(SE) Sea - Ratings and Ratios
E-commerce, Digital-Payments, Gaming, Fintech, Insurance
EPS (Earnings per Share)
Revenue
Dividends
Currently no dividends paid| Risk via 10d forecast | |
|---|---|
| Volatility | 50.3% |
| Value at Risk 5%th | 72.7% |
| Relative Tail Risk | -12.15% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.49 |
| Alpha | -1.00 |
| CAGR/Max DD | 0.50 |
| Character TTM | |
|---|---|
| Hurst Exponent | 0.370 |
| Beta | 1.375 |
| Beta Downside | 1.672 |
| Drawdowns 3y | |
|---|---|
| Max DD | 60.46% |
| Mean DD | 20.85% |
| Median DD | 14.68% |
Description: SE Sea September 25, 2025
Sea Limited (NYSE:SE) is a Singapore-based consumer-internet conglomerate that operates three core businesses: **Garena**, a digital entertainment platform that hosts mobile and PC games (including the blockbuster “Free Fire”) and runs eSports and game-development initiatives; **Shopee**, a mobile-first e-commerce marketplace that bundles payments, logistics and seller services; and **SeaMoney**, a digital-financial suite delivering consumer and SME credit, mobile wallets, payment processing, banking-as-a-service and insurtech under the SPayLater and SeaInsure brands. The firm serves both buyers (individuals and households) and sellers (SMEs, brands and large retailers) across Southeast Asia, Latin America and other emerging markets.
**Key performance indicators (Q4 2023)**: Shopee’s gross merchandise volume (GMV) grew 23% YoY to $73 billion, driven by deeper market penetration in Indonesia and Brazil; Garena’s “Free Fire” generated $1.5 billion in revenue, maintaining a >70% share of the global mobile battle-royale market; SeaMoney processed $55 billion in payments in 2023, with its credit-risk-adjusted loan portfolio expanding at ~30% CAGR since 2020. These metrics illustrate the company’s reliance on high-growth, mobile-centric consumer spend.
**Sector and macro drivers**: 1) Rapid mobile-internet adoption in SEA-smartphone penetration reached 78% in 2023, fueling both e-commerce and digital gaming demand. 2) Rising disposable income among the region’s emerging middle class, which is projected to add $1.2 trillion in purchasing power by 2027, supporting higher transaction frequency on Shopee and SeaMoney. 3) Accelerating digital-payment infrastructure, with fintech adoption rates climbing >25% YoY, creating tailwinds for Sea’s under-banked credit and wallet services.
For a deeper quantitative dive into Sea’s valuation metrics, the ValueRay platform offers a granular, data-driven analysis worth reviewing.
Piotroski VR‑10 (Strict, 0-10) 8.0
| Net Income (1.43b TTM) > 0 and > 6% of Revenue (6% = 1.26b TTM) |
| FCFTA 0.16 (>2.0%) and ΔFCFTA 3.85pp (YES ≥ +1.0pp, WARN ≥ +0.5pp) |
| NWC/Revenue 30.38% (prev 38.25%; Δ -7.86pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp) |
| CFO/TA 0.17 (>3.0%) and CFO 4.57b > Net Income 1.43b (YES >=105%, WARN >=100%) |
| Net Debt (1.18b) to EBITDA (2.09b) ratio: 0.56 <= 3.0 (WARN <= 3.5) |
| Current Ratio 1.44 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active) |
| Outstanding Shares last Quarter (635.6m) change vs 12m ago 10.66% (target <= -2.0% for YES) |
| Gross Margin 44.92% (prev 42.00%; Δ 2.93pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0) |
| Asset Turnover 86.85% (prev 71.90%; Δ 14.96pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0) |
| Interest Coverage Ratio 49.61 (EBITDA TTM 2.09b / Interest Expense TTM 36.2m) >= 6 (WARN >= 3) |
Altman Z'' 0.77
| (A) 0.24 = (Total Current Assets 21.08b - Total Current Liabilities 14.69b) / Total Assets 26.75b |
| (B) -0.26 = Retained Earnings (Balance) -6.97b / Total Assets 26.75b |
| (C) 0.07 = EBIT TTM 1.79b / Avg Total Assets 24.22b |
| (D) -0.43 = Book Value of Equity -7.02b / Total Liabilities 16.45b |
| Total Rating: 0.77 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D) |
ValueRay F-Score (Strict, 0-100) 78.02
| 1. Piotroski 8.0pt |
| 2. FCF Yield 6.04% |
| 3. FCF Margin 20.69% |
| 4. Debt/Equity 0.42 |
| 5. Debt/Ebitda 0.56 |
| 6. ROIC - WACC (= -0.24)% |
| 7. RoE 15.34% |
| 8. Rev. Trend 92.13% |
| 9. EPS Trend 85.34% |
What is the price of SE shares?
Over the past week, the price has changed by +2.50%, over one month by -16.14%, over three months by -26.60% and over the past year by +16.03%.
Is SE a buy, sell or hold?
- Strong Buy: 21
- Buy: 7
- Hold: 7
- Sell: 0
- Strong Sell: 0
What are the forecasts/targets for the SE price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 192.2 | 43.1% |
| Analysts Target Price | 192.2 | 43.1% |
| ValueRay Target Price | 127.6 | -5% |
SE Fundamental Data Overview November 25, 2025
P/E Trailing = 57.3537
P/E Forward = 33.557
P/S = 3.6961
P/B = 7.6263
P/EG = 0.4799
Beta = 1.57
Revenue TTM = 21.04b USD
EBIT TTM = 1.79b USD
EBITDA TTM = 2.09b USD
Long Term Debt = 294.6m USD (from longTermDebt, last quarter)
Short Term Debt = 2.90b USD (from shortTermDebt, last quarter)
Debt = 4.24b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 1.18b USD (from netDebt column, last quarter)
Enterprise Value = 72.10b USD (77.76b + Debt 4.24b - CCE 9.90b)
Interest Coverage Ratio = 49.61 (Ebit TTM 1.79b / Interest Expense TTM 36.2m)
FCF Yield = 6.04% (FCF TTM 4.35b / Enterprise Value 72.10b)
FCF Margin = 20.69% (FCF TTM 4.35b / Revenue TTM 21.04b)
Net Margin = 6.78% (Net Income TTM 1.43b / Revenue TTM 21.04b)
Gross Margin = 44.92% ((Revenue TTM 21.04b - Cost of Revenue TTM 11.59b) / Revenue TTM)
Gross Margin QoQ = 43.42% (prev 45.82%)
Tobins Q-Ratio = 2.70 (Enterprise Value 72.10b / Total Assets 26.75b)
Interest Expense / Debt = 0.21% (Interest Expense 8.85m / Debt 4.24b)
Taxrate = 30.05% (161.1m / 536.1m)
NOPAT = 1.26b (EBIT 1.79b * (1 - 30.05%))
Current Ratio = 1.44 (Total Current Assets 21.08b / Total Current Liabilities 14.69b)
Debt / Equity = 0.42 (Debt 4.24b / totalStockholderEquity, last quarter 10.20b)
Debt / EBITDA = 0.56 (Net Debt 1.18b / EBITDA 2.09b)
Debt / FCF = 0.27 (Net Debt 1.18b / FCF TTM 4.35b)
Total Stockholder Equity = 9.30b (last 4 quarters mean from totalStockholderEquity)
RoA = 5.33% (Net Income 1.43b / Total Assets 26.75b)
RoE = 15.34% (Net Income TTM 1.43b / Total Stockholder Equity 9.30b)
RoCE = 18.70% (EBIT 1.79b / Capital Employed (Equity 9.30b + L.T.Debt 294.6m))
RoIC = 10.27% (NOPAT 1.26b / Invested Capital 12.22b)
WACC = 10.51% (E(77.76b)/V(82.00b) * Re(11.08%) + D(4.24b)/V(82.00b) * Rd(0.21%) * (1-Tc(0.30)))
Discount Rate = 11.08% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 5.51%
[DCF Debug] Terminal Value 72.21% ; FCFE base≈3.69b ; Y1≈4.55b ; Y5≈7.77b
Fair Price DCF = 148.3 (DCF Value 81.06b / Shares Outstanding 546.5m; 5y FCF grow 25.0% → 3.0% )
EPS Correlation: 85.34 | EPS CAGR: 69.79% | SUE: -1.13 | # QB: 0
Revenue Correlation: 92.13 | Revenue CAGR: 17.96% | SUE: 1.74 | # QB: 1
Additional Sources for SE Stock
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle