Sea Limited(SE)

$82.28▲0.12 (0.15%)

Sea Limited(SE)

NYSE

$82.28▲0.12 (0.15%)

Overview Intelligence Chart Fundamentals Key Metrics Earnings Growth Analysts Financials Insiders Institutional

Revenue (LTM)

$22.9B

+36.4% YoY

Net Income (LTM)

$1.6B

+255.2% YoY

Free Cash Flow

$3.0B

Revenue CAGR (5Y)

+23.2%

Marginsimproving

FCF$3.0B

Profitable

Watch on earnings:Shopee GMV (Gross Merchandise Value) and orders per user metrics by geography, with Indonesia, Taiwan, and Thailand as profitability benchmarksAdjusted EBITDA and path to GAAP profitability, with e-commerce segment margins (currently negative in LATAM, positive in SEA) as key focusGarena quarterly active users, paying user ratios (typically 8-12% conversion), and bookings per user trendsSeaMoney quarterly active users, total payment volume (TPV), and credit portfolio quality metrics including 90-day delinquency rates

Key metrics:Indonesian Rupiah and Thai Baht exchange rates against USD (DEXCHUS as proxy for regional FX trends) impacting 50%+ of revenue translation · Brent crude oil prices affecting logistics costs across Southeast Asian island markets and last-mile delivery economics · US consumer sentiment and retail sales trends as leading indicators for emerging market discretionary spending patterns with 6-12 month lag · Federal funds rate and US 10-year Treasury yields driving growth stock valuation multiples and cost of capital for unprofitable segments

Income Statement

Metric	Dec 21	Dec 22	Dec 23	Dec 24	Dec 25
Revenue	9,955	12,450↑25.1%	13,064↑4.9%	16,820↑28.8%	22,938↑36.4%
Gross Profit	3,896	5,185↑33.1%	5,834↑12.5%	7,205↑23.5%	10,244↑42.2%
Operating Income	-1,583	-1,488↑6.0%	225↑115.1%	662↑194.6%	1,864↑181.5%
Net Income	-2,047	-1,651↑19.3%	151↑109.1%	444↑194.8%	1,578↑255.2%
EBITDA	-1,304	-704↑46.0%	783↑211.3%	1,052↑34.2%	1,864↑77.2%
EPS Diluted	-3.84	-2.96↑22.9%	0.25↑108.4%	0.73↑192.0%	2.52↑245.2%

Balance Sheet

⚠ Convertible debt maturity wall with $2.3B in convertible notes maturing 2026-2028 requiring refinancing or conversion, potentially dilutive at current stock price levels 60% below conversion prices

Metric	Dec 21	Dec 22	Dec 23	Dec 24	Dec 25
Cash & Equivalents	9,248	6,030↓34.8%	2,811↓53.4%	2,405↓14.4%	6,376↑165.1%
Total Current Assets	15,135	12,688↓16.2%	11,774↓7.2%	16,858↑43.2%	23,249↑37.9%
Total Assets	18,756	17,003↓9.3%	18,883↑11.1%	22,625↑19.8%	29,371↑29.8%
Total Current Liabilities	7,176	6,936↓3.4%	8,169↑17.8%	11,296↑38.3%	14,681↑30.0%
Total Liabilities	11,332	11,192↓1.2%	12,186↑8.9%	14,148↑16.1%	16,723↑18.2%
Total Equity	7,399	5,716↓22.7%	6,594↑15.4%	8,372↑27.0%	12,527↑49.6%
Total Debt	4,254	4,485↑5.4%	4,462↓0.5%	4,124↓7.6%	3,330↓19.2%
Net Debt	-4,994	-1,545↑69.1%	1,651↑206.9%	1,719↑4.1%	-3,045↓277.2%

Cash Flow Statement

Metric	Dec 20	Dec 21	Dec 22	Dec 23	Dec 24
Operating Cash Flow	556	209↓62.5%	-1,056↓606.0%	2,080↑297.0%	3,277↑57.6%
Capital Expenditure	-336	-807↓140.0%	-976↓21.0%	-258↑73.5%	-322↓24.5%
Free Cash Flow	220	-599↓372.6%	-2,032↓239.5%	1,821↑189.6%	2,956↑62.3%
Stock-Based Comp	290	470↑62.0%	706↑50.1%	685↓3.0%	716↑4.5%
Net Change in Cash	3,483	3,785↑8.7%	-3,228↓185.3%	-3,367↓4.3%	-162↑95.2%

Values in millions except EPS · Ratios shown as percentages · Click any metric to drill down

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