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Southeast Asian internet group combining Shopee e-commerce, Garena gaming and SeaMoney digital financial services.
Southeast Asian internet group combining Shopee e-commerce, Garena gaming and SeaMoney digital financial services.
Earns from three engines: seller fees, advertising and shipping charges at Shopee; in-game purchases at Garena, whose profits long funded Shopee's expansion; and interest on consumer and merchant loans through its Monee fintech arm. Based in Singapore, it moved Shopee into Brazil in 2019.
Moat: narrow (network effects, scale, brand). Shopee's regional logistics/merchant network and Garena's hit game franchise support cross-platform reach.
Headquarters: Singapore · Founded: 2009 · Employees: 102,700
Size Sea Limited Sponsored ADR (SE) is a United States Consumer Discretionary company (Internet Retail) with a market value of $49.1B, the 258th largest of 3,117 United States companies the cockpit tracks. Shares closed at $75.73 on 6 Nov 2026.
Performance Over six months the shares fell 12.7%, against +10.7% for the median peer and -1.1% for the United States market (cap-weighted) — 3rd lowest of 21 in its peer set.
Growth Revenue grew 43.1% over the last twelve months (peer median +11.1%); the operating margin is 7.9% (peer median 7.5%).
Valuation It trades at 18.0× forward earnings against a peer median of 21.0× (5th cheapest of 19).
Price implies For today's price to make sense, revenue must grow about 12% a year for seven years (Req g). Recent delivered growth is +39%, so the hurdle is -28 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 17.4 points above its cost of capital (12.2% WACC).
Short interest Short interest is 1.4% of the free float (15 Oct 2026).
Next results Next results expected around 10 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $27.7B | $22.9B | $16.8B | $13.1B | $12.4B |
| Revenue growth | — | +36% | +29% | +5% | — |
| Gross profit | $12.3B | $10.2B | $7.13B | $5.72B | $5.04B |
| EBITDA | $2.59B | $2.24B | $871M | $562M | -$983M |
| Net income | $1.64B | $1.58B | $444M | $151M | -$1.65B |
| Free cash flow | n/a | $4.51B | $2.96B | $1.84B | -$1.98B |
| Capital expenditure | n/a | $524M | $322M | $258M | $976M |
| Total debt | $4.13B | $3.38B | $4.12B | $4.45B | $4.49B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Sea Limited Sponsored ADR SE | $49.1B | -13% | +43% | 8% | 18.0× | 11.7% |
| Alibaba Group Holding Limited Sponsored ADR BABA | $255B | -22% | +8% | 4% | 14.2× | n/a |
| Tencent 0700.HK | $482B | -11% | +16% | 32% | 12.5× | 6.4% |
| Grab GRAB | $13.9B | -8% | +23% | 11% | 23.3× | 17.8% |
| Krafton 259960.KS | $6.94B | -17% | +55% | 30% | 12.4× | -18.5% |
| NTES 9999.HK | $81.4B | +8% | +10% | 35% | 14.0× | -3.5% |
| Nexon 3659.T | $13.8B | +10% | +15% | 26% | 22.4× | -9.1% |
| MercadoLibre MELI | $76.6B | -8% | +46% | 8% | 32.0× | 11.9% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | SE | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -18.5% | +4.6% | 3rd lowest of 21 |
| 6-month return | -12.7% | +10.7% | 3rd lowest of 21 |
| Distance from 52-week high | -52.6% | -15.6% | lowest of 21 |
| Revenue growth (TTM) | +43.1% | +11.1% | 4th highest of 21 |
| Operating margin | 7.9% | 7.5% | 11th highest of 21 |
| Forward P/E | 18.0× | 21.0× | 5th cheapest of 19 |
| Growth the price implies (Req g, 7 yrs) | 11.7% | 11.9% | 7th least demanding of 14 |
| Growth delivered (Del g) | +39.3% | +10.8% | 3rd highest of 14 |
| Hurdle (Req g minus delivered) | -27.6 pp | -4.7 pp | 2nd least demanding of 14 |
| ROIC minus cost of capital | +17.4 pp | +7.3 pp | 7th highest of 18 |
| EV / EBITDA | 16.2× | 14.5× | 7th most expensive of 14 |
| Net debt / EBITDA | -2.9× | 0.0× | 3rd least indebted of 17 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Sea Limited Sponsored ADR SE | United States | $49.1B | -13% | +43% | 8% | 18.0× | 11.7% | +39.3% |
| eBay EBAY | United States | $53.5B | +14% | +15% | 21% | 18.4× | 15.4% | +4.6% |
| Jd-sw 9618.HK | Hong Kong | $34.8B | -5% | +8% | 0% | 9.2× | 14.4% | +11.1% |
| MercadoLibre MELI | United States | $76.6B | -8% | +46% | 8% | 32.0× | 11.9% | +48.7% |
| Coupang CPNG | United States | $29.2B | -4% | +7% | -3% | 55.9× | n/a | n/a |
| FSN E-Commerce Ventures NYKAA.NS | India | $10.7B | +31% | +28% | 5% | 209.2× | n/a | n/a |
| Chewy CHWY | United States | $9.07B | -2% | +6% | 3% | 24.1× | 16.8% | +12.0% |
| Baba-w 9988.HK | Hong Kong | $266B | -25% | +8% | 4% | 16.4× | n/a | n/a |
| Rakuten 4755.T | Japan | $8.59B | -18% | +11% | 6% | n/a | -2.0% | +11.4% |
| Etsy ETSY | United States | $7.75B | +40% | +1% | 18% | 19.7× | 12.8% | +10.8% |
| Zalando ZAL.DE | Germany | $7.64B | +42% | +18% | 4% | 19.6× | 7.6% | +9.1% |
| Global-e Online GLBE | United States | $7.22B | +44% | +31% | 14% | 30.9× | 23.4% | +47.8% |
| Vipshop Holdings Ltd Sponsored ADR VIPS | United States | $6.55B | -4% | +2% | 7% | 5.4× | -20.3% | 0.0% |
| Zozo 3092.T | Japan | $6.41B | +8% | +6% | 30% | 19.6× | -5.0% | +9.2% |
| USS 4732.T | Japan | $5.34B | +8% | +11% | 52% | 18.7× | -0.8% | +8.7% |
| Mercari 4385.T | Japan | $3.76B | -5% | +19% | 19% | 15.6× | n/a | n/a |
| Xingyun Technology 300209.SZ | China | $3.15B | +30% | +978% | 23% | n/a | n/a | n/a |
| Global Industrial GIC | United States | $1.77B | +59% | +10% | 8% | 22.4× | 1.3% | +6.0% |
| RealReal REAL | United States | $1.61B | +25% | +18% | 0% | 47.8× | n/a | n/a |
| LuxExperience B.V. Sponsored ADR LUXE | United States | $1.40B | +20% | +111% | -6% | 194.0× | n/a | n/a |
| Liquidity Services LQDT | United States | $1.37B | +21% | +5% | 9% | 24.8× | 16.2% | +18.3% |