Comprehensive Stock Comparison
Compare Sea Limited (SE) vs MercadoLibre, Inc. (MELI) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | MELI | 39.1% revenue growth vs SE's 28.8% |
| Value | SE | Lower P/E (24.7x vs 30.8x) |
| Quality / Margins | MELI | 6.9% net margin vs SE's 6.2% |
| Stability / Safety | MELI | Beta 0.88 vs SE's 1.37 |
| Dividends | Tie | Neither pays a meaningful dividend |
| Momentum (1Y) | SE | -14.8% vs MELI's -17.2% |
| Efficiency (ROA) | SE | 4.7% ROA vs MELI's 4.7%, ROIC 5.4% vs 20.8% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Sea Limited is a Southeast Asian digital conglomerate operating three core platforms: Garena for gaming, Shopee for e-commerce, and SeaMoney for digital financial services. It generates revenue primarily from digital entertainment (game sales and in-app purchases), e-commerce marketplace commissions and advertising, and financial services fees — with e-commerce being the largest segment. The company's key advantage is its integrated ecosystem where each platform reinforces the others — gaming funds e-commerce growth, which in turn drives financial services adoption — creating powerful network effects across Southeast Asia's emerging digital economy.
MercadoLibre is the dominant e-commerce and fintech platform across Latin America, operating online marketplaces and financial services. It generates revenue primarily from marketplace commissions and advertising fees (roughly 60%) and fintech services including payments, credit, and digital wallets (roughly 40%). The company's moat comes from its integrated ecosystem—combining e-commerce, payments, logistics, and credit—which creates powerful network effects and high switching costs across Latin America's fragmented markets.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
MELI leads in 2 of 6 categories (Financial Metrics, Risk & Volatility). SE leads in 2 (Valuation Metrics, Profitability & Efficiency). 1 tied.
Financial Metrics (TTM)
MELI and SE operate at a comparable scale, with $28.9B and $19.4B in trailing revenue. Profitability is closely matched — net margins range from 6.9% (MELI) to 6.2% (SE). On growth, MELI holds the edge at +44.6% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | SESea Limited | MELIMercadoLibre, Inc. |
|---|---|---|
| RevenueTrailing 12 months | $19.4B | $28.9B |
| EBITDAEarnings before interest/tax | $1.7B | $4.0B |
| Net IncomeAfter-tax profit | $1.2B | $2.0B |
| Free Cash FlowCash after capex | $4.1B | $10.1B |
| Gross MarginGross profit ÷ Revenue | +45.0% | +44.5% |
| Operating MarginEBIT ÷ Revenue | +7.5% | +11.1% |
| Net MarginNet income ÷ Revenue | +6.2% | +6.9% |
| FCF MarginFCF ÷ Revenue | +21.3% | +35.0% |
| Rev. Growth (YoY)Latest quarter vs prior year | +38.2% | +44.6% |
| EPS Growth (YoY)Latest quarter vs prior year | +3.9% | -12.5% |
Valuation Metrics
At 44.6x trailing earnings, MELI trades at a 70% valuation discount to SE's 148.6x P/E. On an enterprise value basis, SE's 6.3x EV/EBITDA is more attractive than MELI's 24.1x.
| Metric | SESea Limited | MELIMercadoLibre, Inc. |
|---|---|---|
| Market CapShares × price | $4.9B | $89.1B |
| Enterprise ValueMkt cap + debt − cash | $6.7B | $96.8B |
| Trailing P/EPrice ÷ TTM EPS | 148.56x | 44.62x |
| Forward P/EPrice ÷ next-FY EPS est. | 24.66x | 30.76x |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | 6.33x | 24.09x |
| Price / SalesMarket cap ÷ Revenue | 0.29x | 3.08x |
| Price / BookPrice ÷ Book value/share | 7.74x | 13.20x |
| Price / FCFMarket cap ÷ FCF | 1.67x | 8.27x |
Profitability & Efficiency
MELI delivers a 29.6% return on equity — every $100 of shareholder capital generates $30 in annual profit, vs $12 for SE. SE carries lower financial leverage with a 0.49x debt-to-equity ratio, signaling a more conservative balance sheet compared to MELI's 1.69x. On the Piotroski fundamental quality scale (0–9), SE scores 7/9 vs MELI's 5/9, reflecting strong financial health.
| Metric | SESea Limited | MELIMercadoLibre, Inc. |
|---|---|---|
| ROE (TTM)Return on equity | +12.3% | +29.6% |
| ROA (TTM)Return on assets | +4.7% | +4.7% |
| ROICReturn on invested capital | +5.4% | +20.8% |
| ROCEReturn on capital employed | +6.0% | +28.3% |
| Piotroski ScoreFundamental quality 0–9 | 7 | 5 |
| Debt / EquityFinancial leverage | 0.49x | 1.69x |
| Net DebtTotal debt minus cash | $1.7B | $7.7B |
| Cash & Equiv.Liquid assets | $2.4B | $3.7B |
| Total DebtShort + long-term debt | $4.1B | $11.4B |
| Interest CoverageEBIT ÷ Interest expense | 39.25x | — |
Total Returns (with DRIP)
A $10,000 investment in MELI five years ago would be worth $10,259 today (with dividends reinvested), compared to $4,364 for SE. Over the past 12 months, SE leads with a -14.8% total return vs MELI's -17.2%. The 3-year compound annual growth rate (CAGR) favors SE at 20.2% vs MELI's 12.9% — a key indicator of consistent wealth creation.
| Metric | SESea Limited | MELIMercadoLibre, Inc. |
|---|---|---|
| YTD ReturnYear-to-date | -17.5% | -10.9% |
| 1-Year ReturnPast 12 months | -14.8% | -17.2% |
| 3-Year ReturnCumulative with dividends | +73.5% | +44.1% |
| 5-Year ReturnCumulative with dividends | -56.4% | +2.6% |
| 10-Year ReturnCumulative with dividends | +577.2% | +1628.4% |
| CAGR (3Y)Annualised 3-year return | +20.2% | +12.9% |
Risk & Volatility
MELI is the less volatile stock with a 0.88 beta — it tends to amplify market swings less than SE's 1.37 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. MELI currently trades 66.4% from its 52-week high vs SE's 54.4% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | SESea Limited | MELIMercadoLibre, Inc. |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.37x | 0.88x |
| 52-Week HighHighest price in past year | $199.30 | $2645.22 |
| 52-Week LowLowest price in past year | $99.50 | $1665.00 |
| % of 52W HighCurrent price vs 52-week peak | +54.4% | +66.4% |
| RSI (14)Momentum oscillator 0–100 | 45.2 | 28.7 |
| Avg Volume (50D)Average daily shares traded | 4.4M | 418K |
Analyst Outlook
Wall Street rates SE as "Buy" and MELI as "Buy". Consensus price targets imply 61.4% upside for SE (target: $175) vs 59.9% for MELI (target: $2810).
| Metric | SESea Limited | MELIMercadoLibre, Inc. |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $175.00 | $2810.00 |
| # AnalystsCovering analysts | 44 | 33 |
| Dividend YieldAnnual dividend ÷ price | — | — |
| Dividend StreakConsecutive years of raises | — | 0 |
| Dividend / ShareAnnual DPS | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | +0.0% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Mar 20 | Feb 26 | Change |
|---|---|---|---|
| Sea Limited (SE) | 100 | 236.45 | +136.4% |
| MercadoLibre, Inc. (MELI) | 100 | 334.4 | +234.4% |
MercadoLibre, Inc. (MELI) returned +3% over 5 years vs Sea Limited (SE)'s -56%. A $10,000 investment in MELI 5 years ago would be worth $10,259 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Sea Limited (SE) | $346M | $16.8B | +4765.9% |
| MercadoLibre, Inc. (MELI) | $844M | $28.9B | +3321.7% |
MercadoLibre, Inc.'s revenue grew from $844M (2016) to $28.9B (2025) — a 48.1% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Sea Limited (SE) | -64.5% | 2.6% | +104.1% |
| MercadoLibre, Inc. (MELI) | 16.1% | 6.9% | -57.2% |
MercadoLibre, Inc.'s net margin went from 16% (2016) to 7% (2025).
Chart 4P/E Ratio History — 4 Years
| Stock | 2022 | 2025 | Change |
|---|---|---|---|
| MercadoLibre, Inc. (MELI) | 88.8 | 51.1 | -42.5% |
MercadoLibre, Inc. has traded in a 45x–89x P/E range over 4 years; current trailing P/E is ~45x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Sea Limited (SE) | -0.69 | 0.73 | +205.8% |
| MercadoLibre, Inc. (MELI) | 3.09 | 39.39 | +1174.8% |
MercadoLibre, Inc.'s EPS grew from $3.09 (2016) to $39.39 (2025) — a 33% CAGR.
Chart 6Free Cash Flow — 5 Years
Sea Limited generated $3B FCF in 2024 (+594% vs 2021). MercadoLibre, Inc. generated $11B FCF in 2025 (+2930% vs 2021).
SE vs MELI: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is SE or MELI a better buy right now?
MercadoLibre, Inc. (MELI) offers the better valuation at 44.6x trailing P/E (30.8x forward), making it the more compelling value choice. Analysts rate Sea Limited (SE) a "Buy" — based on 44 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — SE or MELI?
On trailing P/E, MercadoLibre, Inc. (MELI) is the cheapest at 44.6x versus Sea Limited at 148.6x. On forward P/E, Sea Limited is actually cheaper at 24.7x — notably different from the trailing picture, reflecting expected earnings growth.
03Which is the better long-term investment — SE or MELI?
Over the past 5 years, MercadoLibre, Inc. (MELI) delivered a total return of +2.6%, compared to -56.4% for Sea Limited (SE). A $10,000 investment in MELI five years ago would be worth approximately $10K today (assuming dividends reinvested). Over 10 years, the gap is even starker: MELI returned +1628% versus SE's +577.2%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — SE or MELI?
By beta (market sensitivity over 5 years), MercadoLibre, Inc. (MELI) is the lower-risk stock at 0.88β versus Sea Limited's 1.37β — meaning SE is approximately 55% more volatile than MELI relative to the S&P 500. On balance sheet safety, Sea Limited (SE) carries a lower debt/equity ratio of 49% versus 169% for MercadoLibre, Inc. — giving it more financial flexibility in a downturn.
05Which has better profit margins — SE or MELI?
MercadoLibre, Inc. (MELI) is the more profitable company, earning 6.9% net margin versus 2.6% for Sea Limited — meaning it keeps 6.9% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: MELI leads at 11.1% versus 3.9% for SE. At the gross margin level — before operating expenses — MELI leads at 44.5%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is SE or MELI more undervalued right now?
On forward earnings alone, Sea Limited (SE) trades at 24.7x forward P/E versus 30.8x for MercadoLibre, Inc. — 6.1x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for SE: 61.4% to $175.00.
07Which pays a better dividend — SE or MELI?
None of the stocks in this comparison currently pay a material dividend. All are effectively zero-yield and should be held for capital appreciation rather than income.
08Is SE or MELI better for a retirement portfolio?
For long-horizon retirement investors, MercadoLibre, Inc. (MELI) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.88), +1628% 10Y return). Both have compounded well over 10 years (MELI: +1628%, SE: +577.2%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between SE and MELI?
Both stocks operate in the Consumer Cyclical sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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