Upside case
Bull case
$145+58.4%
SE would need investors to value it at roughly 41x earnings — about 15x more generous than today's 26x forward P/E. That requires meaningful multiple expansion on top of continued earnings growth.
Analysis OverviewBuyUpdated Jun 18, 2026
Sea Limited (SE) Stock Analysis
Wall Street verdict, consensus price target, and analyst rating breakdown — everything needed to frame the risk/reward at today's price.
Analyst consensus
Buy
Covering
44
analysts
31 bullish · 2 bearish · 44 covering SE
Strong Buy
0
Buy
31
Hold
11
Sell
2
Strong Sell
0
Consensus Target
$140
+53.0% vs today
Scenario Range
$69 – $145
Model bear to bull value window
Coverage
44
Published analyst ratings
Valuation Context
25.9x
Forward P/E · Market cap $55.9B
SE price targets
Three scenarios for where SE stock could go
Current
~$91
Confidence
56 / 100
Updated
Jun 18, 2026
Where we are now
Current · $91
Bear
$69
Base
$110
Bull
$145
Market caseClosest to today
Base case
$110+20.2%
At 31x on FY1 earnings, the base case reflects a reasonable but not stretched valuation. It prices in continued growth without assuming an exceptional setup.
Stress case
Bear case
$69-24.3%
If investor confidence fades or macro conditions deteriorate, a 6x multiple contraction could push SE down roughly 24% from where it trades now.
Not financial advice. Model confidence reflects internal scenario assumptions, not a guarantee of returns. Past performance does not predict future results.
Sea Limited
SE · NYSEConsumer CyclicalSpecialty RetailDecember year-end
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.
Market Cap
$55.9B
Revenue TTM
$22.9B
Net Income TTM
$1.6B
Net Margin
6.9%
SE Revenue and Earnings Performance
Quarterly beat-or-miss track record against analyst estimates, plus forward revenue and EPS outlook for the next two fiscal years.
EPS Beat Rate
8%Exceptional
12 quarters tracked
Revenue Beat Rate
50%Exceptional
vs consensus estimates
Avg EPS Surprise
-21.1%
above Street consensus
Beat / Miss Record
BeatMissLeft = EPS · Right = Revenue
Q3 2025
Q4 2025
Q1 2026
Q2 2026
Last 4 Quarters
EPS beats: 0 of 4Q3 2025
EPS
$0.85/$0.99
Revenue
$5.3B/$5.6B
Q4 2025
EPS
$0.78/$1.03
Revenue
$6.0B/$6.4B
Q1 2026
EPS
$0.66/$0.82
Revenue
$6.9B/$6.5B
Q2 2026
EPS
$0.70/$0.75
Revenue
$7.1B/$6.5B
| Quarter | EPS (Actual / Est) | EPS Surprise | Revenue (Actual / Est) | Rev Surprise |
|---|---|---|---|---|
| Q3 2025 | $0.85/$0.99 | -14.1% | $5.3B/$5.6B | -5.3% |
| Q4 2025 | $0.78/$1.03 | -24.3% | $6.0B/$6.4B | -6.8% |
| Q1 2026 | $0.66/$0.82 | -19.1% | $6.9B/$6.5B | +6.2% |
| Q2 2026 | $0.70/$0.75 | -6.2% | $7.1B/$6.5B | +9.9% |
FY1–FY2 Estimates
Revenue Outlook
FY1
$27.5B
+19.8% YoY
FY2
$33.1B
+20.5% YoY
EPS Outlook
FY1
$2.87
+15.8% YoY
FY2
$3.33
+16.0% YoY
Trailing FCF (TTM)$3.2B
FCF Margin: 13.9%
Next Earnings
August 11, 2026
Expected EPS
$0.84
Expected Revenue
$7.2B
SE beat EPS estimates in 0 of 4 tracked quarters. Mixed delivery makes the upcoming report a key data point for re-rating.
SE Revenue Breakdown by Segment
Product and geographic revenue mix from the latest annual disclosure, with year-over-year growth by segment.
Latest disclosure
FY 2025
Total disclosed revenue $1.4B
Product Mix
Latest annual revenue by segment or product family
Third Party Customers
54.9%
YoY unavailable
Tap, hover, or focus a slice to inspect segment detail.
Geographic Mix
Latest annual revenue by reported region
Latin America
64.6%
+68.9% YoY
Tap, hover, or focus a slice to inspect segment detail.
Third Party Customers is the largest disclosed segment at 54.9% of FY 2025 revenue, with no year-over-year comparison yet.
Latin America is the largest reported region at 64.6%, up 68.9% YoY.
SE Valuation Snapshot
Current multiples compared to the S&P 500, the company's sector, and its own five-year average.
Relative Value Signal
Cheap versus peers
Fair value est. $157 — implies +72.1% from today's price.
Upside to Fair Value
72.1%
potential upside
Deep DiscountFair ValueVery Expensive
vs S&P 500 Trailing P/E
SE
36.2x
vs
S&P 500
24.4x
+48% premium
vs Consumer Cyclical Trailing P/E
SE
36.2x
vs
Consumer Cyclical
21.2x
+71% premium
vs SE 5Y Avg P/E
Today
36.2x
vs
5Y Average
119.3x
70% discount
Forward PE
25.9x
S&P 500
18.8x
+37%
Consumer Cyclical
16.3x
+58%
5Y Avg
—
—
Trailing PE
36.2x
S&P 500
24.4x
+48%
Consumer Cyclical
21.2x
+71%
5Y Avg
119.3x
-70%
PEG Ratio
—
S&P 500
1.66x
—
Consumer Cyclical
0.92x
—
5Y Avg
—
—
EV/EBITDA
28.4x
S&P 500
15.2x
+86%
Consumer Cyclical
12.2x
+133%
5Y Avg
47.8x
-41%
Price/FCF
12.4x
S&P 500
20.7x
-40%
Consumer Cyclical
15.6x
-20%
5Y Avg
17.7x
-30%
Price/Sales
2.4x
S&P 500
3.1x
-21%
Consumer Cyclical
0.7x
+249%
5Y Avg
4.7x
-48%
Dividend Yield
—
S&P 500
1.91%
—
Consumer Cyclical
2.17%
—
5Y Avg
—
—
| Metric | SE | S&P 500 | Consumer Cyclical | 5Y Avg SE |
|---|---|---|---|---|
| Forward PE | 25.9x | 18.8x+37% | 16.3x+58% | — |
| Trailing PE | 36.2x | 24.4x+48% | 21.2x+71% | 119.3x-70% |
| PEG Ratio | — | 1.66x | 0.92x | — |
| EV/EBITDA | 28.4x | 15.2x+86% | 12.2x+133% | 47.8x-41% |
| Price/FCF | 12.4x | 20.7x-40% | 15.6x-20% | 17.7x-30% |
| Price/Sales | 2.4x | 3.1x-21% | 0.7x+249% | 4.7x-48% |
| Dividend Yield | — | 1.91% | 2.17% | — |
SE trades above S&P 500 benchmarks on 3 of 5 measured multiples — is elevated on some multiples, but competitive on others — a mixed valuation picture.
Forward P/E and PEG reflect analyst consensus estimates. Historical averages use trailing ratios where forward data is unavailable.S&P 500 and sector benchmarks both use trailing median P/E — similar readings indicate the broader index and sector are priced alike.
Open valuation toolSE Financial Health
Verdict
Strong
SE generates $3.2B in free cash flow at a 13.9% margin — 14.1% ROIC signals a durable competitive advantage.
Cash Engine
Revenue, margins, and cash generation
Revenue (TTM)
Trailing-twelve-month sales base
$22.9B
Revenue Growth
TTM vs prior year
+36.4%
Gross Margin
Gross profit as a share of revenue
44.7%
Operating Margin
Operating income divided by revenue
8.5%
Net Margin
Net income divided by revenue
6.9%
EPS (TTM)
Diluted earnings per share, trailing twelve months
$2.48
Free Cash Flow (TTM)
Cash generation after capex
$3.2B
FCF Margin
FCF as share of revenue — the primary cash quality signal
13.9%
Capital Quality
ROIC, leverage, and debt serviceability
ROIC
Return on invested capital — primary competitive quality signal
14.1%
ROA
Return on assets, trailing twelve months
6.0%
Cash & Equivalents
Liquid assets on the balance sheet
$6.4B
Net Cash
Cash exceeds total debt — no net leverage
$3.0B
Debt Serviceability
Net debt as a multiple of annual free cash flow
Net cash ✓
ROE
Return on equity, trailing twelve months
15.2%
Shareholder Returns
How capital is returned to owners
Total shareholder yield
0.0%
Dividend
—
Buyback
0.0%
Share Repurchases
Trailing buyback outflow — dollar magnitude of capital returned
$14M
Dividend / Share
Annualized trailing dividend per share
—
Payout Ratio
Share of earnings distributed as dividends
—
Shares Outstanding
Declining as buybacks retire shares
612M
All figures from the trailing twelve months. ROIC uses invested capital (equity + net debt).
Open full ratios pageSE Stock Risk Factors
Key factors that could pressure the stock price, compress the multiple, or weigh on future results.
AI analysis · updated June 17, 2026
High Risk
Regulatory risks
Sea Limited warns that regulation across its e-commerce, fintech, and gaming businesses could pressure future results.
High Risk
Competitive pressures
Ongoing competition from rivals like TikTok Shop, which leverages its social media platform, threatens Sea Limited's market position.
Medium
FX volatility
Foreign exchange swings could negatively impact Sea Limited's financial performance across its diverse business segments.
Medium
Geopolitical risks
Geopolitical volatility in regions where Sea Limited operates may disrupt its e-commerce, fintech, and gaming operations.
Lower
Market sentiment
Sea Limited's stock has declined 30% YTD, reflecting investor concerns despite long-term growth potential.
These are risk mechanisms, not predictions. The key question is which would force a cut to earnings estimates or a lower multiple than the market currently prices in.
Why SE Stock Could Outperform
Structural drivers behind the upside case and why the stock could outperform over the next 12 months.
AI analysis · updated June 17, 2026
Shopee's accelerating growth
Shopee's strong performance is driving an earnings rebound for Sea Limited.
Garena's user resurgence
Garena is experiencing a resurgence in users, contributing to Sea Limited's growth.
Sea Money's disciplined expansion
Sea Money's strategic and disciplined expansion is supporting the company's earnings rebound.
Earnings rebound potential
Sea Limited is showing signs of a strong earnings rebound driven by its core businesses.
Attractive valuation metrics
Sea Limited's forward P/E ratio suggests potential undervaluation compared to its trailing P/E.
A real bull case compounds — each driver matters most when it strengthens margins, supports capital returns, and keeps the company above the market's minimum growth bar simultaneously.
SE Stock Price Performance
52-week range context and price returns across multiple time horizons. Dividend contribution is shown separately in the Capital Return section.
Current Price
$91.28
52W Range Position
12%
52-Week Range
Current price plotted between the 52-week low and high.
52-Week Low
$77.05
+18.5% from the low
52-Week High
$199.30
-54.2% from the high
1 Month
+3.39%
3 Month
+8.06%
YTD
-30.6%
1 Year
-41.4%
3Y CAGR
+14.2%
5Y CAGR
-20.2%
10Y CAGR
+18.8%
Range context matters because valuation compression and earnings misses rarely hit from the same starting point. A stock already far below its high can still fall, but it is no longer carrying the same embedded optimism as one pressing a fresh peak.
SE vs Peers
Valuation, growth, and margin comparison against the closest publicly traded peers for this company.
Peer Set
Accurate peer set
Forward PE
25.9x
vs 17.8x median
+46% above peer median
Revenue Growth
+19.8%
vs +17.1% median
+16% above peer median
Net Margin
6.9%
vs 6.0% median
+15% above peer median
| Company | Mkt Cap | Fwd PE | Rev Grw | Margin | Rating | Upside |
|---|---|---|---|---|---|---|
SE SE Sea Limited | $55.9B | 25.9x | +19.8% | 6.9% | Buy | +53.0% |
MEL MELI MercadoLibre, Inc. | $82.9B | 41.4x | +18.8% | 6.0% | Buy | +32.5% |
GRA GRAB Grab Holdings Limited | $14.2B | 33.1x | +17.1% | 10.7% | Buy | +63.9% |
BAB BABA Alibaba Group Holding Limited | $249.8B | 2.4x | +11.9% | 10.1% | Buy | +76.7% |
JD JD JD.com, Inc. | $37.8B | 1.2x | +9.5% | 1.5% | Buy | +27.9% |
CPN CPNG Coupang, Inc. | $32.3B | — | +19.0% | -0.6% | Buy | +37.8% |
This peer comparison reflects companies with similar business models, product lines, or market positioning, supplemented by industry grouping when direct matches are limited.
SE Dividend and Capital Return
SE does not currently return meaningful capital to shareholders.
Dividend UnknownFCF Unknown
Total Shareholder Yield
0.0%
Dividend + buyback return per year
Buyback Yield
0.0%
Dividend Yield
—
Payout Ratio
—
Dividend Profile
Yield, cadence, and growth quality
Dividend / Share
Trailing annualized cash dividend
$0.00
Growth Streak
Consecutive years of dividend increases
9Y
3Y Div CAGR
5.9%
5Y Div CAGR
7.3%
Ex-Dividend Date
—
Payment Cadence
Annual
0 payments over the last 12 months
Buyback Engine
How much per-share support comes from repurchases
Repurchases (TTM)
Cash used for buybacks in the latest trailing period
$14M
Estimated Shares Retired
153.7K
Approx. Share Reduction
0.0%
Shares Outstanding
Current diluted share count from the screening snapshot
612M
| Year | Div / Share | YoY Grw | BB Yield | Total Yield |
|---|---|---|---|---|
| 2017 | $0.44 | -72.8% | 0.0% | 0.0% |
| 2016 | $1.62 | +9.5% | — | — |
| 2015 | $1.48 | +7.6% | — | — |
| 2014 | $1.38 | +12.7% | — | — |
| 2013 | $1.22 | +6.1% | — | — |
FAQ
7 questionsSE Investor Questions
Common questions answered from live analyst data and company financials.
01Is Sea Limited (SE) stock a buy or sell in 2026?
Sea Limited (SE) is rated Buy by Wall Street analysts as of 2026. Of 44 analysts covering the stock, 31 rate it Buy or Strong Buy, 11 rate it Hold, and 2 rate it Sell or Strong Sell. The consensus 12-month price target is $140, implying +53.0% from the current price of $91. The bear case scenario is $69 and the bull case is $145.
02What is the SE stock price target for 2026?
The Wall Street consensus price target for SE is $140 based on 44 analyst estimates. The high-end target is $170 (+86.2% from today), and the low-end target is $121 (+32.6%). The base case model target is $110.
03Is Sea Limited (SE) stock overvalued in 2026?
SE trades at 25.9x times forward earnings. The stock trades at a notable premium to the broad market, which is typical for businesses with strong free cash flow and above-average growth expectations. Based on current multiples versus the peer group, the relative model signals cheap versus peers. Whether the stock is over or undervalued ultimately depends on whether consensus earnings estimates are achievable.
04What are the main risks for Sea Limited (SE) stock in 2026?
The primary risks for SE in 2026 are: (1) Regulatory risks — Sea Limited warns that regulation across its e-commerce, fintech, and gaming businesses could pressure future results. (2) Competitive pressures — Ongoing competition from rivals like TikTok Shop, which leverages its social media platform, threatens Sea Limited's market position. (3) FX volatility — Foreign exchange swings could negatively impact Sea Limited's financial performance across its diverse business segments. Each factor has the potential to pressure earnings or compress the stock's valuation multiple.
05What is Sea Limited's revenue and earnings forecast?
Analyst consensus estimates SE will report consensus revenue of $27.5B (+19.8% year-over-year) and EPS of $2.87 (+15.8% year-over-year) for the upcoming fiscal year. The following year, analysts project $33.1B in revenue.
06When does Sea Limited (SE) report its next earnings?
Sea Limited is expected to report its next earnings on approximately 2026-08-11. Consensus expects EPS of $0.84 and revenue of $7.2B. Over recent quarters, SE has beaten EPS estimates 8% of the time.
07How much free cash flow does Sea Limited generate?
Sea Limited (SE) generated $3.2B in free cash flow over the trailing twelve months — a free cash flow margin of 13.9%. SE returns capital to shareholders through and share repurchases ($14M TTM).