Sea Limited (SE) Financial Ratios
12 years of historical data (2014–2025) · Consumer Cyclical · Specialty Retail
EV/EBITDA
↑
28.36
↓-41% vs avg
5yr avg: 47.78
30Y Low38.6·High62.6
P/FCF
↑
12.39
↓-30% vs avg
5yr avg: 17.65
30Y Low13.2·High21.7
P/B Ratio
↓
4.61
↓-40% vs avg
5yr avg: 7.73
30Y Low3.6·High27.8
ROE
↑
14.9%
↓+289% vs avg
5yr avg: -7.9%
30Y Low-465%·High15%
Debt/EBITDA
↓
1.79
↓-57% vs avg
5yr avg: 4.14
30Y Low1.8·High6.7
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
SE Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Sea Limited trades at 36.2x earnings, 70% below its 5-year average of 119.3x, sitting at the 0th percentile of its historical range. Compared to the Consumer Cyclical sector median P/E of 21.2x, the stock trades at a premium of 71%. On a free-cash-flow basis, the stock trades at 12.4x P/FCF, 30% below the 5-year average of 17.7x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $55.9B | $81.4B | $64.2B | $24.1B | $29.0B | $119.2B | $95.0B | $17.6B | $3.8B | $2.7B | — |
| Enterprise Value | $52.9B | $78.4B | $65.9B | $25.7B | $27.5B | $114.2B | $90.9B | $16.0B | $3.9B | $2.1B | — |
| P/E Ratio → | 36.22 | 50.62 | 145.34 | 162.00 | — | — | — | — | — | — | — |
| P/S Ratio | 2.44 | 3.55 | 3.81 | 1.84 | 2.33 | 11.97 | 21.71 | 8.07 | 4.63 | 6.62 | — |
| P/B Ratio | 4.61 | 6.44 | 7.57 | 3.59 | 5.00 | 16.05 | 27.78 | 14.97 | — | 5.77 | — |
| P/FCF | 12.39 | 18.04 | 21.71 | 13.22 | — | — | 432.61 | — | — | — | — |
| P/OCF | 11.12 | 16.19 | 19.58 | 11.58 | — | 571.16 | 170.90 | 251.34 | — | — | — |
P/E links to full P/E history page with 30-year chart
SE EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Sea Limited's enterprise value stands at 28.4x EBITDA, 41% below its 5-year average of 47.8x. The Consumer Cyclical sector median is 12.2x, placing the stock at a 133% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.42 | 3.92 | 1.97 | 2.21 | 11.47 | 20.78 | 7.37 | 4.71 | 5.13 | — |
| EV / EBITDA | 28.36 | 42.05 | 62.63 | 38.65 | — | — | — | — | — | — | — |
| EV / EBIT | 28.36 | 42.05 | 99.49 | 75.08 | — | — | — | — | — | — | — |
| EV / FCF | — | 17.36 | 22.29 | 14.12 | — | — | 414.06 | — | — | — | — |
SE Profitability
Margins and return-on-capital ratios measuring operating efficiency
Sea Limited earns an operating margin of 8.1%, above the Consumer Cyclical sector average of 2.0%. Operating margins have expanded from 1.7% to 8.1% over the past 3 years, signaling improving operational efficiency. ROE of 14.9% is modest. ROIC of 14.1% represents solid returns on invested capital versus a sector median of 5.2%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 44.7% | 44.7% | 42.8% | 44.7% | 41.6% | 39.1% | 30.8% | 27.8% | 1.8% | 21.1% | 32.7% |
| Operating Margin | 8.1% | 8.1% | 3.9% | 1.7% | -11.9% | -15.9% | -29.8% | -41.0% | -119.6% | -121.3% | -59.4% |
| Net Profit Margin | 6.9% | 6.9% | 2.6% | 1.2% | -13.3% | -20.6% | -37.0% | -67.2% | -116.2% | -135.3% | -64.5% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 14.9% | 14.9% | 5.9% | 2.4% | -25.0% | -37.7% | -70.5% | -313.5% | -815.7% | -320.8% | — |
| ROA | 6.1% | 6.1% | 2.1% | 0.8% | -9.2% | -14.0% | -20.6% | -39.4% | -46.0% | -45.3% | -48.7% |
| ROIC | 14.1% | 14.1% | 5.4% | 2.7% | -33.3% | -133.7% | — | — | — | — | — |
| ROCE | 14.3% | 14.3% | 6.0% | 2.2% | -13.7% | -18.2% | -30.0% | -46.1% | -83.9% | -63.9% | -100.8% |
SE Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Sea Limited carries a Debt/EBITDA ratio of 1.8x, which is manageable (63% below the sector average of 4.8x). The company holds a net cash position — cash of $6.4B exceeds total debt of $3.3B, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns. Interest coverage of 55.5x signals virtually no risk of debt distress — earnings comfortably cover interest obligations.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.26 | 0.26 | 0.49 | 0.67 | 0.77 | 0.57 | 0.61 | 1.35 | — | 1.53 | — |
| Debt / EBITDA | 1.79 | 1.79 | 3.92 | 6.70 | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.24 | 0.20 | 0.25 | -0.27 | -0.67 | -1.19 | -1.31 | — | -1.30 | — |
| Net Debt / EBITDA | -1.63 | -1.63 | 1.63 | 2.48 | — | — | — | — | — | — | — |
| Debt / FCF | — | -0.67 | 0.58 | 0.91 | — | — | -18.55 | — | — | — | — |
| Interest Coverage | 55.46 | 55.46 | 17.28 | 8.33 | -24.94 | -11.56 | -10.50 | -18.47 | -31.41 | -18.82 | -8689.76 |
Net cash position: cash ($6.4B) exceeds total debt ($3.3B)
SE Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.58x means Sea Limited can comfortably meet its short-term obligations, though there is limited excess liquidity. The current ratio has improved from 1.44x to 1.58x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.58 | 1.58 | 1.49 | 1.44 | 1.83 | 2.11 | 1.93 | 1.87 | 1.44 | 2.70 | 1.17 |
| Quick Ratio | 1.57 | 1.57 | 1.48 | 1.43 | 1.81 | 2.09 | 1.91 | 1.86 | 1.41 | 2.68 | 1.16 |
| Cash Ratio | 0.87 | 0.87 | 0.76 | 0.66 | 0.99 | 1.42 | 1.36 | 1.36 | 0.85 | 2.14 | 0.64 |
| Asset Turnover | — | 0.78 | 0.74 | 0.69 | 0.73 | 0.53 | 0.42 | 0.42 | 0.38 | 0.21 | 0.71 |
| Inventory Turnover | 57.03 | 57.03 | 67.12 | 57.66 | 66.24 | 51.57 | 47.13 | 58.31 | 21.55 | 33.39 | 58.93 |
| Days Sales Outstanding | — | 131.42 | 130.13 | 122.33 | 96.35 | 96.09 | 98.58 | 75.73 | 140.30 | 163.30 | 96.92 |
SE Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Sea Limited returns 0.0% to shareholders annually primarily through share buybacks. The earnings yield of 2.8% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.8% | 2.0% | 0.7% | 0.6% | — | — | — | — | — | — | — |
| FCF Yield | 8.1% | 5.5% | 4.6% | 7.6% | — | — | 0.2% | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — |
| Shares Outstanding | — | $638M | $605M | $594M | $558M | $533M | $477M | $437M | $338M | $206M | $325M |
Peer Comparison
Compare SE with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 SEYou | $56B | 36.2 | 28.4 | 12.4 | 44.7% | 8.1% | 14.9% | 14.1% | 1.8 |
 MELI | $83B | 41.5 | 24.0 | 7.7 | 44.5% | 11.1% | 36.0% | 20.8% | 3.0 |
 GRAB | $14B | 56.0 | 33.8 | 105.8 | 43.2% | 6.0% | 4.1% | 3.3% | 5.4 |
 BABA | $250B | 16.5 | 16.7 | — | 39.8% | 5.8% | 9.4% | 3.8% | 2.4 |
 JD | $38B | 14.5 | 18.6 | 53.3 | 9.3% | 0.2% | 6.5% | 0.8% | 9.3 |
 CPNG | $32B | 163.6 | 44.8 | 61.9 | 29.4% | 1.4% | 4.8% | 14.5% | 6.8 |
 EBAY | $49B | 24.9 | 21.3 | 29.8 | 71.5% | 20.5% | 41.6% | 16.8% | 2.9 |
 SHOP | $141B | 115.8 | 93.3 | 70.4 | 48.1% | 12.7% | 9.8% | 9.4% | 0.1 |
 RBLX | $37B | -33.5 | — | 27.3 | 78.1% | -25.2% | -365.0% | -87.7% | — |
 EA | $51B | 57.6 | 40.1 | 21.8 | 79.0% | 15.4% | 13.5% | 14.7% | 1.2 |
 TTWO | $44B | -147.7 | 37.6 | 96.3 | 54.2% | -1.3% | -10.6% | -1.3% | 2.4 |
| Consumer Cyclical Median | — | 21.2 | 12.2 | 15.6 | 36.2% | 2.0% | 5.3% | 5.2% | 4.8 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 12 years · Updated daily
Consensus-Based Analysis Tools
Full Stock Analysis
Deep dive into SE consensus models and risk factors.
View Analysis
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Check Valuation
Historical Returns
10-year return with dividends reinvested.
Calculate
DCA Calculator
See how regular investing compounds over time.
Run Numbers
Peer Comparison
Compare growth, multiples, and margins vs sector.
Compare
SE — Frequently Asked Questions
Quick answers to the most common questions about buying SE stock.
What is Sea Limited's P/E ratio?
Sea Limited's current P/E ratio is 36.2x. The historical average is 119.3x.
What is Sea Limited's EV/EBITDA?
Sea Limited's current EV/EBITDA is 28.4x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 47.8x.
What is Sea Limited's ROE?
Sea Limited's return on equity (ROE) is 14.9%. The historical average is -134.4%.
Is SE stock overvalued?
Based on historical data, Sea Limited is trading at a P/E of 36.2x. Compare with industry peers and growth rates for a complete picture.
What are Sea Limited's profit margins?
Sea Limited has 44.7% gross margin and 8.1% operating margin.
How much debt does Sea Limited have?
Sea Limited's Debt/EBITDA ratio is 1.8x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.