Last 35 quarters of trend data · Consumer Cyclical · Specialty Retail
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
Sea Limited's quarterly P/E stands at 57.9x, down 54.6% year-over-year — suggesting improving earnings relative to price. EV/EBITDA has compressed 14.3% YoY to 49.3x, reflecting multiple compression or accelerating EBITDA.
| Metric | TTM | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 148.56 | 57.95 | 51.78 | 68.01 | 90.65 | 127.54 | — | — | — | 26.87 | 144.25 | 18.58 | — |
| — | -54.6% | — | — | — | +374.6% | — | — | — | — | — | — | — | |
| P/S Ratio | 0.29 | 4.50 | 4.28 | 3.27 | 3.13 | 2.69 | 2.05 | 1.59 | 1.87 | 2.81 | 4.26 | 2.31 | 2.48 |
| — | +67.1% | +108.3% | +105.0% | +66.8% | -4.0% | -51.8% | -30.9% | -24.4% | -11.4% | -25.9% | -76.0% | -84.5% | |
| P/B Ratio | 7.74 | 9.68 | 9.13 | 7.64 | 6.74 | 5.89 | 4.53 | 3.44 | 3.77 | 5.25 | 8.37 | 5.48 | 6.32 |
| — | +64.4% | +101.4% | +121.7% | +78.7% | +12.2% | -45.9% | -37.1% | -40.3% | -23.5% | -21.0% | -67.2% | -71.3% | |
| P/FCF | 1.67 | 16.91 | 27.35 | 23.02 | 10.74 | 18.56 | 17.40 | 21.81 | 11.16 | 15.42 | 25.68 | — | — |
| — | -8.9% | +57.2% | +5.6% | -3.8% | +20.4% | -32.2% | — | — | — | — | — | — | |
| EV / EBITDA | 6.33 | 49.33 | 38.87 | 41.34 | 44.79 | 57.54 | 46.67 | 137.43 | — | 22.14 | 51.19 | 16.53 | — |
| — | -14.3% | -16.7% | -69.9% | — | +159.8% | -8.8% | +731.6% | — | — | — | — | — | |
| EV / EBIT | 10.05 | 49.57 | 46.44 | 54.34 | 69.18 | 128.52 | 113.81 | — | — | 31.52 | 51.68 | 14.55 | — |
| — | -61.4% | -59.2% | — | — | +307.7% | +120.2% | — | — | — | — | — | — |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Sea Limited's operating margin was 9.3% in Q2 2025, down 0.2 pp QoQ and up 7.1 pp YoY. The trailing four-quarter average of 7.4% lags the current quarter, suggesting the recent improvement is above-trend. Gross margin expanded 10.1% YoY, indicating pricing power or improving input costs.
| Metric | TTM | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 42.8% | 45.8% | 46.2% | 44.6% | 43.0% | 41.6% | 41.6% | 42.2% | 43.5% | 46.9% | 46.6% | 49.2% | 38.9% |
| — | +10.1% | +11.0% | +5.7% | -1.2% | -11.2% | -10.7% | -14.3% | +11.9% | +26.5% | +15.4% | +20.9% | +3.7% | |
| Operating Margin | 3.9% | 9.3% | 9.4% | 6.2% | 4.7% | 2.2% | 1.9% | -1.6% | -3.9% | 9.2% | 4.1% | 9.9% | -15.7% |
| — | +325.9% | +395.2% | +495.2% | +221.2% | -76.2% | -53.8% | -115.7% | +75.4% | +132.2% | +124.0% | +172.4% | +7.9% | |
| Net Margin | 2.6% | 7.9% | 8.3% | 4.8% | 3.5% | 2.1% | -0.6% | -3.0% | -4.3% | 10.7% | 2.9% | 12.4% | -18.0% |
| — | +275.2% | +1413.8% | +258.0% | +181.4% | -80.4% | -121.9% | -124.5% | +75.9% | +133.8% | +114.5% | +164.5% | +15.4% |
| Metric | TTM | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 5.9% | 4.4% | 4.6% | 2.9% | 2.0% | 1.2% | -0.4% | -1.7% | -2.2% | 5.2% | 1.5% | 7.9% | -11.0% |
| — | +277.5% | +1407.0% | +273.9% | +193.7% | -77.5% | -123.9% | -120.9% | +80.1% | +132.5% | +117.4% | +197.8% | -9.1% | |
| ROA | 2.1% | 1.7% | 1.7% | 1.1% | 0.7% | 0.4% | -0.1% | -0.6% | -0.8% | 1.9% | 0.5% | 2.5% | -3.3% |
| — | +306.7% | +1492.2% | +280.1% | +192.1% | -78.2% | -124.2% | -123.9% | +75.4% | +136.5% | +116.5% | +175.2% | +14.0% | |
| ROIC | 5.4% | 3.2% | 3.2% | 2.3% | 1.6% | 0.7% | 0.6% | -0.5% | -1.2% | 3.5% | 2.1% | 6.2% | -9.1% |
| — | +338.5% | +408.4% | +539.5% | +234.2% | -78.9% | -70.0% | -108.4% | +86.5% | +121.6% | +117.4% | +130.1% | +80.8% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Sea Limited's Debt/EBITDA ratio is 8.6x, up from 7.6x last quarter — elevated, raising questions about debt serviceability. Debt/Equity has declined for 8 consecutive quarters, reflecting a deleveraging trend.
| Metric | TTM | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.49 | 0.43 | 0.46 | 0.49 | 0.55 | 0.61 | 0.61 | 0.67 | 0.70 | 0.69 | 0.73 | 0.77 | 1.08 |
| — | -29.6% | -25.6% | -27.0% | -21.8% | -11.6% | -15.8% | -13.7% | -35.1% | -27.4% | -10.5% | +34.7% | +105.1% | |
| Debt / EBITDA | 3.92 | 8.55 | 7.61 | 10.26 | 14.09 | 22.91 | 23.99 | 99.25 | — | 11.29 | 18.41 | 9.79 | — |
| — | -62.7% | -68.3% | -89.7% | — | +102.9% | +30.3% | +914.1% | — | — | — | — | — | |
| Current Ratio | 1.49 | 1.55 | 1.51 | 1.49 | 1.62 | 1.49 | 1.46 | 1.44 | 1.70 | 1.75 | 1.87 | 1.83 | 1.78 |
| — | +3.7% | +3.3% | +3.5% | -4.8% | -14.3% | -21.9% | -21.2% | -4.5% | -9.3% | -7.4% | -13.3% | -28.4% | |
| Quick Ratio | 1.48 | 1.54 | 1.49 | 1.48 | 1.60 | 1.48 | 1.44 | 1.43 | 1.69 | 1.73 | 1.85 | 1.81 | 1.77 |
| — | +4.1% | +3.5% | +3.8% | -5.1% | -14.7% | -22.1% | -21.4% | -4.5% | -9.2% | -7.3% | -13.3% | -28.6% | |
| Interest Coverage | 17.28 | 54.35 | 50.32 | 33.20 | 20.77 | 8.58 | 7.33 | -5.54 | -12.54 | 27.48 | 12.03 | 31.44 | -43.07 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 35 years · Updated daily
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Start ComparisonSea Limited's current P/E is 148.6x. The average P/E over the last 4 quarters is 67.1x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Sea Limited's current operating margin is 3.9%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Sea Limited's business trajectory between earnings reports.