Sea Limited, through its subsidiaries, operates as a technology company in Southeast Asia, Latin America, the rest of Asia, and internationally.
Profile & Fundamentals
Sea: Company identity, ownership, reported financial performance, balance sheets, and corporate actions.
Profile & Fundamentals
Sea Profile & Fundamentals
Examine company identity, ownership, reported performance, valuation, balance-sheet resilience, dividends, buybacks, and material corporate events.
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Company and Market Context
Company Profile & Ownership
Sea Limited, through its subsidiaries, operates as a technology company in Southeast Asia, Latin America, the rest of Asia, and internationally. The company operates through E-commerce, Digital Financial Services, and Digital Entertainment segments. It offers Garena, a digital entertainment platform for users to access mobile and PC online games, as well as promotes eSports operations and develops games. The company also operates the Shopee e-commerce platform, a mobile-centric marketplace that provides integrated payments, logistics and fulfillment infrastructure, and other value-added services. In addition, it offers Monee digital financial services comprising consumer, and small and medium-sized enterprises (SME) credit, e- wallets, payment processing, banking, Insurtech, and wealth services; and acts as an underwriter for various life and non-life insurance products under the MoneeInsure tradename, as well as insurance agency services. It serves buyers, such as individuals and households; and sellers, including small and medium businesses, brands, and large retailers. The company was formerly known as Garena Interactive Holding Limited and changed its name to Sea Limited in April 2017. Sea Limited was incorporated in 2009 and is headquartered in Singapore.
Company profile record
Sea Ltd
Common Stock · Consumer Discretionary · Broadline Retail
Company
- Company / asset
- Sea Ltd
- Security type
- Common Stock
- Sector
- Consumer Discretionary
- Industry
- Broadline Retail
- HQ
- 🇸🇬 Singapore
- Head office
- 1 Fusionopolis Place, Singapore, Singapore, 138522
Leadership & scale
- Chief executive
- Mr. Xiaodong Li
- CEO year born
- 1978
- Full-time employees
- 102.7K
- Fiscal year end
- December
- IPO date
- 2017-10-20
Fundamentals snapshot
- Market Cap
- USD 63.2B
- P/E
- 38.6x
- Revenue (Q2 26)
- USD 7.8B
- Profit (Q2 26)
- USD 440.8M
- Dividend Yield
- --
- Revenue (FY 25)
- USD 22.9B
- Shares in public float
- 418.4M
- Insider ownership
- 26.05%
Reporting & identifiers
- Symbol
- SE.NYSE
- Listing
- 🇺🇸 United States | Dividend Tax: 30%
- Ticker Currency
- USD
- Income Statement Currency
- USD
- Balance Sheet Currency
- USD
- Cash Flow Currency
- USD
- EPS Currency
- USD
- Contract Type
- SPOT
- ISIN
- US81141R1005
- Asset ID
- equity_4b443ba6-d413-5851-a560-431dd9491d00
Ownership
Shares Outstanding
Latest: 654.5M | Max: 654.5M | Min: 293.3M
Latest reported ownership snapshot
As of Oct 1, 2026Float Shares
63.94%
418.4M latest reported shares
Insider Ownership
26.05%
Latest reported insider stake
Short Float
0.03%
Latest reported short interest / float
Top Holders
Source tablesView ownership tables
Shares Outstanding
Annual reported shares outstanding; up to 10 reporting dates.
Scroll the table to see every column.
| Reporting date | Shares outstanding |
|---|---|
| 2017-01-01 | 293,324,600 |
| 2018-01-01 | 340,397,600 |
| 2019-01-01 | 460,325,700 |
| 2020-01-01 | 494,805,100 |
| 2021-01-01 | 553,635,500 |
| 2022-01-01 | 611,938,700 |
| 2023-01-01 | 570,937,800 |
| 2024-01-01 | 610,136,800 |
| 2025-01-01 | 639,526,900 |
| 2026-01-01 | 654,451,400 |
Top Holders
Available reported ownership records.
Scroll the table to see every column.
| Holder | Shares | Ownership | Reported date |
|---|---|---|---|
| Baillie Gifford & Co Limited. | 38,409,385 | 6.27% | 2026-06-30 |
| WCM Investment Management | 33,746,475 | 5.51% | 2026-03-31 |
| T. Rowe Price Associates, Inc. | 33,410,683 | 5.45% | 2026-03-31 |
| BlackRock Inc | 20,942,475 | 3.42% | 2026-03-31 |
| FMR Inc | 14,041,735 | 2.29% | 2026-03-31 |
| Tiger Technology Management LLC | 12,559,152 | 2.05% | 2026-06-30 |
| Vanguard International Growth Inv | 10,540,496 | 1.72% | 2026-06-30 |
| JPMorgan Chase & Co | 9,347,213 | 1.53% | 2026-03-31 |
| WCM Focused International Growth Instl | 8,373,407 | 1.37% | 2026-06-30 |
| Schroder Investment Management Group | 7,646,820 | 1.25% | 2026-06-30 |
| State Street Corp | 7,253,356 | 1.18% | 2026-03-31 |
| Temasek Holdings Ltd. | 5,744,587 | 0.94% | 2026-06-30 |
| NORGES BANK | 5,636,101 | 0.92% | 2026-06-30 |
| Artisan Partners Limited Partnership | 5,466,001 | 0.89% | 2026-06-30 |
| Aspex Management (HK) Ltd | 4,870,097 | 0.8% | 2026-03-31 |
Earnings, Profitability & Valuation
Earnings, Profitability & Valuation
Earnings & Revenue
Earnings and Revenue Trajectory
AI Review
The company has orchestrated a dramatic turnaround from heavy cash burn to robust profitability. For fiscal 2025, consolidated revenue grew 36.4% to $22.9 billion, while operating profit surged to $1.86 billion. Momentum continued into mid-2026, with second-quarter revenue climbing 48.1% year-over-year to $7.79 billion. Shopee's advertising fees and SeaMoney's expanding consumer loans served as the primary growth engines. However, the latest numbers expose a split between sales growth and profit conversion. Second-quarter 2026 net profit rose just 6.4% to $441 million, as marketing spending to combat rival shopping apps and credit loss provisions absorbed incremental gross profits. Even so, trailing twelve-month free cash flow reached $4.06 billion, proving that the core business generates substantial self-funding cash.
The company has orchestrated a dramatic turnaround from heavy cash burn to robust profitability. For fiscal 2025, consolidated revenue grew 36.4% to $22.9 billion, while operating profit surged to $1.86 billion. Momentum continued into mid-2026, with second-quarter revenue climbing 48.1% year-over-year to $7.79 billion. Shopee's advertising fees and SeaMoney's expanding consumer loans served as the primary growth engines. However, the latest numbers expose a split between sales growth and profit conversion. Second-quarter 2026 net profit rose just 6.4% to $441 million, as marketing spending to combat rival shopping apps and credit loss provisions absorbed incremental gross profits. Even so, trailing twelve-month free cash flow reached $4.06 billion, proving that the core business generates substantial self-funding cash.
Revenue, Net Income, and Free Cash Flow
Latest: USD 22.9B | Max: USD 22.9B | Min: USD -2.0B
Valuation
P/E Ratio (TTM)iPublished valuation snapshots use the earnings basis recorded with each observation. Source tables retain that basis.
Latest: 51x
Profitability & Margins
Margins and Operating Efficiency
AI Review
Profitability has rebounded vigorously from historical deficits, with gross margin expanding to 44.7% and operating margin reaching 8.13% in fiscal 2025. This structural margin improvement is driven by higher-margin merchant advertising tools and lucrative digital lending interest spreads, alongside lower package delivery costs resulting from in-house logistics scale. However, recent quarterly figures indicate that margin expansion has hit a temporary plateau, with net margins hovering near 5.7% in mid-2026. Ongoing promotional subsidies to defend against live-commerce competitors like TikTok Shop and rising credit provisions have capped near-term earnings conversion. As logistics routes mature and advertising scales, margins should gradually widen, though they will remain below pure software levels.
Profitability has rebounded vigorously from historical deficits, with gross margin expanding to 44.7% and operating margin reaching 8.13% in fiscal 2025. This structural margin improvement is driven by higher-margin merchant advertising tools and lucrative digital lending interest spreads, alongside lower package delivery costs resulting from in-house logistics scale. However, recent quarterly figures indicate that margin expansion has hit a temporary plateau, with net margins hovering near 5.7% in mid-2026. Ongoing promotional subsidies to defend against live-commerce competitors like TikTok Shop and rising credit provisions have capped near-term earnings conversion. As logistics routes mature and advertising scales, margins should gradually widen, though they will remain below pure software levels.
Profitability Margins
Latest: 44.7% | Max: 44.7% | Min: <-100.0%
Latest Profitability Ratios as of 2025-12-31
Gross Margin
44.7%
Gross profit / revenue
Operating Margin
8.1%
Operating income / revenue
Net Margin
6.9%
Net income / revenue
FCF Margin
19.7%
Free cash flow / revenue
Source tablesView earnings, profitability & valuation tables
Revenue, Net Income, and Free Cash Flow
Annual reported results, using the source statement's recorded USD conversion. Up to 10 reporting periods; missing values are not estimated.
Scroll the table to see every column.
| Period end | Revenue (USD) | Net income (USD) | Free cash flow (USD) |
|---|---|---|---|
| 2016-12-31 | 345,670,000 | -222,867,000 | -139,265,000 |
| 2017-12-31 | 414,190,000 | -560,485,000 | -413,976,000 |
| 2018-12-31 | 826,968,000 | -961,241,000 | -673,705,000 |
| 2019-12-31 | 2,175,378,000 | -1,462,799,000 | -177,233,000 |
| 2020-12-31 | 4,375,664,000 | -1,618,056,000 | 219,594,000 |
| 2021-12-31 | 9,955,190,000 | -2,046,759,000 | -598,527,000 |
| 2022-12-31 | 12,449,705,000 | -1,651,421,000 | -2,031,975,000 |
| 2023-12-31 | 13,063,560,000 | 150,726,000 | 1,821,427,000 |
| 2024-12-31 | 16,819,866,000 | 444,321,000 | 2,955,827,000 |
| 2025-12-31 | 22,938,469,000 | 1,578,149,000 | 4,514,040,000 |
Published P/E Ratio
Published valuation snapshots retain each observation's earnings basis.
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| Period end | P/E (times earnings) | Earnings basis |
|---|---|---|
| 2025-12-31 | 51.43 | Trailing four quarters |
| 2024-12-31 | 144.86 | Trailing four quarters |
| 2023-12-31 | 91.95 | Trailing four quarters |
Profitability Margins
Matching annual reporting dates. Values are percentages.
Scroll the table to see every column.
| Period end | Gross margin (%) | Operating margin (%) | Net margin (%) | Free cash flow margin (%) |
|---|---|---|---|---|
| 2016-12-31 | 32.71 | -59.42 | -64.47 | -40.29 |
| 2017-12-31 | 21.08 | -121.29 | -135.32 | -99.95 |
| 2018-12-31 | 1.78 | -119.57 | -116.24 | -81.47 |
| 2019-12-31 | 27.81 | -40.97 | -67.24 | -8.15 |
| 2020-12-31 | 30.83 | -29.79 | -36.98 | 5.02 |
| 2021-12-31 | 39.13 | -15.9 | -20.56 | -6.01 |
| 2022-12-31 | 41.65 | -11.95 | -13.26 | -16.32 |
| 2023-12-31 | 44.66 | 1.72 | 1.15 | 13.94 |
| 2024-12-31 | 42.84 | 3.94 | 2.64 | 17.57 |
| 2025-12-31 | 44.66 | 8.13 | 6.88 | 19.68 |
Public data excerpt created by iPulse AI and published by Future Edge Group FZE. Source: eodhd. Snapshot retrieved 2026-09-29.
Use is subject to the iPulse AI Terms of Service and applicable source rights. Missing inputs are not estimated. Full access includes the remaining records, research and interactive tools.
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