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What this page is: Delvantic's full research page for Sea Ltd. (SE) — AI-driven forensic equity research: mechanical valuation models (DCF, EPV, anchored-PE, scenario) plus three independent AI lenses (Quality / Value / Sentiment). Everything below is rendered server-side; you are not missing content that requires JavaScript. All scores are predictions and research opinions, not financial advice.
Page map (sections in order; each card carries a stable
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profile-header/price-overview— company profile, live quote, market capextended-analysis— the core: three AI lens reads with findings, scores, and the analyst memofuture-predictions— our forward price-band predictionsmarket-narrative/ai-findings/gpt-critique— narrative context, cross-model findings, and an adversarial critique of our own analysis (near the end of the document)- Members-only sections (render as login gates for anonymous readers):
price-history,income-trend,key-metrics,financials(statement tables),insider-trading. The analysis above is public; the raw data tables require a free account.
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any ticker resolves at delvantic.com/stock/TICKER ·
raw inputs are public-company filings and market data (via licensed data feeds);
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Consumer Cyclical · Internet Retail
Singapore, 138522, Singapore
sea.com
Price
$113.43
Market Cap
$69.5B
Employees
102,700
Beta
1.51
Avg Volume
4,625,247
CEO
Mr. Xiaodong Li
Sea Ltd. is a consumer internet company headquartered in Singapore that operates three core digital platforms across emerging markets. Its Digital Entertainment segment, known as Garena, develops and publishes online and mobile games, distributing titles and in-house franchises to a broad user base. The E-Commerce segment operates Shopee, a leading online marketplace that connects buyers and sellers, supporting third-party merchants with integrated logistics, marketing tools, and localized user experiences. Through Shopee’s mobile app and web platform, Sea facilitates retail transactions across multiple product categories, serving consumers and small businesses. The Digital Financial Services segment, branded as SeaMoney, provides digital payments, wallets, and lending solutions to individuals and merchants, supporting transactions within and beyond Sea’s own ecosystem. Founded in 2007 and based in Singapore, Sea Ltd. plays a significant role in the digitalization of commerce, entertainment, and financial services in Southeast Asia and other growth markets by integrating content, marketplace activity, and financial infrastructure into a unified digital network.
Runs with full report
Earnings Schedule
Checked daily · calendar updated Aug 9 No upcoming print on the calendar yet — companies typically confirm a few weeks ahead. Last print was May 12, 2026.
EPS surprise history — vs analyst consensus · 5 prints of vendor history
-20.0%
Nov '25
+85.0%
Dec '25
-4.9%
Mar '26
+74.3%
Mar '26
+5.2%
May '26
| Print date | EPS est. | EPS actual | Revenue est. | Revenue actual |
|---|---|---|---|---|
| May 12, 2026 | $0.77 | $0.81 +5.2% | — | — |
| Mar 27, 2026 | $-3.78 | $-0.97 +74.3% | — | — |
| Mar 3, 2026 | $0.81 | $0.77 -4.9% | — | — |
| Dec 11, 2025 | $-2.13 | $-0.32 +85.0% | — | — |
| Nov 11, 2025 | $0.95 | $0.76 -20.0% | — | — |
Green = beat the estimate, red = missed. An earnings print is the fastest way a thesis changes — our designations should be re-read after each one.
Recent SEC Filings
| Filed | Form | Document |
|---|---|---|
| Aug 7, 2026 | 4 | View |
| Aug 7, 2026 | 4 | View |
| Aug 5, 2026 | 4 | View |
| Aug 5, 2026 | 4 | View |
| Aug 3, 2026 | 4 | View |
| Aug 3, 2026 | 4 | View |
| Jul 30, 2026 | 4 | View |
| Jul 30, 2026 | 4 | View |
| Jul 28, 2026 | 4 | View |
| Jul 28, 2026 | 4 | View |
| Jul 24, 2026 | 4 | View |
| Jul 24, 2026 | 4 | View |
Filings link to the SEC’s EDGAR system. Annual/quarterly reports (10-K, 10-Q, 20-F) carry the full story; 8-K/6-K current reports are the fastest signal that something material happened.
Price Overview
Last updated: Aug 9, 2026 2:31am (just now)
Current data · timestamped when a report runs
$113.43
Change · Aug 9
+2.43 (+2.19%)
Day Range
$111.86 – $114.51
52-Week Range
$77.05 – $199.30
50-Day MA
$99.02
200-Day MA
$109.26
Volume
4,314,600.00
Share Structure
Outstanding
612,484,522.00
Float
401,180,712.00
Free Float
65.5%
Normal free float
— 65.5% of shares trade freely, ~34.5% held by insiders/institutions
Healthy float typical of established companies. Good liquidity for entering and exiting positions without major price impact.
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Why there are no quarterly figures for Sea Ltd.
This company does not file structured financial statements with the U.S. SEC, so quarterly figures aren't available from our filings-based data engine. Annual figures shown here come from the sources that do cover it.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
TD Twelve Data statement
HEX SEC filing
P/E Ratio (Price per dollar of earnings)
HEXStock Price / EPS (Diluted)
45.01
Stock Price: $113.43
EPS (Diluted): 2.52
EPS (Diluted): 2.52
P/B Ratio (Price vs net asset value)
HEXStock Price / Book Value Per Share
5.72
Stock Price: $113.43
Total Equity: $12.65B
Shares: 638,227,141
Total Equity: $12.65B
Shares: 638,227,141
EV/EBITDA (Total value vs operating profit)
HEXEnterprise Value / EBITDA
26.87
Market Cap: $69.47B
Total Debt: $0.00
Cash: $4.16B
EBITDA: $2.36B
Total Debt: $0.00
Cash: $4.16B
EBITDA: $2.36B
Enterprise Value (Takeover price (cap + debt - cash))
HEXMarket Cap + Total Debt - Cash
$63.3B
Market Cap: $69.47B
Total Debt: $0.00
Cash: $4.16B
Total Debt: $0.00
Cash: $4.16B
Gross Margin (Revenue left after direct costs)
HEXGross Profit / Revenue
44.7%
Gross Profit: $10.24B
Revenue: $22.94B
Revenue: $22.94B
Operating Margin (Revenue left after all operations)
HEXOperating Income / Revenue
8.7%
Operating Income: $1.99B
Revenue: $22.94B
Revenue: $22.94B
Net Margin (Revenue left as actual profit)
HEXNet Income / Revenue
6.9%
Net Income: $1.58B
Revenue: $22.94B
Revenue: $22.94B
ROE (Profit from shareholder equity)
HEXNet Income / Total Equity
12.5%
Net Income: $1.58B
Total Equity: $12.65B
Total Equity: $12.65B
ROIC (Profit from all invested capital)
HEXNOPAT / Invested Capital
16.7%
Operating Income: $1.99B
Tax Rate: 28.5%
Equity: $12.65B
Total Debt: $0.00
Cash: $4.16B
Tax Rate: 28.5%
Equity: $12.65B
Total Debt: $0.00
Cash: $4.16B
Zero debt — invested capital = equity minus cash (very efficient)
Current Ratio (Can it pay short-term bills)
HEXCurrent Assets / Current Liabilities
1.58
Current Assets: $23.25B
Current Liabilities: $14.68B
Current Liabilities: $14.68B
Debt/Equity (Leverage — debt vs equity)
HEXTotal Debt / Total Equity
0.00
Short-Term Debt: $0.00
Long-Term Debt: $0.00
Total Debt: $0.00
Total Equity: $12.65B
Long-Term Debt: $0.00
Total Debt: $0.00
Total Equity: $12.65B
Zero debt — this company carries no debt obligations. Strongest possible score.
Rev/Share (Top-line per share)
HEXRevenue / Shares Outstanding
$35.94
Revenue: $22.94B
Shares: 638,227,141
Shares: 638,227,141
Book Value/Share (Net assets per share)
HEX(Total Assets - Total Liabilities) / Shares
$19.82
Total Equity: $12.65B
Shares: 638,227,141
Shares: 638,227,141
FCF/Share (Real cash generated per share)
HEX(Operating Cash Flow + CapEx) / Shares
$7.07
Operating CF: $5.02B
CapEx: -$513.81M
Shares: 638,227,141
CapEx: -$513.81M
Shares: 638,227,141
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
TDLast Annual Dividend / Stock Price
—
Last Dividend: $0.00
Stock Price: $113.43
Stock Price: $113.43
Payout Ratio (Earnings paid out as dividends)
HEXDividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: $1.58B
Net Income: $1.58B
Dividends paid not available in cash flow statement
Income Statement (Annual)
Last updated: Aug 7, 2026 6:03am (1d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | — | — | $13.1B | $16.8B | $22.9B |
| Cost of Revenue | $6.1B | $7.3B | $7.2B | $9.6B | $12.7B |
| Gross Profit | $3.9B | $5.2B | $5.8B | $7.2B | $10.2B |
| Operating Expenses | $5.5B | $6.7B | $5.6B | $6.5B | $8.3B |
| Operating Income | -$1.6B | -$1.5B | $224.8M | $662.2M | $2.0B |
| Net Income | -$2.0B | -$1.7B | $150.7M | $444.3M | $1.6B |
| EBITDA | -$1.3B | -$1.1B | $665.6M | $1.1B | $2.4B |
| EPS | $-3.84 | $-2.96 | $0.27 | $0.77 | $2.65 |
| EPS (Diluted) | $-3.84 | $-2.96 | $0.25 | $0.74 | $2.52 |
Balance Sheet (Annual)
Last updated: Aug 7, 2026 6:03am (1d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $9.2B | $6.0B | $2.8B | $2.4B | $4.2B |
| Total Current Assets | $15.1B | $12.7B | $11.8B | $16.9B | $23.2B |
| Total Assets | $18.8B | $17.0B | $18.9B | $22.6B | $29.4B |
| Current Liabilities | $7.2B | $6.9B | $8.2B | $11.3B | $14.7B |
| Long-Term Debt | — | — | — | — | — |
| Total Liabilities | $11.3B | $11.2B | $12.2B | $14.1B | $16.7B |
| Total Equity | $7.4B | $5.8B | $6.7B | $8.5B | $12.6B |
| Retained Earnings | -$7.2B | -$8.7B | -$8.6B | -$8.2B | -$6.6B |
Cash Flow (Annual)
Last updated: Aug 7, 2026 6:03am (1d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | $208.6M | -$1.1B | $2.1B | $3.3B | $5.0B |
| Capital Expenditure | -$772.2M | -$924.2M | -$241.6M | -$318.2M | -$513.8M |
| Free Cash Flow | -$563.5M | -$2.0B | $1.8B | $3.0B | $4.5B |
| Acquisitions (net) | -$22.8M | -$60.7M | $0 | $0 | — |
| Net Debt Issued / (Repaid) | $3.0B | $49.0M | $0 | $0 | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | — | — | $0 | $0 | -$14.0M |
| Net Change in Cash | $3.8B | -$3.2B | -$3.4B | -$162.1M | $2.3B |
Growth Trends (YoY %)
Last updated: Aug 7, 2026 6:03am (1d ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | — | — | +28.8% | +36.4% |
| Gross Profit Growth | +33.1% | +12.5% | +23.5% | +42.2% |
| Operating Income Growth | +6.0% | +115.1% | +194.6% | +199.8% |
| Net Income Growth | +19.3% | +109.1% | +194.8% | +255.2% |
| EBITDA Growth | +18.8% | +162.8% | +58.0% | +124.1% |
Insider Trading (Recent)
Type codes
PPurchase
SSale
AAward / grant
MOption exercise
FIn-kind (tax)
CConversion
GGift
DReturn to issuer
All SEC Form 4 codes
Open market
- P Purchase
- Open-market or private purchase of shares.
- S Sale
- Open-market or private sale of shares.
Compensation (Rule 16b-3)
- A Award / grant
- Grant or award of securities (RSUs, options, etc.) under Rule 16b-3.
- D Return to issuer
- Securities disposed back to the company under Rule 16b-3.
- F In-kind (tax)
- Shares withheld or delivered to pay the option-exercise price or tax — not an open-market sale.
- I Discretionary
- Discretionary transaction under an employee plan — Rule 16b-3(f).
- M Option exercise
- Exercise or conversion of a derivative (option/RSU) into shares — exempt.
Derivatives
- C Conversion
- Conversion of a derivative security into the underlying shares.
- E Short expiration
- Expiration of a short derivative position.
- H Long expiration
- Expiration or cancellation of a long derivative position with value received.
- O OTM exercise
- Exercise of an out-of-the-money derivative.
- X ITM exercise
- Exercise of an in-the-money or at-the-money derivative.
Other exempt
- G Gift
- Bona fide gift of securities.
- L Small acquisition
- Small acquisition under Rule 16a-6.
- W Inheritance
- Acquisition or disposition by will or the laws of descent.
- Z Voting trust
- Deposit into or withdrawal from a voting trust.
Other
- J Other
- Other acquisition or disposition (explained in a Form 4 footnote).
- K Equity swap
- Transaction in an equity swap or similar instrument.
- U Tender / buyout
- Disposition via tender of shares in a change-of-control transaction.
Compensation-plan codes (A, D, F, M) are routine and rarely directional. Open-market P (buy) and S (sale) carry the most signal.
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-07-31 | Ye Gang | S-Sale | 3,139.00 | $105.94 | $332,546 |
| 2026-07-31 | Ye Gang | S-Sale | 15,932.00 | $106.88 | $1.7M |
| 2026-07-31 | Ye Gang | S-Sale | 929.00 | $107.39 | $99,765 |
| 2026-07-31 | Wang Yanjun | S-Sale | 248.00 | $106.02 | $26,293 |
| 2026-07-31 | Wang Yanjun | S-Sale | 926.00 | $106.94 | $99,026 |
| 2026-07-31 | Wang Yanjun | S-Sale | 26.00 | $107.44 | $2,793 |
| 2026-07-30 | Ye Gang | S-Sale | 3,800.00 | $104.53 | $397,214 |
| 2026-07-30 | Ye Gang | S-Sale | 15,200.00 | $105.66 | $1.6M |
| 2026-07-30 | Ye Gang | S-Sale | 1,000.00 | $106.12 | $106,120 |
| 2026-07-30 | Wang Yanjun | S-Sale | 175.00 | $104.44 | $18,277 |
| 2026-07-30 | Wang Yanjun | S-Sale | 849.00 | $105.47 | $89,544 |
| 2026-07-30 | Wang Yanjun | S-Sale | 176.00 | $105.97 | $18,651 |
| 2026-07-29 | Wang Yanjun | S-Sale | 524.00 | $107.67 | $56,419 |
| 2026-07-29 | Wang Yanjun | S-Sale | 521.00 | $108.75 | $56,659 |
| 2026-07-29 | Wang Yanjun | S-Sale | 455.00 | $109.83 | $49,973 |
| 2026-07-29 | Ye Gang | S-Sale | 9,510.00 | $107.66 | $1.0M |
| 2026-07-29 | Ye Gang | S-Sale | 5,470.00 | $108.69 | $594,534 |
| 2026-07-29 | Ye Gang | S-Sale | 5,020.00 | $109.53 | $549,841 |
| 2026-07-28 | Wang Yanjun | S-Sale | 283.00 | $103.51 | $29,293 |
| 2026-07-28 | Wang Yanjun | S-Sale | 422.00 | $104.37 | $44,044 |
Industry Benchmarks
Compares SE against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
Not applicable for this companies
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
Not applicable for this companies
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
Not applicable for this companies
4h
Dividend Discount Model
— For dividend/income stocks only
Not applicable for this companies
4i
Book Value Analysis
— For deep value / turnaround stocks only
Not applicable for this companies
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
Not applicable for this companies
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for SE — it's generated by the pipeline (
market-narrative step).
Claude Reading
No AI findings yet for SE — they're generated by the
pipeline (
ai-findings step) when a report is run on this ticker.
GPT Reading
No GPT reading yet for SE — it's generated by the
pipeline (
gpt-critique step) after the other Big-3 seats, when a
report is run on this ticker.
Grok Reading
No Grok reading yet for SE — it's generated by the
pipeline (
grok-critique step) alongside the other Big-3 seats, when a
report is run on this ticker.
Advanced Analysis Forensic deep-dive · three lenses
Character & Durability Scorecard
Ten long-horizon business-character traits the Quality / Value / Sentiment lenses don’t break out, scored 1–10.
No scorecard yet for SE — the ten traits are scored by the
pipeline (
ext-scorecard step) when a report is run on this ticker.
No community reviews yet for SE.
Be the first — hit How to Contribute, have any AI review this page, and paste its take back here.
My Notes
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Data via Financial Modeling Prep · Cached for performance · twelvedata
v1.1.515 · 9f7cac68 · 2026-08-08 13:09:58