Is Sea financially healthy?

On 30 June 2026 Sea held 9.10B USD in cash and short-term investments against total debt of 4.13B USD. Its current ratio is 1.49: what falls due within a year against what turns into cash within a year.

Sea's revenue grew 39.3% a year over its last five fiscal years, from 4.38B USD in fiscal year 2020 to 22.94B USD in fiscal year 2025. Over the last twelve months it was up 43.1% on the twelve months before.

Where can I find Sea's annual report (20-F)?

Sea, a company based outside the US, files its annual report (Form 20-F) and its interim reports (Form 6-K) with the US Securities and Exchange Commission, on its EDGAR site; the figures on these pages come from them.

Sea
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Arincen ScoreBeta68/100

68/100B

82.410

USD

4.68

(6.00%)

Market Open

Last updated: 10 Nov, 10:56 GMT-5 · Delayed 15 min

Q3 FY2026 results

EPS0.78-17.1%Revenue8.60B+6.5%

Q3 FY2026 results

Reported Tuesday 10 November

EPS0.78Missed -17.1%(est. 0.94)Revenue8.60BBeat +6.5%(est. 8.08B)

Q3 FY2026 results

EPS0.78-17.1%Revenue8.60B+6.5%

Q3 FY2026 results

Reported Tuesday 10 November

EPS0.78Missed -17.1%(est. 0.94)Revenue8.60BBeat +6.5%(est. 8.08B)

Overview Financials Forecast Earnings Dividends Company

Sea financials

Yes. Sea earned 1.64B USD of net income over the last twelve months, 5.9% of its revenue. It made a profit in 3 of its 12 fiscal years since 2014. Its last loss was in fiscal year 2022.

Revenue (TTM)What does TTM (trailing twelve months) mean? TTM (trailing twelve months) is a figure over the latest twelve months of reports: usually the last four quarters added together.: 27.72B USD
Net income (TTM)What is an income statement? The income statement shows a company's revenue, costs and profit over a quarter or a year, from sales at the top to net income at the bottom.: 1.64B USD
Cash and short-term investments: 9.10B USD
Total debt: 4.13B USD
Shareholders' equityWhat is a balance sheet? The balance sheet lists what a company owns (assets), what it owes (liabilities) and what is left for its shareholders (equity) on one date.: 12.91B USD

Cash, debt and equity as of 30 Jun 2026.

Sea earnings

Revenue

ReportedEstimate

EPS

ReportedEstimate

Period	Report date	EPS estimate	Reported EPS	Surprise	EPS growth	Revenue estimate	Reported revenue	Surprise	Revenue growth
Q4 FY2026	—	0.98	—	—	+48.55%	8.92B	—	—	+30.24%
Q3 FY2026	10 Nov 2026	0.94	0.78	-17.11%	0.00%	8.08B	8.60B	+6.50%	+43.67%
Q2 FY2026	11 Aug 2026	0.86	0.86	+0.12%	+1.18%	7.12B	7.79B	+9.42%	+46.87%
Q1 FY2026	12 May 2026	0.83	0.84	+1.20%	-2.33%	6.46B	7.10B	+9.95%	+46.78%
Q4 FY2025	3 Mar 2026	0.82	0.66	-19.12%	+6.45%	6.45B	6.85B	+6.21%	+38.41%
Q3 FY2025	11 Nov 2025	1.03	0.78	-24.27%	+44.44%	6.42B	5.99B	-6.75%	+38.30%
Q2 FY2025	12 Aug 2025	0.99	0.85	-14.14%	+84.78%	5.60B	5.30B	-5.32%	+39.64%

Period	EPS estimate	Reported EPS	Surprise	EPS growth	Revenue estimate	Reported revenue	Surprise	Revenue growth
FY2028	5.79	—	—	+25.41%	44.85B	—	—	+15.55%
FY2027	4.61	—	—	+27.55%	38.82B	—	—	+22.90%
FY2026	3.62	—	—	+14.82%	31.58B	—	—	+37.46%
FY2025	3.18	3.15	-1.03%	+99.37%	22.55B	22.98B	+1.88%	+36.68%
FY2024	1.49	1.58	+6.02%	+6.04%	16.64B	16.81B	+1.01%	+28.43%
FY2023	1.00	1.49	+48.51%	—	13.00B	13.09B	+0.68%	+5.13%
FY2022	-3.83	-1.24	+67.60%	—	11.98B	12.45B	+3.89%	+25.06%

Sea growth and profitability

Full income statement

Revenue (TTM)What does TTM (trailing twelve months) mean? TTM (trailing twelve months) is a figure over the latest twelve months of reports: usually the last four quarters added together.: 27.72B USD
Net income (TTM)What is an income statement? The income statement shows a company's revenue, costs and profit over a quarter or a year, from sales at the top to net income at the bottom.: 1.64B USD
Gross marginWhat are gross, operating and net profit margins? A profit margin is the share of revenue kept as profit: gross margin after the cost of sales, operating margin after running costs, net margin after all costs.: 44.34%
Operating margin: 7.95%
Net margin: 5.91%

Revenue / Net income

Revenue Net income Net margin

Period	Revenue	Growth	Net income	Growth	Gross margin	Operating margin	Net margin	EBITDA	Growth
FY2025	22.94B	+36.38%	1.58B	+255.18%	44.66%	8.13%	6.88%	2.67B	+122.87%
FY2024	16.82B	+28.75%	444.32M	+194.79%	42.84%	3.94%	2.64%	1.20B	+52.77%
FY2023	13.06B	+4.93%	150.73M	—	44.66%	1.72%	1.15%	783.50M	—
FY2022	12.45B	+25.06%	-1.65B	—	41.65%	-11.95%	-13.26%	-704.22M	—
FY2021	9.96B	+127.51%	-2.05B	—	39.13%	-15.90%	-20.56%	-1.29B	—

Period	Revenue	Net income	Gross margin	Operating margin	Net margin
Q2 FY2026	7.79B	440.79M	45.58%	8.04%	5.66%
Q1 FY2026	7.10B	427.94M	44.32%	7.97%	6.03%
Q4 FY2025	6.85B	397.10M	43.76%	7.85%	5.80%
Q3 FY2025	5.99B	372.04M	43.42%	7.95%	6.22%
Q2 FY2025	5.26B	414.20M	45.82%	9.27%	7.88%

How Sea makes its moneyWhat is an income statement? The income statement shows a company's revenue, costs and profit over a quarter or a year, from sales at the top to net income at the bottom.

E-Commerce (Shopee)16.56B 72.2%

Digital Financial Services (Monee)3.79B 16.5%

Digital Entertainment (Garena)2.41B 10.5%

Other Services173.46M 0.8%

Revenue22.94B 100.0%

Cost of revenue12.69B 55.3%

Gross profit10.24B 44.7%

Research and development1.16B 5.0%

Selling and administration7.22B 31.5%

Operating income1.86B 8.1%

Tax651.08M 2.8%

Net income1.58B 6.9%

FY2025, in USD. Each band is as wide as its money; the percentage is its share of revenue.

Sea revenue breakdown

By product

FY2025

72.2%E-Commerce (Shopee)16.5%Digital Financial Services (Monee)10.5%Digital Entertainment (Garena)

Segment	Revenue	Share of revenue	Change on the year
E-Commerce (Shopee)	16.56B	72.2%	+33.4%
Digital Financial Services (Monee)	3.79B	16.5%	+60.1%
Digital Entertainment (Garena)	2.41B	10.5%	+26.1%
Other Services	173.46M	0.8%	+37.3%

By region

FY2025

64.6%Latin America23.4%Rest of Asia9.3%Singapore2.7%Rest of World

Region	Revenue	Share of revenue	Change on the year
Latin America	5.53B	64.6%	+68.9%
Rest of Asia	2.01B	23.4%	+26.0%
Singapore	792.71M	9.3%	—
Rest of World	228.29M	2.7%	+28.2%

Operating and free cash flow

Full cash flow statement

Operating cash flow Free cash flow

Fiscal year	Operating cash flow	Free cash flow
FY2025	5.03B	4.51B
FY2024	3.28B	2.96B
FY2023	2.08B	1.82B
FY2022	-1.06B	-2.03B
FY2021	208.65M	-598.53M
FY2020	555.87M	219.59M
FY2019	69.87M	-177.23M
FY2018	-495.22M	-673.71M
FY2017	-334.23M	-413.98M
FY2016	-114.73M	-139.27M

Sea financial health

Full balance sheet

Cash and short-term investments: 9.10B USD
Total debt: 4.13B USD
Net cash: 4.97B USD
Free cash flow (TTM)What is free cash flow (FCF)? Free cash flow is the cash a company's operations bring in minus what it spends on long-term assets (capex): cash left for debt, dividends and buybacks.: 3.11B USD
Current ratioWhat is the current ratio? The current ratio is current assets divided by current liabilities: whether what a company will turn into cash within a year covers what it owes within a year.: 1.49
Debt to equityWhat is the debt to equity ratio? Debt to equity is a company's total debt divided by its shareholders' equity: how much it has borrowed for each dollar its owners have in the business.: 0.32
Piotroski scoreWhat is the Piotroski F-Score? The Piotroski F-Score rates a company's financial strength from 0 to 9: one point for each of nine tests of profit, debt and efficiency it passes.: 6 / 9
Altman Z-scoreWhat is the Altman Z-Score? The Altman Z-Score rolls five financial ratios into one number that signals a company's risk of bankruptcy: over 3 is safe, under 1.8 is distress.: 2.62

Cash, debt and free cash flow

Cash and short-term investments Total debt Free cash flow

Fiscal year	Cash and short-term investments	Total debt	Free cash flow
FY2025	12.79B	3.33B	4.51B
FY2024	8.62B	4.12B	2.96B
FY2023	5.36B	4.46B	1.82B
FY2022	6.89B	4.49B	-2.03B
FY2021	10.16B	4.25B	-598.53M

Assets, liabilities and equity

Total assets Total liabilities Shareholders' equity

Fiscal year	Total assets	Total liabilities	Shareholders' equity
FY2025	29.37B	16.72B	12.53B
FY2024	22.63B	14.15B	8.37B
FY2023	18.88B	12.19B	6.59B
FY2022	17.00B	11.19B	5.72B
FY2021	18.76B	11.33B	7.40B
FY2020	10.46B	7.04B	3.38B
FY2019	5.22B	4.05B	1.16B
FY2018	2.19B	2.43B	-243.14M
FY2017	1.99B	1.51B	469.03M
FY2016	485.78M	611.43M	-125.67M

Sea valuation

Price to earnings ratio (TTM)What is the P/E ratio? The P/E ratio divides a share's price by its earnings per share over the last year: what you pay for each dollar of profit.: 30.41
Forward P/E (FY2026)What is the forward P/E ratio? Forward P/E divides a share's price by the earnings per share analysts expect in the coming year, rather than last year's actual earnings.: 22.78
Price to sales (TTM)What is the P/S ratio? The price-to-sales ratio compares a company's market value with its revenue over the last year: what you pay for each dollar of sales.: 1.75
Price to bookWhat is the P/B ratio? The price-to-book ratio compares a company's market value with its book value, the shareholders' equity on its balance sheet.: 3.76
EV / EBITDA (TTM)What is EV/EBITDA? EV/EBITDA compares a company's whole value, debt included and cash taken off, with a year of its earnings before interest, tax and depreciation.: 15.22

Capital structureWhat is enterprise value? Enterprise value is what the whole business costs: the market value of its shares plus its debt minus its cash. It is the price behind EV/EBITDA.

Market capitalization

48.51B USD

Total debt

4.13B USD

−

Cash and short-term investments

9.10B USD

Enterprise value

43.54B USD

Valuation over time

P/EForward P/EForward P/E · EstimateEstimate

Fiscal year	P/E	Forward P/E	P/S	P/B	EV/EBITDA
FY2028 (est.)	14.24	—	—	—	—
FY2027 (est.)	17.86	14.24	—	—	—
FY2026 (est.)	22.78	17.86	—	—	—
Now (TTM)	30.41	18.42	1.75	3.76	15.22
FY2025	48.14	33.33	3.31	6.06	27.31
FY2024	137.79	33.33	3.63	7.29	52.40
FY2023	150.00	52.56	1.76	3.48	31.40
FY2022	-17.58	52.56	2.33	5.08	-39.04
FY2021	-58.26	—	11.97	16.11	-88.22

Sea against its own historyWhat does "against its own history" show? The company's latest margins, return on equity, growth, debt and P/E against its own last 5 years: the low, the median and the high, and whether this year is better or worse than usual.

Each figure in the latest fiscal year against the same figure from FY2021 to FY2025: the range, its median (the line) and the latest (the dot, green on the good side of the median). The P/E is today's against its daily readings of five years.

Its peers: AutoZone, eBay, Williams-Sonoma, Coupang, Ulta Beauty, and O'Reilly Automotive, the US Specialty Retail companies closest to it in size, each in its own latest fiscal year: their median (the line) and its rank among them, first being the best.

Gross marginHighest in 5 years44.7%
39.1%44.7%
Against its peers: 5 of 7Peers' median 48.9%
Operating marginHighest in 5 years8.1%
-15.9%8.1%
Against its peers: 6 of 7Peers' median 18.2%
Net marginHighest in 5 years6.9%
-20.6%6.9%
Against its peers: 6 of 7Peers' median 13.3%
Return on equityHighest in 5 years12.6%
-28.9%12.6%
Against its peers: 4 of 5Peers' median 42.6%
Free cash flow marginHighest in 5 years19.7%
-16.3%19.7%
Against its peers: 1 of 7Peers' median 8.9%
Revenue growthAbove its median36.4%
4.9%127.5%
Against its peers: 1 of 7Peers' median 7.7%
Debt to EBITDALowest in 5 years1.25×
1.25×5.70×
Against its peers: 3 of 7Peers' median 2.31×
Current ratioAt its median1.58
1.442.11
Against its peers: 1 of 7Peers' median 1.07

Figure	FY2025	5-year low – high	Against its history	Against its peers
Gross margin	44.7%	39.1%44.7%	Highest in 5 years	5 of 7
Operating margin	8.1%	-15.9%8.1%	Highest in 5 years	6 of 7
Net margin	6.9%	-20.6%6.9%	Highest in 5 years	6 of 7
Return on equity	12.6%	-28.9%12.6%	Highest in 5 years	4 of 5
Free cash flow margin	19.7%	-16.3%19.7%	Highest in 5 years	1 of 7
Revenue growth	36.4%	4.9%127.5%	Above its median	1 of 7
Debt to EBITDA	1.25×	1.25×5.70×	Lowest in 5 years	3 of 7
Current ratio	1.58	1.442.11	At its median	1 of 7

Peers: US companies of the same industry (of its sector when the industry has too few) from a tenth to ten times its market value, the six closest in size. Updated weekly.

Sea dividends

Frequency: Quarterly
Last payment: 0.44 USD
Last ex-dividend dateWhat is the ex-dividend date? The ex-dividend date is the first day a stock trades without its next dividend: buy before it to receive the payment; buy on or after it and the seller gets it.: 13 Feb 2017
Last payment date: 1 Mar 2017

Dividends per share

Year	2017	2016	2015	2014	2013	2012	2011	2010	2009
Dividends per share	0.44	1.62	1.48	1.38	1.22	1.15	1.06	1.00	0.50

Sea ownership

InstitutionsWhat is institutional ownership? Institutional ownership is the share of a company's stock held by funds, banks and other investment managers, as they report it each quarter on Form 13F.: 62.06%
Institutional holders: 842 (+32)
Free floatWhat is free float? Free float is the part of a company's shares that anyone can buy and sell: all its shares minus those held by insiders, founders and owners of over 5%.: 93.99%

Who owns the shares

Institutions 62.1% Others 37.9%

As of 30 Jun 2026

Shares free to trade

Free float 553.28M shares ·94.0% Closely held 35.37M shares ·6.0%

Closely held shares belong to insiders, founders and owners of more than 5%, and seldom change hands. The free float is the rest: the shares anyone can buy and sell.

Insider trading

Quarter	Sales	Shares acquired	Shares disposed of
Q4 2026	98	3.30M	3.41M
Q3 2026	588	150.00K	3.08M
Q2 2026	607	0.00	1.96M
Q1 2026	69	1.48M	1.63M

Shares outstanding

Basic shares Diluted shares Change in diluted shares

Fiscal year	Basic shares	Diluted shares	Change in diluted shares
FY2025	595.02M	638.23M	+5.54%
FY2024	574.97M	604.71M	+1.73%
FY2023	566.61M	594.41M	+6.50%
FY2022	558.12M	558.12M	+4.77%
FY2021	532.71M	532.71M	+11.62%

Common questions about Sea's financials

Source: Financial Modeling Prep

Sea
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Sea financials

Sea earnings

Revenue

EPS

Sea growth and profitability

Revenue / Net income

How Sea makes its moneyWhat is an income statement? The income statement shows a company's revenue, costs and profit over a quarter or a year, from sales at the top to net income at the bottom.

Sea revenue breakdown

By product

By region

Operating and free cash flow

Sea financial health

Cash, debt and free cash flow

Assets, liabilities and equity

Sea valuation

Capital structureWhat is enterprise value? Enterprise value is what the whole business costs: the market value of its shares plus its debt minus its cash. It is the price behind EV/EBITDA.

Valuation over time

Sea against its own historyWhat does "against its own history" show? The company's latest margins, return on equity, growth, debt and P/E against its own last 5 years: the low, the median and the high, and whether this year is better or worse than usual.

Sea dividends

Dividends per share

Sea ownership

Who owns the shares

Shares free to trade

Insider trading

Shares outstanding

Common questions about Sea's financials

Is Sea profitable?

Is Sea financially healthy?

Is Sea growing?

Where can I find Sea's annual report (20-F)?

Need help?

Sea DQuotes are delayed by 15 minutes

SE

Sea financials

Sea earnings

Revenue

EPS

Sea growth and profitability

Revenue / Net income

How Sea makes its moneyWhat is an income statement? The income statement shows a company's revenue, costs and profit over a quarter or a year, from sales at the top to net income at the bottom.

Sea revenue breakdown

By product

By region

Operating and free cash flow

Sea financial health

Cash, debt and free cash flow

Assets, liabilities and equity

Sea valuation

Capital structureWhat is enterprise value? Enterprise value is what the whole business costs: the market value of its shares plus its debt minus its cash. It is the price behind EV/EBITDA.

Valuation over time

Sea against its own historyWhat does "against its own history" show? The company's latest margins, return on equity, growth, debt and P/E against its own last 5 years: the low, the median and the high, and whether this year is better or worse than usual.

Sea dividends

Dividends per share

Sea ownership

Who owns the shares

Shares free to trade

Insider trading

Shares outstanding

Common questions about Sea's financials

Is Sea profitable?

Is Sea financially healthy?

Is Sea growing?

Where can I find Sea's annual report (20-F)?

Need help?

Sea
D
Quotes are delayed by 15 minutes