PerpEquities

Equity

Sea Limited (SE) perpetual futures

Sea Limited operates digital entertainment through Garena, e-commerce through Shopee, and digital financial services through SeaMoney, including payment, credit and digital banking offerings.

-9.1%NYSE closed
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Trading data

Perpetual market activity

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24h volume
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Open interest
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Best liquidity
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Tightest spread
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Highest volume
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Settlement mix
USDT · 1/1
Perp/spot vol.
-
OI / float
-
Spot performance
1D-9.09%
5D-19.04%
1M-21.65%
6M-7.37%
YTD-36.95%
1Y-51.14%

Venue matrix

1 markets

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Company data

Company fundamentals

Updated 1h ago
Market cap
$49.3B
Updated 1h ago
Revenue
$27.7B
Trailing 12 months
Revenue growth
+38%
Next fiscal year
Profit margin
+5.9%
P/E
29.7
Peer P/E 32.0
Free cash flow
$3.1B
Trailing 12 months
More metrics
Net income
$1.6B
Trailing 12 months
P/S
1.8
Peer P/E
32.0
Similar listed perps
Revenue estimate
$31.6B
Next fiscal year
Earnings
2026-11-10
Revenue est. $8.1B · Updated 1h ago
Dividend
$0.44
2017-02-13

Fundamental detail

Annual + quarterly
Latest revenue$22.9B
Net margin+6.9%
Free cash flow$4.5B
Net debt-$3B
2020$4.4B
2021$10B
2022$12.4B
2023$13.1B
2024$16.8B
2025$22.9B
PeriodRevenueGrowthNet incomeFCF
2020$4.4B+101%-$1.6B$219.6M
2021$10B+128%-$2B-$598.5M
2022$12.4B+25%-$1.7B-$2B
2023$13.1B+5%$150.7M$1.8B
2024$16.8B+29%$444.3M$3B
2025$22.9B+36%$1.6B$4.5B
PeriodGross marginOperating marginNet marginROEROA
2020+30.8%-29.8%-37.0%-47.8%-15.5%
2021+39.1%-15.9%-20.6%-27.7%-10.9%
2022+41.6%-11.9%-13.3%-28.9%-9.7%
2023+44.7%+1.7%+1.2%+2.3%+0.8%
2024+42.8%+3.9%+2.6%+5.3%+2.0%
2025+44.7%+8.1%+6.9%+12.6%+5.4%
PeriodCashDebtNet debtCurrent ratio
2020$6.2B$2.1B-$4.1B1.93
2021$9.2B$4.3B-$5B2.11
2022$6B$4.5B-$1.5B1.83
2023$2.8B$4.5B$1.7B1.44
2024$2.4B$4.1B$1.7B1.49
2025$6.4B$3.3B-$3B1.58
PeriodMarket capEnterprise valueP/SP/E
2020$95B$90.9B21.7-58.7
2021$119.2B$114.2B12.0-58.3
2022$29B$27.5B2.3-17.6
2023$22.9B$24.6B1.8150.0
2024$61B$62.7B3.6137.8
2025$75.9B$72.9B3.348.1
Q3 2024$4.3B
Q4 2024$5B
Q1 2025$4.8B
Q2 2025$5.3B
Q3 2025$6B
Q4 2025$6.9B
Q1 2026$7.1B
Q2 2026$7.8B
PeriodRevenueGrowthNet incomeFCF
Q3 2024$4.3B+31%$153.3M$1B
Q4 2024$5B+37%$237.3M$931.8M
Q1 2025$4.8B+30%$403.1M$756.9M
Q2 2025$5.3B+38%$414.2M$1.4B
Q3 2025$6B+38%$372M$1B
Q4 2025$6.9B+38%$397.1M$0
Q1 2026$7.1B+47%$427.9M$918.9M
Q2 2026$7.8B+48%$440.8M$1.1B
PeriodGross marginOperating marginNet marginROEROA
Q3 2024+43.0%+4.7%+3.5%+1.9%+0.7%
Q4 2024+44.6%+6.2%+4.8%+2.8%+1.0%
Q1 2025+46.2%+9.4%+8.3%+4.5%+1.7%
Q2 2025+45.8%+9.3%+7.9%+4.3%+1.6%
Q3 2025+43.4%+8.0%+6.2%+3.6%+1.4%
Q4 2025+43.8%+7.8%+5.8%+3.2%+1.4%
Q1 2026+44.3%+8.0%+6.0%+3.3%+1.4%
Q2 2026+45.6%+8.0%+5.7%+3.4%+1.4%
PeriodCashDebtNet debtCurrent ratio
Q3 2024$2.5B$4.4B$1.9B1.62
Q4 2024$2.4B$4.1B$1.7B1.49
Q1 2025$2.2B$4.1B$2B1.51
Q2 2025$2.2B$4.2B$2B1.55
Q3 2025$3.1B$4.2B$1.2B1.44
Q4 2025$6.4B$3.3B-$3B1.58
Q1 2026$6.3B$3.6B-$2.7B1.58
Q2 2026$3.5B$4.1B$597.2M1.49
PeriodMarket capEnterprise valueP/SP/E
Q3 2024$54.1B$56B12.590.7
Q4 2024$61.5B$63.3B12.464.7
Q1 2025$77B$79B15.948.0
Q2 2025$94.7B$96.7B18.057.9
Q3 2025$106.4B$107.6B17.870.9
Q4 2025$76.8B$73.8B11.248.3
Q1 2026$50.6B$48B7.129.6
Q2 2026$58.7B$59.3B7.533.3

Refreshed 1h ago

Charts: revenue, profit, cash flow & valuation
Revenue$7.8BQ2 2026
$1.9B$3.9B$5.8B$7.8BQ3 2023: $3.3BQ4 2023: $3.6BQ1 2024: $3.7BQ2 2024: $3.8BQ3 2024: $4.3BQ4 2024: $5BQ1 2025: $4.8BQ2 2025: $5.3BQ3 2025: $6BQ4 2025: $6.9BQ1 2026: $7.1BQ2 2026: $7.8BQ3 2023Q2 2026
Net income$440.8MQ2 2026
$2.2M$148.4M$294.6M$440.8MQ3 2023: -$144MQ4 2023: -$109.7MQ1 2024: -$23.7MQ2 2024: $79.9MQ3 2024: $153.3MQ4 2024: $237.3MQ1 2025: $403.1MQ2 2025: $414.2MQ3 2025: $372MQ4 2025: $397.1MQ1 2026: $427.9MQ2 2026: $440.8MQ3 2023Q2 2026
EBITDA$740.7MQ2 2026
$189M$377.9M$566.9M$755.9MQ3 2023: $35.1MQ4 2023: $77MQ1 2024: $167.7MQ2 2024: $248.4MQ3 2024: $348.7MQ4 2024: $432.2MQ1 2025: $645.1MQ2 2025: $569.6MQ3 2025: $637.1MQ4 2025: $726.9MQ1 2026: $755.9MQ2 2026: $740.7MQ3 2023Q2 2026
Free cash flow$1.1BQ2 2026
$349.9M$699.9M$1B$1.4BQ3 2023: $555.8MQ4 2023: $264.4MQ1 2024: $440.5MQ2 2024: $552.4MQ3 2024: $1BQ4 2024: $931.8MQ1 2025: $756.9MQ2 2025: $1.4BQ3 2025: $1BQ4 2025: $0Q1 2026: $918.9MQ2 2026: $1.1BQ3 2023Q2 2026
EPS$0.7Q2 2026
-$0.02$0.22$0.46$0.7Q3 2023: -$0.26Q4 2023: -$0.19Q1 2024: -$0.04Q2 2024: $0.14Q3 2024: $0.26Q4 2024: $0.39Q1 2025: $0.63Q2 2025: $0.69Q3 2025: $0.59Q4 2025: $0.63Q1 2026: $0.67Q2 2026: $0.7Q3 2023Q2 2026
Cash / Debt$3.5BQ2 2026
$1.6B$3.2B$4.8B$6.4BQ3 2023 · Cash: $3.2BQ3 2023 · Debt: $4.6BQ4 2023 · Cash: $2.8BQ4 2023 · Debt: $4.5BQ1 2024 · Cash: $2.5BQ1 2024 · Debt: $4.2BQ2 2024 · Cash: $2.6BQ2 2024 · Debt: $4.2BQ3 2024 · Cash: $2.5BQ3 2024 · Debt: $4.4BQ4 2024 · Cash: $2.4BQ4 2024 · Debt: $4.1BQ1 2025 · Cash: $2.2BQ1 2025 · Debt: $4.1BQ2 2025 · Cash: $2.2BQ2 2025 · Debt: $4.2BQ3 2025 · Cash: $3.1BQ3 2025 · Debt: $4.2BQ4 2025 · Cash: $6.4BQ4 2025 · Debt: $3.3BQ1 2026 · Cash: $6.3BQ1 2026 · Debt: $3.6BQ2 2026 · Cash: $3.5BQ2 2026 · Debt: $4.1BQ3 2023Q2 2026
CashDebt
Profitability+45.6%Q2 2026
+8.3%+20.9%+33.6%+46.2%Q3 2023 · Gross margin: +43.5%Q4 2023 · Gross margin: +42.2%Q1 2024 · Gross margin: +41.6%Q2 2024 · Gross margin: +41.6%Q3 2024 · Gross margin: +43.0%Q4 2024 · Gross margin: +44.6%Q1 2025 · Gross margin: +46.2%Q2 2025 · Gross margin: +45.8%Q3 2025 · Gross margin: +43.4%Q4 2025 · Gross margin: +43.8%Q1 2026 · Gross margin: +44.3%Q2 2026 · Gross margin: +45.6%Q3 2023 · Operating margin: -3.9%Q4 2023 · Operating margin: -1.6%Q1 2024 · Operating margin: +1.9%Q2 2024 · Operating margin: +2.2%Q3 2024 · Operating margin: +4.7%Q4 2024 · Operating margin: +6.2%Q1 2025 · Operating margin: +9.4%Q2 2025 · Operating margin: +9.3%Q3 2025 · Operating margin: +8.0%Q4 2025 · Operating margin: +7.8%Q1 2026 · Operating margin: +8.0%Q2 2026 · Operating margin: +8.0%Q3 2023 · Net margin: -4.3%Q4 2023 · Net margin: -3.0%Q1 2024 · Net margin: -0.6%Q2 2024 · Net margin: +2.1%Q3 2024 · Net margin: +3.5%Q4 2024 · Net margin: +4.8%Q1 2025 · Net margin: +8.3%Q2 2025 · Net margin: +7.9%Q3 2025 · Net margin: +6.2%Q4 2025 · Net margin: +5.8%Q1 2026 · Net margin: +6.0%Q2 2026 · Net margin: +5.7%Q3 2023Q2 2026
Gross marginOperating marginNet margin
Revenue growth+48.1%Q2 2026
+12.0%+24.0%+36.1%+48.1%Q3 2024: +30.8%Q4 2024: +36.9%Q1 2025: +29.6%Q2 2025: +38.2%Q3 2025: +38.3%Q4 2025: +38.4%Q1 2026: +46.6%Q2 2026: +48.1%Q3 2023Q2 2026
Shares outstanding654.5MQ2 2026
163.6M327.2M490.8M654.5MQ3 2023: 564.8MQ4 2023: 569.5MQ1 2024: 570.9MQ2 2024: 574.3MQ3 2024: 574.3MQ4 2024: 610.1MQ1 2025: 634.6MQ2 2025: 592MQ3 2025: 635.6MQ4 2025: 639.5MQ1 2026: 636.2MQ2 2026: 654.5MQ3 2023Q2 2026
Valuation33.3Q2 2026
-209.1-98.112.9123.9Q3 2023 · P/E: -41.6Q4 2023 · P/E: -53.3Q1 2024 · P/E: -320.2Q2 2024 · P/E: 123.9Q3 2024 · P/E: 90.7Q4 2024 · P/E: 64.7Q1 2025 · P/E: 48.0Q2 2025 · P/E: 57.9Q3 2025 · P/E: 70.9Q4 2025 · P/E: 48.3Q1 2026 · P/E: 29.6Q2 2026 · P/E: 33.3Q3 2023 · P/S: 7.5Q4 2023 · P/S: 6.4Q1 2024 · P/S: 8.1Q2 2024 · P/S: 10.5Q3 2024 · P/S: 12.5Q4 2024 · P/S: 12.4Q1 2025 · P/S: 15.9Q2 2025 · P/S: 18.0Q3 2025 · P/S: 17.8Q4 2025 · P/S: 11.2Q1 2026 · P/S: 7.1Q2 2026 · P/S: 7.5Q3 2023Q2 2026
P/EP/S
Revenue$22.9B2025
$5.7B$11.5B$17.2B$22.9B2018: $827M2019: $2.2B2020: $4.4B2021: $10B2022: $12.4B2023: $13.1B2024: $16.8B2025: $22.9B20182025
Net income$1.6B2025
-$1.1B-$234.3M$671.9M$1.6B2018: -$961.2M2019: -$1.5B2020: -$1.6B2021: -$2B2022: -$1.7B2023: $150.7M2024: $444.3M2025: $1.6B20182025
EBITDA$2.7B2025
-$303.7M$686.8M$1.7B$2.7B2018: -$904.9M2019: -$769.6M2020: -$1.1B2021: -$1.3B2022: -$704.2M2023: $783.5M2024: $1.2B2025: $2.7B20182025
Free cash flow$4.5B2025
-$395.5M$1.2B$2.9B$4.5B2018: -$673.7M2019: -$177.2M2020: $219.6M2021: -$598.5M2022: -$2B2023: $1.8B2024: $3B2025: $4.5B20182025
EPS$2.522025
-$2.25-$0.66$0.93$2.522018: -$2.842019: -$3.352020: -$3.392021: -$3.842022: -$2.962023: $0.252024: $0.732025: $2.5220182025
Cash / Debt$6.4B2025
$2.3B$4.6B$6.9B$9.2B2018 · Cash: $1B2018 · Debt: $1.1B2019 · Cash: $3.1B2019 · Debt: $1.6B2020 · Cash: $6.2B2020 · Debt: $2.1B2021 · Cash: $9.2B2021 · Debt: $4.3B2022 · Cash: $6B2022 · Debt: $4.5B2023 · Cash: $2.8B2023 · Debt: $4.5B2024 · Cash: $2.4B2024 · Debt: $4.1B2025 · Cash: $6.4B2025 · Debt: $3.3B20182025
CashDebt
Profitability+44.7%2025
-78.5%-37.5%+3.6%+44.7%2018 · Gross margin: +1.8%2019 · Gross margin: +27.8%2020 · Gross margin: +30.8%2021 · Gross margin: +39.1%2022 · Gross margin: +41.6%2023 · Gross margin: +44.7%2024 · Gross margin: +42.8%2025 · Gross margin: +44.7%2018 · Operating margin: -119.6%2019 · Operating margin: -41.0%2020 · Operating margin: -29.8%2021 · Operating margin: -15.9%2022 · Operating margin: -11.9%2023 · Operating margin: +1.7%2024 · Operating margin: +3.9%2025 · Operating margin: +8.1%2018 · Net margin: -116.2%2019 · Net margin: -67.2%2020 · Net margin: -37.0%2021 · Net margin: -20.6%2022 · Net margin: -13.3%2023 · Net margin: +1.2%2024 · Net margin: +2.6%2025 · Net margin: +6.9%20182025
Gross marginOperating marginNet margin
Revenue growth+36.4%2025
+40.8%+81.5%+122.3%+163.1%2019: +163.1%2020: +101.1%2021: +127.5%2022: +25.1%2023: +4.9%2024: +28.8%2025: +36.4%20182025
Shares outstanding638.2M2025
159.6M319.1M478.7M638.2M2018: 338.5M2019: 436.6M2020: 477.3M2021: 532.7M2022: 558.1M2023: 594.4M2024: 604.7M2025: 638.2M20182025
Valuation48.12025
-6.545.697.8150.02018 · P/E: -4.02019 · P/E: -12.02020 · P/E: -58.72021 · P/E: -58.32022 · P/E: -17.62023 · P/E: 150.02024 · P/E: 137.82025 · P/E: 48.12018 · P/S: 4.62019 · P/S: 8.12020 · P/S: 21.72021 · P/S: 12.02022 · P/S: 2.32023 · P/S: 1.82024 · P/S: 3.62025 · P/S: 3.320182025
P/EP/S

Next catalyst

Catalysts

Earnings
2026-11-10
Revenue est. $8.1B · Updated 1h ago
Dividend
$0.44
2017-02-13

No unusual perp activity right now.

Research data

Analysts, filings and peer context

Estimates

6
DateEPS estimateRevenue estimateGrowthAnalysts
FY 20263.69$31.6B+38%11
FY 20274.70$38.8B+69%11
FY 20285.84$44.8B+95%15
FY 20297.55$48.4B+111%9
FY 20308.74$53.8B+134%6
Q1 20271.16$9.5B+33%1

Company events

6
2026-11-10EarningsActual - / Estimate 1-
2026-08-11EarningsActual 0.86 / Estimate 0.86Beat
2026-05-12EarningsActual 0.84 / Estimate 0.83Beat
2026-03-03EarningsActual 0.66 / Estimate 0.82Miss
2025-11-11EarningsActual 0.78 / Estimate 1.03Miss
2025-08-12EarningsActual 0.85 / Estimate 0.99Miss

Peer comparison

Similar listed perps
NameMarket capP/SP/EProfit marginVenues
WDAY$49.3B4.938.0+12.3%2FIX$49.2B4.434.3+12.8%2ALAB$49.4B41.1131.2+30.7%18UMC$49.1B6.419.1+33.3%5PYPL$48.9B1.410.7+14.4%14ADSK$48.7B6.229.7+21.1%3F$48.4B0.3-6.5-3.9%1VEEV$50.3B14.550.0+29.3%3

Analyst track record

How the analysts covering SE have done: ratings, price-target accuracy and the measured reaction after their calls.

12 months3 years
Ratings84294
Analysts1931
Buy / hold / sell77 / 7 / 0243 / 50 / 1
Upgrades / downgrades / initiations7 / 1 / 021 / 8 / 3
Price targets hit / missed0 / 82 (0%)73 / 214 (25%)
Avg. return after a rating (TipRanks)-48.5%-22.6%
Best / worst call-19.6% / -64.4%+151.3% / -66.6%

After buy calls on this stock: not enough measured cases yet

Latest ratings

DateAnalystCallTarget
Oct 20, 2026Sachin SalgaonkarBank of America SecuritiesBuyMaintained$130
Oct 20, 2026Venugopal GarreBernsteinBuyMaintained$150article ↗
Oct 20, 2026Venugopal GarreBernsteinBuyMaintained$150
Oct 19, 2026Hussaini SaifeeMaybankBuyMaintained$150article ↗
Oct 19, 2026Sachin MittalDBSHoldMaintained$105article ↗

TipRanks data via FMP · computed Oct 21, 2026 · 84 ratings

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