Sea Ltd ADR

SE: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Sea Earnings: Fair Value Estimate Cut 23% Due to Higher Warehouse Investments and Rising Tax Rate

Chelsey Tam

Mar 4, 2026

For 2026, Sea targets around 25% year-on-year gross merchandise volume growth and adjusted EBITDA no lower than that of 2025. Management expects the effective tax rate to rise to the mid- to high 30s as some entities have turned profitable. The shares closed down 17% on March 3.

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Sea Ltd ADR

Sea Earnings: Fair Value Estimate Cut 23% Due to Higher Warehouse Investments and Rising Tax Rate

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