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Sea Ltd ADR SE Stock Quote


Last close prices updated as of May 26, 2023, 7:59 PM EST | USD | BATS BZX Real-Time Price
  • Last Close 60.12
  • Sector Consumer Cyclical
  • Industry Internet Retail
  • Investment Style
  • Day Range 59.52  –  61.74
  • Year Range 40.67  –  93.70
  • Market Cap 34.0735 Bil
  • Volume / Avg 6.6 Mil /  5.5 Mil
  • Price / Sales 2.72
  • Price / Book 5.59
  • Forward Div Yield
  • Trailing Div Yield 2.75%

Morningstar‘s Stock Analysis SE

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Is it the right time to buy or sell?

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Sea Earnings: Achieving Both Profitability and GMV Growth Will Be Challenging; Keep $70 Fair Value

Kai Wang Senior Equity Analyst

Analyst Note

| Kai Wang |

We reiterate our fair value estimate of $70 after Sea reported first-quarter 2023 results that continued to show profitability, but were overshadowed by an implied year-on-year decline in gross merchandise value that puts its long-term growth trajectory into question, in line with our thesis. We believe that profitability was attained at the expense of GMV decline, and this raises doubts about whether Sea can achieve both growth and profitability at the same time. A greater monetization rate contributed to profitability, along with a 60% year-on-year decline in sales and marketing expenses. While we are encouraged by the improvement, cuts to expenses and increases in monetization may not be feasible in the long term if GMV continues to decline. Our valuation assumes Sea can reach steady-state profitability while maintaining modest growth, but we believe there may be challenges in balancing both in the near term. This is compounded by long-term headwinds for Garena—we could see downward risks to Sea estimates if Garena continues to lose quarterly paying users, or if GMV growth remains muted. Given multiple risks to its business, we believe Sea’s upside is limited until it can show durable and profitable growth.

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Key Statistics SE

Company Profile SE

Business Description

Sea operates Southeast Asia's largest e-commerce company, Shopee, in terms of gross merchandise value and number of transactions. Sea started as a gaming business, Garena, but in 2015 expanded into e-commerce, which is now the main growth driver. Shopee is a hybrid C2C and B2C marketplace platform operating in eight core markets. Indonesia accounts for 35% of GMV, with the rest split mainly among Taiwan, Vietnam, Thailand, Malaysia, and the Philippines. For Garena, Free Fire was the most downloaded game in January 2022 and accounted for 74% of gaming revenue in 2021. Sea’s third business, SeaMoney, facilitates e-wallet payments on Shopee and offline and provides other digital financial services such as credit lending.

1 Fusionopolis Place, No. 17-10, Galaxis
Singapore, 138522, SGP
Industry Internet Retail
Employees 63,800

Related Articles SE

Morningstar analysts hand-select direct competitors or comparable companies to provide context on the strength and durability of SE’s competitive advantage.

Sea Ltd ADR

XNYS: SE Inc Ordinary Shares - Class A

XHKG: 09618

Grab Holdings Inc Class A

−$0.36 (0.60%) −$5.20 (3.84%) +$0.04 (1.33%)
Market Cap
34.07 Bil407.60 Bil11.82 Bil
Internet Retail Internet Retail Software - Application
Consumer Cyclical
Consumer Cyclical

* Trading data in this section is delayed by at least 15 minutes.

FAQs for Sea Ltd ADR Stock

No. SE does not currently have a forward dividend yield.
Dividend yield allows investors, particularly those interested in dividend-paying stocks, to compare the relationship between a stock’s price and how it rewards stockholders through dividends. The formula for calculating dividend yield is to divide the annual dividend paid per share by the stock price.

Learn more about dividend yield.

SE’s market cap is 34.07 Bil.
Market capitalization is calculated by taking a company’s share price and multiplying it by the total number of shares. It’s often used to measure a company’s size. In the Morningstar Style Box, large-cap names account for the largest 70% of U.S. stocks, mid-cap names account for the largest 70–90%, and small-cap names are the remaining 10% of companies.

Learn more about market capitalization.

SE’s beta can be found in Trading Information at the top of this page.
A stock’s beta measures how closely tied its price movements have been to the performance of the overall market.

Compare SE’s historical performance against its industry peers and the overall market.