Added to YB: 2026-03-06
Pitch date: 2026-03-04
SE [bullish]
Sea Limited
Author Info
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Company Info
Sea Limited, through its subsidiaries, operates as a consumer internet company in Southeast Asia, Latin America, the rest of Asia, and internationally.
Market Cap
$52.0B
Pitch Price
N/A
Price Target
170.00
Dividend
N/A
EV/EBITDA
16.67
P/E
34.85
EV/Sales
1.96
Sector
Broadline Retail
Category
growth
Buy Rating: Sea Limited (SE): The technical damage is severe, but the fundamental story remains intact.
SE: Q4 rev $6.9B (+38% YoY) beat est $6.6B; FY25 rev $23B. EPS $0.63 missed $0.74 est, but net income +260% to $1.6B, adj EBITDA +75% to $3.4B. Shopee GMV $127B, EBITDA surged from $156M to $881M. SeaMoney rev +60% to $3.8B, loan book +80% to $9.2B. 2026 guide: +25% GMV growth but flat EBITDA signals margin compression from heavy reinvestment in logistics/fulfillment. Stock crashed -61% peak-to-trough ($196→$77) despite strong fundamentals. Analysts maintain Buy (avg PT $150-226 vs $88 current), citing undervaluation. Risks: investment cycle pressuring margins, competitive intensity in SEA e-comm, credit risk from rapid loan growth (NPL 1.1% stable). Trading $62B mkt cap on $23B rev—priced like broken when investing for scale.
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