Company Valuation: Sea Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 124,075 29,227 22,954 60,937 75,524 69,474 - -
Change - -76.44% -21.46% 165.48% 23.94% -8.01% - -
Enterprise Value (EV) 1 117,492 25,792 20,963 55,324 66,795 60,086 58,220 54,527
Change - -78.05% -18.72% 163.92% 20.74% -10.04% -3.11% -6.34%
P/E -58.3x -17.6x 162x 143x 50.6x 37.9x 27.2x 21.5x
PBR 16.9x 5.14x 3.24x 6.89x 6.22x 4.72x 3.89x 3.19x
PEG - 0.8x -1x 1x 0x 2x 0.7x 0.8x
Capitalization / Revenue 12.5x 2.35x 1.76x 3.62x 3.29x 2.32x 1.91x 1.64x
EV / Revenue 11.8x 2.07x 1.6x 3.29x 2.91x 2.01x 1.6x 1.29x
EV / EBITDA -198x -29.4x 17.8x 28.2x 19.4x 15.8x 11.9x 9.15x
EV / EBIT -74.2x -17.3x 93.3x 83.6x 33.6x 23.3x 16x 11.7x
EV / FCF -196x -12.7x 11.5x 18.7x 14.8x 13.4x 12.7x 9.97x
FCF Yield -0.51% -7.88% 8.69% 5.34% 6.74% 7.48% 7.89% 10%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 -3.84 -2.96 0.25 0.74 2.52 2.99 4.172 5.273
Distribution rate - - - - - - - -
Net sales 1 9,955 12,450 13,064 16,820 22,938 29,947 36,344 42,311
EBITDA 1 -593.6 -878.1 1,179 1,962 3,437 3,803 4,898 5,959
EBIT 1 -1,583 -1,488 224.8 662.2 1,985 2,575 3,648 4,676
Net income 1 -2,047 -1,651 150.7 444.3 1,578 1,873 2,706 3,471
Net Debt 1 -6,583 -3,436 -1,991 -5,614 -8,729 -9,388 -11,255 -14,948
Reference price 2 223.71 52.03 40.50 106.10 127.57 113.43 113.43 113.43
Nbr of stocks (in thousands) 554,625 561,738 566,759 574,340 592,020 612,485 - -
Announcement Date 3/1/22 3/7/23 3/4/24 3/4/25 3/3/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
25.42x9.4x15.32x0.78% 3,713B
115.04x49.11x79.55x-.--% 413B
70.66x14.9x31.42x-.--% 93.42B
375.44x17.79x70.34x-.--% 84B
154.15x9x22.98x-.--% 79.65B
37.94x2.01x15.8x-.--% 69.47B
114.23x5.18x29.15x-.--% 46.09B
-274.21x5.71x18.88x-.--% 37.83B
27.99x5.73x27.41x-.--% 36.62B
Average 71.85x 13.20x 34.54x 0.09% 508.13B
Weighted average by Cap. 41.74x 13.03x 22.87x 0.63%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield