Duyuru • Apr 29
Sea Limited to Report Q1, 2026 Results on May 12, 2026 Sea Limited announced that they will report Q1, 2026 results Pre-Market on May 12, 2026 Reported Earnings • Apr 19
Full year 2025 earnings released: EPS: US$2.65 (vs US$0.77 in FY 2024) Full year 2025 results: EPS: US$2.65 (up from US$0.77 in FY 2024). Revenue: US$22.9b (up 36% from FY 2024). Net income: US$1.58b (up 255% from FY 2024). Profit margin: 6.9% (up from 2.6% in FY 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Multiline Retail industry in Europe. Over the last 3 years on average, earnings per share has increased by 107% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 04
Full year 2025 earnings released: EPS: US$2.65 (vs US$0.77 in FY 2024) Full year 2025 results: EPS: US$2.65 (up from US$0.77 in FY 2024). Revenue: US$22.9b (up 36% from FY 2024). Net income: US$1.58b (up 255% from FY 2024). Profit margin: 6.9% (up from 2.6% in FY 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Multiline Retail industry in Europe. Over the last 3 years on average, earnings per share has increased by 107% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. New Risk • Mar 03
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 6.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Mar 03
Investor sentiment deteriorates as stock falls 25% After last week's 25% share price decline to US$81.00, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 14x in the Multiline Retail industry in Europe. Negligible returns to shareholders over past three years. Duyuru • Feb 17
Sea Limited to Report Q4, 2025 Results on Mar 03, 2026 Sea Limited announced that they will report Q4, 2025 results at 9:30 AM, US Eastern Standard Time on Mar 03, 2026 Valuation Update With 7 Day Price Move • Feb 03
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to US$108, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 14x in the Multiline Retail industry in Europe. Total returns to shareholders of 61% over the past three years. New Risk • Jan 09
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 7.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Duyuru • Nov 17
Sea Limited (NYSE:SE) announces an Equity Buyback for $1,000 million worth of its shares. Sea Limited (NYSE:SE) announces a share repurchase program. Under the program, the company will repurchase up to $1,000 million worth of its American depositary shares, each representing one Class A ordinary share of the company. Reported Earnings • Nov 13
Third quarter 2025 earnings released: EPS: US$0.63 (vs US$0.26 in 3Q 2024) Third quarter 2025 results: EPS: US$0.63 (up from US$0.26 in 3Q 2024). Revenue: US$5.99b (up 38% from 3Q 2024). Net income: US$375.0m (up 145% from 3Q 2024). Profit margin: 6.3% (up from 3.5% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Multiline Retail industry in Europe. Over the last 3 years on average, earnings per share has increased by 121% per year but the company’s share price has only increased by 33% per year, which means it is significantly lagging earnings growth. Duyuru • Oct 28
Sea Limited to Report Q3, 2025 Results on Nov 11, 2025 Sea Limited announced that they will report Q3, 2025 results Pre-Market on Nov 11, 2025 Duyuru • Sep 03
Sea Limited, Annual General Meeting, Sep 24, 2025 Sea Limited, Annual General Meeting, Sep 24, 2025, at 15:00 Singapore Standard Time. Location: 1 fusionopolis place, 17-10, galaxis, 138522, Singapore Reported Earnings • Aug 13
Second quarter 2025 earnings released: EPS: US$0.69 (vs US$0.14 in 2Q 2024) Second quarter 2025 results: EPS: US$0.69 (up from US$0.14 in 2Q 2024). Revenue: US$5.26b (up 38% from 2Q 2024). Net income: US$406.0m (up 408% from 2Q 2024). Profit margin: 7.7% (up from 2.1% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 2.0% growth forecast for the Entertainment industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 122% per year but the company’s share price has only increased by 35% per year, which means it is significantly lagging earnings growth. New Risk • Aug 12
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 7.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Duyuru • Jul 29
Sea Limited to Report Q2, 2025 Results on Aug 12, 2025 Sea Limited announced that they will report Q2, 2025 results Pre-Market on Aug 12, 2025 Buy Or Sell Opportunity • Jul 17
Now 20% undervalued Over the last 90 days, the stock has risen 33% to US$163. The fair value is estimated to be US$204, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 15% per annum. Earnings are also forecast to grow by 30% per annum over the same time period. Buy Or Sell Opportunity • Jul 01
Now 21% undervalued Over the last 90 days, the stock has risen 13% to US$152. The fair value is estimated to be US$192, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 15% per annum. Earnings are also forecast to grow by 30% per annum over the same time period. Duyuru • Apr 29
Sea Limited to Report Q1, 2025 Results on May 13, 2025 Sea Limited announced that they will report Q1, 2025 results Pre-Market on May 13, 2025 Reported Earnings • Apr 19
Full year 2024 earnings released: EPS: US$0.77 (vs US$0.27 in FY 2023) Full year 2024 results: EPS: US$0.77 (up from US$0.27 in FY 2023). Revenue: US$16.8b (up 29% from FY 2023). Net income: US$444.3m (up 195% from FY 2023). Profit margin: 2.6% (up from 1.2% in FY 2023). Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Entertainment industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 101% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. New Risk • Apr 10
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 7.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (7.6% average weekly change). Large one-off items impacting financial results. Reported Earnings • Mar 04
Full year 2024 earnings released: EPS: US$0.77 (vs US$0.27 in FY 2023) Full year 2024 results: EPS: US$0.77 (up from US$0.27 in FY 2023). Revenue: US$16.8b (up 29% from FY 2023). Net income: US$444.3m (up 195% from FY 2023). Profit margin: 2.6% (up from 1.2% in FY 2023). Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Entertainment industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 101% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Duyuru • Feb 18
Sea Limited to Report Q4, 2024 Results on Mar 04, 2025 Sea Limited announced that they will report Q4, 2024 results Pre-Market on Mar 04, 2025 Reported Earnings • Nov 13
Third quarter 2024 earnings released: EPS: US$0.26 (vs US$0.26 loss in 3Q 2023) Third quarter 2024 results: EPS: US$0.26 (up from US$0.26 loss in 3Q 2023). Revenue: US$4.33b (up 31% from 3Q 2023). Net income: US$153.3m (up US$297.3m from 3Q 2023). Profit margin: 3.5% (up from net loss in 3Q 2023). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Entertainment industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has fallen by 30% per year, which means it is significantly lagging earnings. Duyuru • Oct 29
Sea Limited to Report Q3, 2024 Results on Nov 12, 2024 Sea Limited announced that they will report Q3, 2024 results Pre-Market on Nov 12, 2024 Duyuru • Sep 04
Sea Limited, Annual General Meeting, Sep 24, 2024 Sea Limited, Annual General Meeting, Sep 24, 2024, at 15:00 Singapore Standard Time. Location: 1 fusionopolis place, 17-10, galaxis, 138522, Singapore Duyuru • Aug 14
Sea Limited Announces Board Changes Sea Limited announced With effect from August 12, 2024, Dr. Silvio Savarese and Ms. Jessica Tan have been elected to Sea’s board of directors as independent directors. Mr. Tony Hou, who is also serving as Sea’s Chief Financial Officer, has stepped down from the board at the same time, such that with effect of these changes, seven-member board now comprises a majority of independent directors. Tony will continue to serve as Sea’s Chief Financial Officer. Dr. Savarese currently serves as Executive Vice President and Chief Scientist of Salesforce Research where he leads the AI Research organization and shapes Salesforce’s scientific direction and long-term AI strategy. He has been in this position since April 2021. Dr. Savarese is also an adjunct professor of Computer Science at Stanford University. Ms. Tan previously served as the Group co-CEO and Executive Director of Ping An Group. Ms. Tan is a member of the board of directors of Ping An Bank Co Ltd., listed on the Shenzhen Stock Exchange, and is on the boards of the Central Provident Fund Board, the National Healthcare Group, and the Agency Integrated Care, three non-profit organizations in Singapore. Ms. Tan is also a member of the advisory panel of the Monetary Authority of Singapore and the World Bank Private Sector Investment Lab. Reported Earnings • Aug 14
Second quarter 2024 earnings released: EPS: US$0.14 (vs US$0.57 in 2Q 2023) Second quarter 2024 results: EPS: US$0.14 (down from US$0.57 in 2Q 2023). Revenue: US$3.81b (up 23% from 2Q 2023). Net income: US$79.9m (down 76% from 2Q 2023). Profit margin: 2.1% (down from 11% in 2Q 2023). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 8.8% growth forecast for the Entertainment industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has fallen by 39% per year, which means it is significantly lagging earnings. Duyuru • Jul 30
Sea Limited to Report Q2, 2024 Results on Aug 13, 2024 Sea Limited announced that they will report Q2, 2024 results Pre-Market on Aug 13, 2024 Duyuru • May 01
Sea Limited to Report Q1, 2024 Results on May 14, 2024 Sea Limited announced that they will report Q1, 2024 results Pre-Market on May 14, 2024 Reported Earnings • Apr 28
Full year 2023 earnings released: EPS: US$0.27 (vs US$2.96 loss in FY 2022) Full year 2023 results: EPS: US$0.27 (up from US$2.96 loss in FY 2022). Revenue: US$13.1b (up 4.9% from FY 2022). Net income: US$150.7m (up US$1.80b from FY 2022). Profit margin: 1.2% (up from net loss in FY 2022). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Entertainment industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has fallen by 37% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 05
Full year 2023 earnings released: EPS: US$0.27 (vs US$2.96 loss in FY 2022) Full year 2023 results: EPS: US$0.27 (up from US$2.96 loss in FY 2022). Revenue: US$13.1b (up 4.9% from FY 2022). Net income: US$150.7m (up US$1.80b from FY 2022). Profit margin: 1.2% (up from net loss in FY 2022). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Entertainment industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has fallen by 37% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Mar 02
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to US$51.16, the stock trades at a forward P/E ratio of 141x. Average forward P/E is 8x in the Entertainment industry in the United Kingdom. Total loss to shareholders of 77% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$89.64 per share. Duyuru • Feb 20
Sea Limited to Report Q4, 2023 Results on Mar 04, 2024 Sea Limited announced that they will report Q4, 2023 results Pre-Market on Mar 04, 2024 Reported Earnings • Nov 15
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: US$3.31b (up 4.9% from 3Q 2022). Net loss: US$144.0m (loss narrowed 75% from 3Q 2022). Revenue is forecast to grow 9.6% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Entertainment industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 38% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Nov 15
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to US$35.89, the stock trades at a forward P/E ratio of 36x. Average forward P/E is 13x in the Entertainment industry in Europe. Total loss to shareholders of 79% over the past three years. New Risk • Nov 14
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of British stocks, typically moving 12% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (12% average weekly change). Minor Risk Large one-off items impacting financial results. Duyuru • Nov 01
Sea Limited to Report Q3, 2023 Results on Nov 14, 2023 Sea Limited announced that they will report Q3, 2023 results Pre-Market on Nov 14, 2023 Duyuru • Sep 15
Law Offices of Howard G. Smith Files the Securities Fraud Class Action Lawsuit Against Sea Limited Law Offices of Howard G. Smith announced that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against Sea Limited. Class Period: April 19, 2021 to May 15, 2023. Lead Plaintiff Deadline: September 19, 2023. The complaint filed alleges that, throughout the Class Period, Defendants failed to disclose to investors that: Sea overstated its ability to manage the growth of its user base and loan book while enhancing its profitability; Sea's expansion to a broader user base and growing loan book rendered the Company significantly more vulnerable to higher credit losses; as a result, the Company was likely to book a significant increase in loan loss reserves; the foregoing was likely to have a significant negative impact on Sea's earnings; and as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times. Duyuru • Sep 01
Sea Limited, Annual General Meeting, Sep 22, 2023 Sea Limited, Annual General Meeting, Sep 22, 2023, at 10:30 Singapore Standard Time. Location: Kent Ridge Guild House, 9 Kent Ridge Drive, Singapore 119241 Pasir Panjang Singapore Duyuru • Aug 17
Levi & Korsinsky Notifies Sea Limited Investors of Class Action Lawsuit and Upcoming Deadline Levi & Korsinsky, LLP notifies investors in Sea Limited of a class action securities lawsuit. CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Sea investors who were adversely affected by alleged securities fraud between April 23, 2022 and May 15, 2023. Follow the link below to get more information and be contacted by a member of our team: CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (i) Sea overstated its ability to manage the growth of its user base and loan book while enhancing its profitability; (ii) Sea’s expansion to a broader user base and growing loan book rendered the Company significantly more vulnerable to higher credit losses; (iii) as a result, the Company was likely to book a significant increase in loan loss reserves; (iv) the foregoing was likely to have a significant negative impact on Sea’s earnings; and (v) as a result, the Company’s public statements were materially false and misleading at all relevant times. Reported Earnings • Aug 16
Second quarter 2023 earnings released: EPS: US$0.57 (vs US$1.67 loss in 2Q 2022) Second quarter 2023 results: EPS: US$0.57 (up from US$1.67 loss in 2Q 2022). Revenue: US$3.10b (up 5.2% from 2Q 2022). Net income: US$331.0m (up US$1.26b from 2Q 2022). Profit margin: 11% (up from net loss in 2Q 2022). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Entertainment industry in the United Kingdom. Duyuru • Aug 03
Sea Limited to Report Q2, 2023 Results on Aug 15, 2023 Sea Limited announced that they will report Q2, 2023 results Pre-Market on Aug 15, 2023 Duyuru • Jul 26
Rosen Law Firm Announces the Filing of A Class Action Lawsuit on Behalf of Purchasers of Securities of Sea Limited Between April 23, 2022 and May 15, 2023, Both Dates Inclusive Rosen Law Firm announced the filing of a class action lawsuit on behalf of purchasers of securities of Sea Limited between April 23, 2022 and May 15, 2023, both dates inclusive. A class action lawsuit has already been filed. According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Sea overstated its ability to manage the growth of its user base and loan book while enhancing its profitability; (2) Sea’s expansion to a broader user base and growing loan book rendered the Company significantly more vulnerable to higher credit losses; (3) as a result, the Company was likely to book a significant increase in loan loss reserves; (4) the foregoing was likely to have a significant negative impact on Sea’s earnings; and (5) as a result, the Company’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages. Reported Earnings • May 16
First quarter 2023 earnings released: EPS: US$0.16 (vs US$1.04 loss in 1Q 2022) First quarter 2023 results: EPS: US$0.16 (up from US$1.04 loss in 1Q 2022). Revenue: US$3.04b (up 4.9% from 1Q 2022). Net income: US$88.1m (up US$667.9m from 1Q 2022). Profit margin: 2.9% (up from net loss in 1Q 2022). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Entertainment industry in the United Kingdom. Breakeven Date Change • Mar 22
No longer forecast to breakeven The 19 analysts covering Sea no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of US$550.1m in 2023. New consensus forecast suggests the company will make a loss of US$1.76b in 2025. Buying Opportunity • Mar 09
Now 21% undervalued Over the last 90 days, the stock is up 25%. The fair value is estimated to be US$96.95, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 55% over the last 3 years. Earnings per share has declined by 15%. Breakeven Date Change • Mar 08 The 25 analysts covering Sea previously expected the company to break even in 2025. New consensus forecast suggests the company will make a profit of US$1.79b in 2025. Average annual earnings growth of 63% is required to achieve expected profit on schedule.
Reported Earnings • Mar 08
Full year 2022 earnings released: US$2.96 loss per share (vs US$3.84 loss in FY 2021) Full year 2022 results: US$2.96 loss per share (improved from US$3.84 loss in FY 2021). Revenue: US$12.4b (up 25% from FY 2021). Net loss: US$1.65b (loss narrowed 19% from FY 2021). Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Entertainment industry in the United Kingdom. Breakeven Date Change • Dec 31
Forecast to breakeven in 2025 The 28 analysts covering Sea expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of US$1.06b in 2025. Average annual earnings growth of 66% is required to achieve expected profit on schedule. Reported Earnings • Nov 16
Third quarter 2022 earnings released: US$1.02 loss per share (vs US$1.06 loss in 3Q 2021) Third quarter 2022 results: US$1.02 loss per share (improved from US$1.06 loss in 3Q 2021). Revenue: US$3.16b (up 17% from 3Q 2021). Net loss: US$569.3m (flat on 3Q 2021). Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Entertainment industry in the United Kingdom. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 2 highly experienced directors. 2 independent directors (3 non-independent directors). Independent Director David Heng was the last independent director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Buying Opportunity • Oct 28
Now 24% undervalued after recent price drop Over the last 90 days, the stock is down 37%. The fair value is estimated to be US$62.62, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 67% over the last 3 years. Earnings per share has declined by 11%. For the next 3 years, revenue is forecast to grow by 16% per annum. Earnings is also forecast to grow by 61% per annum over the same time period. Buying Opportunity • Oct 08
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 23%. The fair value is estimated to be US$76.40, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 67% over the last 3 years. Earnings per share has declined by 11%. For the next 3 years, revenue is forecast to grow by 17% per annum. Earnings is also forecast to grow by 61% per annum over the same time period. Buying Opportunity • Sep 20
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 20%. The fair value is estimated to be US$72.83, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 67% over the last 3 years. Earnings per share has declined by 11%. For the next 3 years, revenue is forecast to grow by 17% per annum. Earnings is also forecast to grow by 61% per annum over the same time period. Reported Earnings • Aug 18
Second quarter 2022 earnings released: US$1.67 loss per share (vs US$0.83 loss in 2Q 2021) Second quarter 2022 results: US$1.67 loss per share (down from US$0.83 loss in 2Q 2021). Revenue: US$2.94b (up 29% from 2Q 2021). Net loss: US$931.2m (loss widened 115% from 2Q 2021). Over the next year, revenue is forecast to grow 21%, compared to a 29% growth forecast for the Entertainment industry in the United Kingdom. Buying Opportunity • Jul 22
Now 24% undervalued after recent price drop Over the last 90 days, the stock is down 12%. The fair value is estimated to be US$102, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 71% over the last 3 years. Earnings per share has declined by 2.6%. For the next 3 years, revenue is forecast to grow by 20% per annum. Earnings is also forecast to grow by 58% per annum over the same time period. Buying Opportunity • Jun 27
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 40%. The fair value is estimated to be US$97.42, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 71% over the last 3 years. Earnings per share has declined by 2.6%. For the next 3 years, revenue is forecast to grow by 20% per annum. Earnings is also forecast to grow by 58% per annum over the same time period. Buying Opportunity • May 07
Now 25% undervalued after recent price drop Over the last 90 days, the stock is down 51%. The fair value is estimated to be US$99.86, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 73% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to grow by 21% per annum. Earnings is also forecast to grow by 35% per annum over the same time period. Reported Earnings • Apr 27
Full year 2021 earnings released: US$3.84 loss per share (vs US$3.39 loss in FY 2020) Full year 2021 results: US$3.84 loss per share (down from US$3.39 loss in FY 2020). Revenue: US$9.96b (up 127% from FY 2020). Net loss: US$2.05b (loss widened 27% from FY 2020). Over the next year, revenue is forecast to grow 35%, compared to a 33% growth forecast for the industry in the United Kingdom. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 3 highly experienced directors. 2 independent directors (4 non-independent directors). Independent Director David Heng was the last independent director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Apr 24
Full year 2021 earnings released: US$3.84 loss per share (vs US$3.39 loss in FY 2020) Full year 2021 results: US$3.84 loss per share (down from US$3.39 loss in FY 2020). Revenue: US$9.96b (up 127% from FY 2020). Net loss: US$2.05b (loss widened 27% from FY 2020). Over the next year, revenue is forecast to grow 35%, compared to a 33% growth forecast for the industry in the United Kingdom. Breakeven Date Change • Mar 03
No longer forecast to breakeven The 23 analysts covering Sea no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of US$2.96b in 2024. New consensus forecast suggests the company will make a loss of US$909.5m in 2024. Duyuru • Jan 06
Tencent Reportedly Seeks to Sell Stake in Sea Ltd Tencent Holdings Limited (SEHK:700) has sold $3 billion of shares in Sea Limited (NYSE:SE) as it seeks funds for new initiatives and philanthropic efforts to aid wealth redistribution. The Chinese internet giant priced 14.5 million shares in Sea at $208 each, the bottom end of an indicative range, according to terms of the deal obtained by Bloomberg News. The offer price represents a discount of 6.9% to Sea’s close on January 3, 2022. Tencent is reducing its holding in Sea to 18.7%, it said in a statement. The divestment will provide the Shenzhen-based company with “resources to fund other investments and social initiatives, while retaining a substantial majority of its stake in Sea and continuing to benefit from the company’s future growth,” it said. Tencent has agreed not to sell further Sea shares for the next six months, the terms show. Goldman Sachs Group Inc., Bank of America Corp. and Morgan Stanley are arranging the sale. Breakeven Date Change • Jan 01
Forecast to breakeven in 2024 The 23 analysts covering Sea expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of US$2.96b in 2024. Average annual earnings growth of 40% is required to achieve expected profit on schedule. Reported Earnings • Nov 17
Third quarter 2021 earnings released: US$1.07 loss per share (vs US$0.89 loss in 3Q 2020) The company reported a solid third quarter result with improved revenues and control over costs, although losses increased. Third quarter 2021 results: Revenue: US$2.69b (up 122% from 3Q 2020). Net loss: US$571.0m (loss widened 36% from 3Q 2020). Breakeven Date Change • Aug 18
No longer forecast to breakeven The 19 analysts covering Sea no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of US$178.5m in 2023. New consensus forecast suggests the company will make a loss of US$144.9m in 2023. Reported Earnings • Aug 18
Second quarter 2021 earnings released: US$0.83 loss per share (vs US$0.84 loss in 2Q 2020) The company reported a solid second quarter result with improved revenues and control over costs, although losses increased. Second quarter 2021 results: Revenue: US$2.28b (up 159% from 2Q 2020). Net loss: US$433.7m (loss widened 10% from 2Q 2020). Reported Earnings • May 19
First quarter 2021 earnings released: US$0.83 loss per share (vs US$0.61 loss in 1Q 2020) The company reported a solid first quarter result with improved revenues and control over costs, although losses increased. First quarter 2021 results: Revenue: US$1.76b (up 147% from 1Q 2020). Net loss: US$422.7m (loss widened 50% from 1Q 2020). Reported Earnings • Apr 17
Full year 2020 earnings released: US$3.39 loss per share (vs US$3.35 loss in FY 2019) The company reported a solid full year result with improved revenues and control over costs, although losses increased. Full year 2020 results: Revenue: US$4.38b (up 101% from FY 2019). Net loss: US$1.62b (loss widened 11% from FY 2019). Reported Earnings • Mar 03
Full year 2020 earnings released: US$3.31 loss per share (vs US$3.35 loss in FY 2019) The company reported a solid full year result with improved revenues and control over costs, although losses increased. Full year 2020 results: Revenue: US$4.38b (up 101% from FY 2019). Net loss: US$1.62b (loss widened 11% from FY 2019). Analyst Estimate Surprise Post Earnings • Mar 03
Revenue beats expectations Revenue exceeded analyst estimates by 1.2%. Over the next year, revenue is forecast to grow 75%, compared to a 11% growth forecast for the Entertainment industry in the United Kingdom. Is New 90 Day High Low • Feb 20
New 90-day high: US$279 The company is up 54% from its price of US$181 on 20 November 2020. The British market is up 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Entertainment industry, which is up 25% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is US$132 per share. Is New 90 Day High Low • Feb 03
New 90-day high: US$237 The company is up 35% from its price of US$176 on 04 November 2020. The British market is up 12% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Entertainment industry, which is up 42% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is US$126 per share. Is New 90 Day High Low • Jan 09
New 90-day high: US$207 The company is up 22% from its price of US$169 on 09 October 2020. The British market is up 15% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Entertainment industry, which is up 37% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is US$123 per share. Reported Earnings • Dec 11
Third quarter 2020 earnings released: US$0.90 loss per share The company reported a mediocre third quarter result with increased losses and weaker control over expenses, although revenues were improved. Third quarter 2020 results: Revenue: US$1.21b (up 99% from 3Q 2019). Net loss: US$425.3m (loss widened 105% from 3Q 2019). Is New 90 Day High Low • Dec 10
New 90-day high: US$205 The company is up 46% from its price of US$140 on 11 September 2020. The British market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Entertainment industry, which is up 21% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is US$134 per share. Reported Earnings • Nov 19
Third quarter 2020 earnings released: US$0.90 loss per share The company reported a mediocre third quarter result with increased losses and weaker control over expenses, although revenues were improved. Third quarter 2020 results: Revenue: US$1.21b (up 99% from 3Q 2019). Net loss: US$425.3m (loss widened 105% from 3Q 2019). 
