Sea Ltd (SE) fair value: what the stock is really worth
As of Oct 21, 2026: fair value (intrinsic value) of Sea Ltd stock $129, price $77.94, upside +65.9%, quality 65 out of 100. Rating: strongly undervalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 22, 2026.
How to read this chart
60‑month range $34.82 – $366.99 · fair‑value band $78.22 – $168.12 · the $77.94 price screens below the $129.32 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Oct 22, 2026.
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Sea Limited, through its subsidiaries, operates as a technology company in Southeast Asia, Latin America, the rest of Asia, and internationally. The company operates through E-commerce, Digital Financial Services, and Digital Entertainment segments.
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It offers Garena, a digital entertainment platform for users to access mobile and PC online games, as well as promotes eSports operations and develops games.
The company also operates the Shopee e-commerce platform, a mobile-centric marketplace that provides integrated payments, logistics and fulfillment infrastructure, and other value-added services.
In addition, it offers Monee digital financial services comprising consumer, and small and medium-sized enterprises (SME) credit, e- wallets, payment processing, banking, Insurtech, and wealth services; and acts as an underwriter for various life and non-life insurance products under the MoneeInsure tradename, as well as insurance agency services.
It serves buyers, such as individuals and households; and sellers, including small and medium businesses, brands, and large retailers. The company was formerly known as Garena Interactive Holding Limited and changed its name to Sea Limited in April 2017.
Sea Limited was incorporated in 2009 and is headquartered in Singapore.
Stock analysis
Sea Ltd (SE) currently trades at $77.94, while our model-based Fair Value estimate is $129.32, implying the stock looks roughly 39.7% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of $141.92 per share, and 15 of the 24 models we run sit above the $77.94 price.
Bear case: the Economic Profit group reads lowest at $22.92, and 9 of the 24 models stay below the price. Data coverage for this calculation is medium.
Scenario range: $78.22 (bear) to $168.12 (bull), the price of $77.94 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 65/100 (solid quality), in the Consumer Cyclical sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Sea Ltd reported revenue of $22.9B in FY2025 versus $10.0B in FY2021, a compound +23.2%/yr. Reported net income was $1.6B in FY2025.
Key figures
Market cap $51.0B Large · P/E ratio 31.1 · P/S ratio 1.84 · EPS (TTM) $2.59 · Net margin 5.9% · Return on equity 14.7% · Return on assets (EBIT) −1.3% · Operating margin 8.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 57 out of 100 (medium confidence).
What moves the price
The last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat.
The share trades about 53% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 4% fair-value upside, at 66%, SE screens cheaper than that median.
Fair Value models
Bear$78.22Fair Value $129.32Bull$168.12
Price $77.94 · Upside +65.9%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then ($2.09 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.95/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+36.4%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+22.6%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+39.3%
Start year 2020 (pandemic). Over 10 years: +54.7% a year
Revenue growth 11 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+57.0%
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Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−29.8% (2020) → 8.1% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: rate outside our plausibility band
not computed
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−3.6%
The company could shrink this much every year for the next five years and today's price would still be justified.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+22.1%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about −5.8% a year for the price and +19.3% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (97 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Neutral
Recent news coverage is roughly neutral, about typical for how stocks are covered.
AI conclusion: Regional ecosystem scale and cash generation provide moderate moat signals, yet competitive retail pressures and limited differentiation evidence constrain the business quality.
Main risk: Persistent competition in fragmented markets may keep margins compressed as ongoing heavy spending to defend market share weighs on profitability.
Sea keeps scaling Shopee with GMV growth near 28 percent and a clear path to one billion dollars in adjusted EBITDA this year. Our models currently see it as undervalued. Heavy spending to defend market share and improve unit economics still weighs on near-term profits. Will stronger conversion of growth into cash flow ultimately lift margins faster than costs rise, or will competition keep margins compressed?
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Internet Retail · 98 stocks
Beats the industry median on 10/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score65 · Above median
Fair Value upside+65.9% · Above median
Profitability
Return on equity (12 months)14.7% · Above median
Return on assets5.4% · Above median
Net margin (12 months)5.9% · Above median
Operating margin (12 months)8.4% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)48.1% · Top 25%
Balance sheet
Debt / equity0.04× · Below median
Valuation Multiplesvs Internet Retail median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Sea Ltd Fair Value". https://www.fairvalue-calculator.com/stock/SE
Frequently asked questions
Is Sea Ltd (SE) overvalued or undervalued?
As of Oct 22, 2026, our model estimates a fair value of $129.32 versus a price of $77.94, about +66% upside (undervalued).
What is the fair value of SE?
Our model-based fair value for Sea Ltd is $129.32 (as of Oct 22, 2026), built from audited fundamentals. The current price: $77.94.
What is the quality score of SE?
Sea Ltd has a Quality Score of 65/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Sea Ltd (SE)?
Our model-based price target is the fair value of $129.32 (as of Oct 22, 2026) from 24 valuation models. Cautious scenario $78.22, optimistic scenario $168.12. It is a calculation from audited fundamentals, not an analyst target.
What is the Sea Ltd stock forecast for 2026?
Our models put fair value at $129.32, about +66% upside versus a price of $77.94 (undervalued). Cautious scenario $78.22, optimistic scenario $168.12. The calculation is refreshed regularly with new filings.
What is the revenue of Sea Ltd (SE)?
Sea Ltd reported trailing-twelve-month revenue of about $27.7B (latest available figure, as of Oct 22, 2026).
What growth is priced into Sea Ltd (SE)?
For today's price to be fair in a discounted-cash-flow model, Sea Ltd would have to grow free cash flow by -3.6 % per year for five years (discount rate 10.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +39.3 % per year. As of Oct 22, 2026.
What discount rate (WACC) does the fair value of SE use?
Our models discount Sea Ltd at 10.5 %: a base by market capitalisation (large), damped by beta 1.55, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Sea Ltd that is -3.6 % per year a year over ten years, using the same discount rate (10.5 %) and the same formula as our fair value.
How much growth has Sea Ltd (SE) delivered so far?
Over the past 5 years revenue at Sea Ltd grew +39.3 % a year. The price currently implies -3.6 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Sea Ltd (SE) growing?
The median revenue growth in the sector is +3.4 % a year. That is the yardstick for the growth priced into Sea Ltd (-3.6 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Sea Ltd (SE)?
The free-cash-flow yield on the price is 8.85 %: that much free cash flow Sea Ltd produces per unit of market value. When it exceeds the discount rate of our models (10.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Sea Ltd (SE)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Sea Ltd it is $129.32 per share (as of Oct 22, 2026), against a price of $77.94. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Sea Ltd stock overvalued or undervalued in 2026?
As of Oct 22, 2026, SE trades below its calculated fair value: price $77.94, fair value $129.32, a gap of about +66% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of SE?
No. The price is what the market pays today ($77.94); the fair value is what the company's own numbers justify ($129.32). For Sea Ltd the two are $51.38 per share apart. That gap is exactly why we show both numbers side by side.
How much is Sea Ltd worth?
The market values Sea Ltd at about $51.0B (market capitalisation, as of Oct 22, 2026). Per share that is $77.94; our models calculate a fair value of $129.32 per share.
What do the bullish and bearish scenarios say about SE?
Our models span a range for Sea Ltd: cautious scenario $78.22, base $129.32, optimistic $168.12 per share (as of Oct 22, 2026, price $77.94). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of SE?
Sea Ltd trades at a price-to-earnings ratio of 31.1 (as of Oct 22, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $129.32 is built from several models across several years. Other multiples: PEG 1.0, P/B 4.1, P/S 1.8, EV/EBITDA 16.8.
What is the PEG ratio of SE?
The PEG ratio of Sea Ltd is 0.99 (P/E divided by earnings growth, as of Oct 22, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Sea Ltd (SE)?
Balance-sheet figures for Sea Ltd (as of Oct 22, 2026): return on equity 14.7%, debt of 0.04 per unit of equity. They feed the Quality Score of 65/100, which measures business quality independently of the share price.
How far is SE from its 52-week high?
Sea Ltd trades at $77.94, about 53% below its 52-week high of $164.60 and at the low of $77.94 (as of Oct 21, 2026). Distance from the high says nothing about value: that is what the fair value of $129.32 is for.
Which stocks are comparable to Sea Ltd?
From the same area (Consumer Cyclical) we also value Amazon.com, Inc, Alibaba Group, MercadoLibre, Inc, Prosus N.V, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Sea Ltd stock attractive at the current price?
The data as of Oct 22, 2026: price $77.94, calculated fair value $129.32 (+66%), Quality Score 65/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of SE calculated?
We run Sea Ltd through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $129.32, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.6 % above its aggregate fair value. Sea Ltd currently trades 40 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Sea Ltd (SE)?
The closing price on Oct 21, 2026 was $77.94. Our model-based fair value is $129.32, about +66% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Sea Ltd right now?
Solid quality (65/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range ($78.22 to $168.12) leaves room in how you read the outcome.
Key figures of Sea Ltd
How large is the market capitalisation of Sea Ltd (SE)?
The market capitalisation of Sea Ltd is $51.0B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Sea Ltd (SE)?
The price-to-sales ratio of Sea Ltd is 1.84 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Sea Ltd (SE)?
Earnings per share at Sea Ltd are $2.59 (price ÷ EPS = P/E 31.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Sea Ltd (SE)?
The net margin of Sea Ltd is 5.9% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Sea Ltd (SE)?
The return on equity (ROE) of Sea Ltd is 14.7% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Sea Ltd (SE)?
On an EBIT basis the return on assets of Sea Ltd is −1.3% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Sea Ltd (SE)?
The operating margin of Sea Ltd is 8.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Sea Ltd (SE)?
Revenue at Sea Ltd is growing +48.1% versus a year earlier (3y avg +22.6%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Sea Ltd (SE)?
Earnings per share at Sea Ltd are growing +7.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Sea Ltd (SE) hold?
Sea Ltd holds more cash than debt, $3.0B net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Oct 22, 2026