Sea Limited Website

Sea Limited

NYSE-SE

Company Overview

Sea Limited, together with its subsidiaries, engages in the digital entertainment, e-commerce, and digital financial service businesses in Southeast Asia, Latin America, rest of Asia, and internationally. It offers Garena digital entertainment platform for users to access mobile and PC online games, as well as eSports operations; and access to other entertainment content, including livestreaming of gameplay and social features, such as user chat and online forums. The company also operates Shopee e-commerce platform, a mobile-centric marketplace that provides integrated payment and logistics infrastructure and seller services. In addition, it offers SeaMoney digital financial services to individuals and businesses, including offline and online mobile wallet, and payment processing services, as well as other offerings across credit, insurtech, and digital bank services under the ShopeePay, SPayLater, SeaBank, and other digital financial services brands; and payment processing services for Shopee. 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.

  • Name

    Sea Limited

  • CEO

    Xiaodong Li

  • Website

    www.sea.com

  • Sector

    Broadline Retail

  • Year Founded

    2009

Company Statistics

Profile

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Bulls Say

  • Garena could develop other hit games that diversify its revenue stream in addition to Free Fire.

  • Sea could expand its profitability faster than expected due to reduced competition in the Southeast Asia e-commerce industry.

  • SeaMoney’s business and profitability could grow meaningfully if there is limited competition and vast untapped opportunities in Southeast Asia.

Bears Say

  • Due to low switching costs, Sea may fail to achieve profitability because of increased sales and marketing spending needed to attract customers.

  • Free Fire could experience a rapid secular decline in bookings and users, while Garena could not release another hit game to replace Free Fire’s contribution.

  • SeaMoney could face challenges in managing bad debts as it is overstretched in its loan offerings.

Source: Morningstar Analysis - Nov 25, 2025

What's happening

Nov 6, 2025 - Dec 6, 2025

Sea Ltd Faces Significant Challenges Amidst Market Pressures

  • Sea Ltd's Q3 earnings report revealed a revenue increase but disappointing EPS results, contributing to stock decline.
  • Competitive pressures in key markets like Brazil have raised investor concerns about the company's position against rivals.
  • A $1 billion share repurchase program failed to alleviate bearish sentiment surrounding the stock.

Over the past month, Sea Ltd (SE) experienced a notable decline of 15.1%, significantly underperforming compared to the S&P 500's modest gain of 1.2%. This stark contrast underscores SE's struggles amid various market pressures and shifts in investor sentiment. The company faced considerable bearish sentiment following its Q3 earnings report on November 11, which showed a revenue increase to $6 billion but fell short on earnings per share (EPS), reporting only $0.59 against an expected $1.02. This disappointing EPS result overshadowed positive revenue growth and heavily influenced the stock’s negative trajectory.

In addition to disappointing earnings results, Sea Ltd encountered ongoing competitive challenges in key markets such as Brazil, where Shopee outperformed Amazon yet still faced pressure from larger competitors like Mercado Libre. Social media discussions reflected mixed sentiments among investors regarding SE’s competitive landscape despite some positive commentary about its market strength.

The company announced a $1 billion share repurchase program aimed at bolstering shareholder value and demonstrating management confidence in long-term prospects; however, this initiative did little to counteract prevailing bearish trends throughout the month. Analysts maintained a consensus rating of "Moderate Buy," though notable downgrades alongside price target adjustments indicated caution among investors.

Trading activity for SE shares exhibited volatility with several days marked by substantial declines—most notably on November 20 when shares dropped sharply by over 4% amid broader concerns about performance metrics and operational strategies within their business segments. Despite some bullish movements earlier attributed to strong revenue reports across digital entertainment and e-commerce sectors, these gains proved insufficient against persistent downward pressures.

Ultimately, Sea Ltd underperformed relative not only to overall market indices but also lagged behind sector peers within Communication Services (XLC), showing an underperformance margin of -18.3%. The combination of mixed financial results and heightened competition has left investors wary as they navigate future expectations for growth amidst challenging conditions. Additionally, it is important to note that Sea Ltd's performance represents an underperformance margin of -16.3% relative to the S&P 500 during this period.

NYSE:SE