11 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →
| FY | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| 2025 | $19.6B | $1.6B | 52.2% | 10.1% | $4.5B | — | $4.2B |
| 2024 | $14.7B | $444M | 48.9% | 4.5% | $3.0B | — | $2.4B |
| 2023 | $11.5B | $151M | 50.9% | 2.0% | $1.8B | — | $2.8B |
| 2022 | $12.4B | -$1.7B | 41.6% | -11.9% | -$2.0B | — | $6.0B |
| 2021 | $10.0B | -$2.0B | 39.1% | -15.9% | -$564M | — | $9.2B |
| 2020 | $4.4B | -$1.6B | 30.8% | -29.8% | $220M | $0 | $6.2B |
| 2019 | $2.2B | -$1.5B | 27.8% | -41.0% | -$170M | $2M | $3.1B |
| 2018 | $827M | -$961M | 1.8% | -119.6% | -$673M | $2M | $1.0B |
| 2017 | $414M | -$560M | 21.1% | -121.3% | -$327M | $2M | $1.3B |
| 2016 | $346M | -$223M | 32.7% | -59.4% | -$119M | — | $170M |
| 2015 | — | -$103M | — | — | — | — | $116M |
| Quarter | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| Dec '20 | $1.6B | -$524M | 34.1% | -22.8% | $68M | $0 | $6.2B |
| Sep '20 | $1.2B | -$420M | 33.6% | -25.2% | $181M | — | $3.5B |
| Dec '19 | $777M | -$284M | 34.1% | -29.6% | -$70M | $2M | $3.1B |
How the market has priced SE against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
Over the past 5 years, Sea Ltd's revenue has grown 35.0% per year. These are computed facts, not advice.
As of FY2025, Sea Ltd reported — of total debt against $4.2B of cash; operating income covered interest expense 59×.
In FY2025, gross margin was 52.2%, operating margin 10.1%, and net margin 8.0%.
As of Jun '26, Sea Ltd traded at a price-to-earnings ratio of about 36.1× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S have moved with the share price. These are computed facts, not advice.
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.