Sea Limited (S2EA34) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Sea Limited BRL 25.04, price BRL 19.84, upside +26.2%, quality 65 out of 100. 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 Sep 29, 2026.
How to read this chart
60‑month range R$6.87 – R$82.59 · fair‑value band R$13.85 – R$34.88 · the R$19.84 price screens below the R$25.04 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 29, 2026.
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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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. 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 Limited (S2EA34) currently trades at R$19.84, while our model-based Fair Value estimate is R$25.04, implying the stock looks roughly 20.8% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of R$30.47 per share, and 14 of the 24 models we run sit above the R$19.84 price.
Bear case: the Asset-Based group reads lowest at R$3.09, and 10 of the 24 models stay below the price. Evidence for this calculation is high.
Scenario range: R$13.85 (bear) to R$34.88 (bull), the price of R$19.84 sits inside 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 Limited 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 R$353B (≈ $67.5B) · P/E ratio 43.5 · P/S ratio 2.99 · EPS (TTM) R$0.5300 · Net margin 6.9% · Return on equity 14.9% · Return on assets (EBIT) −0.9% · Operating margin 8.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 49 out of 100 (low confidence).
What moves the price
The share trades about 52% below its 52-week high and 22% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 10% fair-value upside, at 26%, S2EA34 screens cheaper than that median.
Fair Value models
Bear R$13.85Fair Value R$25.04Bull R$34.88
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (R$0.4008 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.Evidence ⓘEvidence = 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)
Revenue growth 7 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.
+60.8%
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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) → 8.7% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: rate outside our plausibility band
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 Limited Fair Value". https://www.fairvalue-calculator.com/stock/S2EA34
Frequently asked questions
Is Sea Limited (S2EA34) overvalued or undervalued?
As of Sep 29, 2026, our model estimates a fair value of R$25.04 versus a price of R$19.84, about +26% upside (undervalued).
What is the fair value of S2EA34?
Our model-based fair value for Sea Limited is R$25.04 (as of Sep 29, 2026), built from audited fundamentals. The current price: R$19.84.
What is the quality score of S2EA34?
Sea Limited 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 Limited (S2EA34)?
Our model-based price target is the fair value of R$25.04 (as of Sep 29, 2026) from 24 valuation models. Cautious scenario R$13.85, optimistic scenario R$34.88. It is a calculation from audited fundamentals, not an analyst target.
What is the Sea Limited stock forecast for 2026?
Our models put fair value at R$25.04, about +26% upside versus a price of R$19.84 (undervalued). Cautious scenario R$13.85, optimistic scenario R$34.88. The calculation is refreshed regularly with new filings.
What is the revenue of Sea Limited (S2EA34)?
Sea Limited reported trailing-twelve-month revenue of about $25.2B (latest available figure, as of Sep 29, 2026).
What is the intrinsic value of Sea Limited (S2EA34)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Sea Limited it is R$25.04 per share (as of Sep 29, 2026), against a price of R$19.84. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Sea Limited stock overvalued or undervalued in 2026?
As of Sep 29, 2026, S2EA34 trades below its calculated fair value: price R$19.84, fair value R$25.04, a gap of about +26% (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 S2EA34?
No. The price is what the market pays today (R$19.84); the fair value is what the company's own numbers justify (R$25.04). For Sea Limited the two are R$5.20 per share apart. That gap is exactly why we show both numbers side by side.
How much is Sea Limited worth?
The market values Sea Limited at about R$353B (market capitalisation, as of Sep 29, 2026). Per share that is R$19.84; our models calculate a fair value of R$25.04 per share.
What do the bullish and bearish scenarios say about S2EA34?
Our models span a range for Sea Limited: cautious scenario R$13.85, base R$25.04, optimistic R$34.88 per share (as of Sep 29, 2026, price R$19.84). The range comes from different growth and margin assumptions, not from analyst opinions.
How far is S2EA34 from its 52-week high?
Sea Limited trades at R$19.84, about 52% below its 52-week high of R$41.26 and 22% above the low of R$16.31 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of R$25.04 is for.
Which stocks are comparable to Sea Limited?
From the same area (Consumer Cyclical) we also value Amazon.com, Inc, Alibaba Group, MercadoLibre, Inc, DoorDash, Inc, 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 Limited stock attractive at the current price?
The data as of Sep 29, 2026: price R$19.84, calculated fair value R$25.04 (+26%), 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 S2EA34 calculated?
We run Sea Limited 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 R$25.04, 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 14.5 % above its aggregate fair value. Sea Limited currently trades 21 % 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 Limited (S2EA34)?
The closing price on Oct 2, 2026 was R$19.84. Our model-based fair value is R$25.04, about +26% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Sea Limited 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 (R$13.85 to R$34.88) leaves room in how you read the outcome.
Key figures of Sea Limited
How large is the market capitalisation of Sea Limited (S2EA34)?
The market capitalisation of Sea Limited is R$353B (≈ $67.5B). 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/E ratio of Sea Limited (S2EA34)?
The price-to-earnings ratio of Sea Limited is 43.5 (as of Jul 16, 2026). Price to earnings: how many years of current profit you pay for the stock. A P/E of 10 means ten years of profit.
What is the P/S ratio of Sea Limited (S2EA34)?
The price-to-sales ratio of Sea Limited is 2.99 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Sea Limited (S2EA34)?
Earnings per share at Sea Limited are R$0.5300 (price ÷ EPS = P/E 43.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Sea Limited (S2EA34)?
The net margin of Sea Limited is 6.9% (fiscal year 2025). 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 Limited (S2EA34)?
The return on equity (ROE) of Sea Limited is 14.9% (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 Limited (S2EA34)?
On an EBIT basis the return on assets of Sea Limited is −0.9% (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 Limited (S2EA34)?
The operating margin of Sea Limited 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 Limited (S2EA34)?
Revenue at Sea Limited is growing +46.6% 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 Limited (S2EA34)?
Earnings per share at Sea Limited are growing +3.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Sea Limited (S2EA34) generate?
The free cash flow of Sea Limited is $4.5B (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Sea Limited (S2EA34) carry?
The net debt of Sea Limited is $602M (fiscal year 2024, ≈ 0.1 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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