Sea Ltd SE (former Garena)

[winston]

not vested

Is Now The Right Time To Reassess Sea (SE) After Its Recent Share Price Swings?

The DCF indicates a fair value of $156.20 per share, compared with the current share price of about $93.52.

With Sea's actual P/E of 35.73x sitting above the Fair Ratio of 32.47x by a clear margin, the stock screens as somewhat expensive on this metric.

Source: Simply Wall St

https://finance.yahoo.com/markets/stock ... 20871.html

[winston]

not vested

Gaming's Next Big Thing?

1Q26 benefitted from record breaking Free Fire x Jujutsu Kaisen collaboration and Arena of Valor’s record bookings.

Assuming a rather moderate success of Free Fire x Gintama collaboration in 2Q26F, we raise our FY26F/27F gaming adj EBITDA by 15%/23% each leading to group adj EBITDA being lifted by 9%/9%

Maintain BUY on Sea Ltd (SE) with TP raised to USD148; SE trades at 13.3x 12M forward EV/Adj EBITDA while offering adj EBITDA CAGR of 19% over FY25-27F.

Key catalyst for SE might be potential exit of small e-commerce player like Lazada.

Source: DBS

https://www.dbs.com/insightsdirect/comp ... ecid=30977

[winston]

not vested

Hayden Capital’s Analysis on Sea Ltd (SE)

by Soumya Eswaran

The company generated ~$4.5BN in Free Cash Flow last year, up from $1.7BN in 2023 (+160%). That's a 10% FCF yield at today's prices.

Earnings are projected to grow another +150% over the next three years.

It seems the short-term pessimism hinges on two points:
1) rising fear of TikTok Shop competition in Southeast Asia, and
2) Shopee reinvesting more heavily into logistics / entering a re-investment cycle – which investors fear will cap near-term margins at roughly ~0.7% of GMV this year, versus prior Street expectations of ~1.2%

Shopee VIP started a year ago, and has already gained 10 million members. By comparison, it took Amazon 7 years after launching to amass the same amount.

20% of total Shopee GMV is now generated by Shopee VIP members. Given there are only 10 million members out of 418 million annual buyers, that implies 2.4% of buyers are driving 20% of all sales – and these VIP members buy 10x more than non-members!

Source: Yahoo Finance

https://www.insidermonkey.com/blog/hayd ... r-1770918/

https://finance.yahoo.com/markets/stock ... Vw2Gs06WI1