What is Sea's earnings per share (EPS)?

Sea (SE) reported diluted earnings per share of $0.25 for fiscal year 2025. This represents a -66.2% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Sea Financials

Source SEC Filings (10-K/10-Q) Updated Apr 17, 2026 Currency USD FYE April

This page shows Sea (SE) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 11 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 38/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Sea's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Sea has an operating margin of 1.9%, meaning the company retains $2 of operating profit per $100 of revenue. This below-average margin results in a low score of 28/100, suggesting thin profitability after operating expenses. This is down from 3.9% the prior year.

Growth

Sea's revenue declined 29% year-over-year, from $16.8B to $11.9B. This contraction results in a growth score of 26/100.

Leverage

Sea carries a low D/E ratio of 1.69, meaning only $1.69 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 68/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Sea's current ratio of 1.49 is below the typical benchmark, resulting in a score of 25/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Cash Flow

Sea has a free cash flow margin of 15.4%, earning a moderate score of 64/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns

Sea generates a 1.8% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 18/100. This is down from 5.3% the prior year.

Altman Z-Score Grey Zone

2.62

Sea scores 2.62, placing it in the grey zone between 1.81 and 2.99. The score is driven primarily by a large market capitalization ($53.5B) relative to total liabilities ($14.1B). This signals moderate financial risk that warrants monitoring.

Piotroski F-Score Neutral

4/9

Sea passes 4 of 9 financial strength tests. 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.

Earnings Quality Cash-Backed

13.80x

For every $1 of reported earnings, Sea generates $13.80 in operating cash flow ($2.1B OCF vs $150.7M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Safe

5.5x

Sea earns $5.5 in operating income for every $1 of interest expense ($224.8M vs $41.1M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.

Key Financial Metrics

Export CSV

Earnings & Revenue

Revenue

$11.9B

YoY-29.0%

5Y CAGR+22.2%

10Y CAGR+44.9%

Sea generated $11.9B in revenue in fiscal year 2025. This represents a decrease of 29.0% from the prior year.

EBITDA

$665.6M

YoY-36.7%

Sea's EBITDA was $665.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 36.7% from the prior year.

Net Income

$150.7M

YoY-66.1%

Sea reported $150.7M in net income in fiscal year 2025. This represents a decrease of 66.1% from the prior year.

EPS (Diluted)

$0.25

YoY-66.2%

Sea earned $0.25 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 66.2% from the prior year.

Cash & Balance Sheet

Free Cash Flow

$1.8B

YoY-37.9%

5Y CAGR+52.9%

Sea generated $1.8B in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 37.9% from the prior year.

Cash & Debt

$2.4B

YoY+0.0%

5Y CAGR-17.2%

10Y CAGR+35.4%

Sea held $2.4B in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

566M

Sea had 566M shares outstanding in fiscal year 2025.

Margins & Returns

Gross Margin

48.9%

YoY+6.0pp

5Y CAGR+18.0pp

10Y CAGR+11.9pp

Sea's gross margin was 48.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 6.0 percentage points from the prior year.

Operating Margin

1.9%

YoY-2.1pp

5Y CAGR+31.7pp

10Y CAGR+30.3pp

Sea's operating margin was 1.9% in fiscal year 2025, reflecting core business profitability. This is down 2.1 percentage points from the prior year.

Net Margin

1.3%

YoY-1.4pp

5Y CAGR+38.2pp

10Y CAGR+36.6pp

Sea's net profit margin was 1.3% in fiscal year 2025, showing the share of revenue converted to profit. This is down 1.4 percentage points from the prior year.

Return on Equity

1.8%

YoY-3.5pp

5Y CAGR+49.6pp

10Y CAGR+142.1pp

Sea's ROE was 1.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 3.5 percentage points from the prior year.

Capital Allocation

R&D Spending

$1.2B

YoY-3.5%

5Y CAGR+26.9%

10Y CAGR+52.0%

Sea invested $1.2B in research and development in fiscal year 2025. This represents a decrease of 3.5% from the prior year.

Share Buybacks

$14.0M

Sea spent $14.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Capital Expenditures

$241.6M

YoY-24.1%

5Y CAGR-6.4%

10Y CAGR+25.1%

Sea invested $241.6M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 24.1% from the prior year.

SE Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$11.9B-29.0%	$16.8B+28.8%	$13.1B+4.9%	$12.4B+25.1%	$10.0B+127.5%	$4.4B
Cost of Revenue	$6.2B-35.5%	$9.6B+33.0%	$7.2B-0.5%	$7.3B+19.9%	$6.1B+100.2%	$3.0B
Gross Profit	$5.8B-19.0%	$7.2B+23.5%	$5.8B+12.5%	$5.2B+33.1%	$3.9B+188.8%	$1.3B
R&D Expenses	$1.2B-3.5%	$1.2B+3.6%	$1.2B-15.4%	$1.4B+65.5%	$831.7M+135.1%	$353.8M
SG&A Expenses	$1.1B-10.5%	$1.3B+11.7%	$1.1B-21.1%	$1.4B+45.5%	$987.9M+64.7%	$599.7M
Operating Income	$224.8M-66.1%	$662.2M+194.6%	$224.8M+115.1%	-$1.5B+6.0%	-$1.6B-21.5%	-$1.3B
Interest Expense	$41.1M+7.1%	$38.3M-6.7%	$41.1M-9.5%	$45.4M-66.8%	$136.9M+10.5%	$123.8M
Income Tax	$262.7M-18.2%	$321.2M+22.3%	$262.7M+56.0%	$168.4M-49.4%	$332.9M+135.0%	$141.6M
Net Income	$150.7M-66.1%	$444.3M+194.8%	$150.7M+109.1%	-$1.7B+19.3%	-$2.0B-26.5%	-$1.6B
EPS (Diluted)	$0.25-66.2%	$0.74+196.0%	$0.25+108.4%	$-2.96+22.9%	$-3.84-13.3%	$-3.39

Metric	Q3'25	Q3'24	Q3'23	Q3'22	Q1'22	Q3'21	Q2'21	Q3'20
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-$281.9M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

SE Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$22.6B0.0%	$22.6B+19.8%	$18.9B+11.1%	$17.0B-9.3%	$18.8B+79.4%	$10.5B
Current Assets	$16.9B0.0%	$16.9B+43.2%	$11.8B-7.2%	$12.7B-16.2%	$15.1B+69.3%	$8.9B
Cash & Equivalents	$2.4B0.0%	$2.4B-14.4%	$2.8B-53.4%	$6.0B-34.8%	$9.2B+50.0%	$6.2B
Inventory	$143.2M0.0%	$143.2M+14.2%	$125.4M+14.3%	$109.7M-6.7%	$117.5M+83.0%	$64.2M
Accounts Receivable	$306.7M0.0%	$306.7M+16.7%	$262.7M-2.3%	$268.8M-30.8%	$388.3M+7.0%	$363.0M
Goodwill	$107.6M0.0%	$107.6M-4.6%	$112.8M-51.0%	$230.2M-57.3%	$539.6M+149.5%	$216.3M
Total Liabilities	$14.1B0.0%	$14.1B+16.1%	$12.2B+8.9%	$11.2B-1.2%	$11.3B+61.1%	$7.0B
Current Liabilities	$11.3B0.0%	$11.3B+38.3%	$8.2B+17.8%	$6.9B-3.4%	$7.2B+54.8%	$4.6B
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$8.4B0.0%	$8.4B+27.0%	$6.6B+15.4%	$5.7B-22.7%	$7.4B+118.7%	$3.4B
Retained Earnings	-$8.2B0.0%	-$8.2B+5.2%	-$8.6B+1.7%	-$8.7B-21.4%	-$7.2B-39.8%	-$5.2B

Metric	Q3'25	Q3'24	Q3'23	Q3'22	Q1'22	Q3'21	Q2'21	Q3'20
Total Assets	$22.6B+19.8%	$18.9B+11.1%	$17.0B-9.3%	$18.8B+62.8%	$11.5B+10.2%	$10.5B+50.2%	$7.0B+33.2%	$5.2B
Current Assets	$16.9B+43.2%	$11.8B-7.2%	$12.7B-16.2%	$15.1B+61.1%	$9.4B+5.1%	$8.9B+60.7%	$5.6B+26.1%	$4.4B
Cash & Equivalents	$2.4B-14.4%	$2.8B-53.4%	$6.0B-34.8%	$9.2B+99.1%	$4.6B-24.7%	$6.2B+75.7%	$3.5B+12.5%	$3.1B
Inventory	$143.2M+14.2%	$125.4M+14.3%	$109.7M-6.7%	$117.5M+18.1%	$99.5M+54.9%	$64.2M+4.1%	$61.7M+129.0%	$26.9M
Accounts Receivable	$306.7M+16.7%	$262.7M-2.3%	$268.8M-30.8%	$388.3M+1.5%	$382.7M+5.4%	$363.0M+25.5%	$289.2M+54.6%	$187.0M
Goodwill	$107.6M-4.6%	$112.8M-51.0%	$230.2M-57.3%	$539.6M+13.3%	$476.3M+120.2%	$216.3M+3.9%	$208.1M+572.3%	$31.0M
Total Liabilities	$14.1B+16.1%	$12.2B+8.9%	$11.2B-1.2%	$11.3B+43.0%	$7.9B+12.6%	$7.0B+13.7%	$6.2B+52.7%	$4.1B
Current Liabilities	$11.3B+38.3%	$8.2B+17.8%	$6.9B-3.4%	$7.2B+22.0%	$5.9B+26.9%	$4.6B+22.9%	$3.8B+59.7%	$2.4B
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$8.4B+27.0%	$6.6B+15.4%	$5.7B-22.7%	$7.4B+107.8%	$3.6B+5.2%	$3.4B+356.4%	$741.2M-36.2%	$1.2B
Retained Earnings	-$8.2B+5.2%	-$8.6B+1.7%	-$8.7B-21.4%	-$7.2B-19.9%	-$6.0B-16.6%	-$5.2B-11.4%	-$4.6B-31.0%	-$3.5B

SE Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$2.1B-36.5%	$3.3B+57.6%	$2.1B+297.0%	-$1.1B-606.0%	$208.6M-62.5%	$555.9M
Capital Expenditures	$241.6M-24.1%	$318.2M+31.7%	$241.6M-73.9%	$924.2M+19.7%	$772.2M+129.6%	$336.3M
Free Cash Flow	$1.8B-37.9%	$3.0B+61.0%	$1.8B+192.8%	-$2.0B-251.3%	-$563.5M-356.6%	$219.6M
Investing Cash Flow	-$5.8B-15.1%	-$5.0B+13.2%	-$5.8B-139.0%	-$2.4B+35.5%	-$3.8B-324.8%	-$886.9M
Financing Cash Flow	$366.0M-78.3%	$1.7B+360.2%	$366.0M-8.6%	$400.3M-94.6%	$7.4B+98.3%	$3.7B
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$14.0M	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q3'24	Q3'23	Q3'22	Q1'22	Q3'21	Q2'21	Q3'20
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	$185.4M-37.3%	$296.0M+1164.7%	-$27.8M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	$117.1M+1.6%	$115.2M+172.0%	$42.4M
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	$68.3M-62.2%	$180.8M+357.7%	-$70.1M
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	-$366.9M-75.4%	-$209.2M-45.6%	-$143.7M
Financing Cash Flow	N/A	N/A	N/A	N/A	N/A	$2.9B+105199.8%	-$2.8M-100.3%	$1.0B
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

SE Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	48.9%+6.0pp	42.8%-1.8pp	44.7%+3.0pp	41.6%+2.5pp	39.1%+8.3pp	30.8%
Operating Margin	1.9%-2.1pp	3.9%+2.2pp	1.7%+13.7pp	-11.9%+4.0pp	-15.9%+13.9pp	-29.8%
Net Margin	1.3%-1.4pp	2.6%+1.5pp	1.1%+14.4pp	-13.3%+7.3pp	-20.6%+16.4pp	-37.0%
Return on Equity	1.8%-3.5pp	5.3%+3.0pp	2.3%+31.2pp	-28.9%-1.2pp	-27.7%+20.2pp	-47.8%
Return on Assets	0.7%-1.3pp	2.0%+1.2pp	0.8%+10.5pp	-9.7%+1.2pp	-10.9%+4.6pp	-15.5%
Current Ratio	1.490.0	1.49+0.1	1.44-0.4	1.83-0.3	2.11+0.2	1.93
Debt-to-Equity	1.690.0	1.69-0.2	1.85-0.1	1.96+0.4	1.53-0.5	2.08
FCF Margin	15.4%-2.2pp	17.6%+3.5pp	14.1%+30.0pp	-15.9%-10.2pp	-5.7%-10.7pp	5.0%

Metric	Q3'25	Q3'24	Q3'23	Q3'22	Q1'22	Q3'21	Q2'21	Q3'20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-24.3%
Return on Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-5.4%
Current Ratio	1.49+0.1	1.44-0.4	1.83-0.3	2.11+0.5	1.60-0.3	1.93+0.5	1.47-0.4	1.87
Debt-to-Equity	1.69-0.2	1.85-0.1	1.96+0.4	1.53-0.7	2.23+0.1	2.08-6.3	8.35+4.9	3.49
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Similar Companies

$92.4B

$77.9B

$147.2B

$39.3B

$42.8B

Frequently Asked Questions

What is Sea's annual revenue?

Sea (SE) reported $11.9B in total revenue for fiscal year 2025. This represents a -29.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Sea's revenue growing?

Sea (SE) revenue declined by 29% year-over-year, from $16.8B to $11.9B in fiscal year 2025.

Is Sea profitable?

Yes, Sea (SE) reported a net income of $150.7M in fiscal year 2025, with a net profit margin of 1.3%.

What is Sea's EBITDA?

Sea (SE) had EBITDA of $665.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Sea's gross margin?

Sea (SE) had a gross margin of 48.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Sea's operating margin?

Sea (SE) had an operating margin of 1.9% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Sea's net profit margin?

Sea (SE) had a net profit margin of 1.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Sea's return on equity (ROE)?

Sea (SE) has a return on equity of 1.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Sea's free cash flow?

Sea (SE) generated $1.8B in free cash flow during fiscal year 2025. This represents a -37.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Sea's operating cash flow?

Sea (SE) generated $2.1B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Sea's total assets?

Sea (SE) had $22.6B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Sea's capital expenditures?

Sea (SE) invested $241.6M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Sea spend on research and development?

Sea (SE) invested $1.2B in research and development during fiscal year 2025.

Does Sea buy back shares?

Yes, Sea (SE) spent $14.0M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Sea have outstanding?

Sea (SE) had 566M shares outstanding as of fiscal year 2025.

What is Sea's current ratio?

Sea (SE) had a current ratio of 1.49 as of fiscal year 2025, which is considered adequate.

What is Sea's debt-to-equity ratio?

Sea (SE) had a debt-to-equity ratio of 1.69 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Sea's return on assets (ROA)?

Sea (SE) had a return on assets of 0.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Sea's Altman Z-Score?

Sea (SE) has an Altman Z-Score of 2.62, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Sea's Piotroski F-Score?

Sea (SE) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Sea's earnings high quality?

Sea (SE) has an earnings quality ratio of 13.80x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Sea cover its interest payments?

Sea (SE) has an interest coverage ratio of 5.5x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Sea?

Sea (SE) scores 38 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.