Sea Ltd ADR Dossier
Outlook & Key Dates
Estimates, guidance, catalysts, and upcoming events
Analyst Estimates Learn more →
5-Yr Fwd EPS Growth
19.5%projected annual EPS growth
Analyst Coverage
28analysts covering
FY Revenue (est.)
$31Bnext fiscal year
FY EPS (est.)
$3.75next fiscal year
Monitoring Framework
Key Performance Indicators
Shopee Gross Merchandise Value (GMV) Growth Quarterly30.0%Target: Around 25% year-on-year growth for FY 2026
SeaMoney Loan Book Principal Outstanding Quarterly9.9BTarget: Continued healthy expansion with stable asset quality
SeaMoney Non-Performing Loans (NPL 90+ days) Quarterly0.0Target: Maintain stable asset quality around 1.1%
Garena Quarterly Active Users (QAU) Quarterly666.5MTarget: Stabilization and user retention in Free Fire
Watch Items
- Shopee Adjusted EBITDA Margin TrajectoryTrigger: EBITDA margin as % of GMV falling below 2025 absolute levelsAction: Re-evaluate the structural profitability of the e-commerce segment and the intensity of regional competition.
- Social Commerce Disruption (e.g., TikTok Shop)Trigger: Significant market share loss in key ASEAN markets like IndonesiaAction: Assess Shopee's pricing power, take-rate sustainability, and the necessity of increased marketing subsidies.
Research as of 2 Sep 2026