Sea Limited's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Sea Limited (SE) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Sea Limited vs Its Competitors
- TTM: Trailing 12-month revenue of 22,938M vs 625,302M combined for its competitors (3.5% combined share).
- Trending: Latest-quarter revenue run-rate is accelerating (+300.0% annualized vs trailing 12 months), vs decelerating (-5.6%) for its tracked peer group.
- Growth: Sea Limited generated 36.4% revenue growth year over year in Q4 2025, vs 16.9% for its competitors combined.
- Profitability: Its 7.0% net margin compares with 10.9% for the peer group.
- Scale: Sea Limited ranks #15 of 167 companies by market capitalization in the Professional Services industry, holding 1.4% of industry market cap.
- Peer revenue share: Sea Limited accounted for 13.5% of combined revenue among its tracked peer group, up from 11.8% a year earlier.
- Peer differentiation: Revenue per employee of $0.22M compares with $0.77M for the peer group (0.3x).
- Structure: Sea Limited operates in the following segments: E Commerce Shopee, Digital Financial Services Monee, Digital Entertainment Garena, All Other Segments.
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
SE Sales vs. its Competitors, Q4 2025
Sea Limited reported revenue growth of 36.38 % year on year in Q4 2025, above its competitors' combined revenue growth of 16.87 %.
With a net margin of 7.02 %, Sea Limited reported lower profitability than its competitors (10.88 %).
Sea Limited generated 13.46 % of the combined sales of its peer group, up from 11.76 % a year earlier.
API endpoints for this dataset
Sea Limited vs. its Competitors, Q4 2025
Revenue growth, year on year
Net income growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in Sea Limited reports; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Sea Limited and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Sea Limited | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| Similar-Size Competitors (10) | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (5) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Sea Limited's competitor groups requires a Commercial License.
For context: the Professional Services industry grew revenue 7.1% year over year, combined, vs 36.4% for Sea Limited. Sea Limited's share of combined industry revenue moved from 3.15% to 4.01%, a gain of 0.86 percentage points.
Sea Limited's Competitor Quality Breadth
Group definitions: see Methodology: Performance Group Definitions.
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Sea Limited | Yes | Yes | Yes | No |
| Competitors combined (38) | ||||
| Similar-Size Competitors (10) | ||||
| Similar Growth & Profitability (8) | 100.00 % (8 of 8) | 100.00 % (8 of 8) | 100.00 % (8 of 8) | 0.00 % (0 of 8) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
SE Stock Performance relative to its Competitors
SE Stock Performance relative to Similar-Size Competitors
SE Stock Performance relative to Similar Growth & Profitability Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Conocophillips | 282.9% | Outperformed |
| 2 | Tidewater Inc | 282.9% | Outperformed |
| 3 | Hilton Worldwide Holdings Inc | 282.9% | Outperformed |
| 4 | Union Pacific Corp | 282.9% | Outperformed |
| 5 | Devon Energy Corp | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Sea Limited's best-performing competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Sea Limited's Comment on Competition and Industry Peers
Publicly Traded Peers of Sea Limited
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
 Sea Limited |
48,332.94 | 22,938.47 |
 Union Pacific Corp |
172,500.12 | 26,516.00 |
 Conocophillips |
162,960.39 | 67,749.00 |
 Constellation Energy Corporation |
88,482.30 | 29,867.00 |
 Hilton Worldwide Holdings Inc |
83,721.70 | 12,690.00 |
 Williams companies inc |
78,498.00 | 12,204.00 |
| SUBTOTAL | 1,612,792.60 | 661,229.48 |
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Sources: see Methodology: Peer & Competitor Identification, Sourcing.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Sea Limited versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Sea Limited's Competitors Named by the Company
Competitive relationships identified from Sea Limited reports and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Tidewater Inc | Company report | 85% |
| Hilton Worldwide Holdings Inc | Company report | 85% |
| Penn Entertainment Inc | Company report | 85% |
| Jumia Technologies Ag | Company report | 85% |
| Mercadolibre Inc | Company report | 85% |
| Coupang Inc | Company report | 85% |
| Nu Holdings Ltd | Company report | 85% |
Company report basis, confidence, active dates and source counts for Sea Limited's named competitors require a Commercial License.
Methodology: see Methodology: Peer & Competitor Identification, Sourcing.
Sea Limited's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Sea Limited | E Commerce Shopee 72.21 % |
| Union Pacific Corp | Reportable 99.00 % |
| Hilton Worldwide Holdings Inc | Management and Franchise 30.44 % |
| Williams companies inc | Transmission, Power & Gulf 47.62 % |
| Mercadolibre Inc | Brazil 53.97 % |
| Kinder Morgan Inc | Natural Gas Pipelines 63.98 % |
Source: operating segment revenue as reported in each company's reports (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
Sea Limited's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Sea Limited | 48,333 | 223,354 | 15,685 |
| Union Pacific Corp | 172,500 | 905,385 | 260,115 |
| Conocophillips | 162,960 | 6,843,333 | 1,166,061 |
| Constellation Energy Corporation | 88,482 | 1,947,128 | 247,539 |
| Hilton Worldwide Holdings Inc | 83,722 | 69,725 | 9,335 |
| Williams companies inc | 78,498 | 2,038,417 | 541,841 |
| PEERS TOTAL | 1,564,460 | 771,468 | 94,105 |
Sea Limited's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent report. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Sea Limited | Southeast Asia excluding Singapore 62.69 % |
Source: revenue geography as reported in each company's reports (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
Sea Limited's Position in Industry Market Structure
Market-capitalization share and concentration across all 153 companies in Sea Limited's industry classification, broader than the peer set above. Market cap in millions of $.Sea Limited ranks #15 of 153 companies by market capitalization in its industry, holding 1.41 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 1,103, indicating a unconcentrated market structure (see Methodology: Market Structure & Concentration).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | Visa Inc | 809,797 | 23.70 % |
| 2 | Mastercard Incorporated | 576,334 | 16.87 % |
| 3 | Repay Holdings Corporation | 366,456 | 10.73 % |
| 4 | Alibaba Group Holding Limited | 254,010 | 7.43 % |
| 5 | Accenture Plc | 1,234 | 5.2% |
| 6 | Uber Technologies Inc | 1,234 | 5.2% |
| 7 | Pdd Holdings inc | 1,234 | 5.2% |
| 8 | Orix Corporation | 1,234 | 5.2% |
| 9 | Doordash Inc | 1,234 | 5.2% |
| 10 | Mercadolibre Inc | 1,234 | 5.2% |
| 15 | Sea Limited | 48,333 | 1.41 % |
Market cap and industry share for the rest of Sea Limited's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-11-06.
Sea Limited's Same-Size Peers & Stock Performance
Peers chosen by closeness in market-cap rank within the same industry classification (not the named-competitor list above). Trailing 12-month total return, 3-month price momentum, beta and Sharpe ratio vs the broad U.S. market.| Rank | Company | Market Cap | TTM Return |
|---|---|---|---|
| 10 | Mercadolibre Inc | 76,553 | -32.87 % |
| 11 | Relx Plc | 76,435 | -9.74 % |
| 12 | Ebay Inc | 55,492 | 51.33 % |
| 13 | Paypal Holdings Inc | 52,250 | -13.53 % |
| 14 | Uxin Limited | 1,234 | 12.3% |
| 15 | Sea Limited | 48,333 | -53.26 % |
| 16 | Msci Inc | 1,234 | 12.3% |
| 17 | Paychex Inc | 1,234 | 12.3% |
| 18 | Fiserv Inc | 1,234 | 12.3% |
| 19 | Corpay Inc | 1,234 | 12.3% |
| 20 | Global Payments Inc | 1,234 | 12.3% |
Market cap, return, momentum, beta and Sharpe ratio for the rest of Sea Limited's same-size peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation); returns and risk metrics as of 2026-11-06. Beta and Sharpe ratio are versus the broad U.S. equity market, not this industry.
Sea Limited's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Professional Services industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (291 companies). See the full Professional Services industry profitability benchmarks.| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 44.66 % | 33.54 % (avg) | +11.1 pp |
| Operating Margin | 8.65 % | industry median | +4.8 pp |
| EBITDA Margin | 7.11 % | 6.04 % (avg) | +1.1 pp |
| Capital Intensity (Capex / Revenue) | 0.05 % | 4.35 % (avg) | -4.3 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Sea Limited's Valuation vs Competitive Position
Valuation multiples vs the Professional Services industry average (291 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns. See the full Professional Services industry valuation benchmarks.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | 58.8x | 25.2x | +33.6x |
| EV / EBITDA | 56.7x | 14.0x | +42.7x |
| P/B | 7.5x | 3.5x | +4.1x |
| Return on Equity | 12.86 % | industry aggregate | -6.17 % |
| Return on Invested Capital | 7.05 % | 1.05 % (avg) | 6.00 % |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Sea Limited's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in company reports.| Metric | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue Growth | 4.93 % | 28.75 % | 36.38 % |
| Operating Margin | 1.72 % | 3.94 % | 8.65 % |
| Return on Invested Capital | 1.09 % | 2.97 % | 7.05 % |
| P/E | 163.2x | 142.0x | 58.8x |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Sea Limited's Strategic Group Map
Sea Limited is shown in red; its closest peers by combined growth, margin and ROIC are labeled. See Methodology: Strategic Group Map for how this chart is built.
Sea Limited's trailing-12-month revenue growth of 36.4% and operating margin of 8.7% compares with an average of 35.9% growth and 10.2% margin across its 8 closest peers by combined growth, margin and ROIC -- Sea Limited sits above that peer average on growth and below it on margin.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
Sea Limited's BCG Growth-Share Matrix
See Methodology: BCG Growth-Share Matrix for how relative share and growth are calculated and thresholded.
Sea Limited falls in the Dog quadrant: relative market share of 0.06x vs its largest competitor, in an industry growing revenue 5.6% (median, trailing 12 months).
Source: CSIMarket API (market-cap share and industry revenue growth). The 10% growth and 1.0x share lines are standard textbook thresholds, not derived from this industry's own distribution.
Sea Limited's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | High | Industry HHI of 1,103 (see Industry Market Structure & Concentration above) |
| Barriers to Entry | Lower than typical for the industry | Capital intensity (capex / revenue) of 0.05 % vs industry average 4.35 % (see Profitability & Cost Structure above) |
Note: see Methodology: Porter's Five Forces. Supplier power and buyer power are covered on Sea Limited's dedicated Suppliers and Customers pages, not here.
Sea Limited's Industry Attractiveness & Competitive Strength
See Methodology: GE/McKinsey Matrix for how the two axes are built.
Sea Limited falls in the Low attractiveness / Medium strength cell: Harvest.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Sea Limited's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Latest-quarter revenue run-rate is accelerating (+300.0% annualized vs trailing 12 months).
Weaknesses
- Return on equity 6.2 points below the industry aggregate.
- Underperforming the U.S.A. 500 over the trailing 12 months.
- Low relative market share vs the industry leader (0.06x).
Opportunities
No rule matched.
Threats
- Tracked peer group's revenue run-rate is broadly decelerating (-5.6% annualized).
Methodology: see Methodology: SWOT Analysis.
Sea Limited's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Sea Limited | 0.28 | 1.58 | 0.17 |
| Union Pacific Corp | 0.28 | 1.00 | 1.53 |
| Conocophillips | 0.53 | 1.42 | 0.54 |
| Constellation Energy Corporation | 0.32 | 1.46 | 0.63 |
| Hilton Worldwide Holdings Inc | 0.18 | 0.63 | - |
| Williams companies inc | - | 0.54 | 1.94 |
Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Sea Limited's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Sea Limited | Q4 2025 | +36.4 % | +259.7 % |
| Union Pacific Corp | Q3 2026 | +16.4 % | +16.1 % |
| Conocophillips | Q2 2026 | +29.3 % | +131.8 % |
| Constellation Energy Corporation | Q1 2026 | +63.8 % | +1,142.6 % |
| Hilton Worldwide Holdings Inc | Q3 2026 | +6.6 % | +27.3 % |
| Williams companies inc | Q2 2026 | +9.8 % | +50.3 % |
| PEERS TOTAL | +23.9 % | +45.7 % |
Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Sea Limited's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Sea Limited | Q4 2025 | +35.6 % | +210.8 % |
| Union Pacific Corp | Q3 2026 | +68.8 % | +7.8 % |
| Conocophillips | Q2 2026 | +26.7 % | - |
| Constellation Energy Corporation | Q1 2026 | +15.2 % | +58.2 % |
| Hilton Worldwide Holdings Inc | Q3 2026 | - | +10.0 % |
| Williams companies inc | Q2 2026 | - | +88.7 % |
Sea Limited's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Sea Limited | 5.48% | 10.31% | 12.86% |
| Union Pacific Corp | 10.76% | 11.49% | 37.82% |
| Conocophillips | 9.33% | 10.36% | 17.73% |
| Constellation Energy Corporation | 5.77% | 5.64% | 19.68% |
| Hilton Worldwide Holdings Inc | 10.16% | 13.50% | - |
| Williams companies inc | 5.53% | 6.55% | 21.49% |
ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Sea Limited's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Sea Limited | 30.05 | 2.11 |
| Union Pacific Corp | 22.63 | 6.51 |
| Conocophillips | 14.34 | 2.41 |
| Constellation Energy Corporation | 21.70 | 2.96 |
| Hilton Worldwide Holdings Inc | 50.20 | 6.60 |
| Williams companies inc | 25.53 | 6.43 |
| PEERS AVERAGE | 20.29 | 2.44 |
P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.