Cash flow Sea Limited

Equities

SE

US81141R1005

Software

Real-time Estimate Cboe BZX Other stock markets 17:43:09 16/01/2025 GMT			5-day change	1st Jan Change
112.90 ^USD	+1.87%		+3.92%	+6.06%

03:37pm	Asian Equities Traded in the US as American Depositary Receipts Advance in Thursday Trading	MT
01-15	Asian Equities Traded in the US as American Depositary Receipts Rise in Wednesday Trading	MT

1b7da27ce9d9b456f28aef46652d381._oKk8vv83Dugf28uvQkAxxZDqryJnjeS_OlpU3SMlNo.zdichprEsFzGEl1-8E9Tr24E3dm_zEfqqdgvIke4ovfLz-rEw4SaDNIbNg

Published financial data: SEA LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	2.18B	4.38B	9.96B	12.45B	13.06B
Other Revenues, Total	-	-	-	-	-
Total Revenues	2.18B	4.38B	9.96B	12.45B	13.06B
Cost of Goods Sold, Total	1.57B	3.03B	6.06B	7.26B	7.23B
Gross Profit	605M	1.35B	3.9B	5.19B	5.83B
Selling General & Admin Expenses, Total	1.36B	2.48B	4.94B	4.71B	3.91B
Provision for Bad Debts	-	-	-	514M	634M
R&D Expenses	157M	354M	832M	1.38B	1.16B
Other Operating Expenses	-15.89M	-190M	-288M	-279M	-221M
Other Operating Expenses, Total	1.5B	2.65B	5.48B	6.32B	5.49B
Operating Income	-891M	-1.3B	-1.58B	-1.13B	343M
Interest Expense, Total	-48.21M	-148M	-139M	-45.4M	-41.08M
Interest And Investment Income	45.73M	24.8M	36.08M	116M	331M
Net Interest Expenses	-2.48M	-123M	-103M	70.12M	290M
Income (Loss) On Equity Invest.	-3.24M	721K	5.02M	11.16M	-7.03M
Currency Exchange Gains (Loss)	-2.03M	-38.57M	14.24M	-75.51M	4.49M
EBT, Excl. Unusual Items	-899M	-1.46B	-1.67B	-1.13B	630M
Impairment of Goodwill	-	-	-	-355M	-118M
Gain (Loss) On Sale Of Investments	-	-17.82M	-43.5M	-207M	-126M
Asset Writedown	-	-5.71M	-	-	-
Other Unusual Items	-473M	-87K	-	200M	38.55M
EBT, Incl. Unusual Items	-1.37B	-1.48B	-1.71B	-1.49B	425M
Income Tax Expense	85.86M	142M	333M	168M	263M
Earnings From Continuing Operations	-1.46B	-1.62B	-2.04B	-1.66B	163M
Net Income to Company	-1.46B	-1.62B	-2.04B	-1.66B	163M
Minority Interest	-5.08M	6.1M	-3.73M	6.35M	-11.96M
Net Income - (IS)	-1.46B	-1.62B	-2.05B	-1.65B	151M
Net Income to Common Incl Extra Items	-1.46B	-1.62B	-2.05B	-1.65B	151M
Net Income to Common Excl. Extra Items	-1.46B	-1.62B	-2.05B	-1.65B	151M
Per Share Items
Net EPS - Basic	-3.35	-3.39	-3.84	-2.96	0.27
Basic EPS - Continuing Operations	-3.35	-3.39	-3.84	-2.96	0.27
Basic Weighted Average Shares Outstanding	437M	477M	533M	558M	567M
Net EPS - Diluted	-3.35	-3.39	-3.84	-2.96	0.25
Diluted EPS - Continuing Operations	-3.35	-3.39	-3.84	-2.96	0.25
Diluted Weighted Average Shares Outstanding	437M	477M	533M	558M	594M
Normalized Basic EPS	-1.3	-1.9	-1.96	-1.25	0.67
Normalized Diluted EPS	-1.3	-1.9	-1.96	-1.25	0.64
American Depositary Receipts Ratio (ADR)	1	1	1	1	1
Supplemental Items
EBITDA	-770M	-1.12B	-1.3B	-704M	783M
EBITA	-886M	-1.29B	-1.56B	-1.11B	371M
EBIT	-891M	-1.3B	-1.58B	-1.13B	343M
EBITDAR	-714M	-1.04B	-1.15B	-422M	1.1B
Total Revenues (As Reported)	2.18B	4.38B	9.96B	12.45B	13.06B
Effective Tax Rate - (Ratio)	-6.26	-9.55	-19.46	-11.31	61.75
Total Current Taxes	90.2M	169M	334M	309M	357M
Total Deferred Taxes	-4.33M	-27.45M	-975K	-141M	-94.55M
Normalized Net Income	-567M	-906M	-1.05B	-698M	382M
Interest on Long-Term Debt	48.18M	124M	136M	44.08M	40.34M
Supplemental Operating Expense Items
Selling and Marketing Expenses	970M	1.83B	3.83B	3.27B	2.78B
General and Administrative Expenses	386M	572M	952M	1.16B	816M
Research And Development Expense From Footnotes	157M	356M	832M	1.38B	1.16B
Net Rental Expense, Total	56.07M	79.72M	154M	282M	319M
Imputed Operating Lease Interest Expense	16.27M	51.27M	53.73M	23.36M	23.37M
Imputed Operating Lease Depreciation	39.8M	28.45M	99.87M	259M	295M
Stock-Based Comp., COGS (Total)	2.28M	7.38M	12.1M	9.18M	13.11M
Stock-Based Comp., R&D Exp. (Total)	12.01M	46.72M	150M	283M	283M
Stock-Based Comp., S&M Exp. (Total)	3.92M	15.63M	30.2M	35.05M	36.7M
Stock-Based Comp., G&A Exp. (Total)	98.86M	221M	278M	378M	353M
Total Stock-Based Compensation	117M	290M	470M	706M	685M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	3.12B	6.17B	9.25B	6.03B	2.81B
Short Term Investments	102M	126M	911M	864M	2.55B
Total Cash And Short Term Investments	3.22B	6.29B	10.16B	6.89B	5.36B
Accounts Receivable, Total	187M	363M	388M	269M	263M
Other Receivables	262M	533M	732M	964M	1.65B
Notes Receivable	2.18M	289M	1.5B	2.44B	2.62B
Total Receivables	451M	1.19B	2.62B	3.68B	4.54B
Inventory	26.93M	64.22M	117M	110M	125M
Prepaid Expenses	41.31M	69.66M	121M	121M	112M
Restricted Cash	435M	859M	1.55B	1.55B	1.41B
Other Current Assets, Total	234M	468M	566M	337M	229M
Total Current Assets	4.41B	8.94B	15.14B	12.69B	11.77B
Gross Property Plant And Equipment	716M	990M	2.28B	3.28B	3.47B
Accumulated Depreciation	-214M	-369M	-600M	-936M	-1.25B
Net Property Plant And Equipment	502M	621M	1.68B	2.35B	2.22B
Long-term Investments	114M	190M	1.05B	1.25B	4.26B
Goodwill	30.95M	216M	540M	230M	113M
Other Intangibles, Total	15.02M	39.77M	52.52M	65.02M	50.82M
Loans Receivable Long-Term	-	117M	28.96M	21.66M	20.55M
Deferred Tax Assets Long-Term	70.34M	99.9M	104M	245M	329M
Deferred Charges Long-Term	29.16M	65.45M	14.37M	8.48M	12.09M
Other Long-Term Assets, Total	53.17M	167M	149M	145M	97.85M
Total Assets	5.22B	10.46B	18.76B	17B	18.88B
Liabilities
Accounts Payable, Total	69.37M	122M	214M	259M	406M
Accrued Expenses, Total	367M	852M	1.29B	1.12B	1.63B
Short-term Borrowings	-	-	100M	88.41M	147M
Current Portion of Long-Term Debt	30.74M	-	-	31.24M	152M
Current Portion of Leases	58.27M	74.56M	188M	273M	295M
Current Income Taxes Payable	27.21M	52.31M	181M	177M	224M
Unearned Revenue Current, Total	1.1B	2.15B	2.64B	1.54B	1.21B
Other Current Liabilities	712M	1.39B	2.56B	3.45B	4.1B
Total Current Liabilities	2.36B	4.64B	7.18B	6.94B	8.17B
Long-Term Debt	1.36B	1.84B	3.48B	3.34B	3.07B
Long-Term Leases	149M	178M	498M	769M	800M
Unearned Revenue Non Current	161M	343M	105M	63.57M	72.59M
Deferred Tax Liability Non Current	975K	1.53M	6.99M	9.97M	133K
Other Non Current Liabilities	21.47M	36.18M	69.32M	75.34M	74.54M
Total Liabilities	4.05B	7.04B	11.33B	11.19B	12.19B
Preferred Stock Convertible	-	-	-	-	-
Total Preferred Equity	-	-	-	-	-
Common Stock, Total	230K	255K	278K	281K	285K
Additional Paid In Capital	4.69B	8.53B	14.62B	14.56B	15.28B
Retained Earnings	-3.53B	-5.15B	-7.2B	-8.73B	-8.58B
Comprehensive Income and Other	5.45M	4.68M	-28.52M	-111M	-108M
Total Common Equity	1.16B	3.38B	7.4B	5.72B	6.59B
Minority Interest	10.23M	37.33M	25.71M	95.12M	104M
Total Equity	1.17B	3.42B	7.42B	5.81B	6.7B
Total Liabilities And Equity	5.22B	10.46B	18.76B	17B	18.88B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	466M	512M	560M	567M	574M
ECS Total Common Shares Outstanding	463M	512M	558M	565M	572M
Book Value / Share	2.51	6.61	13.27	10.12	11.52
Tangible Book Value	1.12B	3.13B	6.81B	5.42B	6.43B
Tangible Book Value Per Share	2.41	6.11	12.2	9.6	11.23
Total Debt	1.6B	2.09B	4.26B	4.5B	4.46B
Net Debt	-1.63B	-4.2B	-5.9B	-2.39B	-896M
Debt Equivalent Oper. Leases	449M	638M	1.23B	2.25B	2.55B
Minority Interest, Total (Incl. Fin. Div)	10.23M	37.33M	25.71M	95.12M	104M
Equity Method Investments, Total	35.5M	35.5M	178M	178M	195M
Account Code - Inventory Valuation	5	5	5	5	5
Land - (BS)	20.6M	22.71M	196M	272M	279M
Buildings, Total	814K	2.09M	1.96M	14.7M	40.83M
Machinery, Total	382M	567M	1.16B	1.6B	1.74B
Full Time Employees	29.8K	33.8K	67.3K	63.8K	62.7K
Accumulated Allowance for Doubtful Accounts (Supple)	4.08M	7.98M	5.77M	12.82M	9.35M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	-1.46B	-1.62B	-2.05B	-1.65B	151M
Depreciation & Amortization - CF	117M	169M	261M	405M	412M
Amortization of Goodwill and Intangible Assets - (CF)	4.85M	11.69M	18.35M	23.42M	28.61M
Depreciation & Amortization, Total	122M	181M	279M	428M	441M
Amortization of Deferred Charges, Total - (CF)	33.33M	88.2M	100M	7.54M	6.03M
(Gain) Loss From Sale Of Asset	-	-62.12M	-1.6M	-	-
(Gain) Loss on Sale of Investments - (CF)	-3.47M	82.38M	42.66M	216M	136M
Asset Writedown & Restructuring Costs	-	5.71M	-	388M	120M
Provision for Credit Losses	-	57.51M	117M	-	-
(Income) Loss On Equity Investments - (CF)	3.24M	-721K	-5.02M	-11.16M	7.03M
Stock-Based Compensation (CF)	117M	290M	470M	706M	685M
Provision and Write-off of Bad Debts	-	-	-	514M	634M
Other Operating Activities, Total	479M	5.78M	-23.78M	-283M	-155M
Change In Accounts Receivable	-86.55M	-175M	-37.07M	98.98M	7.52M
Change In Inventories	11.76M	-38.53M	-62.74M	1.44M	-14.84M
Change In Accounts Payable	31.38M	50.86M	99.64M	43.31M	81.38M
Change in Unearned Revenues	671M	1.26B	408M	-1.09B	-325M
Change In Income Taxes	17.21M	25.5M	106M	-4.63M	43.6M
Change in Other Net Operating Assets	137M	408M	763M	-416M	263M
Cash from Operations	69.86M	556M	209M	-1.06B	2.08B
Capital Expenditure	-240M	-336M	-772M	-924M	-242M
Sale of Property, Plant, and Equipment	1.24M	1.73M	620K	120M	61.87M
Cash Acquisitions	-	-92.19M	-22.76M	-60.71M	-
Divestitures	-	15.01M	-11.78M	-230K	-43.78M
Sale (Purchase) of Intangible assets	-7.25M	-20.78M	-35M	-52.1M	-16.66M
Investment in Marketable and Equity Securities, Total	-117M	-199M	-1.71B	-350M	-4.57B
Net (Increase) Decrease in Loans Originated / Sold - Investing	-	-256M	-1.22B	-1.17B	-1B
Other Investing Activities, Total	-	-	1.63M	4.67M	912K
Cash from Investing	-363M	-887M	-3.77B	-2.43B	-5.8B
Short Term Debt Issued, Total	-	-	-	-	-
Long-Term Debt Issued, Total	1.04B	1.14B	2.96B	87.98M	224M
Total Debt Issued	1.04B	1.14B	2.96B	87.98M	224M
Short Term Debt Repaid, Total	-	-	-	-	-
Long-Term Debt Repaid, Total	-2.87M	-31.83M	-1.25M	-117M	-54.41M
Total Debt Repaid	-2.87M	-31.83M	-1.25M	-117M	-54.41M
Issuance of Common Stock	1.54B	2.97B	4.05B	50.21M	10.64M
Issuance of Preferred Stock	-	-	-	-	-
Other Financing Activities, Total	1.36M	-348M	391M	379M	186M
Cash from Financing	2.58B	3.73B	7.4B	400M	366M
Foreign Exchange Rate Adjustments	25.02M	80.73M	-58.22M	-144M	-7.96M
Net Change in Cash	2.31B	3.48B	3.78B	-3.23B	-3.37B
Supplemental Items
Cash Interest Paid	13.5M	42M	44.98M	105M	119M
Cash Income Tax Paid (Refund)	74.35M	145M	207M	314M	319M
Levered Free Cash Flow	43.86M	129M	-1.04B	-1.73B	1.47B
Unlevered Free Cash Flow	40.66M	134M	-1.05B	-1.71B	1.49B
Change In Net Working Capital	-606M	-831M	3.41M	1.16B	-412M
Net Debt Issued / Repaid	1.04B	1.11B	2.96B	-29.26M	169M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	-15.02	-10.34	-6.77	-3.96	1.19
Return on Total Capital	-31.02	-19.59	-11.5	-6.44	1.99
Return On Equity %	-312.41	-70.72	-37.68	-25.05	2.6
Return on Common Equity	-318.25	-71.2	-37.97	-25.18	2.45
Margin Analysis
Gross Profit Margin %	27.81	30.83	39.13	41.65	44.66
SG&A Margin	62.31	56.73	49.57	37.81	29.96
EBITDA Margin %	-35.38	-25.52	-13.1	-5.66	6
EBITA Margin %	-40.75	-29.39	-15.72	-8.91	2.84
EBIT Margin %	-40.97	-29.66	-15.9	-9.1	2.62
Income From Continuing Operations Margin %	-67.01	-37.12	-20.52	-13.32	1.25
Net Income Margin %	-67.24	-36.98	-20.56	-13.26	1.15
Net Avail. For Common Margin %	-67.24	-36.98	-20.56	-13.26	1.15
Normalized Net Income Margin	-26.06	-20.7	-10.5	-5.61	2.92
Levered Free Cash Flow Margin	2.02	2.96	-10.42	-13.93	11.28
Unlevered Free Cash Flow Margin	1.87	3.06	-10.55	-13.76	11.43
Asset Turnover
Asset Turnover	0.59	0.56	0.68	0.7	0.73
Fixed Assets Turnover	6.27	7.8	8.65	6.19	5.72
Receivables Turnover (Average Receivables)	15.28	15.91	26.5	37.89	49.15
Inventory Turnover (Average Inventory)	48.61	66.41	66.69	63.96	61.51
Short Term Liquidity
Current Ratio	1.87	1.93	2.11	1.83	1.44
Quick Ratio	1.55	1.55	1.57	1.17	0.89
Operating Cash Flow to Current Liabilities	0.03	0.12	0.03	-0.15	0.25
Days Sales Outstanding (Average Receivables)	23.89	23	13.77	9.63	7.43
Days Outstanding Inventory (Average Inventory)	7.51	5.51	5.47	5.71	5.93
Average Days Payable Outstanding	12.47	11.41	10.01	11.88	16.74
Cash Conversion Cycle (Average Days)	18.94	17.11	9.24	3.46	-3.38
Long Term Solvency