SE +77% YTD — Back to No.1 in SEA?
Southeast Asia’s e-commerce and gaming giant $Sea Ltd(SE)$ has staged a remarkable comeback — its stock is up +76.8% YTD, pushing its market cap to $111B, nearly on par with $DBS(D05.SI)$. Could it soon reclaim the crown as the region’s most valuable company?
👉 Was SE ever part of your portfolio? And did you catch this rally?
🎉 Shoutout to some standout gains from our community:
🎉 Huge congrats to @TanZhenyu for earning $11,557 profit on SE.
🎉 Huge congrats to @JSWong for securing $7,258 profit on SE.
🎉 Huge congrats to @WalkerWoon for earning $6,586 profit on SE.
🎉 Huge congrats to @michaelchan8 for securing $4,106 profit on SE.
What’s Driving the Surge?
After Q2 earnings, SE shares hit a 3-year high thanks to stronger-than-expected sales:
Net profit jumped 418% YoY to $414M.
Revenue rose 38% YoY to $5.26B.
All three core businesses — e-commerce, digital finance, and gaming — delivered growth.
E-commerce (Shopee):
GMV +28% YoY to $29.8B.
Revenue +34% YoY to $3.8B.
EBITDA swung to $228M profit vs. a $9M loss last year.
CEO Li Xiaodong highlighted Brazil as a key growth driver, where Shopee is now the order-volume leader.
Digital Finance (Monee):
Revenue +70% YoY to $883M.
EBITDA +55% YoY to $255M.
Credit business still early stage but gaining momentum.
Digital Entertainment (Garena):
Revenue +28% YoY to $559M.
EBITDA +22% YoY to $368M.
Free Fire momentum prompted management to raise full-year guidance, forecasting +30% bookings growth in 2025.
Valuation Check (E-commerce Focus)
$Amazon.com(AMZN)$: Cheapest & strongest cash flow (P/S 3.6, P/CF 20).
$Sea Ltd(SE)$ : Higher multiple but best growth profile (PEG 0.7 < 1).
$MercadoLibre(MELI)$: Balanced — solid cash flow, moderate growth.
$Shopify(SHOP)$: Expensive, more SaaS-like valuation (P/S 18+, P/CF 101).
Takeaway:
AMZN = benchmark for value & stability
SE = strongest growth story
MELI = middle ground
SHOP = SaaS-like premium, not a fair e-commerce comp
Risks to Watch
Short interest in SE has climbed, hinting at potential volatility.
Current price trades near the top of its trend range — a pullback toward ~$159 (50-day MA) wouldn’t be unusual, especially with seasonal weakness in Aug/Sep.
💡 If you’re holding SE — would you ride it for 10 years?
If not holding — how much upside do you still see? Or do you expect a correction first?
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The best part of this run-up is that the forward returns still look attractive.