Sea Limited looks too cheap at under 22 times 2027 earnings estimates, with those earnings expected to grow 35.6% while the business is still far from optimized for earnings. Revenue rose 48% with stable margins, and all three growth engines are moving in the right direction. x.com  x.com 

Sea could unlock value from its existing fintech and cloud assets, making the selloff look ridiculous. Forrest Li's memo says Monee could stand on its own; a separate listing could give it a valuation and growth capital, though no date or terms are set. Sea Cloud would sell infrastructure already used for Shopee and Garena, not build from scratch. Last-quarter revenue was $7.79B, up almost 50% year over year, against an 18-19 forward P/E. x.com  x.com 

Sea Limited's threat from TikTok Shop is understated, because TikTok is a social network that added a shop, creating purchase interest from scratch, while Shopee is a shopping app trying to act social. Video reviews and seconds-long checkout make buying a natural part of scrolling, and Shopee Live cannot easily copy that. Southeast Asian e-commerce may end as a duopoly with two winners, but without a clear monopoly Sea is a less ideal investment than businesses such as Axon. x.com  x.com 

Sea looks super interesting at 18x forward EPS against 30%+ EPS CAGR for 2027-2028. Past periods of heavy investment worked well for Sea, making market punishment for new investment exciting. Cloud-entry capex and limited communication, fierce competition, and uncertainty around the fintech IPO remain concerns. x.com  x.com 

Sea Limited's sum-of-the-parts discount is compressing as Shopee's scale economics improve, supporting an Overweight rating and a $168 December 2026 target. Shopee's negative working capital funds its own growth, scale lowers fulfillment costs, advertising is in early innings, and its competitive position has stabilized. Garena carries single-title risk but generates cash, and Monee is underpriced optionality. The target values Garena at 13x earnings, Shopee at 20x EV/EBITDA and Monee at 15x. … Show more

Coupang, Sea and MercadoLibre remain dead money: their charts are broken, they are still overvalued and they face too much competition. Even after recent gains in Sea, they could stay dead money from here; they might be value, but that won't be known for a couple of years, and value traps are a devastating source of capital impairment. x.com  x.com 

Sea Limited is a $200 company trading at $130 after a quarter whose growth was the better, higher-margin kind. Shopee revenue rose 48.2%, with core marketplace fee and ad revenue up 65.6% while logistics revenue fell 9%, meaning less shipping-subsidy drag. Monee revenue grew 58.9% as its loan book rose 62.5% to $11.1 billion with 90+ day NPLs flat at 1.0%, and Garena remains a cash machine. Margins compressed on reinvestment while buybacks continued. x.com  x.com 

Sea Limited's Shopee is consolidating its Brazilian e-commerce position while delivery costs per order are falling. Shopee has 19.8% of Brazilian GMV, second to MercadoLibre's 40.5%; the cost figures back management's comments, though Shopee's Brazil-specific figures are harder to isolate. x.com  x.com  x.com 

Sea Limited looks strikingly cheap at under 8 times next-twelve-month enterprise value to EBITDA. x.com 

Sea looks inexpensive at 7.7x EBITDA with 48% revenue growth, against eBay at 15x and 14%. Sea Cloud may resemble early self-funded AWS rather than a debt-heavy neocloud: Sea has $7B net cash, a 10% free-cash-flow yield, 25,000 GPUs for its core business and, it says, 500 staff already on the project. DBS models startup losses, but those are its assumptions. The upside depends on cloud spending not becoming a massive undertaking; earnings clarity on that spending matters. x.com  x.com  x.com  x.com  … Show more