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Relative Value

The Relative Value of one SE stock under the Base Case scenario is 116.33 USD. Compared to the current market price of 91.09 USD, Sea Ltd is Undervalued by 22%.

Relative Value is the estimated value of a stock based on various valuation multiples like P/E and EV/EBIT ratios. It offers a quick snapshot of a stock's valuation in relation to its peers and historical norms.

SE Relative Value
Base Case
116.33 USD
Undervaluation 22%
Relative Value
Price
Worst Case
Base Case
Best Case

Multiples Across Competitors

SE Competitors Multiples
Sea Ltd Competitors

All Multiples
P/S
P/E
EV/EBITDA
EV/EBIT
All Countries
Close
Market Cap P/S P/E EV/EBITDA EV/EBIT
SG
Sea Ltd
NYSE:SE
53.6B USD 2.3 34 22.6 22.6
CN
NetEase Inc
NASDAQ:NTES
75.9B USD 4.7 15.6 9.8 10.4
US
Activision Blizzard Inc
LSE:0H8X
74.1B USD 8.5 34.2 24.6 28.9
JP
Nintendo Co Ltd
TSE:7974
10.6T JPY 5 26.5 23.6 24.8
US
Electronic Arts Inc
NASDAQ:EA
50.1B USD 6.9 73.6 37.1 49
US
Roblox Corp
NYSE:RBLX
43.3B USD 8.7 -39.9 -40.6 -33.2
US
Take-Two Interactive Software Inc
NASDAQ:TTWO
39.4B USD 6 -9.9 40.3 -134.1
CN
Zhejiang Century Huatong Group Co Ltd
SZSE:002602
132.1B CNY 3.8 35.1 21.5 21.5
JP
Konami Holdings Corp
TSE:9766
2.7T JPY 5.9 31.9 16.7 21.3
JP
Nexon Co Ltd
TSE:3659
2.5T JPY 5.2 26.6 11.8 12.9
CN
Bilibili Inc
NASDAQ:BILI
11.1B USD 2.6 64.9 17.3 55.9
P/E Multiple
Earnings Growth PEG
SG
Sea Ltd
NYSE:SE
Average P/E: 38
34
N/A N/A
CN
NetEase Inc
NASDAQ:NTES
15.6
14%
1.1
US
A
Activision Blizzard Inc
LSE:0H8X
34.2
36%
1
JP
Nintendo Co Ltd
TSE:7974
26.5
26%
1
US
Electronic Arts Inc
NASDAQ:EA
73.6
32%
2.3
US
Roblox Corp
NYSE:RBLX
Negative Multiple: -39.9 N/A N/A
US
Take-Two Interactive Software Inc
NASDAQ:TTWO
Negative Multiple: -9.9 N/A N/A
CN
Z
Zhejiang Century Huatong Group Co Ltd
SZSE:002602
35.1
104%
0.3
JP
Konami Holdings Corp
TSE:9766
31.9
22%
1.4
JP
N
Nexon Co Ltd
TSE:3659
26.6
15%
1.8
CN
Bilibili Inc
NASDAQ:BILI
64.9
67%
1
EV/EBITDA Multiple
EBITDA Growth EV/EBITDA to Growth
SG
Sea Ltd
NYSE:SE
Average EV/EBITDA: 22.5
22.6
57%
0.4
CN
NetEase Inc
NASDAQ:NTES
9.8
12%
0.8
US
A
Activision Blizzard Inc
LSE:0H8X
24.6
30%
0.8
JP
Nintendo Co Ltd
TSE:7974
23.6
34%
0.7
US
Electronic Arts Inc
NASDAQ:EA
37.1
20%
1.9
US
Roblox Corp
NYSE:RBLX
Negative Multiple: -40.6 N/A N/A
US
Take-Two Interactive Software Inc
NASDAQ:TTWO
40.3
59%
0.7
CN
Z
Zhejiang Century Huatong Group Co Ltd
SZSE:002602
21.5
61%
0.4
JP
Konami Holdings Corp
TSE:9766
16.7
15%
1.1
JP
N
Nexon Co Ltd
TSE:3659
11.8
13%
0.9
CN
Bilibili Inc
NASDAQ:BILI
17.3
17%
1
EV/EBIT Multiple
EBIT Growth EV/EBIT to Growth
SG
Sea Ltd
NYSE:SE
Average EV/EBIT: 27.5
22.6
42%
0.5
CN
NetEase Inc
NASDAQ:NTES
10.4
12%
0.9
US
A
Activision Blizzard Inc
LSE:0H8X
28.9
36%
0.8
JP
Nintendo Co Ltd
TSE:7974
24.8
N/A N/A
US
Electronic Arts Inc
NASDAQ:EA
49
26%
1.9
US
Roblox Corp
NYSE:RBLX
Negative Multiple: -33.2 N/A N/A
US
Take-Two Interactive Software Inc
NASDAQ:TTWO
Negative Multiple: -134.1 N/A N/A
CN
Z
Zhejiang Century Huatong Group Co Ltd
SZSE:002602
21.5
56%
0.4
JP
Konami Holdings Corp
TSE:9766
21.3
N/A N/A
JP
N
Nexon Co Ltd
TSE:3659
12.9
N/A N/A
CN
Bilibili Inc
NASDAQ:BILI
55.9
56%
1
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Intrinsic Value is all-important and is the only logical way to evaluate the relative attractiveness of investments and businesses.

Warren Buffett