SE // Sea Limited American

DES <GO> NYSE CIK 0001703399 ↗

Consumer Discretionary • Other Consumer Services

$76.55 ▲ +1.37 (+1.82%)

MKT CAP: $46.89B • VOL: 8.03M

52W L $72 52W H $160

ALTMAN Z

2.61 GREY

PIOTROSKI

9 / 9

SE // ROARABLE RATING & 5-PILLAR RQD CONFIDENCE 02:00 EST DETERMINISTIC ENGINE

PRIOR: RQD 66/100 [C+] (+0 PT) • UNCHANGED AS OF 2026-11-01

ROARABLE C+

RQD CONFIDENCE

66 / 100 +0D

5 X 20-PT QUANT PILLARS

E 0 D 35 C 59 B 70 A 86+

Roarable Hold — Upper Neutral / Watch for Breakout

01 MASSIVE / SEC XBRL

Forensic Fundamentals

15 / 20

SOLID

FCF +52.4% vs NI +200% • ROIC-WACC +1.9% • Z 2.61

02 OPRA GEX + SEC 13F

Whale & Options Flow

[LOCKED] FLAGGED

UNLOCK BELOW TO REVEAL

03 SEC FORM 4 (90D)

Insider Conviction

[LOCKED] FLAGGED

UNLOCK BELOW TO REVEAL

04 FRED 90D r-MATRIX

Macro Regime Fit

13 / 20

SOLID

TAILWIND • r(10Y)=+0.00 (+23bp) • r(OAS)=+0.00

05 10-K REDLINE AUDIT

Forensic 10-K Risk

16 / 20

STRONG

20 BASE - 4 DEDUCT • 0 CRIT / 0 MED • STABLE

ALERT

Why did SE's Whale & Options Flow & Insider Conviction sub-score just flash a warning? Enter your email to unlock the full 5-Pillar Rating Breakdown + get instant alerts whenever SE is Upgraded or Downgraded.

SIG <GO> CROSS-FEED TRIANGULATION // PROPRIETARY ANOMALY ENGINE (1 ACTIVE ON SE)

STAGE 2 DETERMINISTIC Z-SCORE + STAGE 3 GEEK DESK BRIEF ALL MARKET ANOMALIES <SIG>

▼ BEARISH // F-RATED EARNINGS MIRAGE // ACCRUAL WATCHSIFTER 02 // ACCRUAL & RECEIVABLES FORENSICS

SEVERITY: 84/100 Z-SCORE: +2.54σ

SE Accounting Gap: Net Income (+220%) Outpaced OCF (+53.3%) With +-1.1% Working-Capital Build

CASH CONVERSION GAP

+166.7% (NI vs OCF)

RECEIVABLES / WC BLOAT

-1.1% VS REV

60D C-SUITE FORM 4 SALES

0 OPEN-MKT DUMPS

[GEEK DESK FORENSIC NOTE // SEC XBRL × FORM 4 CROSS-CHECK]

SEC EDGAR XBRL CompanyFacts10-K/10-Q Working Capital ScheduleSEC Form 4 Executive Sales

SEC EDGAR XBRL triangulation on Sea Limited American (SE) exposes a +166.7% Cash Conversion Gap as YoY Net Income growth (+220.0%) diverged from Operating Cash Flow growth (+53.3%). Non-cash current assets and receivables expanded -1.1% relative to top-line revenue growth. Monitor upcoming 10-Q cash realization closely for accrual mean-reversion.

SE // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: -12.54%🛡️ HOLDING TREND SUPPORT

2026-10-30O $75.62H $75.93L $73.86C $74.24VOL 6.21M

RES: $147.6SUP: $69.93SMA50: $99.06SMA200: $98.59

SE // INSTITUTIONAL BULL VS. BEAR FORENSIC DEBATE

ACCUMULATE CONVICTION: 62/100

BEAR 0

100 BULL

Sea Limited American (SE) exhibits 52.2% gross margins and 10.2% return on invested capital within Consumer Discretionary (Other Consumer Services), balanced against a 20.5x enterprise multiple and 7.0% implied options volatility.

▲ INSTITUTIONAL BULL THESIS (LONG)

01. Operating Leverage & Capital Efficiency Moat

Sustained 52.2% gross profitability converts into 10.1% operating margin and 10.2% ROIC, outpacing sector cost of capital.

ROIC: 10.2% // GM: 52.2%

02. Top-Line Expansion & Cash Conversion

YoY revenue trajectory of +33.2% paired with 9.62% free cash flow yield supports self-funded R&D and capital return.

REV YOY: +33.2% // FCF YLD: 9.62%

03. Balance Sheet Solvency & Forensic Quality

Altman Z-Score of 2.61 and Piotroski F-Score of 9/9 indicate low near-term refinancing stress.

ALTMAN Z: 2.61 // F-SCORE: 9/9

▼ INSTITUTIONAL BEAR THESIS (SHORT / RISK)

01. Multiple Compression & Duration Sensitivity

Trading at 29.7x trailing P/E (24.9x Fwd P/E) leaves valuation vulnerable if real 10Y TIPS yields spike.

P/E: 29.7x // EV/EBITDA: 20.5x

02. Options Skew & Event Volatility Risk

Options market prices a ±7.0% implied move with a 0.84 put/call ratio around $75.00 max pain.

IMPL MOVE: ±7.0% // P/C: 0.84

03. Competitive Margin & CapEx Cycle Pressure

Elevated industry capital intensity and customer concentration in Other Consumer Services require continuous execution to defend 8.0% net margins.

NET MARGIN: 8.0% // D/E: 0.56x

KEY CATALYST // Upcoming 10-Q/10-K XBRL margin progression, guidance revision vs 24.9x forward consensus, and institutional 13F positioning.

MACRO REGIME // Monitor US 10Y Real Yields (DFII10) and High-Yield Credit Spreads (OAS) for beta-adjusted multiple impact (Beta 1.02).

FORM 4 & 13F FLOW OPEN OWN <GO>

FILER	SIDE	$ VALUE
INSPECT FULL OWNERSHIP LEDGER IN OWN <GO>

UNUSUAL OPTIONS TAPE OPEN OPT <GO>

STRIKE / EXP	TYPE	PREMIUM
INSPECT GEX & CHAIN IN OPT <GO>

KEY VALUATION & PROFITABILITY RATIOS XBRL FA <GO>

TRAILING P/E 29.7x

FORWARD P/E 24.9x

EV / EBITDA 20.5x

FCF YIELD 9.62%

GROSS MARGIN 52.2%

OPERATING MARGIN 10.1%

NET MARGIN 8.0%

ROIC % 10.2%

REV GROWTH YOY +33.2%

DILUTED EPS TTM $2.58

DEBT / EQUITY 0.56x

DIVIDEND YIELD 0.00%

RSI-14 MOMENTUM 23.1

5Y EQUITY BETA 1.02

FRED MACRO SENSITIVITY (PEARSON r) ECST <GO>

MACRO CORRELATION CALIBRATION ACTIVE BELOW.

FRED MACRO REGIME STRESS-TEST SIMULATOR // SEPEARSON R VARIANCE ENGINE

01 // SELECT FEDERAL RESERVE & CREDIT SHOCK SCENARIO

02 // POSITION NOTIONAL EXPOSURE

HEADLINE STRESS SCORE

75/100SEVERE DRAWDOWN PRESSURE

PRIMARY FACTOR EXPOSURE

DFII10 // -0.61 r

Latest: 2.08%

EST. DIRECTIONAL MOVE

-8.50%

Implied Px: $70.05

EST. DOLLAR VARIANCE

-$4,248

On $50,000 Notional

[LOCKED // MULTI-FACTOR DRAWDOWN HEDGE & MACRO TRIGGER ALERT]

Unblur the exact $50,000 delta-adjusted ETF/options hedge ratio for SE & activate live FRED threshold breach alerts.

HEAD-TO-HEAD PEER COMPARISONS COMP <GO>

SE VS AMZN

MARGINS ROIC VALUATION

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MARGINS ROIC VALUATION