Sea (MEX:SEN) Cyclically Adjusted PB Ratio: (As of Aug. 12, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

MEX:SEN Sea Ltd MEX:SEN
84 GF Score
Price MXN2,230.00
GF Value MXN2,325.13
Valuation Fairly Valued
! 2 Warning Signs
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What is Sea Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Sea  (MEX:SEN) Cyclically Adjusted PB Ratio Explanation

Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.


Sea Cyclically Adjusted PB Ratio Related Terms


Sea Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Sea's Cyclically Adjusted PB Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Sea Cyclically Adjusted PB Ratio Chart

Sea Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 16.69

Sea Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Cyclically Adjusted PB Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.00 0.00 16.69 9.92 0.00

MEX:SEN vs EBAY, DASH, JD: Cyclically Adjusted PB Ratio Comparison

For the Internet Retail subindustry, Sea's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Sea Cyclically Adjusted PB Ratio vs Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, Sea's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Sea's Cyclically Adjusted PB Ratio falls into.


MEX:SEN
84GF Score
Sea Ltd MEX:SEN
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Sea Cyclically Adjusted PB Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.

Sea's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, Sea's adjusted Book Value per Share data for the three months ended in Jun. 2026 was:

Adj_Book=Book Value per Share/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=356.019/333.9520*333.9520
=356.019

Current CPI (Jun. 2026) = 333.9520.

Sea Quarterly Data

Book Value per Share CPI Adj_Book
201609 0.000 241.428 0.000
201612 -8.154 241.432 -11.279
201703 0.000 243.801 0.000
201706 -15.871 244.955 -21.637
201709 -24.247 246.819 -32.807
201712 27.500 246.524 37.253
201803 15.674 249.554 20.975
201806 13.407 251.989 17.768
201809 1.371 252.439 1.814
201812 -13.935 251.233 -18.523
201903 66.677 254.202 87.595
201906 59.438 256.143 77.494
201909 53.376 256.759 69.423
201912 47.326 256.974 61.503
202003 46.315 258.115 59.923
202006 40.406 257.797 52.342
202009 33.445 260.280 42.912
202012 131.449 260.474 168.530
202103 133.904 264.877 168.824
202106 132.548 271.696 162.920
202109 289.994 274.310 353.046
202112 272.129 278.802 325.959
202203 222.724 287.504 258.706
202206 192.436 296.311 216.882
202209 174.424 296.808 196.252
202212 197.311 296.797 222.012
202303 193.789 301.836 214.409
202306 196.275 305.109 214.830
202309 196.830 307.789 213.561
202312 195.557 306.746 212.901
202403 192.653 312.332 205.989
202406 219.050 314.175 232.839
202409 264.596 315.301 280.248
202412 296.397 315.605 313.627
202503 309.745 319.799 323.453
202506 307.772 322.561 318.641
202509 306.091 324.800 314.716
202512 369.126 324.054 380.401
202603 378.421 330.213 382.706
202606 356.019 333.952 356.019

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

Is Sea (MEX:SEN) Overvalued in 2026?

Based on GuruFocus' analysis, Sea stock appears to be undervalued. The current stock price of MXN2,230.00 is trading 4.1% below its estimated GF Value™ of MXN2,325.13. GuruFocus considers Sea to be Fairly Valued.

Key valuation signals for MEX:SEN:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: MXN2,325.13 vs. price of MXN2,230.00 (4.1% below fair value)
  • GF Score™: 84/100 with 2 warning signs

No single metric tells the full story. See the MEX:SEN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Sea Business Description

Address 1 Fusionopolis Place, No. 17-10, Galaxis, Singapore, SGP, 138522
Sea started as a gaming business, Garena, but in 2015 expanded into e-commerce. Sea operates Southeast Asia's largest e-commerce company, Shopee, in terms of gross merchandise value. Shopee is a hybrid consumer-to-consumer and business-to-consumer marketplace platform operating in Indonesia, Taiwan, Vietnam, Thailand, Malaysia, the Philippines, and Brazil. For Garena, Free Fire is the key revenue-generating game. Sea's third business, Monee, provides lending, payment, digital banking, and insurance services. As of March 2025, Forrest Li, the founder, chair, and CEO, owned 59.1% of the voting power. Tencent owned 18.5% of issued shares with no voting power.
84GF Score

Get the complete analysis for MEX:SEN

Cyclically Adjusted PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

MXN2,230.00
Price
MXN2,325.13
GF Value