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Side-by-side financial comparison of Mastercard (MA) and Sea Ltd (SE). Click either name above to swap in a different company.
Sea Ltd is the larger business by last-quarter revenue ($22.9B vs $8.8B, roughly 2.6× Mastercard). Mastercard runs the higher net margin — 46.1% vs 7.0%, a 39.1% gap on every dollar of revenue. On growth, Sea Ltd posted the faster year-over-year revenue change (363.4% vs 17.6%). Over the past eight quarters, Sea Ltd's revenue compounded faster (147.8% CAGR vs 17.8%).
Mastercard Inc. is an American multinational payment card services corporation headquartered in Purchase, New York. It offers a range of payment transaction processing and other related-payment services. Throughout the world, its principal business is to process payments between the banks of merchants and the card-issuing banks or credit unions of the purchasers who use the Mastercard-brand debit, credit and prepaid cards to make purchases. Mastercard has been publicly traded since 2006.
Sea Limited is a tech conglomerate headquartered in Singapore. It is listed on the New York Stock Exchange, with revenue of US$16.8 billion (2024). Sea currently functions as a holding company for Garena, Monee and Shopee, the largest e-commerce platform in Southeast Asia.
MA vs SE — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $8.8B | $22.9B |
| Net Profit | $4.1B | $1.6B |
| Gross Margin | — | 44.7% |
| Operating Margin | 55.8% | 8.7% |
| Net Margin | 46.1% | 7.0% |
| Revenue YoY | 17.6% | 363.4% |
| Net Profit YoY | 21.5% | — |
| EPS (diluted) | $4.52 | $2.52 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $8.8B | $22.9B | ||
| Q3 25 | $8.6B | $6.0B | ||
| Q2 25 | $8.1B | $5.3B | ||
| Q1 25 | $7.3B | $4.8B | ||
| Q4 24 | $7.5B | $5.0B | ||
| Q3 24 | $7.4B | $4.3B | ||
| Q2 24 | $7.0B | $3.8B | ||
| Q1 24 | $6.3B | $3.7B |
| Q4 25 | $4.1B | $1.6B | ||
| Q3 25 | $3.9B | $375.0M | ||
| Q2 25 | $3.7B | $414.2M | ||
| Q1 25 | $3.3B | $-7.8M | ||
| Q4 24 | $3.3B | — | ||
| Q3 24 | $3.3B | — | ||
| Q2 24 | $3.3B | — | ||
| Q1 24 | $3.0B | $-23.0M |
| Q4 25 | — | 44.7% | ||
| Q3 25 | — | 43.4% | ||
| Q2 25 | — | 45.8% | ||
| Q1 25 | — | 46.2% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 41.6% |
| Q4 25 | 55.8% | 8.7% | ||
| Q3 25 | 58.8% | 8.0% | ||
| Q2 25 | 58.7% | 9.3% | ||
| Q1 25 | 57.2% | 9.4% | ||
| Q4 24 | 52.6% | — | ||
| Q3 24 | 54.3% | — | ||
| Q2 24 | 58.0% | — | ||
| Q1 24 | 56.8% | 1.9% |
| Q4 25 | 46.1% | 7.0% | ||
| Q3 25 | 45.7% | 6.3% | ||
| Q2 25 | 45.5% | 7.9% | ||
| Q1 25 | 45.2% | -0.2% | ||
| Q4 24 | 44.6% | — | ||
| Q3 24 | 44.3% | — | ||
| Q2 24 | 46.8% | — | ||
| Q1 24 | 47.4% | -0.6% |
| Q4 25 | $4.52 | $2.52 | ||
| Q3 25 | $4.34 | $0.59 | ||
| Q2 25 | $4.07 | $0.65 | ||
| Q1 25 | $3.59 | $0.65 | ||
| Q4 24 | $3.64 | — | ||
| Q3 24 | $3.53 | — | ||
| Q2 24 | $3.50 | — | ||
| Q1 24 | $3.22 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $10.6B | $10.6B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $7.7B | $12.6B |
| Total Assets | $54.2B | $29.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $10.6B | $10.6B | ||
| Q3 25 | $10.3B | — | ||
| Q2 25 | $9.0B | — | ||
| Q1 25 | $7.6B | — | ||
| Q4 24 | $8.4B | $8.6B | ||
| Q3 24 | $11.1B | — | ||
| Q2 24 | $7.0B | — | ||
| Q1 24 | $7.3B | — |
| Q4 25 | $7.7B | $12.6B | ||
| Q3 25 | $7.9B | — | ||
| Q2 25 | $7.9B | — | ||
| Q1 25 | $6.7B | — | ||
| Q4 24 | $6.5B | $8.4B | ||
| Q3 24 | $7.4B | — | ||
| Q2 24 | $7.4B | — | ||
| Q1 24 | $7.2B | — |
| Q4 25 | $54.2B | $29.4B | ||
| Q3 25 | $53.3B | — | ||
| Q2 25 | $51.4B | — | ||
| Q1 25 | $48.5B | — | ||
| Q4 24 | $48.1B | $22.6B | ||
| Q3 24 | $47.2B | — | ||
| Q2 24 | $42.3B | — | ||
| Q1 24 | $42.6B | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $5.0B | $5.0B |
| Free Cash FlowOCF − Capex | $4.9B | — |
| FCF MarginFCF / Revenue | 55.5% | — |
| Capex IntensityCapex / Revenue | 1.3% | — |
| Cash ConversionOCF / Net Profit | 1.23× | 3.12× |
| TTM Free Cash FlowTrailing 4 quarters | $17.2B | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $5.0B | $5.0B | ||
| Q3 25 | $5.7B | $3.5B | ||
| Q2 25 | $4.6B | $2.4B | ||
| Q1 25 | $2.4B | $756.9M | ||
| Q4 24 | $4.8B | — | ||
| Q3 24 | $5.1B | — | ||
| Q2 24 | $3.1B | — | ||
| Q1 24 | $1.7B | $468.5M |
| Q4 25 | $4.9B | — | ||
| Q3 25 | $5.5B | — | ||
| Q2 25 | $4.6B | — | ||
| Q1 25 | $2.2B | — | ||
| Q4 24 | $4.7B | — | ||
| Q3 24 | $5.0B | — | ||
| Q2 24 | $3.0B | — | ||
| Q1 24 | $1.5B | — |
| Q4 25 | 55.5% | — | ||
| Q3 25 | 63.8% | — | ||
| Q2 25 | 56.1% | — | ||
| Q1 25 | 30.6% | — | ||
| Q4 24 | 63.3% | — | ||
| Q3 24 | 68.2% | — | ||
| Q2 24 | 43.4% | — | ||
| Q1 24 | 23.9% | — |
| Q4 25 | 1.3% | — | ||
| Q3 25 | 2.1% | — | ||
| Q2 25 | 0.5% | — | ||
| Q1 25 | 2.2% | — | ||
| Q4 24 | 1.3% | — | ||
| Q3 24 | 1.5% | — | ||
| Q2 24 | 1.7% | — | ||
| Q1 24 | 2.5% | — |
| Q4 25 | 1.23× | 3.12× | ||
| Q3 25 | 1.44× | 9.46× | ||
| Q2 25 | 1.24× | 5.73× | ||
| Q1 25 | 0.73× | — | ||
| Q4 24 | 1.45× | — | ||
| Q3 24 | 1.57× | — | ||
| Q2 24 | 0.96× | — | ||
| Q1 24 | 0.56× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MA
| Payment Network | $4.9B | 56% |
| Value Added Services And Solutions | $3.9B | 44% |
SE
Segment breakdown not available.
