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Side-by-side financial comparison of Sea Ltd (SE) and Ulta Beauty (ULTA). Click either name above to swap in a different company.
Sea Ltd is the larger business by last-quarter revenue ($22.9B vs $3.9B, roughly 5.9× Ulta Beauty). Ulta Beauty runs the higher net margin — 9.1% vs 7.0%, a 2.1% gap on every dollar of revenue. On growth, Sea Ltd posted the faster year-over-year revenue change (363.4% vs 100.0%). Over the past eight quarters, Sea Ltd's revenue compounded faster (147.8% CAGR vs 4.7%).
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.
Ulta Beauty, Inc., formerly known as Ulta Salon, Cosmetics & Fragrance Inc. and before 2000 as Ulta3, is an American chain of cosmetic stores headquartered in Bolingbrook, Illinois. Ulta Beauty carries both high- and low-end cosmetics, fragrances, nail products, bath and body products, beauty tools and haircare products. Each location has a beauty salon available to the public.
SE vs ULTA — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2027
| Metric | | |
|---|---|---|
| Revenue | $22.9B | $3.9B |
| Net Profit | $1.6B | $356.7M |
| Gross Margin | 44.7% | 38.1% |
| Operating Margin | 8.7% | 12.2% |
| Net Margin | 7.0% | 9.1% |
| Revenue YoY | 363.4% | 100.0% |
| Net Profit YoY | — | 9.1% |
| EPS (diluted) | $2.52 | $8.01 |
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.
| Q1 26 | — | $3.9B | ||
| Q4 25 | $22.9B | $2.9B | ||
| Q3 25 | $6.0B | $2.8B | ||
| Q2 25 | $5.3B | $2.8B | ||
| Q1 25 | $4.8B | — | ||
| Q4 24 | $5.0B | $2.5B | ||
| Q3 24 | $4.3B | $2.6B | ||
| Q2 24 | $3.8B | $2.7B |
| Q1 26 | — | $356.7M | ||
| Q4 25 | $1.6B | $230.9M | ||
| Q3 25 | $375.0M | $260.9M | ||
| Q2 25 | $414.2M | $305.1M | ||
| Q1 25 | $-7.8M | — | ||
| Q4 24 | — | $242.2M | ||
| Q3 24 | — | $252.6M | ||
| Q2 24 | — | $313.1M |
| Q1 26 | — | 38.1% | ||
| Q4 25 | 44.7% | 40.4% | ||
| Q3 25 | 43.4% | 39.2% | ||
| Q2 25 | 45.8% | 39.1% | ||
| Q1 25 | 46.2% | — | ||
| Q4 24 | — | 39.7% | ||
| Q3 24 | — | 38.3% | ||
| Q2 24 | — | 39.2% |
| Q1 26 | — | 12.2% | ||
| Q4 25 | 8.7% | 10.8% | ||
| Q3 25 | 8.0% | 12.4% | ||
| Q2 25 | 9.3% | 14.1% | ||
| Q1 25 | 9.4% | — | ||
| Q4 24 | — | 12.6% | ||
| Q3 24 | — | 12.9% | ||
| Q2 24 | — | 14.7% |
| Q1 26 | — | 9.1% | ||
| Q4 25 | 7.0% | 8.1% | ||
| Q3 25 | 6.3% | 9.4% | ||
| Q2 25 | 7.9% | 10.7% | ||
| Q1 25 | -0.2% | — | ||
| Q4 24 | — | 9.6% | ||
| Q3 24 | — | 9.9% | ||
| Q2 24 | — | 11.5% |
| Q1 26 | — | $8.01 | ||
| Q4 25 | $2.52 | $5.14 | ||
| Q3 25 | $0.59 | $5.78 | ||
| Q2 25 | $0.65 | $6.70 | ||
| Q1 25 | $0.65 | — | ||
| Q4 24 | — | $5.14 | ||
| Q3 24 | — | $5.30 | ||
| Q2 24 | — | $6.47 |
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 | $494.2M |
| Total DebtLower is stronger | — | $62.3M |
| Stockholders' EquityBook value | $12.6B | $2.8B |
| Total Assets | $29.4B | $7.0B |
| Debt / EquityLower = less leverage | — | 0.02× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $494.2M | ||
| Q4 25 | $10.6B | $204.9M | ||
| Q3 25 | — | $242.7M | ||
| Q2 25 | — | $454.6M | ||
| Q1 25 | — | — | ||
| Q4 24 | $8.6B | $177.8M | ||
| Q3 24 | — | $414.0M | ||
| Q2 24 | — | $524.6M |
| Q1 26 | — | $62.3M | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $2.8B | ||
| Q4 25 | $12.6B | $2.6B | ||
| Q3 25 | — | $2.6B | ||
| Q2 25 | — | $2.4B | ||
| Q1 25 | — | — | ||
| Q4 24 | $8.4B | $2.3B | ||
| Q3 24 | — | $2.3B | ||
| Q2 24 | — | $2.3B |
| Q1 26 | — | $7.0B | ||
| Q4 25 | $29.4B | $7.0B | ||
| Q3 25 | — | $6.6B | ||
| Q2 25 | — | $6.0B | ||
| Q1 25 | — | — | ||
| Q4 24 | $22.6B | $6.0B | ||
| Q3 24 | — | $5.7B | ||
| Q2 24 | — | $5.6B |
| Q1 26 | — | 0.02× | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | $1.5B |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | 11.2% |
| Cash ConversionOCF / Net Profit | 3.12× | 4.21× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $1.5B | ||
| Q4 25 | $5.0B | $5.6M | ||
| Q3 25 | $3.5B | $96.5M | ||
| Q2 25 | $2.4B | $220.0M | ||
| Q1 25 | $756.9M | — | ||
| Q4 24 | — | $-56.8M | ||
| Q3 24 | — | $199.5M | ||
| Q2 24 | — | $159.3M |
| Q1 26 | — | — | ||
| Q4 25 | — | $-81.6M | ||
| Q3 25 | — | $19.6M | ||
| Q2 25 | — | $141.0M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $-171.1M | ||
| Q3 24 | — | $104.3M | ||
| Q2 24 | — | $68.3M |
| Q1 26 | — | — | ||
| Q4 25 | — | -2.9% | ||
| Q3 25 | — | 0.7% | ||
| Q2 25 | — | 4.9% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | -6.8% | ||
| Q3 24 | — | 4.1% | ||
| Q2 24 | — | 2.5% |
| Q1 26 | — | 11.2% | ||
| Q4 25 | — | 3.1% | ||
| Q3 25 | — | 2.8% | ||
| Q2 25 | — | 2.8% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 4.5% | ||
| Q3 24 | — | 3.7% | ||
| Q2 24 | — | 3.3% |
| Q1 26 | — | 4.21× | ||
| Q4 25 | 3.12× | 0.02× | ||
| Q3 25 | 9.46× | 0.37× | ||
| Q2 25 | 5.73× | 0.72× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | -0.23× | ||
| Q3 24 | — | 0.79× | ||
| Q2 24 | — | 0.51× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
