Macy's vs Sea Limited
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The short version
- Sea Limited is the larger business, with $22.9B of revenue in fiscal 2025 against $22.6B for Macy's.
- Sea Limited grew revenue faster (36.4%, against −1.7%).
- Sea Limited kept more of each dollar of sales as operating profit (8.7% operating margin, against 4.6%).
- Sea Limited turned more of its sales into free cash flow (19.7% FCF margin, against 4.7%).
| Latest fiscal year | M · FY25 | SE · FY25 |
|---|---|---|
| Size | ||
| Market cap | $6.6B | $47.6B |
| Revenue | $22.6B | $22.9B |
| Free cash flow | $1.1B | $4.5B |
| Net income | $642M | $1.6B |
| Growth | ||
| Revenue growth | −1.7% | 36.4% |
| 5-year growth | 5.5% | 39.3% |
| Share count change | −1.8% | 5.5% |
| Profitability | ||
| Gross margin | 40.3% | 44.7% |
| Operating margin | 4.6% | 8.7% |
| Net margin | 2.8% | 6.9% |
| FCF margin | 4.7% | 19.7% |
| Return on capital | 12.9% | — |
| Return on equity | 13.6% | 15.1% |
| Balance sheet | ||
| Net debt | $1.2B | −$10.5B |
| Net debt / EBITDA | 0.6x | −4.5x |
| Dividends and buybacks | $447M | $14.0M |
| Valuation & quality | ||
| P/E | 8.8x | — |
| Piotroski F-score | 8 | 8 |
Revenue
FY16
M $25.9B
SE $346M
FY17
M $24.9B
SE $414M
FY18
M $25.0B
SE $827M
FY19
M $24.6B
SE $2.2B
FY20
M $17.3B
SE $4.4B
FY21
M $25.4B
SE $10.0B
FY22
M $25.4B
SE $12.4B
FY23
M $23.9B
SE $13.1B
FY24
M $23.0B
SE $16.8B
FY25
M $22.6B
SE $22.9B
M
SE
Operating margin
FY16
M 5.3%
SE −59.4%
FY17
M 7.5%
SE −121.3%
FY18
M 7.0%
SE −119.6%
FY19
M 4.0%
SE −41.0%
FY20
M −25.8%
SE −29.8%
FY21
M 9.3%
SE −15.9%
FY22
M 6.6%
SE −12.0%
FY23
M 1.3%
SE 1.7%
FY24
M 4.0%
SE 3.9%
FY25
M 4.6%
SE 8.7%
M
SE
Free cash flow
FY16
M $1.2B
SE −$119M
FY17
M $1.5B
SE −$327M
FY18
M $1.1B
SE −$673M
FY19
M $706M
SE −$170M
FY20
M $311M
SE $220M
FY21
M $2.4B
SE −$564M
FY22
M $727M
SE −$2.0B
FY23
M $674M
SE $1.8B
FY24
M $760M
SE $3.0B
FY25
M $1.1B
SE $4.5B
M
SE
Return on capital
FY16
M 9.1%
SE —
FY17
M 19.1%
SE —
FY18
M 13.6%
SE —
FY19
M 7.7%
SE —
FY20
M −45.3%
SE —
FY21
M 33.1%
SE —
FY22
M 23.0%
SE —
FY23
M 4.9%
SE 3.4%
FY24
M 11.5%
SE 13.8%
FY25
M 12.9%
SE —
M
SE
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.