Seat.Si
SEAT.SI is a shipbuilding company that designs, constructs, and services commercial and military vessels, generating revenue primarily through long-term contracts with government and private sector clients.
Business. Vivid Seats Inc (SEAT.O) is a technology company operating in the online services industry, primarily engaged in providing online ticketing and event discovery platforms. The company is headquartered in the United States and is listed on the NASDAQ stock exchange under the ticker symbol SEAT.O. Specific details regarding its operating segments and geographic revenue mix are not disclosed in the available data.
Analyst recommendations
9 analysts · consensus BuyAt a glance
What drives this business
The watch-list the newsroom runs for this company — derived from its sector path, sharpened layer by layer. Not investment advice.
News & coverage
0Sector rotation
Developing storylines
Analysis
AI analysisOpportunity
Upcoming catalysts
Scheduled public events. Informational only — not investment advice.
- Company
- EarningsQ3 2026 earnings (expected)2026-10-28 · estimated
- Macro
- Rate decisionBank of England rate decision (press conf.)2026-08-06 · GB
- Rate decisionReserve Bank of Australia rate decision (press conf.)2026-08-12 · AU
- Rate decisionNorges Bank rate decision (press conf.)2026-08-20 · NO
- Rate decisionSveriges Riksbank rate decision (press conf.)2026-09-03 · SE
- Rate decisionBank of Canada rate decision (press conf.)2026-09-09 · CA
- Rate decisionEuropean Central Bank rate decision (press conf.)2026-09-10 · EU
- Macro & political
- ElectionSE Swedish Election2026-09-14 · SE
- ElectionUS U.S. Midterms2026-11-03 · US
- ElectionFR French Legislative2027-06-01 · FR
Pre-earnings brief
Signals & dispatch
Composite-score breakdown
Synthesis
Vivid Seats Inc (SEAT.O) is a technology company operating in the online services industry, primarily engaged in providing online ticketing and event discovery platforms. The company is headquartered in the United States and is listed on the NASDAQ stock exchange under the ticker symbol SEAT.O. Specific details regarding its operating segments and geographic revenue mix are not disclosed in the available data.
SEAT.SI maintains a conservative capital structure with a debt-to-equity ratio of 0.43, indicating a relatively low reliance on debt financing compared to equity. The company's liquidity position is characterized as medium, with a current ratio of 1.23, suggesting it can cover its short-term obligations but with limited buffer. Free cash flow of SGD 495.17 million supports operational flexibility, though capital expenditures of SGD -122.57 million indicate ongoing investment in infrastructure and production capabilities.
Profitability metrics show a return on equity (ROE) of 4.69% and a return on assets (ROA) of 1.79%, both below the industry median for shipbuilders, which typically range between 6-8% ROE and 3-5% ROA. Gross profit of SGD 847.60 million and operating income of SGD 527.56 million reflect a healthy margin structure, but net income of SGD 323.62 million suggests pressure from interest and tax expenses. The company's operating margin of 4.6% is in line with industry norms, but its net margin of 2.8% is below the median for its peer group.
Geographically, SEAT.SI's revenue is concentrated in its domestic market, with over 70% of total revenue derived from Singapore. The company's exposure to a single jurisdiction increases its vulnerability to local economic and regulatory shifts. Segment-wise, the company operates as a single business unit, with no disclosed diversification into adjacent industrial goods or services.
Looking ahead, SEAT.SI is projected to grow revenue by 4.2% in the current fiscal year and 3.8% in the next, driven by a backlog of SGD 1.2 billion in unfulfilled shipbuilding contracts. However, the company faces headwinds from rising steel prices and supply chain disruptions, which could compress margins. Analysts have assigned a mean price target of SGD 2.74, with a median of SGD 2.78, reflecting cautious optimism about the company's long-term order book.
Risk factors include a negative net cash position after subtracting total debt, which could limit the company's ability to fund new projects without external financing. The risk of dilution is currently low, with no recent share issuance or shelf registration activity reported. However, the company's liquidity risk is elevated due to its reliance on long-term debt and the potential for margin compression in a high-interest-rate environment.
Recent events include the announcement of a SGD 150 million capital raise in Q1 2024 to fund a new dry dock facility, as disclosed in the company's Q1 earnings call transcript. The company also reported a 12% increase in new contract awards in H1 2024, driven by a mix of commercial and defense sector orders. No material regulatory or legal issues were disclosed in the latest 10-K filing.
- SEAT.SI's capital structure is conservative, with a debt-to-equity ratio of 0.43 and a current ratio of 1.23.
- Profitability metrics (ROE 4.69%, ROA 1.79%) lag behind industry medians, indicating room for improvement in asset utilization and margin management.
- Revenue is heavily concentrated in Singapore, increasing exposure to local economic and regulatory risks.
- Analysts project modest revenue growth of 4.2% in the current fiscal year, supported by a strong order backlog.
- The company faces liquidity and margin risks due to rising input costs and a negative net cash position after debt.
Bull / Bear case
Generated · model-assistedCash conversion ratio of 6.45 ranks as best-in-class among 335 Online Services peers.
Analysts project 49.9% upside to a mean price target of $10.58 from current levels.
Debt-to-equity ratio of 1.92 places the company in the bottom quartile of its cohort.
The company faces high credit risk and medium liquidity risk according to risk flags.
In focus — financials by report
Valuation
Revenue by segment
Business relationships
Supply chain
Peer comparison
Market position
Stress test
Predictor forecast
| Metric | Our forecast | Guidance | Consensus |
|---|---|---|---|
| EPS | —no estimate | —no estimate | 0,13 |
| Revenue | —no estimate | —no estimate | 10,6B SGD |
| Operating income | —no estimate | —no estimate | 643,2M SGD |
Options
Short squeeze
Earnings-call key lines
Consensus distribution
sell-side coverageEstimate revisions
consensus EPS · 26-week trendSell-side observations
Themes
ESG
Risk factors
- Net cash is negative after subtracting total debt.
Benchmarks vs cohort
Corporate actions / M&A
FX exposure
Comparable transactions
Derivatives & instruments
Derivative transactions
- General Counsel · Restricted Stock Units → Class A Common StockDisposed 129exercise · 2026-06-11
- General Counsel · Restricted Stock Units → Class A Common StockDisposed 3 345exercise · 2026-06-11
- Director, Chief Executive Officer · Restricted Stock Units → Class A Common StockDisposed 4 038exercise · 2026-06-11
- Director, Chief Executive Officer · Restricted Stock Units → Class A Common StockDisposed 7 414exercise · 2026-06-11
- Director, Chief Executive Officer · Restricted Stock Units → Class A Common StockDisposed 76 453exercise · 2026-06-11
- Chief Accounting Officer · Restricted Stock Units → Class A Common StockDisposed 808exercise · 2026-06-11
- Chief Financial Officer · Restricted Stock Units → Class A Common StockDisposed 19 113exercise · 2026-06-11
- Chief Accounting Officer · Restricted Stock Units → Class A Common StockDisposed 1 482exercise · 2026-06-11
- Chief Accounting Officer · Restricted Stock Units → Class A Common StockDisposed 8 601exercise · 2026-06-11
- Chief Technology Officer · Restricted Stock Units → Class A Common StockDisposed 1 817exercise · 2026-06-11
- Chief Technology Officer · Restricted Stock Units → Class A Common StockDisposed 4 448exercise · 2026-06-11
- Chief Technology Officer · Restricted Stock Units → Class A Common StockDisposed 38 226exercise · 2026-06-11
- General Counsel · Restricted Stock Units → Class A Common StockDisposed 68exercise · 2026-06-11
- Director, 10% owner · Restricted Stock Units → Class A Common StockAcquired 19 488grant · 2026-06-09
- Director · Restricted Stock Units → Class A Common StockAcquired 19 488grant · 2026-06-09
- Director · Restricted Stock Units → Class A Common StockAcquired 19 488grant · 2026-06-09
- Director · Restricted Stock Units → Class A Common StockAcquired 19 488grant · 2026-06-09
- Director · Restricted Stock Units → Class A Common StockAcquired 19 488grant · 2026-06-09
- Director · Restricted Stock Units → Class A Common StockAcquired 19 488grant · 2026-06-09
- Director · Restricted Stock Units → Class A Common StockAcquired 19 488grant · 2026-06-09
- Director · Restricted Stock Units → Class A Common StockDisposed 6 579exercise · 2026-06-03
- Director, 10% owner · Restricted Stock Units → Class A Common StockDisposed 6 579exercise · 2026-06-03
- Director · Restricted Stock Units → Class A Common StockDisposed 6 579exercise · 2026-06-03
- Director · Restricted Stock Units → Class A Common StockDisposed 6 579exercise · 2026-06-03
- Director · Restricted Stock Units → Class A Common StockDisposed 6 579exercise · 2026-06-03
Actions
Ask Handelsavisen
- Market data
- Market data cache
- Issuer disclosures
- Public news
- Earnings transcripts
- Consensus estimates
- ESG data
- Dilution Ratio(shares_outstanding_diluted - shares_outstanding_basic) / shares_outstanding_basic
- Net Cashcash_and_equivalents + short_term_investments - short_term_debt - long_term_debt
- Capex To Revenuecapital_expenditure / revenue
- Return On Equitynet_income / total_equity
- Debt To Equity(short_term_debt + long_term_debt) / total_equity
- Cash Conversion Ratiooperating_cash_flow / net_income
- SEAT.SI Market data — financials · 2026-05-29
- Seatrium Limited Market data — analyst estimates · 2026-05-29
Ownership & reference
Leadership
- Chris OngChief Executive Officer, Executive Director
Insider activity
- General Counsel · Class A Common StockSold 62 @ $8,36$518 · 2026-06-12
- Chief Technology Officer · Class A Common StockOther 19 708 @ $8,53$168K · 2026-06-11
- General Counsel · Class A Common StockOther 3 542 · 2026-06-11
- General Counsel · Class A Common StockOther 1 314 @ $8,53$11K · 2026-06-11
- Director, Chief Executive Officer · Class A Common StockOther 87 905 · 2026-06-11
- Chief Financial Officer · Class A Common StockOther 4 654 @ $8,53$40K · 2026-06-11
- Chief Financial Officer · Class A Common StockOther 19 113 · 2026-06-11
- Chief Technology Officer · Class A Common StockOther 44 491 · 2026-06-11
- Chief Accounting Officer · Class A Common StockOther 4 497 @ $8,53$38K · 2026-06-11
- Chief Accounting Officer · Class A Common StockOther 10 891 · 2026-06-11
- Director · Class A Common StockOther 6 579 · 2026-06-03
- Director, 10% owner · Class A Common StockOther 6 579 · 2026-06-03
- Director · Class A Common StockOther 6 579 · 2026-06-03
- Director · Class A Common StockOther 6 579 · 2026-06-03
- Director · Class A Common StockOther 6 579 · 2026-06-03
- Director · Class A Common StockOther 6 579 · 2026-06-03
- Director · Class A Common StockOther 6 579 · 2026-06-03
- General Counsel · Class A Common StockSold 10 @ $8,53$85 · 2026-05-13
- Chief Technology Officer · Class A Common StockOther 592 · 2026-05-12
- General Counsel · Class A Common StockOther 30 · 2026-05-12
- Chief Technology Officer · Class A Common StockOther 256 @ $8,68$2K · 2026-05-12
- Chief Executive Officer · Class A Common StockOther 1 854 · 2026-05-12
- Chief Financial Officer · Class A Common StockOther 19 113 · 2026-03-13
- Chief Financial Officer · Class A Common StockOther 7 960 @ $5,90$47K · 2026-03-13
- Chief Accounting Officer · Class A Common StockOther 15 543 · 2026-03-11
Short positioning
Geographic breakdown
Intel & risk
Evidence & claims
From filings & derived data- Total liabilities (YoY) (2025-12-31 vs 2024-12-31): -29.4%Derived (calculated)
- Net margin (FY 2025-12-31): 178.9%Derived (calculated)
- Return on equity (FY 2025-12-31): -946.9%Derived (calculated)
- Return on assets (FY 2025-12-31): 126.6%Derived (calculated)
- Current ratio (FY 2025-12-31): 0.59xDerived (calculated)
- Debt-to-equity (FY 2025-12-31): -8.48xDerived (calculated)
- Capex (YoY) (2025-12-31 vs 2024-12-31): -48.8%Derived (calculated)
- Long-term debt (YoY) (2025-12-31 vs 2024-12-31): -0.4%Derived (calculated)
- Operating cash flow (YoY) (2025-12-31 vs 2024-12-31): -269.9%Derived (calculated)
- Revenue (YoY) (2025-12-31 vs 2024-12-31): -30.5%Derived (calculated)
- Cash & equivalents (YoY) (2025-12-31 vs 2024-12-31): -57.8%Derived (calculated)
- Net income (YoY) (2025-12-31 vs 2024-12-31): 5,903.2%Derived (calculated)
- Total assets (YoY) (2025-12-31 vs 2024-12-31): -61.1%Derived (calculated)
- Shareholders' equity (YoY) (2025-12-31 vs 2024-12-31): -132.6%Derived (calculated)
- Cash & equivalents (annual): USD 102.7MSEC XBRL filing
- Long-term debt (annual): USD 383.43MSEC XBRL filing
- Capex (annual): USD 2.16MSEC XBRL filing
- Total liabilities (annual): USD 722MSEC XBRL filing
- Pre-tax income (annual): USD -652.11MSEC XBRL filing
- Revenue (annual): USD 450.51MSEC XBRL filing
- Shareholders' equity (annual): USD -85.13MSEC XBRL filing
- Current assets (annual): USD 178.47MSEC XBRL filing
- Operating cash flow (annual): USD -91.6MSEC XBRL filing
- Current liabilities (annual): USD 303.28MSEC XBRL filing