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DLocal Limited

DLO Technology Software Infrastructure

DLocal Limited’s revenue for fiscal 2025 (year ended December 2025) was $1.1 billion, up 46.6% from fiscal 2024.

Revenue
+55.8%
EPS
+26.7%
Free cash flow
+12.6%
Total debt
−39.7%

Quarter to June 2026, against a year earlier

13.41 0.49 −3.53%
Market cap
$3.8B
P/E
19.2×
Fwd P/E
15.9×
Dividend yield
1.47%
F-score
6/9
Altman Z
4.56
Beneish M
−2.91
Dividend safety
57/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 0.24
Sold, $m 16.23
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — 1 — — — — — —
Sell — — — — — — — 2 1 — — —
Insider Ownership 71.09%

Capital & Financial Ratios $m

Size
Market Cap 3,790.00
Revenue ttm 1,355.90
Net income ttm 247.26
Free cash flow ttm 388.40
Net debt Q (872.53)
Valuation
P/E 19.16
Forward P/E 15.90
Price / sales 2.85
Forward P/S Powerpack
Price / FCF 9.95
Price / book 7.15 (above 6: high)
Financial health
Current ratio Q 1.25
Debt / equity Q 0.00 (at or below 0.5: strong)
Interest coverage Q 23.27
Growth
Revenue growth Q +55.84% (above 0%: growing)
Operating income growth Q +15.06% (above 0%: growing)
EPS, this year +6.22%
EPS, next year A +33.34% (at or above 15%: strong)
Revenue, next year A +45.21% (at or above 10%: strong)
EPS, past 5 yrs +45.70% (at or above 15%: strong)
EPS, next 5 yrs A +19.83% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 2.3×, against a ten-year median of 5.6×; over the ten years it ranged from 2.1× in 2026 to 124× in 2021.
P/E against its own 10 years 13.16%
10-year low 10-year high
P/S against its own 10 years 1.34%
10-year low 10-year high
P/B against its own 10 years 26.54%
10-year low 10-year high
EV/Sales against its own 10 years 3.49%
10-year low 10-year high
EV/FCF against its own 10 years 7.41%
10-year low 10-year high

Dividends

Yield
1.47%
Annual rate
0.20
Payout ratio
29.4%
  1. 0.20 ’26
paid change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 639 554 819 874
Receivables 363 497 572 1,149
Inventory — — — —
Other 14 22 30 25
1,016 1,073 1,421 2,049
2023 2024 2025 Q'26
Payables 602 598 854 1,555
ST’ Debt — 50 — —
Other 1 57 89 67
625 678 966 1,643

Compound Annual Growth %

10y 5y 3y
Sales — 60.05% 37.69%
Cash Flow — 36.25% 39.07%
Earnings — 47.50% 21.89%
Book Value — 66.09% 12.53%

Earnings Trends EPS, adjusted, against the consensus

Jun 2026 Estimate 0.20 Actual 0.18

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Sep 2025 0.16 0.17 Beat by 0.01
Dec 2025 0.18 0.22 Beat by 0.04
Mar 2026 0.16 0.17 Beat by 0.01
Jun 2026 0.20 0.18 Miss by 0.02
Sep 2026 0.22 — Reports 12 November 2026

EPS $

Mar Jun Sep Dec Year
’26 0.14 0.18 — — —
’25 0.15 0.14 0.17 0.18 0.65
’24 0.06 0.15 0.09 0.10 0.39
’23 0.11 0.15 0.13 0.10 0.49
’22 0.08 0.10 0.10 0.06 0.35
’21 0.06 0.06 0.06 0.08 0.25
’20 0.98 — 0.03 — 0.10
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 336 400 — — —
’25 217 256 282 338 1,094
’24 184 171 186 204 746
’23 137 161 164 188 650
’22 87 101 112 118 419
’21 40 59 69 76 244
’20 18 — 31 — 104
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 93 141 — — —
’25 95 124 95 100 415
’24 40 29 40 (141) (33)
’23 85 140 8 61 293
’22 76 34 86 (41) 154
’21 3 — 69 39 108
’20 0 — 51 38 88
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 83 131 — — —
’25 88 116 86 89 379
’24 34 24 34 (147) (55)
’23 81 135 3 57 275
’22 73 31 83 (45) 142
’21 2 — 24 37 60
’20 (1) — 48 37 85
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.3
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue — — — 55 104 244 419 650 746 1,094 1,356 +64.5% 1,588 2,071 2,527 +32.2%
Gross margin, % — — — 64.89 57.69 53.43 48.26 42.57 39.50 36.83 34.28 (28.1) pt
EBT — — — 18 31 86 120 179 151 229 247 +53.0%
EBT margin, % — — — 32.24 30.17 35.02 28.71 27.45 20.24 20.91 18.24 (11.3) pt
Net income — 0 — 18 31 86 120 179 151 229 247 n/m
Per share, $
Per share, $ Revenue — — — 103.77 0.39 0.85 1.42 2.23 2.57 3.76 4.71 (42.5%)
Earnings — — — 29.28 0.10 0.27 0.37 0.51 0.42 0.68 0.70 (46.6%)
Cash flow — — — 57.66 0.33 0.38 0.52 1.01 (0.11) 1.43 1.49 (46.0%)
Capex — — — (3.20) (0.01) (0.17) (0.04) (0.06) (0.08) (0.13) (0.14) (41.6%)
Free cash flow — — — 54.46 0.32 0.21 0.48 0.94 (0.19) 1.30 1.35 (46.3%)
Book value — — — 46.04 0.17 0.98 1.35 1.56 1.69 1.96 1.88 (40.9%)
Shares, m — — — 1 269 287 296 292 290 291 291 +185.9%
Valuation, ×
Valuation, × P/E — — — 44.37 44.37 131.02 41.54 34.02 26.81 20.79 19.16 49.0
P/S — — — 0.00 0.00 41.98 10.85 7.79 4.38 3.76 2.85 9.8
P/B — — — 80.50 80.50 36.56 11.37 11.13 6.68 7.23 7.15 33.4
EV/Sales — — — 0.00 0.00 40.63 9.74 6.81 3.71 3.07 2.25 9.1
EV/FCF — — — 94.07 94.07 102.38 28.70 16.10 (49.87) 8.88 7.86 42.0
Cash, $m
Cash, $m Operating cash flow — — — 31 88 108 154 293 (33) 415 429 +54.4%
Capex — — — (2) (4) (48) (12) (18) (23) (37) (40) +66.8%
Free cash flow — — — 29 85 60 142 275 (55) 379 388 +53.4%
Balance, $m
Balance, $m Working capital — — — 22 40 231 346 391 395 455 406 +65.2%
Net debt — — — (50) (120) (329) (466) (636) (501) (817) (873) +59.4%
Shareholders’ equity — — — 25 45 280 400 455 489 569 541 +68.9%
Returns, %
Returns, % ROA — — — 39.20 20.13 19.88 15.42 15.59 10.68 14.51 11.95 (24.7) pt
ROIC — — — 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.0 pt
ROE — — — 44.85 81.02 47.87 31.97 34.86 25.51 37.19 41.26 (7.7) pt
People
People Employees — — — — 310 535 726 901 1,095 1,274 — +32.7%
Revenue/emp, $m — — — 0.00 0.34 0.46 0.58 0.72 0.68 0.86 — n/m
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

DLocal Limited vs peers in Software Infrastructure (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
DOX Amdocs Limited $4.7B 10.4× 11.4× +2.66% (above 0%: growing) −57.55% (below 0%: shrinking) −18.84% (below 0%: shrinking) 39.76% 8.90% Compare
APPN Appian Corporation $3.9B — (loss-making) 1,228× +25.47% (above 0%: growing) +54.55% (above 0%: growing) −210.79% (below 0%: shrinking) 0.00% 9.08% Compare
DLO DLocal Limited $3.8B 19.2× 15.9× +55.84% (above 0%: growing) +26.67% (above 0%: growing) +12.57% (above 0%: growing) 31.81% 16.05%
PAY Paymentus Holdings, Inc. $3.7B 44.7× 45.6× +19.77% (above 0%: growing) +55.71% (above 0%: growing) +32.10% (above 0%: growing) 25.21% 9.01% Compare
CORZ Core Scientific, Inc. $3.7B — (loss-making) — (loss-making) +108.83% (above 0%: growing) n/m −852.12% (below 0%: shrinking) 42.66% (47.79%) Compare
AVPT AvePoint, Inc. $3.5B 45.6× 57.7× +19.48% (above 0%: growing) +50.00% (above 0%: growing) −13.62% (below 0%: shrinking) 72.20% 8.73% Compare
FOUR Shift4 Payments, Inc. $3.4B 67.6× 28.3× +34.06% (above 0%: growing) −77.14% (below 0%: shrinking) −109.09% (below 0%: shrinking) 34.44% 7.34% Compare
WIX Wix.com Ltd. $3.2B — (loss-making) — (loss-making) +14.93% (above 0%: growing) n/m −64.35% (below 0%: shrinking) 65.77% (10.44%) Compare
BLSH Bullish $3.1B — (loss-making) — (loss-making) −44.34% (below 0%: shrinking) n/m +2.25% (above 0%: growing) 0.25% (0.87%) Compare
Median of peers $3.6B 45.1× 45.6× +19.62% +50.00% −41.59% 37.10% 8.04%

All 183 Software Infrastructure stocks →

DLocal Limited (DLO) Latest News

20 Oct

Impact 4 · · Simply Wall St.

15 Oct

Impact 3 · · TheStreet

14 Oct

Impact 3 · · Insider Monkey

27 Sep

Impact 4 · · Insider Monkey

15 Sep

Impact 3 ·

14 Sep

Impact 3 ·

12 Sep

Impact 3 · · The Motley Fool

27 Aug

Impact 4 ·

20 Aug

Impact 3 · · The Motley Fool transcript

14 Aug

Impact 4 ·
Impact 3 · · Moby transcript

13 Aug

Impact 4 ·
Impact 4 ·
Impact 4 ·
Impact 3 · · MarketBeat transcript
Impact 3 ·

28 Jul

Impact 3 ·

15 Jun

Impact 4 ·

14 Jun

Impact 4 ·

10 Jun

Impact 3 · · Insider Monkey

19 May

Impact 3 · · MarketBeat

15 May

Impact 4 · · Simply Wall St.
Impact 4 · · The Motley Fool transcript
Impact 4 · · GuruFocus.com
Impact 3 · · Simply Wall St.
Impact 3 · · Benzinga
Impact 3 · · GuruFocus.com

14 May

Impact 4 · · MarketBeat
Impact 4 · · Zacks
Impact 3 · · Reuters

DLO metrics, ten years each

stockrow.com/DLO · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com