Pricing Log in Create free account
Wednesday 4 November 2026 Export MELI’s income statement to Excel — free account

MercadoLibre, Inc.

MELI Consumer Cyclical Internet Retail

MercadoLibre, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $28.9 billion, up 39.1% from fiscal 2024.

Revenue
+49.8%
EPS
−10.9%
Free cash flow
+22.5%
Total debt
+45.5%

Quarter to June 2026, against a year earlier

1,739.14 76.98 +4.63%
Market cap
$84.3B
P/E
45.4×
Fwd P/E
42.6×
Dividend yield
—
F-score
5/9
Altman Z
2.96
Beneish M
−3.04
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by segment Fiscal 2020

  • Brazil
  • Argentina
  • Mexico
  • Other countries
  • Other Countries

Every year since 2016 →

Insider Decisions last twelve months

Bought, $m 1.29
Sold, $m 2.31
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — 1 — — 1 1 — — — — —
Sell 3 — — — — — — — — — — —
Insider Ownership 7.31%

Capital & Financial Ratios $m

Size
Market Cap 84,270.00
Revenue ttm 35,182.00
Net income ttm 1,863.00
Free cash flow ttm 12,409.00
Net debt Q (8,218.00)
Valuation
P/E 45.41 (above 35: high)
Forward P/E 42.60 (above 35: high)
Price / sales 2.41
Forward P/S Powerpack
Price / FCF 6.83
Price / book 10.81 (above 6: high)
Financial health
Current ratio Q 1.12
Debt / equity Q 1.36
Interest coverage Q 11.02
Growth
Revenue growth Q +49.76% (above 0%: growing)
Operating income growth Q −17.21% (below 0%: shrinking)
EPS, this year −3.10% (below 0%: weak)
EPS, next year A +44.77% (at or above 15%: strong)
Revenue, next year A +44.87% (at or above 10%: strong)
EPS, past 5 yrs —
EPS, next 5 yrs A +24.33% (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 2.2×, against a ten-year median of 8.8×; over the ten years it ranged from 2.1× in 2026 to 22.5× in 2020.
P/E against its own 10 years 8.87%
10-year low 10-year high
P/S against its own 10 years 0.15%
10-year low 10-year high
P/B against its own 10 years 1.05%
10-year low 10-year high
EV/Sales against its own 10 years 0.15%
10-year low 10-year high
EV/FCF against its own 10 years 0.26%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—
Growth, 2016–25
−100.0%/yr
  1. 0.60 ’16
  2. 0.60 ’17 +0
  3. 0.00 ’19 −100
  4. 0.00 ’20
  5. 0.00 ’21
  6. 0.00 ’22
  7. 0.00 ’23
  8. 0.00 ’24
  9. 0.00 ’25
paid change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 7,328 9,184 16,166 18,844
Receivables 6,417 10,259 16,117 20,179
Inventory 238 296 570 822
Other 277 403 720 937
14,260 20,142 33,573 40,782
2023 2024 2025 Q'26
Payables 2,117 3,196 4,502 5,739
ST’ Debt 2,292 2,828 4,623 6,482
Other 119 209 409 558
11,263 16,603 28,633 36,372

Compound Annual Growth %

10y 5y 3y
Sales 46.11% 48.70% 38.91%
Cash Flow 49.22% 59.28% 60.33%
Earnings 34.15% 0.00% 60.61%
Book Value 34.85% 32.51% 54.58%

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate 8.69 Actual 9.19

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 9.43 8.32 Miss by 1.11
Q4 FY25 11.77 11.03 Miss by 0.74
Q1 FY26 8.78 8.23 Miss by 0.55
Q2 FY26 8.69 9.19 Beat by 0.50
Q3 FY26 9.41 — Reports 4 November 2026

EPS $

Mar Jun Sep Dec Year
’26 8.23 9.19 — — —
’25 9.74 10.31 8.32 11.03 39.40
’24 6.78 10.48 7.83 12.61 37.69
’23 3.97 5.16 7.16 3.25 19.46
’22 1.30 2.43 2.56 3.25 9.53
’21 (0.68) 1.37 1.92 (0.92) 1.67
’20 (0.44) 1.11 0.28 (1.02) (0.02)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 8,845 10,169 — — —
’25 5,935 6,790 7,409 8,759 28,893
’24 4,333 5,073 5,312 6,059 20,777
’23 3,186 3,585 3,927 4,409 15,107
’22 2,248 2,597 2,690 3,245 10,780
’21 1,378 1,703 1,858 2,130 7,069
’20 652 878 1,116 1,328 3,974
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 2,075 3,662 — — —
’25 1,031 2,917 2,959 5,209 12,116
’24 1,512 1,882 1,600 2,924 7,918
’23 859 1,412 941 1,928 5,140
’22 (233) 907 724 1,542 2,940
’21 (265) 264 265 701 965
’20 (86) 650 361 256 1,182
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 1,804 3,221 — — —
’25 759 2,630 2,602 4,782 10,773
’24 1,362 1,695 1,373 2,619 7,058
’23 770 1,298 815 1,748 4,631
’22 (370) 807 618 1,429 2,484
’21 (386) 102 94 546 356
’20 (131) 601 297 169 935
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing −10.1% a year for ten years. It grew 61.1% a year over the last ten.

Implied
−10.1%
10 years, reported
61.1%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

1.5
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 844 1,217 1,440 2,296 3,974 7,069 10,780 15,107 20,777 28,893 35,182 +48.1% 41,858 54,066 66,941 +32.3%
Gross margin, % 63.58 59.15 48.41 48.00 43.00 42.51 48.22 50.24 46.09 44.50 42.68 (19.1) pt
EBT 185 54 (65) (107) 81 241 780 1,553 2,432 2,842 2,605 +35.4%
EBT margin, % 21.95 4.44 (4.55) (4.67) 2.04 3.41 7.24 10.28 11.71 9.84 7.40 (12.1) pt
Net income 136 14 (37) (172) (1) 83 482 987 1,911 1,997 1,863 +34.7%
Per share, $
Per share, $ Revenue 19.12 27.55 32.33 47.16 79.90 141.94 214.12 300.56 409.82 569.91 693.96 +45.8%
Earnings 3.09 0.31 (0.82) (3.71) (0.02) 1.67 9.57 19.64 37.69 39.40 36.77 +32.7%
Cash flow 4.31 6.09 5.19 9.26 23.76 19.38 58.40 102.26 156.18 238.99 274.28 +56.2%
Capex (1.75) (1.70) (2.20) (2.81) (4.97) (12.23) (9.06) (10.13) (16.96) (26.49) (29.51) +35.2%
Free cash flow 2.56 4.40 2.99 6.45 18.80 7.15 49.34 92.14 139.22 212.50 244.77 +63.4%
Book value 9.71 7.38 7.56 40.73 33.20 30.74 36.29 61.10 85.82 133.10 154.53 +33.8%
Shares, m 44 44 45 49 50 50 50 50 51 51 51 +1.5%
Valuation, ×
Valuation, × P/E 52.28 1,008.06 0.00 0.00 0.00 797.87 86.23 77.74 45.10 51.12 45.41 211.8
P/S 8.42 11.71 9.06 12.13 20.97 9.50 3.86 5.09 4.15 3.53 2.41 8.8
P/B 16.58 43.72 38.73 14.04 50.45 43.86 22.76 25.03 19.81 15.13 10.81 29.0
EV/Sales 8.21 11.52 8.93 11.16 20.38 9.37 3.77 4.90 3.98 3.29 2.17 8.6
EV/FCF 61.44 72.19 96.50 81.53 86.62 186.00 16.41 16.01 11.74 8.84 6.16 63.7
Cash, $m
Cash, $m Operating cash flow 190 269 231 451 1,182 965 2,940 5,140 7,918 12,116 13,905 +58.7%
Capex (77) (75) (98) (137) (247) (609) (456) (509) (860) (1,343) (1,496) +37.3%
Free cash flow 113 194 133 314 935 356 2,484 4,631 7,058 10,773 12,409 +65.9%
Balance, $m
Balance, $m Working capital 293 319 345 2,037 1,711 2,338 2,391 2,997 3,539 4,940 4,410 +36.9%
Net debt (174) (229) (191) (2,231) (2,340) (940) (944) (2,833) (3,469) (6,973) (8,218) +50.7%
Shareholders’ equity 429 326 337 1,983 1,652 1,531 1,827 3,071 4,351 6,748 7,834 +35.8%
Returns, %
Returns, % ROA 11.50 0.91 (1.87) (5.15) (0.02) 1.00 4.04 6.30 8.93 5.89 4.42 (5.6) pt
ROIC 44.39 36.45 (29.82) 0.00 0.00 46.64 75.67 579.57 186.44 0.00 0.00 (44.4) pt
ROE 35.50 3.65 (11.04) (15.59) (0.06) 5.22 28.71 40.30 51.50 35.99 27.50 +0.5 pt
People
People Employees 4,146 5,582 2,409 3,492 5,201 9,471 13,856 15,638 18,282 20,347 — +19.3%
Revenue/emp, $m 0.20 0.22 0.60 0.66 0.76 0.75 0.78 0.97 1.14 1.42 — +24.1%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Business profile

Updated

MercadoLibre operates an online commerce and financial services ecosystem in Latin America. Founded in 1997 and headquartered in Saavedra, it is led by chief executive Marcos Galperin. Its services connect consumers, merchants and brands through a marketplace, payments, shipping, advertising and financial products.

The Mercado Libre Marketplace lets people buy and sell products through an app or website. Most merchandise sold on the marketplace comes from third-party sellers, although MercadoLibre also sells selected goods from its own inventory. The assortment includes electronics, apparel, home goods and other everyday products. A separate classifieds service lets users list vehicles, properties and services.

Where the money comes from and where it goes Fiscal 2020

Fiscal 2020: revenue by segment, and margins
Brazil 2,194 55.21%
Argentina 980 24.66%
Mexico 575 14.47%
Other countries 225 5.66%
Other Countries 225 5.66%
Gross margin 43.00%
Operating margin 3.22%
Pre-tax margin 2.04%

Revenue by segment since 2016

MercadoLibre, Inc. vs peers in Internet Retail (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
BABA Alibaba Group Holding Limited $249.7B 22.1× 18.4× +14.66% (above 0%: growing) −74.13% (below 0%: shrinking) +17.19% (above 0%: growing) 38.24% 7.29% Compare
PDD PDD Holdings Inc. Sponsored ADR $114.1B 8.4× 8.0× +14.08% (above 0%: growing) −7.17% (below 0%: shrinking) +25.39% (above 0%: growing) 57.26% 24.71% Compare
MELI MercadoLibre, Inc. $84.3B 45.4× 42.6× +49.76% (above 0%: growing) −10.86% (below 0%: shrinking) +22.47% (above 0%: growing) 40.90% 6.72%
DASH DoorDash, Inc. $79.9B 75.0× 64.3× +33.95% (above 0%: growing) +87.79% (above 0%: growing) +8.85% (above 0%: growing) 52.97% 9.58% Compare
EBAY eBay Inc. $52.1B 25.5× 27.7× +13.69% (above 0%: growing) −19.47% (below 0%: shrinking) −2.09% (below 0%: shrinking) 72.33% 19.21% Compare
SE Sea Limited Sponsored ADR $43.5B 28.2× 25.2× +48.07% (above 0%: growing) +5.88% (above 0%: growing) −6.79% (below 0%: shrinking) 45.58% 8.35% Compare
JD JD.com, Inc. $32.4B 16.6× 9.8× +2.54% (above 0%: growing) +27.87% (above 0%: growing) +64.77% (above 0%: growing) 17.12% 1.31% Compare
CPNG Coupang, Inc. $27.4B — (loss-making) — (loss-making) +7.50% (above 0%: growing) n/m −116.29% (below 0%: shrinking) 25.71% (4.52%) Compare
W Wayfair Inc. $15.3B — (loss-making) — (loss-making) +7.52% (above 0%: growing) n/m +28.46% (above 0%: growing) 29.95% 2.96% Compare
Median of peers $47.8B 23.8× 21.8× +13.89% −0.65% +13.02% 41.91% 7.82%

All 42 Internet Retail stocks →

Analyst rating changes each firm’s latest, last six months

Firm Date Action Rating Target
Citi Nov 1, 2026 Target cut — 2,050.00

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 77.24%
Held by the ten largest 37.77%
Holder Shares Stake Change
Capital Group 6.88m 13.57% +127.76k
Baillie Gifford 3.04m 6.00% −192.85k
Morgan Stanley 1.50m 2.95% −88.93k
Invesco 1.47m 2.90% +5.30k
EAGLE CAPITAL MANAGEMENT LLC 1.41m 2.78% +621.02k
BlackRock 1.32m 2.61% −43.85k
T. Rowe Price 1.15m 2.26% −90.95k
GFS Advisors, LLC 954.18k 1.88% +953.95k
UBS 771.89k 1.52% +15.82k
Schroders 657.75k 1.30% −39.33k
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 23 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 13.14m 13.14m 120.00
2024 13.75m 13.75m 102.00
2023 9.59m 9.59m 94.00
2022 8.27m 8.27m 51.00
2021 16.68m 16.68m 80.00

Ownership

Directors and executive officers, together less than 1%
Baillie Gifford & Co. 7.46%
Galperin Trust 7.00%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

MercadoLibre, Inc. (MELI) Latest News

4 Nov

Impact 3 · · Business Wire
Impact 3 · · The Motley Fool
Impact 3 · · StockStory
Impact 3 · · Investing.com
Impact 3 · · TIKR

1 Nov

Impact 3 · · TIKR

31 Oct

Impact 3 · · TIKR

29 Oct

Impact 3 · · Insider Monkey
Impact 3 · · Business Wire
Impact 3 · · Zacks

28 Oct

Impact 4 · · Business Wire
Impact 3 · · Simply Wall St.
Impact 3 · · Zacks

27 Oct

Impact 4 · · 24/7 Wall St.
Impact 3 · · Simply Wall St.
Impact 3 · · Trefis
Impact 3 · · The Motley Fool
Impact 3 · · Stocktwits

26 Oct

Impact 4 · · Simply Wall St.
Impact 4 · · TheStreet
Impact 4 · · Zacks
Impact 3 · · StockStory

22 Oct

Impact 3 · · Zacks

21 Oct

Impact 3 · · Zacks

20 Oct

Impact 4 · · Simply Wall St.

19 Oct

Impact 4 · · The Motley Fool
Impact 4 · · TIKR

16 Oct

Impact 3 · · Zacks
Impact 3 · · Zacks

15 Oct

Impact 4 · · The Motley Fool

MELI metrics, ten years each

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