Wednesday 4 November 2026 Export MELI’s income statement to Excel — free account

MercadoLibre, Inc.

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%

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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 Segments Valuation Filings

MercadoLibre, Inc. (MELI) revenue by segment, product and region

Where the money comes from and where it goes

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 product or service $m

Line	FY2020	FY2019	FY2018	FY2017	FY2016
Commerce	—	1,346 58.64%	839 58.25%	—	—
Fintech	—	950 41.36%	601 41.75%	—	—
Marketplace	—	—	—	737 60.62%	548 64.92%
Nonmarketplace	—	—	—	479 39.38%	296 35.08%
Also reported: a second breakdown of the same revenue
Net service revenues and financial income	3,690 92.85%	2,266 98.67%	—	—	—
Net product revenues	284 7.15%	31 1.33%	—	—	—
Revenue	3,974	2,296	1,440	1,217	844

Revenue by segment $m

Line	FY2020	FY2019	FY2018	FY2017	FY2016
Brazil	2,194 55.21%	1,462 63.65%	866 60.17%	691 56.78%	455 53.89%
Argentina	980 24.66%	456 19.87%	377 26.16%	359 29.54%	262 31.06%
Mexico	575 14.47%	275 11.98%	109 7.58%	51 4.22%	46 5.49%
Other countries	225 5.66%	—	—	—	—
Other Countries	225 5.66%	103 4.50%	88 6.10%	61 4.99%	44 5.16%
Venezuela	—	—	—	54 4.47%	37 4.40%
Eliminations	(225) (5.66%)	—	—	—	—
Revenue	3,974	2,296	1,440	1,217	844

Operating figures as reported in each quarter’s results release or filing

Figure	Quarter	Latest	A year before	Change
15-90 day NPL	Q3 FY2026	7.00%	6.80%	—
Acquiring total payment volume	Q3 FY2026	$68.3B	$47.7B	+43.11%
Credit cards issued	Q2 FY2026	2.6M	—	—
Credit portfolio	Q3 FY2026	$18.0B	$11.0B	+63.64%
Fintech monthly active users	Q3 FY2026	93.0M	72.0M	+29.17%
Fulfillment penetration	Q1 FY2026	55.0%	—	—
Gross merchandise volume	Q3 FY2026	$22.8B	$16.5B	+37.93%
Number of items sold	Q3 FY2026	867.0M	635.0M	+36.54%
Total MELI AUM	Q2 FY2026	$23.0B	—	—
Total payment transactions	Q3 FY2026	5.7B	—	—
Total payment volume	Q3 FY2026	$108.8B	$71.2B	+52.76%
Unique active buyers	Q3 FY2026	94.0M	77.0M	+22.08%

	Q3 FY2026	Q2 FY2026	Q1 FY2026	Q4 FY2025	Q3 FY2025	Q2 FY2025	Q1 FY2025	Q4 FY2024	Q3 FY2024	Q2 FY2024	Q1 FY2024	Q4 FY2023	Q3 FY2023
15-90 day NPL	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Acquiring total payment volume	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Credit cards issued	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Credit portfolio	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Fintech monthly active users	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Fulfillment penetration	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Gross merchandise volume	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Number of items sold	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Total MELI AUM	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Total payment transactions	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Total payment volume	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Unique active buyers	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡

As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.