DLO
DLocal Limited
Software - Infrastructure
Market Cap$2.32B
5Y Perf.-73.3%
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Stock Comparison
DLO vs PAYO
Revenue, margins, valuation, and 5-year total return — side by side.
PAYO
Payoneer Global Inc.
Software - Infrastructure
Market Cap$1.68B
5Y Perf.-53.1%
DLO vs PAYO — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | DLO | PAYO |
|---|---|---|
| Industry | Software - Infrastructure | Software - Infrastructure |
| Market Cap | $2.32B | $1.68B |
| Revenue (TTM) | $960M | $1.05B |
| Net Income (TTM) | $171M | $73M |
| Gross Margin | 38.6% | 82.4% |
| Operating Margin | 20.8% | 11.8% |
| Forward P/E | 16.5x | 19.6x |
| Total Debt | $54M | $72M |
| Cash & Equiv. | $189M | $416M |
DLO vs PAYO — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
DLO
PAYO
| Stock | Jun 21 | May 26 | Return |
|---|---|---|---|
| DLocal Limited (DLO) | 100 | 26.7 | -73.3% |
| Payoneer Global Inc. (PAYO) | 100 | 46.9 | -53.1% |
Price return only. Dividends and distributions are not included.
Quick Verdict: DLO vs PAYO
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: DLO leads in 5 of 7 categories, making it the strongest pick for growth and revenue expansion and valuation and capital efficiency. Payoneer Global Inc. is the stronger pick specifically for capital preservation and lower volatility. As sector peers, any of these can serve as alternatives in the same allocation.
DLO
DLocal Limited
The Growth Play
DLO carries the broadest edge in this set and is the clearest fit for growth exposure.
- Rev growth 14.7%, EPS growth -20.4%, 3Y rev CAGR 45.1%
- 14.7% revenue growth vs PAYO's 7.7%
- Lower P/E (16.5x vs 19.6x)
Best for: growth exposure
PAYO
Payoneer Global Inc.
The Income Pick
PAYO is the clearest fit if your priority is income & stability and long-term compounding.
- beta 1.65
- -49.8% 10Y total return vs DLO's -55.1%
- Lower volatility, beta 1.65, Low D/E 10.3%, current ratio 1.00x
Best for: income & stability and long-term compounding
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | DLO | 14.7% revenue growth vs PAYO's 7.7% |
| Value | DLO | Lower P/E (16.5x vs 19.6x) |
| Quality / Margins | DLO | 17.8% margin vs PAYO's 7.0% |
| Stability / Safety | PAYO | Beta 1.65 vs DLO's 1.74, lower leverage |
| Dividends | Tie | Neither stock pays a meaningful dividend |
| Momentum (1Y) | DLO | +65.4% vs PAYO's -31.8% |
| Efficiency (ROA) | DLO | 13.6% ROA vs PAYO's 0.9%, ROIC 35.7% vs 30.7% |
DLO vs PAYO — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLDLOLAGGINGPAYO
PAYOPayoneer Global Inc.
1leads
DLODLocal Limited
3leads
6 Total Categories
CATEGORYLEADERvs PAYOMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
DLO4/6
Valuation MetricsMultiples, price ratios, and targets
PAYO4/5
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
DLO5/9
Total Returns1Y, 3Y, 5Y total returns with dividends
DLO4/6
Risk & VolatilityBeta, volatility, and downside exposure
Tied
—
Analyst OutlookRatings, price targets, and dividends
—
—
Income & Cash Flow (Last 12 Months)
DLO leads this category, winning 4 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
PAYO and DLO operate at a comparable scale, with $1.1B and $960M in trailing revenue. DLO is the more profitable business, keeping 17.8% of every revenue dollar as net income compared to PAYO's 7.0%. On growth, DLO holds the edge at +52.1% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | DLODLocal Limited | PAYOPayoneer Global I… |
|---|---|---|
| RevenueTrailing 12 months | $960M | $1.1B |
| EBITDAEarnings before interest/tax | $223M | $190M |
| Net IncomeAfter-tax profit | $171M | $73M |
| Free Cash FlowCash after capex | $152M | $207M |
| Gross MarginGross profit ÷ Revenue | +38.6% | +82.4% |
| Operating MarginEBIT ÷ Revenue | +20.8% | +11.8% |
| Net MarginNet income ÷ Revenue | +17.8% | +7.0% |
| FCF MarginFCF ÷ Revenue | +15.8% | +19.6% |
| Rev. Growth (YoY)Latest quarter vs prior year | +52.1% | +4.9% |
| EPS Growth (YoY)Latest quarter vs prior year | +88.1% | +8.9% |
DLO leads this category, winning 4 of 6 comparable metrics.
Valuation Metrics
PAYO leads this category, winning 4 of 5 comparable metrics.
Valuation Metrics
At 25.6x trailing earnings, PAYO trades at a 29% valuation discount to DLO's 36.0x P/E. On an enterprise value basis, PAYO's 7.0x EV/EBITDA is more attractive than DLO's 13.9x.
| Metric | DLODLocal Limited | PAYOPayoneer Global I… |
|---|---|---|
| Market CapShares × price | $2.3B | $1.7B |
| Enterprise ValueMkt cap + debt − cash | $2.2B | $1.3B |
| Trailing P/EPrice ÷ TTM EPS | 35.97x | 25.58x |
| Forward P/EPrice ÷ next-FY EPS est. | 16.51x | 19.61x |
| PEG RatioP/E ÷ EPS growth rate | 0.74x | — |
| EV / EBITDAEnterprise value multiple | 13.87x | 7.00x |
| Price / SalesMarket cap ÷ Revenue | 3.12x | 1.59x |
| Price / BookPrice ÷ Book value/share | 8.76x | 2.60x |
| Price / FCFMarket cap ÷ FCF | — | 8.11x |
PAYO leads this category, winning 4 of 5 comparable metrics.
Profitability & Efficiency
DLO leads this category, winning 5 of 9 comparable metrics.
Profitability & Efficiency
DLO delivers a 34.4% return on equity — every $100 of shareholder capital generates $34 in annual profit, vs $10 for PAYO. PAYO carries lower financial leverage with a 0.10x debt-to-equity ratio, signaling a more conservative balance sheet compared to DLO's 0.11x. On the Piotroski fundamental quality scale (0–9), PAYO scores 5/9 vs DLO's 2/9, reflecting solid financial health.
| Metric | DLODLocal Limited | PAYOPayoneer Global I… |
|---|---|---|
| ROE (TTM)Return on equity | +34.4% | +9.8% |
| ROA (TTM)Return on assets | +13.6% | +0.9% |
| ROICReturn on invested capital | +35.7% | +30.7% |
| ROCEReturn on capital employed | +29.5% | +14.9% |
| Piotroski ScoreFundamental quality 0–9 | 2 | 5 |
| Debt / EquityFinancial leverage | 0.11x | 0.10x |
| Net DebtTotal debt minus cash | -$135M | -$343M |
| Cash & Equiv.Liquid assets | $189M | $416M |
| Total DebtShort + long-term debt | $54M | $72M |
| Interest CoverageEBIT ÷ Interest expense | 5.06x | 20.06x |
DLO leads this category, winning 5 of 9 comparable metrics.
Total Returns (Dividends Reinvested)
DLO leads this category, winning 4 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in PAYO five years ago would be worth $4,821 today (with dividends reinvested), compared to $4,489 for DLO. Over the past 12 months, DLO leads with a +65.4% total return vs PAYO's -31.8%. The 3-year compound annual growth rate (CAGR) favors DLO at 0.1% vs PAYO's -4.4% — a key indicator of consistent wealth creation.
| Metric | DLODLocal Limited | PAYOPayoneer Global I… |
|---|---|---|
| YTD ReturnYear-to-date | -0.3% | -10.7% |
| 1-Year ReturnPast 12 months | +65.4% | -31.8% |
| 3-Year ReturnCumulative with dividends | +0.3% | -12.6% |
| 5-Year ReturnCumulative with dividends | -55.1% | -51.8% |
| 10-Year ReturnCumulative with dividends | -55.1% | -49.8% |
| CAGR (3Y)Annualised 3-year return | +0.1% | -4.4% |
DLO leads this category, winning 4 of 6 comparable metrics.
Risk & Volatility
Evenly matched — DLO and PAYO each lead in 1 of 2 comparable metrics.
Risk & Volatility
PAYO is the less volatile stock with a 1.65 beta — it tends to amplify market swings less than DLO's 1.74 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. DLO currently trades 83.6% from its 52-week high vs PAYO's 63.4% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | DLODLocal Limited | PAYOPayoneer Global I… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.74x | 1.65x |
| 52-Week HighHighest price in past year | $16.78 | $7.67 |
| 52-Week LowLowest price in past year | $8.67 | $4.08 |
| % of 52W HighCurrent price vs 52-week peak | +83.6% | +63.4% |
| RSI (14)Momentum oscillator 0–100 | 57.5 | 46.9 |
| Avg Volume (50D)Average daily shares traded | 1.5M | 3.4M |
Evenly matched — DLO and PAYO each lead in 1 of 2 comparable metrics.
Analyst Outlook
Insufficient data to determine a leader in this category.
Analyst Outlook
Wall Street rates DLO as "Buy" and PAYO as "Buy". Consensus price targets imply 54.3% upside for PAYO (target: $8) vs 21.2% for DLO (target: $17).
| Metric | DLODLocal Limited | PAYOPayoneer Global I… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $17.00 | $7.50 |
| # AnalystsCovering analysts | 13 | 10 |
| Dividend YieldAnnual dividend ÷ price | — | — |
| Dividend StreakConsecutive years of raises | 2 | — |
| Dividend / ShareAnnual DPS | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | +4.3% | +10.4% |
Insufficient data to determine a leader in this category.
Key Takeaway
DLO leads in 3 of 6 categories (Income & Cash Flow, Profitability & Efficiency). PAYO leads in 1 (Valuation Metrics). 1 tied.
Best OverallDLocal Limited (DLO)Leads 3 of 6 categories
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DLO vs PAYO: Frequently Asked Questions
10 questions · data-driven answers · updated daily
01Is DLO or PAYO a better buy right now?
For growth investors, DLocal Limited (DLO) is the stronger pick with 14.
7% revenue growth year-over-year, versus 7. 7% for Payoneer Global Inc. (PAYO). Payoneer Global Inc. (PAYO) offers the better valuation at 25. 6x trailing P/E (19. 6x forward), making it the more compelling value choice. Analysts rate DLocal Limited (DLO) a "Buy" — based on 13 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — DLO or PAYO?
On trailing P/E, Payoneer Global Inc.
(PAYO) is the cheapest at 25. 6x versus DLocal Limited at 36. 0x. On forward P/E, DLocal Limited is actually cheaper at 16. 5x — notably different from the trailing picture, reflecting expected earnings growth.
03Which is the better long-term investment — DLO or PAYO?
Over the past 5 years, Payoneer Global Inc.
(PAYO) delivered a total return of -51. 8%, compared to -55. 1% for DLocal Limited (DLO). Over 10 years, the gap is even starker: PAYO returned -49. 8% versus DLO's -55. 1%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — DLO or PAYO?
By beta (market sensitivity over 5 years), Payoneer Global Inc.
(PAYO) is the lower-risk stock at 1. 65β versus DLocal Limited's 1. 74β — meaning DLO is approximately 5% more volatile than PAYO relative to the S&P 500. On balance sheet safety, Payoneer Global Inc. (PAYO) carries a lower debt/equity ratio of 10% versus 11% for DLocal Limited — giving it more financial flexibility in a downturn.
05Which is growing faster — DLO or PAYO?
By revenue growth (latest reported year), DLocal Limited (DLO) is pulling ahead at 14.
7% versus 7. 7% for Payoneer Global Inc. (PAYO). On earnings-per-share growth, the picture is similar: DLocal Limited grew EPS -20. 4% year-over-year, compared to -38. 7% for Payoneer Global Inc.. Over a 3-year CAGR, DLO leads at 45. 1% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — DLO or PAYO?
DLocal Limited (DLO) is the more profitable company, earning 16.
1% net margin versus 7. 0% for Payoneer Global Inc. — meaning it keeps 16. 1% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: DLO leads at 18. 8% versus 11. 8% for PAYO. At the gross margin level — before operating expenses — PAYO leads at 78. 1%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is DLO or PAYO more undervalued right now?
On forward earnings alone, DLocal Limited (DLO) trades at 16.
5x forward P/E versus 19. 6x for Payoneer Global Inc. — 3. 1x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for PAYO: 54. 3% to $7. 50.
08Which pays a better dividend — DLO or PAYO?
None of the stocks in this comparison currently pay a material dividend.
All are effectively zero-yield and should be held for capital appreciation rather than income.
09Is DLO or PAYO better for a retirement portfolio?
For long-horizon retirement investors, Payoneer Global Inc.
(PAYO) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding. DLocal Limited (DLO) carries a higher beta of 1. 74 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (PAYO: -49. 8%, DLO: -55. 1%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between DLO and PAYO?
Both stocks operate in the Technology sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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Revenue Growth>
%
(DLO: 52.1% · PAYO: 4.9%)Net Margin>
%
(DLO: 17.8% · PAYO: 7.0%)P/E Ratio<
x
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