Comprehensive Stock Comparison
Compare JD.com, Inc. (JD) vs MercadoLibre, Inc. (MELI) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | MELI | 39.1% revenue growth vs JD's 6.8% |
| Value | JD | Lower P/E (1.3x vs 30.8x) |
| Quality / Margins | MELI | 6.9% net margin vs JD's 2.5% |
| Stability / Safety | JD | Beta 0.84 vs MELI's 0.88, lower leverage |
| Dividends | JD | 3.0% yield; 1-year raise streak; MELI pays no meaningful dividend |
| Momentum (1Y) | MELI | -17.2% vs JD's -34.3% |
| Efficiency (ROA) | MELI | 4.7% ROA vs JD's 4.5%, ROIC 20.8% vs 9.9% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Defensive / Recession hedge
Business Model
What each company does and how it makes money
JD.com is China's largest direct online retailer that operates an integrated supply chain and logistics network. It generates revenue primarily from direct online retail sales of electronics and general merchandise (~90% of revenue), complemented by marketplace commissions, logistics services, and advertising. Its key competitive advantage is its proprietary nationwide logistics infrastructure—including warehouses, delivery stations, and last-mile delivery—which enables fast, reliable fulfillment across China.
MercadoLibre is the dominant e-commerce and fintech platform across Latin America, operating online marketplaces and financial services. It generates revenue primarily from marketplace commissions and advertising fees (roughly 60%) and fintech services including payments, credit, and digital wallets (roughly 40%). The company's moat comes from its integrated ecosystem—combining e-commerce, payments, logistics, and credit—which creates powerful network effects and high switching costs across Latin America's fragmented markets.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
MELI leads in 3 of 6 categories (Financial Metrics, Profitability & Efficiency). JD leads in 2 (Valuation Metrics, Analyst Outlook). 1 tied.
Financial Metrics (TTM)
JD is the larger business by revenue, generating $1.30T annually — 45.1x MELI's $28.9B. Profitability is closely matched — net margins range from 6.9% (MELI) to 2.5% (JD). On growth, MELI holds the edge at +44.6% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | JDJD.com, Inc. | MELIMercadoLibre, Inc. |
|---|---|---|
| RevenueTrailing 12 months | $1.30T | $28.9B |
| EBITDAEarnings before interest/tax | $23.8B | $4.0B |
| Net IncomeAfter-tax profit | $32.2B | $2.0B |
| Free Cash FlowCash after capex | $9.1B | $10.1B |
| Gross MarginGross profit ÷ Revenue | +12.7% | +44.5% |
| Operating MarginEBIT ÷ Revenue | +1.3% | +11.1% |
| Net MarginNet income ÷ Revenue | +2.5% | +6.9% |
| FCF MarginFCF ÷ Revenue | +0.7% | +35.0% |
| Rev. Growth (YoY)Latest quarter vs prior year | +14.9% | +44.6% |
| EPS Growth (YoY)Latest quarter vs prior year | -56.3% | -12.5% |
Valuation Metrics
At 6.8x trailing earnings, JD trades at a 85% valuation discount to MELI's 44.6x P/E. On an enterprise value basis, JD's 0.8x EV/EBITDA is more attractive than MELI's 24.1x.
| Metric | JDJD.com, Inc. | MELIMercadoLibre, Inc. |
|---|---|---|
| Market CapShares × price | $8.4B | $89.1B |
| Enterprise ValueMkt cap + debt − cash | $5.7B | $96.8B |
| Trailing P/EPrice ÷ TTM EPS | 6.77x | 44.62x |
| Forward P/EPrice ÷ next-FY EPS est. | 1.26x | 30.76x |
| PEG RatioP/E ÷ EPS growth rate | 0.25x | — |
| EV / EBITDAEnterprise value multiple | 0.84x | 24.09x |
| Price / SalesMarket cap ÷ Revenue | 0.05x | 3.08x |
| Price / BookPrice ÷ Book value/share | 0.89x | 13.20x |
| Price / FCFMarket cap ÷ FCF | 1.30x | 8.27x |
Profitability & Efficiency
MELI delivers a 29.6% return on equity — every $100 of shareholder capital generates $30 in annual profit, vs $11 for JD. JD carries lower financial leverage with a 0.29x debt-to-equity ratio, signaling a more conservative balance sheet compared to MELI's 1.69x. On the Piotroski fundamental quality scale (0–9), JD scores 6/9 vs MELI's 5/9, reflecting solid financial health.
| Metric | JDJD.com, Inc. | MELIMercadoLibre, Inc. |
|---|---|---|
| ROE (TTM)Return on equity | +10.6% | +29.6% |
| ROA (TTM)Return on assets | +4.5% | +4.7% |
| ROICReturn on invested capital | +9.9% | +20.8% |
| ROCEReturn on capital employed | +10.2% | +28.3% |
| Piotroski ScoreFundamental quality 0–9 | 6 | 5 |
| Debt / EquityFinancial leverage | 0.29x | 1.69x |
| Net DebtTotal debt minus cash | -$18.6B | $7.7B |
| Cash & Equiv.Liquid assets | $108.3B | $3.7B |
| Total DebtShort + long-term debt | $89.8B | $11.4B |
| Interest CoverageEBIT ÷ Interest expense | 17.17x | — |
Total Returns (with DRIP)
A $10,000 investment in MELI five years ago would be worth $10,259 today (with dividends reinvested), compared to $3,076 for JD. Over the past 12 months, MELI leads with a -17.2% total return vs JD's -34.3%. The 3-year compound annual growth rate (CAGR) favors MELI at 12.9% vs JD's -13.4% — a key indicator of consistent wealth creation.
| Metric | JDJD.com, Inc. | MELIMercadoLibre, Inc. |
|---|---|---|
| YTD ReturnYear-to-date | -10.2% | -10.9% |
| 1-Year ReturnPast 12 months | -34.3% | -17.2% |
| 3-Year ReturnCumulative with dividends | -35.0% | +44.1% |
| 5-Year ReturnCumulative with dividends | -69.2% | +2.6% |
| 10-Year ReturnCumulative with dividends | +17.3% | +1628.4% |
| CAGR (3Y)Annualised 3-year return | -13.4% | +12.9% |
Risk & Volatility
JD is the less volatile stock with a 0.84 beta — it tends to amplify market swings less than MELI's 0.88 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. MELI currently trades 66.4% from its 52-week high vs JD's 57.1% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | JDJD.com, Inc. | MELIMercadoLibre, Inc. |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.84x | 0.88x |
| 52-Week HighHighest price in past year | $46.45 | $2645.22 |
| 52-Week LowLowest price in past year | $26.40 | $1665.00 |
| % of 52W HighCurrent price vs 52-week peak | +57.1% | +66.4% |
| RSI (14)Momentum oscillator 0–100 | 36.7 | 28.7 |
| Avg Volume (50D)Average daily shares traded | 8.0M | 418K |
Analyst Outlook
Wall Street rates JD as "Buy" and MELI as "Buy". Consensus price targets imply 59.9% upside for MELI (target: $2810) vs 39.5% for JD (target: $37). JD is the only dividend payer here at 2.95% yield — a key consideration for income-focused portfolios.
| Metric | JDJD.com, Inc. | MELIMercadoLibre, Inc. |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $37.00 | $2810.00 |
| # AnalystsCovering analysts | 44 | 33 |
| Dividend YieldAnnual dividend ÷ price | +3.0% | — |
| Dividend StreakConsecutive years of raises | 1 | 0 |
| Dividend / ShareAnnual DPS | $5.37 | — |
| Buyback YieldShare repurchases ÷ mkt cap | +45.0% | +0.0% |
Historical Charts
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Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Mar 20 | Feb 26 | Change |
|---|---|---|---|
| JD.com, Inc. (JD) | 100 | 65.89 | -34.1% |
| MercadoLibre, Inc. (MELI) | 100 | 334.4 | +234.4% |
MercadoLibre, Inc. (MELI) returned +3% over 5 years vs JD.com, Inc. (JD)'s -69%. A $10,000 investment in MELI 5 years ago would be worth $10,259 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| JD.com, Inc. (JD) | $260.1B | $1.2T | +345.5% |
| MercadoLibre, Inc. (MELI) | $844M | $28.9B | +3321.7% |
MercadoLibre, Inc.'s revenue grew from $844M (2016) to $28.9B (2025) — a 48.1% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| JD.com, Inc. (JD) | -0.8% | 3.6% | +564.1% |
| MercadoLibre, Inc. (MELI) | 16.1% | 6.9% | -57.2% |
MercadoLibre, Inc.'s net margin went from 16% (2016) to 7% (2025).
Chart 4P/E Ratio History — 6 Years
| Stock | 2019 | 2025 | Change |
|---|---|---|---|
| JD.com, Inc. (JD) | 4.3 | 1.3 | -69.8% |
| MercadoLibre, Inc. (MELI) | 88.8 | 51.1 | -42.5% |
JD.com, Inc. has traded in a 1x–9x P/E range over 5 years; current trailing P/E is ~7x. MercadoLibre, Inc. has traded in a 45x–89x P/E range over 4 years; current trailing P/E is ~45x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| JD.com, Inc. (JD) | -2.4 | 26.9 | +1220.8% |
| MercadoLibre, Inc. (MELI) | 3.09 | 39.39 | +1174.8% |
MercadoLibre, Inc.'s EPS grew from $3.09 (2016) to $39.39 (2025) — a 33% CAGR.
Chart 6Free Cash Flow — 5 Years
JD.com, Inc. generated $44B FCF in 2024 (+87% vs 2021). MercadoLibre, Inc. generated $11B FCF in 2025 (+2930% vs 2021).
JD vs MELI: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is JD or MELI a better buy right now?
JD.com, Inc. (JD) offers the better valuation at 6.8x trailing P/E (1.3x forward), making it the more compelling value choice. Analysts rate JD.com, Inc. (JD) a "Buy" — based on 44 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 — JD or MELI?
On trailing P/E, JD.com, Inc. (JD) is the cheapest at 6.8x versus MercadoLibre, Inc. at 44.6x. On forward P/E, JD.com, Inc. is actually cheaper at 1.3x.
03Which is the better long-term investment — JD or MELI?
Over the past 5 years, MercadoLibre, Inc. (MELI) delivered a total return of +2.6%, compared to -69.2% for JD.com, Inc. (JD). A $10,000 investment in MELI five years ago would be worth approximately $10K today (assuming dividends reinvested). Over 10 years, the gap is even starker: MELI returned +1628% versus JD's +17.3%. 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 — JD or MELI?
By beta (market sensitivity over 5 years), JD.com, Inc. (JD) is the lower-risk stock at 0.84β versus MercadoLibre, Inc.'s 0.88β — meaning MELI is approximately 5% more volatile than JD relative to the S&P 500. On balance sheet safety, JD.com, Inc. (JD) carries a lower debt/equity ratio of 29% versus 169% for MercadoLibre, Inc. — giving it more financial flexibility in a downturn.
05Which has better profit margins — JD or MELI?
MercadoLibre, Inc. (MELI) is the more profitable company, earning 6.9% net margin versus 3.6% for JD.com, Inc. — meaning it keeps 6.9% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: MELI leads at 11.1% versus 3.3% for JD. At the gross margin level — before operating expenses — MELI leads at 44.5%, 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.
06Is JD or MELI more undervalued right now?
On forward earnings alone, JD.com, Inc. (JD) trades at 1.3x forward P/E versus 30.8x for MercadoLibre, Inc. — 29.5x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for MELI: 59.9% to $2810.00.
07Which pays a better dividend — JD or MELI?
In this comparison, JD (3.0% yield) pays a dividend. MELI does not pay a meaningful dividend and should not be held primarily for income.
08Is JD or MELI better for a retirement portfolio?
For long-horizon retirement investors, MercadoLibre, Inc. (MELI) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.88), +1628% 10Y return). Both have compounded well over 10 years (MELI: +1628%, JD: +17.3%), 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.
09What are the main differences between JD and MELI?
Both stocks operate in the Consumer Cyclical sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. In terms of investment character: JD is a small-cap deep-value stock; MELI is a mid-cap quality compounder stock. JD pays a dividend while MELI does not, making them suitable for different income and tax situations. 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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