DLocal Limited(DLO)Earnings, Financials & Key Ratios

DLO•NASDAQ

$14.03

$2.32B mkt cap·36.0× P/E·Price updated May 6, 2026

SectorTechnology IndustryInfrastructure Software Sub-IndustryPayments and fintech infrastructure

AboutDLocal Limited operates a payments platform in the United States, Europe, China, and internationally. Its payments platform enables merchants to get paid and to make payments online. The company serves commerce, streaming, ride-hailing, financial services, advertising, software as a service, travel, e-learning, on-demand delivery, gaming, and crypto industries. DLocal Limited was founded in 2016 and is headquartered in Montevideo, Uruguay.Show more

Revenue$746M+14.7%
EBITDA$158M-17.7%
Net Income$120M-19.2%
EPS (Diluted)0.39-20.4%
Gross Margin39.5%-7.2%
EBITDA Margin21.17%-28.3%
Operating Margin18.83%-31.8%
Net Margin16.14%-29.5%
ROE25.51%-26.8%
ROIC35.68%-83.0%
Debt/Equity0.11+1180.9%
Interest Coverage2.83+39.8%

Technical→

DLO Key Insights

DLocal Limited (DLO) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

✓Excellent 3Y average ROE of 30.8%
✓Strong 5Y profit CAGR of 50.5%
✓Strong 5Y sales CAGR of 68.3%
✓Healthy 5Y average net margin of 24.8%

✗Weaknesses

✗Weak Piotroski F-Score: 2/9
✗Negative free cash flow

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

DLO Price & Volume

DLocal Limited (DLO) stock price & volume — 10-year historical chart

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DLO Growth Metrics

DLocal Limited (DLO) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-

5 Years68.27%

3 Years45.11%

TTM31.63%

Profit CAGR

10 Years-

5 Years50.49%

3 Years15.64%

TTM43.35%

EPS CAGR

10 Years-

5 Years48.89%

3 Years14.47%

TTM41.59%

Return on Capital

10 Years53.06%

5 Years49.48%

3 Years36.09%

Last Year29.49%

DLO Recent Earnings

DLocal Limited (DLO) EPS & revenue vs analyst estimates — last 4 quarters

Full history →

●Beat EPS 7/12 qtrs (58%)●Beat Revenue 5/12 qtrs (42%)

Q2 2026Latest

Mar 18, 2026

EPS

$0.22

Est $0.18

+22.2%

Revenue

$338M

Est $296M

+14.0%

Q4 2025

Nov 12, 2025

EPS

$0.17

Est $0.17

+2.8%

Revenue

$282M

Est $262M

+7.8%

Q3 2025

Aug 13, 2025

EPS

$0.14

Est $0.13

+7.7%

Revenue

$256M

Est $240M

+6.7%

Q2 2025

May 14, 2025

EPS

$0.15

Est $0.12

+25.0%

Revenue

$217M

Est $210M

+3.3%

Quarter	Date	EPS (Act vs Est)	Revenue (Act vs Est)
Q2 2026Latest	Mar 18, 2026	$0.22vs $0.18+22.2%	$338Mvs $296M+14.0%
Q4 2025	Nov 12, 2025	$0.17vs $0.17+2.8%	$282Mvs $262M+7.8%
Q3 2025	Aug 13, 2025	$0.14vs $0.13+7.7%	$256Mvs $240M+6.7%
Q2 2025	May 14, 2025	$0.15vs $0.12+25.0%	$217Mvs $210M+3.3%

Based on last 12 quarters of dataView full earnings history →

Company	Market Cap	Stock Price	P/E Ratio (TTM)	Revenue Growth 1Y	Net Margin	Return on Equity (ROE)	Debt / Equity
FLYWFlywire CorporationDirect Competitor	2.09B	17.51	159.18	26.59%	6.65%	5.87%
RELYRemitly Global, Inc.Direct Competitor	5B	23.73	76.55	29.37%	6.12%	12.66%	0.25
PAYOPayoneer Global Inc.Direct Competitor	1.68B	4.86	25.58	7.68%	6.95%	9.84%	0.10
EVTCEVERTEC, Inc.Direct Competitor	1.74B	28.16	12.80	10.21%	9.6%	11.07%	1.58
WEXWEX Inc.Product Competitor	4.99B	144.00	17.00	1.24%	11.5%	26.96%	3.94
RPAYRepay Holdings CorporationProduct Competitor	303.9M	3.45	-1.15	-1.21%	-82.73%	-46.64%	0.91
FOURShift4 Payments, Inc.Product Competitor	3.93B	42.90	14.16	29.86%	5.02%	8.73%	2.83
PAGSPagSeguro Digital Ltd.Product Competitor	1.78B	10.41	7.39	5.57%	10.72%	14.4%	2.38

Compare DLO vs Peers

DLocal Limited (DLO) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

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Most directly comparable listed peer for DLO.

Scale Benchmark

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Larger-name benchmark to compare DLO against a more recognizable public peer.

Peer Set

Compare Top 5

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DLO Income Statement

DLocal Limited (DLO) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily

Line item	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	TTM
Sales/Revenue	55.29M	104.14M	244.12M	418.93M	650.35M	745.97M	960.19M
Revenue Growth %	-	88.36%	134.41%	71.61%	55.24%	14.7%	31.63%
Cost of Goods Sold	19.41M	44.06M	113.68M	216.76M	373.49M	451.3M	589.53M
COGS % of Revenue	35.11%	42.31%	46.57%	51.74%	57.43%	60.5%	-
Gross Profit	35.88M▲ 0%	60.08M▲ 67.5%	130.44M▲ 117.1%	202.17M▲ 55.0%	276.86M▲ 36.9%	294.67M▲ 6.4%	370.66M▲ 0%
Gross Margin %	64.89%	57.69%	53.43%	48.26%	42.57%	39.5%	38.6%
Gross Profit Growth %	-	67.46%	117.12%	54.98%	36.95%	6.43%	-
Operating Expenses	18.31M	29.13M	46.6M	74.26M	97.2M	154.17M	171.2M
OpEx % of Revenue	33.12%	27.97%	19.09%	17.73%	14.95%	20.67%	-
Selling, General & Admin	15.92M	24.7M	44.15M	50.46M	84.17M	99.16M	108.75M
SG&A % of Revenue	28.8%	23.72%	18.09%	12.05%	12.94%	13.29%	-
Research & Development	1.35M	2M	3.39M	6.35M	12.65M	25.63M	29.81M
R&D % of Revenue	2.44%	1.93%	1.39%	1.52%	1.95%	3.44%	-
Other Operating Expenses	1.04M	2.42M	-931K	17.45M	379K	29.39M	3.81M
Operating Income	17.56M▲ 0%	30.95M▲ 76.2%	83.84M▲ 170.9%	127.91M▲ 52.6%	179.66M▲ 40.5%	140.5M▼ 21.8%	199.47M▲ 0%
Operating Margin %	31.77%	29.71%	34.34%	30.53%	27.62%	18.83%	20.77%
Operating Income Growth %	-	76.18%	170.93%	52.57%	40.46%	-21.8%	-
EBITDA	17.97M	31.94M	88.58M	136.06M	191.88M	157.9M	223.33M
EBITDA Margin %	32.51%	30.67%	36.29%	32.48%	29.5%	21.17%	23.26%
EBITDA Growth %	-	77.69%	177.37%	53.59%	41.03%	-17.71%	47.11%
D&A (Non-Cash Add-back)	409K	992K	4.75M	8.15M	12.22M	17.39M	23.86M
EBIT	17.85M	31.44M	85.64M	120.46M	179.09M	151.52M	188.97M
Net Interest Income	187K	376K	2.01M	17.94M	-39.23M	-21.43M	8.48M
Interest Income	217K	443K	2.56M	18.11M	49.59M	28.27M	45.79M
Interest Expense	30K	67K	544K	177K	88.82M	49.7M	37.31M
Other Income/Expense	259K	473K	1.66M	-7.63M	-1.14M	10.52M	5.43M
Pretax Income	17.82M▲ 0%	31.42M▲ 76.3%	85.5M▲ 172.1%	120.28M▲ 40.7%	178.51M▲ 48.4%	151.02M▼ 15.4%	204.89M▲ 0%
Pretax Margin %	32.24%	30.17%	35.02%	28.71%	27.45%	20.24%	21.34%
Income Tax	2.22M	3.23M	7.65M	11.59M	29.43M	30.55M	33.93M
Effective Tax Rate %	12.46%	10.28%	8.94%	9.63%	16.48%	20.23%	16.56%
Net Income	15.6M▲ 0%	28.18M▲ 80.6%	77.88M▲ 176.3%	108.68M▲ 39.6%	148.96M▲ 37.1%	120.42M▼ 19.2%	170.95M▲ 0%
Net Margin %	28.22%	27.06%	31.9%	25.94%	22.91%	16.14%	17.8%
Net Income Growth %	-	80.64%	176.31%	39.56%	37.06%	-19.16%	43.35%
Net Income (Continuing)	15.6M	28.19M	77.85M	108.7M	149.09M	120.47M	170.97M
Discontinued Operations	0	0	0	0	0	0	0
Minority Interest	166K	-4K	-18K	-9K	109K	100K	134K
EPS (Diluted)	0.05▲ 0%	0.10▲ 80.5%	0.26▲ 170.3%	0.37▲ 42.3%	0.49▲ 32.4%	0.39▼ 20.4%	0.56▲ 0%
EPS Growth %	-	80.49%	170.27%	42.31%	32.43%	-20.41%	41.59%
EPS (Basic)	0.05	0.10	0.26	0.37	0.51	0.39	-
Diluted Shares Outstanding	292.92M	292.92M	295.03M	296.03M	302.96M	305.14M	304.85M
Basic Shares Outstanding	292.92M	292.92M	295.03M	296.03M	291.98M	308.76M	304.85M
Dividend Payout Ratio	64.09%	53.22%	-	-	-	-	-

DLO Balance Sheet

DLocal Limited (DLO) balance sheet — assets, liabilities & shareholders' equity

Line item	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	TTM
Total Current Assets	77.22M	194.85M	529.51M	767.83M	1.02B	1.07B	1.31B
Cash & Short-Term Investments	22.28M	52M	228.92M	513.2M	325.49M	329.97M	699.49M
Cash Only	6.88M	43.68M	227.91M	511.91M	222.81M	189.03M	604.47M
Short-Term Investments	15.4M	8.32M	1M	1.29M	102.68M	140.94M	95.03M
Accounts Receivable	24.44M	67.21M	178.88M	240.45M	319.46M	457.16M	576.39M
Days Sales Outstanding	161.36	235.56	267.45	209.5	179.29	223.69	189.9
Inventory	0	0	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-	-	-
Other Current Assets	29M	69.52M	109.06M	1.32M	327.17M	246.2M	31.16M
Total Non-Current Assets	2.38M	5.61M	53.5M	58.47M	68.42M	98.45M	101.72M
Property, Plant & Equipment	561K	1.1M	6.4M	6.67M	6.61M	7.02M	7.33M
Fixed Asset Turnover	98.55x	94.59x	38.14x	62.83x	98.45x	106.23x	125.76x
Goodwill	0	0	0	0	0	0	0
Intangible Assets	1.8M	4.15M	46.97M	51.44M	57.89M	63.32M	71.75M
Long-Term Investments	0	0	0	0	1.71M	4.7M	4.7M
Other Non-Current Assets	0	143K	0	0	0	18.04M	73.95M
Total Assets	79.6M▲ 0%	200.47M▲ 151.9%	583.01M▲ 190.8%	826.3M▲ 41.7%	1.08B▲ 31.2%	1.17B▲ 8.0%	1.41B▲ 0%
Asset Turnover	0.69x	0.52x	0.42x	0.51x	0.60x	0.64x	0.76x
Asset Growth %	-	151.86%	190.82%	41.73%	31.24%	8.01%	37.85%
Total Current Liabilities	54.85M	155.14M	298.4M	422.27M	625.23M	677.62M	897.75M
Accounts Payable	50.83M	136.73M	269.23M	395.13M	572.39M	562.75M	816.73M
Days Payables Outstanding	955.73	1.13K	864.45	665.37	559.38	455.14	415.55
Short-Term Debt	0	0	5.01M	686K	0	50.45M	0
Deferred Revenue (Current)	0	0	0	0	0	0	0
Other Current Liabilities	798K	4.29M	2.6M	18.93M	1.31M	6.73M	65.07M
Current Ratio	1.41x	1.26x	1.77x	1.82x	1.63x	1.58x	1.58x
Quick Ratio	1.41x	1.26x	1.77x	1.82x	1.63x	1.58x	1.58x
Cash Conversion Cycle	-	-	-	-	-	-	-225.65
Total Non-Current Liabilities	219K	276K	4.31M	4.41M	4.08M	4.72M	6.33M
Long-Term Debt	0	0	0	0	0	0	0
Capital Lease Obligations	219K	17K	3.43M	3.39M	3.33M	2.86M	10.95M
Deferred Tax Liabilities	0	259K	883K	1.02M	753K	1.86M	11.41M
Other Non-Current Liabilities	0	0	0	0	0	0	0
Total Liabilities	55.07M	155.42M	302.71M	426.68M	629.31M	682.34M	904.09M
Total Debt	399K	218K	8.94M	4.08M	3.96M	54.45M	3.71M
Net Debt	-6.48M	-43.47M	-218.97M	-507.83M	-218.85M	-134.57M	-600.75M
Debt / Equity	0.02x	0.00x	0.03x	0.01x	0.01x	0.11x	0.11x
Debt / EBITDA	0.02x	0.01x	0.10x	0.03x	0.02x	0.34x	0.02x
Net Debt / EBITDA	-0.36x	-1.36x	-2.47x	-3.73x	-1.14x	-0.85x	-0.85x
Interest Coverage	585.47x	461.87x	154.11x	722.66x	2.02x	2.83x	5.06x
Total Equity	24.53M▲ 0%	45.05M▲ 83.7%	280.3M▲ 522.2%	399.62M▲ 42.6%	455.14M▲ 13.9%	488.99M▲ 7.4%	504.67M▲ 0%
Equity Growth %	-	83.65%	522.23%	42.57%	13.89%	7.44%	33.53%
Book Value per Share	0.08	0.15	0.95	1.35	1.50	1.60	1.66
Total Shareholders' Equity	24.36M	45.05M	280.32M	399.63M	455.03M	488.89M	504.53M
Common Stock	602K	602K	590K	592K	591K	570K	588K
Retained Earnings	18.46M	31.75M	109.87M	219.99M	369.61M	490.02M	479.28M
Treasury Stock	0	0	0	0	-99.94M	-200.98M	0
Accumulated OCI	5.3M	12.7M	12.71M	14.74M	11.77M	12.5M	24.66M
Minority Interest	166K	-4K	-18K	-9K	109K	100K	134K

DLO Cash Flow Statement

DLocal Limited (DLO) cash flow — operating, investing & free cash flow history

Line item	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	TTM
Cash from Operations	30.72M	88.49M	108.49M	168.25M	293.45M	-32.78M	-32.78M
Operating CF Margin %	55.57%	84.97%	44.44%	40.16%	45.12%	-4.39%	-
Operating CF Growth %	-	188.01%	22.6%	55.09%	74.42%	-111.17%	281.56%
Net Income	17.82M	31.42M	85.5M	108.68M	178.51M	151.02M	170.95M
Depreciation & Amortization	409K	992K	4.75M	8.15M	12.22M	17.39M	23.86M
Stock-Based Compensation	5.05M	7.29M	7.59M	0	11.92M	23.78M	17.27M
Deferred Taxes	-1.06M	0	-12.69M	0	0	0	0
Other Non-Cash Items	-193K	-533K	-1.81M	30.64M	-13.51M	-57.76M	105M
Working Capital Changes	8.7M	49.31M	25.15M	20.78M	104.3M	-167.22M	-167.75M
Change in Receivables	-10.97M	-45.93M	-115.36M	-49.44M	-123.25M	-162.65M	-192.04M
Change in Inventory	-1.11M	0	115.36M	0	0	0	0
Change in Payables	20.28M	89.89M	134.29M	130.71M	194.62M	-6.96M	22.59M
Cash from Investing	118K	3.65M	-37.94M	-13.34M	-84.67M	-17.75M	-10.69M
Capital Expenditures	-1.71M	-876K	-48.02M	-12.35M	-965K	-1.71M	-2.11M
CapEx % of Revenue	3.09%	0.84%	19.67%	2.95%	0.15%	0.23%	-
Acquisitions	0	0	0	0	0	0	0
Investments	-	-	-	-	-	-	-
Other Investing	223K	-2.56M	2.56M	-665K	32.33M	7.32M	28.27M
Cash from Financing	-19.34M	-15.2M	153.75M	-23.48M	-133.87M	-68.59M	-116.17M
Debt Issued (Net)	-9.33M	-131K	4.57M	-5.18M	-1.1M	49.88M	60.82M
Equity Issued (Net)	14K	0	1000K	1000K	-1000K	-1000K	0
Dividends Paid	-10M	-15M	0	0	0	0	-149.98M
Share Repurchases	0	0	0	-2.02M	-97.93M	-101.07M	0
Other Financing	-30K	-67K	-1.09M	-20.21M	-34.84M	-17.4M	-27M
Net Change in Cash	11.46M▲ 0%	76.97M▲ 571.6%	224.46M▲ 191.6%	175.5M▼ 21.8%	68.07M▼ 61.2%	-110.99M▼ 263.1%	43.94M▲ 0%
Free Cash Flow	29.02M▲ 0%	84.6M▲ 191.6%	60.47M▼ 28.5%	167.26M▲ 176.6%	275.23M▲ 64.5%	-55.43M▼ 120.1%	151.62M▲ 0%
FCF Margin %	52.48%	81.24%	24.77%	39.93%	42.32%	-7.43%	15.79%
FCF Growth %	-	191.57%	-28.53%	176.61%	64.55%	-120.14%	2.08%
FCF per Share	0.10	0.29	0.20	0.57	0.91	-0.18	-0.18
FCF Conversion (FCF/Net Income)	1.97x	3.14x	1.39x	1.55x	1.97x	-0.27x	0.89x
Interest Paid	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0

DLO Key Ratios

DLocal Limited (DLO) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric	2020	2021	2022	2023	2024	TTM
Return on Equity (ROE)	81.02%	47.87%	31.97%	34.86%	25.51%	34.41%
Return on Invested Capital (ROIC)	236.46%	199.89%	-	210.4%	35.68%	35.68%
Gross Margin	57.69%	53.43%	48.26%	42.57%	39.5%	38.6%
Net Margin	27.06%	31.9%	25.94%	22.91%	16.14%	17.8%
Debt / Equity	0.00x	0.03x	0.01x	0.01x	0.11x	0.11x
Interest Coverage	461.87x	154.11x	722.66x	2.02x	2.83x	5.06x
FCF Conversion	3.14x	1.39x	1.55x	1.97x	-0.27x	0.89x
Revenue Growth	88.36%	134.41%	71.61%	55.24%	14.7%	31.63%

DLO Frequently Asked Questions

DLocal Limited (DLO) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

DLocal Limited (DLO) reported $960.2M in revenue for fiscal year 2024. This represents a 1637% increase from $55.3M in 2019.

DLocal Limited (DLO) grew revenue by 14.7% over the past year. This is steady growth.

Yes, DLocal Limited (DLO) is profitable, generating $170.9M in net income for fiscal year 2024 (16.1% net margin).

Dividend & Returns

DLocal Limited (DLO) has a return on equity (ROE) of 25.5%. This is excellent, indicating efficient use of shareholder capital.

DLocal Limited (DLO) generated $151.6M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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DLocal Limited (DLO) financial analysis — history, returns, DCA and operating performance tools

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DLocal Limited(DLO)Earnings, Financials & Key Ratios

DLO Key Insights

✓Strengths

✗Weaknesses

DLO Price & Volume

DLO Growth Metrics

Revenue CAGR

Profit CAGR

EPS CAGR

Return on Capital

DLO Recent Earnings

DLO Peer Comparison

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DLO Income Statement

DLO Balance Sheet

DLO Cash Flow Statement

DLO Key Ratios

DLO Frequently Asked Questions

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