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DLO logoDLocal Limited(DLO)Earnings, Financials & Key Ratios

DLO•NASDAQ
19.1× P/E·Price updated Jun 19, 2026
SectorTechnologyIndustryInfrastructure SoftwareSub-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$1.09B+46.6%
  • EBITDA$248M+57.3%
  • Net Income$197M+63.4%
  • EPS (Diluted)0.67+71.8%
  • Gross Margin36.83%-6.8%
  • EBITDA Margin22.71%+7.3%
  • Operating Margin20.31%+7.8%
  • Net Margin18%+11.5%
  • ROE37.19%+45.8%

DLO Key Insights

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

✓Strengths

  • ✓Excellent 3Y average ROE of 32.5%
  • ✓Strong 5Y profit CAGR of 47.5%
  • ✓FCF machine: 38.6% free cash flow margin
  • ✓High quality earnings: Operating CF exceeds net income
  • ✓Strong 5Y sales CAGR of 60.0%
  • ✓Healthy dividend yield of 4.0%

✗Weaknesses

No significant weaknesses identified

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

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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 Years60.05%
3 Years37.69%
TTM55.81%

Profit CAGR

10 Years-
5 Years47.5%
3 Years21.89%
TTM28.67%

EPS CAGR

10 Years-
5 Years47.43%
3 Years21.89%
TTM30.51%

Return on Capital

10 Years51.42%
5 Years40.13%
3 Years37.56%
Last Year41.56%

DLO Recent Earnings

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

Full history →
●Beat EPS 8/12 qtrs (67%)●Beat Revenue 6/12 qtrs (50%)
Q2 2026Latest
May 14, 2026
Metric
Actual
Est
EPS
$0.17+0.3%
$0.17
Rev
$336M+1.4%
$331M
Q2 2026
Mar 18, 2026
Metric
Actual
Est
EPS
$0.22+22.2%
$0.18
Rev
$338M+14.0%
$296M
Q4 2025
Nov 12, 2025
Metric
Actual
Est
EPS
$0.17+2.8%
$0.17
Rev
$282M+7.8%
$262M
Q3 2025
Aug 13, 2025
Metric
Actual
Est
EPS
$0.14+7.7%
$0.13
Rev
$256M+6.7%
$240M
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMay 14, 2026
$0.17vs $0.17+0.3%
$336Mvs $331M+1.4%
Q2 2026Mar 18, 2026
$0.22vs $0.18+22.2%
$338Mvs $296M+14.0%
Q4 2025Nov 12, 2025
$0.17vs $0.17+2.8%
$282Mvs $262M+7.8%
Q3 2025Aug 13, 2025
$0.14vs $0.13+7.7%
$256Mvs $240M+6.7%
Based on last 12 quarters of dataView full earnings history →

DLO Peer Comparison

DLocal Limited (DLO) competitors in Payments and fintech infrastructure — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
Institutional Holdings
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
FLYW logoFLYWFlywire CorporationDirect Competitor1.89B15.85144.0926.59%6.65%5.87%
RELY logoRELYRemitly Global, Inc.Direct Competitor4.44B21.1068.0629.37%6.12%12.66%0.25
PAYO logoPAYOPayoneer Global Inc.Direct Competitor2.35B7.0236.957.68%6.76%10.01%0.10
EVTC logoEVTCEVERTEC, Inc.Direct Competitor1.58B25.7211.6910.21%13.95%18.65%1.58
WEX logoWEXWEX Inc.Product Competitor4.42B127.5315.061.24%11.5%26.96%3.94
RPAY logoRPAYRepay Holdings CorporationProduct Competitor298.61M3.39-1.13-1.21%-82.73%-46.64%0.91
FOUR logoFOURShift4 Payments, Inc.Product Competitor2.73B39.4236.5025.5%2.29%5.13%2.36
PAGS logoPAGSPagSeguro Digital Ltd.Product Competitor2.55B8.826.495.57%10.79%14.62%3.03

Compare DLO vs Peers

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

Closest Rival

vs FLYW

Most directly comparable listed peer for DLO.

Scale Benchmark

vs V

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

Peer Set

Compare Top 5

vs FLYW, RELY, PAYO, EVTC

DLO Income Statement

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

10Y historyFree accessUpdated daily
MetricDec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Sales/Revenue
55.29M104.14M244.12M418.93M650.35M745.97M1.09B1.21B
Revenue Growth %
-88.36%134.41%71.61%55.24%14.7%46.6%55.81%
Cost of Goods Sold
19.41M44.06M113.68M216.76M373.49M451.3M690.83M776.13M
COGS % of Revenue
35.11%42.31%46.57%51.74%57.43%60.5%63.17%-
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%
402.76M▲ 36.7%
436.56M▲ 0%
Gross Margin %
64.89%57.69%53.43%48.26%42.57%39.5%36.83%36%
Gross Profit Growth %
-67.46%117.12%54.98%36.95%6.43%36.68%-
Operating Expenses
18.31M29.13M46.6M74.26M97.2M154.17M180.65M207.14M
OpEx % of Revenue
33.12%27.97%19.09%17.73%14.95%20.67%16.52%-
Selling, General & Admin
15.92M24.7M44.15M50.46M84.17M99.16M114.96M136.08M
SG&A % of Revenue
28.8%23.72%18.09%12.05%12.94%13.29%10.51%-
Research & Development
1.35M2M3.39M6.35M12.65M25.63M30.71M36.06M
R&D % of Revenue
2.44%1.93%1.39%1.52%1.95%3.44%2.81%-
Other Operating Expenses
1.04M2.42M-931K17.45M379K29.39M34.98M3.43M
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%
222.1M▲ 58.1%
229.43M▲ 0%
Operating Margin %
31.77%29.71%34.34%30.53%27.62%18.83%20.31%18.92%
Operating Income Growth %
-76.18%170.93%52.57%40.46%-21.8%58.08%-
EBITDA
17.97M31.94M88.58M136.06M191.88M157.9M248.36M258.11M
EBITDA Margin %
32.51%30.67%36.29%32.48%29.5%21.17%22.71%21.28%
EBITDA Growth %
-77.69%177.37%53.59%41.03%-17.71%57.3%43.85%
D&A (Non-Cash Add-back)
409K992K4.75M8.15M12.22M17.39M26.26M28.69M
EBIT
17.85M31.44M85.64M120.46M179.09M151.52M228.91M233.86M
Net Interest Income
187K376K2.01M17.94M-39.23M-21.43M5.32M11.13M
Interest Income
217K443K2.56M18.11M49.59M28.27M26.25M39.33M
Interest Expense
30K67K544K177K88.82M49.7M20.93M28.19M
Other Income/Expense
259K473K1.66M-7.63M-1.14M10.52M6.55M3.85M
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%
228.65M▲ 51.4%
233.27M▲ 0%
Pretax Margin %
32.24%30.17%35.02%28.71%27.45%20.24%20.91%19.24%
Income Tax
2.22M3.23M7.65M11.59M29.43M30.55M31.75M41.1M
Effective Tax Rate %
12.46%10.28%8.94%9.63%16.48%20.23%13.89%17.62%
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%
196.8M▲ 63.4%
192.15M▲ 0%
Net Margin %
28.22%27.06%31.9%25.94%22.91%16.14%18%15.84%
Net Income Growth %
-80.64%176.31%39.56%37.06%-19.16%63.43%28.67%
Net Income (Continuing)
15.6M28.19M77.85M108.7M149.09M120.47M196.9M192.17M
Discontinued Operations
00000000
Minority Interest
166K-4K-18K-9K109K100K168K209K
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%
0.67▲ 71.8%
0.64▲ 0%
EPS Growth %
-80.49%170.27%42.31%32.43%-20.41%71.79%30.51%
EPS (Basic)
0.050.100.260.370.510.390.67-
Diluted Shares Outstanding
292.92M292.92M295.03M296.03M302.96M305.14M294.93M299.82M
Basic Shares Outstanding
292.92M292.92M295.03M296.03M291.98M308.76M294.93M299.82M
Dividend Payout Ratio
64.09%53.22%----76.21%-

DLO Balance Sheet

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

MetricDec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Total Current Assets
77.22M194.85M529.51M767.83M1.02B1.07B1.42B1.68B
Cash & Short-Term Investments
22.28M52M228.92M513.2M325.49M329.97M824.07M913.6M
Cash Only
6.88M43.68M227.91M511.91M222.81M189.03M724.98M815.61M
Short-Term Investments
15.4M8.32M1M1.29M102.68M140.94M99.09M98M
Accounts Receivable
24.44M67.21M178.88M240.45M319.46M457.16M572.02M740.43M
Days Sales Outstanding
161.36235.56267.45209.5179.29223.69190.92178.8
Inventory
00000000
Days Inventory Outstanding
--------
Other Current Assets
29M69.52M109.06M1.32M327.17M246.2M24.67M23.21M
Total Non-Current Assets
2.38M5.61M53.5M58.47M68.42M98.45M120.21M148.52M
Property, Plant & Equipment
561K1.1M6.4M6.67M6.61M7.02M6.98M6.85M
Fixed Asset Turnover
98.55x94.59x38.14x62.83x98.45x106.23x156.67x164.48x
Goodwill
00000006.55M
Intangible Assets
1.8M4.15M46.97M51.44M57.89M63.32M73.97M92.51M
Long-Term Investments
00001.71M4.7M31.6M31.6M
Other Non-Current Assets
0143K00018.04M032.37M
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%
1.54B▲ 31.6%
1.83B▲ 0%
Asset Turnover
0.69x0.52x0.42x0.51x0.60x0.64x0.71x0.81x
Asset Growth %
-151.86%190.82%41.73%31.24%8.01%31.56%101.03%
Total Current Liabilities
54.85M155.14M298.4M422.27M625.23M677.62M965.91M1.27B
Accounts Payable
50.83M136.73M269.23M395.13M572.39M562.75M812.89M1.12B
Days Payables Outstanding
955.731.13K864.45665.37559.38455.14429.49409
Short-Term Debt
005.01M686K050.45M87.97M0
Deferred Revenue (Current)
00000000
Other Current Liabilities
798K4.29M2.6M18.93M1.31M6.73M46.49M107.97M
Current Ratio
1.41x1.26x1.77x1.82x1.63x1.58x1.47x1.33x
Quick Ratio
1.41x1.26x1.77x1.82x1.63x1.58x1.47x1.33x
Cash Conversion Cycle
--------230.2
Total Non-Current Liabilities
219K276K4.31M4.41M4.08M4.72M5.63M7.19M
Long-Term Debt
00000000
Capital Lease Obligations
219K17K3.43M3.39M3.33M2.86M2.31M9.33M
Deferred Tax Liabilities
0259K883K1.02M753K1.86M3.32M16.43M
Other Non-Current Liabilities
00000000
Total Liabilities
55.07M155.42M302.71M426.68M629.31M682.34M971.53M1.27B
Total Debt
399K218K8.94M4.08M3.96M54.45M90.28M2.76M
Net Debt
-6.48M-43.47M-218.97M-507.83M-218.85M-134.57M-634.7M-812.84M
Debt / Equity
0.02x0.00x0.03x0.01x0.01x0.11x0.16x0.00x
Debt / EBITDA
0.02x0.01x0.10x0.03x0.02x0.34x0.36x0.01x
Net Debt / EBITDA
-0.36x-1.36x-2.47x-3.73x-1.14x-0.85x-2.56x-3.15x
Interest Coverage
595.10x469.22x157.43x680.56x2.02x3.05x10.94x8.29x
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%
569.43M▲ 16.5%
553.34M▲ 0%
Equity Growth %
-83.65%522.23%42.57%13.89%7.44%16.45%29.68%
Book Value per Share
0.080.150.951.351.501.601.931.85
Total Shareholders' Equity
24.36M45.05M280.32M399.63M455.03M488.89M569.26M553.13M
Common Stock
602K602K590K592K591K570K590K588K
Retained Earnings
18.46M31.75M109.87M219.99M369.61M490.02M534.82M519.58M
Treasury Stock
0000-99.94M-200.98M0-10.12M
Accumulated OCI
5.3M12.7M12.71M14.74M11.77M12.5M26.76M35.98M
Minority Interest
166K-4K-18K-9K109K100K168K209K

DLO Cash Flow Statement

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

MetricDec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Cash from Operations
30.72M88.49M108.49M168.25M293.45M-32.78M424.15M418.53M
Operating CF Margin %
55.57%84.97%44.44%40.16%45.12%-4.39%38.79%-
Operating CF Growth %
-188.01%22.6%55.09%74.42%-111.17%1393.79%644.97%
Net Income
17.82M31.42M85.5M108.68M178.51M151.02M196.8M192.15M
Depreciation & Amortization
409K992K4.75M8.15M12.22M17.39M26.26M28.69M
Stock-Based Compensation
5.05M7.29M7.59M011.92M23.78M010.98M
Deferred Taxes
-1.06M0-12.69M00000
Other Non-Cash Items
-193K-533K-1.81M30.64M-13.51M-57.76M37.99M132.38M
Working Capital Changes
8.7M49.31M25.15M20.78M104.3M-167.22M163.11M31.58M
Change in Receivables
-10.97M-45.93M-115.36M-49.44M-123.25M-162.65M-90.15M-281.8M
Change in Inventory
-1.11M0115.36M00000
Change in Payables
20.28M89.89M134.29M130.71M194.62M-6.96M256.65M320.86M
Cash from Investing
118K3.65M-37.94M-13.34M-84.67M-17.75M-20.94M6.33M
Capital Expenditures
-1.71M-876K-48.02M-12.35M-965K-1.71M-36.78M-13.17M
CapEx % of Revenue
3.09%0.84%19.67%2.95%0.15%0.23%3.36%1.09%
Acquisitions
0000000791K
Investments
--------
Other Investing
223K-2.56M2.56M-665K32.33M7.32M042.85M
Cash from Financing
-19.34M-15.2M153.75M-23.48M-133.87M-68.59M-103.52M-116.2M
Debt Issued (Net)
-9.33M-131K4.57M-5.18M-1.1M49.88M51.8M59.92M
Equity Issued (Net)
14K0150.26M1.92M-97.93M-101.07M4.37M-6.86M
Dividends Paid
-10M-15M0000-149.98M-149.95M
Share Repurchases
000-2.02M-97.93M-101.07M0-10.12M
Other Financing
-30K-67K-1.09M-20.21M-34.84M-17.4M-9.7M-19.31M
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%
292.84M▲ 363.8%
309.18M▲ 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%
421.87M▲ 861.1%
399.51M▲ 0%
FCF Margin %
52.48%81.24%24.77%39.93%42.32%-7.43%38.58%32.94%
FCF Growth %
-191.57%-28.53%176.61%64.55%-120.14%861.08%23711.67%
FCF per Share
0.100.290.200.570.91-0.181.431.33
FCF Conversion (FCF/Net Income)
1.97x3.14x1.39x1.55x1.97x-0.27x2.16x2.08x
Interest Paid
00000000
Taxes Paid
00000000

DLO Key Ratios

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

Metric202020212022202320242025TTM
Return on Equity (ROE)
81.02%47.87%31.97%34.86%25.51%37.19%37.03%
Return on Invested Capital (ROIC)
236.46%199.89%-210.4%35.68%115.22%-154.42%
Gross Margin
57.69%53.43%48.26%42.57%39.5%36.83%36%
Net Margin
27.06%31.9%25.94%22.91%16.14%18%15.84%
Debt / Equity
0.00x0.03x0.01x0.01x0.11x0.16x0.00x
Interest Coverage
469.22x157.43x680.56x2.02x3.05x10.94x8.29x
FCF Conversion
3.14x1.39x1.55x1.97x-0.27x2.16x2.08x
Revenue Growth
88.36%134.41%71.61%55.24%14.7%46.6%55.81%
Related:DLO Dividend History·DLO Revenue History·DLO Price History·DLO P/E History·DLO Financial Ratios·DLO Institutional Holders

DLO Frequently Asked Questions

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

Growth & Financials

DLocal Limited (DLO) reported $1.21B in revenue for fiscal year 2025. This represents a 2093% increase from $55.3M in 2019.

DLocal Limited (DLO) grew revenue by 46.6% over the past year. This is strong growth.

Yes, DLocal Limited (DLO) is profitable, generating $192.1M in net income for fiscal year 2025 (18.0% net margin).

Dividend & Returns

Yes, DLocal Limited (DLO) pays a dividend with a yield of 3.98%. This makes it attractive for income-focused investors.

DLocal Limited (DLO) has a return on equity (ROE) of 37.2%. This is excellent, indicating efficient use of shareholder capital.

DLocal Limited (DLO) generated $399.5M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

What if you invested $1,000 in DLO back in 2019?

Total return calculator · dividends reinvested · 7+ years of data

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How much would $100/month in DLO be worth today?

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