MercadoLibre, Inc. (MELI) 10-Year Financial Performance & Capital Metrics

MELI •

Consumer CyclicalSpecialty RetailGeneral Online Marketplaces

AboutMercadoLibre, Inc. operates online commerce platforms in Latin America. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases online; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps. The company also offers Mercado Fondo that allows users to invest funds deposited in their Mercado Pago accounts; Mercado Credito, which extends loans to certain merchants and consumers; and Mercado Envios logistics solution that enables sellers on its platform to utilize third-party carriers and other logistics service providers, as well as fulfillment and warehousing services for sellers. In addition, it provides Mercado Libre Classifieds, an online classified listing service, where users can list and purchase motor vehicles, real estate, and services; Mercado Libre Ads, an advertising platform, which enables large retailers and brands to promote their products and services on the Internet; and Mercado Shops, an online storefronts solution that enables users to set-up, manage, and promote their own digital stores. MercadoLibre, Inc. was incorporated in 1999 and is headquartered in Montevideo, Uruguay.Show more

Revenue $28.89B +39.1%
EBITDA $4.02B +23.7%
Net Income $2B +4.5%
EPS (Diluted) 39.39 +4.5%
Gross Margin 44.5% -3.5%
EBITDA Margin 13.91% -11.0%
Operating Margin 11.08% -12.5%
Net Margin 6.91% -24.9%
ROE 35.99% -30.1%
ROIC 20.84% -23.9%
Debt/Equity 1.69 +7.2%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 42.6%
✓FCF machine: 37.3% free cash flow margin
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 48.7%

✗Weaknesses

✗Trading more than 30% below 52-week high
✗Expensive at 13.2x book value

Price & Volume

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Growth Metrics

Revenue CAGR

10Y46.11%

5Y48.7%

3Y38.91%

TTM39.06%

Profit (Net Income) CAGR

10Y34.15%

5Y-

3Y60.61%

TTM4.5%

EPS CAGR

10Y32.29%

5Y-

3Y60.48%

TTM4.51%

ROCE

10Y Avg15.8%

5Y Avg27.36%

3Y Avg33.94%

Latest28.29%

Peer Comparison

General Online Marketplaces

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
CPNGCoupang, Inc.	3.01B	19.08	173.45	-72.84%	2.53%	0.93%	17.32%	0.18
SESea Limited	4.94B	108.45	148.56	28.75%	6.23%	12.35%	59.87%	0.49
HOURHour Loop, Inc.	67.18M	1.91	102.14	4.64%	0.59%	10.89%	0.41%	0.14
MELIMercadoLibre, Inc.	89.1B	1757.58	44.62	39.06%	6.91%	29.59%	12.09%	1.69
AMZNAmazon.com, Inc.	2.25T	210.00	29.29	12.38%	10.83%	18.89%	0.34%	0.37
EBAYeBay Inc.	40.8B	90.86	20.94	7.95%	18.3%	44.01%	3.64%	1.53
BABAAlibaba Group Holding Limited	2.66T	144.11	18.44	5.86%	12.19%	11.1%	0.43%	0.23
PDDPDD Holdings Inc.	577.63B	103.73	9.36	59.04%	24.43%	26.13%	3.05%	0.03

Profit & Loss

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Sales/Revenue+	844.4M	1.22B	1.44B	2.3B	3.97B	7.07B	10.78B	15.11B	20.78B	28.89B
Revenue Growth %	29.55%	44.07%	18.34%	59.5%	73.06%	77.88%	52.5%	40.14%	37.53%	39.06%
Cost of Goods Sold+	307.54M	496.94M	742.64M	1.19B	2.27B	4.06B	5.58B	7.52B	11.2B	16.04B
COGS % of Revenue	36.42%	40.85%	51.59%	52%	57%	57.49%	51.78%	49.76%	53.91%	55.5%
Gross Profit+	536.86M	719.6M	697.01M	1.1B	1.71B	3B	5.2B	7.59B	9.58B	12.86B
Gross Margin %	63.58%	59.15%	48.41%	48%	43%	42.51%	48.22%	50.24%	46.09%	44.5%
Gross Profit Growth %	22.91%	34.04%	-3.14%	58.12%	55.06%	75.83%	72.98%	46.02%	26.18%	34.26%
Operating Expenses+	355.8M	663.33M	766.49M	1.26B	1.58B	2.56B	4.13B	5.38B	6.95B	9.66B
OpEx % of Revenue	42.14%	54.53%	53.24%	54.67%	39.78%	36.27%	38.3%	35.63%	33.43%	33.42%
Selling, General & Admin	243.61M	447.57M	620.22M	1.03B	1.09B	1.54B	1.96B	2.5B	3.15B	7.39B
SG&A % of Revenue	28.85%	36.79%	43.08%	44.92%	27.55%	21.77%	18.15%	16.56%	15.18%	25.57%
Research & Development	98.48M	127.16M	146.27M	223.81M	353M	590M	1.1B	1.83B	1.93B	2.27B
R&D % of Revenue	11.66%	10.45%	10.16%	9.75%	8.88%	8.35%	10.19%	12.12%	9.31%	7.85%
Other Operating Expenses	13.72M	88.6M	0	0	133M	435M	1.07B	1.05B	1.86B	0
Operating Income+	181.06M	56.27M	-69.48M	-153.16M	128M	441M	1.07B	2.21B	2.63B	3.2B
Operating Margin %	21.44%	4.63%	-4.83%	-6.67%	3.22%	6.24%	9.92%	14.61%	12.66%	11.08%
Operating Income Growth %	30.07%	-68.92%	-223.47%	-120.43%	183.57%	244.53%	142.4%	106.45%	19.21%	21.66%
EBITDA+	210.08M	97.19M	-23.69M	-79.84M	233M	645M	1.47B	2.73B	3.25B	4.02B
EBITDA Margin %	24.88%	7.99%	-1.65%	-3.48%	5.86%	9.12%	13.65%	18.08%	15.63%	13.91%
EBITDA Growth %	29.35%	-53.73%	-124.37%	-237.02%	391.83%	176.82%	128.22%	85.53%	18.93%	23.74%
D&A (Non-Cash Add-back)	29.02M	40.92M	45.79M	73.32M	105M	204M	403M	524M	617M	818M
EBIT	210.93M	80.54M	-9.2M	-41.37M	188M	470M	915M	1.73B	2.6B	3.2B
Net Interest Income+	-24.58M	19.43M	-14.21M	47.65M	-3.92M	-90.74M	-7M	-41M	-5M	0
Interest Income	0	45.9M	42.04M	113.52M	102.77M	137.96M	265M	135M	148M	0
Interest Expense	24.58M	26.47M	56.25M	65.88M	106.69M	228.7M	272M	176M	153M	0
Other Income/Expense	4.27M	-2.2M	4.03M	45.91M	-47M	-209M	-289M	-651M	-199M	-359M
Pretax Income+	185.33M	54.07M	-65.45M	-107.25M	81M	232M	780M	1.56B	2.43B	2.84B
Pretax Margin %	21.95%	4.44%	-4.55%	-4.67%	2.04%	3.28%	7.24%	10.3%	11.71%	9.84%
Income Tax+	48.96M	40.29M	-28.87M	64.75M	82M	149M	298M	569M	521M	845M
Effective Tax Rate %	73.58%	25.49%	55.9%	160.38%	-1.23%	35.78%	61.79%	63.43%	78.58%	70.27%
Net Income+	136.37M	13.78M	-36.59M	-172M	-1M	83M	482M	987M	1.91B	2B
Net Margin %	16.15%	1.13%	-2.54%	-7.49%	-0.03%	1.17%	4.47%	6.53%	9.2%	6.91%
Net Income Growth %	28.9%	-89.89%	-365.49%	-370.14%	99.42%	8400%	480.72%	104.77%	93.62%	4.5%
Net Income (Continuing)	136.37M	13.78M	-36.59M	-172M	-1M	83M	482M	987M	1.91B	2B
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	3.09	0.31	-0.82	-3.53	-0.01	1.67	9.53	19.46	37.69	39.39
EPS Growth %	28.75%	-89.97%	-364.52%	-330.49%	99.6%	11860.56%	470.66%	104.2%	93.68%	4.51%
EPS (Basic)	3.09	0.31	-0.82	-3.53	-0.01	1.67	9.57	19.64	37.69	39.39
Diluted Shares Outstanding	44.16M	44.16M	44.53M	48.69M	49.74M	49.8M	51.34M	51.01M	50.7M	50.7M
Basic Shares Outstanding	44.16M	44.16M	44.53M	48.69M	49.74M	49.8M	50.35M	50.26M	50.7M	50.7M
Dividend Payout Ratio	17.91%	192.28%	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Current Assets+	869.46M	1.29B	1.51B	3.79B	5.35B	8.18B	10.95B	14.26B	20.14B	33.57B
Cash & Short-Term Investments	487.46M	597.69M	901.87M	2.98B	2.46B	2.79B	3.03B	3.75B	3.75B	6.3B
Cash Only	234.14M	388.26M	440.33M	1.38B	1.86B	2.58B	1.91B	2.56B	2.63B	3.67B
Short-Term Investments	253.32M	209.43M	461.54M	1.6B	604.36M	208M	1.12B	1.2B	1.11B	2.63B
Accounts Receivable	359.35M	673.43M	542.5M	672.8M	1.38B	3.34B	4.97B	6.56B	10.47B	7.26B
Days Sales Outstanding	155.33	202.05	137.54	106.94	126.58	172.35	168.45	158.42	184.02	91.74
Inventory	1.1M	2.55M	4.61M	8.63M	118.14M	253M	152M	238M	296M	570M
Days Inventory Outstanding	1.31	1.87	2.27	2.64	19.04	22.72	9.94	11.56	9.65	12.97
Other Current Assets	6.49M	7.38M	34.66M	80.14M	1.3B	1.7B	2.7B	3.63B	5.52B	19.44B
Total Non-Current Assets+	497.97M	386.27M	728.4M	992.84M	1.18B	1.93B	2.78B	3.35B	5.05B	9.09B
Property, Plant & Equipment	124.26M	114.84M	165.61M	444.71M	694.9M	1.27B	1.65B	2.15B	2.48B	4.5B
Fixed Asset Turnover	6.80x	10.59x	8.69x	5.16x	5.72x	5.57x	6.54x	7.03x	8.38x	6.41x
Goodwill	91.8M	92.28M	88.88M	87.61M	85.21M	148M	153M	163M	149M	163M
Intangible Assets	26.28M	23.17M	18.58M	14.28M	14.15M	45M	25M	35M	61M	33M
Long-Term Investments	153.8M	34.72M	276.14M	263.98M	166.11M	76M	301M	139M	1.19B	1.76B
Other Non-Current Assets	56.82M	63.93M	37.74M	64.68M	84.23M	208M	309M	156M	373M	2.63B
Total Assets+	1.37B	1.67B	2.24B	4.78B	6.53B	10.1B	13.74B	17.61B	25.2B	42.67B
Asset Turnover	0.62x	0.73x	0.64x	0.48x	0.61x	0.70x	0.78x	0.86x	0.82x	0.68x
Asset Growth %	36.25%	22.36%	33.85%	113.51%	36.49%	54.77%	35.99%	28.22%	43.06%	69.34%
Total Current Liabilities+	576.6M	968.03M	1.17B	1.75B	3.64B	5.84B	8.56B	11.26B	16.6B	28.63B
Accounts Payable	95.14M	199.5M	243.31M	331.14M	728.06M	1.04B	1.39B	2.12B	3.2B	8.09B
Days Payables Outstanding	112.92	146.53	119.58	101.21	117.32	93.05	91.09	102.79	104.16	184.06
Short-Term Debt	11.58M	56.33M	131.49M	184.13M	541M	1.27B	2.12B	2.26B	2.79B	4.62B
Deferred Revenue (Current)	0	0	26.38M	107.26M	86.61M	67M	81M	66M	106M	0
Other Current Liabilities	10.48M	7.55M	13.84M	12.78M	31.65M	-18.43M	63M	53M	103M	14.58B
Current Ratio	1.51x	1.33x	1.30x	2.16x	1.47x	1.40x	1.28x	1.27x	1.21x	1.17x
Quick Ratio	1.51x	1.33x	1.29x	2.16x	1.44x	1.36x	1.26x	1.24x	1.20x	1.15x
Cash Conversion Cycle	43.72	57.39	20.23	8.37	28.29	102.03	87.3	67.19	89.51	-79.34
Total Non-Current Liabilities+	361.98M	379.38M	736.6M	947.41M	1.24B	2.73B	3.35B	3.28B	4.24B	7.29B
Long-Term Debt	301.94M	312.09M	596.57M	623.99M	844.62M	2.2B	2.59B	2.11B	2.81B	4.57B
Capital Lease Obligations	1M	0	5.66M	184.04M	259.86M	408M	551M	768M	975M	1.77B
Deferred Tax Liabilities	34.06M	23.82M	91.7M	99.95M	64.35M	62M	106M	183M	204M	0
Other Non-Current Liabilities	24.98M	43.47M	42.67M	39.43M	65.36M	55M	87M	211M	248M	947M
Total Liabilities	938.58M	1.35B	1.9B	2.7B	4.87B	8.57B	11.91B	14.54B	20.84B	35.92B
Total Debt+	314.53M	368.41M	735.18M	1.02B	1.71B	3.98B	5.41B	5.33B	6.85B	11.39B
Net Debt	80.39M	-19.85M	294.85M	-367.32M	-148.28M	1.4B	3.5B	2.78B	4.21B	7.72B
Debt / Equity	0.73x	1.13x	2.18x	0.49x	1.03x	2.60x	2.96x	1.74x	1.57x	1.69x
Debt / EBITDA	1.50x	3.79x	-	-	7.33x	6.17x	3.68x	1.95x	2.11x	2.83x
Net Debt / EBITDA	0.38x	-0.20x	-	-	-0.64x	2.17x	2.38x	1.02x	1.30x	1.92x
Interest Coverage	7.37x	2.13x	-1.24x	-2.32x	1.20x	1.93x	3.93x	12.54x	17.20x	-
Total Equity+	428.85M	325.78M	336.7M	2.08B	1.65B	1.53B	1.83B	3.07B	4.35B	6.75B
Equity Growth %	26.33%	-24.04%	3.35%	518.34%	-20.67%	-7.3%	19.33%	68.09%	41.68%	55.09%
Book Value per Share	9.71	7.38	7.56	42.76	33.20	30.74	35.59	60.21	85.82	133.10
Total Shareholders' Equity	428.85M	325.78M	336.7M	2.08B	1.65B	1.53B	1.83B	3.07B	4.35B	6.75B
Common Stock	44K	44K	45K	50K	50K	0	0	0	0	0
Retained Earnings	550.64M	537.92M	503.43M	322.59M	314.12M	397M	913M	1.9B	3.81B	5.81B
Treasury Stock	0	0	0	-720K	-54.8M	-790M	-931M	-310M	-311M	-312M
Accumulated OCI	-259.81M	-282.85M	-391.58M	-406.67M	-468.28M	-515M	-464M	-290M	-920M	-520M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from Operations+	190.26M	269.01M	230.91M	451.09M	1.18B	965.04M	2.94B	5.14B	7.92B	12.12B
Operating CF Margin %	22.53%	22.11%	16.04%	19.64%	29.76%	13.65%	27.27%	34.02%	38.11%	41.93%
Operating CF Growth %	-14.05%	41.39%	-14.16%	95.36%	162.15%	-18.39%	204.65%	74.83%	54.05%	53.02%
Net Income	136.37M	13.78M	-36.59M	-172M	-707K	83.3M	482M	987M	1.91B	2B
Depreciation & Amortization	29.02M	40.92M	45.79M	73.32M	104.99M	203.94M	403M	524M	617M	818M
Stock-Based Compensation	22.98M	35.72M	27.52M	52.06M	131M	89M	84M	167M	261M	0
Deferred Taxes	-6.19M	-24.57M	-92.58M	16.45M	-70.31M	-29.48M	-97M	40M	-243M	0
Other Non-Cash Items	26.45M	130.27M	21.46M	126.34M	244.75M	618.59M	1.66B	1.63B	2.18B	4.87B
Working Capital Changes	-18.37M	72.89M	265.3M	354.92M	772.83M	-312K	411M	1.79B	3.19B	4.44B
Change in Receivables	-15.43M	-21.82M	-27.11M	-507K	-509.91M	-1.09B	-1.16B	-1.41B	-157M	-1.51B
Change in Inventory	-787K	-1.55M	-3.02M	-4.15M	-106.98M	-142.38M	114M	-69M	-113M	-235M
Change in Payables	47.98M	150.22M	90.12M	143.5M	584.28M	379.77M	449M	1.23B	1.59B	0
Cash from Investing+	-84.24M	-22.64M	-672.46M	-1.45B	-252.18M	-1.6B	-3.87B	-3.45B	-8.29B	-6.18B
Capital Expenditures	-77.37M	-74.88M	-97.75M	-136.87M	-247.14M	-609.5M	-455M	-509M	-860M	-1.34B
CapEx % of Revenue	9.16%	6.16%	6.79%	5.96%	6.22%	8.62%	4.22%	3.37%	4.14%	4.65%
Acquisitions	-7.28M	-35.8M	-4.2M	-72K	-6.94M	-55.73M	0	0	-6M	0
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-6.6M	-72.24M	-57.23M	-173.78M	-344.33M	-1.35B	-1.7B	-2.1B	-4.67B	-4.84B
Cash from Financing+	-19.67M	-50.9M	608.88M	2.02B	242.27M	1.93B	916M	-267M	1.96B	2.9B
Debt Issued (Net)	4.75M	42.9M	644.61M	155.04M	606M	598M	1.06B	89M	1.96B	2.9B
Equity Issued (Net)	0	-1000K	-1000K	-720K	-1000K	1000K	-1000K	-1000K	-1000K	-1000K
Dividends Paid	-24.42M	-26.5M	-6.62M	-2.84M	-3.36M	0	0	0	0	0
Share Repurchases	0	-67.31M	-148.94M	-720K	-54.09M	-486M	-148M	-356M	-1M	-1M
Other Financing	0	0	-16.26M	1.87B	-306.38M	293M	0	0	0	0
Net Change in Cash	67.26M	154.12M	76.44M	986.73M	1.06B	1.14B	-285M	485M	851M	8.84B
Free Cash Flow+	112.89M	194.13M	133.15M	314.22M	935.41M	355.55M	2.48B	4.63B	7.06B	10.77B
FCF Margin %	13.37%	15.96%	9.25%	13.68%	23.54%	5.03%	23.05%	30.65%	33.97%	37.29%
FCF Growth %	-28.14%	71.96%	-31.41%	135.98%	197.69%	-61.99%	598.92%	86.36%	52.41%	52.64%
FCF per Share	2.56	4.40	2.99	6.45	18.81	7.14	48.41	90.79	139.22	212.50
FCF Conversion (FCF/Net Income)	1.40x	19.52x	-6.31x	-2.62x	-1182.55x	11.63x	6.10x	5.21x	4.14x	6.07x
Interest Paid	8.06M	7.73M	19.51M	40.52M	54M	58M	247M	608M	0	0
Taxes Paid	74.01M	110.91M	99.49M	94.95M	140M	282M	437M	651M	0	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	35.5%	3.65%	-11.04%	-14.22%	-0.05%	5.22%	28.71%	40.3%	51.5%	35.99%
Return on Invested Capital (ROIC)	27.66%	10.35%	-11.12%	-9.79%	5.97%	14.93%	19.42%	29.61%	27.38%	20.84%
Gross Margin	63.58%	59.15%	48.41%	48%	43%	42.51%	48.22%	50.24%	46.09%	44.5%
Net Margin	16.15%	1.13%	-2.54%	-7.49%	-0.03%	1.17%	4.47%	6.53%	9.2%	6.91%
Debt / Equity	0.73x	1.13x	2.18x	0.49x	1.03x	2.60x	2.96x	1.74x	1.57x	1.69x
Interest Coverage	7.37x	2.13x	-1.24x	-2.32x	1.20x	1.93x	3.93x	12.54x	17.20x	-
FCF Conversion	1.40x	19.52x	-6.31x	-2.62x	-1182.55x	11.63x	6.10x	5.21x	4.14x	6.07x
Revenue Growth	29.55%	44.07%	18.34%	59.5%	73.06%	77.88%	52.5%	40.14%	37.53%	39.06%

US Stock Screener

...

MercadoLibre, Inc. (MELI) 10-Year Financial Performance & Capital Metrics

MELI •

Consumer CyclicalSpecialty RetailGeneral Online Marketplaces

Revenue $28.89B +39.1%
EBITDA $4.02B +23.7%
Net Income $2B +4.5%
EPS (Diluted) 39.39 +4.5%
Gross Margin 44.5% -3.5%
EBITDA Margin 13.91% -11.0%
Operating Margin 11.08% -12.5%
Net Margin 6.91% -24.9%
ROE 35.99% -30.1%
ROIC 20.84% -23.9%
Debt/Equity 1.69 +7.2%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 42.6%
✓FCF machine: 37.3% free cash flow margin
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 48.7%

✗Weaknesses

✗Trading more than 30% below 52-week high
✗Expensive at 13.2x book value

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y46.11%

5Y48.7%

3Y38.91%

TTM39.06%

Profit (Net Income) CAGR

10Y34.15%

5Y-

3Y60.61%

TTM4.5%

EPS CAGR

10Y32.29%

5Y-

3Y60.48%

TTM4.51%

ROCE

10Y Avg15.8%

5Y Avg27.36%

3Y Avg33.94%

Latest28.29%

Peer Comparison

General Online Marketplaces

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
CPNGCoupang, Inc.	3.01B	19.08	173.45	-72.84%	2.53%	0.93%	17.32%	0.18
SESea Limited	4.94B	108.45	148.56	28.75%	6.23%	12.35%	59.87%	0.49
HOURHour Loop, Inc.	67.18M	1.91	102.14	4.64%	0.59%	10.89%	0.41%	0.14
MELIMercadoLibre, Inc.	89.1B	1757.58	44.62	39.06%	6.91%	29.59%	12.09%	1.69
AMZNAmazon.com, Inc.	2.25T	210.00	29.29	12.38%	10.83%	18.89%	0.34%	0.37
EBAYeBay Inc.	40.8B	90.86	20.94	7.95%	18.3%	44.01%	3.64%	1.53
BABAAlibaba Group Holding Limited	2.66T	144.11	18.44	5.86%	12.19%	11.1%	0.43%	0.23
PDDPDD Holdings Inc.	577.63B	103.73	9.36	59.04%	24.43%	26.13%	3.05%	0.03

Profit & Loss

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Sales/Revenue+	844.4M	1.22B	1.44B	2.3B	3.97B	7.07B	10.78B	15.11B	20.78B	28.89B
Revenue Growth %	29.55%	44.07%	18.34%	59.5%	73.06%	77.88%	52.5%	40.14%	37.53%	39.06%
Cost of Goods Sold+	307.54M	496.94M	742.64M	1.19B	2.27B	4.06B	5.58B	7.52B	11.2B	16.04B
COGS % of Revenue	36.42%	40.85%	51.59%	52%	57%	57.49%	51.78%	49.76%	53.91%	55.5%
Gross Profit+	536.86M	719.6M	697.01M	1.1B	1.71B	3B	5.2B	7.59B	9.58B	12.86B
Gross Margin %	63.58%	59.15%	48.41%	48%	43%	42.51%	48.22%	50.24%	46.09%	44.5%
Gross Profit Growth %	22.91%	34.04%	-3.14%	58.12%	55.06%	75.83%	72.98%	46.02%	26.18%	34.26%
Operating Expenses+	355.8M	663.33M	766.49M	1.26B	1.58B	2.56B	4.13B	5.38B	6.95B	9.66B
OpEx % of Revenue	42.14%	54.53%	53.24%	54.67%	39.78%	36.27%	38.3%	35.63%	33.43%	33.42%
Selling, General & Admin	243.61M	447.57M	620.22M	1.03B	1.09B	1.54B	1.96B	2.5B	3.15B	7.39B
SG&A % of Revenue	28.85%	36.79%	43.08%	44.92%	27.55%	21.77%	18.15%	16.56%	15.18%	25.57%
Research & Development	98.48M	127.16M	146.27M	223.81M	353M	590M	1.1B	1.83B	1.93B	2.27B
R&D % of Revenue	11.66%	10.45%	10.16%	9.75%	8.88%	8.35%	10.19%	12.12%	9.31%	7.85%
Other Operating Expenses	13.72M	88.6M	0	0	133M	435M	1.07B	1.05B	1.86B	0
Operating Income+	181.06M	56.27M	-69.48M	-153.16M	128M	441M	1.07B	2.21B	2.63B	3.2B
Operating Margin %	21.44%	4.63%	-4.83%	-6.67%	3.22%	6.24%	9.92%	14.61%	12.66%	11.08%
Operating Income Growth %	30.07%	-68.92%	-223.47%	-120.43%	183.57%	244.53%	142.4%	106.45%	19.21%	21.66%
EBITDA+	210.08M	97.19M	-23.69M	-79.84M	233M	645M	1.47B	2.73B	3.25B	4.02B
EBITDA Margin %	24.88%	7.99%	-1.65%	-3.48%	5.86%	9.12%	13.65%	18.08%	15.63%	13.91%
EBITDA Growth %	29.35%	-53.73%	-124.37%	-237.02%	391.83%	176.82%	128.22%	85.53%	18.93%	23.74%
D&A (Non-Cash Add-back)	29.02M	40.92M	45.79M	73.32M	105M	204M	403M	524M	617M	818M
EBIT	210.93M	80.54M	-9.2M	-41.37M	188M	470M	915M	1.73B	2.6B	3.2B
Net Interest Income+	-24.58M	19.43M	-14.21M	47.65M	-3.92M	-90.74M	-7M	-41M	-5M	0
Interest Income	0	45.9M	42.04M	113.52M	102.77M	137.96M	265M	135M	148M	0
Interest Expense	24.58M	26.47M	56.25M	65.88M	106.69M	228.7M	272M	176M	153M	0
Other Income/Expense	4.27M	-2.2M	4.03M	45.91M	-47M	-209M	-289M	-651M	-199M	-359M
Pretax Income+	185.33M	54.07M	-65.45M	-107.25M	81M	232M	780M	1.56B	2.43B	2.84B
Pretax Margin %	21.95%	4.44%	-4.55%	-4.67%	2.04%	3.28%	7.24%	10.3%	11.71%	9.84%
Income Tax+	48.96M	40.29M	-28.87M	64.75M	82M	149M	298M	569M	521M	845M
Effective Tax Rate %	73.58%	25.49%	55.9%	160.38%	-1.23%	35.78%	61.79%	63.43%	78.58%	70.27%
Net Income+	136.37M	13.78M	-36.59M	-172M	-1M	83M	482M	987M	1.91B	2B
Net Margin %	16.15%	1.13%	-2.54%	-7.49%	-0.03%	1.17%	4.47%	6.53%	9.2%	6.91%
Net Income Growth %	28.9%	-89.89%	-365.49%	-370.14%	99.42%	8400%	480.72%	104.77%	93.62%	4.5%
Net Income (Continuing)	136.37M	13.78M	-36.59M	-172M	-1M	83M	482M	987M	1.91B	2B
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	3.09	0.31	-0.82	-3.53	-0.01	1.67	9.53	19.46	37.69	39.39
EPS Growth %	28.75%	-89.97%	-364.52%	-330.49%	99.6%	11860.56%	470.66%	104.2%	93.68%	4.51%
EPS (Basic)	3.09	0.31	-0.82	-3.53	-0.01	1.67	9.57	19.64	37.69	39.39
Diluted Shares Outstanding	44.16M	44.16M	44.53M	48.69M	49.74M	49.8M	51.34M	51.01M	50.7M	50.7M
Basic Shares Outstanding	44.16M	44.16M	44.53M	48.69M	49.74M	49.8M	50.35M	50.26M	50.7M	50.7M
Dividend Payout Ratio	17.91%	192.28%	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Current Assets+	869.46M	1.29B	1.51B	3.79B	5.35B	8.18B	10.95B	14.26B	20.14B	33.57B
Cash & Short-Term Investments	487.46M	597.69M	901.87M	2.98B	2.46B	2.79B	3.03B	3.75B	3.75B	6.3B
Cash Only	234.14M	388.26M	440.33M	1.38B	1.86B	2.58B	1.91B	2.56B	2.63B	3.67B
Short-Term Investments	253.32M	209.43M	461.54M	1.6B	604.36M	208M	1.12B	1.2B	1.11B	2.63B
Accounts Receivable	359.35M	673.43M	542.5M	672.8M	1.38B	3.34B	4.97B	6.56B	10.47B	7.26B
Days Sales Outstanding	155.33	202.05	137.54	106.94	126.58	172.35	168.45	158.42	184.02	91.74
Inventory	1.1M	2.55M	4.61M	8.63M	118.14M	253M	152M	238M	296M	570M
Days Inventory Outstanding	1.31	1.87	2.27	2.64	19.04	22.72	9.94	11.56	9.65	12.97
Other Current Assets	6.49M	7.38M	34.66M	80.14M	1.3B	1.7B	2.7B	3.63B	5.52B	19.44B
Total Non-Current Assets+	497.97M	386.27M	728.4M	992.84M	1.18B	1.93B	2.78B	3.35B	5.05B	9.09B
Property, Plant & Equipment	124.26M	114.84M	165.61M	444.71M	694.9M	1.27B	1.65B	2.15B	2.48B	4.5B
Fixed Asset Turnover	6.80x	10.59x	8.69x	5.16x	5.72x	5.57x	6.54x	7.03x	8.38x	6.41x
Goodwill	91.8M	92.28M	88.88M	87.61M	85.21M	148M	153M	163M	149M	163M
Intangible Assets	26.28M	23.17M	18.58M	14.28M	14.15M	45M	25M	35M	61M	33M
Long-Term Investments	153.8M	34.72M	276.14M	263.98M	166.11M	76M	301M	139M	1.19B	1.76B
Other Non-Current Assets	56.82M	63.93M	37.74M	64.68M	84.23M	208M	309M	156M	373M	2.63B
Total Assets+	1.37B	1.67B	2.24B	4.78B	6.53B	10.1B	13.74B	17.61B	25.2B	42.67B
Asset Turnover	0.62x	0.73x	0.64x	0.48x	0.61x	0.70x	0.78x	0.86x	0.82x	0.68x
Asset Growth %	36.25%	22.36%	33.85%	113.51%	36.49%	54.77%	35.99%	28.22%	43.06%	69.34%
Total Current Liabilities+	576.6M	968.03M	1.17B	1.75B	3.64B	5.84B	8.56B	11.26B	16.6B	28.63B
Accounts Payable	95.14M	199.5M	243.31M	331.14M	728.06M	1.04B	1.39B	2.12B	3.2B	8.09B
Days Payables Outstanding	112.92	146.53	119.58	101.21	117.32	93.05	91.09	102.79	104.16	184.06
Short-Term Debt	11.58M	56.33M	131.49M	184.13M	541M	1.27B	2.12B	2.26B	2.79B	4.62B
Deferred Revenue (Current)	0	0	26.38M	107.26M	86.61M	67M	81M	66M	106M	0
Other Current Liabilities	10.48M	7.55M	13.84M	12.78M	31.65M	-18.43M	63M	53M	103M	14.58B
Current Ratio	1.51x	1.33x	1.30x	2.16x	1.47x	1.40x	1.28x	1.27x	1.21x	1.17x
Quick Ratio	1.51x	1.33x	1.29x	2.16x	1.44x	1.36x	1.26x	1.24x	1.20x	1.15x
Cash Conversion Cycle	43.72	57.39	20.23	8.37	28.29	102.03	87.3	67.19	89.51	-79.34
Total Non-Current Liabilities+	361.98M	379.38M	736.6M	947.41M	1.24B	2.73B	3.35B	3.28B	4.24B	7.29B
Long-Term Debt	301.94M	312.09M	596.57M	623.99M	844.62M	2.2B	2.59B	2.11B	2.81B	4.57B
Capital Lease Obligations	1M	0	5.66M	184.04M	259.86M	408M	551M	768M	975M	1.77B
Deferred Tax Liabilities	34.06M	23.82M	91.7M	99.95M	64.35M	62M	106M	183M	204M	0
Other Non-Current Liabilities	24.98M	43.47M	42.67M	39.43M	65.36M	55M	87M	211M	248M	947M
Total Liabilities	938.58M	1.35B	1.9B	2.7B	4.87B	8.57B	11.91B	14.54B	20.84B	35.92B
Total Debt+	314.53M	368.41M	735.18M	1.02B	1.71B	3.98B	5.41B	5.33B	6.85B	11.39B
Net Debt	80.39M	-19.85M	294.85M	-367.32M	-148.28M	1.4B	3.5B	2.78B	4.21B	7.72B
Debt / Equity	0.73x	1.13x	2.18x	0.49x	1.03x	2.60x	2.96x	1.74x	1.57x	1.69x
Debt / EBITDA	1.50x	3.79x	-	-	7.33x	6.17x	3.68x	1.95x	2.11x	2.83x
Net Debt / EBITDA	0.38x	-0.20x	-	-	-0.64x	2.17x	2.38x	1.02x	1.30x	1.92x
Interest Coverage	7.37x	2.13x	-1.24x	-2.32x	1.20x	1.93x	3.93x	12.54x	17.20x	-
Total Equity+	428.85M	325.78M	336.7M	2.08B	1.65B	1.53B	1.83B	3.07B	4.35B	6.75B
Equity Growth %	26.33%	-24.04%	3.35%	518.34%	-20.67%	-7.3%	19.33%	68.09%	41.68%	55.09%
Book Value per Share	9.71	7.38	7.56	42.76	33.20	30.74	35.59	60.21	85.82	133.10
Total Shareholders' Equity	428.85M	325.78M	336.7M	2.08B	1.65B	1.53B	1.83B	3.07B	4.35B	6.75B
Common Stock	44K	44K	45K	50K	50K	0	0	0	0	0
Retained Earnings	550.64M	537.92M	503.43M	322.59M	314.12M	397M	913M	1.9B	3.81B	5.81B
Treasury Stock	0	0	0	-720K	-54.8M	-790M	-931M	-310M	-311M	-312M
Accumulated OCI	-259.81M	-282.85M	-391.58M	-406.67M	-468.28M	-515M	-464M	-290M	-920M	-520M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from Operations+	190.26M	269.01M	230.91M	451.09M	1.18B	965.04M	2.94B	5.14B	7.92B	12.12B
Operating CF Margin %	22.53%	22.11%	16.04%	19.64%	29.76%	13.65%	27.27%	34.02%	38.11%	41.93%
Operating CF Growth %	-14.05%	41.39%	-14.16%	95.36%	162.15%	-18.39%	204.65%	74.83%	54.05%	53.02%
Net Income	136.37M	13.78M	-36.59M	-172M	-707K	83.3M	482M	987M	1.91B	2B
Depreciation & Amortization	29.02M	40.92M	45.79M	73.32M	104.99M	203.94M	403M	524M	617M	818M
Stock-Based Compensation	22.98M	35.72M	27.52M	52.06M	131M	89M	84M	167M	261M	0
Deferred Taxes	-6.19M	-24.57M	-92.58M	16.45M	-70.31M	-29.48M	-97M	40M	-243M	0
Other Non-Cash Items	26.45M	130.27M	21.46M	126.34M	244.75M	618.59M	1.66B	1.63B	2.18B	4.87B
Working Capital Changes	-18.37M	72.89M	265.3M	354.92M	772.83M	-312K	411M	1.79B	3.19B	4.44B
Change in Receivables	-15.43M	-21.82M	-27.11M	-507K	-509.91M	-1.09B	-1.16B	-1.41B	-157M	-1.51B
Change in Inventory	-787K	-1.55M	-3.02M	-4.15M	-106.98M	-142.38M	114M	-69M	-113M	-235M
Change in Payables	47.98M	150.22M	90.12M	143.5M	584.28M	379.77M	449M	1.23B	1.59B	0
Cash from Investing+	-84.24M	-22.64M	-672.46M	-1.45B	-252.18M	-1.6B	-3.87B	-3.45B	-8.29B	-6.18B
Capital Expenditures	-77.37M	-74.88M	-97.75M	-136.87M	-247.14M	-609.5M	-455M	-509M	-860M	-1.34B
CapEx % of Revenue	9.16%	6.16%	6.79%	5.96%	6.22%	8.62%	4.22%	3.37%	4.14%	4.65%
Acquisitions	-7.28M	-35.8M	-4.2M	-72K	-6.94M	-55.73M	0	0	-6M	0
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-6.6M	-72.24M	-57.23M	-173.78M	-344.33M	-1.35B	-1.7B	-2.1B	-4.67B	-4.84B
Cash from Financing+	-19.67M	-50.9M	608.88M	2.02B	242.27M	1.93B	916M	-267M	1.96B	2.9B
Debt Issued (Net)	4.75M	42.9M	644.61M	155.04M	606M	598M	1.06B	89M	1.96B	2.9B
Equity Issued (Net)	0	-1000K	-1000K	-720K	-1000K	1000K	-1000K	-1000K	-1000K	-1000K
Dividends Paid	-24.42M	-26.5M	-6.62M	-2.84M	-3.36M	0	0	0	0	0
Share Repurchases	0	-67.31M	-148.94M	-720K	-54.09M	-486M	-148M	-356M	-1M	-1M
Other Financing	0	0	-16.26M	1.87B	-306.38M	293M	0	0	0	0
Net Change in Cash	67.26M	154.12M	76.44M	986.73M	1.06B	1.14B	-285M	485M	851M	8.84B
Free Cash Flow+	112.89M	194.13M	133.15M	314.22M	935.41M	355.55M	2.48B	4.63B	7.06B	10.77B
FCF Margin %	13.37%	15.96%	9.25%	13.68%	23.54%	5.03%	23.05%	30.65%	33.97%	37.29%
FCF Growth %	-28.14%	71.96%	-31.41%	135.98%	197.69%	-61.99%	598.92%	86.36%	52.41%	52.64%
FCF per Share	2.56	4.40	2.99	6.45	18.81	7.14	48.41	90.79	139.22	212.50
FCF Conversion (FCF/Net Income)	1.40x	19.52x	-6.31x	-2.62x	-1182.55x	11.63x	6.10x	5.21x	4.14x	6.07x
Interest Paid	8.06M	7.73M	19.51M	40.52M	54M	58M	247M	608M	0	0
Taxes Paid	74.01M	110.91M	99.49M	94.95M	140M	282M	437M	651M	0	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	35.5%	3.65%	-11.04%	-14.22%	-0.05%	5.22%	28.71%	40.3%	51.5%	35.99%
Return on Invested Capital (ROIC)	27.66%	10.35%	-11.12%	-9.79%	5.97%	14.93%	19.42%	29.61%	27.38%	20.84%
Gross Margin	63.58%	59.15%	48.41%	48%	43%	42.51%	48.22%	50.24%	46.09%	44.5%
Net Margin	16.15%	1.13%	-2.54%	-7.49%	-0.03%	1.17%	4.47%	6.53%	9.2%	6.91%
Debt / Equity	0.73x	1.13x	2.18x	0.49x	1.03x	2.60x	2.96x	1.74x	1.57x	1.69x
Interest Coverage	7.37x	2.13x	-1.24x	-2.32x	1.20x	1.93x	3.93x	12.54x	17.20x	-
FCF Conversion	1.40x	19.52x	-6.31x	-2.62x	-1182.55x	11.63x	6.10x	5.21x	4.14x	6.07x
Revenue Growth	29.55%	44.07%	18.34%	59.5%	73.06%	77.88%	52.5%	40.14%	37.53%	39.06%

MercadoLibre, Inc. (MELI) 10-Year Financial Performance & Capital Metrics

Key Insights

✓Strengths

✗Weaknesses

Price & Volume

Growth Metrics

Revenue CAGR

Profit (Net Income) CAGR

EPS CAGR

ROCE

Peer Comparison

Compare MELI vs Peers

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Profit & Loss

Balance Sheet

Cash Flow

Key Ratios

Deep Dive Analysis

Valuation Overview

Total Return Calculator

Dividend History

Earnings History

Price History

Revenue History

Financial Ratios

MercadoLibre, Inc. (MELI) 10-Year Financial Performance & Capital Metrics

Key Insights

✓Strengths

✗Weaknesses

Price & Volume

Growth Metrics

Revenue CAGR

Profit (Net Income) CAGR

EPS CAGR

ROCE

Peer Comparison

Compare MELI vs Peers

vs BABA

vs AMZN

Compare Top 5

Profit & Loss

Balance Sheet

Cash Flow

Key Ratios

Deep Dive Analysis

Valuation Overview

Total Return Calculator

Dividend History

Earnings History

Price History

Revenue History

Financial Ratios