MercadoLibre, Inc. (MELI) Financial Ratios
24 years of historical data (2002–2025) · Consumer Cyclical · Specialty Retail
EV/EBITDA
↓
25.15
↓-44% vs avg
5yr avg: 44.74
30Y Low17.8·High78.3
P/FCF
↓
8.66
↓-82% vs avg
5yr avg: 49.07
30Y Low9.5·High188.9
P/B Ratio
↓
13.83
↓-46% vs avg
5yr avg: 25.74
30Y Low7.8·High50.5
ROE
↑
36.0%
↓+11% vs avg
5yr avg: 32.3%
30Y Low-14%·High51%
Debt/EBITDA
↓
2.83
↓-15% vs avg
5yr avg: 3.35
30Y Low0.0·High7.3
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
MELI Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
MercadoLibre, Inc. trades at 46.7x earnings, 78% below its 5-year average of 214.6x, sitting at the 36th percentile of its historical range. Compared to the Consumer Cyclical sector median P/E of 19.6x, the stock trades at a premium of 138%. On a free-cash-flow basis, the stock trades at 8.7x P/FCF, 82% below the 5-year average of 49.1x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $93.3B | $102.1B | $86.2B | $80.2B | $43.4B | $67.2B | $83.3B | $27.8B | $13.0B | $13.9B | $6.9B |
| Enterprise Value | $101.1B | $109.8B | $90.4B | $82.9B | $46.9B | $68.6B | $83.2B | $27.5B | $13.3B | $13.9B | $7.0B |
| P/E Ratio → | 46.74 | 51.14 | 45.12 | 80.76 | 88.80 | 807.43 | — | — | — | 1015.03 | 50.53 |
| P/S Ratio | 3.23 | 3.53 | 4.15 | 5.31 | 4.03 | 9.50 | 20.97 | 12.13 | 9.06 | 11.42 | 8.17 |
| P/B Ratio | 13.83 | 15.13 | 19.81 | 26.10 | 23.78 | 43.86 | 50.45 | 13.38 | 38.73 | 42.65 | 16.08 |
| P/FCF | 8.66 | 9.48 | 12.21 | 17.31 | 17.48 | 188.88 | 89.08 | 88.63 | 97.94 | 71.57 | 61.08 |
| P/OCF | 7.70 | 8.43 | 10.89 | 15.60 | 14.78 | 69.59 | 70.46 | 61.74 | 56.48 | 51.65 | 36.24 |
P/E links to full P/E history page with 30-year chart
MELI EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
MercadoLibre, Inc.'s enterprise value stands at 25.1x EBITDA, 44% below its 5-year average of 44.7x. The Consumer Cyclical sector median is 11.4x, placing the stock at a 121% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.80 | 4.35 | 5.49 | 4.35 | 9.70 | 20.93 | 11.97 | 9.26 | 11.41 | 8.26 |
| EV / EBITDA | 25.15 | 27.33 | 27.84 | 30.37 | 31.89 | 106.28 | 356.99 | — | — | 142.75 | 33.20 |
| EV / EBIT | 31.57 | 34.31 | 34.82 | 48.02 | 51.31 | 145.85 | 442.44 | — | — | 172.27 | 33.07 |
| EV / FCF | — | 10.20 | 12.81 | 17.91 | 18.89 | 192.81 | 88.92 | 87.46 | 100.15 | 71.47 | 61.79 |
MELI Profitability
Margins and return-on-capital ratios measuring operating efficiency
MercadoLibre, Inc. earns an operating margin of 11.1%, above the Consumer Cyclical sector average of 2.9%. Operating margins have compressed from 14.6% to 11.1% over the past 3 years, signaling potential cost pressures or competitive headwinds. Return on equity of 36.0% is exceptionally high — well above the sector median of 5.8%. ROIC of 20.8% represents excellent returns on invested capital versus a sector median of 5.8%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 44.5% | 44.5% | 46.1% | 50.2% | 48.2% | 42.5% | 43.0% | 48.0% | 48.4% | 59.2% | 63.6% |
| Operating Margin | 11.1% | 11.1% | 12.7% | 14.6% | 9.9% | 6.2% | 3.2% | -6.7% | -4.8% | 4.6% | 21.4% |
| Net Profit Margin | 6.9% | 6.9% | 9.2% | 6.5% | 4.5% | 1.2% | -0.0% | -7.5% | -2.5% | 1.1% | 16.1% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 36.0% | 36.0% | 51.5% | 40.3% | 28.7% | 5.2% | -0.1% | -14.2% | -11.0% | 3.7% | 35.5% |
| ROA | 5.9% | 5.9% | 8.9% | 6.3% | 4.0% | 1.0% | -0.0% | -4.9% | -1.9% | 0.9% | 11.5% |
| ROIC | 20.8% | 20.8% | 27.4% | 29.6% | 19.4% | 14.9% | 6.0% | -9.8% | -11.1% | 10.4% | 27.7% |
| ROCE | 28.3% | 28.3% | 35.2% | 38.3% | 22.7% | 12.3% | 4.3% | -7.5% | -7.8% | 7.5% | 24.6% |
MELI Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
MercadoLibre, Inc. carries a Debt/EBITDA ratio of 2.8x, which is moderately leveraged (34% below the sector average of 4.3x). Net debt stands at $7.7B ($11.4B total debt minus $3.7B cash).
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.69 | 1.69 | 1.57 | 1.74 | 2.96 | 2.60 | 1.03 | 0.49 | 2.18 | 1.13 | 0.73 |
| Debt / EBITDA | 2.83 | 2.83 | 2.11 | 1.95 | 3.68 | 6.17 | 7.33 | — | — | 3.79 | 1.50 |
| Net Debt / Equity | — | 1.14 | 0.97 | 0.90 | 1.92 | 0.91 | -0.09 | -0.18 | 0.88 | -0.06 | 0.19 |
| Net Debt / EBITDA | 1.92 | 1.92 | 1.30 | 1.02 | 2.38 | 2.17 | -0.64 | — | — | -0.20 | 0.38 |
| Debt / FCF | — | 0.72 | 0.60 | 0.60 | 1.41 | 3.93 | -0.16 | -1.17 | 2.21 | -0.10 | 0.71 |
| Interest Coverage | — | — | 17.20 | 12.54 | 3.93 | 1.93 | 1.20 | -2.32 | -1.24 | 2.13 | 7.37 |
MELI Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.17x means MercadoLibre, Inc. can comfortably meet its short-term obligations, though there is limited excess liquidity. The current ratio has declined from 1.27x to 1.17x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.17 | 1.17 | 1.21 | 1.27 | 1.28 | 1.40 | 1.47 | 2.16 | 1.30 | 1.33 | 1.51 |
| Quick Ratio | 1.15 | 1.15 | 1.20 | 1.24 | 1.26 | 1.36 | 1.44 | 2.16 | 1.29 | 1.33 | 1.51 |
| Cash Ratio | 0.22 | 0.22 | 0.23 | 0.33 | 0.35 | 0.48 | 0.68 | 1.70 | 0.77 | 0.62 | 0.85 |
| Asset Turnover | — | 0.68 | 0.82 | 0.86 | 0.78 | 0.70 | 0.61 | 0.48 | 0.64 | 0.73 | 0.62 |
| Inventory Turnover | 28.13 | 28.13 | 37.84 | 31.58 | 36.72 | 16.06 | 19.17 | 138.44 | 161.02 | 194.96 | 278.82 |
| Days Sales Outstanding | — | 91.74 | 184.02 | 158.42 | 168.45 | 172.35 | 126.58 | 106.94 | 137.54 | 202.05 | 155.33 |
MELI Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
MercadoLibre, Inc. returns 0.0% to shareholders annually primarily through share buybacks. The earnings yield of 2.1% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | 0.0% | 0.0% | 0.1% | 0.2% | 0.4% |
| Payout Ratio | — | — | — | — | — | — | — | — | — | 192.3% | 17.9% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.1% | 2.0% | 2.2% | 1.2% | 1.1% | 0.1% | — | — | — | 0.1% | 2.0% |
| FCF Yield | 11.5% | 10.5% | 8.2% | 5.8% | 5.7% | 0.5% | 1.1% | 1.1% | 1.0% | 1.4% | 1.6% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.4% | 0.3% | 0.7% | 0.1% | 0.0% | 1.1% | 0.5% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.4% | 0.3% | 0.7% | 0.1% | 0.0% | 1.2% | 0.7% | 0.4% |
| Shares Outstanding | — | $51M | $51M | $51M | $51M | $50M | $50M | $49M | $45M | $44M | $44M |
Peer Comparison
Compare MELI with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 MELIYou | $93B | 46.7 | 25.1 | 8.7 | 44.5% | 11.1% | 36.0% | 20.8% | 2.8 |
 AMZN | $3.0T | 38.3 | 20.7 | 384.3 | 50.3% | 11.2% | 22.3% | 14.7% | 1.0 |
 BABA | $342B | 18.0 | 13.6 | 29.8 | 40.0% | 14.1% | 11.8% | 9.6% | 1.4 |
 SE | $54B | 123.3 | 53.4 | 18.4 | 42.8% | 3.9% | 5.9% | 5.4% | 3.9 |
 GRAB | $15B | 59.2 | 35.9 | 111.8 | 43.2% | 6.0% | 4.1% | 3.3% | 5.4 |
 CPNG | $32B | 162.6 | 44.9 | 61.9 | 29.4% | 1.4% | 4.8% | 14.5% | 6.8 |
 PYPL | $43B | 8.6 | 6.3 | 7.6 | 46.6% | 18.3% | 25.7% | 15.0% | 1.4 |
 NU | $55B | 36.2 | 14.8 | 24.9 | 45.9% | 25.2% | 28.1% | 26.0% | 0.3 |
 PAGS | $2B | 7.4 | 5.7 | 5.6 | 50.6% | 37.5% | 14.2% | 10.7% | 4.8 |
 STNE | $3B | 6.7 | — | — | -3.7% | -90.2% | 19.9% | -10.4% | — |
 SHOP | $137B | 112.2 | 90.4 | 68.2 | 48.1% | 12.7% | 9.8% | 9.4% | 0.1 |
| Consumer Cyclical Median | — | 19.6 | 11.4 | 14.9 | 37.9% | 2.9% | 5.8% | 5.8% | 4.3 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Start ComparisonMELI — Frequently Asked Questions
Quick answers to the most common questions about buying MELI stock.
What is MercadoLibre, Inc.'s P/E ratio?
MercadoLibre, Inc.'s current P/E ratio is 46.7x. The historical average is 65.5x. This places it at the 36th percentile of its historical range.
What is MercadoLibre, Inc.'s EV/EBITDA?
MercadoLibre, Inc.'s current EV/EBITDA is 25.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 34.2x.
What is MercadoLibre, Inc.'s ROE?
MercadoLibre, Inc.'s return on equity (ROE) is 36.0%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 24.9%.
Is MELI stock overvalued?
Based on historical data, MercadoLibre, Inc. is trading at a P/E of 46.7x. This is at the 36th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are MercadoLibre, Inc.'s profit margins?
MercadoLibre, Inc. has 44.5% gross margin and 11.1% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does MercadoLibre, Inc. have?
MercadoLibre, Inc.'s Debt/EBITDA ratio is 2.8x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.