MELINasdaqServices-Business Services, NECFiscal year ends December 31
MERCADOLIBRE INC
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 6, 2026
$1839.72+5.72 (+0.31%)
Close on Oct 19, 2026
- Market cap
- $93.27B
- P/E (TTM)
- 50.0
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
44.5%+1.5 pts over 5 years
Operating margin
11.1%+7.9 pts over 5 years
Net margin
6.9%+6.9 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +39.1% | +38.9% | +48.7% | +46.1% | |
| Gross profit | +34.3% | +35.2% | +49.7% | +40.2% | |
| Operating income | +21.7% | +44.1% | +90.4% | +36.8% | |
| Net income | +4.5% | +60.6% | – | +34.2% | |
| EPS, diluted | +4.5% | +60.5% | – | +32.3% | |
| Free cash flow | +52.6% | +63.1% | +63.0% | +50.4% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 35.5% | -0.1% | 36.0% | |
| Return on assets | 11.5% | -0.0% | 5.9% | |
| Current ratio | 1.51 | 1.47 | 1.17 | |
| Debt to equity | – | 0.85 | 1.36 | |
| Net debt to EBITDA | – | -4.72× | 1.37× | |
| Interest coverage | 10.1× | – | – | |
| Inventory turnover | 464.2× | 35.7× | 37.0× | |
| Capex to revenue | 8.1% | 6.2% | 4.6% | |
| Diluted shares | 44M | 50M | 51M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Mercadolibre generated $29.08B from operations and spent $4.73B on capital expenditure, dividends and share buybacks. 79% of that went back into the business.
Generated
$29.08B
Used
$4.73B
Capital expenditure$3.74B79%Dividends$00%Share buybacks$992.00M21%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin6.9%
×Asset turnover0.85×
×Equity multiplier6.11×
=Return on equity, FY202536.0%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 6.9% | 0.85× | 6.11× | 36.0% |
| FY2024 | 9.2% | 0.97× | 5.77× | 51.5% |
| FY2023 | 6.5% | 0.96× | 6.40× | 40.3% |
| FY2022 | 4.5% | 0.90× | 7.10× | 28.7% |
| FY2021 | 1.2% | 0.85× | 5.23× | 5.2% |
| FY2020 | -0.0% | 0.70× | 3.11× | -0.1% |
| FY2019 | -7.5% | 0.65× | 3.03× | -14.8% |
| FY2018 | -2.5% | 0.74× | 5.91× | -11.0% |
| FY2017 | 1.1% | 0.80× | 4.03× | 3.7% |
| FY2016 | 16.1% | 0.71× | 3.09× | 35.5% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
5of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$2.00B
- Cash generatingOperating cash flow above zero$12.12B
- Return on assets improvedROA up on the prior year10.9% → 7.9%
- Earnings backed by cashOperating cash flow above net income$12.12B vs $2.00B
- Less leverageLong-term debt to assets fell11.5% → 10.7%
- Better liquidityCurrent ratio rose1.21 → 1.17
- No dilutionShare count did not rise51M → 51M
- Gross margin improvedGross margin up on the prior year46.09% → 44.50%
- More efficientAsset turnover rose1.18 → 1.15