MELI · Mercadolibre Inc - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $28.89B | $20.78B | $10.49B | $10.54B | $7.07B | $3.97B |
| Cost of Revenue | $16.04B | $11.20B | $7.27B | $5.37B | $4.06B | $2.26B |
| Gross Profit | $12.86B | $9.58B | $7.21B | $5.16B | $3.01B | $1.71B |
| R&D | $2.27B | $1.93B | $1.83B | $1.10B | $590.33M | $352.47M |
| SG&A | $1.08B | $963.00M | $766.00M | $661.00M | $464.53M | $326.49M |
| Total Operating Expenses | $9.66B | $6.95B | $5.38B | $4.13B | $2.56B | $1.58B |
| D&A | $818.00M | $617.00M | $524.00M | $403.00M | $203.94M | $104.99M |
| Operating Income | $3.20B | $2.63B | $1.82B | $1.03B | $440.70M | $127.69M |
| Interest Expense | - | - | - | - | - | - |
| Income Tax | $845.00M | $521.00M | $569.00M | $298.00M | $148.80M | $82.02M |
| Net Income | $2.00B | $1.91B | $987.00M | $482.00M | $83.30M | ($707.0K) |
| EPS - Basic | $39.40 | $37.69 | $19.64 | $9.57 | $1.67 | ($0.08) |
| EPS - Diluted | $39.40 | $37.69 | $19.46 | $9.53 | $1.67 | ($0.08) |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $3.67B | $2.63B | $2.56B | $1.91B | $2.58B | $1.86B |
| Accounts Receivable | $369.00M | $255.00M | $156.00M | $130.00M | $98.19M | $49.69M |
| Inventory | $570.00M | $296.00M | $238.00M | $152.00M | $253.08M | $118.14M |
| Accounts Payable | - | - | - | - | - | - |
| Current Assets | $33.57B | $20.14B | $14.29B | $10.95B | $8.17B | $5.35B |
| Total Assets | $42.67B | $25.20B | $17.65B | $13.74B | $10.10B | $6.53B |
| Current Liabilities | $28.63B | $16.60B | $11.30B | $8.56B | $5.84B | $3.64B |
| Long-term Debt | $9.19B | $5.71B | $4.50B | $4.76B | - | - |
| Total Liabilities | $35.92B | $20.84B | $14.57B | $11.91B | $8.57B | $4.87B |
| Stockholders' Equity | $6.75B | $4.35B | $3.07B | $1.83B | $1.53B | $1.65B |
| Retained Earnings | $5.81B | $3.81B | $1.90B | $913.00M | $397.42M | $314.12M |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $12.12B | $7.92B | $5.14B | $2.94B | $965.04M | $1.18B |
| Investing Cash Flow | ($6.18B) | ($8.29B) | ($3.45B) | ($3.87B) | ($1.60B) | ($252.18M) |
| Financing Cash Flow | $2.90B | $1.96B | ($267.00M) | $916.00M | $1.92B | $242.27M |
| CapEx | $1.34B | $860.00M | $509.00M | $454.00M | $572.93M | $247.05M |
| Free Cash Flow | $10.77B | $7.06B | $4.63B | $2.49B | $392.11M | $935.50M |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 44.5% | 46.1% | 68.7% | 49.0% | 42.5% | 43.0% |
| Operating margin | 11.1% | 12.7% | 17.4% | 9.8% | 6.2% | 3.2% |
| EBITDA margin | 13.9% | 15.6% | 22.4% | 13.6% | 9.1% | 5.9% |
| Net margin | 6.9% | 9.2% | 9.4% | 4.6% | 1.2% | -0.0% |
| Free cash flow margin | 37.3% | 34.0% | 44.2% | 23.6% | 5.5% | 23.5% |
| FCF / Net income | 5.39 | 3.69 | 4.69 | 5.16 | 4.71 | -1323.20 |
| R&D / Revenue | 7.9% | 9.3% | 17.5% | 10.4% | 8.4% | 8.9% |
| SG&A / Revenue | 3.7% | 4.6% | 7.3% | 6.3% | 6.6% | 8.2% |
| Effective tax rate | 29.7% | 21.4% | 36.6% | 38.2% | 64.1% | 100.9% |
| Return on assets | 4.7% | 7.6% | 5.6% | 3.5% | 0.8% | -0.0% |
| Return on equity | 29.6% | 43.9% | 32.1% | 26.4% | 5.4% | -0.0% |
| Return on invested capital | 14.1% | 20.5% | 15.3% | 9.7% | - | - |
| Liquidity | ||||||
| Current ratio | 1.17 | 1.21 | 1.27 | 1.28 | 1.40 | 1.47 |
| Quick ratio | 1.15 | 1.20 | 1.24 | 1.26 | 1.36 | 1.44 |
| Cash ratio | 0.13 | 0.16 | 0.23 | 0.22 | 0.44 | 0.51 |
| Leverage | ||||||
| Debt / Equity | 1.36 | 1.31 | 1.46 | 2.60 | - | - |
| Debt / Assets | 0.22 | 0.23 | 0.25 | 0.35 | - | - |
| Debt / EBITDA | 2.29 | 1.76 | 1.92 | 3.31 | - | - |
| Interest coverage | - | - | - | - | - | - |
| Equity multiplier | 6.32 | 5.79 | 5.75 | 7.52 | 6.59 | 3.95 |
| Liabilities / Assets | 0.84 | 0.83 | 0.83 | 0.87 | 0.85 | 0.75 |
| Efficiency | ||||||
| Asset turnover | 0.68 | 0.82 | 0.59 | 0.77 | 0.70 | 0.61 |
| Inventory turnover | 28.13 | 37.84 | 30.53 | 35.36 | 16.06 | 19.17 |
| Days sales outstanding | 5d | 4d | 5d | 5d | 5d | 5d |
| Days inventory outstanding | 13d | 10d | 12d | 10d | 23d | 19d |
| Days payable outstanding | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | 51.1x | 45.1x | 80.8x | 88.8x | 807.4x | - |
| P / B | 15.1x | 19.8x | 26.1x | 23.8x | 43.8x | 50.5x |
| P / S | 3.5x | 4.1x | 7.6x | 4.1x | 9.5x | 21.0x |
| EV / EBITDA | 26.8x | 27.5x | 35.0x | 32.2x | 100.2x | 350.1x |
| Growth | ||||||
| Revenue growth (YoY) | 39.1% | 98.1% | -0.5% | 49.1% | 77.9% | 226.6% |
| Revenue CAGR (3y) | 40.0% | 43.2% | 38.2% | 105.4% | 103.1% | - |
| Revenue CAGR (5y) | 48.7% | 76.4% | 65.5% | - | - | - |
| Gross profit growth (YoY) | 34.3% | 32.9% | 39.6% | 71.8% | 75.8% | 55.1% |
| Operating income growth (YoY) | 21.7% | 44.3% | 76.3% | 134.6% | 245.1% | - |
| Net income growth (YoY) | 4.5% | 93.6% | 104.8% | 478.6% | - | - |
| EPS growth (YoY) | 4.5% | 93.7% | 104.2% | 470.7% | - | 97.8% |
| EPS CAGR (3y) | 60.5% | 182.6% | - | - | - | - |
| EPS CAGR (5y) | - | - | - | 98.4% | -11.6% | - |
| FCF growth (YoY) | 52.6% | 52.4% | 86.3% | 534.0% | -58.1% | 197.7% |
| FCF CAGR (5y) | 63.0% | 86.3% | 102.0% | 79.0% | 26.4% | 38.7% |
| Book value growth (YoY) | 55.1% | 41.7% | 68.1% | 19.3% | -7.3% | -16.7% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$29.78B totalBrazil Segment$15.20B · 51.0%
Mexico Segment$6.47B · 21.7%
Argentina Segment$5.96B · 20.0%
Other Countries Segment$1.25B · 4.2%
Other Countries$891.00M · 3.0%
Product / service
$41.23B totalService$25.29B · 61.3%
Services$6.86B · 16.6%
Product$3.61B · 8.7%
Credit Revenues$3.16B · 7.7%
Product Sales$2.33B · 5.6%
Geographic
$51.00M totalUS$51.00M · 100.0%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
1.19
Distress
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
4/9
Neutral
- ✓Net income positive
- ✓Operating cash flow positive
- ✗ROA improved YoY
- ✓Cash flow > net income
- ✗Long-term debt decreased
- ✗Current ratio improved
- ✓No share dilution
- ✗Gross margin improved
- ✗Asset turnover improved
Peer comparison
Same SIC group: Services-Business Services, NEC
Comparing MERCADOLIBRE INC against the 5 most active filers in the same SIC group.
Dividends
$0.00/share trailing 12 months
| Ex-date | Per share |
|---|---|
| Dec 28, 2017 | $0.1500 |
| Sep 28, 2017 | $0.1500 |
| Jun 28, 2017 | $0.1500 |
| Mar 29, 2017 | $0.1500 |
| Dec 28, 2016 | $0.1500 |
| Sep 28, 2016 | $0.1500 |
| Jun 28, 2016 | $0.1500 |
| Mar 29, 2016 | $0.1500 |
| Dec 29, 2015 | $0.1030 |
| Sep 28, 2015 | $0.1030 |
| Jun 26, 2015 | $0.1030 |
| Mar 27, 2015 | $0.1030 |
| Dec 29, 2014 | $0.1660 |
| Sep 26, 2014 | $0.1660 |
| Jun 26, 2014 | $0.1660 |
| Mar 27, 2014 | $0.1660 |
| Dec 27, 2013 | $0.1430 |
| Sep 26, 2013 | $0.1430 |
| Jun 26, 2013 | $0.1430 |
| Mar 26, 2013 | $0.1430 |
| Dec 27, 2012 | $0.1090 |
| Sep 26, 2012 | $0.1090 |
| Jun 27, 2012 | $0.1090 |
| Mar 28, 2012 | $0.1090 |