MercadoLibre (MELI) Financials

$2,472.91 +0.62 (+0.03%)

Closing price 08/29/2025 04:00 PM Eastern

Extended Trading

$2,465.00 -7.91 (-0.32%)

As of 08/29/2025 07:53 PM Eastern

Annual Income Statements for MercadoLibre

This table shows MercadoLibre's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	73	106	136	14	-37	-172	-1.00	83	482	987	1,911
Consolidated Net Income / (Loss)	73	106	136	14	-37	-172	-1.00	83	482	987	1,911
Net Income / (Loss) Continuing Operations	73	106	136	14	-37	-172	-1.00	83	482	987	1,911
Total Pre-Tax Income	122	150	185	54	-65	-107	81	241	780	1,553	2,432
Total Operating Income	120	139	181	56	-69	-153	128	441	1,069	2,207	2,631
Total Gross Profit	344	360	537	720	697	1,102	1,576	2,570	4,125	6,540	7,719
Total Revenue	557	652	844	1,217	1,440	2,296	3,974	7,069	10,780	15,107	20,777
Operating Revenue	557	652	844	1,217	1,440	2,296	3,974	7,069	10,780	15,107	20,777
Total Cost of Revenue	213	291	308	497	743	1,194	2,398	4,499	6,655	8,567	13,058
Operating Cost of Revenue	213	291	308	497	743	1,194	2,265	4,064	5,582	7,517	11,200
Other Cost of Revenue	-	-	-	-	-	-	133	435	1,073	1,050	1,858
Total Operating Expenses	223	221	356	663	766	1,255	1,448	2,129	3,056	4,333	5,088
Selling, General & Admin Expense	62	76	87	122	138	197	327	465	661	766	963
Marketing Expense	112	129	156	325	482	834	768	1,074	1,296	1,736	2,191
Research & Development Expense	-	-	98	127	146	224	353	590	1,099	1,831	1,934
Total Other Income / (Expense), net	1.33	11	4.27	-2.20	4.03	46	-47	-200	-289	-654	-199
Interest Expense	12	20	26	26	56	66	107	229	135	174	165
Interest & Investment Income	15	21	35	46	42	114	103	138	44	135	148
Other Income / (Expense), net	-2.35	11	-5.57	-22	18	-1.73	-43	-109	-198	-615	-182
Income Tax Expense	49	45	49	40	-29	65	82	149	298	569	521
Other Gains / (Losses), net	-	-	-	-	-	0.00	0.00	-9.00	0.00	3.00	0.00
Basic Earnings per Share	$1.63	$2.40	$3.09	$0.31	($0.82)	($3.71)	($0.08)	$1.67	$9.57	$19.64	$37.69
Weighted Average Basic Shares Outstanding	44.15M	44.16M	44.16M	44.16M	44.53M	48.69M	49.74M	49.80M	50.35M	50.26M	50.70M
Diluted Earnings per Share	$1.63	$2.40	$3.09	$0.31	($0.82)	($3.71)	($0.08)	$1.67	$9.53	$19.46	$37.69
Weighted Average Diluted Shares Outstanding	44.15M	44.16M	44.16M	44.16M	44.53M	48.69M	49.74M	49.80M	51.34M	51.01M	50.70M
Weighted Average Basic & Diluted Shares Outstanding	44.50M	44.10M	44.10M	44.50M	44.60M	49.71M	49.87M	50.42M	50.26M	50.70M	50.70M

This table shows MercadoLibre's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Net Income / (Loss) Attributable to Common Shareholders	165	201	262	359	165	344	531	397	639	494	523
Consolidated Net Income / (Loss)	165	201	262	359	165	344	531	397	639	494	523
Net Income / (Loss) Continuing Operations	165	201	262	359	165	344	531	397	639	494	523
Total Pre-Tax Income	308	320	472	531	230	481	668	520	763	706	716
Total Operating Income	384	418	669	785	335	528	726	557	820	763	825
Total Gross Profit	1,011	1,362	1,831	1,818	1,529	1,650	1,915	1,932	2,222	2,168	2,404
Total Revenue	3,245	3,186	3,585	3,927	4,409	4,333	5,073	5,312	6,059	5,935	6,790
Operating Revenue	3,245	3,186	3,585	3,927	4,409	4,333	5,073	5,312	6,059	5,935	6,790
Total Cost of Revenue	2,234	1,824	1,976	2,109	2,658	2,683	3,158	3,380	3,837	3,767	4,386
Operating Cost of Revenue	1,752	1,572	1,754	1,832	2,359	2,309	2,708	2,873	3,310	3,164	3,696
Other Cost of Revenue	-	252	222	277	299	374	450	507	527	603	690
Total Operating Expenses	627	944	940	1,033	1,416	1,122	1,189	1,375	1,402	1,405	1,579
Selling, General & Admin Expense	176	180	189	196	201	186	218	305	254	255	261
Marketing Expense	381	383	383	441	529	478	511	566	636	599	751
Research & Development Expense	325	381	368	396	686	458	460	504	512	551	567
Total Other Income / (Expense), net	-76	-98	-197	-254	-105	-47	-58	-37	-57	-57	-109
Interest Expense	-86	34	49	53	38	38	39	40	48	39	36
Interest & Investment Income	-98	23	34	38	40	25	39	43	41	37	44
Other Income / (Expense), net	-64	-87	-182	-239	-107	-34	-58	-40	-50	-55	-117
Income Tax Expense	144	122	210	172	65	137	137	123	124	212	193
Basic Earnings per Share	$3.27	$4.01	$5.22	$7.18	$3.23	$6.78	$10.48	$7.83	$12.60	$9.74	$10.31
Weighted Average Basic Shares Outstanding	50.35M	50.25M	50.16M	50.01M	50.26M	50.70M	50.70M	50.70M	50.70M	50.70M	50.70M
Diluted Earnings per Share	$3.24	$3.97	$5.16	$7.16	$3.17	$6.78	$10.48	$7.83	$12.60	$9.74	$10.31
Weighted Average Diluted Shares Outstanding	51.34M	51.24M	51.15M	50.21M	51.01M	50.70M	50.70M	50.70M	50.70M	50.70M	50.70M
Weighted Average Basic & Diluted Shares Outstanding	50.26M	50.21M	50.09M	50.56M	50.70M	50.70M	50.70M	50.70M	50.70M	50.70M	50.70M

This table details how cash moves in and out of MercadoLibre's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	83	-56	86	195	167	987	1,057	1,140	-15	1,423	1,590
Net Cash From Operating Activities	197	221	190	269	231	451	1,182	965	2,940	5,140	7,918
Net Cash From Continuing Operating Activities	197	221	190	269	231	451	1,182	965	2,940	5,140	7,918
Net Income / (Loss) Continuing Operations	73	106	136	14	-37	-172	-1.00	83	482	987	1,911
Consolidated Net Income / (Loss)	73	106	136	14	-37	-172	-1.00	83	482	987	1,911
Depreciation Expense	17	23	29	41	46	73	105	204	403	524	617
Amortization Expense	7.87	17	9.84	11	11	17	15	76	122	113	114
Non-Cash Adjustments To Reconcile Net Income	66	28	24	133	21	112	348	686	1,596	2,022	4,658
Changes in Operating Assets and Liabilities, net	33	47	-8.84	71	189	421	715	-84	337	1,494	618
Net Cash From Investing Activities	-322	-184	-84	-23	-672	-1,448	-252	-1,597	-3,871	-3,450	-8,287
Net Cash From Continuing Investing Activities	-322	-184	-84	-23	-672	-1,448	-252	-1,597	-3,871	-3,450	-8,287
Purchase of Property, Plant & Equipment	-34	-39	-69	-55	-93	-137	-247	-573	-455	-509	-860
Acquisitions	-42	-47	-7.72	-36	-4.39	-0.07	-7.00	-92	0.00	0.00	-6.00
Purchase of Investments	-2,577	-1,950	-3,501	-4,554	-3,176	-4,491	-5,204	-7,391	-12,739	-18,994	-16,724
Sale and/or Maturity of Investments	2,331	1,876	3,508	4,714	2,663	3,354	5,551	7,807	11,024	18,100	13,991
Other Investing Activities, net	-	-23	-15	-92	-62	-174	-345	-1,348	-1,701	-2,047	-4,688
Net Cash From Financing Activities	264	-28	-20	-51	609	2,021	242	1,925	916	-267	1,959
Net Cash From Continuing Financing Activities	264	-28	-20	-51	609	2,021	242	1,925	916	-267	1,959
Repayment of Debt	-16	-9.06	-6.68	-5.00	-488	-473	-1,785	-8,647	-15,933	-24,841	-17,461
Repurchase of Common Equity	-1.94	-2.71	-	0.00	0.00	-0.72	-54	-486	-148	-356	-1.00
Issuance of Debt	330	5.03	11	48	1,117	630	2,396	9,262	17,017	24,963	19,472
Other Financing Activities, net	-20	-	-	-67	-13	-98	-312	276	-20	-33	-51
Cash Interest Paid	4.75	7.98	8.06	7.73	20	41	54	58	247	608	456
Cash Income Taxes Paid	68	66	74	111	99	95	140	282	437	651	1,052

This table details how cash moves in and out of MercadoLibre's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Net Change in Cash & Equivalents	1,105	161	300	-568	1,530	-30	5.00	-345	1,960	-201	2,390
Net Cash From Operating Activities	1,542	859	1,412	941	1,928	1,512	1,882	1,600	2,924	1,031	2,917
Net Cash From Continuing Operating Activities	1,542	859	1,415	941	1,925	1,512	1,894	1,598	2,914	1,031	2,917
Net Income / (Loss) Continuing Operations	165	201	262	359	165	344	531	397	639	494	523
Consolidated Net Income / (Loss)	165	201	262	359	165	344	531	397	639	494	523
Depreciation Expense	122	126	128	135	135	154	154	157	152	172	199
Amortization Expense	-10	52	65	-38	34	32	34	-4.00	36	68	105
Non-Cash Adjustments To Reconcile Net Income	916	382	903	322	415	1,069	566	742	2,297	776	1,796
Changes in Operating Assets and Liabilities, net	349	98	57	163	1,176	-87	609	306	-210	-479	294
Net Cash From Investing Activities	-646	-538	-668	-1,330	-914	-1,466	-2,085	-2,608	-2,128	-1,842	-1,225
Net Cash From Continuing Investing Activities	-646	-538	-668	-1,330	-914	-1,466	-2,085	-2,608	-2,128	-1,842	-1,225
Purchase of Property, Plant & Equipment	-113	-89	-114	-126	-180	-148	-183	-222	-309	-272	-287
Purchase of Investments	-3,466	-5,132	-4,928	-5,529	-3,405	-4,100	-4,623	-3,672	-4,329	-4,242	-2,215
Sale and/or Maturity of Investments	3,163	5,104	4,819	4,924	3,253	3,728	3,766	2,613	3,884	3,907	2,898
Other Investing Activities, net	-231	-421	-445	-599	-582	-946	-1,044	-1,326	-1,372	-1,235	-1,621
Net Cash From Financing Activities	-12	-112	-360	132	73	0.00	476	726	757	465	613
Net Cash From Continuing Financing Activities	-12	-112	-360	132	73	0.00	476	726	757	465	613
Repayment of Debt	-4,512	-6,022	-6,547	-6,784	-5,488	-3,506	-3,314	-4,514	-6,127	-8,453	-9,168
Issuance of Debt	4,539	5,977	6,340	7,073	5,573	3,519	3,804	5,252	6,897	8,931	9,794
Other Financing Activities, net	-6.00	-6.00	-7.00	-8.00	-12	-13	-13	-12	-13	-13	-13
Effect of Exchange Rate Changes	-	-48	-84	-311	-	-76	-268	-63	-	145	85

This table presents MercadoLibre's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	967	1,004	1,367	1,673	2,240	4,782	6,526	10,101	13,736	17,612	25,196
Total Current Assets	533	545	869	1,287	1,511	3,789	5,347	8,175	10,953	14,260	20,142
Cash & Equivalents	223	167	234	388	440	1,385	1,856	2,585	1,910	2,556	2,635
Restricted Cash	-	-	-	-	24	67	652	1,063	1,453	1,292	2,064
Short-Term Investments	149	202	253	209	462	1,597	1,241	810	2,339	3,480	4,485
Note & Lease Receivable	-	-	6.28	73	96	182	385	1,199	1,704	2,629	4,716
Accounts Receivable	47	28	25	28	35	35	50	98	130	156	255
Inventories, net	-	0.22	1.10	2.55	4.61	8.63	118	253	152	238	296
Other Current Assets	99	142	334	579	422	469	1,016	2,127	3,265	3,909	5,691
Plant, Property, & Equipment, net	92	82	124	115	166	244	392	807	0.00	0.00	0.00
Total Noncurrent Assets	343	377	374	271	563	749	788	1,119	2,783	3,352	5,054
Long-Term Investments	205	188	154	35	276	264	166	89	322	162	1,203
Noncurrent Note & Lease Receivables	-	-	-	-	0.00	6.44	17	61	32	65	179
Goodwill	69	87	92	92	89	88	85	148	153	163	149
Intangible Assets	23	29	26	23	19	14	14	45	25	11	12
Noncurrent Deferred & Refundable Income Taxes	22	30	45	57	141	118	135	181	346	710	802
Other Noncurrent Operating Assets	24	44	57	64	38	259	371	595	1,905	2,241	2,709
Total Liabilities & Shareholders' Equity	967	1,004	1,367	1,673	2,240	4,782	6,526	10,101	13,736	17,612	25,196
Total Liabilities	611	664	939	1,347	1,903	2,700	4,875	8,570	11,909	14,541	20,845
Total Current Liabilities	293	322	577	968	1,166	1,752	3,636	5,837	8,562	11,263	16,603
Short-Term Debt	1.64	1.97	12	56	133	186	548	1,285	2,131	2,292	2,828
Accounts Payable	223	265	476	804	908	1,266	2,463	3,429	4,847	6,592	10,150
Current Deferred & Payable Income Tax Liabilities	28	10	27	32	31	60	216	291	414	477	525
Current Employee Benefit Liabilities	29	33	49	65	60	102	207	313	401	545	727
Other Current Liabilities	4.18	7.67	6.36	3.68	34	138	201	519	769	1,357	2,373
Total Noncurrent Liabilities	318	342	362	379	737	947	1,239	2,733	3,347	3,278	4,242
Long-Term Debt	282	294	302	312	602	631	861	2,233	2,627	2,203	2,887
Capital Lease Obligations	-	-	-	-	0.00	177	244	372	514	672	894
Noncurrent Deferred & Payable Income Tax Liabilities	19	27	34	24	92	100	64	62	106	183	204
Other Noncurrent Operating Liabilities	6.18	9.86	9.81	18	20	13	20	66	100	220	257
Commitments & Contingencies	-	-	-	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	356	339	429	326	337	1,983	1,652	1,531	1,827	3,071	4,351
Total Preferred & Common Equity	356	339	429	326	337	1,983	1,652	1,531	1,827	3,071	4,351
Total Common Equity	356	339	429	326	337	1,983	1,652	1,531	1,827	3,071	4,351
Common Stock	138	138	138	71	225	2,068	1,861	2,439	2,309	1,770	1,770
Retained Earnings	353	441	551	538	503	323	314	397	913	1,901	3,812
Accumulated Other Comprehensive Income / (Loss)	-135	-239	-260	-283	-392	-407	-468	-515	-464	-290	-920
Other Equity Adjustments	-	-	-	-	-	-	-	-	-931	-310	-311

This table presents MercadoLibre's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Total Assets	13,736	14,201	15,243	16,124	17,612	19,062	20,030	22,623	25,196	27,682	32,948
Total Current Assets	10,953	11,336	12,290	13,050	14,260	15,505	16,479	17,824	20,142	21,740	26,062
Cash & Equivalents	1,910	2,143	1,860	2,171	2,556	2,579	2,818	2,162	2,635	2,977	3,008
Restricted Cash	1,453	1,381	1,964	1,085	1,292	1,239	1,005	1,316	2,064	1,521	3,880
Short-Term Investments	2,339	2,479	2,839	3,320	3,480	3,671	4,073	4,511	4,485	5,082	4,634
Note & Lease Receivable	1,704	1,877	2,051	2,336	2,629	3,119	3,440	4,248	4,716	5,501	6,607
Accounts Receivable	130	132	160	161	156	170	190	216	255	261	313
Inventories, net	152	199	236	246	238	223	257	322	296	358	434
Other Current Assets	3,265	3,080	3,125	3,688	3,909	4,504	4,696	5,049	5,691	6,040	7,186
Plant, Property, & Equipment, net	0.00	1,036	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Noncurrent Assets	2,783	1,829	2,953	3,074	3,352	3,557	3,551	4,799	5,054	5,942	6,886
Long-Term Investments	322	278	149	149	162	249	416	1,226	1,203	1,321	1,388
Noncurrent Note & Lease Receivables	32	31	76	42	65	86	111	156	179	225	277
Goodwill	153	160	166	159	163	158	149	149	149	155	160
Intangible Assets	25	24	22	21	11	12	13	12	12	39	39
Noncurrent Deferred & Refundable Income Taxes	346	357	348	489	710	810	767	780	802	968	1,139
Other Noncurrent Operating Assets	1,905	979	2,192	2,214	2,241	2,242	2,095	2,476	2,709	3,234	3,883
Total Liabilities & Shareholders' Equity	13,736	14,201	15,243	16,124	17,612	19,062	20,030	22,623	25,196	27,682	32,948
Total Liabilities	11,909	12,161	12,991	13,383	14,541	15,672	16,374	18,621	20,845	22,678	27,235
Total Current Liabilities	8,562	8,827	9,616	10,306	11,263	12,256	12,914	14,313	16,603	18,065	21,750
Short-Term Debt	2,131	2,332	2,286	2,272	2,292	2,246	2,203	2,250	2,828	3,569	3,818
Accounts Payable	4,847	4,850	5,565	5,926	6,592	7,262	7,958	8,794	10,150	10,721	13,254
Current Deferred & Payable Income Tax Liabilities	414	363	447	530	477	500	419	426	525	487	766
Current Employee Benefit Liabilities	401	425	394	519	545	531	482	665	727	647	670
Other Current Liabilities	769	838	903	1,038	1,357	1,717	1,852	2,178	2,373	2,641	3,242
Total Noncurrent Liabilities	3,347	3,334	3,375	3,077	3,278	3,416	3,460	4,308	4,242	4,613	5,485
Long-Term Debt	2,627	2,500	2,481	2,182	2,203	2,224	2,439	3,103	2,887	2,864	3,484
Capital Lease Obligations	514	529	595	615	672	653	623	770	894	1,009	1,333
Noncurrent Deferred & Payable Income Tax Liabilities	106	117	112	163	183	226	159	193	204	270	293
Other Noncurrent Operating Liabilities	100	188	187	117	220	313	239	242	257	470	375
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,827	2,040	2,252	2,741	3,071	3,390	3,656	4,002	4,351	5,004	5,713
Total Preferred & Common Equity	1,827	2,040	2,252	2,741	3,071	3,390	3,656	4,002	4,351	5,004	5,713
Total Common Equity	1,827	2,040	2,252	2,741	3,071	3,390	3,656	4,002	4,351	5,004	5,713
Common Stock	2,309	2,309	2,309	1,959	1,770	1,770	1,770	1,770	1,770	1,770	1,770
Retained Earnings	913	1,114	1,376	1,735	1,901	2,245	2,776	3,173	3,812	4,306	4,829
Treasury Stock	-	-992	-1,138	-587	-	-	-311	-	-311	-	-311
Accumulated Other Comprehensive Income / (Loss)	-464	-391	-295	-366	-290	-315	-579	-630	-920	-761	-575

This table displays calculated financial ratios and metrics derived from MercadoLibre's official financial filings.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	17.76%	17.12%	29.55%	44.07%	18.34%	59.50%	73.06%	77.88%	52.50%	40.14%	37.53%
EBITDA Growth	-14.24%	33.48%	12.34%	-59.69%	-93.11%	-1,181.55%	418.13%	198.54%	128.10%	59.67%	42.66%
EBIT Growth	-23.69%	27.26%	16.74%	-80.26%	-247.94%	-202.28%	154.88%	290.59%	162.35%	82.78%	53.83%
NOPAT Growth	-35.04%	36.16%	36.15%	-89.24%	-439.14%	-120.43%	98.53%	10,753.31%	292.39%	111.69%	47.84%
Net Income Growth	-38.18%	45.61%	28.90%	-89.89%	-365.49%	-370.14%	99.42%	8,400.00%	480.72%	104.77%	93.62%
EPS Growth	-38.72%	47.24%	28.75%	-89.97%	-364.52%	-352.44%	97.84%	2,187.50%	470.66%	104.20%	93.68%
Operating Cash Flow Growth	38.09%	12.49%	-14.05%	41.39%	-14.16%	95.36%	162.03%	-18.36%	204.66%	74.83%	54.05%
Free Cash Flow Firm Growth	415.06%	-23.19%	30.18%	-50.84%	179.96%	-100.79%	31,539.43%	-452.95%	134.90%	275.42%	29.96%
Invested Capital Growth	-34.87%	20.04%	28.72%	-36.51%	-290.77%	-81.25%	-158.41%	243.00%	23.00%	-30.42%	-23.40%
Revenue Q/Q Growth	5.05%	3.06%	9.83%	9.13%	5.11%	12.01%	19.68%	12.80%	11.54%	10.27%	12.35%
EBITDA Q/Q Growth	3.80%	1.59%	5.48%	-59.58%	112.29%	-262.34%	97.36%	9.23%	37.81%	-0.71%	41.59%
EBIT Q/Q Growth	-3.24%	0.62%	7.80%	-79.08%	54.79%	-70.49%	64.81%	0.70%	68.15%	-3.46%	60.80%
NOPAT Q/Q Growth	-9.20%	-5.24%	22.24%	-89.16%	47.86%	-79.99%	71.54%	26.19%	45.56%	4.47%	55.05%
Net Income Q/Q Growth	-8.41%	4.76%	9.99%	-89.63%	64.12%	-42.93%	75.76%	6.24%	77.86%	0.00%	32.99%
EPS Q/Q Growth	-9.44%	5.73%	9.96%	-89.74%	64.50%	-44.36%	66.67%	5.70%	78.13%	-0.36%	33.37%
Operating Cash Flow Q/Q Growth	24.47%	30.50%	-26.19%	-5.60%	3.68%	10.66%	17.70%	85.58%	40.07%	8.12%	14.39%
Free Cash Flow Firm Q/Q Growth	49.85%	136.30%	-34.58%	-63.64%	84.98%	88.55%	-40.04%	-30.50%	140.52%	-21.49%	48.67%
Invested Capital Q/Q Growth	-1.08%	-39.46%	34.11%	5.22%	-19.16%	-49.03%	22.29%	145.47%	-44.70%	-31.06%	-37.03%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	61.80%	55.29%	63.58%	59.15%	48.42%	48.00%	39.66%	36.36%	38.27%	43.29%	37.15%
EBITDA Margin	25.68%	29.27%	25.39%	7.10%	0.41%	-2.81%	5.16%	8.66%	12.95%	14.75%	15.31%
Operating Margin	21.65%	21.36%	21.44%	4.63%	-4.83%	-6.67%	3.22%	6.24%	9.92%	14.61%	12.66%
EBIT Margin	21.22%	23.06%	20.78%	2.85%	-3.56%	-6.75%	2.14%	4.70%	8.08%	10.54%	11.79%
Profit (Net Income) Margin	13.05%	16.23%	16.15%	1.13%	-2.54%	-7.49%	-0.03%	1.17%	4.47%	6.53%	9.20%
Tax Burden Percent	59.65%	70.30%	73.58%	25.49%	55.90%	160.38%	-1.23%	34.44%	61.79%	63.55%	78.58%
Interest Burden Percent	103.11%	100.11%	105.61%	156.10%	127.73%	69.24%	95.29%	72.59%	89.55%	97.55%	99.31%
Effective Tax Rate	40.35%	29.70%	26.42%	74.51%	0.00%	0.00%	101.23%	61.83%	38.21%	36.64%	21.42%
Return on Invested Capital (ROIC)	81.30%	127.55%	139.18%	16.28%	0.00%	0.00%	0.00%	128.12%	67.79%	153.42%	313.00%
ROIC Less NNEP Spread (ROIC-NNEP)	81.00%	124.62%	138.09%	16.48%	0.00%	0.00%	0.00%	133.96%	93.14%	180.17%	318.13%
Return on Net Nonoperating Assets (RNNOA)	-60.64%	-97.12%	-103.68%	-12.63%	0.00%	0.00%	0.00%	-122.90%	-39.08%	-113.11%	-261.51%
Return on Equity (ROE)	20.66%	30.43%	35.50%	3.65%	-11.04%	-14.22%	-0.05%	5.22%	28.71%	40.30%	51.50%
Cash Return on Invested Capital (CROIC)	123.54%	109.34%	114.07%	60.94%	0.00%	0.00%	0.00%	-150.67%	47.16%	189.29%	339.50%
Operating Return on Assets (OROA)	15.15%	15.26%	14.80%	2.28%	-2.62%	-4.41%	1.50%	3.99%	7.31%	10.16%	11.44%
Return on Assets (ROA)	9.32%	10.74%	11.50%	0.91%	-1.87%	-4.90%	-0.02%	1.00%	4.04%	6.30%	8.93%
Return on Common Equity (ROCE)	20.54%	30.43%	35.50%	3.65%	-11.04%	-13.64%	-0.05%	5.22%	28.71%	40.30%	51.50%
Return on Equity Simple (ROE_SIMPLE)	20.42%	31.16%	31.80%	4.23%	-10.87%	-8.67%	-0.06%	5.42%	26.38%	32.14%	43.92%
Net Operating Profit after Tax (NOPAT)	72	98	133	14	-49	-107	-1.58	168	661	1,398	2,067
NOPAT Margin	12.91%	15.01%	15.78%	1.18%	-3.38%	-4.67%	-0.04%	2.38%	6.13%	9.26%	9.95%
Net Nonoperating Expense Percent (NNEP)	0.30%	2.93%	1.09%	-0.19%	3.33%	-4.65%	0.03%	-5.85%	-25.35%	-26.76%	-5.13%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	9.31%	16.97%	18.86%
Cost of Revenue to Revenue	38.20%	44.71%	36.42%	40.85%	51.59%	52.00%	60.34%	63.64%	61.73%	56.71%	62.85%
SG&A Expenses to Revenue	11.21%	11.71%	10.34%	10.04%	9.57%	8.60%	8.23%	6.58%	6.13%	5.07%	4.63%
R&D to Revenue	0.00%	0.00%	11.66%	10.45%	10.16%	9.75%	8.88%	8.35%	10.19%	12.12%	9.31%
Operating Expenses to Revenue	40.16%	33.93%	42.14%	54.53%	53.24%	54.67%	36.44%	30.12%	28.35%	28.68%	24.49%
Earnings before Interest and Taxes (EBIT)	118	150	175	35	-51	-155	85	332	871	1,592	2,449
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	143	191	214	86	5.96	-64	205	612	1,396	2,229	3,180
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	15.68	14.78	16.04	42.65	39.32	14.34	50.58	43.56	23.30	25.87	19.81
Price to Tangible Book Value (P/TBV)	21.16	22.40	22.13	66.06	57.75	15.11	53.82	49.84	25.81	27.43	20.57
Price to Revenue (P/Rev)	10.03	7.70	8.15	11.42	9.20	12.38	21.02	9.43	3.95	5.26	4.15
Price to Earnings (P/E)	76.89	47.41	50.44	1,008.31	0.00	0.00	0.00	803.50	88.30	80.50	45.11
Dividend Yield	0.53%	0.36%	0.39%	0.19%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	1.30%	2.11%	1.98%	0.10%	0.00%	0.00%	0.00%	0.12%	1.13%	1.24%	2.22%
Enterprise Value to Invested Capital (EV/IC)	75.83	56.82	60.81	199.26	0.00	0.00	0.00	75.55	38.89	103.12	143.86
Enterprise Value to Revenue (EV/Rev)	9.50	7.30	7.76	11.20	8.87	11.41	20.45	9.34	3.88	5.11	3.97
Enterprise Value to EBITDA (EV/EBITDA)	36.99	24.92	30.56	157.74	2,143.41	0.00	396.49	107.90	29.95	34.60	25.92
Enterprise Value to EBIT (EV/EBIT)	44.76	31.64	37.33	393.51	0.00	0.00	956.24	198.90	48.00	48.45	33.66
Enterprise Value to NOPAT (EV/NOPAT)	73.57	48.60	49.17	950.43	0.00	0.00	0.00	392.24	63.29	55.16	39.87
Enterprise Value to Operating Cash Flow (EV/OCF)	26.87	21.48	34.43	50.67	55.31	58.11	68.76	68.43	14.22	15.01	10.41
Enterprise Value to Free Cash Flow (EV/FCFF)	48.42	56.70	60.00	253.95	84.99	0.00	217.86	0.00	90.97	44.71	36.76
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.80	0.87	0.73	1.13	2.18	0.48	1.00	2.54	2.89	1.68	1.52
Long-Term Debt to Equity	0.79	0.87	0.70	0.96	1.79	0.39	0.67	1.70	1.72	0.94	0.87
Financial Leverage	-0.75	-0.78	-0.75	-0.77	-1.09	-1.15	-1.23	-0.92	-0.42	-0.63	-0.82
Leverage Ratio	2.22	2.83	3.09	4.03	5.91	2.90	3.03	5.22	7.10	6.40	5.77
Compound Leverage Factor	2.29	2.84	3.26	6.29	7.54	2.01	2.89	3.79	6.36	6.24	5.73
Debt to Total Capital	44.37%	46.61%	42.23%	53.07%	68.59%	32.32%	50.02%	71.76%	74.26%	62.72%	60.30%
Short-Term Debt to Total Capital	0.26%	0.31%	1.56%	8.11%	12.40%	6.05%	16.60%	23.70%	30.02%	27.82%	25.80%
Long-Term Debt to Total Capital	44.12%	46.30%	40.67%	44.96%	56.18%	26.27%	33.42%	48.05%	44.25%	34.90%	34.50%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	3.21%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	55.63%	53.39%	57.77%	46.93%	31.41%	64.47%	49.98%	28.24%	25.74%	37.28%	39.70%
Debt to EBITDA	1.99	1.55	1.46	4.26	123.39	-15.43	8.06	6.36	3.78	2.32	2.08
Net Debt to EBITDA	-2.05	-1.36	-1.53	-3.06	-78.41	35.98	-11.04	-1.07	-0.54	-1.04	-1.19
Long-Term Debt to EBITDA	1.97	1.54	1.41	3.61	101.08	-12.54	5.39	4.26	2.25	1.29	1.19
Debt to NOPAT	3.95	3.03	2.35	25.69	-15.12	-9.27	-1,045.96	23.11	7.98	3.70	3.20
Net Debt to NOPAT	-4.08	-2.66	-2.46	-18.41	9.61	21.63	1,431.91	-3.90	-1.14	-1.66	-1.83
Long-Term Debt to NOPAT	3.93	3.01	2.27	21.76	-12.38	-7.54	-698.93	15.47	4.75	2.06	1.83
Altman Z-Score	7.27	6.56	6.26	7.66	5.24	7.30	11.32	5.81	3.44	4.79	4.01
Noncontrolling Interest Sharing Ratio	0.57%	0.00%	0.00%	0.00%	0.00%	4.09%	2.65%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.82	1.69	1.51	1.33	1.30	2.16	1.47	1.40	1.28	1.27	1.21
Quick Ratio	1.43	1.23	0.90	0.72	0.89	1.83	0.97	0.80	0.71	0.78	0.73
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	109	84	109	54	150	-1.19	373	-1,317	460	1,725	2,242
Operating Cash Flow to CapEx	571.64%	565.44%	277.64%	487.73%	247.92%	329.75%	478.54%	168.41%	646.15%	1,009.82%	920.70%
Free Cash Flow to Firm to Interest Expense	9.37	4.11	4.26	2.03	2.67	-0.02	3.49	-5.75	3.40	9.92	13.59
Operating Cash Flow to Interest Expense	16.88	10.86	7.43	10.16	4.11	6.85	11.05	4.21	21.78	29.54	47.99
Operating Cash Flow Less CapEx to Interest Expense	13.93	8.94	4.75	8.08	2.45	4.77	8.74	1.71	18.41	26.61	42.78
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.71	0.66	0.71	0.80	0.74	0.65	0.70	0.85	0.90	0.96	0.97
Accounts Receivable Turnover	15.34	17.36	31.35	45.39	45.47	65.05	93.36	95.73	94.56	105.64	101.10
Inventory Turnover	0.00	0.00	464.21	272.15	207.41	180.42	37.83	24.24	32.86	43.93	48.91
Fixed Asset Turnover	4.99	7.53	8.20	10.18	10.27	11.21	12.50	11.79	0.00	0.00	0.00
Accounts Payable Turnover	1.10	1.19	0.83	0.78	0.87	1.10	1.29	1.53	1.61	1.50	1.56
Days Sales Outstanding (DSO)	23.79	21.03	11.64	8.04	8.03	5.61	3.91	3.81	3.86	3.46	3.61
Days Inventory Outstanding (DIO)	0.00	0.00	0.79	1.34	1.76	2.02	9.65	15.06	11.11	8.31	7.46
Days Payable Outstanding (DPO)	331.80	305.81	439.78	470.08	420.69	332.25	283.81	239.00	226.95	243.68	233.99
Cash Conversion Cycle (CCC)	-308.01	-284.79	-427.35	-460.69	-410.90	-324.62	-270.25	-220.13	-211.99	-231.92	-222.91
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	70	84	108	68	-130	-237	-611	874	1,075	748	573
Invested Capital Turnover	6.30	8.50	8.82	13.81	-46.37	-12.51	-9.38	53.80	11.06	16.57	31.46
Increase / (Decrease) in Invested Capital	-37	14	24	-39	-199	-106	-375	1,485	201	-327	-175
Enterprise Value (EV)	5,287	4,756	6,551	13,631	12,770	26,211	81,280	66,033	41,810	77,133	82,430
Market Capitalization	5,580	5,016	6,879	13,895	13,238	28,431	83,543	66,690	42,562	79,456	86,208
Book Value per Share	$8.06	$7.69	$9.71	$7.38	$7.45	$39.89	$33.12	$30.96	$36.33	$60.74	$85.82
Tangible Book Value per Share	$5.97	$5.07	$7.04	$4.76	$5.07	$37.84	$31.13	$27.05	$32.79	$57.30	$82.65
Total Capital	640	636	742	694	1,072	3,076	3,304	5,421	7,099	8,238	10,960
Total Debt	284	296	314	368	735	994	1,653	3,890	5,272	5,167	6,609
Total Long-Term Debt	282	294	302	312	602	808	1,104	2,605	3,141	2,875	3,781
Net Debt	-293	-260	-328	-264	-467	-2,318	-2,263	-657	-752	-2,323	-3,778
Capital Expenditures (CapEx)	34	39	69	55	93	137	247	573	455	509	860
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-130	-144	-183	-222	-448	-826	-1,490	-835	-1,180	-2,039	-2,817
Debt-free Net Working Capital (DFNWC)	242	225	304	375	478	2,223	2,259	3,623	4,522	5,289	6,367
Net Working Capital (NWC)	240	223	293	319	345	2,037	1,711	2,338	2,391	2,997	3,539
Net Nonoperating Expense (NNE)	-0.79	-7.94	-3.14	0.56	-12	65	-0.58	85	179	411	156
Net Nonoperating Obligations (NNO)	-286	-256	-321	-257	-467	-2,318	-2,263	-657	-752	-2,323	-3,778
Total Depreciation and Amortization (D&A)	25	40	39	52	57	90	120	280	525	637	731
Debt-free, Cash-free Net Working Capital to Revenue	-23.39%	-22.14%	-21.67%	-18.29%	-31.15%	-35.97%	-37.50%	-11.81%	-10.95%	-13.50%	-13.56%
Debt-free Net Working Capital to Revenue	43.44%	34.47%	36.05%	30.84%	33.19%	96.79%	56.85%	51.25%	41.95%	35.01%	30.64%
Net Working Capital to Revenue	43.15%	34.17%	34.68%	26.21%	23.96%	88.69%	43.05%	33.07%	22.18%	19.84%	17.03%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.63	$2.40	$3.09	$0.31	($0.82)	$0.00	($0.08)	$1.67	$9.57	$19.64	$37.69
Adjusted Weighted Average Basic Shares Outstanding	44.15M	44.16M	44.16M	44.16M	44.53M	0.00	49.74M	49.80M	50.35M	50.26M	50.70M
Adjusted Diluted Earnings per Share	$1.63	$2.40	$3.09	$0.31	($0.82)	$0.00	($0.08)	$1.67	$9.53	$19.46	$37.69
Adjusted Weighted Average Diluted Shares Outstanding	44.15M	44.16M	44.16M	44.16M	44.53M	0.00	49.74M	49.80M	51.34M	51.01M	50.70M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	44.15M	44.16M	44.16M	44.16M	45.20M	0.00	49.87M	50.42M	50.26M	50.70M	50.70M
Normalized Net Operating Profit after Tax (NOPAT)	101	109	143	41	-49	-107	90	309	661	1,398	2,067
Normalized NOPAT Margin	18.22%	16.76%	16.97%	3.40%	-3.38%	-4.67%	2.25%	4.37%	6.13%	9.26%	9.95%
Pre Tax Income Margin	21.88%	23.09%	21.95%	4.44%	-4.55%	-4.67%	2.04%	3.41%	7.24%	10.28%	11.71%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	10.13	7.37	6.85	1.31	-0.91	-2.35	0.79	1.45	6.45	9.15	14.84
NOPAT to Interest Expense	6.16	4.80	5.20	0.54	-0.86	-1.63	-0.01	0.74	4.89	8.04	12.53
EBIT Less CapEx to Interest Expense	7.18	5.45	4.18	-0.78	-2.57	-4.43	-1.51	-1.05	3.08	6.22	9.63
NOPAT Less CapEx to Interest Expense	3.21	2.88	2.53	-1.54	-2.52	-3.70	-2.32	-1.77	1.52	5.11	7.32
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	38.96%	19.83%	17.91%	192.28%	-18.11%	-1.65%	-300.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	41.63%	22.39%	17.91%	192.28%	-18.11%	-2.07%	-5,700.00%	585.54%	30.71%	36.07%	0.05%

This table displays calculated financial ratios and metrics derived from MercadoLibre's official financial filings.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	52.35%	41.73%	38.04%	45.99%	35.87%	36.00%	41.51%	35.27%	37.42%	36.97%	33.85%
EBITDA Growth	781.63%	95.77%	68.32%	114.33%	-8.10%	36.74%	25.88%	4.20%	141.31%	39.41%	21.20%
EBIT Growth	1,069.70%	143.38%	156.32%	142.67%	-28.75%	49.24%	37.17%	-5.31%	237.72%	43.32%	5.99%
NOPAT Growth	1,117.07%	217.75%	95.26%	175.20%	17.54%	46.00%	55.41%	-19.87%	185.75%	41.38%	4.42%
Net Income Growth	458.70%	209.23%	113.01%	178.29%	0.00%	71.14%	102.67%	10.59%	287.27%	43.60%	-1.51%
EPS Growth	444.68%	205.38%	112.35%	179.69%	-2.16%	70.78%	103.10%	9.36%	297.48%	43.66%	-1.62%
Operating Cash Flow Growth	119.97%	468.67%	55.68%	29.97%	25.03%	76.02%	33.29%	70.03%	51.66%	-31.81%	54.99%
Free Cash Flow Firm Growth	100.24%	157.24%	184.57%	199.61%	16,261.09%	-44.91%	-53.48%	-56.81%	51.89%	-132.68%	-129.40%
Invested Capital Growth	23.00%	-48.46%	-61.55%	-44.19%	-30.42%	-30.80%	-24.06%	-16.13%	-23.40%	99.35%	136.12%
Revenue Q/Q Growth	20.63%	6.13%	12.52%	9.54%	12.27%	9.92%	17.08%	4.71%	14.06%	-2.05%	14.41%
EBITDA Q/Q Growth	44.00%	23.24%	33.60%	-5.44%	-38.26%	461.29%	22.99%	-21.73%	42.99%	-1.04%	6.75%
EBIT Q/Q Growth	42.22%	16.14%	47.13%	12.12%	-58.24%	982.14%	35.22%	-22.60%	48.94%	-8.05%	0.00%
NOPAT Q/Q Growth	6.03%	39.18%	43.58%	42.92%	-54.72%	932.10%	52.83%	-26.31%	61.49%	-22.26%	12.87%
Net Income Q/Q Growth	27.91%	21.82%	30.35%	37.02%	-54.04%	108.48%	54.36%	-25.24%	60.96%	-22.69%	5.87%
EPS Q/Q Growth	26.56%	22.53%	29.97%	38.76%	-55.73%	113.88%	54.57%	-25.29%	60.92%	-22.70%	5.85%
Operating Cash Flow Q/Q Growth	112.98%	-44.29%	64.38%	-33.36%	104.89%	-21.58%	24.47%	-14.98%	82.75%	-64.74%	182.93%
Free Cash Flow Firm Q/Q Growth	100.25%	8,746.93%	26.21%	-16.05%	-59.18%	98.75%	6.57%	-22.06%	43.56%	-127.40%	4.12%
Invested Capital Q/Q Growth	-44.70%	4.19%	-28.39%	35.29%	-31.06%	3.61%	-21.42%	49.43%	-37.03%	169.63%	-6.93%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	31.16%	42.75%	51.07%	46.29%	34.68%	38.08%	37.75%	36.37%	36.67%	36.53%	35.41%
EBITDA Margin	13.31%	15.98%	18.97%	16.37%	9.00%	16.06%	16.87%	12.61%	15.81%	15.97%	14.90%
Operating Margin	11.83%	13.12%	18.66%	19.99%	7.60%	12.19%	14.31%	10.49%	13.53%	12.86%	12.15%
EBIT Margin	9.86%	10.39%	13.58%	13.90%	5.17%	11.40%	13.17%	9.73%	12.71%	11.93%	10.43%
Profit (Net Income) Margin	5.08%	6.31%	7.31%	9.14%	3.74%	7.94%	10.47%	7.47%	10.55%	8.32%	7.70%
Tax Burden Percent	53.57%	62.81%	55.51%	67.61%	71.74%	71.52%	79.49%	76.35%	83.75%	69.97%	73.04%
Interest Burden Percent	96.25%	96.68%	96.92%	97.25%	100.88%	97.37%	100.00%	100.58%	99.09%	99.72%	101.13%
Effective Tax Rate	46.75%	38.13%	44.49%	32.39%	28.26%	28.48%	20.51%	23.65%	16.25%	30.03%	26.96%
Return on Invested Capital (ROIC)	69.70%	56.58%	89.40%	122.25%	90.34%	143.67%	275.86%	148.42%	356.53%	173.54%	208.94%
ROIC Less NNEP Spread (ROIC-NNEP)	75.30%	90.88%	112.57%	147.83%	95.24%	145.57%	277.91%	149.61%	358.10%	174.86%	211.12%
Return on Net Nonoperating Assets (RNNOA)	-31.60%	-8.41%	-27.73%	-45.41%	-59.79%	-94.77%	-211.54%	-105.34%	-294.36%	-126.53%	-164.99%
Return on Equity (ROE)	38.10%	48.16%	61.67%	76.84%	30.55%	48.90%	64.32%	43.07%	62.17%	47.02%	43.95%
Cash Return on Invested Capital (CROIC)	47.16%	113.54%	158.50%	145.10%	189.29%	170.91%	233.96%	151.21%	339.50%	125.27%	138.87%
Operating Return on Assets (OROA)	8.92%	9.45%	12.69%	13.56%	4.98%	10.71%	12.77%	9.29%	12.34%	11.42%	9.49%
Return on Assets (ROA)	4.60%	5.74%	6.83%	8.92%	3.61%	7.46%	10.15%	7.13%	10.24%	7.97%	7.01%
Return on Common Equity (ROCE)	38.10%	48.16%	61.67%	76.84%	30.55%	48.90%	64.32%	43.07%	62.17%	47.02%	43.95%
Return on Equity Simple (ROE_SIMPLE)	0.00%	30.29%	33.61%	36.01%	0.00%	33.33%	38.27%	35.91%	0.00%	41.19%	0.00%
Net Operating Profit after Tax (NOPAT)	204	259	371	531	240	378	577	425	687	534	603
NOPAT Margin	6.30%	8.12%	10.36%	13.51%	5.45%	8.71%	11.38%	8.01%	11.33%	9.00%	8.88%
Net Nonoperating Expense Percent (NNEP)	-5.60%	-34.31%	-23.17%	-25.57%	-4.90%	-1.90%	-2.05%	-1.19%	-1.56%	-1.31%	-2.17%
Return On Investment Capital (ROIC_SIMPLE)	2.88%	-	-	-	2.92%	-	-	-	6.27%	4.29%	4.20%
Cost of Revenue to Revenue	68.84%	57.25%	55.12%	53.71%	60.29%	61.92%	62.25%	63.63%	63.33%	63.47%	64.60%
SG&A Expenses to Revenue	5.42%	5.65%	5.27%	4.99%	4.56%	4.29%	4.30%	5.74%	4.19%	4.30%	3.84%
R&D to Revenue	10.02%	11.96%	10.27%	10.08%	15.56%	10.57%	9.07%	9.49%	8.45%	9.28%	8.35%
Operating Expenses to Revenue	19.32%	29.63%	26.22%	26.31%	32.12%	25.89%	23.44%	25.88%	23.14%	23.67%	23.25%
Earnings before Interest and Taxes (EBIT)	320	331	487	546	228	494	668	517	770	708	708
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	432	509	680	643	397	696	856	670	958	948	1,012
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	23.30	32.47	26.41	23.17	25.87	22.55	22.79	25.99	19.81	19.77	23.19
Price to Tangible Book Value (P/TBV)	25.81	35.69	28.82	24.80	27.43	23.74	23.85	27.08	20.57	20.56	24.03
Price to Revenue (P/Rev)	3.95	5.77	4.77	4.64	5.26	4.89	4.87	5.63	4.15	4.42	5.50
Price to Earnings (P/E)	88.30	107.19	78.57	64.35	80.50	67.65	59.55	72.39	45.11	47.99	64.54
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	1.13%	0.93%	1.27%	1.55%	1.24%	1.48%	1.68%	1.38%	2.22%	2.08%	1.55%
Enterprise Value to Invested Capital (EV/IC)	38.89	58.32	72.35	57.01	103.12	95.26	131.80	110.92	143.86	61.78	89.17
Enterprise Value to Revenue (EV/Rev)	3.88	5.69	4.66	4.52	5.11	4.73	4.69	5.46	3.97	4.26	5.32
Enterprise Value to EBITDA (EV/EBITDA)	29.95	40.17	30.51	27.55	34.60	36.14	36.17	44.94	25.92	27.68	35.37
Enterprise Value to EBIT (EV/EBIT)	48.00	63.36	43.69	37.51	48.45	53.85	51.72	66.28	33.66	35.84	47.44
Enterprise Value to NOPAT (EV/NOPAT)	63.29	80.01	57.75	46.21	55.16	57.93	55.07	75.70	39.87	42.93	56.98
Enterprise Value to Operating Cash Flow (EV/OCF)	14.22	16.20	12.79	13.01	15.01	12.74	12.82	14.58	10.41	12.83	15.14
Enterprise Value to Free Cash Flow (EV/FCFF)	90.97	34.94	25.35	28.15	44.71	45.59	48.63	66.92	36.76	65.68	90.22
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	2.89	2.63	2.38	1.85	1.68	1.51	1.44	1.53	1.52	1.49	1.51
Long-Term Debt to Equity	1.72	1.48	1.37	1.02	0.94	0.85	0.84	0.97	0.87	0.77	0.84
Financial Leverage	-0.42	-0.09	-0.25	-0.31	-0.63	-0.65	-0.76	-0.70	-0.82	-0.72	-0.78
Leverage Ratio	7.10	6.95	6.97	6.42	6.40	6.13	5.97	5.75	5.77	5.57	5.65
Compound Leverage Factor	6.83	6.72	6.75	6.25	6.46	5.96	5.97	5.78	5.72	5.55	5.72
Debt to Total Capital	74.26%	72.44%	70.42%	64.90%	62.72%	60.18%	59.02%	60.47%	60.30%	59.79%	60.18%
Short-Term Debt to Total Capital	30.02%	31.51%	30.02%	29.09%	27.82%	26.38%	24.69%	22.22%	25.80%	28.68%	26.61%
Long-Term Debt to Total Capital	44.25%	40.93%	40.40%	35.81%	34.90%	33.80%	34.32%	38.25%	34.50%	31.12%	33.57%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	25.74%	27.56%	29.58%	35.10%	37.28%	39.82%	40.98%	39.53%	39.70%	40.21%	39.82%
Debt to EBITDA	3.78	3.30	2.82	2.26	2.32	2.51	2.37	2.73	2.08	2.16	2.38
Net Debt to EBITDA	-0.54	-0.57	-0.76	-0.74	-1.04	-1.28	-1.37	-1.38	-1.19	-1.00	-1.18
Long-Term Debt to EBITDA	2.25	1.86	1.62	1.25	1.29	1.41	1.38	1.72	1.19	1.12	1.33
Debt to NOPAT	7.98	6.57	5.34	3.79	3.70	4.02	3.61	4.59	3.20	3.35	3.84
Net Debt to NOPAT	-1.14	-1.13	-1.44	-1.24	-1.66	-2.05	-2.09	-2.32	-1.83	-1.56	-1.90
Long-Term Debt to NOPAT	4.75	3.71	3.06	2.09	2.06	2.26	2.10	2.90	1.83	1.74	2.14
Altman Z-Score	3.31	4.48	4.01	4.16	4.53	4.20	4.42	4.63	3.79	3.89	4.08
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.28	1.28	1.28	1.27	1.27	1.27	1.28	1.25	1.21	1.20	1.20
Quick Ratio	0.71	0.75	0.72	0.78	0.78	0.78	0.81	0.78	0.73	0.77	0.67
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	3.47	1,312	1,655	1,390	567	723	770	600	862	-236	-226
Operating Cash Flow to CapEx	1,364.60%	965.17%	1,238.60%	746.83%	1,071.11%	1,035.62%	1,028.42%	720.72%	946.28%	379.04%	1,016.38%
Free Cash Flow to Firm to Interest Expense	0.00	38.58	33.78	26.22	14.93	19.02	19.75	15.01	17.95	-6.05	-6.29
Operating Cash Flow to Interest Expense	0.00	25.26	28.82	17.75	50.74	39.79	48.26	40.00	60.92	26.44	81.03
Operating Cash Flow Less CapEx to Interest Expense	0.00	22.65	26.49	15.38	46.00	35.95	43.56	34.45	54.48	19.46	73.06
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.90	0.91	0.93	0.98	0.96	0.94	0.97	0.95	0.97	0.96	0.91
Accounts Receivable Turnover	94.56	99.78	95.14	101.86	105.64	103.44	97.76	98.11	101.10	103.85	95.81
Inventory Turnover	32.86	32.40	35.59	39.09	43.93	43.49	42.02	40.95	48.91	48.68	44.49
Fixed Asset Turnover	0.00	11.46	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Accounts Payable Turnover	1.61	1.70	1.62	1.65	1.50	1.52	1.53	1.58	1.56	1.57	1.45
Days Sales Outstanding (DSO)	3.86	3.66	3.84	3.58	3.46	3.53	3.73	3.72	3.61	3.51	3.81
Days Inventory Outstanding (DIO)	11.11	11.26	10.26	9.34	8.31	8.39	8.69	8.91	7.46	7.50	8.20
Days Payable Outstanding (DPO)	226.95	215.01	225.78	221.69	243.68	240.89	238.26	231.01	233.99	232.07	251.87
Cash Conversion Cycle (CCC)	-211.99	-200.09	-211.68	-208.77	-231.92	-228.97	-225.85	-218.37	-222.91	-221.05	-239.85
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,075	1,120	802	1,085	748	775	609	910	573	1,545	1,438
Invested Capital Turnover	11.06	6.97	8.63	9.05	16.57	16.49	24.25	18.54	31.46	19.29	23.54
Increase / (Decrease) in Invested Capital	201	-1,053	-1,284	-859	-327	-345	-193	-175	-175	770	829
Enterprise Value (EV)	41,810	65,323	58,026	61,855	77,133	73,829	80,269	100,937	82,430	95,445	128,229
Market Capitalization	42,562	66,243	59,476	63,511	79,456	76,444	83,316	104,029	86,208	98,904	132,504
Book Value per Share	$36.33	$40.59	$44.85	$54.72	$60.74	$66.87	$72.11	$78.94	$85.82	$98.70	$112.69
Tangible Book Value per Share	$32.79	$36.93	$41.11	$51.13	$57.30	$63.51	$68.92	$75.76	$82.65	$94.88	$108.76
Total Capital	7,099	7,401	7,614	7,810	8,238	8,513	8,921	10,125	10,960	12,446	14,348
Total Debt	5,272	5,361	5,362	5,069	5,167	5,123	5,265	6,123	6,609	7,442	8,635
Total Long-Term Debt	3,141	3,029	3,076	2,797	2,875	2,877	3,062	3,873	3,781	3,873	4,817
Net Debt	-752	-920	-1,450	-1,656	-2,323	-2,615	-3,047	-3,092	-3,778	-3,459	-4,275
Capital Expenditures (CapEx)	113	89	114	126	180	146	183	222	309	272	287
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-1,180	-1,162	-1,703	-1,560	-2,039	-1,994	-2,128	-2,228	-2,817	-2,336	-3,392
Debt-free Net Working Capital (DFNWC)	4,522	4,841	4,960	5,016	5,289	5,495	5,768	5,761	6,367	7,244	8,130
Net Working Capital (NWC)	2,391	2,509	2,674	2,744	2,997	3,249	3,565	3,511	3,539	3,675	4,312
Net Nonoperating Expense (NNE)	39	58	109	172	75	34	46	28	48	40	80
Net Nonoperating Obligations (NNO)	-752	-920	-1,450	-1,656	-2,323	-2,615	-3,047	-3,092	-3,778	-3,459	-4,275
Total Depreciation and Amortization (D&A)	112	178	193	97	169	202	188	153	188	240	304
Debt-free, Cash-free Net Working Capital to Revenue	-10.95%	-10.13%	-13.66%	-11.39%	-13.50%	-12.77%	-12.44%	-12.05%	-13.56%	-10.44%	-14.08%
Debt-free Net Working Capital to Revenue	41.95%	42.19%	39.80%	36.61%	35.01%	35.18%	33.72%	31.15%	30.64%	32.37%	33.74%
Net Working Capital to Revenue	22.18%	21.86%	21.46%	20.03%	19.84%	20.80%	20.84%	18.99%	17.03%	16.42%	17.90%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$3.27	$4.01	$5.22	$7.18	$3.23	$6.78	$10.48	$7.83	$12.60	$9.74	$10.31
Adjusted Weighted Average Basic Shares Outstanding	50.35M	50.25M	50.16M	50.01M	50.26M	50.70M	50.70M	50.70M	50.70M	50.70M	50.70M
Adjusted Diluted Earnings per Share	$3.24	$3.97	$5.16	$7.16	$3.17	$6.78	$10.48	$7.83	$12.60	$9.74	$10.31
Adjusted Weighted Average Diluted Shares Outstanding	51.34M	51.24M	51.15M	50.21M	51.01M	50.70M	50.70M	50.70M	50.70M	50.70M	50.70M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	50.26M	50.21M	50.09M	50.56M	50.70M	50.70M	50.70M	50.70M	50.70M	50.70M	50.70M
Normalized Net Operating Profit after Tax (NOPAT)	204	259	371	531	240	378	577	425	687	534	603
Normalized NOPAT Margin	6.30%	8.12%	10.36%	13.51%	5.45%	8.71%	11.38%	8.01%	11.33%	9.00%	8.88%
Pre Tax Income Margin	9.49%	10.04%	13.17%	13.52%	5.22%	11.10%	13.17%	9.79%	12.59%	11.90%	10.54%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	9.74	9.94	10.30	6.00	13.00	17.13	12.93	16.04	18.15	19.67
NOPAT to Interest Expense	0.00	7.61	7.58	10.01	6.32	9.94	14.80	10.63	14.31	13.69	16.74
EBIT Less CapEx to Interest Expense	0.00	7.12	7.61	7.92	1.26	9.16	12.44	7.38	9.60	11.18	11.69
NOPAT Less CapEx to Interest Expense	0.00	4.99	5.25	7.64	1.59	6.10	10.11	5.08	7.87	6.72	8.77
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	30.71%	27.51%	37.12%	39.41%	36.07%	26.11%	10.72%	0.07%	0.05%	0.00%	0.00%

Key Financial Trends

MercadoLibre Inc. (NASDAQ: MELI) has demonstrated strong financial growth and improving profitability over the last four years, with notable performance in the most recent quarters through Q2 2025. Here's an overview of key trends and financial highlights:

Revenue Growth: Operating revenue has steadily increased from approximately $3.19 billion in Q1 2023 to $6.79 billion in Q2 2025, more than doubling in just over two years. This strong top-line growth reflects expanding market presence and customer adoption.
Improved Profitability: Net income has grown significantly, rising from $201 million in Q1 2023 to $523 million in Q2 2025. Basic and diluted earnings per share increased from $4.01 and $3.97 respectively in Q1 2024 to over $10 in Q2 2025, showcasing enhanced profit margins.
Healthy Cash Flow from Operations: Cash generated from operating activities reached $2.92 billion in Q2 2025, up from $859 million in Q1 2023. Strong cash flow generation supports the company’s investments and debt management.
Consistent Investment in Growth: MercadoLibre has actively invested in property, plant, and equipment, averaging around $150-300 million quarterly, indicating commitment to infrastructure. Investments in securities remain elevated, reflecting diversification and liquidity management.
Debt Management: The company has maintained a sizable but controlled level of debt, balancing repayments and issuances, with net cash from financing activities positive at $613 million in Q2 2025, indicating prudent capital structure management.
Stable Gross Margins: Gross profit margins have improved moderately, with total gross profit growing from approximately $1.36 billion in Q1 2023 to $2.40 billion in Q2 2025. Cost of revenue has increased but remains proportionate to revenue growth.
Operating Expenses: Selling, general and administrative expenses, marketing, and R&D expenses have increased in absolute terms but represent a relatively stable portion of revenues. This suggests balanced growth in functional spending to support expansion.
Exchange Rate Impact: The net effect of exchange rate changes on cash balances has fluctuated quarter to quarter, sometimes adding or reducing cash equivalents. While this does not impact operating performance directly, it introduces currency risk management considerations.
Rising Accounts Payable and Current Liabilities: Accounts payable increased from $4.85 billion in Q1 2023 to $13.25 billion in Q2 2025, and total current liabilities rose concomitantly. While this supports operational activities, increased liabilities require ongoing monitoring for timing and maturity structures.
Negative Other Income / Expense Items: The company reports consistent negative net other income/expense, including investment income and other miscellaneous expenses. These recurring charges modestly dampen pre-tax income and may warrant scrutiny for underlying causes.

Summary: MercadoLibre’s financial statements over the past several years highlight robust revenue and earnings growth, strong operational cash flow, and disciplined capital deployment supporting expansion. Although liabilities have increased and other expenses persist, the company shows strength in scaling its core business while managing debt and investments. Retail investors should note the strong earnings momentum and improving profitability as key positives, balanced with cautious monitoring of liabilities and non-operational expenses.

08/30/25 04:24 PM ETAI Generated. May Contain Errors.

Financials Breakdown Chart

Frequently Asked Questions About MercadoLibre's Financials

When does MercadoLibre's financial year end?

According to the most recent income statement we have on file, MercadoLibre's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has MercadoLibre's net income changed over the last 10 years?

MercadoLibre's net income appears to be on an upward trend, with a most recent value of $1.91 billion in 2024, rising from $72.65 million in 2014. The previous period was $987 million in 2023. Check out MercadoLibre's forecast to explore projected trends and price targets.

What is MercadoLibre's operating income?

MercadoLibre's total operating income in 2024 was $2.63 billion, based on the following breakdown:

Total Gross Profit: $7.72 billion
Total Operating Expenses: $5.09 billion

How has MercadoLibre's revenue changed over the last 10 years?

Over the last 10 years, MercadoLibre's total revenue changed from $556.54 million in 2014 to $20.78 billion in 2024, a change of 3,633.3%.

How much debt does MercadoLibre have?

MercadoLibre's total liabilities were at $20.85 billion at the end of 2024, a 43.4% increase from 2023, and a 3,311.3% increase since 2014.

How much cash does MercadoLibre have?

In the past 10 years, MercadoLibre's cash and equivalents has ranged from $166.88 million in 2015 to $2.64 billion in 2024, and is currently $2.64 billion as of their latest financial filing in 2024.

How has MercadoLibre's book value per share changed over the last 10 years?

Over the last 10 years, MercadoLibre's book value per share changed from 8.06 in 2014 to 85.82 in 2024, a change of 965.1%.

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This page (NASDAQ:MELI) was last updated on 8/30/2025 by MarketBeat.com Staff

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MercadoLibre (MELI) Financials

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MercadoLibre (MELI) Financials

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