MercadoLibre (MELI) Financials

$1,540.29 -92.23 (-5.65%)

As of 02:16 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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	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	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	106	136	14	-37	-172	-1.00	83	482	987	1,911	1,997
Consolidated Net Income / (Loss)	106	136	14	-37	-172	-1.00	83	482	987	1,911	1,997
Net Income / (Loss) Continuing Operations	106	136	14	-37	-172	-1.00	83	482	987	1,911	1,997
Total Pre-Tax Income	150	185	54	-65	-107	81	241	780	1,553	2,432	2,842
Total Operating Income	139	181	56	-69	-153	128	441	1,069	2,207	2,631	3,201
Total Gross Profit	360	537	720	697	1,102	1,576	2,570	4,125	6,540	7,719	9,767
Total Revenue	652	844	1,217	1,440	2,296	3,974	7,069	10,780	15,107	20,777	28,893
Operating Revenue	652	844	1,217	1,440	2,296	3,974	7,069	10,780	15,107	20,777	28,893
Total Cost of Revenue	291	308	497	743	1,194	2,398	4,499	6,655	8,567	13,058	19,126
Operating Cost of Revenue	291	308	497	743	1,194	2,265	4,064	5,582	7,517	11,200	16,035
Other Cost of Revenue	-	-	-	-	-	133	435	1,073	1,050	1,858	3,091
Total Operating Expenses	221	356	663	766	1,255	1,448	2,129	3,056	4,333	5,088	6,566
Selling, General & Admin Expense	76	87	122	138	197	327	465	661	766	963	1,078
Marketing Expense	129	156	325	482	834	768	1,074	1,296	1,736	2,191	3,219
Research & Development Expense	-	98	127	146	224	353	590	1,099	1,831	1,934	2,269
Total Other Income / (Expense), net	11	4.27	-2.20	4.03	46	-47	-200	-289	-654	-199	-359
Interest Expense	20	26	26	56	66	107	229	135	174	165	160
Interest & Investment Income	21	35	46	42	114	103	138	44	135	148	138
Other Income / (Expense), net	11	-5.57	-22	18	-1.73	-43	-109	-198	-615	-182	-337
Income Tax Expense	45	49	40	-29	65	82	149	298	569	521	845
Other Gains / (Losses), net	-	-	-	-	0.00	0.00	-9.00	0.00	3.00	0.00	0.00
Basic Earnings per Share	$2.40	$3.09	$0.31	($0.82)	($3.71)	($0.08)	$1.67	$9.57	$19.64	$37.69	$39.40
Weighted Average Basic Shares Outstanding	44.16M	44.16M	44.16M	44.53M	48.69M	49.74M	49.80M	50.35M	50.26M	50.70M	50.70M
Diluted Earnings per Share	$2.40	$3.09	$0.31	($0.82)	($3.71)	($0.08)	$1.67	$9.53	$19.46	$37.69	$39.40
Weighted Average Diluted Shares Outstanding	44.16M	44.16M	44.16M	44.53M	48.69M	49.74M	49.80M	51.34M	51.01M	50.70M	50.70M
Weighted Average Basic & Diluted Shares Outstanding	44.10M	44.10M	44.50M	44.60M	49.71M	49.87M	50.42M	50.26M	50.70M	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	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	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	9/30/2025	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	262	359	165	344	531	397	639	494	523	421	559
Consolidated Net Income / (Loss)	262	359	165	344	531	397	639	494	523	421	559
Net Income / (Loss) Continuing Operations	262	359	165	344	531	397	639	494	523	421	559
Total Pre-Tax Income	472	531	230	481	668	520	763	706	716	636	784
Total Operating Income	669	785	335	528	726	557	820	763	825	724	889
Total Gross Profit	1,831	1,818	1,529	1,650	1,915	1,932	2,222	2,168	2,404	2,394	2,801
Total Revenue	3,585	3,927	4,409	4,333	5,073	5,312	6,059	5,935	6,790	7,409	8,759
Operating Revenue	3,585	3,927	4,409	4,333	5,073	5,312	6,059	5,935	6,790	7,409	8,759
Total Cost of Revenue	1,976	2,109	2,658	2,683	3,158	3,380	3,837	3,767	4,386	5,015	5,958
Operating Cost of Revenue	1,754	1,832	2,359	2,309	2,708	2,873	3,310	3,164	3,696	4,200	4,975
Other Cost of Revenue	222	277	299	374	450	507	527	603	690	815	983
Total Operating Expenses	940	1,033	1,416	1,122	1,189	1,375	1,402	1,405	1,579	1,670	1,912
Selling, General & Admin Expense	189	196	201	186	218	305	254	255	261	270	292
Marketing Expense	383	441	529	478	511	566	636	599	751	833	1,036
Research & Development Expense	368	396	686	458	460	504	512	551	567	567	584
Total Other Income / (Expense), net	-197	-254	-105	-47	-58	-37	-57	-57	-109	-88	-105
Interest Expense	49	53	38	38	39	40	48	39	36	35	50
Interest & Investment Income	34	38	40	25	39	43	41	37	44	49	8.00
Other Income / (Expense), net	-182	-239	-107	-34	-58	-40	-50	-55	-117	-102	-63
Income Tax Expense	210	172	65	137	137	123	124	212	193	215	225
Basic Earnings per Share	$5.22	$7.18	$3.23	$6.78	$10.48	$7.83	$12.60	$9.74	$10.31	$8.32	$11.03
Weighted Average Basic Shares Outstanding	50.16M	50.01M	50.26M	50.70M	50.70M	50.70M	50.70M	50.70M	50.70M	50.70M	50.70M
Diluted Earnings per Share	$5.16	$7.16	$3.17	$6.78	$10.48	$7.83	$12.60	$9.74	$10.31	$8.32	$11.03
Weighted Average Diluted Shares Outstanding	51.15M	50.21M	51.01M	50.70M	50.70M	50.70M	50.70M	50.70M	50.70M	50.70M	50.70M
Weighted Average Basic & Diluted Shares Outstanding	50.09M	50.56M	50.70M	50.70M	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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	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	12/31/2025
Net Change in Cash & Equivalents	-56	86	195	167	987	1,057	1,140	-15	1,423	1,590	8,841
Net Cash From Operating Activities	221	190	269	231	451	1,182	965	2,940	5,140	7,918	12,116
Net Cash From Continuing Operating Activities	221	190	269	231	451	1,182	965	2,940	5,140	7,918	12,116
Net Income / (Loss) Continuing Operations	106	136	14	-37	-172	-1.00	83	482	987	1,911	1,997
Consolidated Net Income / (Loss)	106	136	14	-37	-172	-1.00	83	482	987	1,911	1,997
Depreciation Expense	23	29	41	46	73	105	204	403	524	617	818
Amortization Expense	17	9.84	11	11	17	15	76	122	113	114	396
Non-Cash Adjustments To Reconcile Net Income	28	24	133	21	112	348	686	1,596	1,798	2,556	2,926
Changes in Operating Assets and Liabilities, net	47	-8.84	71	189	421	715	-84	337	1,718	2,720	5,979
Net Cash From Investing Activities	-184	-84	-23	-672	-1,448	-252	-1,597	-3,871	-3,450	-8,287	-6,179
Net Cash From Continuing Investing Activities	-184	-84	-23	-672	-1,448	-252	-1,597	-3,871	-3,450	-8,287	-6,179
Purchase of Property, Plant & Equipment	-39	-69	-55	-93	-137	-247	-573	-455	-509	-860	-1,343
Acquisitions	-47	-7.72	-36	-4.39	-0.07	-7.00	-92	0.00	0.00	-6.00	0.00
Purchase of Investments	-1,950	-3,501	-4,554	-3,176	-4,491	-5,204	-7,391	-12,739	-18,994	-16,724	-14,845
Divestitures	-	-	-	-	-	-	-	-	0.00	0.00	75
Sale and/or Maturity of Investments	1,876	3,508	4,714	2,663	3,354	5,551	7,807	11,024	18,100	13,991	16,593
Other Investing Activities, net	-23	-15	-92	-62	-174	-345	-1,348	-1,701	-2,047	-4,688	-6,659
Net Cash From Financing Activities	-28	-20	-51	609	2,021	242	1,925	916	-267	1,959	2,904
Net Cash From Continuing Financing Activities	-28	-20	-51	609	2,021	242	1,925	916	-267	1,959	2,904
Repayment of Debt	-9.06	-6.68	-5.00	-488	-473	-1,785	-8,647	-15,933	-24,841	-17,461	-41,088
Repurchase of Common Equity	-2.71	-	0.00	0.00	-0.72	-54	-486	-148	-356	-1.00	-1.00
Issuance of Debt	5.03	11	48	1,117	630	2,396	9,262	17,017	24,963	19,472	44,050
Other Financing Activities, net	-	-	-67	-13	-98	-312	276	-20	-33	-51	-57
Cash Interest Paid	7.98	8.06	7.73	20	41	54	58	247	608	456	611
Cash Income Taxes Paid	66	74	111	99	95	140	282	437	651	1,052	1,013

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	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	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	9/30/2025	12/31/2025
Net Change in Cash & Equivalents	300	-568	1,530	-30	5.00	-345	1,960	-201	2,390	2,311	4,341
Net Cash From Operating Activities	1,412	941	1,928	1,512	1,882	1,600	2,924	1,031	2,917	2,959	5,209
Net Cash From Continuing Operating Activities	1,415	941	1,925	1,512	1,894	1,598	2,914	1,031	2,917	2,959	5,209
Net Income / (Loss) Continuing Operations	262	359	165	344	531	397	639	494	523	421	559
Consolidated Net Income / (Loss)	262	359	165	344	531	397	639	494	523	421	559
Depreciation Expense	128	135	135	154	154	157	152	172	199	209	238
Amortization Expense	65	-38	34	32	34	-4.00	36	68	105	98	125
Non-Cash Adjustments To Reconcile Net Income	903	322	415	1,069	566	742	2,297	776	1,796	2,027	-1,673
Changes in Operating Assets and Liabilities, net	57	163	1,176	-87	609	306	-210	-479	294	204	5,960
Net Cash From Investing Activities	-668	-1,330	-914	-1,466	-2,085	-2,608	-2,128	-1,842	-1,225	-1,111	-2,001
Net Cash From Continuing Investing Activities	-668	-1,330	-914	-1,466	-2,085	-2,608	-2,128	-1,842	-1,225	-1,111	-2,001
Purchase of Property, Plant & Equipment	-114	-126	-180	-148	-183	-222	-309	-272	-287	-357	-427
Purchase of Investments	-4,928	-5,529	-3,405	-4,100	-4,623	-3,672	-4,329	-4,242	-2,215	-3,464	-4,924
Sale and/or Maturity of Investments	4,819	4,924	3,253	3,728	3,766	2,613	3,884	3,907	2,898	4,440	5,348
Other Investing Activities, net	-445	-599	-582	-946	-1,044	-1,326	-1,372	-1,235	-1,621	-1,730	-2,073
Net Cash From Financing Activities	-360	132	73	0.00	476	726	757	465	613	444	1,382
Net Cash From Continuing Financing Activities	-360	132	73	0.00	476	726	757	465	613	444	1,382
Repayment of Debt	-6,547	-6,784	-5,488	-3,506	-3,314	-4,514	-6,127	-8,453	-9,168	-11,519	-11,948
Issuance of Debt	6,340	7,073	5,573	3,519	3,804	5,252	6,897	8,931	9,794	11,978	13,347
Other Financing Activities, net	-7.00	-8.00	-12	-13	-13	-12	-13	-13	-13	-14	-17

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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	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	12/31/2025
Total Assets	1,004	1,367	1,673	2,240	4,782	6,526	10,101	13,736	17,612	25,196	42,667
Total Current Assets	545	869	1,287	1,511	3,789	5,347	8,175	10,953	14,260	20,142	33,573
Cash & Equivalents	167	234	388	440	1,385	1,856	2,585	1,910	2,556	2,635	3,670
Restricted Cash	-	-	-	24	67	652	1,063	1,453	1,292	2,064	9,867
Short-Term Investments	202	253	209	462	1,597	1,241	810	2,339	3,480	4,485	2,629
Note & Lease Receivable	-	6.28	73	96	182	385	1,199	1,704	2,629	4,716	8,855
Accounts Receivable	28	25	28	35	35	50	98	130	156	255	369
Inventories, net	0.22	1.10	2.55	4.61	8.63	118	253	152	238	296	570
Other Current Assets	142	334	579	422	469	1,016	2,127	3,265	3,909	5,691	7,613
Plant, Property, & Equipment, net	82	124	115	166	244	392	807	0.00	0.00	0.00	0.00
Total Noncurrent Assets	377	374	271	563	749	788	1,119	2,783	3,352	5,054	9,094
Long-Term Investments	188	154	35	276	264	166	89	322	162	1,203	1,764
Noncurrent Note & Lease Receivables	-	-	-	0.00	6.44	17	61	32	65	179	510
Goodwill	87	92	92	89	88	85	148	153	163	149	163
Intangible Assets	29	26	23	19	14	14	45	25	11	12	33
Noncurrent Deferred & Refundable Income Taxes	30	45	57	141	118	135	181	346	710	802	1,541
Other Noncurrent Operating Assets	44	57	64	38	259	371	595	1,905	2,241	2,709	5,083
Total Liabilities & Shareholders' Equity	1,004	1,367	1,673	2,240	4,782	6,526	10,101	13,736	17,612	25,196	42,667
Total Liabilities	664	939	1,347	1,903	2,700	4,875	8,570	11,909	14,541	20,845	35,919
Total Current Liabilities	322	577	968	1,166	1,752	3,636	5,837	8,562	11,263	16,603	28,633
Short-Term Debt	1.97	12	56	133	186	548	1,285	2,131	2,292	2,828	4,623
Accounts Payable	265	476	804	908	1,266	2,463	3,429	4,847	6,592	10,150	17,531
Current Deferred & Payable Income Tax Liabilities	10	27	32	31	60	216	291	414	477	525	1,140
Current Employee Benefit Liabilities	33	49	65	60	102	207	313	401	545	727	916
Other Current Liabilities	7.67	6.36	3.68	34	138	201	519	769	1,357	2,373	4,423
Total Noncurrent Liabilities	342	362	379	737	947	1,239	2,733	3,347	3,278	4,242	7,286
Long-Term Debt	294	302	312	602	631	861	2,233	2,627	2,203	2,887	4,570
Capital Lease Obligations	-	-	-	0.00	177	244	372	514	672	894	1,769
Noncurrent Deferred & Payable Income Tax Liabilities	27	34	24	92	100	64	62	106	183	204	372
Other Noncurrent Operating Liabilities	9.86	9.81	18	20	13	20	66	100	220	257	575
Commitments & Contingencies	-	-	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	339	429	326	337	1,983	1,652	1,531	1,827	3,071	4,351	6,748
Total Preferred & Common Equity	339	429	326	337	1,983	1,652	1,531	1,827	3,071	4,351	6,748
Total Common Equity	339	429	326	337	1,983	1,652	1,531	1,827	3,071	4,351	6,748
Common Stock	138	138	71	225	2,068	1,861	2,439	2,309	1,770	1,770	1,771
Retained Earnings	441	551	538	503	323	314	397	913	1,901	3,812	5,809
Accumulated Other Comprehensive Income / (Loss)	-239	-260	-283	-392	-407	-468	-515	-464	-290	-920	-520
Other Equity Adjustments	-	-	-	-	-	-	-	-931	-310	-311	-312

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	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025
Period end date	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	9/30/2025
Total Assets	14,201	15,243	16,124	17,612	19,062	20,030	22,623	25,196	27,682	32,948	36,691
Total Current Assets	11,336	12,290	13,050	14,260	15,505	16,479	17,824	20,142	21,740	26,062	28,795
Cash & Equivalents	2,143	1,860	2,171	2,556	2,579	2,818	2,162	2,635	2,977	3,008	2,582
Restricted Cash	1,381	1,964	1,085	1,292	1,239	1,005	1,316	2,064	1,521	3,880	6,617
Short-Term Investments	2,479	2,839	3,320	3,480	3,671	4,073	4,511	4,485	5,082	4,634	3,715
Note & Lease Receivable	1,877	2,051	2,336	2,629	3,119	3,440	4,248	4,716	5,501	6,607	7,810
Accounts Receivable	132	160	161	156	170	190	216	255	261	313	298
Inventories, net	199	236	246	238	223	257	322	296	358	434	532
Other Current Assets	3,080	3,125	3,688	3,909	4,504	4,696	5,049	5,691	6,040	7,186	7,241
Plant, Property, & Equipment, net	1,036	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Noncurrent Assets	1,829	2,953	3,074	3,352	3,557	3,551	4,799	5,054	5,942	6,886	7,896
Long-Term Investments	278	149	149	162	249	416	1,226	1,203	1,321	1,388	1,336
Noncurrent Note & Lease Receivables	31	76	42	65	86	111	156	179	225	277	382
Goodwill	160	166	159	163	158	149	149	149	155	160	161
Intangible Assets	24	22	21	11	12	13	12	12	39	39	38
Noncurrent Deferred & Refundable Income Taxes	357	348	489	710	810	767	780	802	968	1,139	1,376
Other Noncurrent Operating Assets	979	2,192	2,214	2,241	2,242	2,095	2,476	2,709	3,234	3,883	4,603
Total Liabilities & Shareholders' Equity	14,201	15,243	16,124	17,612	19,062	20,030	22,623	25,196	27,682	32,948	36,691
Total Liabilities	12,161	12,991	13,383	14,541	15,672	16,374	18,621	20,845	22,678	27,235	30,473
Total Current Liabilities	8,827	9,616	10,306	11,263	12,256	12,914	14,313	16,603	18,065	21,750	24,522
Short-Term Debt	2,332	2,286	2,272	2,292	2,246	2,203	2,250	2,828	3,569	3,818	4,431
Accounts Payable	4,850	5,565	5,926	6,592	7,262	7,958	8,794	10,150	10,721	13,254	14,620
Current Deferred & Payable Income Tax Liabilities	363	447	530	477	500	419	426	525	487	766	888
Current Employee Benefit Liabilities	425	394	519	545	531	482	665	727	647	670	840
Other Current Liabilities	838	903	1,038	1,357	1,717	1,852	2,178	2,373	2,641	3,242	3,743
Total Noncurrent Liabilities	3,334	3,375	3,077	3,278	3,416	3,460	4,308	4,242	4,613	5,485	5,951
Long-Term Debt	2,500	2,481	2,182	2,203	2,224	2,439	3,103	2,887	2,864	3,484	3,409
Capital Lease Obligations	529	595	615	672	653	623	770	894	1,009	1,333	1,636
Noncurrent Deferred & Payable Income Tax Liabilities	117	112	163	183	226	159	193	204	270	293	341
Other Noncurrent Operating Liabilities	188	187	117	220	313	239	242	257	470	375	565
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	2,040	2,252	2,741	3,071	3,390	3,656	4,002	4,351	5,004	5,713	6,218
Total Preferred & Common Equity	2,040	2,252	2,741	3,071	3,390	3,656	4,002	4,351	5,004	5,713	6,218
Total Common Equity	2,040	2,252	2,741	3,071	3,390	3,656	4,002	4,351	5,004	5,713	6,218
Common Stock	2,309	2,309	1,959	1,770	1,770	1,770	1,770	1,770	1,770	1,770	1,771
Retained Earnings	1,114	1,376	1,735	1,901	2,245	2,776	3,173	3,812	4,306	4,829	5,250
Accumulated Other Comprehensive Income / (Loss)	-391	-295	-366	-290	-315	-579	-630	-920	-761	-575	-491
Other Equity Adjustments	-	-	-	-310	-310	-	-311	-	-311	-	-312

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	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	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	17.12%	29.55%	44.07%	18.34%	59.50%	73.06%	77.88%	52.50%	40.14%	37.53%	39.06%
EBITDA Growth	33.48%	12.34%	-59.69%	-93.11%	-1,181.55%	418.13%	198.54%	128.10%	59.67%	42.66%	28.24%
EBIT Growth	27.26%	16.74%	-80.26%	-247.94%	-202.28%	154.88%	290.59%	162.35%	82.78%	53.83%	16.95%
NOPAT Growth	36.16%	36.15%	-89.24%	-439.14%	-120.43%	98.53%	10,753.31%	292.39%	111.69%	47.84%	8.80%
Net Income Growth	45.61%	28.90%	-89.89%	-365.49%	-370.14%	99.42%	8,400.00%	480.72%	104.77%	93.62%	4.50%
EPS Growth	47.24%	28.75%	-89.97%	-364.52%	-352.44%	97.84%	2,187.50%	470.66%	104.20%	93.68%	4.54%
Operating Cash Flow Growth	12.49%	-14.05%	41.39%	-14.16%	95.36%	162.03%	-18.36%	204.66%	74.83%	54.05%	53.02%
Free Cash Flow Firm Growth	-23.19%	30.18%	-50.84%	179.96%	-100.79%	31,539.43%	-452.95%	134.90%	275.42%	29.96%	35.67%
Invested Capital Growth	20.04%	28.72%	-36.51%	-290.77%	-81.25%	-158.41%	243.00%	23.00%	-30.42%	-23.40%	-138.39%
Revenue Q/Q Growth	3.06%	9.83%	9.13%	5.11%	12.01%	19.68%	12.80%	11.54%	10.27%	12.35%	10.31%
EBITDA Q/Q Growth	1.59%	5.48%	-59.58%	112.29%	-262.34%	97.36%	9.23%	37.81%	-0.71%	41.59%	3.03%
EBIT Q/Q Growth	0.62%	7.80%	-79.08%	54.79%	-70.49%	64.81%	0.70%	68.15%	-3.46%	60.80%	1.99%
NOPAT Q/Q Growth	-5.24%	22.24%	-89.16%	47.86%	-79.99%	71.54%	26.19%	45.56%	4.47%	55.05%	-2.46%
Net Income Q/Q Growth	4.76%	9.99%	-89.63%	64.12%	-42.93%	75.76%	6.24%	77.86%	0.00%	32.99%	-3.85%
EPS Q/Q Growth	5.73%	9.96%	-89.74%	64.50%	-44.36%	66.67%	5.70%	78.13%	-0.36%	33.37%	-3.83%
Operating Cash Flow Q/Q Growth	30.50%	-26.19%	-5.60%	3.68%	10.66%	17.70%	85.58%	40.07%	8.12%	14.39%	23.24%
Free Cash Flow Firm Q/Q Growth	136.30%	-34.58%	-63.64%	84.98%	88.55%	-40.04%	-30.50%	140.52%	-21.49%	48.67%	71.69%
Invested Capital Q/Q Growth	-39.46%	34.11%	5.22%	-19.16%	-49.03%	22.29%	145.47%	-44.70%	-31.06%	-37.03%	-115.24%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	55.29%	63.58%	59.15%	48.42%	48.00%	39.66%	36.36%	38.27%	43.29%	37.15%	33.80%
EBITDA Margin	29.27%	25.39%	7.10%	0.41%	-2.81%	5.16%	8.66%	12.95%	14.75%	15.31%	14.11%
Operating Margin	21.36%	21.44%	4.63%	-4.83%	-6.67%	3.22%	6.24%	9.92%	14.61%	12.66%	11.08%
EBIT Margin	23.06%	20.78%	2.85%	-3.56%	-6.75%	2.14%	4.70%	8.08%	10.54%	11.79%	9.91%
Profit (Net Income) Margin	16.23%	16.15%	1.13%	-2.54%	-7.49%	-0.03%	1.17%	4.47%	6.53%	9.20%	6.91%
Tax Burden Percent	70.30%	73.58%	25.49%	55.90%	160.38%	-1.23%	34.44%	61.79%	63.55%	78.58%	70.27%
Interest Burden Percent	100.11%	105.61%	156.10%	127.73%	69.24%	95.29%	72.59%	89.55%	97.55%	99.31%	99.23%
Effective Tax Rate	29.70%	26.42%	74.51%	0.00%	0.00%	101.23%	61.83%	38.21%	36.64%	21.42%	29.73%
Return on Invested Capital (ROIC)	127.55%	139.18%	16.28%	0.00%	0.00%	0.00%	128.12%	67.79%	153.42%	313.00%	1,274.37%
ROIC Less NNEP Spread (ROIC-NNEP)	124.62%	138.09%	16.48%	0.00%	0.00%	0.00%	133.96%	93.14%	180.17%	318.13%	1,279.06%
Return on Net Nonoperating Assets (RNNOA)	-97.12%	-103.68%	-12.63%	0.00%	0.00%	0.00%	-122.90%	-39.08%	-113.11%	-261.51%	-1,238.38%
Return on Equity (ROE)	30.43%	35.50%	3.65%	-11.04%	-14.22%	-0.05%	5.22%	28.71%	40.30%	51.50%	35.99%
Cash Return on Invested Capital (CROIC)	109.34%	114.07%	60.94%	0.00%	0.00%	0.00%	-150.67%	47.16%	189.29%	339.50%	0.00%
Operating Return on Assets (OROA)	15.26%	14.80%	2.28%	-2.62%	-4.41%	1.50%	3.99%	7.31%	10.16%	11.44%	8.44%
Return on Assets (ROA)	10.74%	11.50%	0.91%	-1.87%	-4.90%	-0.02%	1.00%	4.04%	6.30%	8.93%	5.89%
Return on Common Equity (ROCE)	30.43%	35.50%	3.65%	-11.04%	-13.64%	-0.05%	5.22%	28.71%	40.30%	51.50%	35.99%
Return on Equity Simple (ROE_SIMPLE)	31.16%	31.80%	4.23%	-10.87%	-8.67%	-0.06%	5.42%	26.38%	32.14%	43.92%	0.00%
Net Operating Profit after Tax (NOPAT)	98	133	14	-49	-107	-1.58	168	661	1,398	2,067	2,249
NOPAT Margin	15.01%	15.78%	1.18%	-3.38%	-4.67%	-0.04%	2.38%	6.13%	9.26%	9.95%	7.78%
Net Nonoperating Expense Percent (NNEP)	2.93%	1.09%	-0.19%	3.33%	-4.65%	0.03%	-5.85%	-25.35%	-26.76%	-5.13%	-4.70%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	9.31%	16.97%	18.86%	12.70%
Cost of Revenue to Revenue	44.71%	36.42%	40.85%	51.59%	52.00%	60.34%	63.64%	61.73%	56.71%	62.85%	66.20%
SG&A Expenses to Revenue	11.71%	10.34%	10.04%	9.57%	8.60%	8.23%	6.58%	6.13%	5.07%	4.63%	3.73%
R&D to Revenue	0.00%	11.66%	10.45%	10.16%	9.75%	8.88%	8.35%	10.19%	12.12%	9.31%	7.85%
Operating Expenses to Revenue	33.93%	42.14%	54.53%	53.24%	54.67%	36.44%	30.12%	28.35%	28.68%	24.49%	22.73%
Earnings before Interest and Taxes (EBIT)	150	175	35	-51	-155	85	332	871	1,592	2,449	2,864
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	191	214	86	5.96	-64	205	612	1,396	2,229	3,180	4,078
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	14.78	16.04	42.65	39.32	14.34	50.58	43.56	23.30	25.87	19.81	15.13
Price to Tangible Book Value (P/TBV)	22.40	22.13	66.06	57.75	15.11	53.82	49.84	25.81	27.43	20.57	15.59
Price to Revenue (P/Rev)	7.70	8.15	11.42	9.20	12.38	21.02	9.43	3.95	5.26	4.15	3.53
Price to Earnings (P/E)	47.41	50.44	1,008.31	0.00	0.00	0.00	803.50	88.30	80.50	45.11	51.14
Dividend Yield	0.36%	0.39%	0.19%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	2.11%	1.98%	0.10%	0.00%	0.00%	0.00%	0.12%	1.13%	1.24%	2.22%	1.96%
Enterprise Value to Invested Capital (EV/IC)	56.82	60.81	199.26	0.00	0.00	0.00	75.55	38.89	103.12	143.86	0.00
Enterprise Value to Revenue (EV/Rev)	7.30	7.76	11.20	8.87	11.41	20.45	9.34	3.88	5.11	3.97	3.29
Enterprise Value to EBITDA (EV/EBITDA)	24.92	30.56	157.74	2,143.41	0.00	396.49	107.90	29.95	34.60	25.92	23.33
Enterprise Value to EBIT (EV/EBIT)	31.64	37.33	393.51	0.00	0.00	956.24	198.90	48.00	48.45	33.66	33.22
Enterprise Value to NOPAT (EV/NOPAT)	48.60	49.17	950.43	0.00	0.00	0.00	392.24	63.29	55.16	39.87	42.30
Enterprise Value to Operating Cash Flow (EV/OCF)	21.48	34.43	50.67	55.31	58.11	68.76	68.43	14.22	15.01	10.41	7.85
Enterprise Value to Free Cash Flow (EV/FCFF)	56.70	60.00	253.95	84.99	0.00	217.86	0.00	90.97	44.71	36.76	31.28
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.87	0.73	1.13	2.18	0.48	1.00	2.54	2.89	1.68	1.52	1.62
Long-Term Debt to Equity	0.87	0.70	0.96	1.79	0.39	0.67	1.70	1.72	0.94	0.87	0.94
Financial Leverage	-0.78	-0.75	-0.77	-1.09	-1.15	-1.23	-0.92	-0.42	-0.63	-0.82	-0.97
Leverage Ratio	2.83	3.09	4.03	5.91	2.90	3.03	5.22	7.10	6.40	5.77	6.11
Compound Leverage Factor	2.84	3.26	6.29	7.54	2.01	2.89	3.79	6.36	6.24	5.73	6.07
Debt to Total Capital	46.61%	42.23%	53.07%	68.59%	32.32%	50.02%	71.76%	74.26%	62.72%	60.30%	61.90%
Short-Term Debt to Total Capital	0.31%	1.56%	8.11%	12.40%	6.05%	16.60%	23.70%	30.02%	27.82%	25.80%	26.10%
Long-Term Debt to Total Capital	46.30%	40.67%	44.96%	56.18%	26.27%	33.42%	48.05%	44.25%	34.90%	34.50%	35.79%
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%	3.21%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	53.39%	57.77%	46.93%	31.41%	64.47%	49.98%	28.24%	25.74%	37.28%	39.70%	38.10%
Debt to EBITDA	1.55	1.46	4.26	123.39	-15.43	8.06	6.36	3.78	2.32	2.08	2.69
Net Debt to EBITDA	-1.36	-1.53	-3.06	-78.41	35.98	-11.04	-1.07	-0.54	-1.04	-1.19	-1.71
Long-Term Debt to EBITDA	1.54	1.41	3.61	101.08	-12.54	5.39	4.26	2.25	1.29	1.19	1.55
Debt to NOPAT	3.03	2.35	25.69	-15.12	-9.27	-1,045.96	23.11	7.98	3.70	3.20	4.87
Net Debt to NOPAT	-2.66	-2.46	-18.41	9.61	21.63	1,431.91	-3.90	-1.14	-1.66	-1.83	-3.10
Long-Term Debt to NOPAT	3.01	2.27	21.76	-12.38	-7.54	-698.93	15.47	4.75	2.06	1.83	2.82
Altman Z-Score	6.56	6.26	7.66	5.24	7.30	11.32	5.81	3.44	4.79	4.01	2.93
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	4.09%	2.65%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.69	1.51	1.33	1.30	2.16	1.47	1.40	1.28	1.27	1.21	1.17
Quick Ratio	1.23	0.90	0.72	0.89	1.83	0.97	0.80	0.71	0.78	0.73	0.54
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	84	109	54	150	-1.19	373	-1,317	460	1,725	2,242	3,042
Operating Cash Flow to CapEx	565.44%	277.64%	487.73%	247.92%	329.75%	478.54%	168.41%	646.15%	1,009.82%	920.70%	902.16%
Free Cash Flow to Firm to Interest Expense	4.11	4.26	2.03	2.67	-0.02	3.49	-5.75	3.40	9.92	13.59	19.01
Operating Cash Flow to Interest Expense	10.86	7.43	10.16	4.11	6.85	11.05	4.21	21.78	29.54	47.99	75.73
Operating Cash Flow Less CapEx to Interest Expense	8.94	4.75	8.08	2.45	4.77	8.74	1.71	18.41	26.61	42.78	67.33
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.66	0.71	0.80	0.74	0.65	0.70	0.85	0.90	0.96	0.97	0.85
Accounts Receivable Turnover	17.36	31.35	45.39	45.47	65.05	93.36	95.73	94.56	105.64	101.10	92.61
Inventory Turnover	0.00	464.21	272.15	207.41	180.42	37.83	24.24	32.86	43.93	48.91	44.17
Fixed Asset Turnover	7.53	8.20	10.18	10.27	11.21	12.50	11.79	0.00	0.00	0.00	0.00
Accounts Payable Turnover	1.19	0.83	0.78	0.87	1.10	1.29	1.53	1.61	1.50	1.56	1.38
Days Sales Outstanding (DSO)	21.03	11.64	8.04	8.03	5.61	3.91	3.81	3.86	3.46	3.61	3.94
Days Inventory Outstanding (DIO)	0.00	0.79	1.34	1.76	2.02	9.65	15.06	11.11	8.31	7.46	8.26
Days Payable Outstanding (DPO)	305.81	439.78	470.08	420.69	332.25	283.81	239.00	226.95	243.68	233.99	264.13
Cash Conversion Cycle (CCC)	-284.79	-427.35	-460.69	-410.90	-324.62	-270.25	-220.13	-211.99	-231.92	-222.91	-251.93
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	84	108	68	-130	-237	-611	874	1,075	748	573	-220
Invested Capital Turnover	8.50	8.82	13.81	-46.37	-12.51	-9.38	53.80	11.06	16.57	31.46	163.70
Increase / (Decrease) in Invested Capital	14	24	-39	-199	-106	-375	1,485	201	-327	-175	-793
Enterprise Value (EV)	4,756	6,551	13,631	12,770	26,211	81,280	66,033	41,810	77,133	82,430	95,149
Market Capitalization	5,016	6,879	13,895	13,238	28,431	83,543	66,690	42,562	79,456	86,208	102,117
Book Value per Share	$7.69	$9.71	$7.38	$7.45	$39.89	$33.12	$30.96	$36.33	$60.74	$85.82	$133.10
Tangible Book Value per Share	$5.07	$7.04	$4.76	$5.07	$37.84	$31.13	$27.05	$32.79	$57.30	$82.65	$129.24
Total Capital	636	742	694	1,072	3,076	3,304	5,421	7,099	8,238	10,960	17,710
Total Debt	296	314	368	735	994	1,653	3,890	5,272	5,167	6,609	10,962
Total Long-Term Debt	294	302	312	602	808	1,104	2,605	3,141	2,875	3,781	6,339
Net Debt	-260	-328	-264	-467	-2,318	-2,263	-657	-752	-2,323	-3,778	-6,968
Capital Expenditures (CapEx)	39	69	55	93	137	247	573	455	509	860	1,343
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-144	-183	-222	-448	-826	-1,490	-835	-1,180	-2,039	-2,817	-6,603
Debt-free Net Working Capital (DFNWC)	225	304	375	478	2,223	2,259	3,623	4,522	5,289	6,367	9,563
Net Working Capital (NWC)	223	293	319	345	2,037	1,711	2,338	2,391	2,997	3,539	4,940
Net Nonoperating Expense (NNE)	-7.94	-3.14	0.56	-12	65	-0.58	85	179	411	156	252
Net Nonoperating Obligations (NNO)	-256	-321	-257	-467	-2,318	-2,263	-657	-752	-2,323	-3,778	-6,968
Total Depreciation and Amortization (D&A)	40	39	52	57	90	120	280	525	637	731	1,214
Debt-free, Cash-free Net Working Capital to Revenue	-22.14%	-21.67%	-18.29%	-31.15%	-35.97%	-37.50%	-11.81%	-10.95%	-13.50%	-13.56%	-22.85%
Debt-free Net Working Capital to Revenue	34.47%	36.05%	30.84%	33.19%	96.79%	56.85%	51.25%	41.95%	35.01%	30.64%	33.10%
Net Working Capital to Revenue	34.17%	34.68%	26.21%	23.96%	88.69%	43.05%	33.07%	22.18%	19.84%	17.03%	17.10%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.40	$3.09	$0.31	($0.82)	$0.00	($0.08)	$1.67	$9.57	$19.64	$37.69	$39.40
Adjusted Weighted Average Basic Shares Outstanding	44.16M	44.16M	44.16M	44.53M	0.00	49.74M	49.80M	50.35M	50.26M	50.70M	50.70M
Adjusted Diluted Earnings per Share	$2.40	$3.09	$0.31	($0.82)	$0.00	($0.08)	$1.67	$9.53	$19.46	$37.69	$39.40
Adjusted Weighted Average Diluted Shares Outstanding	44.16M	44.16M	44.16M	44.53M	0.00	49.74M	49.80M	51.34M	51.01M	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	44.16M	44.16M	44.16M	45.20M	0.00	49.87M	50.42M	50.26M	50.70M	50.70M	50.70M
Normalized Net Operating Profit after Tax (NOPAT)	109	143	41	-49	-107	90	309	661	1,398	2,067	2,249
Normalized NOPAT Margin	16.76%	16.97%	3.40%	-3.38%	-4.67%	2.25%	4.37%	6.13%	9.26%	9.95%	7.78%
Pre Tax Income Margin	23.09%	21.95%	4.44%	-4.55%	-4.67%	2.04%	3.41%	7.24%	10.28%	11.71%	9.84%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	7.37	6.85	1.31	-0.91	-2.35	0.79	1.45	6.45	9.15	14.84	17.90
NOPAT to Interest Expense	4.80	5.20	0.54	-0.86	-1.63	-0.01	0.74	4.89	8.04	12.53	14.06
EBIT Less CapEx to Interest Expense	5.45	4.18	-0.78	-2.57	-4.43	-1.51	-1.05	3.08	6.22	9.63	9.51
NOPAT Less CapEx to Interest Expense	2.88	2.53	-1.54	-2.52	-3.70	-2.32	-1.77	1.52	5.11	7.32	5.66
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	19.83%	17.91%	192.28%	-18.11%	-1.65%	-300.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	22.39%	17.91%	192.28%	-18.11%	-2.07%	-5,700.00%	585.54%	30.71%	36.07%	0.05%	0.05%

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

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	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	9/30/2025	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	38.04%	45.99%	35.87%	36.00%	41.51%	35.27%	37.42%	36.97%	33.85%	39.48%	44.56%
EBITDA Growth	68.32%	114.33%	-8.10%	36.74%	25.88%	4.20%	141.31%	39.41%	21.20%	55.87%	11.23%
EBIT Growth	156.32%	142.67%	-28.75%	49.24%	37.17%	-5.31%	237.72%	43.32%	5.99%	20.31%	7.27%
NOPAT Growth	95.26%	175.20%	17.54%	46.00%	55.41%	-19.87%	185.75%	41.38%	4.42%	12.70%	-7.70%
Net Income Growth	113.01%	178.29%	0.00%	71.14%	102.67%	10.59%	287.27%	43.60%	-1.51%	6.05%	-12.52%
EPS Growth	112.35%	179.69%	-2.16%	70.78%	103.10%	9.36%	297.48%	43.66%	-1.62%	6.26%	-12.46%
Operating Cash Flow Growth	55.68%	29.97%	25.03%	76.02%	33.29%	70.03%	51.66%	-31.81%	54.99%	84.94%	78.15%
Free Cash Flow Firm Growth	184.57%	199.61%	16,261.09%	-44.91%	-53.48%	-56.81%	51.89%	-132.68%	-129.40%	-109.12%	65.58%
Invested Capital Growth	-61.55%	-44.19%	-30.42%	-30.80%	-24.06%	-16.13%	-23.40%	99.35%	136.12%	58.68%	-138.39%
Revenue Q/Q Growth	12.52%	9.54%	12.27%	9.92%	17.08%	4.71%	14.06%	-2.05%	14.41%	9.12%	18.22%
EBITDA Q/Q Growth	33.60%	-5.44%	-38.26%	461.29%	22.99%	-21.73%	42.99%	-1.04%	6.75%	-8.20%	27.99%
EBIT Q/Q Growth	47.13%	12.12%	-58.24%	982.14%	35.22%	-22.60%	48.94%	-8.05%	0.00%	-12.15%	32.80%
NOPAT Q/Q Growth	43.58%	42.92%	-54.72%	932.10%	52.83%	-26.31%	61.49%	-22.26%	12.87%	-20.47%	32.26%
Net Income Q/Q Growth	30.35%	37.02%	-54.04%	108.48%	54.36%	-25.24%	60.96%	-22.69%	5.87%	-19.50%	32.78%
EPS Q/Q Growth	29.97%	38.76%	-55.73%	113.88%	54.57%	-25.29%	60.92%	-22.70%	5.85%	-19.30%	32.57%
Operating Cash Flow Q/Q Growth	64.38%	-33.36%	104.89%	-21.58%	24.47%	-14.98%	82.75%	-64.74%	182.93%	1.44%	76.04%
Free Cash Flow Firm Q/Q Growth	26.21%	-16.05%	-59.18%	98.75%	6.57%	-22.06%	43.56%	-127.40%	4.12%	75.82%	2,706.22%
Invested Capital Q/Q Growth	-28.39%	35.29%	-31.06%	3.61%	-21.42%	49.43%	-37.03%	169.63%	-6.93%	0.42%	-115.24%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	51.07%	46.29%	34.68%	38.08%	37.75%	36.37%	36.67%	36.53%	35.41%	32.31%	31.98%
EBITDA Margin	18.97%	16.37%	9.00%	16.06%	16.87%	12.61%	15.81%	15.97%	14.90%	12.54%	13.57%
Operating Margin	18.66%	19.99%	7.60%	12.19%	14.31%	10.49%	13.53%	12.86%	12.15%	9.77%	10.15%
EBIT Margin	13.58%	13.90%	5.17%	11.40%	13.17%	9.73%	12.71%	11.93%	10.43%	8.40%	9.43%
Profit (Net Income) Margin	7.31%	9.14%	3.74%	7.94%	10.47%	7.47%	10.55%	8.32%	7.70%	5.68%	6.38%
Tax Burden Percent	55.51%	67.61%	71.74%	71.52%	79.49%	76.35%	83.75%	69.97%	73.04%	66.20%	71.30%
Interest Burden Percent	96.92%	97.25%	100.88%	97.37%	100.00%	100.58%	99.09%	99.72%	101.13%	102.25%	94.92%
Effective Tax Rate	44.49%	32.39%	28.26%	28.48%	20.51%	23.65%	16.25%	30.03%	26.96%	33.81%	28.70%
Return on Invested Capital (ROIC)	89.40%	122.25%	90.34%	143.67%	275.86%	148.42%	356.53%	173.54%	208.94%	143.95%	1,184.65%
ROIC Less NNEP Spread (ROIC-NNEP)	112.57%	147.83%	95.24%	145.57%	277.91%	149.61%	358.10%	174.86%	211.12%	145.43%	1,186.05%
Return on Net Nonoperating Assets (RNNOA)	-27.73%	-45.41%	-59.79%	-94.77%	-211.54%	-105.34%	-294.36%	-126.53%	-164.99%	-111.93%	-1,148.32%
Return on Equity (ROE)	61.67%	76.84%	30.55%	48.90%	64.32%	43.07%	62.17%	47.02%	43.95%	32.02%	36.33%
Cash Return on Invested Capital (CROIC)	158.50%	145.10%	189.29%	170.91%	233.96%	151.21%	339.50%	125.27%	138.87%	150.55%	0.00%
Operating Return on Assets (OROA)	12.69%	13.56%	4.98%	10.71%	12.77%	9.29%	12.34%	11.42%	9.49%	7.41%	8.03%
Return on Assets (ROA)	6.83%	8.92%	3.61%	7.46%	10.15%	7.13%	10.24%	7.97%	7.01%	5.02%	5.43%
Return on Common Equity (ROCE)	61.67%	76.84%	30.55%	48.90%	64.32%	43.07%	62.17%	47.02%	43.95%	32.02%	36.33%
Return on Equity Simple (ROE_SIMPLE)	33.61%	36.01%	0.00%	33.33%	38.27%	35.91%	0.00%	41.19%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	371	531	240	378	577	425	687	534	603	479	634
NOPAT Margin	10.36%	13.51%	5.45%	8.71%	11.38%	8.01%	11.33%	9.00%	8.88%	6.47%	7.24%
Net Nonoperating Expense Percent (NNEP)	-23.17%	-25.57%	-4.90%	-1.90%	-2.05%	-1.19%	-1.56%	-1.31%	-2.17%	-1.48%	-1.39%
Return On Investment Capital (ROIC_SIMPLE)	-	-	2.92%	-	-	-	6.27%	4.29%	4.20%	3.05%	3.58%
Cost of Revenue to Revenue	55.12%	53.71%	60.29%	61.92%	62.25%	63.63%	63.33%	63.47%	64.60%	67.69%	68.02%
SG&A Expenses to Revenue	5.27%	4.99%	4.56%	4.29%	4.30%	5.74%	4.19%	4.30%	3.84%	3.64%	3.33%
R&D to Revenue	10.27%	10.08%	15.56%	10.57%	9.07%	9.49%	8.45%	9.28%	8.35%	7.65%	6.67%
Operating Expenses to Revenue	26.22%	26.31%	32.12%	25.89%	23.44%	25.88%	23.14%	23.67%	23.25%	22.54%	21.83%
Earnings before Interest and Taxes (EBIT)	487	546	228	494	668	517	770	708	708	622	826
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	680	643	397	696	856	670	958	948	1,012	929	1,189
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	26.41	23.17	25.87	22.55	22.79	25.99	19.81	19.77	23.19	19.05	15.13
Price to Tangible Book Value (P/TBV)	28.82	24.80	27.43	23.74	23.85	27.08	20.57	20.56	24.03	19.68	15.59
Price to Revenue (P/Rev)	4.77	4.64	5.26	4.89	4.87	5.63	4.15	4.42	5.50	4.52	3.53
Price to Earnings (P/E)	78.57	64.35	80.50	67.65	59.55	72.39	45.11	47.99	64.54	57.04	51.14
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	1.27%	1.55%	1.24%	1.48%	1.68%	1.38%	2.22%	2.08%	1.55%	1.75%	1.96%
Enterprise Value to Invested Capital (EV/IC)	72.35	57.01	103.12	95.26	131.80	110.92	143.86	61.78	89.17	78.74	0.00
Enterprise Value to Revenue (EV/Rev)	4.66	4.52	5.11	4.73	4.69	5.46	3.97	4.26	5.32	4.34	3.29
Enterprise Value to EBITDA (EV/EBITDA)	30.51	27.55	34.60	36.14	36.17	44.94	25.92	27.68	35.37	28.73	23.33
Enterprise Value to EBIT (EV/EBIT)	43.69	37.51	48.45	53.85	51.72	66.28	33.66	35.84	47.44	40.49	33.22
Enterprise Value to NOPAT (EV/NOPAT)	57.75	46.21	55.16	57.93	55.07	75.70	39.87	42.93	56.98	49.31	42.30
Enterprise Value to Operating Cash Flow (EV/OCF)	12.79	13.01	15.01	12.74	12.82	14.58	10.41	12.83	15.14	11.57	7.85
Enterprise Value to Free Cash Flow (EV/FCFF)	25.35	28.15	44.71	45.59	48.63	66.92	36.76	65.68	90.22	64.17	31.28
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	2.38	1.85	1.68	1.51	1.44	1.53	1.52	1.49	1.51	1.52	1.62
Long-Term Debt to Equity	1.37	1.02	0.94	0.85	0.84	0.97	0.87	0.77	0.84	0.81	0.94
Financial Leverage	-0.25	-0.31	-0.63	-0.65	-0.76	-0.70	-0.82	-0.72	-0.78	-0.77	-0.97
Leverage Ratio	6.97	6.42	6.40	6.13	5.97	5.75	5.77	5.57	5.65	5.80	6.11
Compound Leverage Factor	6.75	6.25	6.46	5.96	5.97	5.78	5.72	5.55	5.72	5.93	5.80
Debt to Total Capital	70.42%	64.90%	62.72%	60.18%	59.02%	60.47%	60.30%	59.79%	60.18%	60.38%	61.90%
Short-Term Debt to Total Capital	30.02%	29.09%	27.82%	26.38%	24.69%	22.22%	25.80%	28.68%	26.61%	28.23%	26.10%
Long-Term Debt to Total Capital	40.40%	35.81%	34.90%	33.80%	34.32%	38.25%	34.50%	31.12%	33.57%	32.15%	35.79%
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	29.58%	35.10%	37.28%	39.82%	40.98%	39.53%	39.70%	40.21%	39.82%	39.62%	38.10%
Debt to EBITDA	2.82	2.26	2.32	2.51	2.37	2.73	2.08	2.16	2.38	2.39	2.69
Net Debt to EBITDA	-0.76	-0.74	-1.04	-1.28	-1.37	-1.38	-1.19	-1.00	-1.18	-1.21	-1.71
Long-Term Debt to EBITDA	1.62	1.25	1.29	1.41	1.38	1.72	1.19	1.12	1.33	1.27	1.55
Debt to NOPAT	5.34	3.79	3.70	4.02	3.61	4.59	3.20	3.35	3.84	4.11	4.87
Net Debt to NOPAT	-1.44	-1.24	-1.66	-2.05	-2.09	-2.32	-1.83	-1.56	-1.90	-2.07	-3.10
Long-Term Debt to NOPAT	3.06	2.09	2.06	2.26	2.10	2.90	1.83	1.74	2.14	2.19	2.82
Altman Z-Score	4.01	4.16	4.53	4.20	4.42	4.63	3.79	3.89	4.08	3.44	2.78
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	1.27	1.27	1.27	1.28	1.25	1.21	1.20	1.20	1.17	1.17
Quick Ratio	0.72	0.78	0.78	0.78	0.81	0.78	0.73	0.77	0.67	0.59	0.54
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	1,655	1,390	567	723	770	600	862	-236	-226	-55	1,427
Operating Cash Flow to CapEx	1,238.60%	746.83%	1,071.11%	1,035.62%	1,028.42%	720.72%	946.28%	379.04%	1,016.38%	828.85%	1,219.91%
Free Cash Flow to Firm to Interest Expense	33.78	26.22	14.93	19.02	19.75	15.01	17.95	-6.05	-6.29	-1.56	28.54
Operating Cash Flow to Interest Expense	28.82	17.75	50.74	39.79	48.26	40.00	60.92	26.44	81.03	84.54	104.18
Operating Cash Flow Less CapEx to Interest Expense	26.49	15.38	46.00	35.95	43.56	34.45	54.48	19.46	73.06	74.34	95.64
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.93	0.98	0.96	0.94	0.97	0.95	0.97	0.96	0.91	0.88	0.85
Accounts Receivable Turnover	95.14	101.86	105.64	103.44	97.76	98.11	101.10	103.85	95.81	101.92	92.61
Inventory Turnover	35.59	39.09	43.93	43.49	42.02	40.95	48.91	48.68	44.49	39.82	44.17
Fixed Asset Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Accounts Payable Turnover	1.62	1.65	1.50	1.52	1.53	1.58	1.56	1.57	1.45	1.45	1.38
Days Sales Outstanding (DSO)	3.84	3.58	3.46	3.53	3.73	3.72	3.61	3.51	3.81	3.58	3.94
Days Inventory Outstanding (DIO)	10.26	9.34	8.31	8.39	8.69	8.91	7.46	7.50	8.20	9.17	8.26
Days Payable Outstanding (DPO)	225.78	221.69	243.68	240.89	238.26	231.01	233.99	232.07	251.87	251.28	264.13
Cash Conversion Cycle (CCC)	-211.68	-208.77	-231.92	-228.97	-225.85	-218.37	-222.91	-221.05	-239.85	-238.54	-251.93
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	802	1,085	748	775	609	910	573	1,545	1,438	1,444	-220
Invested Capital Turnover	8.63	9.05	16.57	16.49	24.25	18.54	31.46	19.29	23.54	22.25	163.70
Increase / (Decrease) in Invested Capital	-1,284	-859	-327	-345	-193	-175	-175	770	829	534	-793
Enterprise Value (EV)	58,026	61,855	77,133	73,829	80,269	100,937	82,430	95,445	128,229	113,703	95,149
Market Capitalization	59,476	63,511	79,456	76,444	83,316	104,029	86,208	98,904	132,504	118,477	102,117
Book Value per Share	$44.85	$54.72	$60.74	$66.87	$72.11	$78.94	$85.82	$98.70	$112.69	$122.65	$133.10
Tangible Book Value per Share	$41.11	$51.13	$57.30	$63.51	$68.92	$75.76	$82.65	$94.88	$108.76	$118.72	$129.24
Total Capital	7,614	7,810	8,238	8,513	8,921	10,125	10,960	12,446	14,348	15,694	17,710
Total Debt	5,362	5,069	5,167	5,123	5,265	6,123	6,609	7,442	8,635	9,476	10,962
Total Long-Term Debt	3,076	2,797	2,875	2,877	3,062	3,873	3,781	3,873	4,817	5,045	6,339
Net Debt	-1,450	-1,656	-2,323	-2,615	-3,047	-3,092	-3,778	-3,459	-4,275	-4,774	-6,968
Capital Expenditures (CapEx)	114	126	180	146	183	222	309	272	287	357	427
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-1,703	-1,560	-2,039	-1,994	-2,128	-2,228	-2,817	-2,336	-3,392	-4,210	-6,603
Debt-free Net Working Capital (DFNWC)	4,960	5,016	5,289	5,495	5,768	5,761	6,367	7,244	8,130	8,704	9,563
Net Working Capital (NWC)	2,674	2,744	2,997	3,249	3,565	3,511	3,539	3,675	4,312	4,273	4,940
Net Nonoperating Expense (NNE)	109	172	75	34	46	28	48	40	80	58	75
Net Nonoperating Obligations (NNO)	-1,450	-1,656	-2,323	-2,615	-3,047	-3,092	-3,778	-3,459	-4,275	-4,774	-6,968
Total Depreciation and Amortization (D&A)	193	97	169	202	188	153	188	240	304	307	363
Debt-free, Cash-free Net Working Capital to Revenue	-13.66%	-11.39%	-13.50%	-12.77%	-12.44%	-12.05%	-13.56%	-10.44%	-14.08%	-16.07%	-22.85%
Debt-free Net Working Capital to Revenue	39.80%	36.61%	35.01%	35.18%	33.72%	31.15%	30.64%	32.37%	33.74%	33.23%	33.10%
Net Working Capital to Revenue	21.46%	20.03%	19.84%	20.80%	20.84%	18.99%	17.03%	16.42%	17.90%	16.31%	17.10%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$5.22	$7.18	$3.23	$6.78	$10.48	$7.83	$12.60	$9.74	$10.31	$8.32	$11.03
Adjusted Weighted Average Basic Shares Outstanding	50.16M	50.01M	50.26M	50.70M	50.70M	50.70M	50.70M	50.70M	50.70M	50.70M	50.70M
Adjusted Diluted Earnings per Share	$5.16	$7.16	$3.17	$6.78	$10.48	$7.83	$12.60	$9.74	$10.31	$8.32	$11.03
Adjusted Weighted Average Diluted Shares Outstanding	51.15M	50.21M	51.01M	50.70M	50.70M	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	50.09M	50.56M	50.70M	50.70M	50.70M	50.70M	50.70M	50.70M	50.70M	50.70M	50.70M
Normalized Net Operating Profit after Tax (NOPAT)	371	531	240	378	577	425	687	534	603	479	634
Normalized NOPAT Margin	10.36%	13.51%	5.45%	8.71%	11.38%	8.01%	11.33%	9.00%	8.88%	6.47%	7.24%
Pre Tax Income Margin	13.17%	13.52%	5.22%	11.10%	13.17%	9.79%	12.59%	11.90%	10.54%	8.58%	8.95%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	9.94	10.30	6.00	13.00	17.13	12.93	16.04	18.15	19.67	17.77	16.52
NOPAT to Interest Expense	7.58	10.01	6.32	9.94	14.80	10.63	14.31	13.69	16.74	13.69	12.68
EBIT Less CapEx to Interest Expense	7.61	7.92	1.26	9.16	12.44	7.38	9.60	11.18	11.69	7.57	7.98
NOPAT Less CapEx to Interest Expense	5.25	7.64	1.59	6.10	10.11	5.08	7.87	6.72	8.77	3.49	4.14
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	37.12%	39.41%	36.07%	26.11%	10.72%	0.07%	0.05%	0.00%	0.00%	0.05%	0.05%

Financials Breakdown Chart

Key Financial Trends

MercadoLibre (MELI) reported strong revenue growth and robust cash generation in Q4 2025, supported by continued financing activity. Here are the key trends from the latest four years of quarterly statements (income, cash flow, and balance sheet) geared for retail investors.

Revenue growth: Q4 2025 revenue of $8.76B, up about 44% year over year from Q4 2024.
Strong operating cash flow: Q4 2025 net cash from continuing operating activities of $5.21B, indicating solid cash generation from core operations.
Financing flexibility: Q4 2025 net cash from continuing financing activities of $1.38B, reflecting access to capital for growth initiatives.
Earnings per share: Q4 2025 earnings per share of $11.03 (diluted) with net income of $559M, signaling profitability in the quarter.
Gross margin evolution: Gross margin declined to about 32% in Q4 2025 from roughly 37% in Q4 2024, indicating margin compression as operating costs rise.
Investing pace: Q4 2025 investing cash flows show notable outlays (net cash from investing activities around −$2.00B), driven by securities investments and other investing activities.
Debt issuance: Issuance of debt in Q4 2025 totaled about $13.347B, expanding liquidity but increasing leverage risk over time.
Seasonality: Q4 results reflect a seasonal revenue spike observed in several years, consistent with holiday-related consumer activity.
Net income trend: Q4 2025 net income of $559M declined versus Q4 2024 when net income was higher, despite stronger revenue.
Leverage concerns: On the balance sheet, total liabilities around $30.5B vs equity near $6.2B in the latest period imply a high leverage position (roughly 5x liability-to-equity).

05/11/26 12:51 PM ETAI Generated. May Contain Errors.

MercadoLibre Financials - Frequently Asked Questions

According to the most recent income statement we have on file, MercadoLibre's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

MercadoLibre's net income appears to be on an upward trend, with a most recent value of $2.00 billion in 2025, rising from $105.79 million in 2015. The previous period was $1.91 billion in 2024. Find out what analysts predict for MercadoLibre in the coming months.

MercadoLibre's total operating income in 2025 was $3.20 billion, based on the following breakdown:

Total Gross Profit: $9.77 billion
Total Operating Expenses: $6.57 billion

Over the last 10 years, MercadoLibre's total revenue changed from $651.79 million in 2015 to $28.89 billion in 2025, a change of 4,332.9%.

MercadoLibre's total liabilities were at $35.92 billion at the end of 2025, a 72.3% increase from 2024, and a 5,308.3% increase since 2015.

In the past 10 years, MercadoLibre's cash and equivalents has ranged from $166.88 million in 2015 to $3.67 billion in 2025, and is currently $3.67 billion as of their latest financial filing in 2025.

Over the last 10 years, MercadoLibre's book value per share changed from 7.69 in 2015 to 133.10 in 2025, a change of 1,631.4%.

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Financial statements for NASDAQ:MELI last updated on 2/27/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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MercadoLibre (MELI) Financials

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MercadoLibre (MELI) Financials

Annual Income Statements for MercadoLibre

Quarterly Income Statements for MercadoLibre

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Quarterly Cash Flow Statements for MercadoLibre

Annual Balance Sheets for MercadoLibre

Quarterly Balance Sheets for MercadoLibre

Annual Metrics And Ratios for MercadoLibre

Quarterly Metrics And Ratios for MercadoLibre

Financials Breakdown Chart

Key Financial Trends

MercadoLibre Financials - Frequently Asked Questions

When does MercadoLibre's fiscal year end?

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

What is MercadoLibre's operating income?

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

How much debt does MercadoLibre have?

How much cash does MercadoLibre have?

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

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