Financials · MELI

MercadoLibre Inc. (MELI) financials

For the twelve months ended Sep 30, 2026, MercadoLibre Inc. reported $38.52B of revenue and $1.89B of net income.

Revenue, TTM
$38.52B
Revenue growth, YoY
+47.1%
Net income, TTM
$1.89B
Net income growth, YoY
-9.0%
Net margin
4.9%
Free cash flow, TTM
$12.25B
EPS, diluted, TTM
$37.28
EPS growth, YoY
-9.0%
Cash
$4.16B
Total debt
$13.19B
P/E
41.05
P/S
2.01
Market cap
$77.58B
Annual revenue$28.89B
FY2016FY2025
Annual net income$2.00B
FY2016FY2025
Annual free cash flow$10.77B
FY2016FY2025

MELI revenue and earnings growth

MELI revenueQ3 2026$10.75B

Quarter YoY
+45.1%
QoQ
+5.7%
FY YoY
+39.1%
5Y CAGR
+48.7%

MELI revenue was $10.75B in fiscal Q3 2026 (ended Sep 30, 2026), up 45.1% from a year earlier and up 5.7% from the prior quarter. For the full fiscal 2025 it was $28.89B, up 39.1% from fiscal 2024. Compound annual growth was +48.7% over 5 years. It rose in each of the last 9 fiscal years. Fiscal 2025 is the highest of the 10 fiscal years on file.

MELI net incomeQ3 2026$448.00M

Quarter YoY
+6.4%
QoQ
-3.9%
FY YoY
+4.5%
10Y CAGR
+34.2%

MELI net income was $448.00M in fiscal Q3 2026 (ended Sep 30, 2026), up 6.4% from a year earlier and down 3.9% from the prior quarter. For the full fiscal 2025 it was $2.00B, up 4.5% from fiscal 2024. Compound annual growth was +34.2% over 10 years. It rose in each of the last 4 fiscal years. Fiscal 2025 is the highest of the 15 fiscal years on file.

MELI EPSQ3 2026$8.83

Quarter YoY
+6.1%
QoQ
-3.9%
FY YoY
+4.5%
10Y CAGR
+32.3%

MELI diluted EPS was $8.83 in fiscal Q3 2026 (ended Sep 30, 2026), up 6.1% from a year earlier and down 3.9% from the prior quarter. For the full fiscal 2025 it was $39.40, up 4.5% from fiscal 2024. Compound annual growth was +32.3% over 10 years.

MELI free cash flowQ3 2026$2.45B

Quarter YoY
-6.0%
QoQ
-24.0%
FY YoY
+52.6%
5Y CAGR
+63.0%
10Y CAGR
+50.4%

MELI free cash flow was $2.45B in fiscal Q3 2026 (ended Sep 30, 2026), down 6.0% from a year earlier and down 24.0% from the prior quarter. For the full fiscal 2025 it was $10.77B, up 52.6% from fiscal 2024. Compound annual growth was +63.0% over 5 years and +50.4% over 10 years. It rose in 7 of the last 10 fiscal years. Fiscal 2025 is the highest of the 15 fiscal years on file.

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Income statement

Income statement
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Revenue$28.89B$20.78B$15.11B$10.78B$7.07B$3.97B$2.30B$1.44B$1.22B$844.40M
Cost of revenue$16.04B$11.20B$7.52B$5.58B$4.06B$2.27B$1.19B$742.64M$496.94M$307.54M
Gross profit$12.86B$9.58B$7.59B$5.20B$3.00B$1.71B$1.10B$697.01M$719.60M$536.86M
Research and development$2.27B$1.93B$1.83B$1.10B$590.00M$353.00M$223.81M$146.27M$127.16M$98.48M
Selling, general and admin$1.08B$963.00M$766.00M$661.00M$465.00M$327.00M$197.46M$137.77M$122.19M$87.31M
Operating income$3.20B$2.63B$2.21B$1.07B$441.00M$128.00M-$153.16M-$69.48M$56.27M$181.06M
Pre-tax income$2.84B$2.43B$1.55B$780.00M$241.00M$81.00M-$107.25M-$65.45M$54.07M$185.33M
Income tax$845.00M$521.00M$569.00M$298.00M$149.00M$82.00M$64.75M-$28.87M$40.29M$48.96M
Net income$2.00B$1.91B$987.00M$482.00M$83.00M-$1.00M-$172.00M-$36.59M$13.78M$136.37M
EPS, basic$39.40$37.69$19.64$9.57$1.67-$0.08-$3.71-$0.82$0.31$3.09
EPS, diluted$39.40$37.69$19.46$9.53$1.67-$0.08-$3.71-$0.82$0.31$3.09
Diluted shares50.7M50.7M51.0M51.3M49.8M49.7M48.7M44.5M44.2M44.2M

Balance sheet

Balance sheet
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Cash and equivalents$3.67B$4.70B$3.85B$3.36B$3.65B$2.51B$1.45B$464.69M$388.26M$234.14M
Short-term investments$2.63B$4.49B$3.48B$2.34B$810.00M$1.24B$1.60B$461.54M$209.43M$253.32M
Receivables$369.00M$255.00M$156.00M$130.00M$98.00M$49.69M$35.45M$35.15M$28.17M$25.43M
Inventory$570.00M$296.00M$238.00M$152.00M$253.00M$118.14M$8.63M$4.61M$2.55M$1.10M
Current assets$33.57B$20.14B$14.26B$10.95B$8.18B$5.35B$3.79B$1.51B$1.29B$869.46M
Goodwill$163.00M$149.00M$163.00M$153.00M$148.00M$85.00M$87.61M$88.88M$92.28M$91.80M
Total assets$42.67B$25.20B$17.61B$13.74B$10.10B$6.53B$4.78B$2.24B$1.67B$1.37B
Current liabilities$28.63B$16.60B$11.26B$8.56B$5.84B$3.64B$1.75B$1.17B$968.03M$576.60M
Long-term debt$4.57B$2.89B$2.20B$2.63B$2.23B$860.88M$631.35M$602.23M--
Total debt$4.57B$2.89B$2.20B$2.63B$2.23B$860.88M$631.35M$602.23M--
Total liabilities$35.92B$20.84B$14.54B$11.91B$8.57B$4.87B$2.70B$1.90B$1.35B$938.58M
Shareholders' equity$6.75B$4.35B$3.07B$1.83B$1.53B$1.65B$1.98B$336.70M$325.78M$428.85M

Cash flow

Cash flow
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Operating cash flow$12.12B$7.92B$5.14B$2.94B$965.00M$1.18B$451.09M$230.91M$269.01M$190.26M
Capital expenditures$1.34B$860.00M$509.00M$455.00M$573.00M$247.00M$136.80M$93.14M$55.16M$68.53M
Free cash flow$10.77B$7.06B$4.63B$2.48B$392.00M$935.00M$314.29M$137.77M$213.85M$121.73M
Investing cash flow-$6.18B-$8.29B-$3.45B-$3.87B-$1.60B-$252.00M-$1.45B-$672.46M-$22.64M-$84.24M
Financing cash flow$2.90B$1.96B-$267.00M$916.00M$1.93B$242.00M$2.02B$608.88M-$50.90M-$19.67M
Dividends paid-------$6.62M$26.50M$24.42M
Share repurchases$1.00M$1.00M$356.00M$148.00M$486.00M$54.00M$720.0K---
Stock-based compensation-------$27.52M$35.72M$22.98M
Depreciation and amortization$818.00M$617.00M$524.00M$403.00M$204.00M$105.00M$73.32M$45.79M$40.92M$29.02M

Key ratios

Key ratios
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Revenue growth, YoY39.1%37.5%40.1%52.5%77.9%73.1%59.5%18.3%44.1%-
Net income growth, YoY4.5%93.6%104.8%480.7%-----89.9%28.9%
EPS growth, YoY4.5%93.7%104.2%470.7%-----90.0%28.8%
Gross margin44.5%46.1%50.2%48.2%42.5%43.0%48.0%48.4%59.2%63.6%
Operating margin11.1%12.7%14.6%9.9%6.2%3.2%-6.7%-4.8%4.6%21.4%
Net margin6.9%9.2%6.5%4.5%1.2%-0.0%-7.5%-2.5%1.1%16.1%
Free cash flow margin37.3%34.0%30.7%23.1%5.5%23.5%13.7%9.6%17.6%14.4%
Return on equity29.6%43.9%32.1%26.4%5.4%-0.1%-8.7%-10.9%4.2%31.8%
Return on assets4.7%7.6%5.6%3.5%0.8%-0.0%-3.6%-1.6%0.8%10.0%
Current ratio1.171.211.271.281.401.472.161.301.331.51
Debt to equity0.680.660.721.441.460.520.321.79--

Source: XBRL data MercadoLibre Inc. files with the SEC, latest filing dated Nov 5, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

MELI peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
MELI$38.52B+47.1%$1.89B4.9%$77.58B
V$45.90B+14.8%$23.50B51.2%$755.06B
MA$36.29B+15.3%$16.96B46.7%$571.42B
BABACN¥1.02T+2.7%CN¥103.59B10.1%$261.80B
ACN$74.18B+6.5%$8.37B11.3%$177.32B
UBER$56.53B+13.9%$3.46B6.1%$140.49B
PDDCN¥431.85B+9.7%CN¥97.84B22.7%$119.49B
DASH$17.06B+35.0%$1.06B6.2%$78.44B
RELX£9.59B+1.7%£2.06B21.5%$72.44B

MELI FAQ

9 questions
  • What is MELI revenue?
    MercadoLibre Inc. (MELI) reported $38.52B of revenue for the twelve months ended Sep 30, 2026. That is up 47.1% from the year before. Revenue for fiscal 2025 was $28.89B.
  • Is MELI profitable?
    Yes. MercadoLibre Inc. earned $1.89B in net income for the twelve months ended Sep 30, 2026, a net margin of 4.9%.
  • How much cash and debt does MELI have?
    MercadoLibre Inc. reported $4.16B in cash and cash equivalents and $13.19B of debt on its most recent balance sheet in SEC filings.
  • How fast is MELI revenue growing?
    MercadoLibre Inc.'s revenue changed +39.1% in fiscal 2025, to $28.89B. Its compound annual growth rate was +48.7% over 5 years.
  • What is MELI gross margin?
    MercadoLibre Inc.'s gross profit was $16.19B on $38.52B of revenue for the twelve months ended Sep 30, 2026, a gross margin of 42.0%.
  • What is MELI free cash flow?
    MercadoLibre Inc. generated $12.25B of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of $13.90B less capital expenditures.
  • What is MELI earnings per share?
    Diluted earnings per share were $37.28 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.
  • When did MELI last report financial results?
    The latest statements here come from MercadoLibre Inc.'s 10-Q filed on Nov 5, 2026, covering the period ended Sep 30, 2026.
  • Where does this MELI financial data come from?
    Quantisnow builds these statements from the structured XBRL data MercadoLibre Inc. files with the SEC. It is provided for information only and is not investment advice.