NASDAQ : MELI
MercadoLibre, Inc. — Financial statements
Consumer Discretionary · Internet Retail · Uruguay
Last price 1660.13 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 84.16B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
MercadoLibre, Inc. (MELI) reported revenue of 35.18B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 35.18B | 28.89B | 20.78B | 15.11B | 10.78B | 7.07B |
| Cost of Revenue | 18.38B | 14.25B | 9.83B | 6.35B | 4.77B | 3.50B |
| Gross Profit | 16.80B | 14.64B | 10.94B | 8.76B | 6.01B | 3.57B |
| Selling, General & Admin | 5.21B | 4.30B | 3.15B | 2.50B | 1.95B | 1.53B |
| Research & Development | 2.58B | 2.27B | 1.93B | 1.83B | 1.10B | 590.00M |
| Other Operating Expenses | 1.78B | 1.78B | 1.37B | 1.17B | 812.00M | 569.00M |
| Operating Expenses | 13.89B | 11.44B | 8.31B | 6.55B | 4.93B | 3.12B |
| Operating Income | 2.91B | 3.20B | 2.63B | 2.21B | 1.08B | 450.00M |
| Interest Expense | -212.00M | -160.00M | -165.00M | -174.00M | -135.00M | -161.00M |
| Interest & Investment Income | 30.00M | 54.00M | 80.00M | 135.00M | 44.00M | 102.00M |
| Earnings From Equity Investments | 3.00M | -9.00M | ||||
| Currency Exchange Gain (Loss) | -204.00M | -337.00M | -182.00M | -615.00M | -198.00M | -109.00M |
| Other Non Operating Income (Expenses) | -19.00M | |||||
| EBT Excluding Unusual Items | 2.52B | 2.76B | 2.36B | 1.56B | 792.00M | 254.00M |
| Gain (Loss) on Sale of Investments | 83.00M | 83.00M | 57.00M | 36.00M | ||
| Asset Writedown | -12.00M | -9.00M | ||||
| Other Unusual Items | 1.00M | 1.00M | 11.00M | -49.00M | ||
| Pretax Income | 2.60B | 2.84B | 2.43B | 1.56B | 780.00M | 232.00M |
| Income Tax Expense | 742.00M | 845.00M | 521.00M | 569.00M | 298.00M | 149.00M |
| Net Income | 1.86B | 2.00B | 1.91B | 987.00M | 482.00M | 83.00M |
| Net Income to Common | 1.86B | 2.00B | 1.91B | 987.00M | 482.00M | 83.00M |
| Shares Outstanding (Basic) | 50.70M | 50.70M | 50.70M | 50.26M | 50.35M | 49.80M |
| Shares Outstanding (Diluted) | 50.70M | 50.70M | 50.70M | 51.01M | 51.34M | 49.80M |
| EPS (Basic) | 36.75 | 39.39 | 37.69 | 19.64 | 9.57 | 1.67 |
| EPS (Diluted) | 36.75 | 39.39 | 37.69 | 19.46 | 9.53 | 1.67 |
| Free Cash Flow | 12.41B | 10.77B | 7.06B | 4.63B | 2.48B | 392.00M |
| Free Cash Flow Per Share | 244.77 | 212.50 | 139.22 | 90.79 | 48.41 | 7.87 |
| Gross Margin | 47.75% | 50.68% | 52.67% | 57.95% | 55.75% | 50.56% |
| Operating Margin | 8.26% | 11.08% | 12.66% | 14.61% | 10.03% | 6.37% |
| Profit Margin | 5.29% | 6.91% | 9.20% | 6.53% | 4.47% | 1.17% |
| Free Cash Flow Margin | 35.27% | 37.29% | 33.97% | 30.65% | 23.05% | 5.54% |
| EBITDA | 3.89B | 4.02B | 3.25B | 2.73B | 1.48B | 654.00M |
| EBITDA Margin | 11.06% | 13.91% | 15.63% | 18.08% | 13.77% | 9.25% |
| D&A For EBITDA | 985.00M | 818.00M | 617.00M | 524.00M | 403.00M | 204.00M |
| EBIT | 2.91B | 3.20B | 2.63B | 2.21B | 1.08B | 450.00M |
| EBIT Margin | 8.26% | 11.08% | 12.66% | 14.61% | 10.03% | 6.37% |
| Effective Tax Rate | 28.48% | 29.73% | 21.42% | 36.57% | 38.20% | 64.22% |
| Revenue as Reported | 35.18B | 28.89B | 20.78B | 15.11B | 10.78B | 7.07B |
| Advertising Expenses | 1.69B | 1.05B | 787.00M | 593.00M | 531.00M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 3.65B | 3.67B | 2.63B | 2.56B | 1.91B | 2.58B |
| Short-Term Investments | 2.08B | 2.63B | 4.49B | 3.48B | 1.12B | 208.00M |
| Trading Asset Securities | 15.00M | 14.00M | 9.00M | |||
| Cash & Short-Term Investments | 5.75B | 6.31B | 7.13B | 6.04B | 3.03B | 2.79B |
| Accounts Receivable | 8.77B | 7.26B | 5.54B | 3.79B | 3.08B | 1.93B |
| Other Receivables | 474.00M | 216.00M | 140.00M | 195.00M | 212.00M | |
| Receivables | 20.18B | 16.59B | 10.47B | 6.56B | 4.97B | 3.34B |
| Inventory | 822.00M | 570.00M | 296.00M | 238.00M | 152.00M | 253.00M |
| Prepaid Expenses | 69.00M | 46.00M | 27.00M | 38.00M | 40.00M | |
| Restricted Cash | 13.11B | 9.87B | 2.06B | 1.29B | 1.45B | 1.06B |
| Other Current Assets | 922.00M | 163.00M | 132.00M | 110.00M | 1.30B | 688.00M |
| Total Current Assets | 40.78B | 33.57B | 20.14B | 14.26B | 10.95B | 8.18B |
| Property, Plant & Equipment | 5.29B | 4.50B | 2.48B | 2.15B | 1.65B | 1.27B |
| Long-Term Investments | 1.71B | 1.77B | 1.21B | 161.00M | 301.00M | 76.00M |
| Goodwill | 168.00M | 163.00M | 149.00M | 163.00M | 153.00M | 148.00M |
| Other Intangible Assets | 30.00M | 33.00M | 12.00M | 11.00M | 16.00M | 24.00M |
| Long-Term Accounts Receivable | 170.00M | 153.00M | ||||
| Long-Term Deferred Tax Assets | 2.17B | 1.54B | 802.00M | 710.00M | 346.00M | 181.00M |
| Other Long-Term Assets | 456.00M | 423.00M | 225.00M | 93.00M | 286.00M | 168.00M |
| Total Assets | 51.36B | 42.67B | 25.20B | 17.61B | 13.74B | 10.10B |
| Accounts Payable | 10.73B | 6.71B | 4.22B | 3.19B | 1.88B | 1.37B |
| Accrued Expenses | 830.00M | 916.00M | 727.00M | 545.00M | 401.00M | 313.00M |
| Short-Term Debt | 261.00M | 143.00M | 26.00M | 33.00M | 19.00M | 148.00M |
| Current Portion of Long-Term Debt | 6.20B | 4.46B | 2.78B | 2.23B | 2.11B | 1.13B |
| Current Portion of Leases | 562.00M | 478.00M | 282.00M | 201.00M | 156.00M | 102.00M |
| Current Income Taxes Payable | 1.22B | 1.14B | 525.00M | 477.00M | 414.00M | 291.00M |
| Current Unearned Revenue | 172.00M | 133.00M | 77.00M | 51.00M | 44.00M | 34.00M |
| Other Current Liabilities | 16.40B | 14.65B | 7.97B | 4.54B | 3.54B | 2.45B |
| Total Current Liabilities | 36.37B | 28.63B | 16.60B | 11.26B | 8.56B | 5.84B |
| Long-Term Debt | 4.08B | 4.49B | 2.82B | 2.12B | 2.60B | 2.20B |
| Long-Term Leases | 2.10B | 1.85B | 975.00M | 768.00M | 551.00M | 408.00M |
| Long-Term Deferred Tax Liabilities | 312.00M | 372.00M | 204.00M | 183.00M | 106.00M | 62.00M |
| Other Long-Term Liabilities | 650.00M | 570.00M | 243.00M | 210.00M | 94.00M | 66.00M |
| Total Liabilities | 43.52B | 35.92B | 20.84B | 14.54B | 11.91B | 8.57B |
| Additional Paid-In Capital | 1.77B | 1.77B | 1.77B | 1.77B | 2.31B | 2.44B |
| Retained Earnings | 6.69B | 5.81B | 3.81B | 1.90B | 913.00M | 397.00M |
| Treasury Stock | -313.00M | -312.00M | -311.00M | -310.00M | -931.00M | -790.00M |
| Comprehensive Income & Other | -317.00M | -520.00M | -920.00M | -290.00M | -464.00M | -515.00M |
| Total Common Equity | 7.83B | 6.75B | 4.35B | 3.07B | 1.83B | 1.53B |
| Shareholders' Equity | 7.83B | 6.75B | 4.35B | 3.07B | 1.83B | 1.53B |
| Total Liabilities & Equity | 51.36B | 42.67B | 25.20B | 17.61B | 13.74B | 10.10B |
| Total Debt | 13.21B | 11.42B | 6.88B | 5.35B | 5.43B | 3.98B |
| Net Cash (Debt) | -7.46B | -5.11B | 250.00M | 686.00M | -2.40B | -1.19B |
| Net Cash Per Share | -147.19 | -100.74 | 4.93 | 13.45 | -46.73 | -23.87 |
| Filing Date Shares Outstanding | 50.70M | 50.70M | 50.70M | 50.70M | 50.26M | 50.42M |
| Total Common Shares Outstanding | 50.70M | 50.70M | 50.70M | 50.70M | 50.26M | 50.42M |
| Working Capital | 4.41B | 4.94B | 3.54B | 3.00B | 2.39B | 2.34B |
| Book Value Per Share | 154.53 | 133.10 | 85.82 | 60.58 | 36.35 | 30.37 |
| Tangible Book Value | 7.64B | 6.55B | 4.19B | 2.90B | 1.66B | 1.36B |
| Tangible Book Value Per Share | 150.62 | 129.24 | 82.65 | 57.14 | 32.99 | 26.95 |
| Land | 79.00M | 74.00M | 83.00M | 118.00M | 141.00M | |
| Machinery | 2.33B | 1.44B | 1.23B | 911.00M | 600.00M | |
| Construction In Progress | 374.00M | 144.00M | 62.00M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 1.86B | 2.00B | 1.91B | 987.00M | 482.00M | 83.00M |
| Depreciation & Amortization | 985.00M | 818.00M | 617.00M | 524.00M | 403.00M | 204.00M |
| Loss (Gain) on Equity Investments | -3.00M | 9.00M | ||||
| Stock-Based Compensation | 280.00M | 303.00M | 261.00M | 167.00M | 84.00M | 89.00M |
| Provision & Write-off of Bad Debts | 4.32B | 3.09B | 1.86B | 1.05B | 1.07B | 435.00M |
| Other Operating Activities | -1.01B | -16.00M | 80.00M | 620.00M | 487.00M | 146.00M |
| Change in Accounts Receivable | -1.99B | -1.51B | -2.69B | -1.41B | -71.00M | -26.00M |
| Change in Inventory | -361.00M | -235.00M | -113.00M | -69.00M | 114.00M | -142.00M |
| Change in Accounts Payable | 2.10B | 1.49B | 1.59B | 1.23B | 449.00M | 380.00M |
| Change in Other Net Operating Assets | 7.71B | 6.18B | 4.40B | 2.05B | -81.00M | -213.00M |
| Operating Cash Flow | 13.90B | 12.12B | 7.92B | 5.14B | 2.94B | 965.00M |
| Capital Expenditures | -1.50B | -1.34B | -860.00M | -509.00M | -455.00M | -573.00M |
| Cash Acquisitions | -6.00M | -51.00M | ||||
| Sale (Purchase) of Intangibles | 75.00M | 75.00M | -36.00M | |||
| Investment in Securities | 2.19B | 1.84B | -2.75B | -836.00M | -1.67B | 425.00M |
| Other Investing Activities | -167.00M | -88.00M | 15.00M | -58.00M | -44.00M | -14.00M |
| Investing Cash Flow | -7.27B | -6.18B | -8.29B | -3.45B | -3.87B | -1.60B |
| Long-Term Debt Issued | 44.05B | 19.47B | 24.96B | 17.02B | 9.26B | |
| Long-Term Debt Repaid | -41.15B | -17.51B | -24.87B | -15.95B | -8.67B | |
| Net Debt Issued (Repaid) | 2.93B | 2.90B | 1.96B | 89.00M | 1.06B | 595.00M |
| Issuance of Common Stock | 1.52B | |||||
| Repurchase of Common Stock | -2.00M | -1.00M | -1.00M | -356.00M | -148.00M | -486.00M |
| Other Financing Activities | 296.00M | |||||
| Financing Cash Flow | 2.93B | 2.90B | 1.96B | -267.00M | 916.00M | 1.93B |
| Foreign Exchange Rate Adjustments | 315.00M | -3.00M | -739.00M | -938.00M | -270.00M | -153.00M |
| Net Cash Flow | 9.88B | 8.84B | 851.00M | 485.00M | -285.00M | 1.14B |
| Free Cash Flow | 12.41B | 10.77B | 7.06B | 4.63B | 2.48B | 392.00M |
| Free Cash Flow Margin | 35.27% | 37.29% | 33.97% | 30.65% | 23.05% | 5.54% |
| Free Cash Flow Per Share | 244.77 | 212.50 | 139.22 | 90.79 | 48.41 | 7.87 |
| Levered Free Cash Flow | 353.38M | -2.46B | 1.49B | 3.67B | -97.75M | -1.20B |
| Unlevered Free Cash Flow | 485.88M | -2.36B | 1.59B | 3.78B | -13.38M | -1.10B |
| Cash Interest Paid | 611.00M | 611.00M | 456.00M | 608.00M | 247.00M | 58.00M |
| Cash Income Tax Paid | 1.01B | 1.01B | 1.05B | 651.00M | 437.00M | 282.00M |
| Change in Working Capital | 7.47B | 5.92B | 3.19B | 1.79B | 411.00M | -1.00M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 86.01B | 102.12B | 86.21B | 79.46B | 42.56B | 72.08B |
| Enterprise Value | 93.47B | 105.71B | 85.87B | 79.21B | 45.46B | 73.92B |
| Last Close Price | 1,624.53 | 2,014.26 | 1,700.44 | 1,571.54 | 846.24 | 1,348.40 |
| PE Ratio | 46.17 | 51.13 | 45.11 | 80.50 | 88.30 | 868.48 |
| Forward PE | 41.05 | 40.59 | 46.01 | 48.77 | 54.94 | 169.46 |
| PS Ratio | 2.45 | 3.53 | 4.15 | 5.26 | 3.95 | 10.20 |
| PB Ratio | 10.51 | 15.13 | 19.81 | 25.87 | 23.30 | 47.08 |
| P/TBV Ratio | 11.30 | 15.59 | 20.57 | 27.43 | 25.67 | 53.04 |
| P/FCF Ratio | 6.95 | 9.48 | 12.21 | 17.16 | 17.13 | 183.89 |
| P/OCF Ratio | 6.21 | 8.43 | 10.89 | 15.46 | 14.48 | 74.70 |
| PEG Ratio | 1.39 | 1.26 | 1.54 | 1.30 | 1.10 | 9.00 |
| EV/Sales Ratio | 2.66 | 3.66 | 4.13 | 5.24 | 4.22 | 10.46 |
| EV/EBITDA Ratio | 24.09 | 26.30 | 26.44 | 29.00 | 30.63 | 113.03 |
| EV/EBIT Ratio | 32.25 | 33.02 | 32.64 | 35.89 | 42.05 | 164.27 |
| EV/FCF Ratio | 7.56 | 9.81 | 12.17 | 17.11 | 18.29 | 188.57 |
| Debt / Equity Ratio | 1.69 | 1.69 | 1.58 | 1.74 | 2.97 | 2.60 |
| Debt / EBITDA Ratio | 2.97 | 2.54 | 1.96 | 1.82 | 3.33 | 5.33 |
| Debt / FCF Ratio | 1.06 | 1.06 | 0.97 | 1.16 | 2.19 | 10.16 |
| Net Debt / Equity Ratio | 0.95 | 0.76 | -0.06 | -0.22 | 1.31 | 0.78 |
| Net Debt / EBITDA Ratio | 1.92 | 1.27 | -0.08 | -0.25 | 1.62 | 1.82 |
| Net Debt / FCF Ratio | 0.60 | 0.47 | -0.04 | -0.15 | 0.96 | 3.03 |
| Asset Turnover | 0.83 | 0.85 | 0.97 | 0.96 | 0.90 | 0.85 |
| Inventory Turnover | 29.27 | 32.91 | 36.83 | 32.57 | 23.56 | 18.83 |
| Quick Ratio | 0.40 | 0.49 | 0.78 | 0.89 | 0.74 | 0.84 |
| Current Ratio | 1.12 | 1.17 | 1.21 | 1.27 | 1.28 | 1.40 |
| Return on Equity (ROE) | 27.50% | 35.98% | 51.50% | 40.30% | 28.71% | 5.22% |
| Return on Assets (ROA) | 4.31% | 5.90% | 7.68% | 8.80% | 5.67% | 3.38% |
| Return on Invested Capital (ROIC) | 14.20% | 28.19% | 63.75% | 42.35% | 19.23% | 8.90% |
| Return on Capital Employed (ROCE) | 19.40% | 22.80% | 30.60% | 34.80% | 20.90% | 10.60% |
| Earnings Yield | 2.17% | 1.96% | 2.22% | 1.24% | 1.13% | 0.11% |
| FCF Yield | 14.38% | 10.55% | 8.19% | 5.83% | 5.84% | 0.54% |
| Buyback Yield / Dilution | 0.00% | 0.61% | 0.64% | -3.08% | -0.13% | |
| Total Shareholder Return | 0.61% | 0.64% | -3.08% | -0.13% |