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MELI

MercadoLibre, Inc.

MELI

MercadoLibre, Inc. • NASDAQ
$2071.78 ▲ 1.89% (+38.46)
Market Cap $105.03 B
52w High $2645.22
52w Low $1646.00
Dividend Yield 0%
P/E 50.51
Volume 200.76K
Outstanding Shares 50.70M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $7.409B ▲ $2.485B ▲ $421M ▼ 5.682% ▼ $8.3 ▼ $485M ▼
Q2-2025 $6.79B ▲ $2.269B ▲ $523M ▲ 7.703% ▼ $10.32 ▲ $951M ▲
Q1-2025 $5.935B ▼ $2.008B ▲ $494M ▼ 8.324% ▼ $9.74 ▼ $917M ▼
Q4-2024 $6.059B ▲ $1.929B ▲ $639M ▲ 10.546% ▲ $12.61 ▲ $963M ▲
Q3-2024 $5.312B $1.882B $397M 7.474% $7.83 $717M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $12.914B ▲ $36.691B ▲ $30.473B ▲ $6.218B ▲
Q2-2025 $3.983B ▼ $32.948B ▲ $27.235B ▲ $5.713B ▲
Q1-2025 $8.069B ▲ $27.682B ▲ $22.678B ▲ $5.004B ▲
Q4-2024 $3.695B ▼ $25.196B ▲ $20.845B ▲ $4.351B ▲
Q3-2024 $6.673B $22.623B $18.621B $4.002B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $421M ▼ $2.741B ▲ $-765.769M ▲ $-81.467M ▼ $3.162B ▲ $2.464B ▲
Q2-2025 $523M ▲ $2.445B ▲ $-1.1B ▲ $880.216M ▲ $2.917B ▲ $2.181B ▲
Q1-2025 $494M ▼ $944M ▼ $-1.842B ▲ $552M ▼ $-201M ▼ $672M ▼
Q4-2024 $639M ▲ $2.924B ▲ $-2.128B ▲ $757M ▲ $1.221B ▲ $2.619B ▲
Q3-2024 $397M $1.6B $-2.608B $726M $-345M $1.377B

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Product
Product
 $730.00M ▲$610.00M ▼$830.00M ▲$930.00M ▲
Service
Service
 $5.33Bn ▲$5.32Bn ▼$5.96Bn ▲$6.48Bn ▲

Five-Year Company Overview

Income Statement

Income Statement MercadoLibre’s income statement shows a business that has scaled rapidly while becoming steadily more profitable. Revenue has multiplied several times over the last five years, and profits have followed, moving from roughly break-even to solidly positive. Margins have improved as fixed costs are spread over a much larger volume of transactions and as higher-margin businesses like fintech and advertising grow. The company is clearly past the “grow at any cost” phase and is now showing that it can grow quickly while also turning that growth into meaningful earnings. The main watchpoint is that maintaining this balance will get harder as the base gets larger and as competition intensifies.

Balance Sheet

Balance Sheet The balance sheet reflects a company investing heavily in its platform and infrastructure. Total assets have grown strongly, supported by expanding operations in e-commerce, fintech, and logistics. Debt has risen over time, which indicates greater use of leverage to fund growth, but shareholder equity has also increased, suggesting that the financial foundation has strengthened alongside the borrowing. Cash levels are healthy but not excessively large relative to the size of the business, implying active reinvestment rather than hoarding liquidity. Key risks to watch are the rising absolute level of debt and the sensitivity of its credit and fintech activities to economic cycles in Latin America.

Cash Flow

Cash Flow Cash flow is a major strength. Operating cash flow has expanded sharply as the business scaled, and free cash flow has remained positive and grown consistently, even after funding capital investments in technology, logistics, and infrastructure. Capital spending has increased but remains well covered by internally generated cash, which reduces reliance on external financing over time. This cash-flow profile gives the company flexibility to keep investing in growth areas like logistics, fintech, and AI, while also providing a cushion against economic volatility in its markets. The main uncertainty lies in how credit losses, regulatory changes, or macro shocks could affect cash generation in a downturn.

Competitive Edge

Competitive Edge MercadoLibre holds a very strong competitive position in Latin America, built around an integrated ecosystem of marketplace, payments, logistics, credit, advertising, and merchant services. This creates powerful network effects: more buyers attract more sellers, more transactions drive payment and credit usage, and better logistics improve user satisfaction, reinforcing the cycle. Its brand is well-known and trusted, and its deep local knowledge gives it an edge against global rivals that lack the same regional focus. However, the company still faces meaningful competition from global e-commerce players, local marketplaces, and emerging fintechs, as well as regulatory and economic risks across multiple countries.

Innovation and R&D

Innovation and R&D Innovation is central to MercadoLibre’s strategy. Rather than relying on a single product, it has built a tightly connected ecosystem that spans e-commerce, payments, credit, logistics, and advertising. The company invests heavily in technology, including the use of open APIs, a dedicated venture fund for commerce-related startups, and growing use of artificial intelligence to improve recommendations, security, and developer productivity. It is also expanding fintech services, exploring new categories like pharmaceuticals and food delivery, and continuing to refine its logistics network. This ongoing experimentation and reinvestment help protect its competitive edge, but they also require sustained capital and careful execution, especially in riskier areas like credit.

Summary

Overall, MercadoLibre appears to be a scaled, fast-growing platform that has successfully transitioned from prioritizing growth alone to combining growth with solid profitability and strong cash generation. Its integrated ecosystem across commerce and fintech provides a wide and durable moat, supported by brand strength, network effects, and local expertise. The financial statements show a company that is investing aggressively yet still generating healthy free cash flow, which is a notable strength. On the risk side, rising leverage, exposure to credit and macro conditions in Latin America, intensifying competition, and regulatory complexity all bear watching. The long-term story hinges on its ability to keep innovating in fintech, logistics, and AI while managing these risks and maintaining the quality of its growth.

NEWS

November 13, 2025 · 8:07 AM UTC

Mercado Libre's CFO, Martin de los Santos, Discusses Q3'2025 Results in Latest CFO Perspectives Episode

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October 29, 2025 · 5:33 PM UTC

Mercado Libre's Strategic Investments Drive Net Revenue to $7.4 Billion in Q3 2025, Marking the 27th Consecutive Quarter of Growth Above 30% YoY

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October 29, 2025 · 4:00 PM UTC

MercadoLibre, Inc. Reports Third Quarter 2025 Financial Results

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October 27, 2025 · 10:31 AM UTC

Mercado Libre Launches New Episode of Inside MercadoLibre, featuring Roberta Donato – Brazil Marketplace VP – on Seller Tools

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October 23, 2025 · 8:24 PM UTC

MercadoLibre, Inc. to Report Third Quarter 2025 Financial Results

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