MercadoLibre, Inc. (MELI) Stock Analysis
Consumer Cyclical · Internet Retail · NasdaqGS
MercadoLibre, Inc. (MELI) posted $28.89B in revenue for fiscal 2025 (up 39.1% year over year), at a 6.9% net margin, and has compounded revenue about 48.7%/yr over five years, per its SEC filings.
Data last refreshed August 2, 2026 from SEC filings · how we compute this
The analyst's take on MercadoLibre, Inc.
MercadoLibre, Inc. has grown revenue from $844.40M to $28.89B over the last 10 fiscal years, compounding about 48.7% a year. The most recent year was up 39.1%, so growth has cooled from its longer-run pace.
Net margin sits at 6.9%, down 2.3 points year over year on a 44.5% gross margin. It carries about $9.06B of total debt.
At today's valuation the market is pricing in roughly -6.1% annual free-cash-flow growth — versus the 63% it actually delivered over the last five years, so the price is arguably undemanding against what it has already proven. The one thing worth a second look in the filings is receivables growing faster than sales.
Synthesised from MercadoLibre, Inc.'s SEC filings — descriptive, not advice. Ask the analyst your own question →
MercadoLibre, Inc. revenue & earnings — last 10 fiscal years
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $844.40M | $1.22B | $1.44B | $2.30B | $3.97B | $7.07B | $10.78B | $15.11B | $20.78B | $28.89B |
| Gross profit | $536.86M | $719.60M | $697.01M | $1.10B | $1.71B | $3.00B | $5.20B | $7.59B | $9.58B | $12.86B |
| Net income | $136.37M | $13.78M | $-36.59M | $-172.00M | $-1.00M | $83.00M | $482.00M | $987.00M | $1.91B | $2.00B |
| Net margin | 16.1% | 1.1% | -2.5% | -7.5% | -0.0% | 1.2% | 4.5% | 6.5% | 9.2% | 6.9% |
Source: MercadoLibre, Inc. SEC filings (10-K). 18 years of history available in the interactive view.
MercadoLibre, Inc.: 2 potential red flags in the filings
Patterns in the filed statements worth a second look — computed and cited, not AI guesswork, and not a signal to sell. The kind of thing that hides in a 10-K.
- Receivables growing faster than salesAccounts receivable rose 58.4% while revenue rose 39.1% in the latest year — a gap that can signal looser credit terms or pulled-forward sales. Worth checking days-sales-outstanding.
- Inventory building faster than salesInventory rose 92.6% versus revenue 39.1% — possible overproduction or softening demand.
What growth is priced into MELI stock?
At today's market cap of $80.29B, MercadoLibre, Inc. is priced for free-cash-flow growth of about -6.1% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $10.77B from the FY ending 2025-12-31). For comparison, free cash flow actually grew 63%/yr over the last five fiscal years and revenue 48.7%/yr, computed from its SEC filings. This is a reverse DCF — a translation of the price into a growth assumption you can judge, not a fair value and not advice. Change the assumptions yourself in the interactive view →
Explore 18 years of MercadoLibre, Inc. financials — interactive
Full income statement, balance sheet and cash flow with CAGR and trend on every row, 48 quarters, valuation ratios, plain-English health checks, and Ask — our SEC-grounded research assistant.
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MercadoLibre, Inc. financial history by metric
About MercadoLibre, Inc.
MercadoLibre, Inc. operates online commerce platforms in Brazil, Mexico, Argentina, and internationally. The company operates Mercado Libre Marketplace, an online commerce platform that can be accessed through mobile app or website; and Mercado Pago, a financial technology solution platform, which offers comprehensive set of financial technology services to users and other users of its e-commerce platform. It also provides Mercado Fondo that allows users to invest funds deposited in their Mercado Pago accounts; Mercado Credito, which grants loans and obtains better funding alternatives; and Mercado Mercado Envios that facilitates the shipping of goods from the Company and sellers to buyers. In addition, the company provides Mercado Libre Classifieds, where users can list vehicles, properties, and services; Mercado Ads, an advertising platform, which enables retailers and brands to promote their products and services on the platform. MercadoLibre, Inc. was incorporated in 1999 and is headquartered in Montevideo, Uruguay.
MercadoLibre, Inc. — frequently asked questions
What is MercadoLibre, Inc.'s revenue?
MercadoLibre, Inc. (MELI) reported revenue of $28.89B for fiscal year 2025, up 39.1% from the prior year, according to its SEC filings.
Is MercadoLibre, Inc. profitable?
Yes. MELI earned net income of $2.00B in fiscal 2025, a net margin of 6.9%.
What is MELI's P/E ratio?
MercadoLibre, Inc. trades at a price-to-earnings ratio of about 41.7 based on the latest data in our nightly-refreshed cache.
How fast is MercadoLibre, Inc. growing?
MELI's revenue grew at roughly 48.7% per year over the last five fiscal years (compound annual growth rate), computed from SEC-filed statements.
How much debt does MercadoLibre, Inc. have?
As of fiscal year 2025, MELI carried roughly $9.06B in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is MercadoLibre, Inc.'s gross margin?
MELI's gross margin was 44.5% in fiscal 2025 — gross profit of $12.86B on revenue of $28.89B.
What is MercadoLibre, Inc.'s market cap?
MercadoLibre, Inc. (MELI) has a market capitalization of about $80.29B, based on the latest data in our nightly-refreshed cache.
When does MercadoLibre, Inc.'s fiscal year end?
MELI's fiscal year ends in December. Its most recent annual filing covers the fiscal year ending 2025-12-31.
What growth is priced into MELI stock?
At today's market cap of $80.29B, MercadoLibre, Inc. is priced for free-cash-flow growth of about -6.1% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $10.77B from the FY ending 2025-12-31). For comparison, free cash flow actually grew 63%/yr over the last five fiscal years and revenue 48.7%/yr, computed from its SEC filings.
Where does this data come from?
All figures are computed from MercadoLibre, Inc.'s official SEC filings (10-K and 10-Q), covering 18 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.