MELI (MercadoLibre, Inc.) Stock Financials & Earnings | Market Cap Arena

MELI (MercadoLibre, Inc.) Stock Financials & Earnings | Market Cap Arena

MELIMercadoLibre, Inc.

Mkt Cap$89B

Consumer Cyclical·Specialty Retail· Uruguay·NASDAQ

Revenue (TTM)$28.9B

Net Income (TTM)$2.0B

EPS (TTM)$39.39

Free Cash Flow (TTM)$10.1B

Gross Margin44.5%

Op. Margin11.1%

Net Margin6.9%

FCF Margin35.0%

P/S Ratio (TTM)3.1x

P/E Ratio (TTM)44.8x

YoY Rev Growth+39.1%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$3.2B	$1.6B	$418M
Q2 23	$3.6B	$1.8B	$669M
Q3 23	$3.9B	$2.1B	$785M
Q4 23	$4.3B	$2.0B	$240M
Q1 24	$4.3B	$2.0B	$528M
Q2 24	$5.1B	$2.4B	$726M
Q3 24	$5.3B	$2.4B	$557M
Q4 24	$6.1B	$2.7B	$820M
Q1 25	$5.9B	$2.8B	$763M
Q2 25	$6.8B	$3.1B	$825M
Q3 25	$7.4B	$3.2B	$724M
Q4 25	$8.8B	$3.8B	$889M

Revenue Breakdown

Valuation

Quarter	P/S	P/E
Q1 23	7.8x	144.7x
Q2 23	7.2x	118.2x
Q3 23	6.5x	90.6x
Q4 23	6.0x	90.6x
Q1 24	5.6x	79.2x
Q2 24	5.1x	63.9x
Q3 24	4.7x	62.3x
Q4 24	4.3x	46.8x
Q1 25	4.0x	43.4x
Q2 25	3.7x	43.6x
Q3 25	3.4x	43.1x
Q4 25	3.1x	44.8x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	$859M	$770M
Q2 23	$1.4B	$1.3B
Q3 23	$941M	$815M
Q4 23	$1.9B	$1.7B
Q1 24	$1.2B	$1.1B
Q2 24	$1.9B	$1.7B
Q3 24	$1.6B	$1.4B
Q4 24	$2.9B	$2.6B
Q1 25	$944M	$672M
Q2 25	$2.4B	$2.2B
Q3 25	$2.7B	$2.5B
Q4 25	$5.2B	$4.8B

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$89M
Q2 23	$114M
Q3 23	$126M
Q4 23	$180M
Q1 24	$146M
Q2 24	$184M
Q3 24	$223M
Q4 24	$305M
Q1 25	$272M
Q2 25	$264M
Q3 25	$277M
Q4 25	$427M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	+41.7%	+31.2%
Q2 23	+38.0%	+24.2%
Q3 23	+46.0%	+31.2%
Q4 23	+41.9%	+51.6%
Q1 24	+36.0%	+37.5%
Q2 24	+41.5%	+49.1%
Q3 24	+35.3%	+51.3%
Q4 24	+42.2%	+30.3%
Q1 25	+37.0%	+35.9%
Q2 25	+33.8%	+37.2%
Q3 25	+39.5%	+40.6%
Q4 25	+44.6%	+50.2%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$47M	1.5%
Q2 23	$36M	1.0%
Q3 23	-$83M	-2.1%
Q4 23	$167M	3.9%
Q1 24	$68M	1.6%
Q2 24	$59M	1.2%
Q3 24	$83M	1.6%
Q4 24	$51M	0.8%
Q1 25	$0	0.0%
Q2 25	$0	0.0%
Q3 25	$160M	2.2%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q1 23	$381M	$180M	$383M
Q2 23	$368M	$189M	$383M
Q3 23	$396M	$196M	$441M
Q4 23	$686M	$201M	$529M
Q1 24	$458M	$186M	$478M
Q2 24	$460M	$218M	$511M
Q3 24	$504M	$305M	$566M
Q4 24	$512M	$254M	$636M
Q1 25	$551M	$255M	$599M
Q2 25	$567M	$261M	$751M
Q3 25	$567M	$270M	—
Q4 25	$584M	$292M	$2.0B

Revenue Segments

Quarter	Product	Service
Q1 23	$274M	$2.8B
Q2 23	$364M	$3.1B
Q3 23	$341M	$3.4B
Q4 23	$511M	$3.8B
Q1 24	$378M	$4.0B
Q2 24	$481M	$4.6B
Q3 24	$552M	$4.8B
Q4 24	$728M	$5.3B
Q1 25	$615M	$5.3B
Q2 25	$826M	$6.0B
Q3 25	$933M	$6.5B
Q4 25	$1.2B	$7.5B

Revenue by Geography

Quarter	Argentina Segment	Brazil Segment	Mexico Segment	Other Countries Segment
Q1 23	$721M	$1.6B	$591M	$146M
Q2 23	$771M	$1.8B	$703M	$161M
Q3 23	$825M	$2.0B	$772M	$157M
Q4 23	$923M	$2.2B	$919M	$189M
Q1 24	$615M	$2.6B	$971M	$176M
Q3 24	$1.0B	$2.9B	$1.1B	$221M
Q1 25	$1.4B	$3.1B	$1.2B	$249M
Q2 25	$1.5B	$3.5B	$1.5B	$284M
Q3 25	$1.4B	$4.0B	$1.7B	$308M
Q4 25	$1.6B	$4.6B	$2.1B	$414M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$2.1B	$1.1B	$3.2B
Q2 23	$1.9B	$1.4B	$3.3B
Q3 23	$2.2B	$1.6B	$3.7B
Q4 23	$2.6B	$1.2B	$3.8B
Q1 24	$2.6B	$1.2B	$3.8B
Q2 24	$2.8B	$995M	$3.8B
Q3 24	$2.2B	$1.1B	$3.3B
Q4 24	$2.6B	$1.1B	$3.8B
Q1 25	$3.0B	$741M	$3.7B
Q2 25	$3.0B	$960M	$4.0B
Q3 25	$2.6B	$1.5B	$4.1B
Q4 25	$3.7B	$2.6B	$6.3B

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	51M	-0.1%
Q2 23	51M	-0.2%
Q3 23	50M	-1.8%
Q4 23	51M	+1.0%
Q1 24	51M	-0.0%
Q2 24	51M	+0.0%
Q3 24	51M	-0.0%
Q4 24	51M	+0.0%
Q1 25	51M	+0.0%
Q2 25	51M	+0.0%
Q3 25	51M	+0.0%
Q4 25	51M	-0.0%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 14	$871K	639
FY 15	$769K	848
FY 16	$689K	1K
FY 17	$735K	2K
FY 18	$598K	2K
FY 19	$658K	3K
FY 20	$764K	5K
FY 21	$746K	9K
FY 22	$778K	14K
FY 23	$966K	16K
FY 24	$1M	18K
FY 25	$1M	20K