MercadoLibre, Inc.
- Open
- 1950.00
- Day high
- 2066.00
- Day low
- 1950.00
- Prev close
- 2006.58
- Volume
- 131K
- Mkt cap
- $101.7B
- P/E (TTM)
- 54.6
- EPS (TTM)
- $37.21
- P/B
- 13.0
- P/S
- 2.9
- Yield
- —
- Per share
- —
- ▲Insiders net buying $201K over the last 3 months (1 open-market buy, 0 sales)
- 🏛Institutions accumulating (13F)
MercadoLibre, Inc. (MELI) is a Consumer Cyclical company listed on NASDAQ. The stock is down 16% over the past year. Over the trailing 3 months, insiders filed 1 open-market buy and 0 sales (SEC Form 4). Drillr has 2 published research articles covering MELI.
MercadoLibre, Inc. (MELI) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 4 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
MELI earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 5, 2026 | $8.65 | $9.19 | +6.2% | $10.2B | +4.1% |
| May 7, 2026 | $8.75 | $8.23 | -5.9% | $8.8B | +6.7% |
| Feb 24, 2026 | $11.45 | $11.03 | -3.7% | $8.8B | +3.7% |
| Oct 29, 2025 | $9.12 | $8.32 | -8.8% | $7.4B | +2.7% |
| May 7, 2025 | $8.27 | $9.74 | +17.8% | $5.9B | +8.2% |
| Feb 20, 2025 | $10.21 | $12.61 | +23.5% | $6.1B | +4.1% |
| Aug 1, 2024 | $8.55 | $10.48 | +22.6% | $5.1B | +9.2% |
| May 2, 2024 | $6.07 | $6.78 | +11.7% | $4.3B | +12.5% |
| Feb 22, 2024 | $7.08 | $3.25 | -54.1% | $4.3B | +3.0% |
| Nov 1, 2023 | $5.86 | $7.16 | +22.2% | $3.8B | +5.2% |
| Aug 2, 2023 | $4.54 | $5.16 | +13.7% | $3.4B | +2.8% |
| May 3, 2023 | $2.80 | $3.97 | +41.8% | $3.0B | +5.5% |
MELI insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 15, 2026 | Melamud Marceloofficer: SVP - Chief Accounting Officer | Buy | 125 | $1604.62 |
| Jun 12, 2026 | Dubugras Henrique Vasoncelosdirector | Grant | 94 | — |
| Jun 12, 2026 | Tolda Stelleodirector | Grant | 94 | — |
| Jun 12, 2026 | Aguzin Alejandro Nicolasdirector | Grant | 94 | — |
| Jun 12, 2026 | Lawson Martin Rdirector | Grant | 94 | — |
| Jun 12, 2026 | SEGAL SUSANdirector | Grant | 94 | — |
| Jun 12, 2026 | Sanders Richard Adirector | Grant | 94 | — |
| Jun 12, 2026 | Calemzuk Emilianodirector | Grant | 94 | — |
| May 26, 2026 | Aguzin Alejandro Nicolasdirector | Buy | 95 | $1655.01 |
| May 26, 2026 | Aguzin Alejandro Nicolasdirector | Buy | 505 | $1656.10 |
| Mar 2, 2026 | Melamud Marceloofficer: SVP - Chief Accounting Officer | Buy | 57 | $1755.77 |
| Dec 15, 2025 | Dubugras Henrique Vasoncelosdirector | Sell | 845 | $2028.14 |
| Dec 12, 2025 | Calemzuk Emilianodirector | Sell | 45 | $2027.37 |
| Dec 11, 2025 | Tolda Stelleodirector | Sell | 246 | $2047.88 |
| Aug 8, 2025 | Dubugras Henrique Vasoncelosdirector | Grant | 64 | — |
Source: MELI SEC Form 4 filings, latest Jun 15, 2026. For informational purposes only — not investment advice.
See the full MELI insider & 13F page →MELI research & analysis
[MELI] MercadoLibre Thesis 2026: Mercado Pago Fintech Drives LATAM Commerce Cycle
MercadoLibre Inc. (NASDAQ: MELI) FY2025 revenue ~$22-24B (+30-37%) with diluted EPS ~$45-55 reflecting continued Mercado Pago fintech ecosystem expansion (~60M+ monthly active users; ~$220-240B aggregate Total Payment Volume) plus continued Mercado Libre marketplace GMV ~$60-65B (+25-30%) plus selected post-2024 Mercado Crédito ~$8-10B aggregate credit portfolio expansion plus selected post-2024 Mercado Ads + Mercado Envíos logistics monetization under continued co-CEO Marcos Galperin (founder; ~26-year tenure since 1999). Latin America's largest e-commerce + fintech ecosystem operating across 18 Latin American + Caribbean countries with primary markets in Brazil + Argentina + Mexico + Chile + Colombia. Founded August 1999 by Marcos Galperin in Buenos Aires Argentina (~26-year heritage); selected post-2001 NASDAQ listing IPO; selected post-2003 Mercado Pago fintech launch (initial payments processor); selected post-2010s Mercado Envíos logistics network buildout; selected post-2018 Mercado Crédito consumer credit launch; selected post-2020 Mercado Ads advertising platform launch; selected post-March 2021 ~$1.55B convertible notes financing; selected post-2024 Mercado Pago digital banking license expansion + selected continued LATAM fintech leadership. Headquartered in Montevideo Uruguay (post-2017 Argentina HQ relocation due to Argentine economic + tax policy uncertainties); ~75,000+ employees globally with ~$22-24B revenue. Two primary revenue segments: Commerce ~50% revenue (~$11-12B — Mercado Libre marketplace + Mercado Envíos logistics + Mercado Shops + selected commerce services), Fintech ~50% (~$11-12B — Mercado Pago + Mercado Crédito + Mercado Fondo + Mercado Pago digital banking + selected fintech services). Geographic breakdown: Brazil ~55% revenue (~$13B), Argentina ~20% (~$5B), Mexico ~15% (~$3-4B), Other LATAM ~10% (~$2-3B — Chile + Colombia + Peru + Ecuador + selected various). Mercado Pago fintech ecosystem leadership: ~60M+ monthly active users FY2025 (vs ~50M FY2024 + ~38M FY2023); aggregate Total Payment Volume (TPV) ~$220-240B FY2025 (+30-35% YoY); Mercado Crédito ~$8-10B aggregate credit portfolio FY2025 (~+50% YoY); Mercado Fondo ~$5-7B aggregate AUM money market; selected post-2024 Mercado Pago Brazilian + Mexican digital banking license expansion; geographic mix Brazil ~50% Mercado Pago revenue + Argentina ~25% + Mexico ~15% + Other ~10%. Marketplace + logistics + advertising flywheel: Mercado Libre marketplace GMV ~$60-65B FY2025 (+25-30% YoY); ~250M+ unique buyers; take rate ~17-18% FY2025 (vs ~16% FY2023); Mercado Envíos ~92%+ same-day + next-day delivery in Brazil + Mexico; Mercado Ads ~$1.5-2B revenue (+45-55% growth). LATAM penetration drivers: e-commerce-to-retail penetration LATAM ~12-15% (vs ~22%+ US; ~25%+ China); fintech penetration ~50-60% LATAM banked population; smartphone penetration ~85-90% LATAM; Brazilian PIX adoption ~150M+ users post-2020 BCB launch. Co-CEO Marcos Galperin (founder; ~26-year tenure since 1999); selected continued co-CEO operational + strategic dual leadership; CFO Martin de los Santos. Capital structure: selected ~$5-6B aggregate cash + investments; no dividend; no buybacks (growth investment priority); selected aggressive ~$5-7B aggregate FY2025-2027 logistics + fintech infrastructure capex; FCF margin ~5-8%; investment-grade Baa3/BBB- credit rating. FY2026 thesis: Mercado Pago fintech leadership + marketplace GMV ~+25-30% growth + Mercado Ads ~+45-55% growth + Mercado Crédito + LATAM penetration + operating margin expansion. Risks: Argentine economic + currency + tax policy, Brazilian competition (Amazon Brazil + Magazine Luiza + Americanas), fintech regulatory (BCB + Banco Central de México), Mercado Crédito asset quality (aggressive ~+50% credit portfolio growth), LATAM macro recession.
Argentine Banking Cost Cuts Shift to Cash Severance
Supervielle, Banco Macro and Telecom Argentina disclosed in August 2026 that disinflation ended peso wage-bill erosion, so cost cuts now require cash severance.
BMAEDNIRS
MercadoLibre, Inc. company profile
Overview
MercadoLibre, Inc. (NASDAQ:MELI) is Latin America's leading e-commerce and fintech company, founded in 1999 and headquartered in Montevideo, Uruguay. Often referred to as the "Amazon of Latin America," the company went public in 2007 and has since evolved from a simple online marketplace into a comprehensive digital ecosystem serving over 100 million unique buyers across 18 countries in the region. MercadoLibre operates through multiple interconnected platforms that facilitate online commerce, digital payments, logistics, advertising, and financial services, capitalizing on the significant underbanked population and low e-commerce penetration rates across Latin America.
Business
MercadoLibre operates in the rapidly growing Latin American digital commerce and financial technology sectors through several integrated business segments. The company's core offering is the Mercado Libre Marketplace, an automated e-commerce platform where businesses, merchants, and individuals can list merchandise and conduct transactions online. This marketplace functions similarly to Amazon or eBay, connecting buyers and sellers across Latin America. The company's second major segment is Mercado Pago, a comprehensive fintech platform that began as a payment facilitator for marketplace transactions but has evolved into a full-service digital banking solution. Mercado Pago enables users to send and receive payments, transfer money, invest funds, access credit products, and utilize various financial services. The platform serves both on-platform transactions within the MercadoLibre ecosystem and off-platform payments for external merchants and consumers. Mercado Envios represents the company's logistics and fulfillment arm, providing warehousing, shipping, and last-mile delivery services. This segment enables sellers to utilize third-party carriers and MercadoLibre's own logistics infrastructure, including over 7,000 fulfillment locations across the region. The logistics network is crucial for competing on delivery speed and reliability in markets where traditional shipping infrastructure may be limited. Additional business segments include Mercado Credito (credit and lending services), Mercado Ads (advertising platform for retailers and brands), Mercado Shops (online storefront solutions), and Mercado Libre Classifieds (classified listings for vehicles, real estate, and services). Based on recent financial data, the commerce segment generates approximately 60% of total revenues, while fintech contributes around 40%, though the fintech segment is growing more rapidly and represents the company's highest-margin business.
Revenue model
MercadoLibre generates revenue through multiple interconnected business models across its ecosystem. The primary revenue streams include transaction fees and commissions from marketplace sales, where the company takes a percentage of each transaction completed on its platform. For fintech services, revenue comes from payment processing fees, interest income from credit products, foreign exchange spreads, and fees from financial services like investments and insurance products. The advertising business generates revenue by charging retailers and brands to promote their products within the marketplace and across the broader ecosystem. The logistics segment earns revenue through shipping fees and fulfillment services charged to sellers. Additionally, the company generates subscription revenue from premium services like MELI+ loyalty program and various seller tools. The paying customers span multiple categories: individual consumers who purchase goods and pay for shipping; merchants and sellers who pay listing fees, commissions, and advertising costs; businesses that utilize Mercado Pago for payment processing; and borrowers who pay interest on credit products. The company's ecosystem approach creates multiple touchpoints for monetization from the same user base. Several factors influence MercadoLibre's margins positively, including the network effects of its platform ecosystem, where more buyers attract more sellers and vice versa. The company benefits from Latin America's low e-commerce penetration (approximately 15%) and large underbanked population, providing significant growth runway. Economies of scale in logistics and technology investments also improve margins over time. However, margin pressures come from intense competition with international players like Amazon and local competitors, macroeconomic volatility in Latin American currencies, regulatory changes in financial services, and the need for continuous technology and infrastructure investments. Credit risk in the lending business and the cost of customer acquisition in competitive markets also impact profitability.
Competitive moat
MercadoLibre possesses a relatively strong competitive moat built primarily on network effects and first-mover advantages in Latin America. The company's ecosystem approach creates powerful synergies where its e-commerce platform drives fintech adoption, while payment solutions facilitate more commerce transactions. This interconnected model makes it difficult for competitors to replicate the full value proposition, as users benefit from seamless integration across services. The company's logistics infrastructure represents a significant barrier to entry, with over 7,000 fulfillment locations and proprietary delivery networks that would be expensive and time-consuming for competitors to replicate. MercadoLibre's deep understanding of Latin American markets, including local regulations, consumer preferences, and operational challenges, provides advantages over international competitors attempting to enter these markets. However, the moat faces several challenges. Large international players like Amazon, Alibaba, and emerging platforms like TikTok Shop have substantial resources and proven business models that could threaten market share. The company operates in markets with relatively low switching costs for consumers, and competitors can potentially offer better prices or services to attract users. Additionally, regulatory risks in financial services and the fragmented nature of Latin American markets create vulnerabilities. The strength of MercadoLibre's moat varies by market and business segment. In established markets like Argentina and Brazil, the network effects and brand recognition provide stronger protection. The fintech business may have a deeper moat due to the complexity of financial regulations and the trust required for financial services. Overall, while MercadoLibre has built meaningful competitive advantages, the moat is not impregnable and requires continuous investment and innovation to maintain.
Risks & safety
MercadoLibre demonstrates a moderate margin of safety with mixed financial health indicators. **Liquidity and Solvency:** • Cash position of $2.6 billion provides adequate liquidity buffer • Current ratio of 1.21 indicates tight but manageable short-term liquidity • Debt-to-equity ratio of 1.57 shows moderate leverage levels • Strong operating cash flow of $7.9 billion (2024) demonstrates cash generation ability • No immediate solvency concerns given profitable operations **Valuation Metrics:** • P/E ratio of 45x appears elevated relative to traditional value metrics • EV/EBITDA of 28x suggests premium valuation • Price-to-book ratio of 20x indicates significant premium to tangible assets • Graham number calculations suggest potential overvaluation at current levels **Other Considerations:** • Strong revenue growth trajectory provides some justification for premium valuation • Expanding market opportunity in underbanked Latin America supports growth thesis • Credit portfolio growth of 75% creates potential asset quality risks • Currency exposure to volatile Latin American markets adds uncertainty
Recent development
Over the past few years, MercadoLibre has executed several strategic initiatives to strengthen its ecosystem and expand market presence. The company has significantly accelerated its fintech expansion, with Mercado Pago growing from a payment facilitator to a comprehensive digital banking platform. The credit card business has been a particular focus, with the company issuing 5.9 million new cards in 2024 and achieving 118% growth in the credit card portfolio. The logistics infrastructure has seen substantial investment, with the opening of multiple new fulfillment centers including the company's first U.S. facility in Texas to serve cross-border trade with Mexico. The integration of robotics and AI technologies across operations has improved efficiency and user experience. The company launched the MELI+ loyalty program to increase customer engagement and retention. In fintech, MercadoLibre has pursued banking licenses in key markets like Mexico and expanded its product offerings to include investment products, insurance, and asset management services. The rebranding of Mercado Pago with a distinct yellow color scheme represents efforts to establish it as a standalone financial services brand. The company has also been cautiously expanding its credit portfolio while tightening risk management practices, particularly in Brazil where it reduced micro-card issuance and moved upmarket to lower-risk customers. Technology investments have been substantial, with the engineering team growing to over 18,000 people and the implementation of AI-based features across the platform. The advertising business has seen significant development with new product features and expanded inventory beyond the core marketplace.
MELI company profile · for informational purposes only — not investment advice.
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