undamentalytics Newsletter
Sign in

Mercadolibre Inc key statistics and ratios

In fiscal 2025, Mercadolibre Inc had return on equity of 36.0%, an operating margin of 11.1%, debt equal to 139.8% of equity and a current ratio of 1.17. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Gross margin63.6%59.2%48.4%48.0%43.0%42.5%48.2%50.2%46.1%44.5%42.7%
Operating margin21.4%4.6%−4.8%−6.7%3.2%6.2%9.9%14.6%12.7%11.1%8.3%
Net margin16.1%1.1%−2.5%−7.5%−0.0%1.2%4.5%6.5%9.2%6.9%5.3%
Free-cash-flow margin14.4%17.6%9.6%13.7%23.5%5.5%23.1%30.7%34.0%37.3%35.3%
Return on equity31.8%3.7%−11.0%−14.8%−0.1%5.2%28.7%40.3%51.5%36.0%25.6%
Return on assets10.0%0.9%−1.9%−4.9%−0.0%1.0%4.0%6.3%8.9%5.9%4.0%
Asset turnover0.620.800.740.650.700.850.900.960.970.850.75
Current ratio1.511.331.302.161.471.401.281.271.211.171.12
Debt to equity—6.0%218.3%41.2%85.4%234.6%266.7%147.6%133.9%139.8%139.3%
Interest cover (operating income ÷ interest)10.1x3.0x—————————
Effective tax rate26.4%74.5%———61.8%38.2%36.6%21.4%29.7%28.5%
R&D as % of revenue11.7%10.5%10.2%9.7%8.9%8.3%10.2%12.1%9.3%7.9%7.3%
Capital spending as % of revenue8.1%4.5%6.5%6.0%6.2%8.1%4.2%3.4%4.1%4.6%4.3%
Free cash flow ÷ net income89.3%>999%———472.3%515.8%469.2%369.3%539.5%666.1%
Dividends ÷ net income17.9%192.3%—————————
Dividends and buybacks ÷ free cash flow20.1%12.4%4.8%0.2%5.8%124.0%6.0%7.7%0.0%0.0%—

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

4 of 6 checks passed · June 30, 2026
What it owns · $51.4bn
Short-term assets $40.8bnLonger-term assets $10.6bn
What it owes, and who funded it · $51.4bn
Short-term liabilities $36.4bnLonger-term liabilities $7.2bnShareholders' equity $7.8bn
  • Short-term assets cover short-term liabilities $40.8bn of assets due within a year against $36.4bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $40.8bn short-term assets against $7.2bn of longer-dated liabilities.
  • More cash than debt $3.6bn of cash against $10.6bn of debt.
  • Debt below 40% of shareholders' equity Debt is 136% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 230% to 136% over five years.
  • A year's operating cash flow covers at least 20% of debt $13.9bn of operating cash flow against $10.6bn of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Mercadolibre Inc's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

54 /100

Moderate moat

How hard Mercadolibre's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 20 / 20

    Cash operating profit has been a median 21.5% of total assets over 10 years.

  • Pricing power 13 / 20

    Gross margin has been a median 47.8%, moving by 5.6 percentage points (standard deviation) across 10 years.

  • Durability 1 / 20

    Operating margin has been a median 7.4%; its worst year was -7.2%.

  • Cash conversion 20 / 20

    Free cash flow was positive in 10 of 10 years, at a median 27.2% of revenue.

  • Discipline 15 / 20

    The diluted share count rose 1.8% over five years; stock-based pay has been a median 2.5% of revenue.

AI disruption exposure: High. In this industry, the core product is information work that AI systems increasingly perform. The score above includes a 15-point deduction for that exposure (69 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

Head to head: CMI vs MELIMELI vs PWRLUV vs MELI

More: Industrials sector, rankings of US companies

Figures from Mercadolibre Inc's SEC filings (10-K and 10-Q), retrieved October 31, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Mercadolibre Inc.