ValueScreener

ValueScreener company report

MercadoLibre, Inc. (MELI)

NASDAQ / Consumer Cyclical / Specialty Retail

Share price

1856.98 USD Market dataClose of Oct 15, 2026

Market capitalisation

94.14B USD Market dataClose of Oct 15, 2026
Market data
Oct 15, 2026
Filed accounts
FY2025, filed Feb 25, 2026
Ratios computed
Oct 15, 2026
Filed years
17, FY2008 to FY2025
Four kinds of sourceSEC filingCompany statementMarket dataComputedWhat each means
SEC filingFiled with the SEC
Read from a statement the company filed with the SEC, with the form, fiscal year, filing date and accession beside it.
Company statementCompany statement
What the company says about itself in a filing: an 8-K item, the auditor, its own segment names.
Market dataMarket data
Prices, market value and what analysts publish, with the date they are as of.
ComputedComputed by ValueScreener
Worked out by us from the other three, with the inputs and the formula one press away. A score is a research output, not a rating or a recommendation.
Reading

1 of 10

Overview

What the business is, what it costs, and how it reads on four questions.

Market dataSEC filingComputed

Four questions, at a glance

Quality

Return on invested capital, after tax

15.4% Computed

From the FY2025 filing

Read quality

Valuation

Price to earnings

47.13x Computed

FY2025 accounts, priced at the latest close

Read valuation

Cash generation

Free cash flow yield

11.4% Computed

FY2025 accounts, priced at the latest close

Read cash generation

Revenue and net income, as filed

FY2016 Revenue: 844.4M USDFY2016 Net income: 136.4M USDFY2017 Revenue: 1.22B USDFY2017 Net income: 13.8M USDFY2018 Revenue: 1.44B USDFY2018 Net income: -36.6M USDFY2019 Revenue: 2.30B USDFY2019 Net income: -172.0M USDFY2020 Revenue: 3.97B USDFY2020 Net income: -1.0M USDFY2021 Revenue: 7.07B USDFY2021 Net income: 83.0M USDFY2022 Revenue: 10.78B USDFY2022 Net income: 482.0M USDFY2023 Revenue: 15.11B USDFY2023 Net income: 987.0M USDFY2024 Revenue: 20.78B USDFY2024 Net income: 1.91B USDFY2025 Revenue: 28.89B USDFY2025 Net income: 2.00B USD
Revenue Net income10 filed fiscal years, from the annual reports; the table in Filings names each document.
Named tests met
2 of 30 Which tests
The business, and the score behind its five axes

The reading, in brief

Is it cheap

Price to earnings is 47.13x at the close of 2026-10-15 on FY2025 figures; the lines are 15.00x (Graham's defensive ceiling) and, by market convention, 10.00x, 25.00x and 40.00x, and this sits above the highest.

Today, against the Specialty Retail industry (44 companies), 47.13x sits at the 73rd percentile; the middle half of that group runs from 15.54x to 47.91x.

Is it good

Return on invested capital was 15.4% in FY2025, in the band labelled "Above the cost of capital" (12.0% to 20.0%), on lines anchored on Damodaran's cost-of-capital data.

Today, against the Consumer Cyclical sector (222 companies), 15.4% sits at the 77th percentile; the middle half of that group runs from 3.6% to 14.8%.

Is it safe

Net debt to EBITDA was 1.95x in FY2025, in the band labelled "Moderate" (1.00x to 2.50x), on lines set by credit-analyst convention.

Year by year against peers
Whether MercadoLibre, Inc.'s return on invested capital stayed above the median of the Consumer Cyclical sector, year by year. (FY2022 to FY2025, 4 fiscal years of MercadoLibre, Inc. with a comparable figure)
The direction
Which way MercadoLibre, Inc.'s return on equity has moved, and how steadily. (FY2016 to FY2025, 10 filed years of MercadoLibre, Inc.)
What could explain it
What in MercadoLibre, Inc.'s filed statements could explain the movements. (8 readings drawn from the statement lines MercadoLibre, Inc. filed)
What to check next
What to check next on MercadoLibre, Inc., and where in its filings. (5 questions for MercadoLibre, Inc.)
In one paragraph
One paragraph on MercadoLibre, Inc.'s returns, cash, balance sheet and price. (14 of sixteen figures read for MercadoLibre, Inc.)

These are MELI’s filed figures. The research desk says what they mean, against peers and its own years, with what to check next.

Research MELIPart of Serious. New accounts start with 30 days of Professional, free, no card.

2 of 10

What changed

The newest filing, what it moved, and when the next one is due.

SEC filingCompany statement

The newest accounts on file are the FY2025 annual report: 10-K, filed Feb 25, 2026, accession 0001099590-26-000006.

3 of 10

Quality

The returns the business earns on its capital, and the margins behind them.

SEC filingComputed

MercadoLibre, Inc: returns on capital and margins, each with its source
FigureValue, source and document
Return on invested capital, after tax15.4% ComputedFY2025 10-K, filed Feb 25, 2026, 0001099590-26-000006
Return on equity29.6% ComputedFY2025 10-K, filed Feb 25, 2026, 0001099590-26-000006
Return on capital employed, pre-tax22.8% ComputedFY2025 10-K, filed Feb 25, 2026, 0001099590-26-000006
Return on assets4.7% ComputedFY2025 10-K, filed Feb 25, 2026, 0001099590-26-000006
Gross margin44.5% ComputedFY2025 10-K, filed Feb 25, 2026, 0001099590-26-000006
Operating margin11.1% ComputedFY2025 10-K, filed Feb 25, 2026, 0001099590-26-000006
Net margin6.9% ComputedFY2025 10-K, filed Feb 25, 2026, 0001099590-26-000006
MELI 6.9%
SE 6.9%JD 1.8%EBAY 18.3%WSM 13.9%ULTA 9.3%
1.8%18.3%
Net margin: MELI against the 5 companies named under Valuation context, each as filed for its own latest year. Placement only: no average is drawn.

4 of 10

Financial strength

What it owes against what it owns, and whether it can meet what falls due.

SEC filingComputedCompany statement

MercadoLibre, Inc: leverage, liquidity and distress, each with its source
FigureValue, source and document
Debt to equity1.71 ComputedFY2025 10-K, filed Feb 25, 2026, 0001099590-26-000006
Current ratio1.17 ComputedFY2025 10-K, filed Feb 25, 2026, 0001099590-26-000006
Quick ratio1.15 ComputedFY2025 10-K, filed Feb 25, 2026, 0001099590-26-000006
Interest coverage
Why n/a

No interest expense is filed for this year, so coverage is not computed.

n/a ComputedFY2025 10-K, filed Feb 25, 2026, 0001099590-26-000006
Altman Z-score2.83 ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 25, 2026, 0001099590-26-000006
Net debt5.22B ComputedFY2025 10-K, filed Feb 25, 2026, 0001099590-26-000006
Total assets 42.67BTotal liabilities 35.92BShareholders' equity 6.75BOwnsOwes, and equity
Total assets Total liabilities Shareholders’ equity
The balance sheet, line by line

Financial health

What MercadoLibre, Inc owned and owed at the end of fiscal 2025, from the balance sheet it filed (10-K, filed Feb 25, 2026, 0001099590-26-000006).

MercadoLibre, Inc: balance sheet position
Total assets42.67B FiledFY2025 10-K, filed Feb 25, 2026
Total liabilities35.92B FiledFY2025 10-K, filed Feb 25, 2026
Shareholders' equity6.75B FiledFY2025 10-K, filed Feb 25, 2026
Cash6.30B FiledFY2025 10-K, filed Feb 25, 2026
Total debt11.52B FiledFY2025 10-K, filed Feb 25, 2026
Net debt5.22B
Current ratio1.17
Debt to equity1.71
  • Interest cover: FY2025: No interest expense is filed for this year, so coverage is not computed.

Read from the filed balance sheet for each year, with the income statement of the same year supplying operating profit where a ratio needs it. Nothing here is a view on whether this company is sound.

5 of 10

Valuation context

What the market charges for it, against its own record and companies like it.

Market dataSEC filingComputed

MercadoLibre, Inc: what the market charges, each with its source
FigureValue, source and document
Price to earnings47.13x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 25, 2026, 0001099590-26-000006
P/E on trailing twelve months50.50x ComputedClose of Oct 15, 2026 · Trailing four quarters, each as known on the day; the quarterly filings are listed under Filings
Price to book13.95x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 25, 2026, 0001099590-26-000006
Price to sales3.26x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 25, 2026, 0001099590-26-000006
Enterprise value to EBIT31.86x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 25, 2026, 0001099590-26-000006
Enterprise value to EBITDA25.38x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 25, 2026, 0001099590-26-000006
Price to earnings over growth
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 25, 2026, 0001099590-26-000006
Diluted earnings per share39.40 USD FiledFY2025 10-K, filed Feb 25, 2026, 0001099590-26-000006
Graham number343.51 USD ComputedFY2025 10-K, filed Feb 25, 2026, 0001099590-26-000006

We publish no fair value or price target of our own. Value MELI on your own assumptions in the DCF workbench, starting from the filed figures.

Its own record, and companies like it

Valuation

What the market charges for MercadoLibre, Inc today, and the multiples it has carried. No value of ours: the figures are the filings’ and the market’s.

MercadoLibre, Inc: valuation
Share price1856.98 USD
Market capitalisation94.14B USD
Enterprise value to EBITDA25.38x
Graham number343.51 USD
Diluted earnings per share, FY202539.40 USD

Price to earnings on trailing twelve months, a different basis from the fiscal-year P/E above, since Oct 3, 2016: low 40.60x, median 81.51x, high 4313.12x, latest 50.50x. 1,703 trading days with a meaningful ratio, 820 more on a loss and left out. Each close over the trailing twelve months of earnings as known that day: a quarter counts from the day it was filed.

Companies like MercadoLibre, Inc

  1. Sea Limited (SE)Market cap 59.69B USD
  2. JD.com, Inc. (JD)Market cap 36.99B USD
  3. eBay Inc. (EBAY)Market cap 54.69B USD
  4. Williams-Sonoma, Inc. (WSM)Market cap 29.68B USD
  5. Ulta Beauty, Inc. (ULTA)Market cap 26.05B USD

Same industry (Specialty Retail) and size band (Large, 10B to 200B), nearest in market value, net margin and current ratio. Each of those counts equally, by how many of the companies considered sit between the two on it. Closest first: the order is likeness and nothing else.

6 of 10

Cash generation

Whether profit arrives as cash, and what is paid back to shareholders.

SEC filingComputed

MercadoLibre, Inc: cash generation and what is paid out, each with its source
FigureValue, source and document
Free cash flow yield11.4% ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 25, 2026, 0001099590-26-000006
Free cash flow10.77B USD ComputedFY2025 10-K, filed Feb 25, 2026, 0001099590-26-000006
Free cash flow margin37.3% ComputedFY2025 10-K, filed Feb 25, 2026, 0001099590-26-000006
Dividend yield
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 25, 2026, 0001099590-26-000006
Payout ratio
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedFY2025 10-K, filed Feb 25, 2026, 0001099590-26-000006
FY2016 Free cash flow: 121.7M USDFY2016 Net income: 136.4M USDFY2017 Free cash flow: 213.9M USDFY2017 Net income: 13.8M USDFY2018 Free cash flow: 137.8M USDFY2018 Net income: -36.6M USDFY2019 Free cash flow: 314.3M USDFY2019 Net income: -172.0M USDFY2020 Free cash flow: 935.0M USDFY2020 Net income: -1.0M USDFY2021 Free cash flow: 392.0M USDFY2021 Net income: 83.0M USDFY2022 Free cash flow: 2.49B USDFY2022 Net income: 482.0M USDFY2023 Free cash flow: 4.63B USDFY2023 Net income: 987.0M USDFY2024 Free cash flow: 7.06B USDFY2024 Net income: 1.91B USDFY2025 Free cash flow: 10.77B USDFY2025 Net income: 2.00B USD
Free cash flow Net incomeProfit that arrives as cash stands level with net income; a gap year after year is worth reading about.

7 of 10

Filings

Every figure, the year it is for and the document it was read from.

SEC filingMarket data

The filed figures

Computed from the accounts this company filed with the SEC and, in a ratio with a price in it, the last close, dated on this page. Every filed figure below carries the fiscal year and the filing date its accounts were read from, and every blank carries the reason it is blank. Nothing here is a view on this company.

MercadoLibre, Inc.: the eight ratios, with the fiscal year and filing date behind each.
FigureValueYearAs of
47.13xFY2025Oct 15, 2026
13.95xFY2025Oct 15, 2026
31.86xFY2025Oct 15, 2026
11.4%FY2025Oct 15, 2026
15.4%FY2025Feb 25, 2026
n/aFY2025Oct 15, 2026
n/a The filed cash flow statement reports no dividend paid at all. That is not the same as a filed zero, and we will not read it as one.
1.71FY2025Feb 25, 2026
1.17FY2025Feb 25, 2026
3.26xFY2025Oct 15, 2026
n/aFY2025Oct 15, 2026
n/a This figure compares a year against the one before it, and we hold one filed year for this company.
2.83FY2025Oct 15, 2026
-2.04FY2025Feb 25, 2026
5/9FY2025Feb 25, 2026

The figures are computed from the accounts for fiscal 2025, the newest full year on file. 17 filed fiscal years on record, FY2008 to FY2025, from SEC EDGAR. Prices as of Oct 15, 2026. Ratios recomputed Oct 15, 2026. Two facts, because a recompute is not a fresh quote.

The year and the filing date name the statement each figure’s accounts are read from, and they stand even where the figure itself could not be computed: the line beneath a blank says what that statement did not carry. A figure’s name opens its formula and the filings behind it; a statement that names no SEC filing has no filing date, and reads n/a.

Ten years of filed figures, year by year

Ten years of filed figures

10 filed fiscal years, FY2016 to FY2025, read from the annual reports MercadoLibre, Inc filed with the SEC. Each year names its filing. Amounts in USD, as filed.

MercadoLibre, Inc: revenue, earnings, free cash flow and returns, by fiscal year, with the filing each year was read from
YearRevenueOperating incomeNet incomeEPS, dilutedFree cash flowOperating marginReturn on equityFiling
FY202528.89B3.20B2.00B39.4010.77B11.1%29.6%10-K, Feb 25, 20260001099590-26-000006
FY202420.78B2.63B1.91B37.697.06B12.7%43.9%10-K, Feb 21, 20250001099590-25-000007
FY202315.11B2.21B987.0M19.464.63B14.6%32.1%10-K, Feb 23, 20240001099590-24-000008
FY202210.78B1.07B482.0M9.532.49B9.9%26.4%10-K, Feb 24, 20230001099590-23-000007
FY20217.07B441.0M83.0M1.67392.0M6.2%5.4%10-K, Feb 23, 20220001562762-22-000049
FY20203.97B128.0M-1.0M-0.08935.0M3.2%-0.1%10-K, Mar 1, 20210001562762-21-000079
FY20192.30B-153.2M-172.0M-3.71314.3M-6.7%-8.7%10-K, Feb 14, 20200001562762-20-000055
FY20181.44B-69.5M-36.6M-0.82137.8M-4.8%-10.9%10-K, Feb 28, 20190001562762-19-000047
FY20171.22B56.3M13.8M0.31213.9M4.6%4.2%10-K, Feb 23, 20180001562762-18-000040
FY2016844.4M181.1M136.4M3.09121.7M21.4%31.8%10-K, Feb 24, 20170001562762-17-000024
  • Revenue, compound annual growth FY2016 to FY2025: 48.1%
  • Earnings, compound annual growth FY2016 to FY2025: 34.7%
  • Earnings per share, compound annual growth FY2016 to FY2025: 32.7%
  • Free cash flow, compound annual growth FY2016 to FY2025: 64.6%

Every figure in this section is a line of a filed annual statement or a ratio of two of them. Nothing here is estimated or smoothed. Earnings per share filed before a share split are put on today's share count, and say so. Nothing here is a verdict on the company.

8 of 10

Risks and guardrails

The accounting screens, the published tests, and the lines you can set to be told.

ComputedCompany statement

MercadoLibre, Inc: accounting screens and published tests, each with its source
FigureValue, source and document
Beneish M-score-2.04 ComputedFY2025 10-K, filed Feb 25, 2026, 0001099590-26-000006
Piotroski F-score5/9 ComputedFY2025 10-K, filed Feb 25, 2026, 0001099590-26-000006
Named tests met2 of 30 Computed
Beta0.89 ComputedClose of Oct 15, 2026

The named tests

Of 30 tests value investors published: 2 met, 26 not met, 2 we could not complete. Counts, never a score: a single figure would have to decide that meeting one investor’s criteria and meeting another’s are worth the same.

Which tests, by name(all 30)
Meets
ROIC at or above WACC; Cash-flow yield and ROIC
Does not
Defensive investor (Benjamin Graham); Deep value; Large cap, low P/E; Earnings yield and ROIC (Joel Greenblatt); High F-score, low P/B (Joseph Piotroski); Three forensic scores; Low PEG, low debt (Peter Lynch); High returns and growth; Gross margin, turnover (Robert Novy-Marx); EV/EBITDA and coverage; High yield, low payout; Low beta, profitable; Near the 52-week low; Z-score and coverage (Edward Altman); Two thirds of NCAV (Benjamin Graham); P/E times P/B (Benjamin Graham); High returns, low debt; Owner earnings yield; High return on tangibles; Low P/S, rising earnings (James O'Shaughnessy); Book or below, low debt (Walter Schloss); Tangible book or below; Clean books, high ROIC; Cheapest quarter on P/E (David Dreman); Cheapest quarter on P/B (David Dreman); Low P/E, growth, yield (John Neff)
Not measured
Dividends and buybacks; Cash-covered dividend. A test with a figure we could not read is incomplete, never met and never failed.
Figures we could not read(8)
  • PEG Ratio: We do not hold this figure for this company, so there is nothing to show.
  • Eps Growth 5Y: We do not hold this figure for this company, so there is nothing to show.
  • Interest Coverage: No interest expense is filed for this year, so coverage is not computed.
  • Dividend Yield: We do not hold this figure for this company, so there is nothing to show.
  • Payout Ratio: We do not hold this figure for this company, so there is nothing to show.
  • Share Count Change Yoy: The stored figure is a zero that can stand for data we do not hold, so this test is not measured.
  • Dividend Coverage Ratio: We do not hold this figure for this company, so there is nothing to show.
  • Dividend Streak: We do not hold this figure for this company, so there is nothing to show.

9 of 10

Declared positions

Whether anybody here owns this company.

Positions declared by the founder: no holding in any company shown here, as of October 3, 2026.

10 of 10

Next step

What to do with what you have read.

A thesis is your reason for owning it, in your words, with the figures that must stay true. Checking those figures every night against the newest filed accounts, and telling you once when one breaks, is what the subscription adds.

More on this company

What this cannot tell you

  • 8 figures could not be read on this company, among them PEG Ratio, Eps Growth 5Y, Interest Coverage. Each blank in the table above names the rest, with its reason. 2 named tests come back incomplete because of them, which is neither met nor missed.

And the one that is true of all of it: This is what the numbers say today. It cannot tell you the day one of them stops being true. Nothing here can, because the reasons are not written down.

Running this once is arithmetic on public documents and you are welcome to it. Writing down why you own each company, in your own words and with the numbers that have to stay true for it to hold, and then having those numbers re-checked every night against the newest filed accounts, and against the latest close where a rule watches a price, is Professional, the plan a new account starts on for 30 days, one trial per person. It writes to you the day one breaks, and stays quiet when nothing does. The check runs every night at 23:30 UTC. A filing is picked up the night after it is published.

No card. 30 free days, and nothing is charged unless you choose a plan.

Analyze your own portfolio

ValueScreener · valuescreener.ai · Computed from accounts filed with the SEC by this company, read from EDGAR, and from dated closing prices. On this page a filed figure opens into its formula, its inputs and the statement, fiscal year and filing date it was read from, and a price into the day of its close. A figure that cannot show that trail says so.

A computation on accounts filed with the SEC, not a recommendation and not advice. Past filings do not indicate future results. Risk disclaimer.

Once a week, what changed in the filings of US-listed companies, why it can matter to a thesis, and what deserves a closer review. Grounded in filings, not market noise.

Site map
  • Android app coming soon
  • iPhone app coming soon
ValueScreener

Discover companies, research each one to its filings, track what matters, and take your work into your own spreadsheet.

ValueScreener is a trading name of Oliva Real Estate Technologies LLC, a Delaware limited liability company. Legal notices: legal@valuescreener.ai. © 2026 Oliva Real Estate Technologies LLC. All rights reserved.

Risk disclaimer. This service is provided for research and education only. Nothing on it is investment advice, a recommendation, or an offer to buy or sell any security. Capital is at risk, and past performance does not indicate future results. Figures come from filed accounts and may be incomplete, delayed or later restated, so verify a number against the filing before you act on it.