MELI · NASDAQ · Internet Retail
Mercado Libre, Inc. is Latin America’s leading e-commerce and fintech platform, operating a digital ecosystem that connects consumers, merchants, brands, and financial services users across the region.
Current price
$1,839.11
▼ −$36.93 (1.97%) today
ET&A View
Last reviewed 15 September 2026
ET&A likes the company but would prefer investors to build exposure gradually.
MercadoLibre is one of the highest-quality structural growth businesses in emerging markets, combining dominant e-commerce positions with payments, credit, logistics and advertising businesses that reinforce one another through…
Business Health
Is the business financially healthy?
Yes — healthy
Revenue, earnings and cash generation stand out. Watch margins.
Overall
Revenue
$35.2bn · ↑ +39% last year
Earnings
$1.9bn · ↑ +5% last year
Margins
Keeps 7% of sales as operating profit
Cash generation
$10.8bn spare cash a year · 31% of sales
Balance sheet
Debt ≈ 1.9 years of earnings
Investor View
Open a section for the detail behind the quick view.
MercadoLibre is one of the highest-quality structural growth businesses in emerging markets, combining dominant e-commerce positions with payments, credit, logistics and advertising businesses that reinforce one another…
The complete ET&A view
See our full reasoning, what could drive the shares higher or go wrong, our Fair Value and Preferred Entry, and how our view has changed.
Reported annual results, newest first · Market data. “Growth” is the change in sales on the year before.
| Year | Revenue | Growth | Operating margin | Net income | EPS | Free cash flow |
|---|---|---|---|---|---|---|
| FY2025 | $28.9bn | +39.1% | 11.1% | $2.0bn | $39.40 | $10.8bn |
| FY2024 | $20.8bn | +37.5% | 12.7% | $1.9bn | $37.69 | $7.1bn |
| FY2023 | $15.1bn | +40.1% | 14.6% | $987m | $19.46 | $4.6bn |
| FY2022 | $10.8bn | — | 9.9% | $482m | $9.53 | $2.5bn |
Long-term growth investors
Also suits: Adventurous investors comfortable with big swings
ET&A sees significant upside from the current price with an attractive risk/reward profile.
ET&A sees significant upside from the current price with an attractive risk/reward profile.
ET&A sees significant upside from the current price with an attractive risk/reward profile.
ET&A sees significant upside from the current price with an attractive risk/reward profile.
Compare Mercado Libre Inc with any company → The model’s own peer calculations are in the Research View.
Mercado Libre, Inc. is Latin America’s leading e-commerce and fintech platform, operating a digital ecosystem that connects consumers, merchants, brands, and financial services users across the region. The company is best known for its online marketplace, Mercado Libre, alongside Mercado Pago, its fintech and payments platform, Mercado Envios, its logistics network, Mercado Ads, and other services that support online selling, payments, credit, advertising, and digital commerce.
Mercado Libre’s strength comes from the depth of its ecosystem and its position in markets where e-commerce, digital payments, and financial services still have significant room to grow. Its marketplace drives consumer and merchant activity, Mercado Pago expands its role in payments and financial services, and its logistics network improves delivery speed and reliability. This gives Mercado Libre exposure to long-term growth in Latin American online retail, fintech adoption, digital advertising, credit, and modern commerce infrastructure.
Internet Retail · Argentina
For detailed analysis. Each section opens on its own.
As of 14 October 2026
Standard ways of comparing the share price with the company’s earnings, sales and cash. Tap the “i” for what each one means.
| Measure | Today | Source |
|---|---|---|
| P/E | Members | |
| Forward P/E | Members | |
| EV/EBITDA | Members | |
| Price/Sales | Members | |
| FCF Yield | Members |
Valuation ratios are part of ET&A membership.
Other published measures
Use the 5Y and Max ranges on the price chart at the top of the page.
Forecasts are market consensus or calculated from forward EPS — not ET&A estimates, and they can be wrong.
Powered by the ET&A Valuation FrameworkHow Fair Value & Preferred Entry work →
Read the full ET&A methodology →The ET&A View combines our assessment of the business with where today’s price sits against our Preferred Entry and Fair Value. It is a considered judgement, not a mechanical score.
ET&A Score: ET&A's overall assessment of business quality, valuation, growth and risk, out of 10. It weighs business quality, financial strength, growth, valuation, risk, future prospects.
Powered by the ET&A Company Assessment FrameworkSee the full framework →
The automatic, rules-based scores that feed our research. The ET&A Score blends these with our own analysis of the business and its value. How the framework works →
Thin margins · Sound · Soft
Context — not part of the score
Valuation and share-price swings describe the shares, not the company, so they are judged in the ET&A Score and View instead.
Based on the factors that could be measured (45% of the model).
Each area is scored from 0 to 10 on ET&A’s methodology scales — the same ones our research uses — then given a word: Excellent from 8.5, Strong from 7, Good from 5.5, Average from 4.5, Below Average from 3, Weak below 3. The overall answer is the average of the areas we could rate (at least three); the dividend isn’t part of it.
| Area | Based on | Score | Rating |
|---|---|---|---|
| Revenue |
Rated on 3-year average revenue growth, on ET&A's growth scale. | 10.0 / 10 | Excellent |
| Earnings |
Rated on 3-year average earnings growth, on ET&A's growth scale. | 10.0 / 10 | Excellent |
| Margins |
The average of operating and net margin, each scored on ET&A's margin scales. A negative margin scores 1 (Weak). | 4.3 / 10 | Below Average |
| Cash generation |
Free cash flow as a share of sales, on ET&A's cash-generation scale. | 9.5 / 10 | Excellent |
| Balance sheet |
Net debt ÷ EBITDA — roughly how many years of operating earnings would repay the debt — on ET&A's leverage scale. | 6.6 / 10 | Good |
| Overall | Average of the 5 rated areas | 8.1 / 10 | Strong |
Where each band starts on the scales above. They are fixed and identical for every company we cover; they come straight from ET&A’s methodology, so a company is judged the same way here as in our research.
| Measure | Excellent | Strong | Good | Average | Below Average | Weak |
|---|---|---|---|---|---|---|
| GrowthStructural Growth (Fundamental Conviction) | 18%+ | 10%+ | 5.0%+ | 1.7%+ | −2.5%+ | below −2.5% |
| Operating marginCompetitive Position (Fundamental Conviction) | 29%+ | 20%+ | 13%+ | 7.5%+ | 0%+ | below 0% (loss) |
| Net marginEarnings Durability (Fundamental Conviction) | 23%+ | 15%+ | 9.8%+ | 6.0%+ | 0%+ | below 0% (loss) |
| Free-cash-flow marginCapital Allocation (Fundamental Conviction) | 15%+ | 8.5%+ | 3.8%+ | 1.3%+ | −2.5%+ | below −2.5% |
| Net debt ÷ EBITDAStructural Risk (Fundamental Conviction) | net cash | ≤ 1.5× | ≤ 2.8× | ≤ 3.6× | ≤ 5.0× | above 5.0× |
| Return on equity (banks & insurers)Bank and insurer quality | 16%+ | 12%+ | 9.0%+ | 6.7%+ | 2.7%+ | below 2.7% |
| Equity ÷ assetsBank capital | 7.5%+ | 6.0%+ | 4.7%+ | 4.0%+ | any | — |
| Dividend yieldIncome factor (ET&A Quant Score) | 5.8%+ | 4.0%+ | 2.5%+ | 1.8%+ | 1.0%+ | below 1.0% |
Band floors: Excellent 8.5 · Strong 7 · Good 5.5 · Average 4.5 · Below Average 3 (scores out of 10). Utilities and property companies’ structural debt is scored 6.5, as in ET&A’s risk model.
No research notes have been published for Mercado Libre Inc yet.
Need deeper analysis on Mercado Libre Inc? ET&A Professional includes full company notes, valuations and models — or commission bespoke research.
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