Mercado Libre (MELI) financials
Mercado Libre revenue and earnings by year
Mercado Libre's revenue was $28.9 billion in the fiscal year to December 31, 2025, up 39.1% from the year before. Net income was $2.00 billion, 6.9% of revenue. Since the fiscal year to December 31, 2016, revenue has grown 48.1% a year on average.
Fiscal years, each labelled by the calendar year it ended in.
Income statement, the last 10 fiscal years
| Fiscal year to | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 28.9 | 20.8 | 15.1 | 10.8 | 7.1 | 4.0 | 2.3 | 1.4 | 1.2 | 0.8 |
| Revenue growth | 39.1% | 37.5% | 40.1% | 52.5% | 77.9% | 73.1% | 59.5% | 18.3% | 44.1% | — |
| Gross profit | 12.9 | 9.6 | 7.6 | 5.2 | 3.0 | 1.7 | 1.1 | 0.7 | 0.7 | 0.5 |
| Gross margin | 44.5% | 46.1% | 50.2% | 48.2% | 42.5% | 43.0% | 48.0% | 48.4% | 59.2% | 63.6% |
| Operating income | 3.2 | 2.6 | 2.2 | 1.1 | 0.4 | 0.1 | -0.2 | -0.1 | 0.1 | 0.2 |
| Operating margin | 11.1% | 12.7% | 14.6% | 9.9% | 6.2% | 3.2% | -6.7% | -4.8% | 4.6% | 21.4% |
| Net income | 2.0 | 1.9 | 1.0 | 0.5 | 0.1 | -0.0 | -0.2 | -0.0 | 0.0 | 0.1 |
| Net margin | 6.9% | 9.2% | 6.5% | 4.5% | 1.2% | -0.0% | -7.5% | -2.5% | 1.1% | 16.1% |
| Diluted EPS | $39.40 | $37.69 | $19.54 | $9.54 | $1.69 | — | -$3.63 | -$0.82 | $0.32 | $3.08 |
| Free cash flow | 10.8 | 7.1 | 4.6 | 2.5 | 0.4 | 0.9 | 0.3 | 0.1 | 0.2 | 0.1 |
Diluted EPS is stated in today's shares (adjusted for every split since). Quarterly statements and the income statement as a flow chart are in the app: open MELI in Markets.
How Mercado Libre makes money
Revenue by segment in the quarter to June 30, 2026, as the company reports it.
| Segment | Revenue | Share |
|---|---|---|
| Brazil | $5.53B | 54.4% |
| Mexico | $2.34B | 23.0% |
| Argentina | $1.84B | 18.1% |
| Other Countries | $463M | 4.6% |
See also: MELI valuation and P/E history · MELI returns
No forecast, no recommendation. This page describes Mercado Libre from published data; it is not advice to buy, sell or hold any security.
Figures as of the close on Oct 30, 2026 unless a row says otherwise. Prices are split adjusted; returns include dividends reinvested. Data may be delayed. See the disclaimer and how TrendArc works.