MercadoLibre
What matters nowUpdated 6 h ago
- Days after starting a prescription-medicine sales test in São Paulo on Sep 25, Anvisa sent Mercado Livre a formal request for information on its drugstore activity on Sep 29, with three business days to reply 1 2. The agency said current rules do not allow marketplaces to intermediate sales of health-regulated medicines, and Mercado Livre said it complies with applicable rules.
- Product news came in quick succession: on Sep 24 MercadoLibre began testing one-hour Envio Agora delivery in four to five São Paulo neighborhoods and said it will open 20 new large distribution centers in 2026, bringing its Brazil total to 72 3. On Oct 8 Mercado Pago launched Dinero Blindado, which hides balances when a phone leaves trusted places 4.
- MELI's pooled 24/7 venue price was 1,894.10 on Oct 13, down 0.41% from the previous close of 1,901.89. On Oct 5 the stock rose 7.73% (z-score 4.08), the same day Brazil's Bovespa closed at a record after the first-round presidential vote 5.
- For the period to June 30, 2026, revenue over the last twelve months reached $35.2 billion, up 46.0% year on year, but the operating margin is 8.3%, the net margin 5.3% and EPS fell 9.2% (TTM EPS 36.77). Mercado Pago's total payment volume reached $101 billion in Q2 2026, up 56%, and its credit portfolio passed $16 billion, up 75%.
- At a $96.0 billion market cap the stock trades on 51.5 times earnings, 2.7 times sales and 26.5 times EV/EBITDA, with a 12.9% free-cash-flow yield and $7.0 billion of net debt. Two insiders bought 724.64 shares worth $1.19 million in the last 180 days and none sold. On Sep 14 the company closed a $1 billion offering of 5.85% notes due 2036 6.
- Next: the monthly options expiry is on Oct 16 and Q3 2026 results are expected on Oct 29, not yet confirmed. Brazil's presidential runoff is on Oct 25 5. US CPI for September is due Oct 14, and Polymarket odds give 81.5% to no change in Fed rates after the October meeting and 17.5% to a 25 bp hike.
ND Mais · Sep 25
Olhar Digital · Sep 29
Terra · Sep 24
La Nación · Oct 8
Rio Times · Oct 5
SEC Form 8-K (MercadoLibre), filed September 14, 2026 · Sep 14
MercadoLibre runs the largest online marketplace in Latin America and Mercado Pago, a digital wallet and payments business that now also lends money. Most revenue comes from Brazil, Mexico and Argentina. In fiscal 2025 Commerce and Fintech were roughly even in revenue, so a trader has to track both the shopping engine and the credit book. Margins are the main debate: heavy investment in shipping, credit and new markets has pushed operating income down while revenue grows fast.
How it makes money
Commerce earns a commission on marketplace sales, fees for fulfillment and shipping through Mercado Envios, and advertising from sellers and brands. Fintech earns payment fees on Mercado Pago transactions, interest and fees on consumer and merchant credit, and returns on the money held in user wallets. Growth depends on adding buyers and payment volume while keeping credit losses under control.
Last 12 monthsChart & venues →
Valuation & fundamentalsFull financials →
TTM through 2026-06-30 from SEC filings (some quarters derived from annual and year-to-date figures). Ratios use our pooled 24/7 price. Quarterly statements →
Biggest businessesAll products & projects →
Marketplace (Commerce)
GMV grew 44% in Q2 2026, with 89 million unique buyers.
Mercado Pago (payments and wallet)
Total payment volume reached $101 billion in Q2 2026, up 56%.
Mercado Pago credit
Credit portfolio passed $16 billion in Q2 2026, up 75%.
Mercado Ads (advertising)
Advertising is one of the fastest-growing lines inside Commerce.
Latest newsAll news →
Mercado Pago adds Dinero Blindado to hide balances when a phone leaves trusted places
Mercado Pago launched Dinero Blindado, a security feature that hides balances in peso and dollar reserves and investments and can disable dollar transfers and currency trades when the device leaves trusted places such as home or the office.
Brazil's Bovespa closes at a record after Bolsonaro leads first-round vote
Brazil's Bovespa index rose 7.7% to a record close of 206,911.89 on October 5, 2026, after the first round of the presidential election in which Flávio Bolsonaro finished first with about 47% of valid votes, ahead of Lula with about 45%.
Central bank removes the R$500 cap on contactless Pix payments
From October 1, 2026 the Banco Central no longer applies a fixed R$500 per-transaction limit to contactless Pix payments, under Instrução Normativa BCB nº 746.
Anvisa demands documents from Mercado Livre over prescription medicine sales
On September 29, 2026 Anvisa sent Mercado Livre a formal request for information about its drugstore activity, including its operating authorization, sanitary license and the name of a responsible pharmacist, with three business days to reply.
Mercado Livre starts selling prescription medicines in a São Paulo test
From September 25, 2026 Mercado Livre began selling medicines that require a prescription in a test in São Paulo, including antibiotics and GLP-1 injectable pens such as Ozempic.
MercadoLibre tests one-hour Envios Agora delivery and adds 20 distribution centers
On September 24, 2026 MercadoLibre announced Envio Agora, delivery within one hour for items up to 15 kg, starting as a test in four to five neighborhoods of São Paulo city.
Products & businesses
Marketplace (Commerce)
GMV grew 44% in Q2 2026, with 89 million unique buyers.
Mercado Pago (payments and wallet)
Total payment volume reached $101 billion in Q2 2026, up 56%.
Mercado Pago credit
Credit portfolio passed $16 billion in Q2 2026, up 75%.
Mercado Ads (advertising)
Advertising is one of the fastest-growing lines inside Commerce.
Mercado Envios (shipping and fulfillment)
Free shipping and first-party fulfillment are a large cost that the company keeps funding to win buyers.
What it's building next
Segments
| Segment | Revenue | Share | |
|---|---|---|---|
| Commerce The online marketplace where third-party sellers and MercadoLibre itself list products. Revenue comes from sales commissions, shipping and fulfillment services and advertising, with GMV as the main volume measure. | $16.29B | 56.4% | |
| Fintech Mercado Pago wallet, payments and credit. Revenue comes from payment processing fees, interest and fees on the credit portfolio and financial income on balances. TPV is the main volume measure. | $12.60B | 43.6% |
Fiscal 2025 · from the annual report
Valuation & fundamentals
TTM through 2026-06-30 from SEC filings (some quarters derived from annual and year-to-date figures). Ratios use our pooled 24/7 price.
Financial statements
| Metric | TTM | Q2 FY2026 2026-06-30 | Q1 FY2026 2026-03-31 | Q4 FY2025 2025-12-31 | Q3 FY2025 2025-09-30 | Q2 FY2025 2025-06-30 | Q1 FY2025 2025-03-31 | Q4 FY2024 2024-12-31 | Q3 FY2024 2024-09-30 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $35.18B | $10.17B +50% | $8.85B +49% | $8.76Bd +45% | $7.41B +39% | $6.79B +34% | $5.93B +37% | $6.06Bd +37% | $5.31B +35% |
| Gross profit | $15.01B | $4.16B +34% | $3.86B +39% | $3.78Bd +38% | $3.21B +32% | $3.09B +31% | $2.77B +37% | $2.75Bd +34% | $2.44B +16% |
| Operating income | $2.91B | $683.0M -17% | $611.0M -20% | $889.0Md +8% | $724.0M +30% | $825.0M +14% | $763.0M +45% | $820.0Md +145% | $557.0M -29% |
| Net income | $1.86B | $466.0M -11% | $417.0M -16% | $559.0Md -13% | $421.0M +6% | $523.0M -2% | $494.0M +44% | $639.0Md +287% | $397.0M +11% |
| EPS (diluted) | $36.77 | $9.19 -11% | $8.23 -16% | $11.03d -12% | $8.32 +6% | $10.31 -2% | $9.74 +44% | $12.60d +288% | $7.83 +9% |
| Operating cash flow | $13.90B | $3.66Bd +26% | $2.08B +101% | $5.21Bd +78% | $2.96Bd +85% | $2.92Bd +55% | $1.03B -32% | $2.92Bd +52% | $1.60Bd +70% |
| Capital expenditure | $1.50B | $441.0Md +54% | $271.0M -0% | $427.0Md +38% | $357.0Md +61% | $287.0Md +57% | $272.0M +86% | $309.0Md +72% | $222.0Md +76% |
| Share buybacks | — | — | — | $0d | $1.0Md | — | — | $0d | $0d -100% |
| Cash & equivalents | $3.65B | $3.65B | $3.68B | $3.67B | $2.58B | $3.01B | $2.98B | $2.63B | $2.16B |
| Total debt | $10.63B | $10.63B | $9.93B | $9.19B | $7.84B | $7.30B | $6.43B | $5.71B | $5.35B |
| Shares outstanding | 50.7M | 50.7M | 50.7M | 50.7M | 50.7M | 50.7M | 50.7M | 50.7M | 50.7M |
| Metric | FY2025 2025-12-31 | FY2024 2024-12-31 | FY2023 2023-12-31 | FY2022 2022-12-31 |
|---|---|---|---|---|
| Revenue | $28.89B +39% | $20.78B +38% | $15.11B +40% | $10.78B |
| Cost of revenue | $16.04B +43% | $11.20B +49% | $7.52B +35% | $5.58B |
| Gross profit | $12.86B +34% | $9.58B +26% | $7.59B +46% | $5.20B |
| Research & development | $2.27B +17% | $1.93B +6% | $1.83B +67% | $1.10B |
| Operating income | $3.20B +22% | $2.63B +19% | $2.21B +106% | $1.07B |
| EBIT | $3.20B +22% | $2.63B +19% | $2.21B +106% | $1.07B |
| Depreciation & amortization | $818.0M +33% | $617.0M +18% | $524.0M +30% | $403.0M |
| Income tax | $845.0M +62% | $521.0M -8% | $569.0M +91% | $298.0M |
| Net income | $2.00B +5% | $1.91B +94% | $987.0M +105% | $482.0M |
| EPS (diluted) | $39.40 +5% | $37.69 +94% | $19.46 +104% | $9.53 |
| Diluted shares (weighted) | 50.7M | 50.7M | 51.0M | 51.3M |
| Operating cash flow | $12.12B +53% | $7.92B +54% | $5.14B +75% | $2.94B |
| Capital expenditure | $1.34B +56% | $860.0M +69% | $509.0M +12% | $454.0M |
| Share buybacks | $1.0M +0% | $1.0M -100% | $356.0M +141% | $148.0M |
| Cash & equivalents | $3.67B | $2.63B | $2.56B | $1.91B |
| Long-term debt (incl. current portion) | $9.19B | $5.71B | $4.50B | $4.76B |
| Total debt | $9.19B | $5.71B | $4.50B | $4.76B |
| Total assets | $42.67B | $25.20B | $17.61B | $13.74B |
| Total liabilities | $35.92B | $20.84B | $14.54B | $11.91B |
| Shareholders' equity | $6.75B | $4.35B | $3.07B | $1.83B |
| Shares outstanding | 50.7M | 50.7M | 50.7M | 50.3M |
From XBRL data in SEC filings. Small figures under each value: change vs the same period a year earlier. d = derived (e.g. Q4 = full year − first nine months).
NewsFull archive →
Mercado Pago adds Dinero Blindado to hide balances when a phone leaves trusted places
Mercado Pago launched Dinero Blindado, a security feature that hides balances in peso and dollar reserves and investments and can disable dollar transfers and currency trades when the device leaves trusted places such as home or the office.
Brazil's Bovespa closes at a record after Bolsonaro leads first-round vote
Brazil's Bovespa index rose 7.7% to a record close of 206,911.89 on October 5, 2026, after the first round of the presidential election in which Flávio Bolsonaro finished first with about 47% of valid votes, ahead of Lula with about 45%.
Central bank removes the R$500 cap on contactless Pix payments
From October 1, 2026 the Banco Central no longer applies a fixed R$500 per-transaction limit to contactless Pix payments, under Instrução Normativa BCB nº 746.
Anvisa demands documents from Mercado Livre over prescription medicine sales
On September 29, 2026 Anvisa sent Mercado Livre a formal request for information about its drugstore activity, including its operating authorization, sanitary license and the name of a responsible pharmacist, with three business days to reply.
Mercado Livre starts selling prescription medicines in a São Paulo test
From September 25, 2026 Mercado Livre began selling medicines that require a prescription in a test in São Paulo, including antibiotics and GLP-1 injectable pens such as Ozempic.
MercadoLibre tests one-hour Envios Agora delivery and adds 20 distribution centers
On September 24, 2026 MercadoLibre announced Envio Agora, delivery within one hour for items up to 15 kg, starting as a test in four to five neighborhoods of São Paulo city.
MercadoLibre closes $1 billion offering of 5.85% notes due 2036
MercadoLibre closed a $1 billion underwritten offering of 5.850% senior unsecured notes due 2036 on September 14, 2026.
Anvisa opens rulemaking on pharmacies using e-commerce platforms for delivery
On August 19, 2026 Anvisa's board voted unanimously to open an administrative process that will set rules for pharmacies contracting digital channels and e-commerce platforms for logistics and delivery to consumers.
Mercado Pago launches Mago, an AI assistant that pays bills and makes transfers
Mercado Pago announced Mago on August 13, 2026 as a new generation of the AI financial assistant it first launched in October 2025.
Anvisa lifts ban on medicine sales and ads on Mercado Livre and other platforms
On August 10, 2026 Anvisa revoked the preventive measures that barred Mercado Livre, iFood, Rappi, Shopee, Americanas and Submarino from selling and advertising medicines, with the decision published in the Diario Oficial.
MercadoLibre Q2 2026: revenue up 50% to $10.17 billion, but operating margin falls to 6.7%
MercadoLibre reported second-quarter 2026 results on August 5.
MercadoLibre Q1 2026 revenue up 49% to $8.8 billion, but net income falls 16% on credit-card provisions
MercadoLibre reported first-quarter 2026 revenue of $8.85 billion, up 49%, above the roughly $8.3 billion analysts expected.
MercadoLibre retires Mercado Coin loyalty token; balances due by April 17
MercadoLibre began winding down Mercado Coin, the cashback and rewards token it launched in August 2022, and told users to sell or spend balances in the Mercado Pago app by April 17, 2026.
MercadoLibre plans record R$57 billion investment in Brazil for 2026, up 50%
MercadoLibre announced it will invest R$57 billion in Brazil in 2026, about 50% more than the R$38 billion it invested in 2025, or roughly US$10.9 billion by press conversion.
JPMorgan downgrades MercadoLibre to Neutral and cuts target to $2,100 from $2,650
JPMorgan cut MercadoLibre from Overweight to Neutral and lowered its December 2026 price target to $2,100 from $2,650.
Federal appeals court in Sao Paulo suspends injunction that shielded MercadoLibre from Anatel telecom rules
On February 27, 2026, the TRF-3 federal appeals court suspended a lower-court injunction that had excluded MercadoLibre from Anatel's prior inspection of telecom products and from joint liability for uncertified goods sold by marketplaces.
MercadoLibre Q4 2025 revenue rises 45% to $8.8 billion; operating margin squeezed by investment
MercadoLibre reported fourth-quarter 2025 revenue of $8.76 billion, up 45%, with diluted EPS of $11.03 against $12.61 a year earlier.
Ariel Szarfsztejn becomes MercadoLibre CEO as Marcos Galperin moves to Executive Chairman
MercadoLibre's leadership change took effect on January 1, 2026.
MercadoLibre reports fiscal Q3 2025 results: revenue $7.41B, up 39% from a year earlier
MercadoLibre filed a Form 8-K with the SEC on Oct 29, 2025, 4:00 PM ET, reporting an event dated Oct 29, 2025.
SEC filings
| Sep 16, 26 | CERT | CERT: MELI CERT - SIGNED | sec.gov ↗ |
| Sep 14, 26 | 8-A12B | 8-A12B: Securities registration (exchange listing) | sec.gov ↗ |
| Sep 14, 26 | 8-K | 8-K: Other Events (Item 8.01) | sec.gov ↗ |
| Sep 10, 26 | 424B2 | 424B2: Prospectus supplement | sec.gov ↗ |
| Sep 10, 26 | 8-K | 8-K: Material Agreement, Regulation FD Disclosure (Items 1.01, 7.01) | sec.gov ↗ |
| Sep 9, 26 | FWP | FWP: Free writing prospectus | sec.gov ↗ |
| Sep 8, 26 | 424B2 | 424B2: Prospectus supplement | sec.gov ↗ |
| Aug 5, 26 | 10-Q | 10-Q: Quarterly report for the period ended Jun 30, 2026 | sec.gov ↗ |
| Aug 5, 26 | 8-K | 8-K: Results of Operations (Item 2.02) | sec.gov ↗ |
| Jun 26, 26 | 3 | Form 3: Initial insider ownership statement | sec.gov ↗ |
| Jun 18, 26 | SCHEDULE 13D/A | SCHEDULE 13D/A: Activist/controlling ownership report (5%+) (amended) | sec.gov ↗ |
| Jun 15, 26 | 4 | Form 4: Melamud Marcelo (SVP - Chief Accounting Officer) — open-market buy 125 sh | sec.gov ↗ |
| Jun 12, 26 | 4 | Form 4: Tolda Stelleo (Director) — gift 250 sh | sec.gov ↗ |
| Jun 12, 26 | 4 | Form 4: Dubugras Henrique Vasoncelos (Director) — derivative/holdings only | sec.gov ↗ |
| Jun 12, 26 | 4 | Form 4: Calemzuk Emiliano (Director) — derivative/holdings only | sec.gov ↗ |
| Jun 12, 26 | 4 | Form 4: Aguzin Alejandro Nicolas (Director) — award 94 sh | sec.gov ↗ |
| Jun 12, 26 | 4 | Form 4: SEGAL SUSAN (Director) — derivative/holdings only | sec.gov ↗ |
| Jun 12, 26 | 4 | Form 4: Sanders Richard A (Director) — award 94 sh | sec.gov ↗ |
| Jun 12, 26 | 4 | Form 4: Lawson Martin R (Director) — award 94 sh | sec.gov ↗ |
| Jun 12, 26 | 8-K | 8-K: Shareholder Vote Results (Item 5.07) | sec.gov ↗ |
| May 26, 26 | 4 | Form 4: Aguzin Alejandro Nicolas (Director) — open-market buy 600 sh | sec.gov ↗ |
| May 14, 26 | SCHEDULE 13G | SCHEDULE 13G: Passive ownership report (5%+) | sec.gov ↗ |
| May 8, 26 | 10-Q | 10-Q: Quarterly report for the period ended Mar 31, 2026 | sec.gov ↗ |
| May 7, 26 | 8-K | 8-K: Results of Operations (Item 2.02) | sec.gov ↗ |
| May 6, 26 | SCHEDULE 13G/A | SCHEDULE 13G/A: Passive ownership report (5%+) (amended) | sec.gov ↗ |