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Mercado Libre MELI Q4 2025 Annual earnings

Reported February 24, 2026 · After market close

Revenue$8.8BBeat by $309.4MDiluted EPS$11.03Miss by $0.42
Revenue estimate$8.4B
EPS estimate$11.45

Next report

Aug 5, 2026 (in a month)
Revenue estimate$9.7B
EPS estimate$8.69

Financials

Q4 2025

Income statement

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Revenue$8.8B+44.6%
Gross profit$3.8B+37.7%
Operating income$889.0M+8.4%
Net income$559.0M-12.5%
EPS (diluted)$11.03-12.5%

Balance sheet

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Cash & equivalents$13.5B+188%
Total debt$11.5B+65.3%
Total equity$6.7B+55.1%
Total assets$42.7B+69.3%

Cash flow

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Operating cash flow$5.2B+78.1%
CapEx$427.0M+38.2%
Free cash flow$4.8B+82.9%

Valuation & ratios

Q4 2025

Valuation

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Market cap$102.12B+18.5%
Enterprise value$100.1B+13.1%
P/E51.1×+6.0×
P/S3.5×-0.6×

Profitability

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Gross margin44.5%-1.6pp
Operating margin11.1%-1.6pp
Net margin6.9%-2.3pp
FCF margin37.3%+3.3pp

Returns & leverage

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Return on equity36%-15.5pp
Debt / equity1.7×+0.1×
Current ratio1.2×0.0×

Segments

By segment

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Brazil$4.6B+47.9%
Mexico$2.1B+55.6%
Argentina$1.6B+23.3%

By product

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Services$3.8B+32.3%
Credit revenues$1.9B+77.1%

Versus estimates

Revenue

Q1 2026$8.8BBeat by $552.8M
Q4 2025$8.8BBeat by $309.4M
Q3 2025$7.4BBeat by $191.6MQ2 2025$6.8BBeat by $115.8MQ1 2025$5.9BBeat by $448.2MQ4 2024$6.1BBeat by $236.8M

Diluted EPS

Q1 2026$8.23Miss by $0.52
Q4 2025$11.03Miss by $0.42
Q3 2025$8.32Miss by $0.80Q2 2025$10.31Miss by $1.62Q1 2025$9.74Beat by $1.47Q4 2024$12.61Beat by $2.40

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Questions, answered.

When did Mercado Libre report Q4 2025 earnings?
Mercado Libre (MELI) reported Q4 2025 earnings on February 24, 2026 after market close.
What were Mercado Libre's Q4 2025 revenue and EPS?
Mercado Libre reported revenue of $8.8B and diluted EPS of $11.03 for Q4 2025.
Did Mercado Libre beat estimates in Q4 2025?
Revenue beat the consensus estimate of $8.4B by $309.4M. EPS missed the consensus estimate of $11.45 by $0.42.
How did Mercado Libre's Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 44.6% from $6.1B a year earlier and diluted EPS declined 12.5% from $12.61.
Where can I find Mercado Libre's Q4 2025 SEC filings?
You can read the 8-K earnings release (0001099590-26-000003) and the 10-K periodic report (0001099590-26-000006) directly on SEC EDGAR. The filing index links above go to sec.gov.