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Mercado Libre MELI Other Countries — Direct Contribution

Other segment segments

Argentina
$607M-6.3%
Brazil
$389M-28.2%
Mexico
$344M+58.5%

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Other financials

Income statement

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Revenue$8.8B+49.0%
Gross profit$3.9B+39.4%
Operating income$611.0M-19.9%
Net income$417.0M-15.6%
EPS (diluted)$8.23-15.5%

Balance sheet

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Cash & equivalents$15.1B+237%
Total debt$12.5B+59.0%
Total equity$7.3B+45.5%
Total assets$46.9B+69.5%

Cash flow

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Operating cash flow$2.1B+101%
CapEx$271.0M-0.4%
Free cash flow$1.8B+138%

Valuation

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Market cap$96.26B-20.7%
Enterprise value$93.59B-24.3%
P/E50.1×-9.0×
P/S-2.0×

Profitability

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Gross margin43.9%-2.3pp
Operating margin9.6%-3.2pp
Net margin6%-3.2pp
FCF margin37.2%+8.3pp

Returns & leverage

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Return on equity31.3%-17.8pp
Debt / equity1.7×+0.1×
Current ratio1.2×0.0×

Where this comes from

Reported directly by Mercado Libre in its filing.

Tagged under the XBRL concept meli:DirectContribution.

The source filing: Mercado Libre’s 10-Q, filed May 8, 2026.

Filed
May 8, 2026, 4:03 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001099590-26-000017
Line itemBrazilMexicoArgentinaOther CountriesTotal
Local operating expenses(4,278)(1,546)(1,065)(320)(7,209)
Depreciation and amortization(107)(86)(26)(13)(232)
Total segment costs(4,385)(1,632)(1,091)(333)(7,441)
Direct contribution389344607641,404
Operating expenses and indirect costs of net revenues and financial expenses(793)
Income from operations611
Other income (expenses):
Interest income and other financial gains, net27

ITEM 1 — UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS [1](#i84f3433ca70e43aba43b2c42eb8a2df8_16)

FAQ

What is Mercado Libre's other countries — direct contribution?
Mercado Libre (MELI) reported other countries — direct contribution of $64M in Q1 2026.
How has Mercado Libre's other countries — direct contribution changed year-over-year?
Mercado Libre's other countries — direct contribution increased by 42.2% year-over-year, from $45M to $64M.
What is the long-term trend for Mercado Libre's other countries — direct contribution?
Over 4 years (2021 to 2025), Mercado Libre's other countries — direct contribution has grown at a 23.4% compound annual growth rate (CAGR), from $76M to $176M.
What does other countries — direct contribution mean?
This metric measures the profit generated by the 'Other Countries' segment after deducting direct costs and expenses from segment revenues. It serves as a primary indicator of the segment's ability to contribute to the company's overall bottom line before corporate-level allocations. It is a critical measure for assessing the viability and performance of regional business units.

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