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Mercado Libre MELI Operating margin

Operating margin at other companies

Amazon logo
AmazonAMZN
11.5%+0.5pp
eBay logo
eBayEBAY
19.6%-2.7pp
DoorDash logo
DoorDashDASH
4.9%
PayPal Holdings, Inc. logo
PayPal Holdings, Inc.PYPL
17.9%0.0pp
Affirm Holdings, Inc. logo
Affirm Holdings, Inc.AFRM
-7.3%-3.2pp
Global Payments logo
Global PaymentsGPN
15.3%-10.4pp

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+69.6%

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$82.73B-11.4%
Enterprise value$80.05B-16.9%
P/E43.1×-2.2×
P/S2.6×-1.6×

Profitability

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Gross margin43.9%-2.3pp
Net margin6%-3.2pp

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

Calculated from Mercado Libre’s reported figures.

Based on trailing twelve months.

The official record: Mercado Libre’s 10-Q, filed May 8, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Mercado Libre's operating margin?
Mercado Libre (MELI) reported operating margin of 9.6% in Q1 2026.
How has Mercado Libre's operating margin changed year-over-year?
Mercado Libre's operating margin decreased by 25.1% year-over-year, from 12.8% to 9.6%.
What is the long-term trend for Mercado Libre's operating margin?
Over 3 years (2022 to 2025), Mercado Libre's operating margin has grown at a 16.9% compound annual growth rate (CAGR), from 30.1% to 48.1%.
What does operating margin mean?
The profit left from core operations for every dollar of sales, before interest and taxes.
How do you interpret operating margin?
Expanding operating margin shows operating leverage — revenue growing faster than the cost base. Compression points to rising overhead, pricing pressure, or investment ahead of revenue.
How does operating margin compare across companies?
Strong cross-company signal within a sector. Capital-light businesses sustain higher operating margins than capital-intensive ones.