Income StatementBalance SheetCash FlowSegments
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Mercado Libre Business Segments

Business, geographic, and product segment breakdowns

Mercado Libre generates $31.8B in annual revenue across 3 key segments: Argentina ($6.3B), Brazil ($16.9B), and Mexico ($7.2B). The company-wide operating margin is 9.59%. Based on the Q1 2026 filing.

Argentina (TTM)$6.3BBrazil (TTM)$16.9BMexico (TTM)$7.2B
Latest FilingQ1 2026
Report Date2026-05-08
Market Cap$84.4B
P/E Ratio43.95
ROE31.26%

Products & Services

Committed contract, minimum annual cost

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Air Logistics Services$233.0M$272.0M$263.0M$301.0M$291.0M$282.0M
Logistic Services$39.0M$37.0M$35.0M$33.0M$26.0M$23.0M

Net revenues and financial income

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Services$2.8B$2.7B$3.0B$3.3B$3.8B$3.8B
Credit revenues$1.0B$1.1B$1.3B$1.5B$1.9B$2.0B
Product Sales—$602.0M$811.0M$916.0M—$1.1B

Geographic

Currency translation adjustments

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Brazil-$7.0M$4.0M$3.0M$1.0M—$3.0M
Chile-$3.0M$1.0M$0.0-$1.0M$2.0M-$1.0M
Argentina$0.0$0.0$0.0$0.0$0.0$0.0
Colombia$0.0$0.0$0.0$0.0$1.0M$0.0
Mexico-$2.0M$1.0M$2.0M$1.0M$1.0M$0.0
Other countries$0.0$0.0$0.0$0.0$0.0$0.0

Finite-Lived Intangible Assets, Accumulated Amortization

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Other countries$23.0M$24.0M$24.0M$25.0M$26.0M$25.0M
Brazil$6.0M$7.0M$9.0M$10.0M$12.0M$14.0M
Argentina$7.0M$8.0M$8.0M$8.0M$8.0M$9.0M
Mexico$4.0M$4.0M$5.0M$5.0M$5.0M$5.0M

Foreign exchange rate

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Argentina103200.0%107400.0%120500.0%138000.0%145500.0%138200.0%

Goodwill

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Brazil$56.0M$60.0M$63.0M$64.0M$62.0M$65.0M
Mexico$39.0M$40.0M$42.0M$43.0M$44.0M$44.0M
Chile$33.0M$34.0M$34.0M$33.0M$35.0M$34.0M
Argentina$14.0M$14.0M$14.0M$14.0M$14.0M$14.0M
Colombia$5.0M$5.0M$5.0M$5.0M$6.0M$6.0M
Other countries$2.0M$2.0M$2.0M$2.0M$2.0M$2.0M

Goodwill and intangible assets

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Brazil$64.0M$98.0M$102.0M$105.0M$101.0M$106.0M
Other countries$71.0M$71.0M$73.0M$71.0M$74.0M$73.0M
Mexico$43.0M$45.0M$47.0M$48.0M$49.0M$49.0M
Argentina$23.0M$23.0M$23.0M$23.0M$23.0M$23.0M

Intangible Assets, Net (Including Goodwill)

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Brazil$58.0M$91.0M$93.0M$95.0M$89.0M$92.0M
Other countries$48.0M$47.0M$49.0M$46.0M$48.0M$48.0M
Mexico$39.0M$41.0M$42.0M$43.0M$44.0M$44.0M
Argentina$16.0M$15.0M$15.0M$15.0M$15.0M$14.0M

Operating Lease, Right-of-Use-Asset, Accumulated Amortization

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Brazil$139.0M$175.0M$220.0M$231.0M$262.0M$278.0M
Mexico$116.0M$141.0M$175.0M$206.0M$243.0M$272.0M
Other countries$39.0M$44.0M$41.0M$46.0M$52.0M$56.0M
Argentina$36.0M$38.0M$40.0M$41.0M$44.0M$47.0M
U.S.$1.0M$1.0M$1.0M$1.0M$1.0M$2.0M

Property and equipment

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Brazil$1.1B$1.2B$1.3B$1.5B$1.6B$1.7B
Mexico$713.0M$803.0M$985.0M$1.1B$1.3B$1.4B
Argentina$434.0M$459.0M$487.0M$521.0M$552.0M$587.0M
Other countries$178.0M$192.0M$209.0M$220.0M$241.0M$249.0M
U.S.$10.0M$10.0M$10.0M$10.0M$10.0M$10.0M

Property, Plant, and Equipment and Finance Lease Right-of-Use Asset, Accumulated Depreciation and Amortization

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Brazil$497.0M$481.0M$552.0M$614.0M$644.0M$726.0M
Mexico$239.0M$263.0M$315.0M$356.0M$403.0M$447.0M
Argentina$199.0M$209.0M$223.0M$237.0M$250.0M$269.0M
Other countries$92.0M$95.0M$104.0M$110.0M$119.0M$126.0M
U.S.$6.0M$7.0M$7.0M$7.0M$8.0M$8.0M

Property, Plant, and Equipment and Finance Lease Right-of-Use Asset, after Accumulated Depreciation and Amortization

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Brazil$581.0M$673.0M$757.0M$872.0M$939.0M$1.0B
Mexico$474.0M$540.0M$670.0M$789.0M$938.0M$963.0M
Argentina$235.0M$250.0M$264.0M$284.0M$302.0M$318.0M
U.S.$4.0M$3.0M$3.0M$3.0M$2.0M$2.0M

Right of use asset

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Mexico$616.0M$691.0M$941.0M$1.2B$1.3B$1.5B
Brazil$618.0M$768.0M$1.0B$1.1B$1.1B$1.2B
Other countries$115.0M$120.0M$117.0M$145.0M$159.0M$177.0M
Argentina$76.0M$78.0M$77.0M$133.0M$153.0M$173.0M
U.S.$4.0M$4.0M$4.0M$4.0M$4.0M$4.0M

Spread of exchange rate (in percent)

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Argentina14.7%22.9%—11.7%4.6%7.5%

Deposited in brazilian federal government bonds

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Brazil$3.4B$4.3B$3.6B$2.1B$786.0M$194.0M

Restricted collateral foreign deposits

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Brazil$42.0M———$74.0M—

Operating Lease, Right-of-Use Asset

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Other countries$76.0M$76.0M$76.0M$99.0M$107.0M$121.0M
U.S.$3.0M$3.0M$3.0M$3.0M$3.0M$2.0M

PP&E (Net)

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Other countries$86.0M$97.0M$105.0M$110.0M$122.0M$123.0M

Net revenues and financial income

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
U.S.$11.0M$10.0M$10.0M$13.0M$18.0M$16.0M

Business Segments

Costs and Expenses

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Brazil$2.6B$2.5B$2.9B$3.5B$4.1B$4.4B
Mexico$1.1B$1.0B$1.2B$1.3B$1.7B$1.6B
Argentina$694.0M$734.0M$866.0M$869.0M$1.0B$1.1B
Other Countries$229.0M$204.0M$256.0M$265.0M$354.0M$333.0M

Depreciation, Depletion and Amortization

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Brazil$74.0M$83.0M$98.0M$95.0M$110.0M$107.0M
Mexico$34.0M$45.0M$60.0M$67.0M$78.0M$86.0M
Argentina$20.0M$20.0M$19.0M$21.0M$23.0M$26.0M
Other Countries$10.0M$11.0M$11.0M$13.0M$12.0M$13.0M

Direct Contribution

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Argentina$613.0M$648.0M$661.0M$572.0M$600.0M$607.0M
Brazil$544.0M$542.0M$541.0M$475.0M$517.0M$389.0M
Mexico$244.0M$217.0M$268.0M$305.0M$381.0M$344.0M
Other Countries$40.0M$45.0M$28.0M$43.0M$60.0M$64.0M

Local Operating Expenses

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Brazil$2.5B$2.5B$2.8B$3.4B$4.0B$4.3B
Mexico$1.1B$960.0M$1.2B$1.3B$1.6B$1.5B
Argentina$674.0M$714.0M$847.0M$848.0M$989.0M$1.1B
Other Countries$219.0M$193.0M$245.0M$252.0M$342.0M$320.0M

Net revenues and financial income

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Brazil$3.1B$3.1B$3.5B$4.0B$4.6B$4.8B
Mexico$1.3B$1.2B$1.5B$1.7B$2.1B$2.0B
Argentina$1.3B$1.4B$1.5B$1.4B$1.6B$1.7B

Operating Lease, Right-of-Use Asset

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Mexico$500.0M$550.0M$766.0M$988.0M$1.1B$1.2B
Brazil$479.0M$593.0M$782.0M$860.0M$878.0M$967.0M
Argentina$40.0M$40.0M$37.0M$92.0M$109.0M$126.0M

Total amount of claim including surcharges and interest

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Brazilian Subsidiaries$27.0M———$33.0M—

Net revenues

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Other Countries$269.0M$249.0M$284.0M$308.0M$414.0M$397.0M