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Mercado Libre MELI Total Operating Expenses

Discontinued — last reported Q1 '26

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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 us-gaap:OperatingExpenses.

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 itemThree Months Ended March 31, 2026Three Months Ended March 31, 2025
Sales and marketing(982)(599)
Provision for doubtful accounts(1,244)(603)
General and administrative(326)(255)
Total operating expenses(3,251)(2,008)
Income from operations611763
Other income (expenses):
Interest income and other financial gains, net2737
Interest expense and other financial losses(65)(39)

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

FAQ

What is Mercado Libre's total operating expenses?
Mercado Libre (MELI) reported total operating expenses of $3.25B in Q1 2026.
How has Mercado Libre's total operating expenses changed year-over-year?
Mercado Libre's total operating expenses increased by 61.9% year-over-year, from $2.01B to $3.25B.
What is the long-term trend for Mercado Libre's total operating expenses?
Over 4 years (2021 to 2025), Mercado Libre's total operating expenses has grown at a 39.3% compound annual growth rate (CAGR), from $2.56B to $9.66B.
What does total operating expenses mean?
The sum of all operating costs including COGS, SG&A, R&D, D&A, and other operating charges. Revenue minus total operating expenses equals operating income.

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