MercadoLibre (MELI): analysis in plain words
Is MercadoLibre cheap or expensive? How it makes money, whether it grows and its risks, explained in plain words and with its official accounts.
MercadoLibre (MELI) is listed on the Nasdaq and we classify it in retail. Below are its key dated figures, how it makes money, how it compares with its sector, what works for and against MercadoLibre according to those figures, and the questions people ask most about the stock. No buy or sell tips.
MercadoLibre (MELI) key figures as of November 4, 2026
| Figure | Value | What it measures |
|---|---|---|
| Share price | $1,739.88 | Last price on November 4, 2026 |
| P/E ratio (TTM) | 47.3x | Price over earnings per share |
| Revenue growth | +49.8% | Latest quarter vs the same quarter a year earlier |
| Net margin (TTM) | 5.3% | Profit for every 100 of sales |
| Net debt / EBITDA | 1.9x | Years of operating profit to repay debt |
| Dividend yield | 0.00% | Annual dividend over price |
| Market cap | $88.2 billion | What the stock market values it at |
The MercadoLibre figures come from Yahoo Finance, the same source the Fintols analysis uses, retrieved on November 4, 2026. Any MELI figure that is not available shows as N/A: we do not estimate it.
How MercadoLibre makes money
MercadoLibre runs Latin America's largest online marketplace and reports two areas: commerce, including marketplace fees, Mercado Envíos shipping and advertising; and fintech, through Mercado Pago, which provides payments, accounts and loans. Brazil is its biggest market, followed by Mexico and Argentina.
Over the last 12 months, MercadoLibre brought in revenue of $35.2 billion. For every 100 it sells, MercadoLibre keeps 47.7 after the direct cost of what it sells (gross margin) and 6.7 after all operating costs (operating margin). With 123,670 full-time employees, that is about $284,000 of revenue per employee.
MercadoLibre against its sector
To know whether a MercadoLibre figure is high or low you have to put it next to similar companies. This table compares MercadoLibre with the median of the 18 retail companies Fintols covers, with data as of November 4, 2026.
| Figure | MercadoLibre | retail median |
|---|---|---|
| P/E | 47.3x | 26.2x (18) |
| Revenue growth | +49.8% | +7.1% (18) |
| Net margin | 5.3% | 7.2% (18) |
| Dividend yield | 0.00% | 0.78% (18) |
| Net debt / EBITDA | 1.9x | 1.5x (18) |
In short, against the typical retail company, MercadoLibre trades on a higher P/E, grows faster and earns a thinner margin. By size, MercadoLibre ranks number 9 of 17 retail companies quoted in USD on Fintols.
The bull case for MercadoLibre
These are the strengths in the MercadoLibre figures as of November 4, 2026:
- MercadoLibre is selling more than a year ago: +49.8% in its latest quarter (the typical retail company grew +7.1%).
- Analysts expect MercadoLibre earnings to rise: its P/E on the next 12 months of estimated earnings is 31.1x, below the current 47.3x.
- MercadoLibre earns 27.5% a year on its shareholders' money (return on equity).
The main risk for MercadoLibre
The price already assumes a lot: MercadoLibre trades at 47.3x its last 12 months of earnings, against 26.2x for the retail median. If growth disappoints, the multiple can shrink and the share price with it.
And, like the rest of retail, MercadoLibre is exposed to price competition, which keeps margins thin, and a slowdown in consumer spending.
Frequently asked questions about MercadoLibre
Is it a good time to buy MercadoLibre stock?
Fintols does not tell you whether to buy or sell MercadoLibre, and nobody knows what the price will do tomorrow. What we can show you is where it stands today. As of November 4, 2026, MercadoLibre stock trades at $1,739.88, 26% below its 52-week high ($2,342.00) and 16% above its low ($1,495.00). Its P/E is 47.3x against a retail median of 26.2x, and 31.1x on the earnings analysts expect over the next 12 months. With MercadoLibre, as with any stock, timing matters less than understanding the business, investing for the long run and not betting everything on a single company.
Does MercadoLibre pay a dividend?
No. As of November 4, 2026, MercadoLibre does not pay a dividend: what it earns stays in the company to grow, invest or, where it does so, buy back shares. Anyone buying MercadoLibre today is counting on the share price rising, not on income.
Is MercadoLibre stock expensive?
It depends on what you compare it with. On P/E, MercadoLibre trades at 47.3x its last 12 months of earnings: more expensive than the retail median (26.2x). Including its debt, MercadoLibre is valued at 23.6x its EBITDA (EV/EBITDA). A high P/E alone does not make MercadoLibre expensive: it can be justified if earnings grow fast, and a low one can reflect a business in trouble.
Who are MercadoLibre's competitors?
On Fintols we compare MercadoLibre with Target, O'Reilly Automotive and AutoZone, which are also in retail. As of November 4, 2026, Target is worth $74.1 billion and trades on a P/E of 16.9; O'Reilly Automotive is worth $74.3 billion and trades on a P/E of 28.3; AutoZone is worth $53.5 billion and trades on a P/E of 21.8. Each has a side-by-side comparison with MercadoLibre below.
MercadoLibre competitors
- Target (TGT) analysis · MercadoLibre vs Target comparison
- O'Reilly Automotive (ORLY) analysis · MercadoLibre vs O'Reilly Automotive comparison
- AutoZone (AZO) analysis · MercadoLibre vs AutoZone comparison
To understand MercadoLibre better
- Economic Moats Explained: From Warren Buffett to AI
- 7 Common Beginner Investing Mistakes (and How to Avoid Them)
More companies like MercadoLibre: retail stocks. Open the full MELI analysis with its valuation and scenarios. Educational content about MercadoLibre, not investment advice.