dLocal (DLO) EBITDA Margin (2020 - 2026)
dLocal (DLO) posted quarterly EBITDA Margin of 23.21% for Q4 2025, down 462.0% year-over-year from 6.41% in Q4 2024, and up 17.93% quarter-over-quarter from 19.68% in Q3 2025.
dLocal (DLO) EBITDA Margin (2020 - 2026) Analysis & Trends
dLocal (DLO) has reported EBITDA Margin for 6 consecutive years, with 23.21% the latest figure, recorded in Q4 2025.
- In Q4 2025, EBITDA Margin fell 462.0% year-over-year to 23.21%; the TTM figure through Dec 2025 stood at 21.55% (up 75.0% YoY), while the FY2025 annual figure was 25.43%, up 13.0% from the prior year.
- EBITDA Margin improved to 23.21% in Q4 2025 per DLO's latest filing, from 19.68% in the prior quarter.
- Across five years, EBITDA Margin topped out at 46.66% in Q1 2021 and bottomed at 14.59% in Q1 2024.
- Historically, EBITDA Margin has averaged 28.19% across 5 years, with a median of 28.25% in 2024.
- Annual changes were most pronounced in 2024 — EBITDA Margin slumped 1408 bps — and 2025, when it jumped 656 bps.
- dLocal's EBITDA Margin stood at 32.21% in 2021, then plunged by 31 bps to 22.38% in 2022, then decreased by 3 bps to 21.81% in 2023, then increased by 28 bps to 27.83% in 2024, then declined by 17 bps to 23.21% in 2025.
- Business Quant data shows DLO's EBITDA Margin at 23.21% in Q4 2025, 19.68% in Q3 2025, and 21.74% in Q2 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,576.39 Bn | 3,443.64 Bn | 60.48 Bn | 45.11% |
| 2 | Palantir Technologies | 412.58 Bn | 403.17 Bn | 1.64 Bn | 47.12% |
| 3 | Oracle | 407.66 Bn | 375.77 Bn | - | 31.97% |
| 4 | Palo Alto Networks | 299.27 Bn | 296.16 Bn | 2.03 Bn | -6.10% |
| 5 | Fortinet | 115.83 Bn | 111.76 Bn | 1.64 Bn | 33.66% |
| 6 | Cloudflare | 106.65 Bn | 102.48 Bn | 499.52 Mn | -29.55% |
| 7 | Synopsys | 76.61 Bn | 74.41 Bn | 1.77 Bn | 8.43% |
| 8 | CoreWeave | 51.53 Bn | 45.99 Bn | 1.70 Bn | -1.90% |
| 9 | Block | 47.55 Bn | 41.12 Bn | 3.17 Bn | 6.75% |
| 10 | dLocal | 3.92 Bn | 3.05 Bn | 127.15 Mn | 16.05% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 16.05% |
| Dec 31, 2025 | 23.21% |
| Sep 30, 2025 | 19.68% |
| Jun 30, 2025 | 21.74% |
| Mar 31, 2025 | 21.15% |
| Dec 31, 2024 | 27.83% |
| Sep 30, 2024 | 22.14% |
| Jun 30, 2024 | 17.63% |
| Mar 31, 2024 | 14.59% |
| Dec 31, 2023 | 21.81% |
| Sep 30, 2023 | 31.44% |
| Jun 30, 2023 | 29.64% |
| Mar 31, 2023 | 28.67% |
| Dec 31, 2022 | 22.38% |
| Sep 30, 2022 | 33.28% |
| Jun 30, 2022 | 34.68% |
| Mar 31, 2022 | 33.26% |
| Dec 31, 2021 | 32.21% |
| Sep 30, 2021 | 37.88% |
| Jun 30, 2021 | 43.97% |