dLocal (DLO) Invested Capital (2020 - 2026)
dLocal (DLO) posted quarterly Invested Capital of -$946.3 million for Q4 2025, down 43.71% year-over-year from -$1.7 billion in Q4 2024, and down 1600.16% quarter-over-quarter from $63.1 million in Q3 2025.
dLocal (DLO) Invested Capital (2020 - 2026) Analysis & Trends
dLocal (DLO) has reported Invested Capital for 6 consecutive years, with -$946.3 million the latest figure, recorded in Q4 2025.
- In Q4 2025, Invested Capital fell 43.71% year-over-year to -$946.3 million; the TTM figure through Dec 2025 stood at -$806.4 million (down 25.67% YoY), while the FY2025 annual figure was -$946.3 million, down 43.71% from the prior year.
- Invested Capital declined to -$946.3 million in Q4 2025 per DLO's latest filing, from $63.1 million in the prior quarter.
- Across five years, Invested Capital topped out at $100.0 million in Q2 2023 and bottomed at -$946.3 million in Q4 2025.
- Historically, Invested Capital has averaged -$147.6 million across 5 years, with a median of $16.8 million in 2024.
- Annual changes were most pronounced in 2021 — Invested Capital sank 96.57% — and 2025, when it jumped 276.03%.
- dLocal's Invested Capital stood at $5.0 million in 2021, then surged by 195.64% to $14.8 million in 2022, then jumped by 576.5% to $100.0 million in 2023, then plunged by 758.47% to -$658.5 million in 2024, then tumbled by 43.71% to -$946.3 million in 2025.
- Business Quant data shows DLO's Invested Capital at -$946.3 million in Q4 2025, $63.1 million in Q3 2025, and $56.8 million in Q2 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Invested Cap. (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,576.39 Bn | 3,443.64 Bn | 60.48 Bn | 9.23 Bn |
| 2 | Palantir Technologies | 412.58 Bn | 403.17 Bn | 1.64 Bn | - |
| 3 | Oracle | 407.66 Bn | 375.77 Bn | - | - |
| 4 | Palo Alto Networks | 299.27 Bn | 296.16 Bn | 2.03 Bn | 160.00 Mn |
| 5 | Fortinet | 115.83 Bn | 111.76 Bn | 1.64 Bn | - |
| 6 | Cloudflare | 106.65 Bn | 102.48 Bn | 499.52 Mn | 1.29 Bn |
| 7 | Synopsys | 76.61 Bn | 74.41 Bn | 1.77 Bn | 22.12 Mn |
| 8 | CoreWeave | 51.53 Bn | 45.99 Bn | 1.70 Bn | 221.00 Mn |
| 9 | Block | 47.55 Bn | 41.12 Bn | 3.17 Bn | 572.39 Mn |
| 10 | dLocal | 3.92 Bn | 3.05 Bn | 127.15 Mn | -1.62 Bn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | -1.62 Bn |
| Dec 31, 2025 | -946.29 Mn |
| Sep 30, 2025 | 63.08 Mn |
| Jun 30, 2025 | 56.81 Mn |
| Mar 31, 2025 | 20.00 Mn |
| Dec 31, 2024 | -658.47 Mn |
| Sep 30, 2024 | 16.78 Mn |
| Jun 30, 2023 | 100.00 Mn |
| Dec 31, 2022 | 14.78 Mn |
| Dec 31, 2021 | 5.00 Mn |
| Dec 31, 2020 | 145.76 Mn |