dLocal (DLO) Net Margin (2020 - 2025)
dLocal (DLO) reported Net Margin of 16.44% for Q4 2025, up 192.0% year-over-year from 5.63% in Q4 2024, and down 10.41% quarter-over-quarter from 18.35% in Q3 2025.
dLocal (DLO) Net Margin (2020 - 2025) Analysis & Trends
dLocal (DLO) has 6 years of Net Margin data on file, last reported at 16.44% in Q4 2025.
- Net Margin for Q4 2025 came in at 16.44%, up 192.0% year-over-year; the trailing twelve-month figure through Dec 2025 was 18.7% (up 256.0% YoY), and the FY2025 annual result was 18.0%, up 185.0% from the prior year.
- Net Margin declined to 16.44% in Q4 2025 per DLO's latest filing, from 18.35% in the prior quarter.
- Over five years, Net Margin peaked at 42.54% in Q1 2021 and troughed at 9.6% in Q1 2024.
- A 5-year average of 23.89% and a median of 25.75% in 2023 frame the typical range for Net Margin.
- The sharpest annual moves came in 2024 and 2025: Net Margin sank 1730 bps in 2024, then surged 1355 bps in 2025.
- A 5-year view of Net Margin shows it stood at 30.93% in 2021, then slumped by 46 bps to 16.78% in 2022, then slipped by 10 bps to 15.17% in 2023, then slipped by 4 bps to 14.52% in 2024, then grew by 13 bps to 16.44% in 2025.
- Business Quant data shows DLO's Net Margin at 16.44% in Q4 2025, 18.35% in Q3 2025, and 18.33% in Q2 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 2,998.30 Bn | 2,920.03 Bn | 56.06 Bn | 38.34% |
| 2 | Alarum Technologies | 1,040.72 Bn | 1,026.57 Bn | 7.23 Mn | 5.06% |
| 3 | Oracle | 590.32 Bn | 551.74 Bn | 15.14 Bn | 21.52% |
| 4 | Palantir Technologies | 316.31 Bn | 308.39 Bn | 1.42 Bn | 53.68% |
| 5 | Palo Alto Networks | 181.17 Bn | 176.63 Bn | 1.91 Bn | 16.65% |
| 6 | CrowdStrike Holdings | 161.69 Bn | 158.63 Bn | 993.68 Mn | 4.71% |
| 7 | Fortinet | 102.35 Bn | 99.06 Bn | 1.49 Bn | 28.90% |
| 8 | Synopsys | 88.25 Bn | 88.13 Bn | 1.77 Bn | 2.69% |
| 9 | Cloudflare | 83.26 Bn | 82.32 Bn | 455.60 Mn | -3.58% |
| 10 | dLocal | 3.47 Bn | 2.75 Bn | 115.80 Mn | 16.44% |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 16.44% |
| Sep 30, 2025 | 18.35% |
| Jun 30, 2025 | 18.33% |
| Mar 31, 2025 | 23.15% |
| Dec 31, 2024 | 14.52% |
| Sep 30, 2024 | 14.42% |
| Jun 30, 2024 | 27.00% |
| Mar 31, 2024 | 9.60% |
| Dec 31, 2023 | 15.17% |
| Sep 30, 2023 | 24.59% |
| Jun 30, 2023 | 28.78% |
| Mar 31, 2023 | 26.90% |
| Dec 31, 2022 | 16.78% |
| Sep 30, 2022 | 29.02% |
| Jun 30, 2022 | 30.22% |
| Mar 31, 2022 | 31.39% |
| Dec 31, 2021 | 30.93% |
| Sep 30, 2021 | 28.64% |
| Jun 30, 2021 | 31.15% |
| Mar 31, 2021 | 42.54% |