dLocal (DLO) Net Margin (2020 - 2026)
dLocal (DLO) posted quarterly 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 - 2026) Analysis & Trends
dLocal (DLO) has reported Net Margin for 6 consecutive years, with 16.44% the latest figure, recorded in Q4 2025.
- In Q4 2025, Net Margin rose 192.0% year-over-year to 16.44%; the TTM figure through Dec 2025 stood at 18.32% (up 218.0% YoY), while the FY2025 annual figure was 18.0%, up 185.0% from the prior year.
- Net Margin slipped to 16.44% in Q4 2025 per DLO's latest filing, from 18.35% in the prior quarter.
- Across five years, Net Margin topped out at 42.54% in Q1 2021 and bottomed at 9.6% in Q1 2024.
- Historically, Net Margin has averaged 23.79% across 5 years, with a median of 25.75% in 2023.
- Annual changes were most pronounced in 2024 — Net Margin sank 1730 bps — and 2025, when it surged 1355 bps.
- dLocal's Net Margin stood at 30.93% in 2021, then plunged by 47 bps to 16.34% in 2022, then fell by 7 bps to 15.17% in 2023, then dropped by 4 bps to 14.52% in 2024, then increased 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 16.69% in Q2 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,576.39 Bn | 3,443.64 Bn | 60.48 Bn | 36.78% |
| 2 | Palantir Technologies | 412.58 Bn | 403.17 Bn | 1.64 Bn | 55.08% |
| 3 | Oracle | 407.66 Bn | 375.77 Bn | - | 30.88% |
| 4 | Palo Alto Networks | 299.27 Bn | 296.16 Bn | 2.03 Bn | -5.90% |
| 5 | Fortinet | 115.83 Bn | 111.76 Bn | 1.64 Bn | 29.55% |
| 6 | Cloudflare | 106.65 Bn | 102.48 Bn | 499.52 Mn | -24.42% |
| 7 | Synopsys | 76.61 Bn | 74.41 Bn | 1.77 Bn | 2.69% |
| 8 | CoreWeave | 51.53 Bn | 45.99 Bn | 1.70 Bn | -24.31% |
| 9 | Block | 47.55 Bn | 41.12 Bn | 3.17 Bn | 1.32% |
| 10 | dLocal | 3.92 Bn | 3.05 Bn | 127.15 Mn | 13.67% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 13.67% |
| Dec 31, 2025 | 16.44% |
| Sep 30, 2025 | 18.35% |
| Jun 30, 2025 | 16.69% |
| 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 | 16.34% |
| 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% |