dLocal (DLO) Operating Margin (2020 - 2025)

dLocal (DLO) has 6 years of Operating Margin data on file, last reported at 18.56% in Q4 2025.

• Operating Margin for Q4 2025 came in at 18.56%, down 211.0% year-over-year; the trailing twelve-month figure through Dec 2025 was 20.11% (up 128.0% YoY), and the FY2025 annual result was 20.11%, up 128.0% from the prior year.
• Operating Margin declined to 18.56% in Q4 2025 per DLO's latest filing, from 19.68% in the prior quarter.
• Over five years, Operating Margin peaked at 46.66% in Q1 2021 and troughed at 14.59% in Q1 2024.
• A 5-year average of 26.69% and a median of 25.52% in 2022 frame the typical range for Operating Margin.
• The sharpest annual moves came in 2024 and 2025: Operating Margin slumped 1408 bps in 2024, then jumped 656 bps in 2025.
• A 5-year view of Operating Margin shows it stood at 32.21% in 2021, then tumbled by 31 bps to 22.38% in 2022, then retreated by 3 bps to 21.81% in 2023, then slipped by 5 bps to 20.67% in 2024, then decreased by 10 bps to 18.56% in 2025.
• Business Quant data shows DLO's Operating Margin at 18.56% in Q4 2025, 19.68% in Q3 2025, and 21.74% in Q2 2025.