Mercadolibre (MELI) Gross Margin (2009 - 2026)
Mercadolibre (MELI) posted quarterly Gross Margin of 43.66% for Q1 2026, down 303.0% year-over-year from 21.51% in Q1 2025, and up 1.07% quarter-over-quarter from 43.2% in Q4 2025.
Mercadolibre (MELI) Gross Margin (2009 - 2026) Analysis & Trends
Mercadolibre's Gross Margin history runs 18 years deep, the most recent figure standing at 43.66% for Q1 2026.
- In Q1 2026, Gross Margin fell 303.0% year-over-year to 43.66%; the TTM figure through Mar 2026 stood at 43.86% (down 227.0% YoY), while the FY2025 annual figure was 44.5%, down 159.0% from the prior year.
- Gross Margin for Q1 2026 stood at 43.66%, up from 43.2% in the prior quarter.
- The five-year high for Gross Margin was 53.35% in Q3 2023, with the low at 43.2% in Q4 2025.
- The 5-year median for Gross Margin is 46.69% (2025), against an average of 47.32%.
- The sharpest annual moves came in 2022 and 2024: Gross Margin surged 852 bps in 2022, then sank 743 bps in 2024.
- Mercadolibre's Gross Margin stood at 48.57% in 2022, then dropped by 4 bps to 46.5% in 2023, then decreased by 2 bps to 45.37% in 2024, then fell by 5 bps to 43.2% in 2025, then rose by 1 bps to 43.66% in 2026.
- Business Quant data shows MELI's Gross Margin at 43.66% in Q1 2026, 43.2% in Q4 2025, and 43.31% in Q3 2025.
Powered by 
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Amazon Com | 2,941.98 Bn | 2,819.00 Bn | 198.88 Bn | 52.05% |
| 2 | PDD Holdings | 507.04 Bn | 447.50 Bn | 9.83 Bn | 55.49% |
| 3 | Mercadolibre | 98.18 Bn | 82.98 Bn | 4.16 Bn | 40.90% |
| 4 | DoorDash | 93.31 Bn | 87.97 Bn | 2.35 Bn | 52.69% |
| 5 | JD.com | 87.24 Bn | 58.06 Bn | 7.66 Bn | 16.73% |
| 6 | Sea | 77.74 Bn | 69.22 Bn | 3.15 Bn | 44.32% |
| 7 | Ebay | 47.44 Bn | 44.13 Bn | 2.30 Bn | 73.45% |
| 8 | Coupang | 29.65 Bn | 23.54 Bn | 2.49 Bn | 28.16% |
| 9 | Zkh | 16.36 Bn | 16.36 Bn | 51.11 Mn | 16.68% |
| 10 | Wayfair | 13.69 Bn | 12.55 Bn | 1.05 Bn | 29.95% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 40.90% |
| Mar 31, 2026 | 43.66% |
| Dec 31, 2025 | 43.20% |
| Sep 30, 2025 | 43.31% |
| Jun 30, 2025 | 45.57% |
| Mar 31, 2025 | 46.69% |
| Dec 31, 2024 | 45.37% |
| Sep 30, 2024 | 45.91% |
| Jun 30, 2024 | 46.62% |
| Mar 31, 2024 | 46.71% |
| Dec 31, 2023 | 46.50% |
| Sep 30, 2023 | 53.35% |
| Jun 30, 2023 | 51.07% |
| Mar 31, 2023 | 50.66% |
| Dec 31, 2022 | 48.57% |
| Sep 30, 2022 | 50.11% |
| Jun 30, 2022 | 49.44% |
| Mar 31, 2022 | 47.73% |
| Dec 31, 2021 | 40.05% |
| Sep 30, 2021 | 43.43% |