Mercadolibre (MELI) Gross Margin (2009 - 2026)
Mercadolibre's quarterly Gross Margin came in at 43.66% in Q1 2026, down 303.0% year-on-year from 21.51% in Q1 2025, and up 1.07% quarter-over-quarter from 43.2% in Q4 2025.
Mercadolibre has reported Gross Margin for 18 years, with the latest figure at 43.66% in Q1 2026.
- For the quarter ending Q1 2026, Gross Margin fell 303.0% year-over-year to 43.66%; the trailing twelve-month figure through Mar 2026 stood at 43.86% (down 227.0% YoY), and the FY2025 full-year result 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.
- Average Gross Margin over 5 years is 47.32%, with a median of 46.69% recorded in 2025.
- Year-over-year, Gross Margin surged 852 bps in 2022 and slumped 743 bps in 2024.
- Tracing MELI's Gross Margin over 5 years: stood at 48.57% in 2022, then fell by 4 bps to 46.5% in 2023, then dropped by 2 bps to 45.37% in 2024, then decreased by 5 bps to 43.2% in 2025, then advanced by 1 bps to 43.66% in 2026.
- The last three Gross Margin figures came in at 43.66% (Q1 2026), 43.2% (Q4 2025), and 43.31% (Q3 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Amazon Com | 2,861.08 Bn | 2,717.99 Bn | 171.21 Bn | 94.32% |
| 2 | Alibaba Group Holding | 348.49 Bn | 315.38 Bn | 12.18 Bn | 34.51% |
| 3 | Mercadolibre | 84.38 Bn | 78.73 Bn | 3.86 Bn | 43.66% |
| 4 | DoorDash | 69.78 Bn | 64.91 Bn | 2.04 Bn | 50.64% |
| 5 | Ebay | 51.86 Bn | 48.00 Bn | 2.29 Bn | 74.04% |
| 6 | Coupang | 29.42 Bn | 29.33 Bn | 2.30 Bn | 27.01% |
| 7 | Maplebear | 9.86 Bn | 9.17 Bn | 738.00 Mn | 72.42% |
| 8 | Wayfair | 8.79 Bn | 7.72 Bn | 880.00 Mn | 30.02% |
| 9 | Chewy | 8.58 Bn | 7.71 Bn | 959.70 Mn | 29.40% |
| 10 | Etsy | 6.00 Bn | 4.58 Bn | 455.60 Mn | 72.17% |
Historic Data
Download Data| Date | Value |
|---|---|
| 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% |
| Jun 30, 2021 | 44.27% |
| Mar 31, 2021 | 42.89% |
| Dec 31, 2020 | 36.82% |
| Sep 30, 2020 | 43.01% |
| Jun 30, 2020 | 48.63% |
| Mar 31, 2020 | 48.01% |
| Dec 31, 2019 | 45.73% |
| Sep 30, 2019 | 47.15% |
| Jun 30, 2019 | 49.96% |
| Mar 31, 2019 | 50.03% |
| Dec 31, 2018 | 47.84% |
| Sep 30, 2018 | 47.77% |
| Jun 30, 2018 | 47.63% |
| Mar 31, 2018 | 50.71% |
| Dec 31, 2017 | 56.80% |
| Sep 30, 2017 | 57.66% |
| Jun 30, 2017 | 60.43% |
| Mar 31, 2017 | 62.61% |
| Dec 31, 2016 | 63.50% |
| Sep 30, 2016 | 63.09% |
| Jun 30, 2016 | 63.26% |
| Mar 31, 2016 | 64.82% |
| Dec 31, 2015 | 65.05% |
| Sep 30, 2015 | 66.31% |
| Jun 30, 2015 | 67.40% |
| Mar 31, 2015 | 69.81% |
| Dec 31, 2014 | 70.46% |
| Sep 30, 2014 | 70.66% |
| Jun 30, 2014 | 72.41% |
| Mar 31, 2014 | 72.67% |
| Dec 31, 2013 | 73.11% |
| Sep 30, 2013 | 72.25% |
| Jun 30, 2013 | 72.30% |
| Mar 31, 2013 | 72.11% |
| Dec 31, 2012 | 73.59% |
| Sep 30, 2012 | 73.58% |
| Jun 30, 2012 | 73.11% |
| Mar 31, 2012 | 74.81% |
| Dec 31, 2011 | 76.03% |
| Sep 30, 2011 | 75.42% |
| Jun 30, 2011 | 75.58% |
| Mar 31, 2011 | 76.68% |
| Dec 31, 2010 | 77.86% |
| Sep 30, 2010 | 79.53% |
| Jun 30, 2010 | 78.27% |
| Mar 31, 2010 | 295.47% |
| Dec 31, 2009 | 78.91% |
| Sep 30, 2009 | 79.46% |
| Jun 30, 2009 | 78.99% |