Mercadolibre (MELI) Gross Margin (2009 - 2026)
Mercadolibre (MELI) posted Gross Margin of 40.9% for Q2 2026, down 6.33% on a QoQ basis from 43.66% in Q1 2026, and down 467.0% year-over-year from 11.14% in Q2 2025.
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Analysis
Mercadolibre (MELI) Gross Margin (2009 - 2026) Analysis & Trends
Mercadolibre has reported Gross Margin for 18 years, with the latest figure at 40.9% in Q2 2026.
- On a quarterly basis, Gross Margin fell 467.0% year-over-year to 40.9% in Q2 2026; TTM through Jun 2026 was 42.68%, a 320.0% decrease from a year earlier, with the FY2025 full-year figure at 44.5%, down 159.0% from the prior year.
- Gross Margin was 40.9% for Q2 2026 at Mercadolibre, down from 43.66% in the prior quarter.
- The five-year high for Gross Margin was 53.35% in Q3 2023, with the low at 40.9% in Q2 2026.
- Average Gross Margin over 5 years is 46.97%, with a median of 46.65% recorded in 2025.
- The sharpest annual moves came in 2022 and 2024: Gross Margin jumped 852 bps in 2022, then sank 743 bps in 2024.
- Over 5 years, Gross Margin 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 fell by 5 bps to 40.9% in 2026.
- The last three Gross Margin figures came in at 40.9% (Q2 2026), 43.66% (Q1 2026), and 43.2% (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Alibaba Group Holding | 263.05 Bn | 227.79 Bn | 15.11 Bn | 38.11% |
| 2 | Booking Holdings | 126.16 Bn | 108.94 Bn | 4.98 Bn | 67.75% |
| 3 | PDD Holdings | 112.31 Bn | 82.02 Bn | 9.45 Bn | 57.06% |
| 4 | Airbnb | 98.07 Bn | 86.00 Bn | 2.98 Bn | 82.46% |
| 5 | Mercadolibre | 90.61 Bn | 75.42 Bn | 4.16 Bn | 40.90% |
| 6 | Ebay | 49.77 Bn | 46.46 Bn | 2.30 Bn | 73.45% |
| 7 | Expedia | 31.98 Bn | 24.85 Bn | 3.91 Bn | 90.66% |
| 8 | Maplebear | 10.57 Bn | 9.72 Bn | 751.00 Mn | 72.00% |
| 9 | Full Truck Alliance | 7.59 Bn | 6.63 Bn | - | - |
| 10 | Etsy | 6.70 Bn | 5.58 Bn | 484.05 Mn | 72.43% |
Historic Data
Download Data
Historic 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% |
API Access
Mercadolibre Gross Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=gross-margin&ticker=MELI&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "ticker": "MELI", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=gross-margin&ticker=MELI&period=max&api_key=YOUR_API_KEY");
const data = await res.json();