Mercadolibre (MELI) Gross Margin (2009 - 2026)
Mercadolibre's Gross Margin came in at 40.90% for Q2 2026, down 4.67 percentage points from 45.57% a year earlier and down 2.76 percentage points from the prior quarter.
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Analysis
Mercadolibre (MELI) Gross Margin (2009 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Mercadolibre reported Gross Margin of 42.68%, down 3.20 percentage points year-over-year; for FY2025, it was 44.50%, down 1.59 percentage points from FY2024.
- Gross Margin carries a five-year change of +1.50 percentage points (FY2020 to FY2025).
- Going back by year, Gross Margin was 46.09% in FY2024 (-4.15 pp), 50.24% in FY2023 (+2.02 pp), 48.22% in FY2022 (+5.71 pp) and 42.51% in FY2021 (-0.49 pp).
- The Q2 2026 figure represents the lowest quarterly Gross Margin since Q4 2021.
- Year-over-year, Gross Margin has declined for 11 consecutive quarters, with an average year-over-year change of -2.76 percentage points over the last eight quarters.
- The fastest year-over-year change in Gross Margin over five years came in Q4 2022 (a gain of 8.52 percentage points), and the weakest in Q3 2024 (a drop of 7.43 percentage points).
- Business Quant data shows MELI's Gross Margin at 43.66% (Q1 2026), 43.20% (Q4 2025) and 43.31% (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,273.02 Bn | 4,030.55 Bn | 73.85 Bn | 61.65% |
| 2 | Meta Platforms | 1,882.67 Bn | 1,585.19 Bn | 49.47 Bn | 81.37% |
| 3 | Netflix | 292.72 Bn | 252.92 Bn | 6.52 Bn | 51.93% |
| 4 | Alibaba Group Holding | 258.66 Bn | 82.26 Bn | 15.11 Bn | 38.11% |
| 5 | Shopify | 221.29 Bn | 198.47 Bn | 1.71 Bn | 47.67% |
| 6 | Uber Technologies | 145.86 Bn | 117.84 Bn | 6.38 Bn | 44.93% |
| 7 | Booking Holdings | 120.48 Bn | 53.53 Bn | - | - |
| 8 | PDD Holdings | 115.79 Bn | -126.92 Bn | 9.45 Bn | 57.06% |
| 9 | Spotify Technology | 108.98 Bn | 66.21 Bn | 1.86 Bn | 33.41% |
| 10 | Mercadolibre | 95.81 Bn | 71.83 Bn | 4.16 Bn | 40.90% |
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();