Mercadolibre (MELI) Operating Expenses (2009 - 2026)
Mercadolibre's Operating Expenses was $3.48 billion in Q2 2026, up 53.2% from $2.27 billion a year earlier and up 6.9% from the prior quarter.
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Analysis
Mercadolibre (MELI) Operating Expenses (2009 - 2026) Analysis & Trends
On a trailing twelve-month basis, Mercadolibre's Operating Expenses was $12.11 billion through Jun 30, 2026, up 49.7% year-over-year; for FY2025, it came in at $9.66 billion, up 39.0% from FY2024.
- Operating Expenses has now increased for 16 consecutive years, with a five-year compound annual growth rate of 43.6% (FY2020 to FY2025).
- In earlier years, Operating Expenses was $6.95 billion in FY2024 (+29.0%), $5.38 billion in FY2023 (+30.4%), $4.13 billion in FY2022 (+61.0%) and $2.56 billion in FY2021 (+62.2%).
- The Q2 2026 figure marks the highest quarterly Operating Expenses in data going back to Q2 2009.
- Compared with a year earlier, Operating Expenses has increased for 30 straight quarters, with growth averaging 40.8% over the last eight quarters.
- The year-over-year growth in Operating Expenses has ranged between 12.4% (Q2 2023) and 86.8% (Q1 2022) over the last five years.
- Per Business Quant data, MELI's Operating Expenses in the three quarters before Q2 2026 was $3.25 billion (Q1 2026), $2.9 billion (Q4 2025) and $2.49 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,273.02 Bn | 4,030.55 Bn | 73.85 Bn | 79.03 Bn |
| 2 | Meta Platforms | 1,882.67 Bn | 1,585.19 Bn | 49.47 Bn | 42.03 Bn |
| 3 | Netflix | 292.72 Bn | 252.92 Bn | 6.52 Bn | 1.51 Bn |
| 4 | Alibaba Group Holding | 258.66 Bn | 82.26 Bn | 15.11 Bn | -5.17 Bn |
| 5 | Shopify | 221.29 Bn | 198.47 Bn | 1.71 Bn | 1.22 Bn |
| 6 | Uber Technologies | 145.86 Bn | 117.84 Bn | 6.38 Bn | 12.30 Bn |
| 7 | Booking Holdings | 120.48 Bn | 53.53 Bn | - | 4.85 Bn |
| 8 | PDD Holdings | 115.79 Bn | -126.92 Bn | 9.45 Bn | -5.39 Bn |
| 9 | Spotify Technology | 108.98 Bn | 66.21 Bn | 1.86 Bn | 640.46 Mn |
| 10 | Mercadolibre | 95.81 Bn | 71.83 Bn | 4.16 Bn | 3.48 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 3.48 Bn |
| Mar 31, 2026 | 3.25 Bn |
| Dec 31, 2025 | 2.90 Bn |
| Sep 30, 2025 | 2.49 Bn |
| Jun 30, 2025 | 2.27 Bn |
| Mar 31, 2025 | 2.01 Bn |
| Dec 31, 2024 | 1.93 Bn |
| Sep 30, 2024 | 1.88 Bn |
| Jun 30, 2024 | 1.64 Bn |
| Mar 31, 2024 | 1.50 Bn |
| Dec 31, 2023 | 1.72 Bn |
| Sep 30, 2023 | 1.31 Bn |
| Jun 30, 2023 | 1.16 Bn |
| Mar 31, 2023 | 1.20 Bn |
| Dec 31, 2022 | 1.11 Bn |
| Sep 30, 2022 | 1.05 Bn |
| Jun 30, 2022 | 1.03 Bn |
| Mar 31, 2022 | 934.00 Mn |
| Dec 31, 2021 | 829.00 Mn |
| Sep 30, 2021 | 647.00 Mn |
API Access
Mercadolibre Operating Expenses 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=operating-expenses&ticker=MELI&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "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=operating-expenses&ticker=MELI&period=max&api_key=YOUR_API_KEY");
const data = await res.json();