Mercadolibre (MELI) Operating Margin (2009 - 2026)
Mercadolibre (MELI) posted Operating Margin of 6.72% for Q2 2026, down 2.77% on a QoQ basis from 6.91% in Q1 2026, and down 543.0% year-over-year from 1.52% in Q2 2025.
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Analysis
Mercadolibre (MELI) Operating Margin (2009 - 2026) Analysis & Trends
Mercadolibre has reported Operating Margin for 18 years, with the latest figure at 6.72% in Q2 2026.
- On a quarterly basis, Operating Margin fell 543.0% year-over-year to 6.72% in Q2 2026; TTM through Jun 2026 was 8.26%, a 404.0% decrease from a year earlier, with the FY2025 full-year figure at 11.08%, down 158.0% from the prior year.
- Operating Margin was 6.72% for Q2 2026 at Mercadolibre, down from 6.91% in the prior quarter.
- The five-year high for Operating Margin was 19.99% in Q3 2023, with the low at 6.18% in Q1 2022.
- Average Operating Margin over 5 years is 11.56%, with a median of 11.58% recorded in 2022.
- The sharpest annual moves came in 2022 and 2024: Operating Margin surged 1166 bps in 2022, then tumbled 950 bps in 2024.
- Over 5 years, Operating Margin stood at 12.79% in 2022, then plunged by 41 bps to 7.6% in 2023, then jumped by 78 bps to 13.53% in 2024, then fell by 25 bps to 10.15% in 2025, then plunged by 34 bps to 6.72% in 2026.
- The last three Operating Margin figures came in at 6.72% (Q2 2026), 6.91% (Q1 2026), and 10.15% (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Alibaba Group Holding | 263.05 Bn | 227.79 Bn | 15.11 Bn | 5.64% |
| 2 | Booking Holdings | 126.16 Bn | 108.94 Bn | 4.98 Bn | 34.00% |
| 3 | PDD Holdings | 112.31 Bn | 82.02 Bn | 9.45 Bn | 24.71% |
| 4 | Airbnb | 98.07 Bn | 86.00 Bn | 2.98 Bn | 21.01% |
| 5 | Mercadolibre | 90.61 Bn | 75.42 Bn | 4.16 Bn | 6.72% |
| 6 | Ebay | 49.77 Bn | 46.46 Bn | 2.30 Bn | 21.57% |
| 7 | Expedia | 31.98 Bn | 24.85 Bn | 3.91 Bn | 18.54% |
| 8 | Maplebear | 10.57 Bn | 9.72 Bn | 751.00 Mn | 13.71% |
| 9 | Full Truck Alliance | 7.59 Bn | 6.63 Bn | - | - |
| 10 | Etsy | 6.70 Bn | 5.58 Bn | 484.05 Mn | 18.74% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 6.72% |
| Mar 31, 2026 | 6.91% |
| Dec 31, 2025 | 10.15% |
| Sep 30, 2025 | 9.77% |
| Jun 30, 2025 | 12.15% |
| Mar 31, 2025 | 12.86% |
| Dec 31, 2024 | 13.53% |
| Sep 30, 2024 | 10.49% |
| Jun 30, 2024 | 14.31% |
| Mar 31, 2024 | 12.19% |
| Dec 31, 2023 | 7.60% |
| Sep 30, 2023 | 19.99% |
| Jun 30, 2023 | 18.66% |
| Mar 31, 2023 | 13.12% |
| Dec 31, 2022 | 12.79% |
| Sep 30, 2022 | 11.00% |
| Jun 30, 2022 | 9.63% |
| Mar 31, 2022 | 6.18% |
| Dec 31, 2021 | 1.13% |
| Sep 30, 2021 | 8.61% |
API Access
Mercadolibre Operating 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=operating-margin&ticker=MELI&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-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=operating-margin&ticker=MELI&period=max&api_key=YOUR_API_KEY");
const data = await res.json();