Mercadolibre (MELI) Operating Margin (2009 - 2026)
Mercadolibre's quarterly Operating Margin came in at 6.91% in Q1 2026, down 595.0% year-on-year from 1.4% in Q1 2025, and down 31.94% quarter-over-quarter from 10.15% in Q4 2025.
Mercadolibre has reported Operating Margin for 18 years, with the latest figure at 6.91% in Q1 2026.
- For the quarter ending Q1 2026, Operating Margin fell 595.0% year-over-year to 6.91%; the trailing twelve-month figure through Mar 2026 stood at 9.59% (down 322.0% YoY), and the FY2025 full-year result was 11.08%, down 158.0% from the prior year.
- Operating Margin for Q1 2026 stood at 6.91%, down from 10.15% 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 11.84%, with a median of 12.15% recorded in 2025.
- Year-over-year, Operating Margin soared 1166 bps in 2022 and plunged 950 bps in 2024.
- Tracing MELI's Operating Margin over 5 years: 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 32 bps to 6.91% in 2026.
- The last three Operating Margin figures came in at 6.91% (Q1 2026), 10.15% (Q4 2025), and 9.77% (Q3 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Amazon Com | 2,861.08 Bn | 2,717.99 Bn | 171.21 Bn | 13.14% |
| 2 | Alibaba Group Holding | 348.49 Bn | 315.38 Bn | 12.18 Bn | -0.35% |
| 3 | Mercadolibre | 84.38 Bn | 78.73 Bn | 3.86 Bn | 6.91% |
| 4 | DoorDash | 69.78 Bn | 64.91 Bn | 2.04 Bn | 3.74% |
| 5 | Ebay | 51.86 Bn | 48.00 Bn | 2.29 Bn | 19.78% |
| 6 | Coupang | 29.42 Bn | 29.33 Bn | 2.30 Bn | -2.85% |
| 7 | Maplebear | 9.86 Bn | 9.17 Bn | 738.00 Mn | 17.86% |
| 8 | Wayfair | 8.79 Bn | 7.72 Bn | 880.00 Mn | -0.38% |
| 9 | Chewy | 8.58 Bn | 7.71 Bn | 959.70 Mn | 1.30% |
| 10 | Etsy | 6.00 Bn | 4.58 Bn | 455.60 Mn | 18.98% |
Historic Data
Download Data| Date | Value |
|---|---|
| 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% |
| Jun 30, 2021 | 9.75% |
| Mar 31, 2021 | 6.60% |
| Dec 31, 2020 | -1.87% |
| Sep 30, 2020 | 7.44% |
| Jun 30, 2020 | 11.33% |
| Mar 31, 2020 | -4.55% |
| Dec 31, 2019 | -10.22% |
| Sep 30, 2019 | -13.59% |
| Jun 30, 2019 | -2.29% |
| Mar 31, 2019 | 2.14% |
| Dec 31, 2018 | -0.19% |
| Sep 30, 2018 | -3.10% |
| Jun 30, 2018 | -8.42% |
| Mar 31, 2018 | -9.17% |
| Dec 31, 2017 | -18.04% |
| Sep 30, 2017 | 9.03% |
| Jun 30, 2017 | 10.58% |
| Mar 31, 2017 | 23.48% |
| Dec 31, 2016 | 25.24% |
| Sep 30, 2016 | 23.27% |
| Jun 30, 2016 | 16.12% |
| Mar 31, 2016 | 19.34% |
| Dec 31, 2015 | 18.64% |
| Sep 30, 2015 | 26.85% |
| Jun 30, 2015 | 22.45% |
| Mar 31, 2015 | 17.28% |
| Dec 31, 2014 | 28.03% |
| Sep 30, 2014 | 31.87% |
| Jun 30, 2014 | -4.48% |
| Mar 31, 2014 | 29.47% |
| Dec 31, 2013 | 38.71% |
| Sep 30, 2013 | 30.39% |
| Jun 30, 2013 | 31.60% |
| Mar 31, 2013 | 27.81% |
| Dec 31, 2012 | 37.71% |
| Sep 30, 2012 | 34.66% |
| Jun 30, 2012 | 35.89% |
| Mar 31, 2012 | 29.77% |
| Dec 31, 2011 | 33.50% |
| Sep 30, 2011 | 36.71% |
| Jun 30, 2011 | 31.06% |
| Mar 31, 2011 | 31.39% |
| Dec 31, 2010 | 33.65% |
| Sep 30, 2010 | 34.51% |
| Jun 30, 2010 | 35.83% |
| Mar 31, 2010 | 127.09% |
| Dec 31, 2009 | 36.46% |
| Sep 30, 2009 | 37.52% |
| Jun 30, 2009 | 30.35% |