Mercadolibre (MELI) Operating Margin (2009 - 2026)
Mercadolibre (MELI) recorded Operating Margin of 6.72% in Q2 2026, down 5.43 percentage points from 12.15% a year earlier and down 0.19 percentage points from the prior quarter.
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Analysis
Mercadolibre (MELI) Operating Margin (2009 - 2026) Analysis & Trends
On a TTM basis, Mercadolibre's Operating Margin came in at 8.26% as of Jun 30, 2026, down 4.04 percentage points year-over-year; for FY2025, it was 11.08%, down 1.58 percentage points from FY2024.
- Annual Operating Margin has a five-year change of +7.86 percentage points (FY2020 to FY2025).
- Across earlier years, Operating Margin came in at 12.66% in FY2024 (-1.95 pp), 14.61% in FY2023 (+4.69 pp), 9.92% in FY2022 (+3.68 pp) and 6.24% in FY2021 (+3.02 pp).
- The Q2 2026 figure is the lowest quarterly Operating Margin since Q1 2022.
- On a year-over-year basis, Operating Margin has declined for five consecutive quarters, with an average year-over-year change of -2.57 percentage points over the last eight quarters.
- Peak year-over-year performance for Operating Margin in the last five years was a gain of 11.66 percentage points in Q4 2022, against a drop of 9.50 percentage points in Q3 2024 at the low end.
- Per Business Quant, the preceding three quarters came in at 6.91% (Q1 2026), 10.15% (Q4 2025) and 9.77% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,273.02 Bn | 4,030.55 Bn | 73.85 Bn | 34.03% |
| 2 | Meta Platforms | 1,882.67 Bn | 1,585.19 Bn | 49.47 Bn | 30.88% |
| 3 | Netflix | 292.72 Bn | 252.92 Bn | 6.52 Bn | 33.38% |
| 4 | Alibaba Group Holding | 258.66 Bn | 82.26 Bn | 15.11 Bn | 5.64% |
| 5 | Shopify | 221.29 Bn | 198.47 Bn | 1.71 Bn | 13.62% |
| 6 | Uber Technologies | 145.86 Bn | 117.84 Bn | 6.38 Bn | 13.32% |
| 7 | Booking Holdings | 120.48 Bn | 53.53 Bn | - | 34.00% |
| 8 | PDD Holdings | 115.79 Bn | -126.92 Bn | 9.45 Bn | 24.71% |
| 9 | Spotify Technology | 108.98 Bn | 66.21 Bn | 1.86 Bn | 13.71% |
| 10 | Mercadolibre | 95.81 Bn | 71.83 Bn | 4.16 Bn | 6.72% |
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();