MercadoLibre

MELI

Specialty Retail · Consumer Cyclical

Price

$1813.91

-43.51 (-2.34%)

Market Cap

$91.96B

Exchange

NASDAQ

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Share count rising — dilution

+1.8% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 49.8M (2021) → 50.7M (2025)

MercadoLibre, Inc. operates online commerce platforms in Latin America. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases online; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows u

Winston Score History

Politician Trades

18 trades / 12mo

13 Congressional buys and 5 sells on MELI in the last 12 months.

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Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+44.6% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

-12.5% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$2.3B/ year

↑ Rising (+17% vs prior year)

7.9% of revenue

2.0x the sector average (4%)

R&D investment increasing — building for the future

Insider Activity

7.2%ownership

→ Flat

Insiders holding steady — not selling despite ability to

Cash Position

Cash flow positive

$3.7B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

MercadoLibre grew revenue 45% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

43.2%

Healthy — 43.2% gross margin

Operating Margin

10.1%

Modest — 10.1% operating margin

ROCE

5.6%

Weak — 5.6% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales YoY

+39.1%

Fast-growing sales (39.1% YoY)

EPS YoY

+4.5%

Modest earnings growth (4.5% YoY)

Single-digit earnings growth — steady but not exciting.

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Cash Conversion

568%

Turns 568% of profit into real cash

FCF Margin

35.0%

Converts sales into free cash efficiently (35.0%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

Debt / Equity

1.36

Elevated debt (1.36)

Interest Cover

21.63x

Comfortably covers interest (21.6x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

P/E Ratio (TTM)

46.1x

Expensive — P/E 46.1

P/E over 35. The market is pricing in heavy, sustained growth.

P/E vs Forward

+23.1

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (46.1 → 22.9)

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Dividends

Not applicable for this business.

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