Added to YB: 2026-05-12
Pitch date: 2026-05-08
MELI [neutral]
MercadoLibre, Inc.
-5.12%
current return
Author Info
No bio for this author
Company Info
MercadoLibre, Inc. operates online commerce platforms in Brazil, Mexico, Argentina, and internationally.
Market Cap
$82.8B
Pitch Price
$1.6K
Price Target
N/A
Dividend
N/A
EV/EBITDA
20.00
P/E
43.11
EV/Sales
2.81
Sector
Broadline Retail
Category
growth
MercadoLibre 1Q26 and the Cost of Being Right
MELI (update): Q1 rev $8.8B (+49% YoY), GMV $19B, TPV $87B, but op income $611M (-20% YoY), op margin 6.9% (vs 10.8% prior). Brazil items sold +56%, unit shipping costs -17% YoY prove logistics density thesis. Ads +63% FX-neutral. Credit portfolio $14.6B (+87% YoY), but NIMAL fell to 17.8% (-490bps). Mgmt says margins 'dialed down' by choice, but competition (Shopee/Temu/Amazon/TikTok) sets floor. Thesis now conditional on who captures surplus: shareholders vs customers/sellers/credit losses.
Read full article (8 min)