Mercado Libre’s Investor Relations podcast ‘‘Inside Mercado Libre’’ released an episode featuring Andy Anavi, Senior VP of Fintech Services, and Richard Cathcart, Investor Relations Director. Anavi outlined the transformation of Mercado Pago from a basic payments wallet into a full-service digital bank, noting that the platform now serves 72 million active users across Brazil, Mexico and Argentina. He highlighted Mercado Pago’s leading Net Promoter Score in those three countries and detailed plans to leverage large language models in underwriting and personalized advisory, aiming to capture stronger signals from transaction, credit and behavioral data.

Over the past two years, Mercado Libre has increased its e-commerce and fintech transaction take rate from 18.4% to 25.2% in Q3 2025, driven by higher-value payment services and a broader lending portfolio. Active buyers expanded 26% year-over-year in the same quarter, reflecting deeper engagement through Mercado Pago’s loyalty tools and credit offerings. Management emphasized the concept of ‘‘principality,’’ or becoming the primary financial relationship, to boost cross-sell ratios and average revenue per user.

Analysts estimate normalized free cash flow of approximately $4.5 billion for Mercado Libre in fiscal 2025, translating into a P/Normalized FCF multiple near 24. While the stock has experienced volatility due to macroeconomic swings, consensus models point to intrinsic value materially above current levels when accounting for Latin America’s high growth potential. Investors are watching capital allocation closely; the company has committed over $1 billion in technology infrastructure investments this year to support AI enhancements and regional expansion.