Over the past 27 consecutive quarters, MercadoLibre has delivered year-over-year revenue growth of at least 30%, driving its trailing-12-month revenues to $26 billion—an over 1,500% increase since 2018. In Q3 2025 alone, the platform added 4 million new active buyers, bringing the total to 77 million, while items sold jumped 39% year-over-year. Advertising revenues have surged as well, accelerating from 41% growth to 63% growth over the last four quarters, now comprising a meaningful contributor to overall gross margins.

Despite investor concerns after the decision to lower the free-shipping threshold in Brazil, MercadoLibre has reduced shipping expenses per item sold in that market by 8% quarter-over-quarter in Q3 2025. This improvement reflects expanded robotics deployment in fulfillment centers and enhanced network utilization rates. These efficiencies help offset the cost of free shipping and bolster long-term adoption rates, strengthening the company’s competitive moat in a region with underpenetrated e-commerce infrastructure.

MercadoLibre’s financial services arm now serves 72 million active monthly users, up 29% year-over-year, through credit cards, lending and digital payments. The segment has maintained healthy unit economics, contributing to a total of $7.7 billion in trailing-12-month operating cash flow. With a current market capitalization of $110 billion, the business trades at roughly 14 times operating cash flow—well below peers such as Amazon, which trades near 20 times. Given MercadoLibre’s faster growth and extended runway in Latin America, this valuation gap underscores a potential upside scenario of tripling shareholder value over the next decade.