TTM
9.6%
YoY change
−1.58pp
Trough year (2002)
-170.6%
Peak year (2012)
34.7%
Latest annual
11.1%
Operating Margin history chart for MercadoLibre (MELI) from 2002 to 2025
Latest: 11.1%
Operating Margin change chart for MercadoLibre (MELI) from 2002 to 2025
Latest: −1.58pp
Operating Margin history table for MercadoLibre (MELI) from 2002 to 2025
| 2025 | 11.1% | -1.58pp | ||
| 2024 | 12.7% | -1.95pp | ||
| 2023 | 14.6% | +4.69pp | ||
| 2022 | 9.9% | +3.68pp | ||
| 2021 | 6.2% | +3.02pp | ||
| 2020 | 3.2% | +9.89pp | ||
| 2019 | -6.7% | -1.84pp | ||
| 2018 | -4.8% | -9.45pp | ||
| 2017 | 4.6% | -16.82pp | ||
| 2016 | 21.4% | +0.09pp | ||
| 2015 | 21.4% | -0.29pp | ||
| 2014 | 21.6% | -10.84pp | ||
| 2013 | 32.5% | -2.22pp | ||
| 2012 | 34.7% | +1.33pp | ||
| 2011 | 33.4% | -1.05pp | ||
| 2010 | 34.4% | +2.00pp | ||
| 2009 | 32.4% | +5.03pp | ||
| 2008 | 27.4% | +1.94pp | ||
| 2007 | 25.4% | +15.08pp | ||
| 2006 | 10.4% | +7.50pp | ||
| 2005 | 2.9% | +29.32pp | ||
| 2004 | -26.4% | +36.05pp | ||
| 2003 | -62.5% | +108.09pp | ||
| 2002 | -170.6% | — |
- 202511.1%-1.58pp
- 202412.7%-1.95pp
- 202314.6%+4.69pp
- 20229.9%+3.68pp
- 20216.2%+3.02pp
- 20203.2%+9.89pp
- 2019-6.7%-1.84pp
- 2018-4.8%-9.45pp
- 20174.6%-16.82pp
- 201621.4%+0.09pp
- 201521.4%-0.29pp
- 201421.6%-10.84pp
- 201332.5%-2.22pp
- 201234.7%+1.33pp
- 201133.4%-1.05pp
- 201034.4%+2.00pp
- 200932.4%+5.03pp
- 200827.4%+1.94pp
- 200725.4%+15.08pp
- 200610.4%+7.50pp
- 20052.9%+29.32pp
- 2004-26.4%+36.05pp
- 2003-62.5%+108.09pp
- 2002-170.6%—
Operating Margin values are taken from MercadoLibre's reported income statements (interim 6-K and annual 20-F filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the filing date. YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
About Operating Margin at MercadoLibre (MELI)
According to MercadoLibre's latest reported financial statements, the company's latest reported operating margin is 9.6%. Operating margin is operating income divided by revenue — the share of each sales dollar left after cost of goods sold and operating expenses (SG&A, R&D), but before interest and taxes. It isolates how profitable the core business is before financing and tax decisions, so it is comparable across companies with different capital structures.
Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .
MercadoLibre (MELI) most recent annual operating margin stands at 11.08% (2025) – contracted 1.6 percentage points year-over-year.
The highest annual operating margin of 34.70% was reported in 2012. The lowest in the available history was -170.59% in 2002.
MercadoLibre Operating Margin by Year
MercadoLibre Operating Margin 2025: 11.1%
MercadoLibre operating margin in 2025 was 11.08%, contracted 1.6 percentage points from 2024.
MercadoLibre Operating Margin 2024: 12.7%
2024's operating margin for MercadoLibre came in at 12.66%, contracted 1.9 percentage points from 2023.
MercadoLibre Operating Margin 2023: 14.6%
MercadoLibre posted operating margin of 14.61% in 2023, expanded 4.7 percentage points from 2022.
MercadoLibre Operating Margin 2022: 9.9%
In 2022, MercadoLibre reported operating margin of 9.92%, expanded 3.7 percentage points from 2021.
MercadoLibre Operating Margin 2021: 6.2%
MercadoLibre operating margin in 2021 was 6.24%.
See more financial history for MercadoLibre (MELI).
Sector peers by Operating Margin
Consumer Cyclical peers of MercadoLibre (MELI), ranked by their latest operating margin
| 46.0% | |
| 34.3% | |
| 22.2% | |
| 12.4% | |
| 12.4% | |
| 11.5% | |
| 5.8% | |
| 5.0% |
- 46.0%
- 22.2%
- 12.4%
- 12.4%
- 11.5%
- 5.8%
- 5.0%
Frequently asked questions
MercadoLibre (MELI) Key Financials
Charts, filings, and peer comparison for every metric
Explore more
Deep-dives across the income statement, cash flow, capital return, and valuation