MercadoLibre, Inc.


SKU: MELI-1 Category:


MercadoLibre delivered an all-around beat in the most recent quarterly result, marking a noteworthy blend of growth and profitability. Demonstrating a remarkable surge in income from operations, the quarter showcased a strong momentum spanning various geographies, particularly in both commerce and fintech sectors. Mexico emerged as a standout performer with a remarkable revenue growth exceeding 60% year-on-year, while Brazil also exhibited commendable performance with a growth rate of approximately 40%. These two countries significantly augmented their contributions to the overall revenue. The commerce sector experienced an acceleration in GMV and items sold growth across the primary geographies of operation during Q3. Enhanced user engagement resulted from continuous improvements in customer experience, especially in logistics, achieving a 48% fulfillment penetration. This, in turn, facilitated better delivery promises, improving conversions and further development of categories through technology. Simultaneously, Mercado Pago witnessed an acceleration in off-platform TPV in key countries. In the payments sector, Q3 showcased strong growth in online payment solutions across the region, aligned with healthy spread levels. Notably, positive trends in NPLs, particularly in Brazil, paved the way for accelerated originations across all products. Furthermore, the company is advancing its partnership with Deezer to introduce Meli+, a comprehensive retail and entertainment subscription service.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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