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Side-by-side financial comparison of dLocal Ltd (DLO) and loanDepot, Inc. (LDI). Click either name above to swap in a different company.
dLocal Ltd is the larger business by last-quarter revenue ($337.9M vs $310.3M, roughly 1.1× loanDepot, Inc.). dLocal Ltd runs the higher net margin — 16.5% vs -7.2%, a 23.7% gap on every dollar of revenue. On growth, dLocal Ltd posted the faster year-over-year revenue change (65.2% vs 20.5%). dLocal Ltd produced more free cash flow last quarter ($99.8M vs $-648.0M).
dLocal Limited is a Uruguayan financial technology company. It provides cross-border payments connecting global merchants to emerging markets.
LoanDepot, sometimes stylized as loanDepot, is an Irvine, California-based nonbank holding company which sells mortgage and non-mortgage lending products.
DLO vs LDI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $337.9M | $310.3M |
| Net Profit | $55.6M | $-22.5M |
| Gross Margin | 34.3% | — |
| Operating Margin | 18.6% | -10.3% |
| Net Margin | 16.5% | -7.2% |
| Revenue YoY | 65.2% | 20.5% |
| Net Profit YoY | 87.3% | 32.4% |
| EPS (diluted) | $0.18 | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $337.9M | $310.3M | ||
| Q3 25 | $282.5M | $323.3M | ||
| Q2 25 | — | $282.5M | ||
| Q1 25 | — | $273.6M | ||
| Q4 24 | $204.5M | $257.5M | ||
| Q3 24 | $185.8M | $314.6M | ||
| Q2 24 | — | $265.4M | ||
| Q1 24 | — | $222.8M |
| Q4 25 | $55.6M | $-22.5M | ||
| Q3 25 | $141.3M | $-4.9M | ||
| Q2 25 | — | $-13.4M | ||
| Q1 25 | — | $-21.9M | ||
| Q4 24 | $29.7M | $-33.2M | ||
| Q3 24 | $90.8M | $1.4M | ||
| Q2 24 | — | $-32.2M | ||
| Q1 24 | — | $-34.3M |
| Q4 25 | 34.3% | — | ||
| Q3 25 | 36.5% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 40.9% | — | ||
| Q3 24 | 42.1% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 18.6% | -10.3% | ||
| Q3 25 | 19.7% | -3.2% | ||
| Q2 25 | — | -11.4% | ||
| Q1 25 | — | -16.8% | ||
| Q4 24 | 20.7% | -32.7% | ||
| Q3 24 | 22.1% | 1.1% | ||
| Q2 24 | — | -29.1% | ||
| Q1 24 | — | -38.2% |
| Q4 25 | 16.5% | -7.2% | ||
| Q3 25 | 50.0% | -1.5% | ||
| Q2 25 | — | -4.7% | ||
| Q1 25 | — | -8.0% | ||
| Q4 24 | 14.5% | -12.9% | ||
| Q3 24 | 48.9% | 0.4% | ||
| Q2 24 | — | -12.1% | ||
| Q1 24 | — | -15.4% |
| Q4 25 | $0.18 | — | ||
| Q3 25 | $0.17 | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $0.09 | — | ||
| Q3 24 | $0.09 | $0.01 | ||
| Q2 24 | — | $-0.18 | ||
| Q1 24 | — | $-0.19 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $719.9M | $337.2M |
| Total DebtLower is stronger | $86.7M | $2.1B |
| Stockholders' EquityBook value | $569.4M | $386.0M |
| Total Assets | $1.5B | $6.9B |
| Debt / EquityLower = less leverage | 0.15× | 5.44× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $719.9M | $337.2M | ||
| Q3 25 | $604.5M | $459.2M | ||
| Q2 25 | — | $408.6M | ||
| Q1 25 | — | $371.5M | ||
| Q4 24 | $425.2M | $421.6M | ||
| Q3 24 | $560.5M | $483.0M | ||
| Q2 24 | — | $533.2M | ||
| Q1 24 | — | $603.7M |
| Q4 25 | $86.7M | $2.1B | ||
| Q3 25 | $63.1M | $2.1B | ||
| Q2 25 | — | $2.1B | ||
| Q1 25 | — | $2.0B | ||
| Q4 24 | $39.8M | $2.0B | ||
| Q3 24 | — | $2.0B | ||
| Q2 24 | — | $2.0B | ||
| Q1 24 | — | $2.3B |
| Q4 25 | $569.4M | $386.0M | ||
| Q3 25 | $504.7M | $433.3M | ||
| Q2 25 | — | $439.1M | ||
| Q1 25 | — | $469.3M | ||
| Q4 24 | $489.0M | $506.6M | ||
| Q3 24 | $457.0M | $592.0M | ||
| Q2 24 | — | $578.9M | ||
| Q1 24 | — | $637.3M |
| Q4 25 | $1.5B | $6.9B | ||
| Q3 25 | $1.4B | $6.2B | ||
| Q2 25 | — | $6.2B | ||
| Q1 25 | — | $6.4B | ||
| Q4 24 | $1.2B | $6.3B | ||
| Q3 24 | — | $6.4B | ||
| Q2 24 | — | $5.9B | ||
| Q1 24 | — | $6.2B |
| Q4 25 | 0.15× | 5.44× | ||
| Q3 25 | 0.12× | 4.83× | ||
| Q2 25 | — | 4.70× | ||
| Q1 25 | — | 4.30× | ||
| Q4 24 | 0.08× | 4.00× | ||
| Q3 24 | — | 3.31× | ||
| Q2 24 | — | 3.41× | ||
| Q1 24 | — | 3.63× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $100.4M | $-638.7M |
| Free Cash FlowOCF − Capex | $99.8M | $-648.0M |
| FCF MarginFCF / Revenue | 29.5% | -208.9% |
| Capex IntensityCapex / Revenue | 0.2% | 3.0% |
| Cash ConversionOCF / Net Profit | 1.80× | — |
| TTM Free Cash FlowTrailing 4 quarters | $378.7M | $-734.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $100.4M | $-638.7M | ||
| Q3 25 | $315.0M | $43.4M | ||
| Q2 25 | — | $67.6M | ||
| Q1 25 | — | $-179.9M | ||
| Q4 24 | $-141.1M | $47.7M | ||
| Q3 24 | $108.3M | $-349.2M | ||
| Q2 24 | — | $-278.3M | ||
| Q1 24 | — | $-278.5M |
| Q4 25 | $99.8M | $-648.0M | ||
| Q3 25 | $313.4M | $38.7M | ||
| Q2 25 | — | $61.4M | ||
| Q1 25 | — | $-186.7M | ||
| Q4 24 | $-141.6M | $40.8M | ||
| Q3 24 | $107.1M | $-356.4M | ||
| Q2 24 | — | $-285.7M | ||
| Q1 24 | — | $-283.3M |
| Q4 25 | 29.5% | -208.9% | ||
| Q3 25 | 110.9% | 12.0% | ||
| Q2 25 | — | 21.7% | ||
| Q1 25 | — | -68.2% | ||
| Q4 24 | -69.2% | 15.8% | ||
| Q3 24 | 57.6% | -113.3% | ||
| Q2 24 | — | -107.7% | ||
| Q1 24 | — | -127.2% |
| Q4 25 | 0.2% | 3.0% | ||
| Q3 25 | 0.6% | 1.5% | ||
| Q2 25 | — | 2.2% | ||
| Q1 25 | — | 2.5% | ||
| Q4 24 | 0.2% | 2.7% | ||
| Q3 24 | 0.7% | 2.3% | ||
| Q2 24 | — | 2.8% | ||
| Q1 24 | — | 2.1% |
| Q4 25 | 1.80× | — | ||
| Q3 25 | 2.23× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -4.75× | — | ||
| Q3 24 | 1.19× | -255.05× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
