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Side-by-side financial comparison of MERCADOLIBRE INC (MELI) and Wayfair Inc. (W), based on the latest 10-Q / 10-K filings. Click either name above to swap in a different company.
MERCADOLIBRE INC is the larger business by last-quarter revenue ($6.1B vs $3.3B, roughly 1.8× Wayfair Inc.). MERCADOLIBRE INC runs the higher net margin — 9.1% vs -3.5%, a 12.6% gap on every dollar of revenue. On growth, MERCADOLIBRE INC posted the faster year-over-year revenue change (40.2% vs 6.9%). MERCADOLIBRE INC produced more free cash flow last quarter ($4.8B vs $177.0M). Over the past eight quarters, MERCADOLIBRE INC's revenue compounded faster (40.7% CAGR vs 10.6%).
MercadoLibre, Inc., known as Mercado Livre in Brazil, literally meaning "free market" in both languages, is a company of Argentine origin and incorporated in Delaware in the United States that operates online marketplaces dedicated to e-commerce and online auctions. As of 2016, Mercado Libre had 174.2 million users in Latin America, making it the region's most popular e-commerce site by number of visitors.
Wayfair Inc. is an American e-commerce company based in Boston, Massachusetts that sells furniture and home goods online. Formerly known as CSN Stores, it was founded in 2002, and currently offers 14 million items from more than 11,000 global suppliers. The company maintains international operations, including locations in North America and in Canada, Germany, Ireland, China and the United Kingdom.
MELI vs W — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $6.1B | $3.3B |
| Net Profit | $559.0M | $-116.0M |
| Gross Margin | 61.7% | 30.3% |
| Operating Margin | 14.5% | 2.5% |
| Net Margin | 9.1% | -3.5% |
| Revenue YoY | 40.2% | 6.9% |
| Net Profit YoY | -12.5% | 9.4% |
| EPS (diluted) | $11.03 | $-0.90 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align — see 8-quarter trend below.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history — bar widths are scaled to the larger of the two companies so you can eyeball the size gap and growth trajectory without doing math. Quarters aligned by calendar period (report date) so offset fiscal years line up.
| Q4 25 | $6.1B | $3.3B | ||
| Q3 25 | $5.2B | $3.1B | ||
| Q2 25 | $4.8B | $3.3B | ||
| Q1 25 | $4.2B | $2.7B | ||
| Q4 24 | $4.4B | $3.1B | ||
| Q3 24 | $3.9B | $2.9B | ||
| Q2 24 | $3.8B | $3.1B | ||
| Q1 24 | $3.1B | $2.7B |
| Q4 25 | $559.0M | $-116.0M | ||
| Q3 25 | $421.0M | $-99.0M | ||
| Q2 25 | $523.0M | $15.0M | ||
| Q1 25 | $494.0M | $-113.0M | ||
| Q4 24 | $639.0M | $-128.0M | ||
| Q3 24 | $397.0M | $-74.0M | ||
| Q2 24 | $531.0M | $-42.0M | ||
| Q1 24 | $344.0M | $-248.0M |
| Q4 25 | 61.7% | 30.3% | ||
| Q3 25 | 61.7% | 30.0% | ||
| Q2 25 | 64.4% | 30.1% | ||
| Q1 25 | 66.1% | 30.7% | ||
| Q4 24 | 62.8% | 30.2% | ||
| Q3 24 | 62.6% | 30.3% | ||
| Q2 24 | 62.8% | 30.2% | ||
| Q1 24 | 65.3% | 30.0% |
| Q4 25 | 14.5% | 2.5% | ||
| Q3 25 | 13.9% | 1.2% | ||
| Q2 25 | 17.2% | 0.5% | ||
| Q1 25 | 18.2% | -4.5% | ||
| Q4 24 | 18.7% | -3.7% | ||
| Q3 24 | 14.3% | -2.6% | ||
| Q2 24 | 19.3% | -1.1% | ||
| Q1 24 | 17.0% | -8.6% |
| Q4 25 | 9.1% | -3.5% | ||
| Q3 25 | 8.1% | -3.2% | ||
| Q2 25 | 10.9% | 0.5% | ||
| Q1 25 | 11.8% | -4.1% | ||
| Q4 24 | 14.6% | -4.1% | ||
| Q3 24 | 10.2% | -2.6% | ||
| Q2 24 | 14.1% | -1.3% | ||
| Q1 24 | 11.1% | -9.1% |
| Q4 25 | $11.03 | $-0.90 | ||
| Q3 25 | $8.32 | $-0.76 | ||
| Q2 25 | $10.31 | $0.11 | ||
| Q1 25 | $9.74 | $-0.89 | ||
| Q4 24 | $12.60 | $-1.01 | ||
| Q3 24 | $7.83 | $-0.60 | ||
| Q2 24 | $10.48 | $-0.34 | ||
| Q1 24 | $6.78 | $-2.06 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest filing — the kind of financial-strength check premium terminals charge for.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $6.3B | $1.5B |
| Total DebtLower is stronger | $4.6B | $3.3B |
| Stockholders' EquityBook value | $6.7B | $-2.8B |
| Total Assets | $42.7B | $3.4B |
| Debt / EquityLower = less leverage | 0.68× | — |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q4 25 | $6.3B | $1.5B | ||
| Q3 25 | $6.3B | $1.2B | ||
| Q2 25 | $7.6B | $1.4B | ||
| Q1 25 | $8.1B | $1.4B | ||
| Q4 24 | $7.1B | $1.4B | ||
| Q3 24 | $6.7B | $1.3B | ||
| Q2 24 | $6.9B | $1.3B | ||
| Q1 24 | $6.3B | $1.2B |
| Q4 25 | $4.6B | $3.3B | ||
| Q3 25 | $3.4B | $2.9B | ||
| Q2 25 | $3.5B | $3.0B | ||
| Q1 25 | $2.9B | $3.2B | ||
| Q4 24 | $2.9B | $3.1B | ||
| Q3 24 | $3.1B | $3.2B | ||
| Q2 24 | $2.4B | $3.2B | ||
| Q1 24 | $2.2B | $3.2B |
| Q4 25 | $6.7B | $-2.8B | ||
| Q3 25 | $6.2B | $-2.8B | ||
| Q2 25 | $5.7B | $-2.7B | ||
| Q1 25 | $5.0B | $-2.8B | ||
| Q4 24 | $4.4B | $-2.8B | ||
| Q3 24 | $4.0B | $-2.7B | ||
| Q2 24 | $3.7B | $-2.8B | ||
| Q1 24 | $3.4B | $-2.8B |
| Q4 25 | $42.7B | $3.4B | ||
| Q3 25 | $36.7B | $3.1B | ||
| Q2 25 | $32.9B | $3.3B | ||
| Q1 25 | $27.7B | $3.4B | ||
| Q4 24 | $25.2B | $3.5B | ||
| Q3 24 | $22.6B | $3.4B | ||
| Q2 24 | $20.0B | $3.4B | ||
| Q1 24 | $19.1B | $3.2B |
| Q4 25 | 0.68× | — | ||
| Q3 25 | 0.55× | — | ||
| Q2 25 | 0.61× | — | ||
| Q1 25 | 0.57× | — | ||
| Q4 24 | 0.66× | — | ||
| Q3 24 | 0.78× | — | ||
| Q2 24 | 0.67× | — | ||
| Q1 24 | 0.66× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Net income can be massaged; cash flow is harder to fake.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $5.2B | $202.0M |
| Free Cash FlowOCF − Capex | $4.8B | $177.0M |
| FCF MarginFCF / Revenue | 77.9% | 5.3% |
| Capex IntensityCapex / Revenue; lower = less reinvestment burden | 7.0% | 0.7% |
| Cash ConversionOCF / Net Profit; >1× = earnings back up with cash | 9.32× | — |
| TTM Free Cash FlowTrailing 4 quarters | $10.8B | $464.0M |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q4 25 | $5.2B | $202.0M | ||
| Q3 25 | $3.0B | $155.0M | ||
| Q2 25 | $2.9B | $273.0M | ||
| Q1 25 | $1.0B | $-96.0M | ||
| Q4 24 | $2.9B | $162.0M | ||
| Q3 24 | $1.6B | $49.0M | ||
| Q2 24 | $1.9B | $245.0M | ||
| Q1 24 | $1.5B | $-139.0M |
| Q4 25 | $4.8B | $177.0M | ||
| Q3 25 | $2.6B | $128.0M | ||
| Q2 25 | $2.6B | $260.0M | ||
| Q1 25 | $759.0M | $-101.0M | ||
| Q4 24 | $2.6B | $142.0M | ||
| Q3 24 | $1.4B | $32.0M | ||
| Q2 24 | $1.7B | $222.0M | ||
| Q1 24 | $1.4B | $-152.0M |
| Q4 25 | 77.9% | 5.3% | ||
| Q3 25 | 50.0% | 4.1% | ||
| Q2 25 | 54.8% | 7.9% | ||
| Q1 25 | 18.1% | -3.7% | ||
| Q4 24 | 59.8% | 4.5% | ||
| Q3 24 | 35.4% | 1.1% | ||
| Q2 24 | 45.1% | 7.1% | ||
| Q1 24 | 44.1% | -5.6% |
| Q4 25 | 7.0% | 0.7% | ||
| Q3 25 | 6.9% | 0.9% | ||
| Q2 25 | 6.0% | 0.4% | ||
| Q1 25 | 6.5% | 0.2% | ||
| Q4 24 | 7.0% | 0.6% | ||
| Q3 24 | 5.7% | 0.6% | ||
| Q2 24 | 4.9% | 0.7% | ||
| Q1 24 | 4.7% | 0.5% |
| Q4 25 | 9.32× | — | ||
| Q3 25 | 7.03× | — | ||
| Q2 25 | 5.58× | 18.20× | ||
| Q1 25 | 2.09× | — | ||
| Q4 24 | 4.58× | — | ||
| Q3 24 | 4.03× | — | ||
| Q2 24 | 3.54× | — | ||
| Q1 24 | 4.40× | — |
Financial Flow Comparison
Sankey diagram of revenue → gross profit → operating profit → net profit for each company. Charts shown full-width and stacked so both segment hierarchies are readable side-by-side on desktop and mobile.
Revenue Breakdown by Segment
MELI
| Commerce | $2.8B | 45% |
| Argentina Segment | $1.6B | 26% |
| Products | $1.2B | 20% |
| Other Countries Segment | $414.0M | 7% |
W
| US Segment | $2.9B | 88% |
| International Segment | $395.0M | 12% |
