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美客多（MELI）与Ross Stores（ROST）财务数据对比。点击上方公司名可切换其他公司
美客多的季度营收约是Ross Stores的1.1倍（$6.1B vs $5.6B），Ross Stores净利率更高（9.1% vs 9.1%，领先0.0%），美客多同比增速更快（40.2% vs 10.4%），美客多自由现金流更多（$4.8B vs $617.8M），过去两年美客多的营收复合增速更高（40.7% vs -3.6%）
美客多（Mercado Libre）是起源于阿根廷、在美国特拉华州注册的互联网企业，核心业务涵盖电商平台运营及在线拍卖服务，是拉丁美洲头部电商平台。截至2016年，其在拉美地区拥有1.742亿用户，是当地访问量最高的电商站点。
Ross Stores, Inc.是美国知名折扣百货连锁集团，旗下核心品牌为Ross Dress for Less，总部位于加利福尼亚州都柏林，是美国规模最大的平价零售商。截至2024年7月，集团在全美43个州、华盛顿特区、波多黎各及关岛共运营1795家门店，暂未覆盖新英格兰地区及阿拉斯加，另拥有门店数超353家的折扣零售品牌DD's Discounts。
MELI vs ROST — 直观对比
营收规模更大
MELI
是对方的1.1倍
$5.6B
营收增速更快
MELI
高出29.7%
10.4%
净利率更高
ROST
高出0.0%
9.1%
自由现金流更多
MELI
多$4.2B
$617.8M
两年增速更快
MELI
近两年复合增速
-3.6%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $6.1B | $5.6B |
| 净利润 | $559.0M | $511.9M |
| 毛利率 | 61.7% | 28.0% |
| 营业利润率 | 14.5% | 11.6% |
| 净利率 | 9.1% | 9.1% |
| 营收同比 | 40.2% | 10.4% |
| 净利润同比 | -12.5% | 4.7% |
| 每股收益（稀释后） | $11.03 | $1.58 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收MELIROST
| Q4 25 | $6.1B | $5.6B | ||
| Q3 25 | $5.2B | $5.5B | ||
| Q2 25 | $4.8B | $5.0B | ||
| Q1 25 | $4.2B | $5.9B | ||
| Q4 24 | $4.4B | $5.1B | ||
| Q3 24 | $3.9B | $5.3B | ||
| Q2 24 | $3.8B | $4.9B | ||
| Q1 24 | $3.1B | $6.0B |
净利润MELIROST
| Q4 25 | $559.0M | $511.9M | ||
| Q3 25 | $421.0M | $508.0M | ||
| Q2 25 | $523.0M | $479.2M | ||
| Q1 25 | $494.0M | $586.8M | ||
| Q4 24 | $639.0M | $488.8M | ||
| Q3 24 | $397.0M | $527.1M | ||
| Q2 24 | $531.0M | $488.0M | ||
| Q1 24 | $344.0M | $609.7M |
毛利率MELIROST
| Q4 25 | 61.7% | 28.0% | ||
| Q3 25 | 61.7% | 27.6% | ||
| Q2 25 | 64.4% | 28.2% | ||
| Q1 25 | 66.1% | 26.5% | ||
| Q4 24 | 62.8% | 28.3% | ||
| Q3 24 | 62.6% | 28.3% | ||
| Q2 24 | 62.8% | 28.1% | ||
| Q1 24 | 65.3% | 27.3% |
营业利润率MELIROST
| Q4 25 | 14.5% | 11.6% | ||
| Q3 25 | 13.9% | 11.5% | ||
| Q2 25 | 17.2% | 12.2% | ||
| Q1 25 | 18.2% | 12.4% | ||
| Q4 24 | 18.7% | 11.9% | ||
| Q3 24 | 14.3% | 12.5% | ||
| Q2 24 | 19.3% | 12.2% | ||
| Q1 24 | 17.0% | 13.2% |
净利率MELIROST
| Q4 25 | 9.1% | 9.1% | ||
| Q3 25 | 8.1% | 9.2% | ||
| Q2 25 | 10.9% | 9.6% | ||
| Q1 25 | 11.8% | 9.9% | ||
| Q4 24 | 14.6% | 9.6% | ||
| Q3 24 | 10.2% | 10.0% | ||
| Q2 24 | 14.1% | 10.0% | ||
| Q1 24 | 11.1% | 10.1% |
每股收益（稀释后）MELIROST
| Q4 25 | $11.03 | $1.58 | ||
| Q3 25 | $8.32 | $1.56 | ||
| Q2 25 | $10.31 | $1.47 | ||
| Q1 25 | $9.74 | $1.79 | ||
| Q4 24 | $12.60 | $1.48 | ||
| Q3 24 | $7.83 | $1.59 | ||
| Q2 24 | $10.48 | $1.46 | ||
| Q1 24 | $6.78 | $1.82 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $6.3B | $4.1B |
| 总债务越低越好 | $4.6B | $1.5B |
| 股东权益账面价值 | $6.7B | $5.9B |
| 总资产 | $42.7B | $15.4B |
| 负债/权益比越低杠杆越低 | 0.68× | 0.26× |
8季度趋势，按日历期对齐
现金及短期投资MELIROST
| Q4 25 | $6.3B | $4.1B | ||
| Q3 25 | $6.3B | $3.8B | ||
| Q2 25 | $7.6B | $3.8B | ||
| Q1 25 | $8.1B | $4.7B | ||
| Q4 24 | $7.1B | $4.3B | ||
| Q3 24 | $6.7B | $4.7B | ||
| Q2 24 | $6.9B | $4.7B | ||
| Q1 24 | $6.3B | $4.9B |
总债务MELIROST
| Q4 25 | $4.6B | $1.5B | ||
| Q3 25 | $3.4B | $1.5B | ||
| Q2 25 | $3.5B | $1.5B | ||
| Q1 25 | $2.9B | $2.2B | ||
| Q4 24 | $2.9B | $2.2B | ||
| Q3 24 | $3.1B | $2.5B | ||
| Q2 24 | $2.4B | $2.5B | ||
| Q1 24 | $2.2B | $2.5B |
股东权益MELIROST
| Q4 25 | $6.7B | $5.9B | ||
| Q3 25 | $6.2B | $5.7B | ||
| Q2 25 | $5.7B | $5.6B | ||
| Q1 25 | $5.0B | $5.5B | ||
| Q4 24 | $4.4B | $5.3B | ||
| Q3 24 | $4.0B | $5.1B | ||
| Q2 24 | $3.7B | $4.9B | ||
| Q1 24 | $3.4B | $4.9B |
总资产MELIROST
| Q4 25 | $42.7B | $15.4B | ||
| Q3 25 | $36.7B | $14.5B | ||
| Q2 25 | $32.9B | $14.3B | ||
| Q1 25 | $27.7B | $14.9B | ||
| Q4 24 | $25.2B | $14.9B | ||
| Q3 24 | $22.6B | $14.7B | ||
| Q2 24 | $20.0B | $14.5B | ||
| Q1 24 | $19.1B | $14.3B |
负债/权益比MELIROST
| Q4 25 | 0.68× | 0.26× | ||
| Q3 25 | 0.55× | 0.26× | ||
| Q2 25 | 0.61× | 0.27× | ||
| Q1 25 | 0.57× | 0.40× | ||
| Q4 24 | 0.66× | 0.42× | ||
| Q3 24 | 0.78× | 0.48× | ||
| Q2 24 | 0.67× | 0.50× | ||
| Q1 24 | 0.66× | 0.51× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $5.2B | $827.1M |
| 自由现金流经营现金流 - 资本支出 | $4.8B | $617.8M |
| 自由现金流率自由现金流/营收 | 77.9% | 11.0% |
| 资本支出强度资本支出/营收 | 7.0% | 3.7% |
| 现金转化率经营现金流/净利润 | 9.32× | 1.62× |
| 过去12个月自由现金流最近4个季度 | $10.8B | $2.0B |
8季度趋势，按日历期对齐
经营现金流MELIROST
| Q4 25 | $5.2B | $827.1M | ||
| Q3 25 | $3.0B | $668.4M | ||
| Q2 25 | $2.9B | $409.7M | ||
| Q1 25 | $1.0B | $882.6M | ||
| Q4 24 | $2.9B | $513.4M | ||
| Q3 24 | $1.6B | $592.1M | ||
| Q2 24 | $1.9B | $368.9M | ||
| Q1 24 | $1.5B | $948.8M |
自由现金流MELIROST
| Q4 25 | $4.8B | $617.8M | ||
| Q3 25 | $2.6B | $466.6M | ||
| Q2 25 | $2.6B | $202.3M | ||
| Q1 25 | $759.0M | $676.6M | ||
| Q4 24 | $2.6B | $333.0M | ||
| Q3 24 | $1.4B | $394.6M | ||
| Q2 24 | $1.7B | $232.7M | ||
| Q1 24 | $1.4B | $726.4M |
自由现金流率MELIROST
| Q4 25 | 77.9% | 11.0% | ||
| Q3 25 | 50.0% | 8.4% | ||
| Q2 25 | 54.8% | 4.1% | ||
| Q1 25 | 18.1% | 11.4% | ||
| Q4 24 | 59.8% | 6.6% | ||
| Q3 24 | 35.4% | 7.5% | ||
| Q2 24 | 45.1% | 4.8% | ||
| Q1 24 | 44.1% | 12.1% |
资本支出强度MELIROST
| Q4 25 | 7.0% | 3.7% | ||
| Q3 25 | 6.9% | 3.6% | ||
| Q2 25 | 6.0% | 4.2% | ||
| Q1 25 | 6.5% | 3.5% | ||
| Q4 24 | 7.0% | 3.6% | ||
| Q3 24 | 5.7% | 3.7% | ||
| Q2 24 | 4.9% | 2.8% | ||
| Q1 24 | 4.7% | 3.7% |
现金转化率MELIROST
| Q4 25 | 9.32× | 1.62× | ||
| Q3 25 | 7.03× | 1.32× | ||
| Q2 25 | 5.58× | 0.85× | ||
| Q1 25 | 2.09× | 1.50× | ||
| Q4 24 | 4.58× | 1.05× | ||
| Q3 24 | 4.03× | 1.12× | ||
| Q2 24 | 3.54× | 0.76× | ||
| Q1 24 | 4.40× | 1.56× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
MELI
| Commerce | $2.8B | 45% |
| Argentina Segment | $1.6B | 26% |
| Products | $1.2B | 20% |
| Other Countries Segment | $414.0M | 7% |
ROST
暂无分部数据
