MercadoLibre, Inc.

MELI · Technology · $92.4B mkt cap · FY2025 filings · Narrow moat

On the watchlist

Narrow moat

The four filters

Pricing power85

Median gross margin 61.2% over 10y, stable.

Returns on capital66

Median ROIC 14.9%, above the 9% hurdle in 67% of years.

Balance-sheet safety81

Net debt/EBITDA 1.4x, no material interest expense disclosed.

Capital discipline60

Owner earnings +34.7%/yr, share count growing (dilution).

Margin of safety

Above valueOn sale

412% above value

Owner earnings (normalized): $1.0B
Est. intrinsic value / share: $355.76
Recent price: $1823.22
Discount to value: 412% above value

Conservative model: 9% discount rate, 4% assumed growth (capped at 4%), maintenance capex ≈ min(capex, D&A).

Moat Score history

Score history begins 2026-07-17. Check back as the record builds.

Scores are logged append-only and never overwritten — this record can't be backfilled, which is exactly why it's worth keeping.

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Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell MELI. See the disclaimer.