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MercadoLibre, Inc. (MELI) 财务分析 | 估值·财报 | 100Baggers.club

MercadoLibre, Inc.

MELI

MercadoLibre, Inc. operates online commerce platforms in Latin America. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases online; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps. The company also offers Mercado Fondo that allows users to invest funds deposited in their Mercado Pago accounts; Mercado Credito, which extends loans to certain merchants and consumers; and Mercado Envios logistics solution that enables sellers on its platform to utilize third-party carriers and other logistics service providers, as well as fulfillment and warehousing services for sellers. In addition, it provides Mercado Libre Classifieds, an online classified listing service, where users can list and purchase motor vehicles, real estate, and services; Mercado Libre Ads, an advertising platform, which enables large retailers and brands to promote their products and services on the Internet; and Mercado Shops, an online storefronts solution that enables users to set-up, manage, and promote their own digital stores. MercadoLibre, Inc. was incorporated in 1999 and is headquartered in Montevideo, Uruguay.

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📊 估值

关键估值指标

EV/EBITDA (TTM)

i

Enterprise Value, EBITDA and Ratio

EV/EBIT (TTM)

i

Enterprise Value, EBIT and Ratio

EV/Sales (TTM)

i

Enterprise Value, Revenue and Ratio

P/E Ratio (TTM)

i

Market Cap, Net Income and Ratio

P/B Ratio (Quarterly)

i

Market Cap, Book Value and Ratio

FCF Yield (TTM)

i

FCF, Enterprise Value and Yield

PR Profit Ratio (PPM)

i

PE Ratio, ROE and Profit Ratio (PR = PE / ROE)

📈 成长

营收、盈利和每股成长指标

Revenue (Quarterly)

i

Quarterly Revenue

Revenue/Share (Quarterly)

i

Revenue Per Share

Net Income (Quarterly)

i

Quarterly Net Income

EPS (Quarterly)

i

Earnings Per Share

Gross Profit/Share (Quarterly)

i

Gross Profit Per Share

OCF/Share (Quarterly)

i

Operating Cash Flow Per Share

FCF/Share (Quarterly)

i

Free Cash Flow Per Share

Operating Leverage (YoY)

i

Change in Operating Income / Change in Revenue

💰 盈利

利润率和净资产收益率

Gross Margin (TTM)

i

Revenue, Gross Profit and Gross Margin

Operating Margin (TTM)

i

Revenue, Operating Income and Operating Margin

Net Profit Margin (TTM)

i

Revenue, Net Income and Net Profit Margin

ROE (TTM)

i

Equity, Net Income and Return on Equity

ROA (TTM)

i

Assets, Net Income and Return on Assets

ROTCE - Return on Tangible Common Equity (TTM)

i

Net Income, Tangible Common Equity and ROTCE

OCF Margin (TTM)

i

Revenue, Operating Cash Flow and OCF Margin

FCF Margin (TTM)

i

Revenue, Free Cash Flow and FCF Margin

💵 现金质量

现金流质量和转换指标

OCF/NI Ratio (TTM)

i

Operating Cash Flow, Net Income and Ratio

FCF/NI Ratio (TTM)

i

Free Cash Flow, Net Income and Ratio

OCF/Capex (TTM)

i

Operating Cash Flow, Capex and Coverage Ratio

OCF/SBC (TTM)

i

Operating Cash Flow, SBC and Coverage Ratio

🛡️ 财务韧性

债务、流动性和财务健康度

Debt/Equity (quarterly)

i

Total Debt, Total Equity and Debt/Equity Ratio

EBITDA/Net Debt (TTM)

i

EBITDA, Net Debt and Coverage Ratio

Interest Coverage (TTM)

i

EBIT, Interest Expense and Coverage Ratio

Current Ratio (quarterly)

i

Current Assets, Current Liabilities and Current Ratio

Quick Ratio (quarterly)

i

Quick Assets, Current Liabilities and Quick Ratio

Altman Z-Score

i

Financial Distress Prediction Model

⚙️ 运营与资本效率

资产利用率、营运资本、ROIC和资本效率

ROIC (TTM)

i

NOPAT, Invested Capital and Return on Invested Capital

ROCE - Return on Capital Employed (TTM)

i

EBIT, Capital Employed and Return on Capital Employed

Asset Turnover (TTM)

i

Revenue, Total Assets and Turnover Ratio

CapEx/Depreciation - Investment Intensity (TTM)

i

CapEx, Depreciation and Ratio (>1=Expansion, <1=Contraction)

R&D/Gross Profit - R&D Intensity (TTM)

i

R&D Expenses, Gross Profit and Ratio

SG&A/Revenue - SG&A Efficiency (TTM)

i

SG&A Expenses, Revenue and Ratio

Cash Conversion Cycle (TTM)

i

DSO + DIO - DPO (in days)

DSO - Days Sales Outstanding (TTM)

i

Average Receivables and Days Sales Outstanding

DIO - Days Inventory Outstanding (TTM)

i

Average Inventory and Days Inventory Outstanding

DPO - Days Payables Outstanding (TTM)

i

Average Payables and Days Payables Outstanding

Goodwill/Assets (Quarterly)

i

Goodwill as % of Total Assets

🎁 股东回报

股息、股票回购、稀释和内部人交易活动

Dividend Yield (TTM)

i

Dividend Per Share, Share Price and Dividend Yield

Buyback Yield (TTM)

i

Net Buyback and Buyback Yield

Buyback Yield (3 Years)

i

Net Buyback 3Y and Buyback Yield 3Y

Dilution Rate (1 Year)

i

Current Shares, 1Y Ago Shares and Dilution Rate

Dilution Rate (3 Years)

i

Current Shares, 3Y Ago Shares and Dilution Rate

SBC Offset Rate (TTM)

i

Buyback / Stock-Based Comp and SBC Ratio

Insider Activity Rate (TTM)

i

Insider Net Buying and Activity Rate

利润瀑布图分析

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P

盈利能力指标

Gross Profit Margini毛利率

43.20%

毛利润 = $3.78B

营业收入 = $8.76B

Operating Profit Margini营业利润率

10.15%

营业利润 = $0.89B

营业收入 = $8.76B

EBITDA MarginiEBITDA利润率

12.10%

EBITDA = $1.06B

营业收入 = $8.76B

EBIT MarginiEBIT利润率

9.38%

EBIT = $0.78B

营业收入 = $8.76B

Net Profit Margini净利率

6.38%

净利润 = $0.56B

营业收入 = $8.76B

Pretax Profit Margini税前利润率

8.95%

税前利润 = $0.78B

营业收入 = $8.76B

E

运营效率指标

Interest Coveragei利息保障倍数

17.53x

EBIT (TTM) = $2.60B

利息费用 (TTM) = $0.15B

15.7x

17.0x

17.6x

16.4x

17.5x

SG&A / Revenuei销管费率

26.38%

销售及管理费用 = $2.31B

营业收入 = $8.76B

R&D / Revenuei研发占比

6.67%

研发费用 = $0.58B

营业收入 = $8.76B

R

回报率指标 (TTM)

ROAi总资产回报率

5.89%

净利润 = $2.00B

平均总资产 = $33.93B

ROEi净资产收益率

35.99%

净利润 = $2.00B

平均股东权益 = $5.55B

ROICi投入资本回报率

42.01%

NOPAT (TTM) = $2.66B

平均投入资本 = $6.33B

(NOPAT = 营业利润 × (1 - 有效税率))

(平均投入资本 = (本期IC + 去年同期IC) / 2)

Revenue Growthi营收增长率

44.56%

当期营收 = $8.76B

去年同期营收 = $6.06B

+37.4%

+37.0%

+33.9%

+39.5%

+44.6%

Operating Cash Flow/Sharei每股经营现金流

$225.37

经营现金流 = $11.43B

流通股数 = 0.05B

$150.42

$146.69

$157.80

$180.30

$225.37

综合分析

利润表项目	同比增长	当季数据	趋势
营业收入	+44.6%	$8.76B	↑
毛利	+37.7%	$3.78B, 43.20%	↑
营业利润	+8.4%	$0.89B, 10.15%	↑
EBITDA	+10.1%	$1.06B, 12.10%	↑
税前利润	+2.8%	$0.78B, 8.95%	↑
净利润	-12.5%	$0.56B, 6.38%	↓
稀释每股收益	-12.5%	11.03	↓

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L

流动性指标

Current Ratioi流动比率

1.17

正常

流动资产 = $33.57B

流动负债 = $28.63B

Quick Ratioi速动比率

1.15

健康

速动资产 = $33.00B

流动负债 = $28.63B

Cash Ratioi现金比率

0.22

正常

现金及等价物 = $6.30B

流动负债 = $28.63B

Cash Ratio = (Cash + Short-term Investments) / Current Liabilities

L

杠杆指标

Debt to Equityi债务权益比

1.69

关注

总债务 = $2.42B

总权益 = $6.75B

Liabilities to Assetsi资产负债率 (总负债)

84.2%

关注

总负债 = $35.92B

总资产 = $42.67B

Equity Multiplieri权益乘数

6.32

关注

总资产 = $42.67B

总权益 = $6.75B

E

效率指标

Asset Turnoveri总资产周转率

0.85

正常

营收 (TTM) = $28.89B

平均总资产 = $33.93B

Inventory Turnoveri存货周转率

29.10

健康

营业成本 (TTM) = $16.04B

平均存货 = $0.62B

Receivables Turnoveri应收账款周转率

2.62

关注

营收 (TTM) = $28.89B

平均应收账款 = $3.82B

S

偿债能力

Interest Coveragei利息保障倍数

17.53

健康

EBIT (TTM) = $2.60B

利息费用 (TTM) = $0.15B

Net Debt to EBITDAi净债务/EBITDA

2.27

正常

净债务 = $7.72B

EBITDA (TTM) = $3.40B

Debt Service Coveragei偿债覆盖率

2.47

健康

经营现金流 (TTM) = $11.43B

债务偿付 = $4.62B

V

价值指标

Goodwill %i商誉占比

0.4%

健康

商誉 = $0.16B

总资产 = $42.67B

Working Capital Ratioi营运资本比率

0.12

正常

营运资本 = $4.94B

总资产 = $42.67B

现金流瀑布图

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流入

流出

小计

起止点

C

现金流指标

经营现金流 TTMi

$11.43B

自由现金流 TTMi

$10.46B

FCF = OCF - CapEx

经营现金流 (TTM) = $11.43B

资本支出 (TTM) = $-0.97B

自由现金流收益率i

9.94%

关注

FCF (TTM) = $10.46B

市值 = $105.17B

经营现金流/销售比i

39.55%

健康

经营现金流 (TTM) = $11.43B

营业收入 (TTM) = $28.89B

Q

质量与覆盖指标

收益质量i

5.72x

健康

经营现金流 (TTM) = $11.43B

净利润 (TTM) = $2.00B

现金流/债务比i

1.00x

健康

经营现金流 (TTM) = $11.43B

总负债 = $11.39B

短期覆盖率i

0.40x

关注

经营现金流 (TTM) = $11.43B

流动负债 = $28.63B

资本支出覆盖率i

11.80x

健康

经营现金流 (TTM) = $11.43B

资本支出 (TTM) = $0.97B

E

效率指标

⚡ 比率按USD计算，去除汇率影响

自由/经营现金流比i

91.53%

健康

自由现金流 (TTM) = $10.46B

经营现金流 (TTM) = $11.43B

资本支出/营收比i

3.35%

健康

资本支出 (TTM) = $0.97B

营业收入 (TTM) = $28.89B

净债务/EBITDAi

2.27

正常

净债务 = $7.72B

EBITDA (TTM) = $3.40B

G

增长指标

经营现金流增长率i

78.15%

健康

当期OCF (TTM) = $5.21B

上期OCF = $2.92B

股东盈余i

$1.85B

健康

净利润 (TTM) = $2.00B

+ 折旧摊销 (TTM) = $0.82B

- 资本支出 (TTM) = $-0.97B