dLocal Ltd
DLO Nasdaq· Services-Business Services, Nec
Last close · Nov 9, 2026
$14.39
Latest quarter · Q4 '25 results quarter ended Dec 31, 2025 · vs Q4 '24
| Line | Q4 '24 | Q4 '25 | Change (y/y) |
|---|---|---|---|
| Revenue | $204M | $338M | 65.2% |
| Net income | $29.7M | $55.5M | 87.1% |
| Operating margin | 20.7% | 18.6% | 2.1 pts |
| Free cash flow | −$142M | $99.8M | — |
Key numbers, fiscal 2025
Market cap
$4.3B
P/E
22.1x
Revenue
$1.1B
Net income
$197M
Free cash flow
$413M
Operating margin
20.1%
dLocal Ltd in 30 seconds fiscal 2025
Are sales growing?
+46.6%
Yes. Sales grew 46.6% last year.
Does it make a profit?
18.0%
Yes. It keeps 18.0% of every sale as profit.
Does profit turn into cash?
37.8%
Yes. 37.8% of sales ends up as free cash.
Is debt under control?
Net cash
Yes. It has more cash than debt.
How healthy are the accounts?
6 / 9
Mixed. It passes 6 of 9 health tests.
How is the share priced?
22.1x
One share costs 22.1 times its yearly profit per share.
What dLocal Ltd does
No business description yet.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 20-F · Mar 18, 2026
- Legal name
- dLocal Ltd
- CIK
- 0001846832
dLocal Ltd · DLO · stoqly.net
Results and finances
The last 5 fiscal years. Amounts in USD. Compiled by stoqly.net.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $244M | $419M | $650M | $746M | $1.1B |
| Revenue growth | 134.4% | 71.6% | 55.2% | 14.7% | 46.6% |
| Gross margin | 53.4% | 48.3% | 42.6% | 39.5% | 36.8% |
| Operating margin | 34.3% | 30.5% | 27.6% | 18.8% | 20.1% |
| Net income | $77.9M | $109M | $149M | $120M | $197M |
| Net margin | 31.9% | 25.9% | 22.9% | 16.1% | 18.0% |
| Diluted EPS | $0.25 | $0.35 | $0.49 | $0.39 | $0.65 |
| Cash | |||||
| Cash from operations | $108M | $154M | $293M | −$32.8M | $415M |
| Capital expenditure | $1.9M | $1.0M | $1.0M | $1.7M | $2.3M |
| Free cash flow | $107M | $153M | $292M | −$34.5M | $413M |
| FCF margin | 43.6% | 36.6% | 45.0% | −4.6% | 37.8% |
| Dividends paid | — | — | $0.0M | $0.0M | $150M |
| Share buybacks | — | $2.0M | $97.9M | $101M | — |
| Share count change | 8.5% | 1.4% | −3.3% | 0.7% | −1.1% |
| Debt and strength | |||||
| Cash and short-term investments | $336M | $468M | $536M | $425M | $720M |
| Debt incl. finance leases | $5.0M | — | $0.0M | $39.8M | $86.7M |
| Shareholders' equity | $280M | $400M | $455M | $489M | $569M |
| Net debt / EBITDA | −3.7x | — | −2.8x | −2.4x | −2.6x |
| Current ratio | 1.8x | 1.8x | 1.6x | 1.6x | 1.5x |
| Interest coverage | 154.1x | 5.2x | 1.5x | 2.8x | 7.9x |
| Returns and quality | |||||
| Return on capital | — | — | — | 108.3% | — |
| Return on equity | 47.9% | 32.0% | 34.9% | 25.5% | 37.2% |
| Return on tangible equity | 33.4% | 31.2% | 37.5% | 28.3% | 39.7% |
| Piotroski F-score | 4 | 5 | 6 | 2 | 6 |
| Altman Z'' | 5.2 | 5.6 | 5.3 | 5.1 | 4.6 |
Insider trades 12 months
Insiders bought, 12 months
$0.2M
1 insider
Insiders sold, 12 months
$16.2M
1 insider
Of sales under plans
100%
$16.2M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
dLocal Ltd · DLO · stoqly.net
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
Compiled and analysed by stoqly.net from SEC EDGAR XBRL filings (CIK 0001846832). Latest version: stoqly.net/companies/dlo. Data updated November 9, 2026. For information only — not investment advice. Check the original filings before relying on any figure.