Coupang
CPNG · Broadline Retail
$13.90
0.6%MercadoLibre
MELI · Broadline Retail
$1,810.15
0.8%The short version
- Coupang is the larger business, with $34.5B of revenue in fiscal 2025 against $28.9B for MercadoLibre.
- MercadoLibre grew revenue faster (39.1%, against 14.1%).
- MercadoLibre kept more of each dollar of sales as operating profit (11.1% operating margin, against 1.4% operating margin).
- MercadoLibre turned more of its sales into free cash flow (37.3% FCF margin, against 1.5% FCF margin).
| Latest fiscal year | CPNG · FY25 | MELI · FY25 |
|---|---|---|
| Size | ||
| Market cap | $25.0B | $91.8B |
| Revenue | $34.5B | $28.9B |
| Free cash flow | $522M | $10.8B |
| Net income | $208M | $2.0B |
| Growth | ||
| Revenue growth | 14.1% | 39.1% |
| 5-year growth | 23.6% | 48.7% |
| Share count change | 1.6% | 0.0% |
| Profitability | ||
| Gross margin | 29.4% | 44.5% |
| Operating margin | 1.4% | 11.1% |
| Net margin | 0.6% | 6.9% |
| FCF margin | 1.5% | 37.3% |
| Return on capital | — | 35.0% |
| Return on equity | 4.8% | 36.0% |
| Balance sheet | ||
| Net debt | −$4.7B | $3.0B |
| Net debt / EBITDA | −4.8x | 0.8x |
| Dividends and buybacks | $243M | $1.0M |
| Valuation & quality | ||
| P/E | — | 49.2x |
| Piotroski F-score | 6 | 4 |
FY16
CPNG —
MELI $844M
FY17
CPNG —
MELI $1.2B
FY18
CPNG —
MELI $1.4B
FY19
CPNG $6.3B
MELI $2.3B
FY20
CPNG $12.0B
MELI $4.0B
FY21
CPNG $18.4B
MELI $7.1B
FY22
CPNG $20.6B
MELI $10.8B
FY23
CPNG $24.4B
MELI $15.1B
FY24
CPNG $30.3B
MELI $20.8B
FY25
CPNG $34.5B
MELI $28.9B
CPNG
MELI
FY16
CPNG —
MELI 21.4%
FY17
CPNG —
MELI 4.6%
FY18
CPNG —
MELI −4.8%
FY19
CPNG −10.2%
MELI −6.7%
FY20
CPNG −4.3%
MELI 3.2%
FY21
CPNG −8.1%
MELI 6.2%
FY22
CPNG −0.5%
MELI 9.9%
FY23
CPNG 1.9%
MELI 14.6%
FY24
CPNG 1.4%
MELI 12.7%
FY25
CPNG 1.4%
MELI 11.1%
CPNG
MELI
FY16
CPNG —
MELI $122M
FY17
CPNG —
MELI $214M
FY18
CPNG —
MELI $138M
FY19
CPNG −$530M
MELI $314M
FY20
CPNG −$183M
MELI $935M
FY21
CPNG −$1.1B
MELI $392M
FY22
CPNG −$259M
MELI $2.5B
FY23
CPNG $1.8B
MELI $4.6B
FY24
CPNG $1.0B
MELI $7.1B
FY25
CPNG $522M
MELI $10.8B
CPNG
MELI
FY16
CPNG —
MELI 51.1%
FY17
CPNG —
MELI 16.0%
FY18
CPNG —
MELI —
FY19
CPNG —
MELI —
FY20
CPNG —
MELI —
FY21
CPNG —
MELI 19.0%
FY22
CPNG —
MELI 32.3%
FY23
CPNG —
MELI 69.1%
FY24
CPNG —
MELI 87.4%
FY25
CPNG —
MELI 35.0%
CPNG
MELI
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.