Macy's vs MercadoLibre
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The short version
- MercadoLibre is the larger business, with $28.9B of revenue in fiscal 2025 against $22.6B for Macy's.
- MercadoLibre grew revenue faster (39.1%, against −1.7%).
- MercadoLibre kept more of each dollar of sales as operating profit (11.1% operating margin, against 4.6%).
- MercadoLibre turned more of its sales into free cash flow (37.3% FCF margin, against 4.7%).
- MercadoLibre earned a higher return on the capital invested in it (35.0%, against 12.9%).
- Investors pay more for each dollar of MercadoLibre’s earnings: a P/E of 49.2x against 8.8x for Macy's.
| Latest fiscal year | M · FY25 | MELI · FY25 |
|---|---|---|
| Size | ||
| Market cap | $6.6B | $91.8B |
| Revenue | $22.6B | $28.9B |
| Free cash flow | $1.1B | $10.8B |
| Net income | $642M | $2.0B |
| Growth | ||
| Revenue growth | −1.7% | 39.1% |
| 5-year growth | 5.5% | 48.7% |
| Share count change | −1.8% | 0.0% |
| Profitability | ||
| Gross margin | 40.3% | 44.5% |
| Operating margin | 4.6% | 11.1% |
| Net margin | 2.8% | 6.9% |
| FCF margin | 4.7% | 37.3% |
| Return on capital | 12.9% | 35.0% |
| Return on equity | 13.6% | 36.0% |
| Balance sheet | ||
| Net debt | $1.2B | $3.0B |
| Net debt / EBITDA | 0.6x | 0.8x |
| Dividends and buybacks | $447M | $1.0M |
| Valuation & quality | ||
| P/E | 8.8x | 49.2x |
| Piotroski F-score | 8 | 4 |
Revenue
FY16
M $25.9B
MELI $844M
FY17
M $24.9B
MELI $1.2B
FY18
M $25.0B
MELI $1.4B
FY19
M $24.6B
MELI $2.3B
FY20
M $17.3B
MELI $4.0B
FY21
M $25.4B
MELI $7.1B
FY22
M $25.4B
MELI $10.8B
FY23
M $23.9B
MELI $15.1B
FY24
M $23.0B
MELI $20.8B
FY25
M $22.6B
MELI $28.9B
M
MELI
Operating margin
FY16
M 5.3%
MELI 21.4%
FY17
M 7.5%
MELI 4.6%
FY18
M 7.0%
MELI −4.8%
FY19
M 4.0%
MELI −6.7%
FY20
M −25.8%
MELI 3.2%
FY21
M 9.3%
MELI 6.2%
FY22
M 6.6%
MELI 9.9%
FY23
M 1.3%
MELI 14.6%
FY24
M 4.0%
MELI 12.7%
FY25
M 4.6%
MELI 11.1%
M
MELI
Free cash flow
FY16
M $1.2B
MELI $122M
FY17
M $1.5B
MELI $214M
FY18
M $1.1B
MELI $138M
FY19
M $706M
MELI $314M
FY20
M $311M
MELI $935M
FY21
M $2.4B
MELI $392M
FY22
M $727M
MELI $2.5B
FY23
M $674M
MELI $4.6B
FY24
M $760M
MELI $7.1B
FY25
M $1.1B
MELI $10.8B
M
MELI
Return on capital
FY16
M 9.1%
MELI 51.1%
FY17
M 19.1%
MELI 16.0%
FY18
M 13.6%
MELI —
FY19
M 7.7%
MELI —
FY20
M −45.3%
MELI —
FY21
M 33.1%
MELI 19.0%
FY22
M 23.0%
MELI 32.3%
FY23
M 4.9%
MELI 69.1%
FY24
M 11.5%
MELI 87.4%
FY25
M 12.9%
MELI 35.0%
M
MELI
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.