MercadoLibre Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	1,997	1,911	987	482	83
Depreciation & Amortization	818	617	524	403	204
Loss (Gain) on Equity Investments	-	-	-3	-	9
Stock-Based Compensation	303	261	167	84	89
Provision & Write-off of Bad Debts	3,091	1,858	1,050	1,073	435
Other Operating Activities	-16	80	620	487	146
Change in Accounts Receivable	-1,508	-2,687	-1,413	-71	-26
Change in Inventory	-235	-113	-69	114	-142
Change in Accounts Payable	1,487	1,595	1,225	449	380
Change in Other Net Operating Assets	6,179	4,396	2,052	-81	-213
Operating Cash Flow	12,116	7,918	5,140	2,940	965
Operating Cash Flow Growth	53.02%	54.05%	74.83%	204.66%	-18.36%
Capital Expenditures	-1,343	-860	-509	-455	-573
Cash Acquisitions	-	-6	-	-	-51
Sale (Purchase) of Intangibles	75	-	-	-	-36
Investment in Securities	1,836	-2,748	-836	-1,671	425
Other Investing Activities	-88	15	-58	-44	-14
Investing Cash Flow	-6,179	-8,287	-3,450	-3,871	-1,597
Long-Term Debt Issued	44,050	19,472	24,963	17,017	9,262
Long-Term Debt Repaid	-41,145	-17,512	-24,874	-15,953	-8,667
Net Debt Issued (Repaid)	2,905	1,960	89	1,064	595
Issuance of Common Stock	-	-	-	-	1,520
Repurchase of Common Stock	-1	-1	-356	-148	-486
Other Financing Activities	-	-	-	-	296
Financing Cash Flow	2,904	1,959	-267	916	1,925
Foreign Exchange Rate Adjustments	-3	-739	-938	-270	-153
Net Cash Flow	8,838	851	485	-285	1,140
Free Cash Flow	10,773	7,058	4,631	2,485	392
Free Cash Flow Growth	52.63%	52.41%	86.36%	533.93%	-58.07%
Free Cash Flow Margin	37.29%	33.97%	30.65%	23.05%	5.54%
Free Cash Flow Per Share	212.50	139.22	90.79	48.41	7.87
Cash Interest Paid	611	456	608	247	58
Cash Income Tax Paid	1,013	1,052	651	437	282
Levered Free Cash Flow	-2,455	1,491	3,670	-97.75	-1,204
Unlevered Free Cash Flow	-2,355	1,594	3,778	-13.38	-1,103
Change in Working Capital	5,923	3,191	1,795	411	-1

Source: S&P Global Market Intelligence. Standard template. Financial Sources.