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Mercadolibre vs PDD: revenue, profit, margins and growth compared

Mercadolibre brought in $28.9B of revenue in fiscal 2025, PDD $61.8B in fiscal 2025. Revenue changed by +39.1% at Mercadolibre and +14.5% at PDD on the year before, so Mercadolibre grew faster. Mercadolibre kept 6.9% of its revenue as net profit, PDD 22.7%.

Open the MELI pageOpen the PDD page

Side by side, latest fiscal year

MELIPDD
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$28.9B$61.8B
Revenue growth+39.1%+14.5%
Net income$2B$14B
Net margin6.9%22.7%
Free cash flow$10.8Bn/a
Free cash flow margin37.3%n/a
Earnings per share (diluted)$39.40$2.36
Cash$3.7B$15.6B
Debt$9.2Bn/a
Price to earnings44.5n/a
Market value$88.9B$110.4B
Dividend yieldn/an/a
Rank by revenue in sector#35 of 778 · Consumer discretionary#14 of 778 · Consumer discretionary

Over the years

Revenue
MELI FY2018: $1.4BMELI FY2019: $2.3BMELI FY2020: $4BMELI FY2021: $7.1BMELI FY2022: $10.8BMELI FY2023: $15.1BMELI FY2024: $20.8BMELI FY2025: $28.9BPDD FY2018: $1.9BPDD FY2019: $4.3BPDD FY2020: $9.1BPDD FY2020: $14.7BPDD FY2022: $18.9BPDD FY2023: $34.9BPDD FY2024: $54BPDD FY2025: $61.8BFY18FY19FY20FY21FY22FY23FY24FY25
MELI $28.9BPDD $61.8B
Net income
MELI FY2018: -$36.6MMELI FY2019: -$172MMELI FY2020: -$1MMELI FY2021: $83MMELI FY2022: $482MMELI FY2023: $987MMELI FY2024: $1.9BMELI FY2025: $2BPDD FY2018: -$1.5BPDD FY2019: -$1BPDD FY2020: -$1.1BPDD FY2020: $1.2BPDD FY2022: $4.6BPDD FY2023: $8.5BPDD FY2024: $15.4BPDD FY2025: $14BFY18FY19FY20FY21FY22FY23FY24FY25
MELI $2BPDD $14B
Net margin
MELI FY2018: -2.5%MELI FY2019: -7.5%MELI FY2020: -0.0%MELI FY2021: 1.2%MELI FY2022: 4.5%MELI FY2023: 6.5%MELI FY2024: 9.2%MELI FY2025: 6.9%PDD FY2018: -77.9%PDD FY2019: -23.1%PDD FY2020: -12.1%PDD FY2020: 8.3%PDD FY2022: 24.2%PDD FY2023: 24.2%PDD FY2024: 28.5%PDD FY2025: 22.7%FY18FY19FY20FY21FY22FY23FY24FY25
MELI 6.9%PDD 22.7%
Revenue growth
MELI FY2019: +59.5%MELI FY2020: +73.1%MELI FY2021: +77.9%MELI FY2022: +52.5%MELI FY2023: +40.1%MELI FY2024: +37.5%MELI FY2025: +39.1%PDD FY2019: +126.9%PDD FY2020: +110.6%PDD FY2020: +61.7%PDD FY2022: +28.4%PDD FY2023: +84.3%PDD FY2024: +54.7%PDD FY2025: +14.5%FY19FY20FY21FY22FY23FY24FY25
MELI +39.1%PDD +14.5%
Free cash flow
MELI FY2018: $137.8MMELI FY2019: $314.3MMELI FY2020: $935MMELI FY2021: $392MMELI FY2022: $2.5BMELI FY2023: $4.6BMELI FY2024: $7.1BMELI FY2025: $10.8BPDD FY2018: $1.1BPDD FY2019: $2.1BPDD FY2020: $4.3BFY18FY19FY20FY21FY22FY23FY24FY25
MELI $10.8BPDD $4.3B

Fiscal years as each company reports them; the two may end in different months.

Questions about Mercadolibre and PDD

Which is bigger by revenue, Mercadolibre or PDD?

PDD is bigger by revenue: $61.8B in fiscal 2025, against $28.9B for Mercadolibre in fiscal 2025.

Which keeps more of its revenue as profit, Mercadolibre or PDD?

Mercadolibre had a net margin of 6.9% in fiscal 2025; PDD had 22.7% in fiscal 2025.

Which grew revenue faster, Mercadolibre or PDD?

In their latest fiscal years revenue changed by +39.1% at Mercadolibre and +14.5% at PDD.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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