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MercadoLibre cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$2.4B in Q3 2026 · $12.3B over twelve months

Operating cash flow$3.0B
Capital spending−$503M
Free cash flow+$2.4B
Cash / net income6.6×
Cash conversion cycle-69 days

Analysis

In Q3 2026, MercadoLibre generated $3.0B of operating cash flow and spent $503M on capital projects, leaving free cash flow of $2.4B. That is $155M less than in Q3 2025 ($2.6B).

Over the twelve months to Sep 30, 2026, operating cash flow was $13.9B; the largest uses were other investing ($8.1B), capital spending ($1.6B), net borrowing (+) / repaid (−) ($66.0M); besides operations, cash came from other financing ($5.3B); the cash balance rose by $9.5B.

Operating cash flow was $3.0B against net income of $448M — 6.6× profit, cash ran ahead of reported earnings. The largest differences: payables +$574M, depreciation & amortization +$306M, prepaid and other assets −$255M.

Its cash conversion cycle was -69 days (receivables 4 + inventory 13 − payables 86): suppliers fund its working capital.

Free cash flow

MercadoLibre: free cash flow by quarterMercadoLibre: free cash flow by quarter$2.6BQ4 2024$759MQ1 2025$2.6BQ2 2025$2.6BQ3 2025$4.8BQ4 2025$1.8BQ1 2026$3.2BQ2 2026$2.4BQ3 2026
Operating cash flow less capital spending.
MercadoLibre: operating cash flow against capital spendingMercadoLibre: operating cash flow against capital spendingOperating cash flowCapital spending$2.9B$305MQ4 2024$1.0B$272MQ1 2025$2.9B$287MQ2 2025$3.0B$357MQ3 2025$5.2B$427MQ4 2025$2.1B$271MQ1 2026$3.7B$441MQ2 2026$3.0B$503MQ3 2026
Latest (Q3 2026): Operating cash flow $3.0B, Capital spending $503M.

Capital allocation, year by year

MercadoLibre: where the cash came from (up) and went (down), by fiscal yearMercadoLibre: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingAcquisitionsBuybacksFY2021: Operating cash flow $965MFY2021: Net borrowing −$1.9BFY2021: Shares issued $1.5BFY2021: Capital spending −$573MFY2021: Acquisitions −$51.0MFY2021: Buybacks −$486M$2.5BFY2021FY2022: Operating cash flow $2.9BFY2022: Net borrowing −$20.0MFY2022: Capital spending −$455MFY2022: Buybacks −$148M$2.9BFY2022FY2023: Operating cash flow $5.1BFY2023: Net borrowing −$33.0MFY2023: Capital spending −$509MFY2023: Buybacks −$356M$5.1BFY2023FY2024: Operating cash flow $7.9BFY2024: Net borrowing −$51.0MFY2024: Capital spending −$860MFY2024: Acquisitions −$6.0MFY2024: Buybacks −$1.0M$7.9BFY2024FY2025: Operating cash flow $12.1BFY2025: Net borrowing −$57.0MFY2025: Capital spending −$1.3BFY2025: Buybacks −$1.0M$12.1BFY2025
Over these 5 years operating cash flow totalled $29.1B; the largest uses were capital spending ($3.7B) and net borrowing ($2.0B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$7.4B
Debt$13.2B
Net debt$5.8B
Due within a year$6.9B

MercadoLibre funds itself: free cash flow was $12.3B over the last twelve months, and $7.4B of cash and investments stands against $13.2B of debt ($6.9B due within a year, 1.1× covered by cash).

Where the cash came from and went

MercadoLibre: sources (+) and uses (−) of cash, Q3 2026MercadoLibre: sources (+) and uses (−) of cash, Q3 2026Other investing−$3.0BOperating cash flow$3.0BOther financing$2.7BCash drawn (+) / kept (−)−$2.0BCapital spending−$503MExchange rates−$153MNet borrowing (+) / repaid (−)−$17.0M
MercadoLibre: sources (+) and uses (−) of cash, TTM to Q3 2026MercadoLibre: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$13.9BCash drawn (+) / kept (−)−$9.5BOther investing−$8.1BOther financing$5.3BCapital spending−$1.6BExchange rates$143MNet borrowing (+) / repaid (−)−$66.0MBuybacks−$1.0M

From profit to cash

MercadoLibre: net income to operating cash flow, Q3 2026MercadoLibre: net income to operating cash flow, Q3 2026Net income$448MDepreciation & amortization$306MDeferred taxes−$188MInventory−$218MPayables$574MPrepaid and other assets−$255MOther liabilities−$39.0MOperating cash flow$3.0B
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202641386-69
Q2 202641182-67
Q1 202641186-71
Q4 202541079-65
Q3 202541187-72
Q2 202541089-75
Q1 20254993-80
Q4 20244985-73

Every quarter

QuarterOperating cash flowCapital spendingBuybacksNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$3.0B−$503M—−$17.0M−$2.0B$2.4B
Q2 2026$3.7B−$441M—−$16.0M−$1.6B$3.2B
Q1 2026$2.1B−$271M—−$16.0M−$1.6B$1.8B
Q4 2025$5.2B−$427M—−$17.0M−$4.3B$4.8B
Q3 2025$3.0B−$357M−$1.0M−$14.0M−$2.3B$2.6B
Q2 2025$2.9B−$287M—−$13.0M−$2.4B$2.6B
Q1 2025$1.0B−$272M—−$13.0M$201M$759M
Q4 2024$2.9B−$305M—−$13.0M−$1.2B$2.6B

MercadoLibre: income statement and cash flow

MercadoLibre, Q3 2026: revenue $10.8B (+45% year over year), operating margin 6.3%. The chart follows the revenue to costs, profit and cash.

MercadoLibre: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.