DASH vs MELI: DoorDash and MercadoLibre compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- MercadoLibre is the larger company, worth $97.8B, close to DoorDash's $91.4B.
- MercadoLibre grew revenue faster over the last year (+49.8% vs +35.6%).
- MercadoLibre keeps more of each dollar of revenue as operating profit (8.3% vs 4.5%).
- On earnings, MercadoLibre is the cheaper stock (50.8x vs 99.0x).
- DoorDash's price assumes faster free cash flow growth: about 17% a year, against -5% for MercadoLibre (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | DASH | MELI |
|---|---|---|
| Market cap | $91.4B | $97.8B |
| Share price | $196.50 | $1,889.85 |
| Revenue (last fiscal year) | $13.7B | $28.9B |
| Free cash flow (last fiscal year) | $1.8B | $10.8B |
| Revenue growth, last year | +35.6% | +49.8% |
| Revenue growth per year, last 5 fiscal years | +29.4% | +42.2% |
| Operating margin | 4.5% | 8.3% |
| Net margin | 5.3% | 5.3% |
| Return on equity | 8.5% | 23.8% |
| P/E (trailing) | 99.0x | 50.8x |
| Price / free cash flow | 42.1x | 9.09x |
| EV / EBITDA | 48.9x | 28.5x |
| FCF growth the price implies | 17.0% | -5.5% |
| Dividend yield | — | — |
| Debt / equity | 0.97x | 5.56x |
| Fundamental grade | D | C |
| Superinvestors holding it | 5 | 10 |
| Insider purchases, last 12 months | 10 | 10 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
DoorDash
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $4.9B | $455M | -9.2% |
| 2022 | $6.6B | $21M | -17.1% |
| 2023 | $8.6B | $1.3B | -6.7% |
| 2024 | $10.7B | $1.8B | -0.35% |
| 2025 | $13.7B | $1.8B | 5.3% |
MercadoLibre
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $7.1B | $392M | 6.2% |
| 2022 | $10.5B | $2.5B | 10.1% |
| 2023 | $15.1B | $4.6B | 14.6% |
| 2024 | $20.8B | $7.1B | 12.7% |
| 2025 | $28.9B | $10.8B | 11.1% |
Where the revenue comes from
DoorDash · by regions, 2025
United States$11.5B84%
International$2.3B16%
MercadoLibre · by segments, 2025
Brazil$15.2B53%
Mexico$6.5B22%
Argentina$6.0B21%
Other countries$1.3B4%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open DASH in InvestinglyQuestions
Which is bigger, DoorDash or MercadoLibre?
MercadoLibre (MELI), at $97.8B against $91.4B.
Is DASH or MELI cheaper?
By trailing P/E, MercadoLibre (50.8x) is cheaper than DoorDash (99.0x). A lower multiple can also mean the market expects less growth.
Which grows faster, DASH or MELI?
MercadoLibre: revenue grew +49.8% over the last year, against +35.6%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.