JD vs MELI: JD.com Inc Adr 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, about 2.8 times JD.com Inc Adr.
- MercadoLibre grew revenue faster over the last year (+49.8% vs +13.0%).
- MercadoLibre keeps more of each dollar of revenue as operating profit (8.3% vs 0.2%).
- On earnings, JD.com Inc Adr is the cheaper stock (19.1x vs 50.8x).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | JD | MELI |
|---|---|---|
| Market cap | $35.1B | $97.8B |
| Share price | $27.09 | $1,889.85 |
| Revenue (last fiscal year) | $1.31T | $28.9B |
| Free cash flow (last fiscal year) | $11.2B | $10.8B |
| Revenue growth, last year | +13.0% | +49.8% |
| Revenue growth per year, last 5 fiscal years | +8.3% | +42.2% |
| Operating margin | 0.21% | 8.3% |
| Net margin | 1.5% | 5.3% |
| Return on equity | 24.0% | 23.8% |
| P/E (trailing) | 19.1x | 50.8x |
| Price / free cash flow | 7.30x | 9.09x |
| EV / EBITDA | 9.55x | 28.5x |
| FCF growth the price implies | — | -5.5% |
| Dividend yield | 3.9% | — |
| Debt / equity | 1.94x | 5.56x |
| Fundamental grade | C | C |
| Superinvestors holding it | 3 | 10 |
| Insider purchases, last 12 months | 0 | 10 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
JD.com Inc Adr
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $951.6B | $36.7B | 0.44% |
| 2022 | $1.05T | $52.3B | 1.9% |
| 2023 | $1.08T | $55.5B | 2.4% |
| 2024 | $1.16T | $52.7B | 3.3% |
| 2025 | $1.31T | $11.2B | 0.21% |
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
JD.com Inc Adr · by segments, 2025
JD Retail$1.13T81%
JD Logistics$217.1B16%
New Businesses$49.3B4%
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 JD in InvestinglyQuestions
Which is bigger, JD.com Inc Adr or MercadoLibre?
MercadoLibre (MELI), at $97.8B against $35.1B.
Is JD or MELI cheaper?
By trailing P/E, JD.com Inc Adr (19.1x) is cheaper than MercadoLibre (50.8x). A lower multiple can also mean the market expects less growth.
Which grows faster, JD or MELI?
MercadoLibre: revenue grew +49.8% over the last year, against +13.0%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.