AMZN
Amazon.com, Inc.
AMZN has the edge over MELI overall, supported by stronger modeled upside and lower modeled downside.
MELI
MercadoLibre, Inc.
MELI offers stronger valuation, but that advantage does not outweigh its weaker overall profile.
AMZN Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Weak | |
| Healthy |
AMZN's revenue, profitability and balance sheet are currently healthy, but its cash flow is weak.
MELI Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Stable | |
| Strong | |
| Stable |
MELI's revenue and cash flow are currently strong, and its profitability and balance sheet are stable.
AMZN PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 22x | $267 | — |
| Forward | 27x | $267 | — |
| Cheap | 34x | $415 | +55% |
| Fair | 60x | $745 | +179% |
| Expensive | 102x | $1,262 | +372% |
Historical ranges are pointers, not guarantees.
AMZN's PE is in its cheap range at 22x, but its recent earnings include one-off gains. On analysts' estimates for next year's earnings, today's price would be 27x.
MELI PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 33x | $1,475 | — |
| Current | 40x | $1,475 | — |
| Cheap | 50x | $1,874 | +27% |
| Fair | 75x | $2,798 | +90% |
| Expensive | 193x | $7,183 | +387% |
Historical ranges are pointers, not guarantees.
MELI has the edge over AMZN in the historical PE scenario, which offers more potential upside but is not a forecast.
AMZN Forward outlook
| Metric | Outlook |
|---|---|
| Strongly deteriorating | |
| Strong growth | |
| Growth | |
| Improving | |
| Moderate | |
| Moderate |
Analysts expect earnings and revenue growth for AMZN, with profitability improving.
MELI Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Strong growth | |
| Weakening | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for MELI, but weaker profitability.
AMZN Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $9.87 | -20% |
| Q3 2026 | $12.37 | +75% |
| Q2 2026 | $12.43 | +89% |
| Q1 2026 | $8.36 | +36% |
| Q4 2025 | $7.17 | +30% |
| Q3 2025 | $7.08 | +52% |
| Q2 2025 | $6.56 | +57% |
| Q1 2025 | $6.14 | +72% |
| Q4 2024 | $5.53 | +91% |
AMZN has the edge over MELI on earnings, with more consistent year-over-year improvement.
MELI Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $44.82 | +20% |
| Q3 2026 | $37.28 | -9% |
| Q2 2026 | $36.77 | -9.2% |
| Q1 2026 | $37.89 | -6.8% |
| Q4 2025 | $39.40 | +4.5% |
| Q3 2025 | $40.97 | +45% |
| Q2 2025 | $40.48 | +46% |
| Q1 2025 | $40.65 | +82% |
| Q4 2024 | $37.69 | +93% |
MELI earned $37.28 per share over the past year, down 9% from the year before.
AMZN Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $201.9B | +12% |
| Q2 2026 | $200.6B | +20% |
| Q1 2026 | $181.5B | +17% |
| Q4 2025 | $213.4B | +14% |
| Q3 2025 | $180.2B | +13% |
| Q2 2025 | $167.7B | +13% |
| Q1 2025 | $155.7B | +8.6% |
| Q4 2024 | $187.8B | +10% |
AMZN's revenue has grown year over year every quarter since late 2020: $202B last quarter, up 12% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 14% | +4.2 points |
| Q2 2026 | 14% | +2.3 points |
| Q1 2026 | 13% | +1.3 points |
| Q4 2025 | 12% | +0.4 points |
| Q3 2025 | 9.7% | -1.3 points |
| Q2 2025 | 11% | +1.5 points |
| Q1 2025 | 12% | +1.1 points |
| Q4 2024 | 11% | +3.5 points |
AMZN has the edge over MELI on profitability, with a higher operating margin.
MELI Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $10.8B | +45% |
| Q2 2026 | $10.2B | +50% |
| Q1 2026 | $8.8B | +49% |
| Q4 2025 | $8.8B | +45% |
| Q3 2025 | $7.4B | +39% |
| Q2 2025 | $6.8B | +34% |
| Q1 2025 | $5.9B | +37% |
| Q4 2024 | $6.1B | +42% |
MELI has the edge over AMZN on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 6.3% | -3.5 points |
| Q2 2026 | 6.7% | -5.4 points |
| Q1 2026 | 6.9% | -5.9 points |
| Q4 2025 | 10% | -3.4 points |
| Q3 2025 | 9.8% | -0.7 points |
| Q2 2025 | 12% | -2.2 points |
| Q1 2025 | 13% | +0.7 points |
| Q4 2024 | 14% | +7.9 points |
MELI's operating margin was 6.3% last quarter, down 3.5 points from the same quarter a year ago.
AMZN Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$34.8B | -8202% |
| Q2 2026 | -$8.8B | -2757% |
| Q1 2026 | -$18.2B | -$10.2B |
| Q4 2025 | $14.9B | -16% |
| Q3 2025 | $430M | -87% |
| Q2 2025 | $332M | -96% |
| Q1 2025 | -$8B | -297% |
| Q4 2024 | $17.8B | -36% |
AMZN's free cash flow was −$46.9B over the past year, against $10.6B the year before.
MELI Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $2.4B | -6% |
| Q2 2026 | $3.2B | +22% |
| Q1 2026 | $1.8B | +138% |
| Q4 2025 | $4.8B | +83% |
| Q3 2025 | $2.6B | +89% |
| Q2 2025 | $2.6B | +55% |
| Q1 2025 | $759M | -44% |
| Q4 2024 | $2.6B | +50% |
MELI has the edge over AMZN on cash generation, producing positive trailing cash flow while its opponent burns cash.
AMZN Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.2% | +26M shares |
| 1 year | +0.8% | +84M shares |
| 3 years | +3.5% | +371M shares |
| 5 years | +6.1% | +629M shares |
| Available history | +8.2% | +829M shares |
AMZN has 10.9B diluted shares, up 0.8% from a year ago.
| Quarter | Spent |
|---|---|
| Q1 2024 | — |
| Q4 2023 | — |
| Q3 2023 | — |
| Q2 2023 | — |
| Q1 2023 | — |
| Q4 2022 | — |
| Q3 2022 | — |
| Q2 2022 | $3.3B |
MELI Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -195 shares |
| 1 year | 0% | -178 shares |
| 3 years | +1% | +488K shares |
| 5 years | +2.2% | +1.1M shares |
| Available history | +2% | +987K shares |
MELI has the edge over AMZN on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q4 2025 | — |
| Q3 2025 | $1M |
| Q4 2024 | — |
| Q3 2024 | — |
| Q2 2024 | $1M |
| Q1 2024 | — |
| Q4 2023 | — |
AMZN Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.7x | Very low |
| Q2 2026 | 0.3x | Very low |
| Q1 2026 | 0.1x | Very low |
| Q4 2025 | -0.1x | Net Cash |
| Q3 2025 | -0.1x | Net Cash |
| Q2 2025 | -0.0x | Net Cash |
| Q1 2025 | -0.1x | Net Cash |
| Q4 2024 | -0.2x | Net Cash |
AMZN has the edge over MELI on leverage, with a lower net debt burden relative to earnings.
MELI Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 2.3x | Moderate |
| Q2 2026 | 1.8x | Healthy |
| Q1 2026 | 1.6x | Healthy |
| Q4 2025 | 1.4x | Healthy |
| Q3 2025 | 1.4x | Healthy |
| Q2 2025 | 1.2x | Healthy |
| Q1 2025 | 1.0x | Very low |
| Q4 2024 | 1.0x | Very low |
MELI's net debt is about 2.3 years of its operating earnings (EBITDA), up from 1.4 years a year ago.
AMZN Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 57.1 | Neutral |
| Stochastic | 50.0 | Neutral |
AMZN's weekly RSI is 57 (neutral) and its Stochastic is 50 (neutral).
MELI Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 35.0 | Neutral |
| Stochastic | 6.5 | Oversold |
MELI's weekly RSI is 35 (neutral) and its Stochastic is 6 (oversold).
AMZN PE vs Consumer Cyclical Sector
| Metric | AMZN | Sector median | Relative |
|---|---|---|---|
| PE | 22x | 18x | 20% above |
| PE % | 4 | 47 | 43 pts below |
AMZN has the edge over MELI on valuation relative to its sector.
MELI PE vs Consumer Cyclical Sector
| Metric | MELI | Sector median | Relative |
|---|---|---|---|
| PE | 40x | 18x | 120% above |
| PE % | 0 | 47 | 47 pts below |
MELI is trading at 40x earnings, a 120% premium to the Consumer Cyclical sector's median of 18x.
AMZN Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $253.6 | 5.5% above |
| 20 week MA | $254.9 | 4.9% above |
| 50 week MA | $242.5 | 10% above |
| 100 week MA | $229.6 | 17% above |
| 200 week MA | $191.4 | 40% above |
AMZN has the edge over MELI on trend strength, trading above more of its moving averages.
MELI Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $1,699.1 | 13% below |
| 20 week MA | $1,796.0 | 18% below |
| 50 week MA | $1,820.0 | 19% below |
| 100 week MA | $2,010.5 | 27% below |
| 200 week MA | $1,769.5 | 17% below |
MELI is in a downtrend: it's below all five of its weekly moving averages, and 17% below its 200-week average.
AMZN Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $93.5 | $158.6 | +70% |
| 2021 | $158.6 | $171.1 | +7.8% |
| 2022 | $171.1 | $85.3 | -50% |
| 2023 | $85.3 | $151.9 | +78% |
| 2024 | $151.9 | $223.8 | +47% |
| 2025 | $223.8 | $232.5 | +3.9% |
| 2026 YTD | $232.5 | $267.4 | +15% |
AMZN has the edge over MELI on returns for 2026, with the stronger performance.
MELI Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $599.2 | $1,690.5 | +182% |
| 2021 | $1,690.5 | $1,262.7 | -25% |
| 2022 | $1,262.7 | $878.3 | -30% |
| 2023 | $878.3 | $1,571.5 | +79% |
| 2024 | $1,571.5 | $1,725.5 | +9.8% |
| 2025 | $1,725.5 | $2,005.7 | +16% |
| 2026 YTD | $2,005.7 | $1,475.1 | -26% |
MELI has finished higher in four of the last six years, two of them by more than 50%. It's down 26% so far in 2026.