DLocal Limited (DLO) Key Metrics
DLO valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $4.32B
- Enterprise value
- $3.27B
- P/E (TTM)
- 21.6 10-yr median 36.0
- Forward P/E
- 19.6
- PEG ratio
- —
- Price / sales
- 3.2 10-yr median 8.2
- Price / book
- 7.7 10-yr median 11.5
- EV / EBITDA
- 12.2 10-yr median 26.3
- Dividend yield
- 0.78% $0.19 a year
- Beta
- 0.84
DLO key metrics, 2019–2025
Fiscal year ended December 31, 2025 · U.S. dollarsDLO valuation Price multiples at each fiscal year-end price.
DLO returns How much profit the business earns on the capital it uses.
DLO per-share figures Results divided by the shares outstanding at year-end.
DLO financial health Debt, liquidity and how easily interest is covered.
DLO efficiency & capital use Working capital cycle and where the cash goes.
DLO valuation history
DLO returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
DLO debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
DLO cash returned to shareholders
DLO price vs earnings per share
DLO key metrics
2019–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Valuation | |||||||
| Market capitalization | $4.17B | $3.44B | $5.36B | $4.61B | $10.53B | — | — |
| Enterprise value | $3.71B | $3.16B | $5.04B | $4.36B | $10.31B | — | — |
| P/E ratio | 21.2 | 28.5 | 36.0 | 42.4 | 135.2 | — | — |
| Price / sales | 3.8 | 4.6 | 8.2 | 11.0 | 43.1 | — | — |
| Price / book | 7.3 | 7.0 | 11.8 | 11.5 | 37.6 | — | — |
| Price / free cash flow | 9.9 | — | 19.5 | 27.6 | 174.1 | — | — |
| Price / operating cash flow | 9.8 | — | 18.3 | 27.4 | 97.1 | — | — |
| EV / sales | 3.4 | 4.2 | 7.7 | 10.4 | 42.2 | — | — |
| EV / EBITDA | 14.5 | 18.7 | 26.3 | 33.9 | 114.1 | — | — |
| EV / free cash flow | 8.8 | — | 18.3 | 26.1 | 170.5 | — | — |
| Earnings yield | 4.7% | 3.5% | 2.8% | 2.4% | 0.7% | — | — |
| Free cash flow yield | 10.1% | −1.6% | 5.1% | 3.6% | 0.6% | — | — |
| Dividend yield | 3.6% | 0.0% | 0.0% | 0.1% | 0.0% | — | — |
| Shareholder yield (dividends + buybacks) | 3.6% | 2.9% | 1.8% | 0.1% | 0.0% | — | — |
| Share price at fiscal year-end | $14.14 | $11.26 | $17.69 | $15.57 | $35.69 | — | — |
| Per share | |||||||
| Revenue per share | $3.71 | $2.44 | $2.15 | $1.42 | $0.83 | $0.36 | $0.19 |
| Earnings per share | $0.67 | $0.39 | $0.49 | $0.37 | $0.26 | $0.10 | $0.05 |
| Operating cash flow per share | $1.44 | −$0.11 | $0.97 | $0.57 | $0.37 | $0.30 | $0.10 |
| Free cash flow per share | $1.43 | −$0.18 | $0.91 | $0.57 | $0.20 | $0.29 | $0.10 |
| Cash per share | $1.86 | $1.08 | $1.07 | $0.84 | $0.78 | $0.18 | $0.08 |
| Book value per share | $1.93 | $1.60 | $1.50 | $1.35 | $0.95 | $0.15 | $0.08 |
| Tangible book value per share | $1.68 | $1.39 | $1.31 | $1.18 | $0.79 | $0.14 | $0.08 |
| Dividends per share | $0.51 | $0.00 | $0.00 | $0.01 | $0.00 | $0.05 | $0.03 |
| Capex per share | $0.01 | $0.07 | $0.06 | $0.00 | $0.16 | $0.01 | $0.01 |
| Debt per share | $0.31 | $0.18 | $0.01 | $0.01 | $0.03 | $0.00 | $0.00 |
| Shares outstanding | 294.9M | 305.1M | 303.0M | 296.0M | 295.0M | 292.9M | 292.9M |
| Change in shares outstanding | −3.3% | +0.7% | +2.3% | +0.3% | +0.7% | 0.0% | — |
| Returns & profitability | |||||||
| Return on equity (ROE) | 37.2% | 25.5% | 34.9% | 32.0% | 47.9% | 81.2% | 64.0% |
| Return on invested capital (ROIC) | 117.8% | 64.6% | 104.2% | 107.6% | 284.8% | — | 619.2% |
| Return on assets (ROA) | 14.5% | 10.7% | 15.6% | 15.4% | 19.9% | 20.1% | 19.6% |
| Return on tangible assets | 13.4% | 10.9% | 14.5% | 14.0% | 14.5% | 14.4% | 20.1% |
| Free cash flow margin | 38.6% | −7.4% | 42.3% | 39.9% | 24.8% | 81.2% | 52.5% |
| Income quality (OCF / net income) | 2.16 | −0.27 | 1.97 | 1.55 | 1.39 | 3.14 | 1.97 |
| Financial health | |||||||
| Total debt | $90.3M | $54.5M | $4.0M | $4.1M | $8.9M | $218,000 | $399,000 |
| Cash & short-term investments | $548.1M | $330.0M | $325.5M | $249.1M | $228.9M | $52.0M | $22.3M |
| Net debt | −$457.8M | −$275.5M | −$321.5M | −$245.0M | −$220.0M | −$51.8M | −$21.9M |
| Debt / equity | 0.16 | 0.11 | 0.01 | 0.01 | 0.03 | 0.00 | 0.02 |
| Debt / assets | 0.06 | 0.05 | 0.00 | 0.00 | 0.02 | 0.00 | 0.01 |
| Net debt / EBITDA | −1.79 | −1.63 | −1.68 | −1.91 | −2.43 | −1.60 | −1.20 |
| Current ratio | 1.47 | 1.58 | 1.63 | 1.82 | 1.77 | 1.26 | 1.41 |
| Quick ratio | 1.47 | 1.58 | 1.03 | 1.82 | 1.78 | 0.77 | 0.85 |
| Interest coverage | 10.6 | 2.8 | 2.0 | 722.7 | 154.1 | 461.9 | 585.5 |
| Working capital | $454.8M | $395.3M | $390.8M | $345.6M | $231.1M | $39.7M | $22.4M |
| Invested capital | $111.4M | $213.4M | $133.5M | $154.6M | $60.3M | −$6.7M | $2.5M |
| Tangible asset value | $495.5M | $425.7M | $397.3M | $348.2M | $233.3M | $40.9M | $22.7M |
| Net current asset value | $449.2M | $390.5M | $386.7M | $341.1M | $226.8M | $39.4M | $22.1M |
| Graham number | $5.38 | $3.77 | $4.08 | $3.34 | $2.38 | $0.58 | $0.32 |
| Graham net-net per share | −$0.11 | −$0.03 | $0.40 | −$0.04 | $0.20 | −$0.05 | $0.00 |
| Capital allocation | |||||||
| Dividends paid | $150.0M | $0 | $0 | $3.9M | $638,000 | $15.0M | $10.0M |
| Share buybacks (net) | $0 | $101.1M | $97.9M | $2.0M | $638,000 | $0 | — |
| Dividend payout ratio | 76.2% | 0.0% | 0.0% | 3.6% | 0.8% | 53.2% | 64.1% |
| Dividends + buybacks / free cash flow | 35.6% | — | 35.6% | 3.6% | 2.1% | 17.7% | 34.5% |
| Capex / revenue | 0.2% | 3.0% | 2.8% | 0.2% | 19.7% | 3.7% | 3.1% |
| Capex / operating cash flow | 0.5% | — | 6.2% | 0.6% | 44.3% | 4.4% | 5.6% |
| Capex / depreciation | 0.09 | 1.30 | 1.49 | 0.12 | 10.12 | 3.91 | 4.17 |
| Stock-based compensation / revenue | 2.2% | 3.2% | 1.8% | 2.1% | 3.1% | 7.0% | 9.1% |
| R&D / revenue | 2.8% | 3.4% | 1.9% | 1.5% | 1.4% | 1.9% | 2.4% |
| SG&A / revenue | 10.5% | 13.3% | 12.9% | 12.0% | 18.1% | 23.7% | 28.8% |
| Efficiency | |||||||
| Days sales outstanding | 163.2 | 190.0 | 151.0 | 173.2 | 184.0 | 160.6 | 161.4 |
| Days of inventory on hand | — | — | 181.8 | 0.2 | 119.2 | 437.5 | 571.5 |
| Days payables outstanding | 363.4 | 459.0 | 472.8 | 559.4 | 651.7 | 776.8 | 955.7 |
| Cash conversion cycle (days) | -200.2 | -269.0 | -139.9 | -386.0 | -348.6 | -178.7 | -222.8 |
| Receivables turnover | 2.24 | 1.92 | 2.42 | 2.11 | 1.98 | 2.27 | 2.26 |
| Payables turnover | 1.00 | 0.80 | 0.77 | 0.65 | 0.56 | 0.47 | 0.38 |
| Inventory turnover | — | — | 2.01 | 2,146.12 | — | 0.83 | 0.64 |
| Asset turnover | 0.81 | 0.66 | 0.68 | 0.59 | 0.62 | 0.74 | 0.69 |
| Average receivables | $489.0M | $388.3M | $269.1M | $198.8M | $123.0M | $45.8M | $24.4M |
| Average payables | $687.8M | $567.6M | $483.8M | $332.2M | $203.0M | $93.8M | $50.8M |
| Average inventory | — | — | $186.1M | $101,000 | $37.1M | $52.8M | $30.4M |
| Intangibles / total assets | 4.8% | 5.4% | 5.3% | 6.2% | 8.1% | 2.1% | 2.3% |
Computed from DLO's annual financial statements (latest annual report filed March 18, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
DLO valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), DLocal traded at 21.2 times earnings, against a 7-year median of 36.0. Based on the latest twelve months, the trailing P/E is 21.6 and the forward P/E is 19.6. DLocal earned a return on equity of 37.2% and a return on invested capital of 117.8% in fiscal 2025. It ended the year with $90.3 million of debt and $548.1 million in cash and short-term investments, a net cash position of $457.8 million. It returned $150.0 million to shareholders: $150.0 million in dividends and $0 in share buybacks, 36% of free cash flow.
See the DLO income statement, the DLO chart for price history, or the DLO stock overview for the latest quote and news.
DLO key metrics FAQ
What is DLocal's P/E ratio?
DLocal's trailing P/E ratio is 21.6 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 19.6. At the end of fiscal 2025 it was 21.2, compared with a 7-year median of 36.0.
What is DLocal's EV/EBITDA?
DLocal's enterprise value was 14.5 times EBITDA at the end of fiscal 2025 (enterprise value $3.7 billion, EBITDA $255.2 million); the current EV/EBITDA is 12.2.
What is DLocal's return on equity?
DLocal's return on equity (ROE) was 37.2% in fiscal 2025: net income of $196.8 million on average shareholders' equity of $529.1 million.
What is DLocal's ROIC?
DLocal's return on invested capital was 117.8% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does DLocal have?
DLocal had total debt of $90.3 million at the end of fiscal 2025, a debt-to-equity ratio of 0.16 and more cash than debt.
What is DLocal's dividend yield?
DLocal's forward dividend yield is 0.78%. DLocal paid $150.0 million in dividends in fiscal 2025 ($0.51 per share), a payout ratio of 76.2%.
What is DLocal's free cash flow yield?
DLocal generated $421.9 million of free cash flow in fiscal 2025, a free cash flow yield of 10.1% on its market value at year-end ($4.2 billion).
What is DLocal's current ratio?
DLocal's current ratio was 1.47 at the end of fiscal 2025: current assets were 1.47 times current liabilities.