Here’s Why Loomis Sayles Global Growth Fund Believes MercadoLibre (MELI) is Trading at a Discount

Core Insights - Loomis Sayles Global Growth Fund reported a return of -3.05% in Q4 2025, underperforming the MSCI ACWI Index Net which returned 3.29% [1] Company Overview - MercadoLibre, Inc. (NASDAQ:MELI) is the largest online commerce platform in Latin America, offering a comprehensive ecosystem of six integrated e-commerce services [3] - The company operates in 18 countries, covering a significant portion of Latin America's GDP, and has 218 million active users, representing over 45% of the region's estimated 480 million total internet users [3] Financial Performance - MercadoLibre, Inc. had a market capitalization of $101.749 billion as of February 12, 2026 [2] - The company reported that commerce and related services accounted for approximately 59% of its net revenue, while payments and fintech solutions made up about 41% [3] Market Position and Growth Potential - MercadoLibre benefits from strong competitive advantages, including its extensive network, brand recognition, and understanding of local markets, which contribute to its leadership position [3] - The company is well-positioned for sustained growth over the next decade, driven by the increasing growth of e-commerce in Latin America, improved internet access, and enhanced credit availability [3]