Added to YB: 2026-03-23
Pitch date: 2026-03-18
DLO [neutral]
DLocal Limited
Author Info
No bio for this author
Company Info
DLocal Limited, together with its subsidiaries, provides payment processing services worldwide. The company offers a robust pay-in solution to help global merchants expand their online presence and receive payments, including international and local cards, online bank transfers, direct debit, cash, and hundreds of alternative payment methods (APMs).
Market Cap
$3.7B
Pitch Price
N/A
Price Target
N/A
Dividend
1.55%
EV/EBITDA
13.06
P/E
19.28
EV/Sales
2.69
Sector
Financial Services
Category
growth
dLocal ($DLO) – Q4 and FY 2025 Review
DLO (earnings): Q4 TPV $13.1B (+70% YoY), FY25 rev $1.09B (+47% YoY), crossed $1B milestone. Net income $196.9M (+63% YoY), 35% ROE. Adj FCF $190.7M, 97% cash conversion. NRR 162%, 158% TPV retention. 2026 guide: 50-60% TPV growth, 27.5-32.5% op profit growth. Bear: gross margin fell to 34% from 40% on Tier-0 discounting. $300M buyback, $57M dividend. 8x EBITDA vs 47% EBITDA growth = undervalued.
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