dLocal Limited
dLocal Limited is a financial technology company that provides a unified payments platform for global merchants operating in emerging markets. Through its One dLocal model, the company enables businesses to accept online payments and send payouts through a single integration, supporting cross-border and local-to-local transactions across regions including Latin America, Africa, the Middle East, and Asia. Its platform connects merchants with a wide range of local payment methods such as cards, bank transfers, direct debit, cash, and alternative payment options, helping companies navigate fragmented payment systems in multiple countries. dLocal also offers solutions for platform-based businesses, allowing marketplaces and digital businesses to manage payment flows more efficiently. The company serves a broad mix of industries, including commerce, streaming, ride-hailing, financial services, travel, software, gaming, and advertising. Founded in 2016 and headquartered in Montevideo, Uruguay, dLocal Limited plays a key role in digital payment infrastructure for international businesses expanding into emerging economies.
$14.68
-$0.42 (-2.81%)
EOD Oct 16, 2026
Margins and capital returns are both well above average: 20.31% operating margin, ROIC at 31.79%. Consistent with durable pricing power, though that alone doesn't make it a buy.
Revenue grew 46.6%, still solid.
Even for strong businesses, today's 22x P/E means the stock needs to keep delivering. There's no margin of safety if growth disappoints.
21.9x earnings, 11.5x FCF. Valuation is in a reasonable range. The main question is whether the business can re-accelerate or if current trajectory is already priced in.
Price History
Valuation & Multiples
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
$1.36B
▲ +46.6% YoY
Net Income (TTM)
$204M
▲ +63.4% YoY
Op. Margin
17.54%
▲ +1.4pp YoY
ROIC
31.79%
▲ +9.4pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$388M
▲ +783.1% YoY
Op. Cash Flow (TTM)
$429M
▲ +3581.5% YoY
Net Debt
-$458M
Net Cash Position
Cash & Equiv.
$548M
3Y CAGR: +37.7%
3Y CAGR: +38.6%
Continue Research
Is dLocal (DLO) overvalued?
At a P/E of 21.9 and a price-to-free-cash-flow of 11.5, dLocal (DLO) trades below a two-stage DCF intrinsic value of about $66.10 per share, so at $14.68 the stock looks undervalued (350.4% below estimated intrinsic value). A high multiple is not the same as overvalued: fast-growing, high-quality businesses can deserve a premium. See the general approach in how to tell if a stock is overvalued.
On quality, dLocal scores 75/100 on Intrinsiqq's quality scorecard (a solid business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. It currently yields about 1.3%; see dividend safety for coverage and history. All figures are computed from company filings; read the full methodology, or see how the market compares in our US profitability statistics. This is analysis, not investment advice.
Frequently asked
What is dLocal's fair value?+
Intrinsiqq's two-stage DCF estimates an intrinsic value of about $66.10 per share for DLO, projecting its recent free cash flow forward with a growth rate that fades toward a long-run rate and discounting it back to today. Applying a 25% margin of safety gives a more conservative fair-value entry around $49.57. At today's $14.68, that puts the stock about 350.4% below estimated intrinsic value. The result is sensitive to the growth and discount-rate inputs, so it is best to run conservative, base and optimistic cases. You can adjust all of them yourself with the sliders on the DCF tab.
Is dLocal a high-quality business?+
dLocal scores 75 out of 100 on Intrinsiqq's quality score, a weighted blend of 8 metrics each scored 0 to 100, which makes it a solid business on these measures. Recent fundamentals include a 17.5% operating margin and a 31.8% return on invested capital. The score weighs revenue and free-cash-flow growth, operating margins, return on invested capital, share-count change, and balance-sheet strength, all computed from company filings, not opinion. Because valuation only means something relative to quality, the full metric-by-metric breakdown is on the quality scorecard.
Does dLocal (DLO) pay a dividend, and how much?+
Yes, dLocal pays a regular dividend of about $0.19 per share per year (typically in quarterly installments), a yield of roughly 1.3% at the current price. That is a payout ratio of about 28.8% of earnings, so the dividend is amply covered by earnings. A low headline yield is not the same as a weak dividend: what matters is how well earnings and free cash flow cover the payout and whether it is growing, not the percentage alone. For DLO's full payout history, growth streak and dividend-safety score, see the dividends tab.
Is dLocal a good stock to buy right now?+
That depends on valuation and quality together, not either alone. DLO currently trades below its estimated intrinsic value and scores 75/100 on quality (solid). It also yields about 1.3%. A cheap price is only a bargain if the business is durable, and a premium can be justified by genuine quality, so the two questions, "is it cheap?" and "is it good?", only make sense side by side. Read the valuation against the quality scorecard, run the DCF on your own assumptions, and decide for yourself. This is analysis from company filings, not investment advice.
Related stocks: Software - Infrastructure
Spot a number that looks wrong?
Data sourced from company filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.