und guter Start heute
MercadoLibre, Inc.(NasdaqGS: MELI)
Real-Time: 46.67 1.88 (+4.20%) 11:12AM EDT
und Short ist Mord
--------------------------------------------------
sehr gute 1.Q Zahlen Verfasst am: 07.05.2010 - 10:19
--------------------------------------------------
hier eine Zusammenfassung
Again....I always look at the cash economics. Cash is the life blood of any business.
#1 the free cash flow generation was amazing this quarter, up from $3.1MM to $10.1MM, or up 222% yoy!!!!!!! This equates to a FCF margin (FCF/revs), of 22% in Q1 2010, vs 9.5% in Q1 of 2009. So effectively free cash flow margin on a percentage basis, more than doubled, and on an absolute basis, more than tripled from $3M to 10MM!!! meli just has such amazing economics. Such a high margin business and scaling at a phenemenol rate. Meli own latin america has the market cornered and the economics prove this.
1a) operating cash flow was up 136% yoy!! Sweet! Que bueno!
#2 operating margins, net margins, gross margins, pretax margins all look juicy and very, very healthy.
#3 GMV run rate for 2010 will be about $731MM times 4, or about $3B for the year; PLUS a TPV run rate for all of 2010, of $123MM times 4 = $500MM. So in sum, GMV + TPV volume in 2010 (based on current run rates), should be about $3.5B. In 2009, the sum of GMV and TPV equaled about $3B. So cumulatively (2009 + 2010), we will have about $6B in GMV and TPV. So if we take this $6B, and divide it by 44.1 million shares outstanding, we get $136 pps. She's very undervalued relative to where she is headed.
Again, the sum of TPV and GMV is a very good proxy for meli's market cap.
I love the ecosystem that meli has, but once mobile get's added to it, we will see a step function change, as mobile will be a huge catalyst for meli's business and operating metrics. Can't wait! Galperin did mention smartphone's on the call as well. It's in his cross-hairs. Hopefully, the team get's a mobile solution out this year. Jesus I hope so!
So galperin....please continue to keep an underdog attitude and keep up the great leadership. These numbers that you shared with the street today will blow up the 5.25 million shorts who are betting against you. Let them burn tomorrow!
And oh yeah......hey donoahoe, how do you like them apples.
Trying to steal meli. Pay up you cheap piker. Every qtr that goes by, meli moves further and further away from your grasp.
At this rate, $10B for meli looks cheap. I see a google / bidu valuation soon, and I believe the management team does too. They'd be stupid to sell to you now. Selling meli now to you, would be like selling google for $3B to yahoo back in the day. That would have been stupid. And to boot, yahoo thought it was too expensive! Sound familiar!
Rock on meli!
www.marketwatch.com/story/...0-2010-05-06?reflink=MW_news_stmp
