Dlocal Ltd (DLO) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Dlocal Ltd stock $23.34, price $13.95, upside +67.3%, quality 75 out of 100. Rating: strongly undervalued. Calculated from audited financials with 13 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 8, 2026.
How to read this chart
60‑month range $6.47 – $64.65 · fair‑value band $6.49 – $39.55 · the $13.95 price screens below the $23.34 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 8, 2026.
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DLocal Limited, together with its subsidiaries, provides payment processing services worldwide.
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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). It also provides pay-in solutions for cross-border and local-to-local transactions, as well as pay-out solutions.
In addition, the company offers dLocal for Platforms to manage global platform payments. It serves its products to commerce, streaming, ride-hailing, financial services, remittances, advertising, SaaS, travel, e-learning, on-demand delivery, gaming, and crypto industries.
The company was founded in 2016 and is headquartered in Montevideo, Uruguay.
Stock analysis
Dlocal Ltd (DLO) currently trades at $13.95, while our model-based Fair Value estimate is $23.34, implying the stock looks roughly 40% undervalued today.
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Valuation
Bull case: the Earnings-Based group reads highest at a median of $27.41 per share, and 7 of the 13 models we run sit above the $13.95 price.
Bear case: the Economic Profit group reads lowest at $4.70, and 6 of the 13 models stay below the price. Data coverage for this calculation is high.
Scenario range: $6.49 (bear) to $39.55 (bull), the price of $13.95 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 75/100 (high quality), in the Technology sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Dlocal Ltd reported revenue of $1.1B in FY2025 versus $244M in FY2021, a compound +45.5%/yr. Reported net income was $197M in FY2025, compounding +26.1%/yr from FY2021.
Key figures
Market cap $4.1B Mid · P/E ratio 21.8 · P/S ratio 3.04 · EPS (TTM) $0.6800 · Dividend yield 1.4% · Net margin 15.0% · Return on equity 41.3% · Return on assets (EBIT) 14.6% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 73 out of 100 (low confidence).
What moves the price
The share trades about 12% below its 52-week high and 29% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Technology peers we cover trades at −11% fair-value upside, at 67%, DLO screens cheaper than that median.
Fair Value models
Bear$6.49Fair Value $23.34Bull$39.55
Price $13.95 · Upside +67.3%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then ($0.4154 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
In the last 6 months, one officer or director bought shares worth $237,000, on May 29, 2026. Over the same period, one person sold shares worth $16.2M.
SaleSebastian KanovichDirector3× since Jul 1, 2026: 1,103,153 shares, avg. $14.71$16.2MAug 5, 202610b5-1 plan
BuyWilliam Rodney PruettDirector20,000 shares at $11.85$237,000May 29, 2026
Plus 4 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+46.6%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+37.7%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+60.0%
Start year 2020 (pandemic)
Revenue growth 6 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+64.5%
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’23
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’25
What shareholders gained per year (last 5 years) (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
+37.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year+36.5%
Dividend (yield on the price)1.4%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.30% → 20%
2025 sits 69% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−7.8%
The company could shrink this much every year for the next five years and today's price would still be justified.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+28.8%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about −9.9% a year for the price and +25.8% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (94 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Positive
Recent news coverage is more positive than average.
AI conclusion: The company's main strength is explosive growth in payment volumes across emerging markets, while its main weak point remains thin evidence of a durable moat and insufficient signals on pricing power.
Main risk: Persistent pressure on take rates from expanding local payment options risks eroding profit margins as the platform scales across more than sixty regulatory environments.
dLocal keeps posting explosive growth in total payment volume across emerging markets while adding tools like AI-driven compliance systems to handle operations in more than 60 regulatory environments. Take rates continue to face pressure even as the platform expands local payment options for global merchants. Our models see the shares as undervalued. Will the infrastructure upgrades let the company compound volume into stronger profits or will pricing dynamics keep eating into margins?
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Software - Infrastructure · 345 stocks
Beats the industry median on 10/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score75 · Top 25%
Fair Value upside+67.3% · Top 25%
Profitability
Return on equity (12 months)41.3% · Top 25%
Return on assets12.8% · Top 25%
Net margin (12 months)15.0% · Top 25%
Operating margin (12 months)16.1% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)55.8% · Top 25%
Dividend yield (12 months)1.4% · Below median
Valuation Multiplesvs Software - Infrastructure median · lower = cheaper
P/E (12 months)21.8× · Cheaper than median
P/B7.25× · Priciest 25%
P/S (12 months)3.04× · Pricier than median
Price / free cash flow (fiscal year)9.8× · Cheaper than median
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Dlocal Ltd Fair Value". https://www.fairvalue-calculator.com/stock/DLO
Frequently asked questions
Is Dlocal Ltd (DLO) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of $23.34 versus a price of $13.95, about +67% upside (undervalued).
What is the fair value of DLO?
Our model-based fair value for Dlocal Ltd is $23.34 (as of Nov 8, 2026), built from audited fundamentals. The current price: $13.95.
What is the quality score of DLO?
Dlocal Ltd has a Quality Score of 75/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Dlocal Ltd (DLO)?
Our model-based price target is the fair value of $23.34 (as of Nov 8, 2026) from 13 valuation models. Cautious scenario $6.49, optimistic scenario $39.55. It is a calculation from audited fundamentals, not an analyst target.
What is the Dlocal Ltd stock forecast for 2026?
Our models put fair value at $23.34, about +67% upside versus a price of $13.95 (undervalued). Cautious scenario $6.49, optimistic scenario $39.55. The calculation is refreshed regularly with new filings.
What is the revenue of Dlocal Ltd (DLO)?
Dlocal Ltd reported trailing-twelve-month revenue of about $1.4B (latest available figure, as of Nov 8, 2026).
Does Dlocal Ltd pay a dividend?
Dlocal Ltd currently shows a dividend yield of 1.39% relative to its recent price (as of Nov 8, 2026).
How much is the dividend of Dlocal Ltd (DLO) and when is the ex-dividend date?
Dlocal Ltd pays a dividend of $0.194 per share a year, a dividend yield of 1.4%. The last ex-dividend date was May 27, 2026. The payout ratio is 28.5% of earnings. Free cash flow covers the dividend 12.21 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into Dlocal Ltd (DLO)?
For today's price to be fair in a discounted-cash-flow model, Dlocal Ltd would have to grow free cash flow by -7.8 % per year for five years (discount rate 9.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +60.1 % per year. As of Nov 8, 2026.
What discount rate (WACC) does the fair value of DLO use?
Our models discount Dlocal Ltd at 9.3 %: a base by market capitalisation (mid), damped by beta 0.84, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Dlocal Ltd that is -7.8 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (9.3 %) and the same formula as our fair value.
How much growth has Dlocal Ltd (DLO) delivered so far?
Over the past 5 years revenue at Dlocal Ltd grew +60.1 % a year. The price currently implies free-cash-flow growth of -7.8 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Dlocal Ltd (DLO) growing?
The median revenue growth in the sector is +9.2 % a year. That is the yardstick for the growth priced into Dlocal Ltd (-7.8 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Dlocal Ltd (DLO)?
The free-cash-flow yield on the price is 10.22 %: that much free cash flow Dlocal Ltd produces per unit of market value. When it exceeds the discount rate of our models (9.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Dlocal Ltd (DLO)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Dlocal Ltd it is $23.34 per share (as of Nov 8, 2026), against a price of $13.95. It is the blended result of 13 valuation models in 7 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit).
Is Dlocal Ltd stock overvalued or undervalued in 2026?
As of Nov 8, 2026, DLO trades below its calculated fair value: price $13.95, fair value $23.34, a gap of about +67% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of DLO?
No. The price is what the market pays today ($13.95); the fair value is what the company's own numbers justify ($23.34). For Dlocal Ltd the two are $9.39 per share apart. That gap is exactly why we show both numbers side by side.
How much is Dlocal Ltd worth?
The market values Dlocal Ltd at about $4.1B (market capitalisation, as of Nov 8, 2026). Per share that is $13.95; our models calculate a fair value of $23.34 per share.
What do the bullish and bearish scenarios say about DLO?
Our models span a range for Dlocal Ltd: cautious scenario $6.49, base $23.34, optimistic $39.55 per share (as of Nov 8, 2026, price $13.95). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of DLO?
Dlocal Ltd trades at a price-to-earnings ratio of 21.8 (as of Nov 8, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $23.34 is built from several models across several years. Median P/E at fiscal year-end, 5 fiscal years (2021 to 2025), reported earnings: 36.0. Other multiples: P/B 7.3, P/S 3.0, EV/EBITDA 14.1.
How solid is the balance sheet of Dlocal Ltd (DLO)?
Balance-sheet figures for Dlocal Ltd (as of Nov 8, 2026): return on equity 41.3%. They feed the Quality Score of 75/100, which measures business quality independently of the share price.
How far is DLO from its 52-week high?
Dlocal Ltd trades at $13.95, about 12% below its 52-week high of $15.78 and 29% above the low of $10.83 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of $23.34 is for.
Which stocks are comparable to Dlocal Ltd?
From the same area (Technology) we also value Microsoft Corporation, Oracle Corporation, Palantir Technologies Inc, Palo Alto Networks, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Dlocal Ltd stock attractive at the current price?
The data as of Nov 8, 2026: price $13.95, calculated fair value $23.34 (+67%), Quality Score 75/100, from 13 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of DLO calculated?
We run Dlocal Ltd through 13 models from 7 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit. Every model gets the same audited fundamentals; the fair value of $23.34 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0% above its aggregate fair value. Dlocal Ltd currently trades 40% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Dlocal Ltd (DLO)?
The closing price on Nov 6, 2026 was $13.95. Our model-based fair value is $23.34, about +67% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Dlocal Ltd right now?
The rarer combination: high quality (75/100) AND below fair value. That earns a closer look rather than a quick verdict. The model range is unusually wide ($6.49 to $39.55). The outcome hinges heavily on assumptions, so read the point estimate with caution.
Key figures of Dlocal Ltd
How large is the market capitalisation of Dlocal Ltd (DLO)?
The market capitalisation of Dlocal Ltd is $4.1B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Dlocal Ltd (DLO)?
The price-to-sales ratio of Dlocal Ltd is 3.04 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Dlocal Ltd (DLO)?
Earnings per share at Dlocal Ltd are $0.6800 (price ÷ EPS = P/E 21.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Dlocal Ltd (DLO)?
The dividend yield of Dlocal Ltd is 1.4% (payout 28.5%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Dlocal Ltd (DLO)?
The net margin of Dlocal Ltd is 15.0% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Dlocal Ltd (DLO)?
The return on equity (ROE) of Dlocal Ltd is 41.3% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Dlocal Ltd (DLO)?
On an EBIT basis the return on assets of Dlocal Ltd is 14.6% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Dlocal Ltd (DLO)?
The operating margin of Dlocal Ltd is 16.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Dlocal Ltd (DLO)?
Revenue at Dlocal Ltd is growing +55.8% versus a year earlier (3y avg +37.7%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Dlocal Ltd (DLO)?
Earnings per share at Dlocal Ltd are growing +28.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Dlocal Ltd (DLO) hold?
Dlocal Ltd holds more cash than debt, $635M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Broad data
Nov 8, 2026