Mistral OCR vs LlamaParse Pricing and Accuracy for Invoice Extraction

The short answer on Mistral OCR vs LlamaParse

For invoice field extraction, Mistral Document AI costs $5 per 1,000 pages, while LlamaExtract costs $10 per 1,000 pages on Cost-effective, $31.25 on Agentic and $75 on Agentic Plus. Mistral is the cheaper engine at every LlamaExtract tier. LlamaParse is the better pick when you need a choice of accuracy tiers on difficult tables, or when your stack already runs on LlamaIndex.

For plain parsing to markdown the gap narrows. Mistral OCR is $4 per 1,000 pages, or $2 through the Batch API, against LlamaParse at $1.25 on Fast, $3.75 on Cost-effective and $12.50 on Agentic. So LlamaParse can be cheaper for clean text, and Mistral is cheaper the moment you want structured invoice fields.

The decision usually lands on two desks

An engineer picks the parser. An AP lead lives with the output. The engineer cares about cost per 1,000 pages and API ergonomics. The AP lead cares whether row four of a 40-line invoice made it into the spreadsheet. A good comparison answers both.

How much does Mistral OCR cost per page?

Mistral OCR 4.1 costs $4 per 1,000 pages, which is $0.004 a page, and $2 per 1,000 pages through the Batch API at a 50 percent discount. Annotated pages, where Document AI returns fields against a JSON schema you define, cost $5 per 1,000. The model ID mistral-ocr-latest now points to OCR 4.1, released in July 2026.

The OCR endpoint returns each page as markdown with tables kept as tables, plus bounding boxes and extracted images. It does not know what an invoice is. To get a vendor name, invoice number, due date and line items back as typed fields you use annotations, write the schema, and keep it working as vendor layouts change. The full rate card sits on our Mistral OCR pricing page.

How much does LlamaParse cost per page?

LlamaCloud sells credits at $1.25 per 1,000, and LlamaParse uses 1 credit a page on Fast, 3 on Cost-effective, 10 on Agentic and 45 on Agentic Plus. That works out to $1.25, $3.75, $12.50 and $56.25 per 1,000 parsed pages.

LlamaExtract, the structured extraction product, bills its own tier on top of a default parse. The documentation lists the totals as 8 credits a page on Cost-effective (5 plus 3), 25 on Agentic (15 plus 10), 60 on Agentic Plus (50 plus 10) and a flat 35 on Turbo, which skips the separate parse. Files already parsed by LlamaParse bill only the extract part. The plans are Free with 10,000 credits, Starter at $50 a month for 40,000 credits and Pro at $500 a month for 400,000 credits. Our LlamaParse pricing breakdown goes through each tier.

Mistral OCR vs LlamaParse pricing side by side

All figures are dollars per 1,000 pages at list price.

What 2,500 to 50,000 invoice pages a month costs

Here is the list-price bill for structured invoice extraction at three volumes, from a small finance team to a busy shared-services desk, next to a flat tool that returns the finished spreadsheet.

For comparison, InvoiceExtractor Starter is $49 a month for 2,500 pages and Plus is $149 a month for 10,000 pages, with header fields, line items and Excel, CSV and JSON exports included and no schema to write. Teams that want JSON in their own system can call the invoice data extraction API on the Pro plan instead.

Line items are where the cheap tier gets expensive

A header field sits in one place on the page. A 40-row table that runs onto page two is where parsers drop rows, merge descriptions or misread a quantity. That is why LlamaParse sells an Agentic tier at three times the Cost-effective price, and why your test set should be full of long invoices.

Is LlamaParse more accurate than Mistral OCR?

There is no independent invoice benchmark that settles it. LlamaIndex published a comparison in which Mistral OCR trailed LlamaParse's higher modes on complex tables, headings and reading order. Mistral reports a score of 85.20 on OlmOCRBench for OCR 4 and human preference wins against competing systems. Each vendor ran the test it publishes, so treat both as claims until your own invoices have been through each engine.

What the products themselves tell you: LlamaParse lets you route clean documents to a cheap tier and hard ones to Agentic, which is useful when a batch mixes digital PDFs with faxed scans. Mistral gives you one engine at one price, which is easier to forecast, and returns bounding boxes so a reviewer can find a value on the page.

Which one is better for invoices?

Pick Mistral OCR if you want the lowest cost for schema-based invoice fields, one flat rate, or a self-hosted container. Pick LlamaParse if your invoices include long, messy tables that need an agentic tier, or your retrieval stack already runs on LlamaIndex. Pick neither if what you actually need is a spreadsheet of invoice rows and nobody wants to own a parsing pipeline.

Both are general document parsers. They will not reconcile a line total against the invoice total, split a multi-invoice PDF by vendor, or format a QuickBooks import unless you write that code. Our invoice line item extraction already handles continuation rows, credit memos and multi-page invoices, and the LLM invoice extraction page explains how the model choice is handled for you.

Deployment, data handling and limits

If invoices carry protected health information or you are bound by a data residency rule, both vendors route you to a sales contract, so the self-serve rate is not the one you will pay.

When a finished invoice tool is cheaper than either API

A parser API at $50 to $300 a month looks cheap next to a $149 subscription until an engineer spends two weeks on schema mapping, retries, validation and an export path, and then keeps maintaining it as vendors change layouts. Below about 50,000 pages a month, that time is the real cost of either API.

If you are still shortlisting engines, our LlamaParse vs Reducto and Gemini OCR vs Mistral OCR comparisons cover the other two pairings buyers ask about. If you would rather skip the build, upload an invoice at the top of this page and check the line items yourself.