D-Market Elektronik Hizmetler ve Ticaret A.S.

D-Market Elektronik Hizmetler ve Ticaret A.S.

HEPS
D-Market Elektronik Hizmetler ve Ticaret A.S.US flagNASDAQ Global Select
2.68
USD
+0.00
- -
848.58MMarket Cap
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
6
7.99
46.54
76.06
126.74
204.62
227.4
227.4
281.04
Basic EPS, GAAP
-0.49
-0.4
-2.87
-10.22
-22.93
0.43
-6.4
-15.31
-21.61
Free Cash Flow per Basic Share
0.36
0.95
2.61
-2.12
-3.28
22.24
14.7
23.83
17.64
Dividend per Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
Book Value per Share
-1.1
-0.95
-2.42
14.76
10.32
14.63
13.34
5.63
-1.63
Tangible Book Value per Share
-1.26
-1.15
-2.69
13.52
6.05
6.42
1.05
-5.21
-14.22
Basic Weighted Avg Shares
326
326
326
326
302
328
328
372
342
Sales/Revenue/Turnover
1,955
2,604
15,172
24,792
38,229
67,199
74,670
84,652
96,203
Operating Margin (%)
-2.4
4.12
-5.13
-25.57
-17.09
-1.81
0.76
-1.07
-1.48
Depreciation Expense
78
66
302
637
1,220
2,219
2,681
3,171
3,175
Net Income, GAAP
-161
-132
-937
-3,330
-6,917
143
-2,101
-5,699
-7,398
Effective Tax Rate (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
Profit Margin (%)
-8.25
-5.06
-6.17
-13.43
-18.09
0.21
-2.81
-6.73
-7.69
Working Capital
-473
-427
-966
3,605
1,042
1,412
-957
-3,723
-7,441
LT Debt
106
58
93
167
191
180
764
778
862
Total Equity
-358
-311
-787
4,812
3,366
4,769
4,348
2,012
-582
Return on Invested Capital (%)
- -
- -
- -
- -
- -
-25.28
- -
- -
- -
Return on Capital (%)
- -
- -
- -
- -
- -
59.23
- -
- -
- -
Return on Common Equity (%)
- -
- -
- -
- -
-169.16
3.51
-46.09
-179.24
-623.15

Capital Structure

FRC

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
1,647
1,659
1,506
LT Borrowings
- -
- -
- -
LT Finance Leases
778
610
862
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
357
357
357
Market Capitalization
38,720
42,369
48,499

Working Capital

FRC

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
29,667
24,437
24,527
Cash, Cash Equivalents & STI
13,324
9,845
9,041
Accounts Receivable, Net
6,239
4,865
5,321
Inventories
8,729
8,210
8,874
Total Current Liabilities
33,390
29,803
31,968
Payables & Accruals
27,035
22,300
24,703
ST Debt
1,647
1,659
1,506
Deferred Revenue
3,159
2,718
2,447

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
-152.42%
-53.73%
Free Cash Flow
- -
-185.11%
83.78%
Net Income, GAAP
- -
-227.83%
171.3%
Sales/Revenue/Turnover
- -
43.58%
13.37%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
15,619
13,657
16,317
20,436
74,670
2025
18,828
22,120
19,920
30,336
84,652
2026
23,137
22,811
- -
- -
- -

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-0.6
-1.6
-1.3
-2.17
-6.4
2025
-1.4
-2.9
-4.1
-10.35
-15.31
2026
-2.7
-5.1
- -
- -
- -

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -

Company Description

CEO
Ender Özgün
Full Time Employees
3,611
Sector
Consumer Cyclical
Industry
Specialty Retail
Address
Kustepe Mahallesi Mecidiyekoy Istanbul IB Türkiye 34387
IPO Date
Jul 1, 2021
Business
D-Market Elektronik Hizmetler ve Ticaret A.S. (HEPS) operates as a leading e-commerce platform in Turkey under the Hepsiburada brand, offering a wide range of consumer products through its online retail website www.hepsiburada.com and integrated services. The company provides electronics and non-electronics items including books, sports equipment, toys, kids and baby products, cosmetics, furniture, apparel, groceries, home appliances, and automotive parts; it also delivers over 195 million items across more than 30 categories such as fashion, personal care, pet supplies, and hobby goods. Core services encompass Hepsiburada Market for third-party marketplace sales and on-demand delivery, HepsiJet for last-mile delivery and two-man cargo handling, HepsiLojistik for fulfillment, HepsiMat for pick-up and drop-off points, HepsiAd for advertising, Hepsipay and Hepsifinans for e-wallets, payments, buy-now-pay-later financing, consumer lending, and debit cards, Hepsiburada Seyahat for airline tickets, Hepsiburada Premium loyalty program with free delivery and cashback, and Hepsiglobal for cross-border sales. Founded in 2000 and headquartered in Istanbul, Turkey, at Kustepe Mahallesi Mecidiyekoy Yolu Cad. No: 12, the company primarily serves the Turkish market with expansion into international sales via Hepsiglobal and operates in the internet retail sector of consumer discretionary, targeting individual consumers, merchants, and businesses through hybrid direct sales and marketplace models. In October 2024, Joint Stock Company Kaspi.kz acquired a controlling 65.41% stake for $1.1 billion, establishing D-Market as its subsidiary and enabling strategic synergies in fintech and logistics across Turkey and Kazakhstan; this followed Q2 2025 advancements in logistics diversification with HepsiJet handling 74% of parcels, fintech expansion via Hepsipay to over 17 million users, and marketplace growth to 70.4% of gross merchandise value.

Company News

  • Contrasting D-MARKET Electronic Services & Trading (NASDAQ:HEPS) & Seven and I (OTCMKTS:SVNDY)

  • AUDITED FINANCIAL RESULTS FOR THE YEAR ENDED 30 JUNE 2026

  • Hepsiburada Announces Second Quarter 2026 Financial Results

  • Hepsiburada to Announce Second Quarter 2026 Results on August 6, 2026

  • Hepsiburada Announces Extraordinary General Assembly Meeting

  • Hepsiburada Announces Completion of Planned CEO Transition and New Leadership Structure

  • Hepsiburada Announces First Quarter 2026 Financial Results

  • Hepsiburada Announces First Quarter 2026 Financial Results

  • Hepsiburada to Announce First Quarter 2026 Results on May 7, 2026

  • D-MARKET Electronic Services & Trading (NASDAQ:HEPS) & Prosus (OTCMKTS:PROSY) Head to Head Contrast

  • Reviewing Boohoo Group (OTCMKTS:BHOOY) & D-MARKET Electronic Services & Trading (NASDAQ:HEPS)

  • Token Cat (NASDAQ:TC) and D-MARKET Electronic Services & Trading (NASDAQ:HEPS) Head to Head Review

  • Hepsiburada Announces Fourth Quarter and Full Year 2025 Financial Results

  • D-MARKET Electronic Services & Trading (NASDAQ:HEPS) and Newegg Commerce (NASDAQ:NEGG) Financial Survey

  • D-MARKET Electronic Services & Trading Unsponsored ADR (NASDAQ:HEPS) Given Average Rating of “Reduce” by Analysts

  • Head-To-Head Contrast: Future FinTech Group (NASDAQ:FTFT) vs. D-MARKET Electronic Services & Trading (NASDAQ:HEPS)

  • Financial Analysis: MercadoLibre (NASDAQ:MELI) vs. D-MARKET Electronic Services & Trading (NASDAQ:HEPS)

  • Brokerages Set D-MARKET Electronic Services & Trading Unsponsored ADR (NASDAQ:HEPS) Target Price at $3.29

  • Hepsiburada Announces Extraordinary General Assembly Meeting

  • Hepsiburada Submits Amendment to 6-K