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Home CompaniesD-MARKET Electronic Services & Trading ADR

D-MARKET Electronic Services & Trading ADR

Consumer Cyclical Internet Retail
PortfolioPortfolio WatchlistWatchlist
Company price
2.73 USD -0.01 ( 0.36%)
Last update at 2026-11-06T21:00:00Z
VOLUME
255884
Market Cap
957.36M

Momentum Score

…

D-Market Elektronik Hizmetler ve Ticaret A.S. operates e-commerce platforms in Turkey. The company operates a retail website that provides electronics and non-electronics products, such as books, sports, toys, kids and baby products, cosmetics, furniture, etc. It also operates HepsiJet that provides last-mile delivery services; HepsiLojistik, which offers fulfillment services; HepsiMat, an offline network of pick-up and drop-off point; HepsiAd that provides advertising service; and Hepsipay and Hepsifinans, which offers e-wallet, e-money, payment facilitation services, and consumer lending. The company was incorporated in 2000 and is headquartered in Istanbul, Turkey. D-Market Elektronik Hizmetler ve Ticaret A.S. is a subsidiary of Joint Stock Company Kaspi.kz.

Source: TradingView
The charts and visual representations are sourced from TradingView through embedded widgets. For any issues with chart display, please visit the TradingView website

Day Price Range
2.56
Low
2.75
High
52 Week Price Range
2.15
Low
3.33
High

Momentum Score

…
Loading momentum score…

A unique technical analysis driven score developed by Kalkine showing momentum in stock prices based on select technical indicators identified.

Score - Rating
>= 1 - Low / > 1 but < 2 - Below Average / > 2 but < 3 - Average / > 3 but < 4 - Above Average / > 4 - High
AI Summary

D‑MARKET Electronic Services & Trading ADR is a Nasdaq‑listed American depositary receipt for a company that, based on its name and public filings, operates in electronic services and online trading. Long‑term growth drivers could include broader e‑commerce adoption, mobile and digital payment penetration, and expansion into adjacent digital services, which may benefit revenue scale and market reach; investors may view the ADR as a way to gain exposure to that market.
Key investment risks include limited disclosure and low ADR liquidity, currency volatility and regulatory exposure in the home market, and significant competitive and execution risks in digital commerce.

Risk Score
Medium

Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.

Key Metrics*

Previous Close
2.74
Dividend Yield
-
Revenue TTM
62563.02M
Revenue Per Share
190.69
Gross Profit TTM
15999.49M
Debt / Equity
1.21
ROE
-636.49%
Net Debt
-8881.81M
ROCE
-43.19%
Diluted EPS TTM
-0.42

Key Financials*

Income Statement

Balance Sheet

Change in Cash

Total Operating Cash

Dividends Paid

Breakdown 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Type yearly yearly yearly yearly yearly
Date 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Income before tax -5742.32M -1604.91M 75.53M -2899.81M -625.80M
Net income -5699.18M -1604.91M 75.53M -2906.36M -3330.69M
Selling general administrative 9955.16M 126.64M 3936.42M 1807.80M 859.31M
Selling and marketing expenses 16505.00M 10385.44M 2427.75M 1765.28M 1498.24M
Gross profit 30670.40M 21389.04M 7245.53M 3492.09M 1848.52M
Reconciled depreciation 3171.43M 2048.14M 757.30M 512.76M 140.93M
Ebit -1535.98M 1261.17M 1453.23M -3096.87M 390.87M
Ebitda 1635.45M 3309.31M 2627.36M -670.47M 531.79M
Depreciation and amortization 3171.43M 2048.14M 1174.13M 2426.40M 140.93M
Operating income -901.62M 16.96M -724.98M -3096.87M 390.87M
Other operating expenses 85553.44M 57029.60M 36283.50M 19166.26M 9327.27M
Interest expense 4206.34M 2866.07M 1377.70M 1710.03M 1016.67M
Tax provision -43.15M 0.00M 0.00M 0.00M 0.00M
Interest income 4136.43M 3104.27M 376.22M 1913.63M 2160.12M
Net interest income -7231.54M -4169.29M -1021.12M 203.60M 1143.45M
Income tax expense -43.15M - 2648.65M 6.55M 2704.88M
Total revenue 84651.82M 57046.56M 35558.52M 16069.39M 7558.00M
Total operating expenses 31572.02M 21372.08M 7970.50M 6588.95M 3617.79M
Cost of revenue 53981.42M 35657.52M 28312.99M 12577.31M 5709.48M
Total other income expense net -4840.70M -1621.87M 800.51M 197.05M -1016.67M
Net income from continuing ops -5699.18M -1604.91M 1274.18M -2899.81M -625.80M
Net income applicable to common shares - - - - -700.08M
Breakdown 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Type yearly yearly yearly yearly yearly
Date 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Total assets 36946.59M 26144.92M 17580.62M 10067.37M 7881.36M
Intangible assets 3872.14M 3058.64M 1853.30M 845.64M 202.80M
Other current assets 1248.54M 603.05M 45.27M 514.11M 199.79M
Total liab 34934.99M 22823.44M 14277.84M 8009.60M 5077.66M
Total stockholder equity 2011.60M 3321.48M 3302.78M 2057.77M 2803.70M
Other current liab 2704.36M 1634.43M 814.11M 921.62M 248.22M
Common stock 949.54M 719.96M 498.66M 302.63M 65.20M
Capital stock 949.54M 719.96M 498.66M 302.63M 65.20M
Retained earnings -18330.09M -19164.88M -12147.15M -2950.70M -1662.34M
Other liab - - - - 102.70M
Good will 0.54M 0.41M 0.28M 0.17M -
Other assets - - - - 297.26M
Cash 11307.63M 6750.18M 5500.00M 5266.01M 3947.09M
Total current liabilities 33390.28M 21586.03M 13646.09M 7730.67M 4873.03M
Current deferred revenue 3158.94M 2434.95M 1930.93M 752.05M 260.17M
Net debt -8881.81M -4515.38M -5037.33M -4979.67M -3542.65M
Short term debt 1647.49M 1651.12M 338.05M 170.46M 302.49M
Short long term debt 596.55M 1242.03M 183.47M 13.05M 193.18M
Short long term debt total 2425.82M 2234.80M 462.67M 286.34M 404.43M
Other stockholder equity 19392.14M 20665.69M 14313.52M 8789.90M 5923.08M
Property plant equipment - - - - 296.30M
Total current assets 29667.19M 20854.69M 14624.24M 8378.15M 7085.01M
Net tangible assets - - - - 2473.38M
Short term investments 2016.09M 2384.74M 1722.74M 17.56M 1024.44M
Net receivables 6365.66M 5115.26M 2745.94M 684.80M 234.23M
Long term debt - - 2.81M 10.92M -
Inventory 8729.27M 6001.46M 3964.99M 1788.25M 1639.48M
Accounts payable 25879.49M 14973.75M 10563.00M 5886.54M 4062.15M
Accumulated other comprehensive income - 1100.70M -11509.41M -7034.76M -1522.24M
Non currrent assets other 67.31M 100.00M 34.52M 66.88M 297.26M
Non current assets total 7279.40M 5290.23M 2956.37M 1689.22M 796.35M
Capital lease obligations 1829.27M 992.77M 276.39M 262.37M 211.25M
Breakdown 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Type yearly yearly yearly yearly yearly
Date 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Investments 1009.21M 894.71M -263.44M 1096.09M -882.21M
Change to liabilities - - - - 2106.14M
Total cashflows from investing activities -1517.43M -25.38M -92.01M - -1095.79M
Net borrowings -2592.68M 960.87M -158.66M - -267.29M
Total cash from financing activities 1713.85M 29.23M -6.63M -1474.42M 3291.19M
Change to operating activities - - - - -161.51M
Net income -6184.80M -48.83M 3.17M -2899.81M -625.80M
Change in cash 3144.99M 2.83M -95.16M 1025.89M 3353.61M
Begin period cash flow 8361.79M 191.89M 287.05M 6262.95M 592.28M
End period cash flow 11506.78M 194.72M 191.89M 7288.84M 3945.89M
Total cash from operating activities 4806.95M 18.25M 99.09M 428.75M 89.47M
Issuance of capital stock 4171.96M 0.00M 0.00M 0.00M 4081.61M
Depreciation 3441.67M 62.31M 49.29M 512.76M 140.93M
Other cashflows from investing activities - 43.89M 25.15M - -
Dividends paid 0.00M 0.00M 0.00M 0.00M 0.00M
Change to inventory -1257.27M -10.78M -49.31M 1098.57M -864.56M
Change to account receivables -643.23M -37.92M -57.86M -285.20M -74.86M
Sale purchase of stock 0.00M 0.00M -2.02M - -
Other cashflows from financing activities -1219.30M -14.34M -12.91M -105.23M 1226.92M
Change to netincome - - - - -404.98M
Capital expenditures 2620.62M 61.17M 48.43M 845.15M 214.79M
Change in working capital 2958.86M -58.70M -64.48M 438.49M 1053.61M
Stock based compensation 216.07M 359.97M 106.40M 152.10M 85.27M
Other non cash items 4591.22M 63.46M 111.11M 2225.21M 541.10M
Free cash flow 2186.34M -42.92M 50.66M -416.40M -125.31M

Peer Comparison*

Sector: Consumer Cyclical Industry: Internet Retail

Stock Name
Change
(USD)
Price
(USD)
Trailing
PE (x)
Forward
PE (x)
Price Sales
TTM (x)
Price to Book Value (x)
Enterprise Value
to Revenue (x)
Enterprise Value
to EBITDA (x)
HEPS
D-MARKET Electronic Services & Trading ADR		 -0.01
0.36%		 2.73 - - 0.52 40.62 0.43 37.34
AMZN
Amazon.com Inc		 -1.20
0.46%		 259.01 34.61 30.77 3.75 6.54 3.79 16.44
BABAF
Alibaba Group Holding Ltd		 0.13
0.96%		 13.63 24.65 20.62 0.33 2.20 2.17 16.99
BABA
Alibaba Group Holding Ltd		 1.38
1.28%		 109.45 24.68 20.58 0.33 2.20 2.17 16.98
PDD
PDD Holdings Inc.		 -0.92
1.10%		 83.03 20.54 13.26 0.62 5.93 0.50 1.74

Profile*

D-MARKET Electronic Services & Trading ADR

D-Market Elektronik Hizmetler ve Ticaret A.S. operates e-commerce platforms in Turkey. The company operates a retail website that provides electronics and non-electronics products, such as books, sports, toys, kids and baby products, cosmetics, furniture, etc. It also operates HepsiJet that provides last-mile delivery services; HepsiLojistik, which offers fulfillment services; HepsiMat, an offline network of pick-up and drop-off point; HepsiAd that provides advertising service; and Hepsipay and Hepsifinans, which offers e-wallet, e-money, payment facilitation services, and consumer lending. The company was incorporated in 2000 and is headquartered in Istanbul, Turkey. D-Market Elektronik Hizmetler ve Ticaret A.S. is a subsidiary of Joint Stock Company Kaspi.kz.

Kustepe Mahallesi MecidiyekOey Yolu, Istanbul, Turkey, 34387

90 212 304 20 00

https://www.hepsiburada.com

3611

Name Title Year Born
Mr. Mehmet Murat Emirdag CEO & Director 1979
Mr. Halil Korhan Oz Chief Financial Officer 1970
Mr. Alexey Shevenkov Chief Technology Officer 1984
Mr. Gurkan Coskuner Chief Information Officer 1979
Helin Sinem Celikbilek Investor Relations Director NA
Harika Eldogan Head of PR NA
Mr. Ender Ozgun Chief Marketing Officer 1982
Ms. Esra Beyzadeoglu Chief People & Culture Officer 1978
Mr. Murat Buyumez Chief Commercial Officer NA
Mr. Mehmethan Yallagoz Chief Logistics Officer 1971

Disclaimer - (*)This information, including any data, is sourced from Unicorn Data Services SAS, trading as EOD Historical Data (“EODHD”) on an ‘as is’ basis, using their API. We cannot guarantee the completeness or validity of the information and data provided on this page, as well as via the API. In some cases, the data may include analyst ratings or recommendations sourced through the EODHD API, which are intended solely for general information purposes.
This information does not consider your personal objectives, financial situation, or needs. Kalkine is not liable for any errors or omissions in the information provided or for any actions taken in reliance on it. You should seek advice from a financial adviser, stockbroker or other professional adviser (including taxation and legal advice) as necessary before acting on this information.

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