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NASDAQ · RETAIL-CATALOG & MAIL-ORDER HOUSES · MID CAP

D-market Electronic Services & Trading HEPS

6 fiscal years on record · TRY · FY2024 reported · SEC filings only
TRY 57.0B
▲ 11.1% YoY
TRY -1.6B
▼ 1571.7% YoY

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

On that date it offered over 419 million SKUs, including variants, across 34 different product categories. In 2025 the third-party Marketplace model accounted for approximately 68% of GMV. Of total revenues for the year ended December 31, 2025, TRY 57.1 billion came from Direct Sales, TRY 9.9 billion from Marketplace sales, TRY 12.3 billion from delivery services and TRY 5.3 billion from other services. Merchants are offered a set of end-to-end e-commerce solutions that covers last-mile delivery services under Hepsijet, including delivery of oversized products, fulfillment options under HepsiLojistik, affordability solutions for consumers under Hepsipay and advertising solutions under HepsiAd. Hepsijet operated in all 81 cities in Türkiye with 258 cross-docks. Hepsiburada started operations in 2000.

Written from the business description in D-MARKET Electronic Services & Trading's annual report to the U.S. Securities and Exchange Commission, filed 30 April 2026. Every sentence was checked against that document before publication.

Growth

TRY 57.0B
Revenue, FY2024 · full 6-year series below
Revenue TRY B Net income TRY B
FY2024 · Revenue 57.0 · Net income -1.6
20.0B40.0B-2.5B-5.0B
201920222024
Compound annual growth
+32.0%
+85.4%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +85.4% a year over the five years to FY2024.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

−3 cents
lost on every revenue dollar
Operating margin Net margin
FY2024 · Operating 0.0% · Net -2.8%
1%2%3%-10%-20%
201920212024
ROE
FY2024 · ROE -39.7%
-10%-20%-30%
201920212024
Three returns, three denominators.

Each TRY of equity lost 40 cents this year.

Cash & shareholders

·
returned in FY2024 · dividends + net buybacks
Net buybacks TRY M Dividends TRY M
FY2023 · Dividends · · Net buybacks 69.3
25.0M50.0M
2023

Total assetsTRY 26.1B
EquityTRY 3.3B
CashTRY 6.8B
Gross debtTRY 1.7B
Net debtTRY -5.1B
Current ratio0.97×

The company holds more cash than debt.

The 6-year record

6 fiscal years
Every figure from documents filed with the SEC · TRY

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative—not applicable◌not available in our data
HEPS, 6-year financial record
Metric 202420232022202120202019
Revenue TRY B57.051.338.224.815.22.6
Operating income TRY B0.0−1.0−7.4−6.8−0.80.1
EBITDA TRY B2.10.6−6.2−6.1−0.50.2
Income tax TRY B0.00.00.0◌◌◌
Net income TRY B−1.60.1−6.9−3.3−0.9−0.1
EPS, diluted TRY −4.900.30−21.20−10.93−3.29−0.46
Dividend / sh TRY ◌◌◌◌◌◌
Payout % — not applicable: no dividend——————
ROE %−39.72.3◌———

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

More in this sector

Other companies filing in the same sector

Provenance

Company facts, as filed

How we verify · 0 failures · 1 divergence in 23 reconciliationsAUDITED

Reconciled in 5 of the 6 fiscal years we could check. 1 of those reconciliations are divergences — the figures exist but don't fit the formula this check expects; that isn't the same as an error. 26 checks were skipped: the balance sheet is not tagged before 2020. 12 checks were skipped: EPS is not tagged before 2019. 12 checks were skipped: revenue is not tagged before 2019.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures1 divergent
ActivityRetail-Catalog & Mail-Order Houses
Listed onNASDAQ
Incorporated inoutside the United States — SEC code W8
Fiscal year endsDecember 31
Data on record since2018

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