HEPS — Stock Film
STOCK FILMSCENE 1/11HEPS · $2.62
Stock Expert AI presents
HEPS
D-Market Elektronik Hizmetler ve Ticaret A.S
~5 min film100% real numbersplain English
WHAT DOES THIS COMPANY DO?
D-Market Elektronik Hizmetler ve Ticaret A.S. What it actually does.

Operates www.hepsiburada.com, a major e-commerce retail website in Turkey. Now — the numbers.

on the stock market since 2021
3,611 employees
$831.1M market value
WHERE DOES THE MONEY COME FROM?
65%Sales of goods
Sales of goodsDelivery service revenues 14%Marketplace revenues 11%Advertising 2%Subscription service 2%Other 6%
65% of all revenue comes from a single line: Sales of goods.

That much dependence is a risk in itself: if this one line weakens, the whole company feels it directly.

Revenue last year:
$1.7B
The loss that same year:
$117.3M
For every $1 it earns, the company spends $1.1.

The company closed last year at a loss: costs ran above sales. The picture changes only if spending is reined in.

THE SALES TREND
Sales are growing overall, with a pause along the way.

Average growth of 36% a year over the last 4 years. Red columns mark years that ended in a loss.

$510.1M
2021
2022
2023
2024
$1.7B
2025
In the vault right now:
$274.2M
DEBT: $49.9M
At this pace, that money lasts about 2.3 years.

Before the clock runs out, either sales must climb sharply or new money must come in. This is the most critical line in the whole picture.

THE PRICE TAG
MARKET VALUE / ANNUAL SALES
0.5×

This company is not turning a profit, so the market is pricing its sales instead: 0.5× for every dollar of annual revenue.

Against companies in its own sector, it looks cheaper than 34% of them.

No analyst target is on record for this company.

THE FIVE-YEAR JOURNEY
Below the peak, but no collapse.

The stock trades 59% below its peak. The market has trimmed its expectations for the company.

1
THE BRIGHT SIDE · 1/2
Sales keep climbing

Over the last 4 years, sales grew about 36% a year on average.

2
THE BRIGHT SIDE · 2/2
Sales are holding up

The company sells $1.7B a year; the problem isn’t sales — it’s costs running above that number.

1
THE RISKS · 1/3
The losses continue

A loss of $117.3M against $1.7B in annual sales.

2
THE RISKS · 2/3
A wildly swinging price

This stock swings about 2.1 times as much as the market average. Big rallies — and big drops — can both happen fast.

3
THE RISKS · 3/3
The cash has a countdown

At the current pace of spending, the cash lasts about 2.3 years. After that, the company needs to find new money.

FINALE · THE GRADE
D
30 / 100 · MoonshotScore

On our five-subject report card, HEPS sits behind the class. A low grade doesn’t mean “doomed” — it means “big claim, small proof.”

The takeaway: HEPS has solid sales but closed last year at a loss. The road back to profit runs through spending discipline.

The total grade weighs these five subjects against the sector — it isn’t a simple average of the five.

What would you like to do next?
Open the stock page →

Not covered, because the filings we hold do not carry it: earnings execution.

This was a film — not investment advice.
Data: FMP & company filings
Sep 11, 2026 · stockexpertai.com · Stock Film