NOORULT

D-MARKET Electronic Services & TradingHEPS

NasdaqConsumer SpendingRetail-Catalog & Mail-Order Houses
Price (close)
$2.36
Market cap
$843.1M
P/E
—
Revenue (FY)
$57.0B
Net income
-$1.6B
Dividend yield
—
1-year total return
-16.9%
Net margin
-2.8%
Revenue growth
11.1%
Debt / equity
—

What D-MARKET Electronic Services & Trading does.

We believe we are one of the leading commerce platforms in Türkiye and, as of December 31, 2025, we served approximately 11.8 million Active Customers with approximately 102.0 thousand Active Merchants. As of December 31, 2025, we had over 419 million SKUs, including variants (color, size, etc .) across 34 different product categories offered through a hybrid model combining a first-party Direct Sales model (1P model) and a third-party Marketplace model (3P model). We believe we offer a compelling value proposition, both for our customers and our merchants, including via our customer loyalty program, Hepsiburada Premium, our last-mile delivery and fulfillment services and diverse payment and affordability solutions.

Since the launch of our Marketplace in 2015, Hepsiburada has become a trustworthy partner for merchants in Türkiye. In 2025, our 3P-based Marketplace model accounted for approximately 68% of our GMV. We offer our merchants a seamless set of end-to-end e-commerce solutions which include our last-mile delivery services including oversized products delivery under Hepsijet , our fulfillment options under HepsiLojistik , affordability solutions for our consumers under Hepsipay and our advertising solutions under HepsiAd .

Revenue and profit, by fiscal year.

Fiscal year201920202021202220232024
Revenue$2.6B$15.2B$24.8B$38.2B$51.3B$57.0B
Net income-$131.6M-$936.6M-$3.3B-$6.9B$109.1M-$1.6B

More on HEPS.

Figures from D-MARKET Electronic Services & Trading's filings with the U.S. SEC, standardised automatically; prices are end-of-day closes. Not financial advice.