D-Market Electronic Services & Trading (HEPS)

Nasdaq: HEPS · Retail-Catalog & Mail-Order Houses · Sisli Istanbul, TR · filing with the SEC since 2021

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Grade5.1

◀ Past 6.9● Present 4.5▶ Future 4.6

1 est.

Overview Business Financials Grade Forecast Sentiment Ownership People Filings Patents Chart

The grade of D-Market Electronic Services & Trading

Nine metrics read from its own filings, by tense

Headline grade

5.1/10

◀ Past6.925% of the headline

● Present4.545% of the headline

▶ Future4.630% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 8 read as filed from the record and 1 is an SI estimate, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

6.9/1025% of the headline grade · 3 of 3 filed

Surviving crises

as filed

7.8/10

Has it survived what it has been through?

No warning events in its filings since 2021.

weight 45% of this tense · 78th percentile among 29 sector filers · read for itself

From the record

D-Market Electronic Services & Trading's filings since 2021 show no warning events in the scan: no bankruptcy or receivership notice, no debt default notice, no exchange listing notice, no restatement warning, no auditor change, no material cyber incident and no late-report notice (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed

7.3/10

What has it actually done, year after year?

+85.4% a year over 6 filed years; profitable in 1 of 6.

weight 33% of this tense · 73rd percentile among 29 sector filers · read for its customers

From the record

D-Market Electronic Services & Trading's 6 filed years say what it did: revenue went from TRY 2.6 billion in fiscal 2019 to TRY 57 billion in fiscal 2024, up 85.4% a year; it rose in 5 of 5 years; it never fell from a peak; net income was positive in 1 of 6 of those years (its annual reports).

What it rests on

revenue growth over the filed span85.4%top 5% of its family
the share of years revenue rosetop 17% of its family
the share of filed years with a profitbottom 33% of its family
the deepest fall from a revenue peak0.0%top 17% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

as filed

4.6/10

How has it treated the people who own it?

Share count grew 2.5% a year. 0% of cash flow returned. Insiders: 0 sales, 0 purchases.

weight 22% of this tense · 46th percentile among 20 sector filers · read for its shareholders

From the record

Over the 3 fiscal years to 2024-12-31, D-Market Electronic Services & Trading's diluted share count grew about 2.5% a year, and dividends and buybacks returned about 0% of its operating cash flow over 3 years (its filed statements). Its officers and directors filed 0 sales and 0 purchases of their own stock on the open market in the year to 2026-09-30 (their Form 4 filings).

What it rests on

the share count over the yearstop 48% of its family
cash returned against operating cash flowbottom 40% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

● Present

What are they doing right now?

4.5/1045% of the headline grade · 2 of 3 filed, 1 estimated

Financial health

as filed

2.9/10

Is it financially healthy right now?

ROE -48%: lost 48¢ per shareholder dollar. Leverage 87%: owes 87¢ per asset dollar.

weight 45% of this tense · 29th percentile among 29 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2024-12-31, D-Market Electronic Services & Trading lost about 48 cents for every dollar of shareholders' money. Leverage: it owed about 87 cents per dollar of assets, and net share issuance: its share count grew 1.1% over the year (the filed statements).

What it rests on

what it owes per dollar of assetsbottom 19% of its family
return on equitybottom 13% of its family
the share count against the year beforetop 45% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed

6.4/10

How strong is its position in its industry?

top 36% of 29 in its family; net margin -2.8%.

weight 33% of this tense · 64th percentile among 29 sector filers · read for its customers

From the record

D-Market Electronic Services & Trading's standing among 29 graded names in its industry family: revenue of TRY 57 billion in fiscal 2024 is not ranked by size, since the family reports in another currency; a net margin of -2.8% ranks in the bottom 40%; revenue growth of 32% a year over the last 3 filed years ranks in the top 12% (its annual reports).

What it rests on

net margin-2.8%bottom 40% of its family
three-year revenue growth32.0%top 12% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

SI estimate

4.7/10

What are the people in charge doing?

SI estimate 4.7/10, confidence 20 of 100 (family median).

weight 22% of this tense · 50th percentile among 19 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate: It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-18 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge, so the desk assumes the typical reading of its industry family, the median of 19 members with one.
What the record cannot read: It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-18 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge.
How it was reasoned: family median, 19 readings behind it.
Confidence: 20 of 100
What would change it: Its next annual report on file with the inputs replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: D-Market Electronic Services & Trading's leadership is put at 4.7 of 10 with a confidence of 20 of 100, because it files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-18 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge, so the desk assumes the typical reading of its industry family, the median of 19 members with one. Its next annual report on file with the inputs replaces this estimate with the filed reading.

▶ Future

What are they set up to do next?

4.6/1030% of the headline grade · 3 of 3 filed

Room to expand

as filed

7.1/10

How much room does it have to grow?

top 29% of 29 in its family for room to expand.

weight 22% of this tense · 71st percentile among 29 sector filers · read for itself

From the record

D-Market Electronic Services & Trading's room to grow, from the newest filed statements (fiscal 2024): cash of TRY 6.8 billion against debt of TRY 1.7 billion leaves 19.4% of its assets as net cash, top 50% of its family; cash from operations less capital spending is 10% of revenue (top 9%) (its annual report).

What it rests on

cash less debt against assets19.4%top 50% of its family
cash from operations less capital spending against revenue10.0%top 9% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed

3.6/10

What could actually drive growth from here?

bottom 36% of 29 in its family for growth drivers.

weight 45% of this tense · 36th percentile among 29 sector filers · read for its customers

From the record

D-Market Electronic Services & Trading's growth drivers, from the filed years to fiscal 2024: revenue grew 32% a year over the last three filed years against 85.4% over all 6, slowing (bottom 2% of its family); the newest year grew 11.1% (top 29%) (its annual reports). D-Market Electronic Services & Trading tags no split of its revenue by line in the annual report on file, so growth by line cannot be read here; research and capital spending are on the trend.

What it rests on

three-year growth against the whole span-53.3 points a yearbottom 2% of its family
the newest year's revenue growth11.1%top 29% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed

4.2/10

Did its newest year beat what its own record pointed to?

bottom 42% of 25 in its family for expectations against reality.

weight 33% of this tense · 42nd percentile among 25 sector filers · read for its shareholders

From the record

D-Market Electronic Services & Trading's newest year against its own record: revenue of TRY 57 billion in fiscal 2024 came in 22.8% below the TRY 74 billion its prior three years' pace pointed to (bottom 10% of its family); net income of TRY 1.6 billion against a prior three-year average of TRY 3.4 billion (top 50%); a net margin of -2.8% against -10.4% before (top 34%) (its annual reports).

What it rests on

revenue against the prior three years' pace-22.8%bottom 10% of its family
net income against the prior three years' average+53%top 50% of its family
net margin against its prior average+7.6 pointstop 34% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton HEPS · research, not advice