WallStSmart

D-MARKET Electronic Services & Trading ADR (HEPS)vsSea Ltd (SE)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

D-MARKET Electronic Services & Trading ADR generates 148% more annual revenue ($62.56B vs $25.19B). SE leads profitability with a 6.4% profit margin vs -7.0%. SE earns a higher WallStSmart Score of 58/100 (C).

HEPS

Avoid

33

out of 100

Grade: F

Growth: 8.0Profit: 2.5Value: 5.0Quality: 3.0
Piotroski: 3/9Altman Z: 0.93

SE

Buy

58

out of 100

Grade: C

Growth: 8.0Profit: 5.5Value: 6.7Quality: 7.3
Piotroski: 6/9
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

Intrinsic value data unavailable for HEPS.

SEUndervalued (+53.1%)

Margin of Safety

+53.1%

Fair Value

$243.96

Current Price

$86.56

$157.40 discount

UndervaluedFair: $243.96Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

HEPS2 strengths · Avg: 10.0/10
Price/BookValuation
1.0x10/10

Reasonable price relative to book value

Revenue GrowthGrowth
60.8%10/10

Revenue surging 60.8% year-over-year

SE3 strengths · Avg: 9.3/10
Revenue GrowthGrowth
46.6%10/10

Revenue surging 46.6% year-over-year

Market CapQuality
$57.05B9/10

Large-cap with strong market position

Debt/EquityHealth
0.289/10

Conservative balance sheet, low leverage

Areas to Watch

HEPS4 concerns · Avg: 3.3/10
EPS GrowthGrowth
0.0%4/10

0.0% earnings growth

Market CapQuality
$939.50M3/10

Smaller company, higher risk/reward

Operating MarginProfitability
0.0%3/10

Operating margin of 0.0%

Debt/EquityHealth
1.863/10

Elevated debt levels

SE4 concerns · Avg: 3.3/10
P/E RatioValuation
36.7x4/10

Premium valuation, high expectations priced in

EPS GrowthGrowth
3.1%4/10

3.1% earnings growth

Profit MarginProfitability
6.4%3/10

6.4% margin — thin

Free Cash FlowQuality
$02/10

Negative free cash flow — burning cash

Comparative Analysis Report

WallStSmart Research

Bull Case : HEPS

The strongest argument for HEPS centers on Price/Book, Revenue Growth. Revenue growth of 60.8% demonstrates continued momentum.

Bull Case : SE

The strongest argument for SE centers on Revenue Growth, Market Cap, Debt/Equity. Revenue growth of 46.6% demonstrates continued momentum. PEG of 1.36 suggests the stock is reasonably priced for its growth.

Bear Case : HEPS

The primary concerns for HEPS are EPS Growth, Market Cap, Operating Margin. Debt-to-equity of 1.86 is elevated, increasing financial risk.

Bear Case : SE

The primary concerns for SE are P/E Ratio, EPS Growth, Profit Margin.

Key Dynamics to Monitor

HEPS carries more volatility with a beta of 2.10 — expect wider price swings.

HEPS is growing revenue faster at 60.8% — sustainability is the question.

Monitor INTERNET RETAIL industry trends, competitive dynamics, and regulatory changes.

Bottom Line

SE scores higher overall (58/100 vs 33/100) and 46.6% revenue growth. Both earn "Buy" and "Avoid" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

D-MARKET Electronic Services & Trading ADR

CONSUMER CYCLICAL · INTERNET RETAIL · USA

D-MARKET Elektronik Hizmetler ve Ticaret Anonim Sirketi operates an e-commerce platform. The company is headquartered in Istanbul, Turkey.

Sea Ltd

CONSUMER CYCLICAL · INTERNET RETAIL · USA

Sea Limited is engaged in the digital entertainment, e-commerce and digital financial services businesses in Southeast Asia, Latin America, the rest of Asia and internationally. The company is headquartered in Singapore.

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