HEPS
D-MARKET Electronic Services & Trading ADR
NASDAQ: HEPS · CONSUMER CYCLICAL · INTERNET RETAIL
$2.78
+0.00% today
Updated 2026-04-30
Market cap
$1.01B
P/E ratio
—
P/S ratio
0.47x
EPS (TTM)
$-0.40
Dividend yield
—
52W range
$2 – $3
Volume
0.2M
D-MARKET Electronic Services & Trading ADR (HEPS) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.96B | $2.60B | $15.17B | $24.79B | $38.23B | $35.56B | $57.05B | $91.86B |
| Revenue growth (YoY) | — | +33.2% | +482.7% | +63.4% | +54.2% | -7.0% | +60.4% | +61.0% |
| Cost of revenue | $1.52B | $1.85B | $11.85B | $19.44B | $29.92B | $28.31B | $35.66B | $71.93B |
| Gross profit | $436.09M | $756.63M | $3.32B | $5.35B | $8.31B | $7.25B | $21.39B | $19.93B |
| Gross margin | 22.3% | 29.1% | 21.9% | 21.6% | 21.7% | 20.4% | 37.5% | 21.7% |
| R&D | $20.58M | $21.84M | $75.45M | $230.48M | $382.56M | $926.66M | $740.63M | — |
| SG&A | $167.20M | $189.16M | $842.05M | $2.89B | $4.80B | $3.94B | $126.64M | — |
| Operating income | $-51.53M | $101.11M | $-827.66M | $-6.78B | $-7.38B | $-724.98M | $16.96M | $-2.20B |
| Operating margin | -2.6% | 3.9% | -5.5% | -27.3% | -19.3% | -2.0% | 0.0% | -2.4% |
| EBITDA | $-35.95M | $3.32M | $-295.23M | $-2.11B | $-4.89B | $2.63B | $3.31B | $1.24B |
| EBITDA margin | -1.8% | 0.1% | -1.9% | -8.5% | -12.8% | 7.4% | 5.8% | 1.3% |
| EBIT | $-114.22M | $-62.97M | $-596.85M | $-2.75B | $-6.11B | $1.45B | $1.26B | $-2.20B |
| Interest expense | $47.10M | $40.55M | $301.51M | $579.19M | $809.26M | $1.38B | $2.87B | $13.02B |
| Income tax | — | — | — | — | — | — | — | — |
| Effective tax rate | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net income | $-161.32M | $-131.65M | $-936.59M | $-3.33B | $-6.92B | $75.53M | $-1.60B | $-6.18B |
| Net income growth (YoY) | — | +18.4% | -611.4% | -255.6% | -107.7% | +101.1% | -2224.7% | -285.4% |
| Profit margin | -8.3% | -5.1% | -6.2% | -13.4% | -18.1% | 0.2% | -2.8% | -6.7% |