D-Market Electronic Services & Trading (HEPS) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Nov 5, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 20-F for FY2025, filed Apr 30, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the HEPS SEC filings page.
D-Market Electronic Services & Trading (HEPS) reported $2.0B in revenue for fiscal year 2025, up 22.1% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 5 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (20-F and 6-K reports).
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of D-Market Electronic Services & Trading's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
D-Market Electronic Services & Trading has an operating margin of -2.4%, meaning the company loses $2 on every $100 of revenue. This results in a profitability score of 30/100. This is down from 0.0% the prior year.
D-Market Electronic Services & Trading's revenue surged 22.1% year-over-year to $2.0B, reflecting rapid business expansion. This strong growth earns a score of 88/100.
D-Market Electronic Services & Trading carries a low D/E ratio of 0.00, meaning only $0.00 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 99/100, indicating a strong balance sheet with room for future borrowing.
D-Market Electronic Services & Trading's current ratio of 0.89 is below the typical benchmark, resulting in a score of 15/100. This tight liquidity could limit financial flexibility if cash inflows slow.
D-Market Electronic Services & Trading has a free cash flow margin of 10.5%, earning a moderate score of 64/100. The company generates positive cash flow after capital investments, but with room for improvement.
D-Market Electronic Services & Trading posts a -283.3% return on equity (ROE), meaning it loses $283 for every $100 of shareholders' equity. This results in a returns score of 17/100. This is down from -48.3% the prior year.
D-Market Electronic Services & Trading scores 2.16, placing it in the grey zone between 1.81 and 2.99. The largest contribution to the score comes from revenue of $2.0B against total assets of $859.9M. This signals moderate financial risk that warrants monitoring.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
D-Market Electronic Services & Trading passes 3 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), the one computable operating efficiency signal (asset turnover improving) passes.
D-Market Electronic Services & Trading reported a net loss of $132.6M while generating $262.6M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.
D-Market Electronic Services & Trading reported an operating loss of $47.2M against $279.2M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
D-Market Electronic Services & Trading generated $2.0B in revenue in fiscal year 2025. This represents an increase of 22.1% from the prior year.
D-Market Electronic Services & Trading's EBITDA was $26.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 54.5% from the prior year.
D-Market Electronic Services & Trading reported a net loss of $132.6M in fiscal year 2025. The change from the prior year is not meaningful, because that figure was zero or negative.
D-Market Electronic Services & Trading earned -$0.36 per diluted share (EPS) in fiscal year 2025. The change from the prior year is not meaningful, because that figure was zero or negative.
Cash & Balance Sheet
D-Market Electronic Services & Trading generated $206.4M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 98.0% from the prior year.
D-Market Electronic Services & Trading held $263.2M in cash against $0 in long-term debt as of fiscal year 2025, with $777.2M of liabilities due within a year.
Not reported for fiscal year 2025.
Margins & Returns
D-Market Electronic Services & Trading's operating margin was -2.4% in fiscal year 2025, reflecting core business profitability. This is down 2.4 percentage points from the prior year.
D-Market Electronic Services & Trading's net profit margin was -6.7% in fiscal year 2025, showing the share of revenue converted to profit. This is down 3.9 percentage points from the prior year.
D-Market Electronic Services & Trading's ROE was -283.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 235.0 percentage points from the prior year.
Not reported for fiscal year 2025.
Capital Allocation
D-Market Electronic Services & Trading invested $56.2M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 1.1% from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
HEPS Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2520-F | FY2420-F | FY2320-F | FY2220-F | FY2120-F |
|---|---|---|---|---|---|
| Revenue | $2.0B+22.1% | $1.6B+34.1% | $1.2B+40.2% | $858.5M+52.8% | $561.9M |
| Operating Income | -$47.2M-9952.0% | $480Kn/m | -$24.5Mn/m | -$165.8Mn/m | -$137.1M |
| EBITDA | $26.6M-54.5% | $58.4M+284.2% | $15.2Mn/m | -$138.4Mn/m | -$126.6M |
| Interest Expense | $279.2M+28.9% | $216.6M+59.6% | $135.7M+48.5% | $91.4M+20.9% | $75.6M |
| Income Tax | -$1.0Mn/m | $0 | N/A | N/A | N/A |
| Net Income | -$132.6Mn/m | -$45.4M-1875.6% | $2.6Mn/m | -$155.3Mn/m | -$52.1M |
| EPS (Basic) | -$0.36n/m | -$0.14-1876.9% | $0.01n/m | -$0.48n/m | -$0.17 |
| EPS (Diluted) | -$0.36n/m | -$0.14-1876.9% | $0.01n/m | -$0.48n/m | -$0.17 |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Diluted Shares (Avg).
HEPS Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2520-F | FY2420-F | FY2320-F | FY2220-F | FY2120-F |
|---|---|---|---|---|---|
| Total Assets | $859.9M+16.3% | $739.4M+24.3% | $594.9M+10.6% | $537.8M-8.2% | $586.0M |
| Current Assets | $690.5M+17.1% | $589.8M+19.2% | $494.9M+10.6% | $447.6M-15.0% | $526.8M |
| Cash & Equivalents | $263.2M+37.9% | $190.9M+2.6% | $186.1M-33.8% | $281.3M-0.8% | $283.5M |
| Inventory | $203.2M+19.7% | $169.7M+26.5% | $134.2M+40.4% | $95.5M-21.6% | $121.9M |
| Goodwill | $90.1M+4.2% | $86.5M+37.9% | $62.7M+38.8% | $45.2M | N/A |
| Total Liabilities | $813.1M+26.0% | $645.4M+33.6% | $483.2M+12.7% | $428.7M+10.8% | $387.0M |
| Current Liabilities | $777.2M+27.3% | $610.4M+32.2% | $461.8M+11.6% | $413.8M+11.3% | $371.8M |
| Non-Current Liabilities | $36.0M+2.7% | $35.0M+63.7% | $21.4M+43.5% | $14.9M-2.1% | $15.2M |
| Long-Term Debt | $0n/m | $0-100.0% | $95K-83.7% | $584Kn/m | $0 |
| Total Equity | $46.8M-50.2% | $93.9M-16.0% | $111.8M+2.4% | $109.1M-45.2% | $199.0M |
| Retained Earnings | -$426.6Mn/m | -$542.0Mn/m | -$411.1Mn/m | -$393.9Mn/m | -$129.1M |
Not reported in any period shown, so not listed: Short-Term Investments, Accounts Receivable, Long-Term Investments.
HEPS Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2520-F | FY2420-F | FY2320-F | FY2220-F | FY2120-F |
|---|---|---|---|---|---|
| Operating Cash Flow | $262.6M+63.0% | $161.1M-5.1% | $169.8M+641.2% | $22.9M+244.5% | $6.7M |
| Depreciation & Amortization | $73.8M+27.4% | $57.9M+45.8% | $39.7M+45.0% | $27.4M+161.4% | $10.5M |
| Capital Expenditures | $56.2M-1.1% | $56.9M+45.6% | $39.0M-13.6% | $45.2M+182.8% | $16.0M |
| Free Cash Flow | $206.4M+98.0% | $104.3M-20.3% | $130.8Mn/m | -$22.3Mn/m | -$9.3M |
| Investing Cash Flow | $59.7M+136.0% | $25.3Mn/m | -$56.8M-197.0% | $58.5Mn/m | -$81.5M |
| Financing Cash Flow | -$215.0Mn/m | -$165.9Mn/m | -$112.7Mn/m | -$78.8M-132.2% | $244.7M |
| Share Buybacks | N/A | N/A | $5.7M | N/A | N/A |
Not reported in any period shown, so not listed: Stock-Based Compensation, Dividends Paid.
HEPS Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2520-F | FY2420-F | FY2320-F | FY2220-F | FY2120-F |
|---|---|---|---|---|---|
| Operating Margin | -2.4%-2.4pp | 0.0%+2.1pp | -2.0%+17.3pp | -19.3%+5.1pp | -24.4% |
| Net Margin | -6.7%-3.9pp | -2.8%-3.0pp | 0.2%+18.3pp | -18.1%-8.8pp | -9.3% |
| Return on Equity | -283.3%-235.0pp | -48.3%-50.6pp | 2.3%+144.6pp | -142.3%-116.2pp | -26.2% |
| Return on Assets | -15.4%-9.3pp | -6.1%-6.6pp | 0.4%+29.3pp | -28.9%-20.0pp | -8.9% |
| Current Ratio | 0.89-0.1x | 0.97-0.1x | 1.070.0x | 1.08-0.3x | 1.42 |
| Debt-to-Equity | 0.000.0x | 0.000.0x | 0.000.0x | 0.010.0x | 0.00 |
| Liabilities-to-Equity | 17.37+10.5x | 6.87+2.5x | 4.32+0.4x | 3.93+2.0x | 1.95 |
| Asset Turnover | 2.29+0.1x | 2.18+0.2x | 2.02+0.4x | 1.60+0.6x | 0.96 |
| FCF Margin | 10.5%+4.0pp | 6.5%-4.4pp | 10.9%+13.5pp | -2.6%-0.9pp | -1.7% |
Not reported in any period shown, so not listed: Gross Margin.
Note: The current ratio is below 1.0 (0.89), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it. Market cap is stated at each company's latest close.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| D-Market Electronic Services & Trading HEPS | FY2025 | $2.0B | -$132.6M | -6.7% | $1.2B | 52/100 |
| Liquidity Services, Inc. LQDT | FY2025 | $476.7M | $28.1M | 5.9% | $1.4B | 64/100 |
| ATRenew Inc. RERE | FY2025 | N/A | $48.1M | N/A | $952.4M | — |
| Revolve Group, Inc. RVLV | FY2025 | $1.2B | $61.7M | 5.0% | $1.4B | 58/100 |
| Jumia Technologies AG JMIA | FY2025 | $188.9M | -$61.6M | -32.6% | $682.8M | 54/100 |
| Vipshop Holdings Limited VIPS | FY2025 | $15.1B | $1.0B | 6.8% | $6.6B | 52/100 |
Where D-Market Electronic Services & Trading Ranks
Frequently Asked Questions
D-Market Electronic Services & Trading (HEPS) reported $2.0B in total revenue for fiscal year 2025. This represents a 22.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
D-Market Electronic Services & Trading (HEPS) revenue grew by 22.1% year-over-year, from $1.6B to $2.0B in fiscal year 2025.
No, D-Market Electronic Services & Trading (HEPS) reported a net loss of $132.6M in fiscal year 2025, with a net profit margin of -6.7%.
D-Market Electronic Services & Trading (HEPS) had EBITDA of $26.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
As of fiscal year 2025, D-Market Electronic Services & Trading (HEPS) had $263.2M in cash and equivalents against $0 in long-term debt.
D-Market Electronic Services & Trading (HEPS) had an operating margin of -2.4% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
D-Market Electronic Services & Trading (HEPS) had a net profit margin of -6.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
D-Market Electronic Services & Trading (HEPS) has a return on equity of -283.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
D-Market Electronic Services & Trading (HEPS) generated $206.4M in free cash flow during fiscal year 2025. This represents a 98.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
D-Market Electronic Services & Trading (HEPS) generated $262.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
D-Market Electronic Services & Trading (HEPS) had $859.9M in total assets as of fiscal year 2025, including both current and long-term assets.
D-Market Electronic Services & Trading (HEPS) invested $56.2M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
D-Market Electronic Services & Trading (HEPS) had a current ratio of 0.89 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
D-Market Electronic Services & Trading (HEPS) had a debt-to-equity ratio of 0.00 as of fiscal year 2025. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.
D-Market Electronic Services & Trading (HEPS) had a liabilities-to-equity ratio of 17.37 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity.
D-Market Electronic Services & Trading (HEPS) had a return on assets of -15.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
D-Market Electronic Services & Trading (HEPS) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $1.2B as of Nov 5, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
D-Market Electronic Services & Trading (HEPS) trades at 0.6x sales, its market capitalization divided by $2.0B revenue, FY2025. The market capitalization is $1.2B as of Nov 5, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
D-Market Electronic Services & Trading (HEPS) has an Altman Z-Score of 2.16, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
D-Market Electronic Services & Trading (HEPS) has a Piotroski F-Score of 3 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
D-Market Electronic Services & Trading (HEPS) reported a net loss of $132.6M while generating $262.6M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
D-Market Electronic Services & Trading (HEPS) reported an operating loss of $47.2M against $279.2M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
D-Market Electronic Services & Trading (HEPS) scores 52 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is the average of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.