D-Market Elektronik Hizmetler ve Ticaret A.S. (HEPS) Income Statement
HEPS 2025 at a glance
Fiscal year ended December 31, 2025 · TRYHEPS revenue and net income
Where HEPS's revenue goes
2025Each bar shows an amount and its share of revenue. HEPS kept −6.7% of revenue as net income.
HEPS profit margins
HEPS growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +48.4% | +30.3% | +41.0% | — |
| Gross profit | +43.4% | +54.6% | +56.0% | — |
| Operating income | −5,416.5% | — | — | — |
| Net income | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
HEPS income statement in TRY
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ₺84.65B | ₺57.05B | ₺35.56B | ₺38.23B | ₺24.79B | ₺15.17B | ₺2.60B | ₺1.96B |
| Cost of revenue | ₺53.98B | ₺35.66B | ₺28.31B | ₺29.92B | ₺19.44B | ₺11.85B | ₺1.85B | ₺1.52B |
| Gross profit | ₺30.67B | ₺21.39B | ₺7.25B | ₺8.31B | ₺5.35B | ₺3.32B | ₺756.6M | ₺436.1M |
| Research & development | — | ₺740.6M | ₺926.7M | ₺382.6M | ₺230.5M | ₺75.5M | ₺21.8M | ₺20.6M |
| Sales, general & admin | ₺26.46B | ₺10.51B | ₺6.36B | ₺12.79B | ₺10.88B | ₺2.37B | ₺340.7M | ₺259.9M |
| Total operating expenses | ₺31.57B | ₺21.37B | ₺7.97B | ₺15.69B | ₺12.13B | ₺4.15B | ₺655.5M | ₺487.6M |
| Operating income | −₺901.6M | ₺17.0M | −₺725.0M | −₺7.38B | −₺6.78B | −₺827.7M | ₺101.1M | −₺51.5M |
| Interest income | ₺4.14B | ₺3.10B | ₺376.2M | ₺1.91B | ₺2.16B | ₺39.6M | ₺24.3M | ₺19.2M |
| Interest expense | ₺4.21B | ₺2.87B | ₺1.38B | ₺809.3M | ₺579.2M | ₺301.5M | ₺40.6M | ₺47.1M |
| Income before taxes | −₺5.74B | −₺1.60B | ₺75.5M | −₺6.92B | −₺3.33B | −₺936.6M | −₺131.6M | −₺161.3M |
| Income taxes | −₺43.1M | — | ₺2.65B | ₺6.5M | ₺2.70B | ₺123.2M | ₺68.7M | ₺47.1M |
| Net income | −₺5.70B | −₺1.60B | ₺75.5M | −₺6.92B | −₺3.33B | −₺936.6M | −₺131.6M | −₺161.3M |
| EBITDA | ₺1.64B | ₺3.29B | ₺3.67B | −₺4.89B | −₺2.11B | −₺295.2M | ₺3.3M | −₺36.0M |
| Gross margin | 36.2% | 37.5% | 20.4% | 21.7% | 21.6% | 21.9% | 29.1% | 22.3% |
| Operating margin | −1.1% | 0.0% | −2.0% | −19.3% | −27.3% | −5.5% | 3.9% | −2.6% |
| Net margin | −6.7% | −2.8% | 0.2% | −18.1% | −13.4% | −6.2% | −5.1% | −8.3% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₺22.81B | ₺23.14B | ₺30.34B | ₺19.92B | ₺16.74B | ₺14.39B | ₺20.44B | ₺12.24B | ₺13.66B | ₺15.62B | ₺11.31B | ₺12.04B |
| Cost of revenue | ₺14.19B | ₺14.64B | ₺19.95B | ₺12.51B | ₺10.41B | ₺9.06B | ₺12.82B | ₺7.37B | ₺8.19B | ₺10.37B | ₺7.51B | ₺8.43B |
| Gross profit | ₺8.62B | ₺8.50B | ₺10.38B | ₺7.41B | ₺6.34B | ₺5.32B | ₺7.62B | ₺4.87B | ₺5.47B | ₺5.25B | ₺3.80B | ₺3.61B |
| Research & development | — | — | — | ₺201.0M | — | ₺307.0M | — | ₺151.1M | ₺152.1M | ₺130.5M | ₺130.5M | ₺116.7M |
| Sales, general & admin | ₺7.61B | ₺7.29B | ₺9.78B | ₺6.51B | ₺4.71B | ₺4.49B | ₺6.34B | ₺3.89B | ₺4.41B | ₺4.34B | ₺1.91B | ₺2.08B |
| Total operating expenses | ₺9.29B | ₺8.94B | ₺10.11B | ₺8.00B | ₺6.30B | ₺5.87B | ₺20.24B | ₺4.84B | ₺5.51B | ₺5.39B | ₺3.90B | ₺3.85B |
| Operating income | −₺668.7M | −₺439.6M | ₺277.4M | −₺590.5M | ₺34.1M | −₺548.5M | ₺200.5M | ₺32.4M | −₺43.6M | −₺135.1M | −₺97.8M | −₺245.1M |
| Interest income | ₺924.9M | ₺1.03B | ₺652.3M | ₺1.15B | ₺1.13B | ₺977.0M | ₺658.4M | ₺824.3M | ₺477.6M | ₺430.7M | ₺716.5M | ₺444.3M |
| Interest expense | ₺3.23B | ₺3.02B | ₺4.35B | ₺2.84B | ₺2.36B | ₺1.78B | ₺1.82B | ₺1.62B | ₺526.2M | ₺1.86B | ₺463.9M | ₺1.35B |
| Income before taxes | −₺1.89B | −₺961.2M | −₺3.23B | −₺1.32B | −₺723.8M | −₺355.1M | −₺724.3M | −₺307.4M | −₺519.3M | −₺180.5M | −₺130.7M | −₺285.5M |
| Income taxes | −₺2.3M | ₺30.7M | −₺43.1M | — | — | — | — | — | — | ₺955.4M | ₺955.4M | ₺315.8M |
| Net income | −₺1.89B | −₺992.0M | −₺3.19B | −₺1.32B | −₺723.8M | −₺355.1M | −₺724.3M | −₺307.4M | −₺519.3M | −₺180.5M | −₺130.7M | −₺285.5M |
| EBITDA | ₺2.33B | ₺2.92B | −₺5.52B | ₺2.28B | ₺2.38B | ₺2.08B | — | ₺1.86B | ₺1.91B | ₺2.21B | ₺289.4M | ₺1.50B |
| Gross margin | 37.8% | 36.7% | 34.2% | 37.2% | 37.8% | 37.0% | 37.3% | 39.8% | 40.0% | 33.6% | 33.6% | 30.0% |
| Operating margin | −2.9% | −1.9% | 0.9% | −3.0% | 0.2% | −3.8% | 1.0% | 0.3% | −0.3% | −0.9% | −0.9% | −2.0% |
| Net margin | −8.3% | −4.3% | −10.5% | −6.7% | −4.3% | −2.5% | −3.5% | −2.5% | −3.8% | −1.2% | −1.2% | −2.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in TRY as reported in HEPS's financial statements (latest annual report filed April 30, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
HEPS financial results
In fiscal year 2025 (ended December 31, 2025), D-Market Elektronik Hizmetler ve Ticaret A.S. reported revenue of ₺84.7 billion, up 48.4% from the year before. It had a net loss of ₺5.7 billion, a net profit margin of −6.7%. Over five years revenue grew at an average rate of 41.0% a year. Figures are in TRY, the currency of its financial statements.
See the HEPS stock overview for the latest quote and news, or the HEPS chart for price history and technical indicators.
HEPS income statement FAQ
What is D-Market Elektronik Hizmetler ve Ticaret A.S.'s annual revenue?
D-Market Elektronik Hizmetler ve Ticaret A.S. reported total revenue of ₺84.7 billion for fiscal year 2025, which ended on December 31, 2025. That was up 48.4% from ₺57.0 billion the previous year.
Is D-Market Elektronik Hizmetler ve Ticaret A.S. profitable?
No. D-Market Elektronik Hizmetler ve Ticaret A.S. reported a net loss of ₺5.7 billion in fiscal 2025, a net profit margin of −6.7%; its operating margin was −1.1%.
What is D-Market Elektronik Hizmetler ve Ticaret A.S.'s gross margin?
D-Market Elektronik Hizmetler ve Ticaret A.S.'s gross margin was 36.2% in fiscal 2025: for every $100 of revenue, D-Market Elektronik Hizmetler ve Ticaret A.S. kept $36 after the direct cost of its products and services.
How fast is D-Market Elektronik Hizmetler ve Ticaret A.S. growing?
Revenue grew 41.0% a year on average over the last five fiscal years, from ₺15.2 billion to ₺84.7 billion.
When will D-Market Elektronik Hizmetler ve Ticaret A.S. report its next earnings?
D-Market Elektronik Hizmetler ve Ticaret A.S. is expected to report results for the quarter ending September 30, 2026 on November 4, 2026.
When does D-Market Elektronik Hizmetler ve Ticaret A.S.'s fiscal year end?
D-Market Elektronik Hizmetler ve Ticaret A.S.'s fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on April 30, 2026.