D-Market Elektronik Hizmetler ve Ticaret A.S. (HEPS) Key Metrics
HEPS key metrics, 2018–2025
Fiscal year ended December 31, 2025 · TRYHEPS returns How much profit the business earns on the capital it uses.
HEPS financial health Debt, liquidity and how easily interest is covered.
HEPS efficiency & capital use Working capital cycle and where the cash goes.
HEPS returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
HEPS debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
HEPS cash returned to shareholders
HEPS key metrics in TRY
2018–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|
| Returns & profitability | ||||||||
| Return on equity (ROE) | −213.7% | −39.7% | 1.9% | −169.2% | −165.5% | — | — | — |
| Return on assets (ROA) | −18.1% | −6.2% | 0.4% | −46.2% | −43.4% | −64.1% | −16.5% | −25.1% |
| Return on tangible assets | −17.2% | −7.0% | 0.3% | −45.5% | −25.7% | −49.9% | −14.7% | −27.4% |
| Free cash flow margin | 2.6% | −0.1% | 0.1% | −0.2% | −0.2% | 0.1% | 11.9% | 6.1% |
| Income quality (OCF / net income) | — | — | 1.31 | — | — | — | — | — |
| Financial health | ||||||||
| Total debt | ₺2.43B | ₺2.23B | ₺668.0M | ₺471.8M | ₺664.4M | ₺491.5M | ₺103.3M | ₺255.6M |
| Cash & short-term investments | ₺13.32B | ₺9.13B | ₺10.43B | ₺8.71B | ₺8.17B | ₺592.6M | ₺282.3M | ₺136.5M |
| Net debt | −₺10.90B | −₺6.90B | −₺9.76B | −₺8.23B | −₺7.50B | −₺101.2M | −₺179.0M | ₺119.2M |
| Debt / equity | 1.21 | 0.67 | 0.14 | 0.14 | 0.14 | — | — | — |
| Debt / assets | 0.07 | 0.09 | 0.03 | 0.03 | 0.05 | 0.25 | 0.11 | 0.40 |
| Net debt / EBITDA | −6.66 | −2.09 | −2.66 | — | — | — | −53.93 | — |
| Current ratio | 0.89 | 0.97 | 1.07 | 1.08 | 1.44 | 0.64 | 0.65 | 0.47 |
| Quick ratio | 0.63 | 0.69 | 0.78 | 0.85 | 1.09 | 0.35 | 0.34 | 0.24 |
| Interest coverage | -0.2 | 0.0 | -0.5 | -9.1 | -11.7 | -2.7 | 2.5 | -1.1 |
| Working capital | −₺3.72B | −₺731.3M | ₺1.41B | ₺1.04B | ₺3.61B | −₺966.3M | −₺427.0M | −₺472.6M |
| Invested capital | −₺8.89B | −₺3.58B | −₺4.99B | −₺4.87B | −₺2.69B | −₺888.5M | −₺489.9M | −₺238.8M |
| Tangible asset value | −₺1.86B | ₺262.4M | ₺2.09B | ₺1.97B | ₺4.41B | −₺876.7M | −₺374.2M | −₺411.4M |
| Net current asset value | −₺5.27B | −₺1.97B | ₺500.1M | ₺582.4M | ₺3.25B | −₺1.06B | −₺487.1M | −₺580.0M |
| Capital allocation | ||||||||
| Dividends paid | ₺0 | ₺0 | ₺0 | ₺0 | ₺0 | ₺0 | ₺0 | ₺0 |
| Share buybacks (net) | ₺0 | ₺0 | ₺2.0M | ₺0 | ₺0 | — | — | — |
| Dividend payout ratio | — | — | 0.0% | — | — | — | — | — |
| Dividends + buybacks / free cash flow | 0.0% | — | 4.0% | — | — | 0.0% | 0.0% | 0.0% |
| Capex / revenue | 3.1% | 0.1% | 0.1% | 0.1% | 0.0% | 0.0% | 2.1% | 2.5% |
| Capex / operating cash flow | 54.5% | 335.2% | 48.9% | — | — | 16.6% | 14.7% | 29.3% |
| Capex / depreciation | 0.83 | 0.03 | 0.02 | 0.04 | 0.01 | 0.01 | 0.81 | 0.63 |
| Stock-based compensation / revenue | 0.3% | 0.6% | 0.3% | 0.7% | 1.1% | 0.0% | 0.0% | — |
| R&D / revenue | — | 1.3% | 2.6% | 1.0% | 0.9% | 0.5% | 0.8% | 1.1% |
| SG&A / revenue | 31.3% | 18.4% | 17.9% | 33.5% | 43.9% | 15.6% | 13.1% | 13.3% |
| Efficiency | ||||||||
| Days sales outstanding | 24.8 | 29.0 | 29.0 | 10.9 | 5.9 | 3.9 | 12.0 | 10.7 |
| Days of inventory on hand | 49.8 | 60.0 | 55.9 | 35.5 | 34.2 | 17.5 | 56.2 | 48.7 |
| Days payables outstanding | 138.1 | 154.7 | 160.8 | 99.9 | 76.0 | 37.5 | 148.8 | 118.3 |
| Cash conversion cycle (days) | -63.6 | -65.6 | -75.9 | -53.5 | -35.9 | -16.1 | -80.6 | -58.9 |
| Receivables turnover | 14.75 | 12.57 | 12.59 | 33.64 | 61.73 | 92.41 | 30.47 | 34.13 |
| Payables turnover | 2.64 | 2.36 | 2.27 | 3.66 | 4.80 | 9.73 | 2.45 | 3.09 |
| Inventory turnover | 7.33 | 6.08 | 6.53 | 10.28 | 10.66 | 20.86 | 6.49 | 7.50 |
| Asset turnover | 2.68 | 2.21 | 1.69 | 2.55 | 3.23 | 10.39 | 3.26 | 3.05 |
| Average receivables | ₺5.74B | ₺4.54B | ₺2.82B | ₺1.14B | ₺401.6M | ₺164.2M | ₺85.4M | ₺57.3M |
| Average payables | ₺20.43B | ₺15.11B | ₺12.48B | ₺8.19B | ₺4.05B | ₺1.22B | ₺752.9M | ₺492.2M |
| Average inventory | ₺7.37B | ₺5.86B | ₺4.34B | ₺2.91B | ₺1.82B | ₺568.3M | ₺284.5M | ₺202.5M |
| Intangibles / total assets | 10.5% | 11.7% | 10.5% | 8.4% | 3.0% | 4.5% | 6.6% | 8.3% |
Computed from HEPS's annual financial statements (latest annual report filed April 30, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in TRY; data from EODHD. Averages use the opening and closing balance of each year.
HEPS valuation and financial ratios
D-Market Elektronik Hizmetler ve Ticaret A.S. earned a return on equity of −213.7% in fiscal 2025. It ended the year with ₺2.4 billion of debt and ₺13.3 billion in cash and short-term investments, a net cash position of ₺10.9 billion.
See the HEPS income statement, the HEPS chart for price history, or the HEPS stock overview for the latest quote and news.
HEPS key metrics FAQ
What is D-Market Elektronik Hizmetler ve Ticaret A.S.'s return on equity?
D-Market Elektronik Hizmetler ve Ticaret A.S.'s return on equity (ROE) was −213.7% in fiscal 2025: net income of -₺5.7 billion on average shareholders' equity of ₺2.7 billion.
How much debt does D-Market Elektronik Hizmetler ve Ticaret A.S. have?
D-Market Elektronik Hizmetler ve Ticaret A.S. had total debt of ₺2.4 billion at the end of fiscal 2025, a debt-to-equity ratio of 1.21 and more cash than debt.
Does D-Market Elektronik Hizmetler ve Ticaret A.S. pay a dividend?
D-Market Elektronik Hizmetler ve Ticaret A.S. did not pay a dividend in fiscal 2025.
What is D-Market Elektronik Hizmetler ve Ticaret A.S.'s current ratio?
D-Market Elektronik Hizmetler ve Ticaret A.S.'s current ratio was 0.89 at the end of fiscal 2025: current assets were 0.89 times current liabilities.