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D-MARKET ELECTRONIC SERV-ADR (HEPS) Stock Fundamental Analysis

NASDAQ:HEPS - Nasdaq - US23292B1044 - ADR - Currency: USD

2.96  -0.04 (-1.33%)

After market: 2.96 0 (0%)

Fundamental Rating

3

Taking everything into account, HEPS scores 3 out of 10 in our fundamental rating. HEPS was compared to 28 industry peers in the Broadline Retail industry. HEPS has a bad profitability rating. Also its financial health evaluation is rather negative. HEPS has a decent growth rate and is not valued too expensively.


Dividend Valuation Growth Profitability Health

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1

1. Profitability

1.1 Basic Checks

In the past year HEPS has reported negative net income.
HEPS had a positive operating cash flow in the past year.
In the past 5 years HEPS reported 4 times negative net income.
Of the past 5 years HEPS 4 years had a positive operating cash flow.
HEPS Yearly Net Income VS EBIT VS OCF VS FCFHEPS Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2018 2019 2020 2021 2022 2023 2024 0 2B -2B 4B 6B

1.2 Ratios

Looking at the Return On Assets, with a value of -7.43%, HEPS is doing worse than 75.00% of the companies in the same industry.
With a Return On Equity value of -58.62%, HEPS is not doing good in the industry: 75.00% of the companies in the same industry are doing better.
Industry RankSector Rank
ROA -7.43%
ROE -58.62%
ROIC N/A
ROA(3y)-8.33%
ROA(5y)-12.85%
ROE(3y)-47%
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
HEPS Yearly ROA, ROE, ROICHEPS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2018 2019 2020 2021 2022 2023 2024 0 50 -50

1.3 Margins

In the last couple of years the Operating Margin of HEPS has declined.
With a Gross Margin value of 37.39%, HEPS is not doing good in the industry: 71.43% of the companies in the same industry are doing better.
HEPS's Gross Margin has improved in the last couple of years.
The Profit Margin and Operating Margin are not available for HEPS so they could not be analyzed.
Industry RankSector Rank
OM N/A
PM (TTM) N/A
GM 37.39%
OM growth 3YN/A
OM growth 5Y-32.07%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y20.18%
GM growth 5Y5.22%
HEPS Yearly Profit, Operating, Gross MarginsHEPS Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2018 2019 2020 2021 2022 2023 2024 0 20 -20

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3

2. Health

2.1 Basic Checks

HEPS does not have a ROIC to compare to the WACC, probably because it is not profitable.
Compared to 1 year ago, HEPS has more shares outstanding
The number of shares outstanding for HEPS remains at a similar level compared to 5 years ago.
HEPS has a worse debt/assets ratio than last year.
HEPS Yearly Shares OutstandingHEPS Yearly Shares OutstandingYearly Shares Outstanding 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M
HEPS Yearly Total Debt VS Total AssetsHEPS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B 20B 25B

2.2 Solvency

HEPS has an Altman-Z score of 2.55. This is not the best score and indicates that HEPS is in the grey zone with still only limited risk for bankruptcy at the moment.
HEPS has a Altman-Z score (2.55) which is comparable to the rest of the industry.
HEPS has a debt to FCF ratio of 1.59. This is a very positive value and a sign of high solvency as it would only need 1.59 years to pay back of all of its debts.
With a decent Debt to FCF ratio value of 1.59, HEPS is doing good in the industry, outperforming 75.00% of the companies in the same industry.
A Debt/Equity ratio of 0.67 indicates that HEPS is somewhat dependend on debt financing.
HEPS's Debt to Equity ratio of 0.67 is on the low side compared to the rest of the industry. HEPS is outperformed by 71.43% of its industry peers.
Although HEPS does not score too well on debt/equity it has very limited outstanding debt, which is well covered by the FCF. We will not put too much weight on the debt/equity number as it may be because of low equity, which could be a consequence of a share buyback program for instance. This needs to be investigated.
Industry RankSector Rank
Debt/Equity 0.67
Debt/FCF 1.59
Altman-Z 2.55
ROIC/WACCN/A
WACC215.22%
HEPS Yearly LT Debt VS Equity VS FCFHEPS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2018 2019 2020 2021 2022 2023 2024 0 2B 4B

2.3 Liquidity

HEPS has a Current Ratio of 0.94. This is a bad value and indicates that HEPS is not financially healthy enough and could expect problems in meeting its short term obligations.
Looking at the Current ratio, with a value of 0.94, HEPS is doing worse than 89.29% of the companies in the same industry.
A Quick Ratio of 0.62 indicates that HEPS may have some problems paying its short term obligations.
The Quick ratio of HEPS (0.62) is worse than 82.14% of its industry peers.
Industry RankSector Rank
Current Ratio 0.94
Quick Ratio 0.62
HEPS Yearly Current Assets VS Current LiabilitesHEPS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B 20B

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6

3. Growth

3.1 Past

HEPS shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -1555.94%.
HEPS shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 11.12%.
The Revenue has been growing by 85.40% on average over the past years. This is a very strong growth!
EPS 1Y (TTM)-1555.94%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-79.04%
Revenue 1Y (TTM)11.12%
Revenue growth 3Y55.93%
Revenue growth 5Y85.4%
Sales Q2Q%64.96%

3.2 Future

The Earnings Per Share is expected to grow by 41.78% on average over the next years. This is a very strong growth
The Revenue is expected to grow by 30.49% on average over the next years. This is a very strong growth
EPS Next Y125.4%
EPS Next 2Y69.99%
EPS Next 3Y41.78%
EPS Next 5YN/A
Revenue Next Year49.22%
Revenue Next 2Y36.93%
Revenue Next 3Y30.49%
Revenue Next 5YN/A

3.3 Evolution

The estimated forward Revenue growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
HEPS Yearly Revenue VS EstimatesHEPS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 20B 40B 60B 80B 100B
HEPS Yearly EPS VS EstimatesHEPS Yearly EPS VS EstimatesYearly EPS VS Estimates 2021 2022 2023 2024 2025 2026 2027 0 2 -2 4 -4 -6

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4

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings Ratio is negative for HEPS. In the last year negative earnings were reported.
A Price/Forward Earnings ratio of 26.95 indicates a quite expensive valuation of HEPS.
HEPS's Price/Forward Earnings is on the same level as the industry average.
When comparing the Price/Forward Earnings ratio of HEPS to the average of the S&P500 Index (35.34), we can say HEPS is valued slightly cheaper.
Industry RankSector Rank
PE N/A
Fwd PE 26.95
HEPS Price Earnings VS Forward Price EarningsHEPS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 20 -20

4.2 Price Multiples

HEPS's Enterprise Value to EBITDA ratio is in line with the industry average.
Based on the Price/Free Cash Flow ratio, HEPS is valued a bit cheaper than 64.29% of the companies in the same industry.
Industry RankSector Rank
P/FCF 22.79
EV/EBITDA 19.26
HEPS Per share dataHEPS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 1 2 3 4 5

4.3 Compensation for Growth

The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
A more expensive valuation may be justified as HEPS's earnings are expected to grow with 41.78% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y69.99%
EPS Next 3Y41.78%

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0

5. Dividend

5.1 Amount

No dividends for HEPS!.
Industry RankSector Rank
Dividend Yield N/A

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D-MARKET ELECTRONIC SERV-ADR

NASDAQ:HEPS (8/15/2025, 8:26:44 PM)

After market: 2.96 0 (0%)

2.96

-0.04 (-1.33%)

Chartmill FA Rating
GICS SectorConsumer Discretionary
GICS IndustryGroupConsumer Discretionary Distribution & Retail
GICS IndustryBroadline Retail
Earnings (Last)07-31 2025-07-31/bmo
Earnings (Next)N/A N/A
Inst Owners16.23%
Inst Owner Change0.08%
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap964.95M
Analysts82.22
Price Target3.88 (31.08%)
Short Float %1.73%
Short Ratio2.85
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)-6.17%
PT rev (3m)-8.43%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)-58.58%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)8.04%
Revenue NY rev (3m)8.46%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE 26.95
P/S 0.55
P/FCF 22.79
P/OCF 10.08
P/B 11.77
P/tB N/A
EV/EBITDA 19.26
EPS(TTM)-0.12
EYN/A
EPS(NY)0.11
Fwd EY3.71%
FCF(TTM)0.13
FCFY4.39%
OCF(TTM)0.29
OCFY9.92%
SpS5.37
BVpS0.25
TBVpS-0.01
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -7.43%
ROE -58.62%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM 37.39%
FCFM 2.42%
ROA(3y)-8.33%
ROA(5y)-12.85%
ROE(3y)-47%
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5Y-32.07%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y20.18%
GM growth 5Y5.22%
F-Score4
Asset Turnover2.71
Health
Industry RankSector Rank
Debt/Equity 0.67
Debt/FCF 1.59
Debt/EBITDA 1.25
Cap/Depr 93.93%
Cap/Sales 3.05%
Interest Coverage N/A
Cash Conversion 218.54%
Profit Quality N/A
Current Ratio 0.94
Quick Ratio 0.62
Altman-Z 2.55
F-Score4
WACC215.22%
ROIC/WACCN/A
Cap/Depr(3y)120.44%
Cap/Depr(5y)114%
Cap/Sales(3y)4.01%
Cap/Sales(5y)3.24%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-1555.94%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-79.04%
EPS Next Y125.4%
EPS Next 2Y69.99%
EPS Next 3Y41.78%
EPS Next 5YN/A
Revenue 1Y (TTM)11.12%
Revenue growth 3Y55.93%
Revenue growth 5Y85.4%
Sales Q2Q%64.96%
Revenue Next Year49.22%
Revenue Next 2Y36.93%
Revenue Next 3Y30.49%
Revenue Next 5YN/A
EBIT growth 1Y-71.55%
EBIT growth 3YN/A
EBIT growth 5Y25.95%
EBIT Next Year61.45%
EBIT Next 3Y54.15%
EBIT Next 5YN/A
FCF growth 1Y-1.33%
FCF growth 3YN/A
FCF growth 5Y64.06%
OCF growth 1Y47.12%
OCF growth 3YN/A
OCF growth 5Y73.37%