HEPS · CIK 0001850235

D-MARKET Electronic Services & Trading

Annual figures as reported, FY2018–FY2024. Ratios and growth rates derived on-page.

Revenue

TRY 57.0B

▲ +11.1% vs FY2023

Net income

−TRY 1.6B

▼ −1571.7% vs FY2023

Free cash flow

TRY 3.7B

▼ −33.9% vs FY2023

Diluted EPS

−TRY 4.90

▼ −1733.3% vs FY2023

Revenue

Annual, as reported

Net income

Losses shown in terracotta

Profitability & returns

quality of earnings

Margins

Share of revenue kept at each line

Operating marginNet margin

Returns on capital

Net income vs year-end equity and assets

Return on equityReturn on assets

Cash flow

cash generation

Free cash flow

Operating cash flow less capital expenditure

Operating cash flow

Net cash from operations

Shareholder returns

capital allocation

Capital returned

Cash paid out as dividends and share repurchases

Buybacks

Diluted shares outstanding

Falling count means buybacks outpace dilution

Balance sheet

financial position

Stockholders’ equity

At fiscal year end

Net debt

Long-term debt less cash — negative means net cash

Growth rates

compounding, annualized

Revenue CAGR

+32.0%

+85.4%

Free cash flow CAGR

+64.1%

Share count change (split-adjusted)

+115387.7%

Key ratios

derived per fiscal year

Fiscal year	Op. margin	Net margin	FCF margin	ROE	ROA	Current ratio	Debt / equity
FY2024	0.0%	−2.8%	6.5%	−48.3%	−6.1%	0.97×	0.51×
FY2023	−2.0%	0.2%	10.9%	2.3%	0.4%	1.07×	0.06×
FY2022	−19.3%	−18.1%	−2.6%	−205.5%	−41.7%	1.08×	0.01×
FY2021	−27.3%	−13.4%	−2.8%	−69.2%	−24.9%	1.44×	0.07×
FY2020	−5.5%	−6.2%	5.6%	—	−47.7%	0.64×	—
FY2019	3.9%	−5.1%	11.9%	—	—	—	—
FY2018	—	—	—	—	—	—	—

Annual figures

as reported

Fiscal year	Revenue	Gross profit	Op. income	Net income	Diluted EPS	Op. cash flow	Capex	Total assets	Liabilities	Equity	Cash	LT debt
FY2024	TRY 57.0B	—	TRY 17.0M	−TRY 1.6B	−TRY 4.90	TRY 5.7B	TRY 2.0B	TRY 26.1B	TRY 22.8B	TRY 3.3B	TRY 6.8B	TRY 1.7B
FY2023	TRY 51.3B	—	−TRY 1.0B	TRY 109.1M	TRY 0.30	TRY 7.2B	TRY 1.7B	TRY 25.4B	TRY 20.6B	TRY 4.8B	TRY 7.9B	TRY 268.9M
FY2022	TRY 38.2B	—	−TRY 7.4B	−TRY 6.9B	−TRY 21.20	TRY 1.0B	TRY 2.0B	TRY 16.6B	TRY 13.2B	TRY 3.4B	TRY 12.5B	TRY 39.5M
FY2021	TRY 24.8B	—	−TRY 6.8B	−TRY 3.3B	−TRY 10.93	−TRY 47.4M	TRY 645.1M	TRY 13.4B	TRY 8.6B	TRY 4.8B	TRY 10.3B	TRY 317.3M
FY2020	TRY 15.2B	—	−TRY 827.7M	−TRY 936.6M	−TRY 3.29	TRY 1.1B	TRY 244.0M	TRY 2.0B	TRY 2.8B	−TRY 787.3M	TRY 1.3B	TRY 347.4M
FY2019	TRY 2.6B	—	TRY 101.1M	−TRY 131.6M	−TRY 0.46	TRY 363.8M	TRY 53.6M	—	—	−TRY 654.5M	TRY 282.3M	—
FY2018	—	—	—	—	—	—	—	—	—	−TRY 358.0M	—	—

Latest filings

the most recent regulatory filings

6-KForeign issuer report2026-06-30 ↗SCHEDULE 13GSEC filing2026-06-18 ↗SCHEDULE 13D/ASEC filing2026-06-10 ↗6-KForeign issuer report2026-05-07 ↗6-KForeign issuer report2026-04-30 ↗20-FAnnual report (foreign issuer)2026-04-30 ↗6-KForeign issuer report2026-04-16 ↗3OWNERSHIP DOCUMENT2026-04-01 ↗3OWNERSHIP DOCUMENT2026-04-01 ↗3OWNERSHIP DOCUMENT2026-03-27 ↗

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Fiscal year

Op. margin

Net margin

FCF margin

ROE

ROA

Current ratio

Debt / equity

FY2024

0.0%

−2.8%

6.5%

−48.3%

−6.1%

0.97×

0.51×

FY2023

−2.0%

0.2%

10.9%

2.3%

0.4%

1.07×

0.06×

FY2022

−19.3%

−18.1%

−2.6%

−205.5%

−41.7%

1.08×

0.01×

FY2021

−27.3%

−13.4%

−2.8%

−69.2%

−24.9%

1.44×

0.07×

FY2020

−5.5%

−6.2%

5.6%

—

−47.7%

0.64×

—

FY2019

3.9%

−5.1%

11.9%

—

FY2018

—

Fiscal year

Revenue

Gross profit

Op. income

Net income

Diluted EPS

Op. cash flow

Capex

Total assets

Liabilities

Equity

Cash

LT debt

FY2024

TRY 57.0B

—

TRY 17.0M

−TRY 1.6B

−TRY 4.90

TRY 5.7B

TRY 2.0B

TRY 26.1B

TRY 22.8B

TRY 3.3B

TRY 6.8B

TRY 1.7B

FY2023

TRY 51.3B

—

−TRY 1.0B

TRY 109.1M

TRY 0.30

TRY 7.2B

TRY 1.7B

TRY 25.4B

TRY 20.6B

TRY 4.8B

TRY 7.9B

TRY 268.9M

FY2022

TRY 38.2B

—

−TRY 7.4B

−TRY 6.9B

−TRY 21.20

TRY 1.0B

TRY 2.0B

TRY 16.6B

TRY 13.2B

TRY 3.4B

TRY 12.5B

TRY 39.5M

FY2021

TRY 24.8B

—

−TRY 6.8B

−TRY 3.3B

−TRY 10.93

−TRY 47.4M

TRY 645.1M

TRY 13.4B

TRY 8.6B

TRY 4.8B

TRY 10.3B

TRY 317.3M

FY2020

TRY 15.2B

—

−TRY 827.7M

−TRY 936.6M

−TRY 3.29

TRY 1.1B

TRY 244.0M

TRY 2.0B

TRY 2.8B

−TRY 787.3M

TRY 1.3B

TRY 347.4M

FY2019

TRY 2.6B

—

TRY 101.1M

−TRY 131.6M

−TRY 0.46

TRY 363.8M

TRY 53.6M

—

−TRY 654.5M

TRY 282.3M

—

FY2018

—

−TRY 358.0M

—