D-MARKET Electronic Services & Trading (HEPS) Financial Ratio Screen

NASDAQ Consumer Cyclical Turkey USD 864M
RATIOS FAIL*
Automated financial screen · activity assessed separately
D-MARKET Electronic Services & Trading (HEPS) is potentially non-compliant in the automated ratio model. While the debt ratio of 6.6% is acceptable, the cash and interest-bearing securities ratio of 36.1% exceeds the 30% threshold. D-MARKET Electronic Services & Trading operates in the Consumer Cyclical sector.

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MSCI new-inclusion financial-ratio snapshot

HEPS financial screening at a glance

RATIOS FAIL*Financial ratios shown separately from business review — not a fatwa
Debt ratio
6.6%
Pass vs 30%
Cash ratio
36.1%
Fail vs 30%
Receivables + cash
47.8%
Fail vs 30%
Impermissible income
4.9%
Pass vs 5%

Calculation date: 2026-10-15. Financial period used: December 2025. The ratios are automated proxies inspired by published methodologies; they are not official index determinations.

Independent method comparison

What the available screens say

How MSCI, FTSE and S&P-style screens differ
Request this stock review
MSCI-styleFinancial criteria not metAt least one available ratio exceeds its threshold
FTSE/Yasaar-styleFinancial criteria not metAt least one available ratio exceeds its threshold
S&P-style provisionalNot yet availableRequired denominator or financial data is incomplete
Business activityAssessment pendingFinancial results do not determine business permissibility
Complete screening result: not yet completeA complete result requires both supported financial criteria and adequate activity evidence. This site does not issue a fatwa or official index decision.
Financial periodDecember 2025Calculation date2026-10-15S&P-style historynot availableLast activity reviewnot yet reviewed

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Business activity evidence

Activity assessment in progress

The supplied classification (Internet Retail) is only a starting point. Revenue evidence is being assessed before any complete screening conclusion.

Revenue segments: Not yet checked against an SEC annual filing.

Profile description reviewed: D-Market Elektronik Hizmetler ve Ticaret A.S. operates e-commerce platforms in Turkey. The company operates a retail website that provides electronics and non-electronics products, such as books, sports, toys, kids and baby products, cosmetics, furniture, etc. It also operates HepsiJet that provides last-mile delivery services; HepsiLojistik, which offers fulfillment services; HepsiMat, an offline network of pick-up and drop-off point; HepsiAd that provides advertising service; and Hepsipay and Hepsifinans, which offers e-wallet, e-money, payment facilitation services, and consumer lending. The company was incorporated in 2000 and is headquartered in Istanbul, Turkey. D-Market Elektronik Hizmetler ve Ticaret A.S. is a subsidiary of Joint Stock Company Kaspi.kz.

Sources to verify: Secondary company profile and classification · Issuer website · SEC issuer filings

A sector label or company description can flag a risk but cannot establish a compliant-revenue percentage. Only sourced segment disclosures may support that calculation.

Published-ratio reproductions (not certifications)

The table shows implemented MSCI and FTSE/Yasaar-style asset-based models plus a provisional S&P-style debt and cash reconstruction where a complete 36-month denominator exists. These are independent calculations, not official index results or Shariah determinations. See formulas, sources and limitations.

Based on financial data from December 2025

Standard Debt Ratio Cash Ratio Receivables Income Status
MSCI 6.6%
/ 30%
36.1%
/ 30%
47.8%
/ 30%
4.89%
/ 5%
RATIOS FAIL*
FTSE 6.6%
/ 33%
36.1%
/ 33%
47.8%
/ 50%
4.89%
/ 5%
RATIOS FAIL*

Financial Highlights

EPS
currency unverified -0.48
Dividend Yield
0.0%
P/B Ratio
0.9
Revenue
TRY 84.7B
Growth: 36.2%
Beta
2.1
High volatility
Current Ratio
0.8

Profitability

Gross Margin 25.3%
Operating Margin 0.0%
Net Margin -8.0%
Return on Equity (ROE) -636.5%
Return on Assets (ROA) -4.6%

Cash Flow & Balance Sheet

Operating Cash FlowTRY 11.3B
Free Cash FlowTRY 8.9B
Total DebtTRY 2.4B
Current Ratio0.8
Total AssetsTRY 36.9B

Price & Trading

Last Close$2.44
50-Day MA$2.68
200-Day MA$2.73
Avg Volume296K
Beta2.1
52-Week Range
$2.15
$3.33

Financial data provenance and verification

The displayed fields were imported from yfinance on 2026-10-06 for the financial period December 2025. This is a secondary data feed and can differ from amended or newly filed statements.

Verification rule: check debt, cash, receivables, revenue and interest income against the latest primary filing before relying on an automated ratio.

About D-MARKET Electronic Services & Trading (HEPS)

CEO
Mr. Ender Ozgun
Employees
3,611
Sector
Consumer Cyclical
Industry
Internet Retail
Country
Turkey
Exchange
NASDAQ
Market Cap (listing currency)
USD 864M
Currency
USD

D-Market Elektronik Hizmetler ve Ticaret A.S. operates e-commerce platforms in Turkey. The company operates a retail website that provides electronics and non-electronics products, such as books, sports, toys, kids and baby products, cosmetics, furniture, etc. It also operates HepsiJet that provides last-mile delivery services; HepsiLojistik, which offers fulfillment services; HepsiMat, an offline network of pick-up and drop-off point; HepsiAd that provides advertising service; and Hepsipay and Hepsifinans, which offers e-wallet, e-money, payment facilitation services, and consumer lending. The company was incorporated in 2000 and is headquartered in Istanbul, Turkey. D-Market Elektronik Hizmetler ve Ticaret A.S. is a subsidiary of Joint Stock Company Kaspi.kz.

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Frequently Asked Questions

Is D-MARKET Electronic Services & Trading (HEPS) halal to invest in?

The current automated result is Financial criteria not met or an activity exclusion was detected. It uses available public financial fields and simplified methodology proxies. It is not a fatwa or an official determination by AAOIFI, DJIM, MSCI, S&P, or FTSE.

What is D-MARKET Electronic Services & Trading's debt ratio?

D-MARKET Electronic Services & Trading's debt ratio is 6.6% in the MSCI new-inclusion reproduction: total debt divided by total assets, against a 30% threshold. See the methodology page for the official source and limitations.

What are D-MARKET Electronic Services & Trading's key financial metrics?

D-MARKET Electronic Services & Trading has a market capitalization of USD 864M in its listing currency, and revenue of TRY 84.7B. The company maintains a gross margin of 25.3% and a net margin of -8.0%. Return on equity stands at -636.5%.

How often is the screening data updated?

Calculation date: 2026-10-15. Financial period: December 2025. These dates are shown separately because regenerating this page does not refresh the underlying data.

Disclaimer: HalalStockGuide.com provides Shariah compliance screening for educational and informational purposes only. This is not a fatwa, financial advice, or a recommendation to buy or sell any security. Screening results are based on publicly available financial data and established methodologies. Always consult a qualified Islamic scholar and a licensed financial advisor before making investment decisions.