# D-Market Electronic Services & Trading American (HEPS) fundamentals

Data as of 2026-09-08. NASDAQ, United States. Sector: Consumer Cyclical / Internet & Direct Marketing Retail. Price $2.67, market value $956 million.

## Valuation
- **P/E (trailing): n/a** (negative earnings). D-Market Electronic Services & Trading American reported negative earnings over the last twelve months, so the P/E is not meaningful; use price-to-sales, EV/EBITDA and free-cash-flow yield instead.
- **Price / sales: 0.5×**. Each dollar of revenue is priced at 0.5×, a low multiple typical of thin-margin businesses or out-of-favour stocks.
- **Price / book: 23.0×**. The shares trade at 23.0× book value; most of the value is in earnings power and intangibles rather than the balance sheet.
- **EV / EBITDA: 17.6×**. Enterprise value is 17.6× operating earnings before depreciation, the multiple that ignores how the company is financed.
- **Free-cash-flow yield: 13.0%**. Free cash flow equals 13.0% of the market value. Above 5% is generally attractive.

## Profitability
- **Gross margin: 36.3%**. D-Market Electronic Services & Trading American keeps 36.3% of revenue after the direct cost of what it sells.
- **Operating margin: -1.5%**. Operating margin is negative: the business loses money before interest and tax.
- **Net margin: -6.7%**. The company reported a net loss over the last twelve months.
- **Return on equity: -283.3%**. Return on equity is negative because earnings are negative.
- **Return on invested capital: 12.6%**. Return on all capital, debt included, is 12.6%.
- **Return on assets: -20.0%**. Each dollar of assets produces -20.0% of profit.

## Growth
- **Revenue growth (1 yr): 48.4%** (3-yr 30.3%/yr, 5-yr 41.0%/yr). Revenue grew 48.4% over the last year, against 41.0% a year compounded over five years.
- **EPS growth (1 yr): -267.3%**. Earnings per share fell 267.3%, slower than revenue, so margins compressed.

## Financial health
- **Debt to equity: 1.21**. Debt is 1.21 times equity, a leveraged balance sheet that needs steady cash flow to service.
- **Net debt / EBITDA: net cash**. D-Market Electronic Services & Trading American holds more cash than debt.
- **Interest coverage: -0.2×**. Operating profit covers interest only -0.2×: fragile.
- **Current ratio: 0.89** (quick 0.63). Current liabilities exceed current assets, so the company depends on ongoing cash generation or refinancing to pay the next year's bills.
- **Altman Z-score: 2.18**. A Z-score of 2.18 is in the grey zone; not distressed, not clearly safe.
- **Piotroski F-score: 4/9**. 4 of 9 checks pass: mixed.

## Dividends
- **Dividend: none**. D-Market Electronic Services & Trading American does not currently pay a dividend.

## Price and momentum
- **Total return (1 yr): -4.8%** (YTD 7.9%, 3-mo 1.7%). The shares are down 4.8% over twelve months including dividends.
- **From 52-week high: -19.7%** (24.4% above the low). Trading 20% below its 52-week high.
- **200-day average: below**. The price sits below its 200-day moving average, the usual definition of a downtrend.
- **RSI (14-day): 46**. An RSI of 46 is neutral.
- **Beta (1 yr): 0.84** (volatility 56%). Beta of 0.84 against the S&P 500: the shares move roughly with the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=HEPS · Page: https://foliofundamentals.com/stocks/heps

Not investment advice.