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D Market Elektronik Hizmetler ve Ticaret AS
NASDAQ:HEPS

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D Market Elektronik Hizmetler ve Ticaret AS
NASDAQ:HEPS
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Price: 2.85 USD -1.72% Market Closed
Market Cap: $929.1m

EV/EBITDA

17.9
Current
27%
More Expensive
vs 3-y average of 14

Enterprise Value to EBITDA (EV/EBITDA) ratio compares a company`s total enterprise value to its earnings before interest, taxes, depreciation, and amortization. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBITDA
17.9
=
Enterprise Value
$767.8m
/
EBITDA
₺2B

Enterprise Value to EBITDA (EV/EBITDA) ratio compares a company`s total enterprise value to its earnings before interest, taxes, depreciation, and amortization. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBITDA
17.9
=
Enterprise Value
$767.8m
/
EBITDA
₺2B

Valuation Scenarios

D Market Elektronik Hizmetler ve Ticaret AS is trading above its 3-year average

If EV/EBITDA returns to its 3-Year Average (14), the stock would be worth $2.24 (21% downside from current price).

Statistics
Positive Scenarios
0/4
Maximum Downside
-46%
Maximum Upside
No Upside Scenarios
Average Downside
34%
Scenario EV/EBITDA Value Implied Price Upside/Downside
Current Multiple 17.9 $2.85
0%
3-Year Average 14 $2.24
-21%
5-Year Average 9.7 $1.55
-46%
Industry Average 12.1 $1.92
-33%
Country Average 11.5 $1.83
-36%

Forward EV/EBITDA
Today’s price vs future ebitda

Today's Enterprise Value EBITDA Forward EV/EBITDA
$767.8m
/
Oct 2025
₺2B
=
17.9
Current
$767.8m
/
Dec 2025
₺2.3B
=
0.3
Forward
$767.8m
/
Dec 2026
₺3.7B
=
0.2
Forward
$767.8m
/
Dec 2027
₺7.1B
=
0.1
Forward

Forward EV/EBITDA shows whether today’s EV/EBITDA still looks high or low once future ebitda are taken into account.

Peer Comparison

All Multiples
EV/EBITDA
P/E
All Countries
Close
Market Cap EV/EBITDA P/E
TR
D Market Elektronik Hizmetler ve Ticaret AS
NASDAQ:HEPS
929.1m USD 17.9 -12.6
US
Amazon.com Inc
NASDAQ:AMZN
2.7T USD 18 34.5
ZA
Naspers Ltd
JSE:NPN
745.2B ZAR 168.3 7.9
CN
Alibaba Group Holding Ltd
NYSE:BABA
323B USD 24.3 24
CN
PDD Holdings Inc
NASDAQ:PDD
140.5B USD 5.8 9.7
NL
Prosus NV
AEX:PRX
101.8B EUR 503.8 8.9
AR
Mercadolibre Inc
NASDAQ:MELI
93.6B USD 22.9 46.9
UY
MercadoLibre Inc
BMV:MELIN
1.6T MXN 22.8 46.8
US
DoorDash Inc
NASDAQ:DASH
79.2B USD 52 84.8
CN
Meituan
HKEX:3690
528.4B HKD -13.3 -19.8
CN
JD.Com Inc
HKEX:9618
391.1B HKD 49.6 17
EV/EBITDA Multiple
EBITDA Growth EV/EBITDA to Growth
TR
D Market Elektronik Hizmetler ve Ticaret AS
NASDAQ:HEPS
Average EV/EBITDA: 88.5
17.9
44%
0.4
US
Amazon.com Inc
NASDAQ:AMZN
18
31%
0.6
ZA
N
Naspers Ltd
JSE:NPN
168.3
65%
2.6
CN
Alibaba Group Holding Ltd
NYSE:BABA
24.3
10%
2.4
CN
PDD Holdings Inc
NASDAQ:PDD
5.8
20%
0.3
NL
Prosus NV
AEX:PRX
503.8
73%
6.9
AR
Mercadolibre Inc
NASDAQ:MELI
22.9
30%
0.8
UY
MercadoLibre Inc
BMV:MELIN
22.8
30%
0.8
US
D
DoorDash Inc
NASDAQ:DASH
52
62%
0.8
CN
Meituan
HKEX:3690
Negative Multiple: -13.3 N/A N/A
CN
JD.Com Inc
HKEX:9618
49.6
161%
0.3
P/E Multiple
Earnings Growth PEG
TR
D Market Elektronik Hizmetler ve Ticaret AS
NASDAQ:HEPS
Average P/E: 31.2
Negative Multiple: -12.6
N/A N/A
US
Amazon.com Inc
NASDAQ:AMZN
34.5
19%
1.8
ZA
N
Naspers Ltd
JSE:NPN
7.9
1%
7.9
CN
Alibaba Group Holding Ltd
NYSE:BABA
24
11%
2.2
CN
PDD Holdings Inc
NASDAQ:PDD
9.7
16%
0.6
NL
Prosus NV
AEX:PRX
8.9
4%
2.2
AR
Mercadolibre Inc
NASDAQ:MELI
46.9
37%
1.3
UY
MercadoLibre Inc
BMV:MELIN
46.8
36%
1.3
US
D
DoorDash Inc
NASDAQ:DASH
84.8
47%
1.8
CN
Meituan
HKEX:3690
Negative Multiple: -19.8 N/A N/A
CN
JD.Com Inc
HKEX:9618
17
8%
2.1

Market Distribution

In line with most companies in Turkey
Percentile
66th
Based on 320 companies
66th percentile
17.9
Low
0.1 — 7
Typical Range
7 — 21.5
High
21.5 —
Distribution Statistics
Turkey
Min 0.1
30th Percentile 7
Median 11.5
70th Percentile 21.5
Max 147 825.3

D Market Elektronik Hizmetler ve Ticaret AS
Glance View

Market Cap
929.1m USD
Industry
Retail

D-MARKET Elektronik Hizmetler Tic.A.S. is a holding company, which owns and operates an online shopping website. The firm's platform brings together 50 million product types in nearly 40 categories. The scope of products include white goods, electronics, apparel, accessories, home textile and stationary products.

HEPS Intrinsic Value
2.22 USD
Overvaluation 22%
Intrinsic Value
Price $2.85
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