D-Market Elektronik Hizmetler ve Ticaret A.S. (HEPS) quarterly balance sheet — complete assets, liabilities & equity history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Total Current Assets | 24.44B | 29.65B | 25.79B | 23.01B | 20.35B | 20.85B | 19.86B | 16.54B | 16.85B | 21.11B | 12.89B | 361.8M | 8.13B | 13.8B | 7.43B | 6.99B | 6.23B | 11.82B | 5.53B | 1.61B |
| Cash & Short-Term Investments | 9.84B | 13.52B | 9.31B | 8.9B | 7.29B | 9.13B | 8.13B | 6.86B | 7.97B | 10.43B | 6.4B | 210.38M | 4.97B | 8.71B | 4.34B | 4.02B | 3.62B | 8.17B | 4.04B | 706.26M |
| Cash Only | 7.93B | 11.51B | 7.41B | 7.09B | 6.7B | 6.75B | 4.26B | 3.68B | 3.56B | 7.94B | 5.71B | 190.27M | 4.97B | 8.68B | 3.47B | 2.69B | 2.33B | 6.26B | 4.04B | 706.26M |
| Short-Term Investments | 1.92B | 2.02B | 1.91B | 1.81B | 597.58M | 2.38B | 3.87B | 3.18B | 4.4B | 2.49B | 686.2M | 20.11M | 0 | 28.93M | 866.12M | 1.34B | 1.29B | 1.9B | 0 | 0 |
| Accounts Receivable | 4.86B | 6.24B | 5.53B | 5.78B | 5.14B | 5.12B | 3.38B | 3.09B | 3.01B | 3.96B | 1.57B | 25.63M | 565.36M | 1.68B | 293.57M | 226.54M | 353.24M | 588.47M | 303.49M | 190.54M |
| Days Sales Outstanding | 21.59 | 17.85 | 26.12 | 29.68 | 32.09 | 19.12 | 24.31 | 20.3 | 20.31 | 18.24 | 6.1 | 2.66 | 12.98 | 5.45 | 4.51 | 6.39 | 16.76 | 14.87 | 7.4 | 5.13 |
| Inventory | 8.21B | 8.72B | 9.59B | 7.4B | 7B | 6B | 6.91B | 5.61B | 4.83B | 5.72B | 3.82B | 101.22M | 1.96B | 2.95B | 2.17B | 2.23B | 1.94B | 2.88B | 923.01M | 608.62M |
| Days Inventory Outstanding | 52.06 | 42.23 | 62.48 | 62.97 | 64.56 | 46.33 | 78.14 | 58.01 | 46.34 | 45.29 | 21.42 | 11.57 | 40.72 | 16.11 | 52.96 | 54.63 | 102.24 | 83.3 | 27.05 | 25.84 |
| Other Current Assets | 1.52B | 1.17B | 1.35B | 925.89M | 913.08M | 197.47M | 894.24M | 978.04M | 1.04B | 328.57M | 1.1B | 24.57M | 625.83M | 181.88M | 623.95M | 513.87M | 321.05M | 73.79M | 268.36M | 105.03M |
| Total Non-Current Assets | 7.95B | 7.28B | 7B | 6.16B | 6.02B | 5.29B | 4.62B | 4.02B | 3.47B | 4.27B | 2.58B | 77.81M | 1.93B | 2.78B | 1.46B | 1.34B | 932.73M | 1.56B | 404.22M | 378.31M |
| Property, Plant & Equipment | 3.64B | 3.29B | 2.98B | 2.42B | 2.42B | 2.13B | 1.79B | 1.45B | 1.21B | 1.54B | 960.91M | 30.99M | 831.62M | 1.28B | 710.27M | 610.54M | 326.58M | 656.26M | 245.86M | 239.5M |
| Fixed Asset Turnover | 6.67x | 9.68x | 7.39x | 6.92x | 6.32x | 10.44x | 7.56x | 10.27x | 11.37x | 11.15x | 24.27x | 23.45x | 7.39x | 16.79x | 8.03x | 8.81x | 5.14x | 6.12x | 12.65x | 14.53x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 411K | 0 | 0 | 0 | 411K | 0 | 0 | 0 | 285K | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 3.87B | 3.94B | 3.65B | 3.44B | 3.06B | 2.75B | 2.5B | 2.22B | 2.68B | 1.57B | 45.74M | 1.07B | 1.39B | 663.83M | 506.31M | 268.12M | 405.39M | 153.85M | 128.2M |
| Long-Term Investments | 0 | 26.74M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 57.92K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 53.77M | 40.53M | 83.21M | 99.84M | 161.66M | 100M | 80.11M | 69.22M | 46.42M | 49.84M | 44.15M | 1.02M | 27.32M | 110.19M | 88.61M | 218.88M | 338.04M | 502.26M | 4.51M | 10.61M |
| Total Assets | 32.39B | 36.93B | 32.79B | 29.17B | 26.37B | 26.14B | 24.48B | 20.56B | 20.32B | 25.38B | 15.47B | 439.61M | 10.05B | 16.59B | 8.89B | 8.33B | 7.16B | 13.39B | 5.94B | 1.99B |
| Asset Turnover | 0.67x | 0.87x | 0.64x | 0.60x | 0.55x | 0.81x | 0.54x | 0.67x | 0.68x | 0.68x | 1.51x | 1.93x | 0.59x | 1.31x | 0.62x | 0.53x | 0.25x | 0.29x | 0.77x | 1.73x |
| Asset Growth % | 22.81% | 41.24% | 33.96% | 41.9% | 29.8% | 3% | 58.22% | 4576.55% | 102.08% | 53.02% | 73.98% | -94.72% | 40.36% | 23.92% | 49.77% | 318.76% | 325.15% | 581.27% | - | - |
| Total Current Liabilities | 29.8B | 33.37B | 30.48B | 24.98B | 21.64B | 21.59B | 19.51B | 15.94B | 15.79B | 19.7B | 11.19B | 305.69M | 7.64B | 12.76B | 6.24B | 5.39B | 4.49B | 8.22B | 3.81B | 3.18B |
| Accounts Payable | 22.3B | 25.87B | 23.14B | 18.59B | 15.45B | 14.97B | 14.89B | 12.34B | 11.96B | 15.25B | 8.88B | 243.95M | 5.8B | 9.7B | 4.74B | 4.21B | 3.52B | 6.67B | 2.97B | 2.46B |
| Days Payables Outstanding | 148.06 | 112.98 | 153.41 | 148.78 | 151.03 | 107.14 | 169.93 | 135.01 | 119.46 | 114.48 | 49.8 | 33.86 | 128.51 | 45.44 | 107.73 | 101.39 | 216.41 | 211.39 | 95.89 | 70.7 |
| Short-Term Debt | 343.17M | 1.65B | 1B | 1.22B | 1.52B | 1.24B | 950.54M | 473.2M | 313.48M | 264.89M | 195.39M | 8.45M | 26.3M | 21.5M | 50.93M | 260.39M | 176.4M | 317.34M | 129.11M | 158.8M |
| Deferred Revenue (Current) | 2.72B | 2.78B | 0 | 2.42B | 2.06B | 2.43B | 2.08B | 1.72B | 0 | 2.79B | 0 | 31.16M | 0 | 1.25B | 0 | 0 | 0 | 428.66M | 0 | 0 |
| Other Current Liabilities | 3.11B | 2.06B | 4.5B | 2.21B | 2.1B | 1.39B | 1.47B | 1.29B | 3.19B | 745.97M | 1.77B | 17.12M | 1.6B | 1.06B | 1.2B | 721.69M | 629.61M | 401.9M | 489.8M | 383.22M |
| Current Ratio | 0.82x | 0.89x | 0.85x | 0.92x | 0.94x | 0.97x | 1.02x | 1.04x | 1.07x | 1.07x | 1.15x | 1.18x | 1.06x | 1.08x | 1.19x | 1.30x | 1.39x | 1.44x | 1.45x | 0.51x |
| Quick Ratio | 0.54x | 0.63x | 0.53x | 0.62x | 0.62x | 0.69x | 0.66x | 0.69x | 0.76x | 0.78x | 0.81x | 0.85x | 0.81x | 0.85x | 0.84x | 0.88x | 0.96x | 1.09x | 1.21x | 0.31x |
| Cash Conversion Cycle | -74.42 | -52.9 | -64.81 | -56.14 | -54.38 | -41.69 | -67.48 | -56.7 | -52.81 | -50.94 | -22.28 | -19.63 | -74.81 | -23.88 | -50.26 | -40.37 | -97.41 | -113.22 | -61.44 | -39.73 |
| Total Non-Current Liabilities | 1.36B | 1.54B | 1.45B | 1.35B | 1.39B | 1.24B | 1.3B | 980.88M | 836.24M | 912.11M | 568.98M | 14.63M | 295.24M | 459.6M | 281.43M | 260.62M | 207.97M | 356.99M | 101.77M | 125.34M |
| Long-Term Debt | 0 | 777.94M | 0 | 0 | 0 | 0 | 0 | 0 | 1.15M | 4.05M | 4.39M | 225.93K | 7.8M | 18M | 13.88M | 16.66M | 4.82M | 0 | 0 | 0 |
| Capital Lease Obligations | 609.9M | 777.94M | 765.4M | 664.8M | 716.34M | 583.69M | 646.3M | 331.07M | 182.45M | 175.88M | 90.27M | 3.45M | 106.49M | 172.93M | 111.31M | 98.49M | 97.9M | 167.46M | 94.64M | 119.95M |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 754.34M | -11.96M | 684.62M | 681.58M | 676.68M | 355.16M | 654.99M | 649.81M | 652.64M | 430.13M | 474.32M | 10.95M | 180.96M | 268.67M | 156.24M | 145.47M | 105.25M | 189.12M | 7.13M | 5.39M |
| Total Liabilities | 31.17B | 34.92B | 31.93B | 26.33B | 23.03B | 22.82B | 20.81B | 16.92B | 16.62B | 20.61B | 11.76B | 320.32M | 7.94B | 13.22B | 6.52B | 5.65B | 4.7B | 8.57B | 3.91B | 3.31B |
| Total Debt | 2.27B | 3.2B | 2.78B | 2.43B | 2.75B | 2.23B | 1.7B | 924.51M | 625.68M | 668M | 439M | 12.13M | 294.42M | 471.81M | 331.59M | 509.69M | 406.47M | 664.36M | 308.21M | 345.39M |
| Net Debt | -5.66B | -8.3B | -4.63B | -4.65B | -3.95B | -4.52B | -2.56B | -2.76B | -2.94B | -7.27B | -5.28B | -178.14M | -4.68B | -8.21B | -3.14B | -2.18B | -1.92B | -5.6B | -3.73B | -360.87M |
| Debt / Equity | 1.86x | 1.59x | 3.22x | 0.86x | 0.82x | 0.67x | 0.46x | 0.25x | 0.17x | 0.14x | 0.12x | 0.10x | 0.14x | 0.14x | 0.14x | 0.19x | 0.17x | 0.14x | 0.15x | - |
| Debt / EBITDA | 5.36x | 2.72x | 9.96x | 3.13x | 25.25x | 2.81x | 2.92x | 1.67x | 1.57x | 4.22x | 2.29x | 0.03x | 24.08x | - | - | - | - | - | - | - |
| Net Debt / EBITDA | -13.37x | -7.05x | -16.60x | -5.98x | -36.28x | -5.68x | -4.39x | -4.97x | -7.35x | -46.00x | -27.51x | -0.43x | -382.57x | - | - | - | - | - | - | - |
| Interest Coverage | 0.68x | - | 0.53x | 0.69x | 0.80x | -0.98x | 0.81x | 2.49x | 0.90x | 0.26x | 0.79x | 38.67x | -106.59x | -4.78x | -696.74x | -53.86x | -9.43x | 6.94x | -3.65x | -25.17x |
| Total Equity | 1.22B | 2.01B | 862.22M | 2.84B | 3.34B | 3.32B | 3.67B | 3.63B | 3.69B | 4.77B | 3.71B | 119.29M | 2.12B | 3.37B | 2.37B | 2.68B | 2.46B | 4.81B | 2.03B | -1.32B |
| Equity Growth % | -63.46% | -39.47% | -76.49% | -21.77% | -9.5% | -30.35% | -1.19% | 2947.28% | 74.59% | 41.68% | 56.36% | -95.55% | -14.08% | -30.05% | 17.09% | 303.38% | 340.05% | 711.18% | - | - |
| Book Value per Share | 3.33 | 6.52 | 2.67 | 8.81 | 10.36 | 9.93 | 11.46 | 11.34 | 11.30 | 14.66 | 11.46 | 0.37 | 6.47 | 10.35 | 7.27 | 8.23 | 7.60 | 14.76 | 6.22 | -4.04 |
| Total Shareholders' Equity | 1.22B | 2.01B | 862.22M | 2.84B | 3.34B | 3.32B | 3.67B | 3.63B | 3.69B | 4.77B | 3.71B | 119.29M | 2.12B | 3.37B | 2.37B | 2.68B | 2.46B | 4.81B | 2.03B | -1.32B |
| Common Stock | 1.04B | 949.05M | 903.04M | 840.01M | 792.41M | 719.96M | 677.48M | 622M | 573.78M | 719.96M | 453.51M | 13.9M | 340.53M | 498.66M | 280.76M | 262.26M | 65.2M | 302.63M | 65.2M | 56.87M |
| Retained Earnings | -21.16B | -30.14B | -25.96B | -23.46B | -21.45B | -19.16B | -17.38B | -15.68B | -14.11B | -17.54B | -10.45B | -314.67M | -8.5B | -393.83M | -6.33B | -5.41B | -1.98B | -1.74B | -2.38B | -1.6B |
| Treasury Stock | -353.2M | -320.81M | -307.57M | -286.1M | -269.89M | -245.22M | -230.75M | -211.85M | -195.43M | -245.22M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 1.35B | 1.25B | 1.1B | 927.45M | 837.04M | 758.9M | 920.76M | 539.56M | 16.21M | 385.75M | -11.62B | 265.19M | 212.5M | 113.77M | -4.28B | 69.62M | 34.24M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |