D-Market (8WZ) AI Stock Analysis

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D-Market

(Frankfurt:8WZ)

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Positive Factors

Long-term revenue scaleThe company has built substantial revenue scale over multiple reporting periods, indicating continued relevance in Türkiye’s digital-commerce market. This broader base can support marketplace development, seller services and operating leverage if management stabilizes costs and improves monetization.

Negative Factors

Recent GMV and revenue contractionThe latest quarter shows weaker transaction value and revenue even as customer and order metrics increased modestly, suggesting pressure on basket economics or monetization. If sustained, this could weaken scale benefits and make a return to profitable growth more difficult.

D-Market (8WZ) vs. iShares MSCI Germany ETF (EWG)

Market Cap: EUR 968.08M
Dividend Yield: ―
Average Volume (3M): ―
Price to Earnings (P/E): -5.7
Beta (1Y): 0.29
Revenue Growth: 9.40%
EPS Growth: ―
Country: Germany
Employees: 3,611
Sector: Consumer Cyclical
Sector Strength: 61
Industry: Specialty Retail

D-Market Business Overview & Revenue Model

Company Description

D-Market Elektronik Hizmetler ve Ticaret A.S., founded in 2000 and headquartered in Istanbul, Turkey, is a prominent enterprise focused on managing a diverse portfolio of e-commerce platforms throughout Turkey. The company's flagship online retail de...

D-Market Earnings Call Summary

Earnings Call Date:Apr 30, 2025(Q4-2024)|% Change Since:9.82%|Next Earnings Date:May 08, 2025

Earnings Call SentimentNeutral

Hepsiburada showed strong growth in GMV and customer base, with successful expansion of strategic programs like Hepsiburada Premium and HepsiJet. However, the company faced significant challenges from macroeconomic pressures and increased operating expenses. Despite these challenges, the overall financial performance, particularly in revenue growth areas, indicates a balanced outlook.

Positive Updates

GMV Growth

Hepsiburada achieved a real GMV growth of 12.1% in 2024, with an unadjusted inflation basis growth of 74% year-on-year.

Negative Updates

Macroeconomic Headwinds and Boycotts

The start of 2025 was challenging with macroeconomic pressures on consumer purchasing power and boycotts against shopping.

Company Guidance

During the call, Hepsiburada provided guidance on several key metrics for the fiscal year 2024. The company achieved a real GMV growth of 12.1% and a growth contribution margin of 11.3%, marking a 2.1 percentage point improvement year-on-year. Their EBITDA as a percentage of GMV expanded to 1.1%, a 0.7 percentage point increase from the previous year. On an unadjusted inflation basis, GMV grew by 74% year-on-year, and EBITDA as a percentage of GMV reached 2.1%. The company's active customer base grew by 235,000 to 12.2 million, with order frequency over the last 12 months increasing by 14% to 10.8. Hepsiburada's delivery service, HepsiJet, delivered 72% of total parcels, while the lending solutions reached a total volume of 16.2 billion lira, a 2.6 times increase from 2023. Furthermore, HepsiJet increased its off-platform volume by 8% to 9% year-on-year, with its off-platform share rising to 34.6% of its total volume.

D-Market Risk Analysis

D-Market disclosed 77 risk factors in its most recent earnings report. D-Market reported the most risks in the "Finance & Corporate" category.

Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy

Latest Risks Added

0 New Risks

D-Market Peers Comparison

Overall Rating

UnderperformOutperform

Sector (61)

Financial Indicators

DE:8WZ against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SE	74Outperform	$44.02B	25.63	13.71%	―	44.12%	19.70%
EBAY	71Outperform	$53.86B	25.58	46.11%	1.02%	15.33%	-0.34%
MELI	71Outperform	$76.65B	39.52	25.15%	―	47.07%	-9.00%
Sector *	61Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
CPNG	48Neutral	$28.66B	-20.12	-37.92%	―	7.41%	-450.60%
JMIA	45Neutral	$712.53M	-6.01	-304.73%	―	27.37%	18.19%

* Consumer Cyclical Sector Average

Performance Comparison

DE:8WZ and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
DE:8WZ	D-Market Electronic Services & Trading	2.46	0.54	28.13%
EBAY	Ebay Inc	120.14	39.01	48.09%
MELI	Mercadolibre, Inc.	1475.09	-582.63	-28.31%
SE	Sea Ltd	74.52	-71.23	-48.87%
JMIA	Jumia Technologies	5.63	-4.52	-44.53%
CPNG	Coupang, Inc. Class A	15.29	-12.52	-45.02%

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

D-Market AI Stock Analysis