HEPS (D-MARKET Electronic Services & Trading) Cyclically Adjusted PS Ratio: (As of Jul. 16, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
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Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

HEPS D-MARKET Electronic Services & Trading HEPS
70 GF Score
Price $2.87
GF Value $2.15
Valuation Significantly Overvalued
! 7 Warning Signs
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What is D-MARKET Electronic Services & Trading Cyclically Adjusted PS Ratio?

D-MARKET Electronic Services & Trading does not have a history long enough to calculate Cyclically Adjusted Revenue per Share. Therefore GuruFocus does not calculate Cyclically Adjusted PS Ratio for this company.

Shiller PE for Stocks: The True Measure of Stock Valuation


D-MARKET Electronic Services & Trading  (NAS:HEPS) Cyclically Adjusted PS Ratio Explanation

Compared with the regular PS Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PS Ratio smoothed out the fluctuations of revenue during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PS Ratio should give similar results to regular PS Ratio.


D-MARKET Electronic Services & Trading Cyclically Adjusted PS Ratio Related Terms


D-MARKET Electronic Services & Trading Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for D-MARKET Electronic Services & Trading's Cyclically Adjusted PS Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

D-MARKET Electronic Services & Trading Cyclically Adjusted PS Ratio Chart

D-MARKET Electronic Services & Trading Annual Data
Trend Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PS Ratio
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D-MARKET Electronic Services & Trading Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Cyclically Adjusted PS Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 0.00

HEPS vs AMZN, BABA, PDD: Cyclically Adjusted PS Ratio Comparison

For the Internet Retail subindustry, D-MARKET Electronic Services & Trading's Cyclically Adjusted PS Ratio, along with its competitors' market caps and Cyclically Adjusted PS Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


D-MARKET Electronic Services & Trading Cyclically Adjusted PS Ratio vs Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, D-MARKET Electronic Services & Trading's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where D-MARKET Electronic Services & Trading's Cyclically Adjusted PS Ratio falls into.


HEPS
70GF Score
D-MARKET Electronic Services & Trading HEPS
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

D-MARKET Electronic Services & Trading Cyclically Adjusted PS Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PS Ratio takes the Revenue per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/S calculation. Because it considers this 10-year average, it's often referred to as the CAPS Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio.

D-MARKET Electronic Services & Trading does not have a history long enough to calculate Cyclically Adjusted Revenue per Share. Therefore GuruFocus does not calculate Cyclically Adjusted PS Ratio for this company.

Is D-MARKET Electronic Services & Trading (HEPS) Overvalued in 2026?

Based on GuruFocus' analysis, D-MARKET Electronic Services & Trading stock appears to be overvalued. The current stock price of $2.87 is trading 33.5% above its estimated GF Value™ of $2.15. GuruFocus considers D-MARKET Electronic Services & Trading to be Significantly Overvalued.

Key valuation signals for HEPS:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: $2.15 vs. price of $2.87 (33.5% above fair value)
  • GF Score™: 70/100 with 7 warning signs

No single metric tells the full story. See the HEPS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


D-MARKET Electronic Services & Trading Business Description

Other Exchanges HEPSD:Kazakhstan8WZ:Germany
Address Kustepe Mahallesi Mecidiyekoy Yolu, Trump Tower, Cadde no: 12 Tower: 2 Floor:2, K2 Sisli, Istanbul, TUR, 34387
D-MARKET Electronic Services & Trading offers an e-commerce platform in Turkey and the surrounding region. The company is comprised of one reportable segment, namely e-commerce operations. It's portfolio offers its retail customers a wide selection of merchandise including electronics and non-electronics (including books, sports, toys, kids and baby products, cosmetics, furniture, etc). The Group derives revenue from the sales of goods, marketplace revenues and other revenues.
70GF Score

Get the complete analysis for HEPS

Cyclically Adjusted PS Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$2.87
Price
$2.15
GF Value