Hepsiburada (ADR) (HEPS)
Combines a marketplace, direct retail, payments, delivery, loyalty, and advertising in Türkiye.
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Runs a Türkiye-focused e-commerce platform combining a third-party marketplace, first-party direct retail, and supporting services. The marketplace is its core business, while payments, delivery, fulfillment, loyalty, and advertising extend the customer proposition under Kaspi.kz control.
Runs a Türkiye-focused e-commerce platform built around a third-party marketplace, its core business, alongside first-party direct retail. Suppliers sell wholesale merchandise for direct retail, while marketplace merchants list through the platform.
Hepsipay supplies e-money and payment services; Hepsijet handles last-mile delivery; and HepsiAd provides advertising. Hepsiburada Premium, fulfillment, and affordability solutions extend the customer proposition. The loyalty offer sits alongside these services for customers.
The business is concentrated in Türkiye and operates under Kaspi.kz control. The model depends on the marketplace, direct-retail inventory, and its payment, delivery, fulfillment, loyalty, and advertising services working together.
Company facts
No analyst consensus on record.
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $185.2M · Total debt $48.5M · Total assets $678.1M · Shareholders' equity −$11.9M
- Revenue
- $467.3M
- Operating income
- −$13.7M
- Net income
- −$38.7M
Reported in TRY, converted at the latest exchange rate
No dividends on record.
| Institutions | 8.07% | 25.62M ADS | |
|---|---|---|---|
| 35 holders · as of Jun 30, 2026 | |||
| Insiders | 66.58% | 211.21M ADS | |
| 4 holders · as of Feb 18, 2022 | |||
| Other | 25.35% | 80.40M ADS | |
| remainder | |||
317.23M ADS as of Sep 5, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
The share count is from the company's Dec 2022 annual report; nothing newer is on file here.
This company has 2 share classes; every stake here is a share of the whole company.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Hanzade Vasfiye Doğan BoynerInsider | 22.02% | 69.86M | filed Feb 18, 2022 |
Vuslat Doğan SabancıInsider | 15.30% | 48.54M | filed Feb 18, 2022 |
YaşarInsider | 15.30% | 48.54M | filed Feb 18, 2022 |
Arzuhan Doğan YalçındağInsider | 13.96% | 44.27M | filed Feb 18, 2022 |
VR Advisory Services LtdInstitution | 6.11% | 19.39M A ADS | as of Jun 30, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
- Alibaba Group (ADR)
Trendyol overlaps in broad marketplace, logistics and delivery
- Amazon
Broad online retail and seller-platform overlap in Türkiye
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Hepsiburada (ADR) | $2.54 | +1.81% | $789.9M | — | — | 0.4 | +4,692.8% |
| Alibaba Group (ADR) | $117.56 | +1.56% | $277.46B | 26.3 | 17.8 | 1.8 | +14.7% |
| Amazon | $257.21 | −0.48% | $2.78T | 20.8 | 27.6 | 3.6 | +19.6% |
| Median | 23.5 | 22.7 | 2.7 | +17.2% |