{"id":52764,"date":"2025-11-04T12:30:58","date_gmt":"2025-11-04T12:30:58","guid":{"rendered":"https:\/\/amazing-banzai.188-132-230-163.plesk.page\/index.php\/2025\/11\/04\/turk-traktor-ttrak-2025-3-ceyrek-bilanco-yorumu\/"},"modified":"2025-11-04T12:30:58","modified_gmt":"2025-11-04T12:30:58","slug":"turk-traktor-ttrak-2025-3-ceyrek-bilanco-yorumu","status":"publish","type":"post","link":"https:\/\/amazing-banzai.188-132-230-163.plesk.page\/index.php\/2025\/11\/04\/turk-traktor-ttrak-2025-3-ceyrek-bilanco-yorumu\/","title":{"rendered":"T\u00fcrk Trakt\u00f6r (TTRAK) 2025 3. \u00e7eyrek bilan\u00e7o yorumu"},"content":{"rendered":"<p>T\u00fcrk Trakt\u00f6r ve Ziraat Makineleri A.\u015e.\u00a0(TTRAK) 2025 y\u0131l\u0131 3. \u00e7eyrek finansal sonu\u00e7lar\u0131 27 Ekim g\u00fcn\u00fc kamuya a\u00e7\u0131kland\u0131. Bilan\u00e7o sonras\u0131 \u015eirketin finansal tablolar\u0131 i\u00e7in de\u011ferlendirme, Deniz Yat\u0131r\u0131m Menkul K\u0131ymetler A.\u015e.\u2019den geldi. Kurum de\u011ferlendirmesinde \u015fu ifadeleri kulland\u0131;<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"576\" src=\"https:\/\/rotaborsa.com\/wp-content\/uploads\/2024\/12\/ttrak5-1024x576.jpg\" alt=\"| Rota Borsa\" class=\"wp-image-256439\" title=\"Pegasus (PGSUS) hisse hedef fiyat 2024! 9 HABERLER, \u015eirket Haberleri Rota Borsa\" \/><\/figure>\n<h2 class=\"wp-block-heading\">T\u00fcrk Trakt\u00f6r ve Ziraat Makineleri A.\u015e. hisse haberleri \u2013 TTRAK hisse yorumu<\/h2>\n<p>Deniz Yat\u0131r\u0131m de\u011ferlendirmesi \u015fu \u015fekilde; \u201c<strong><em>De\u011ferlendirme: <\/em><\/strong><em>Olumsuz<\/em>; T\u00fcrk Trakt\u00f6r, 3\u00c725\u2019te 11.294 milyon TL gelir (Konsensus: 11.245 milyon TL, Deniz Yat\u0131r\u0131m: 10.614 milyon TL), 1.583 milyon TL FAV\u00d6K (Konsensus: 1.183 milyon TL\/ Deniz Yat\u0131r\u0131m: 887 milyon TL) ve 284 milyon TL net kar (Konsensus: 319 milyon TL\/ Deniz Yat\u0131r\u0131m: 223 milyon TL) a\u00e7\u0131klad\u0131. Enflasyon muhasebesi nedeniyle 3\u00c725 finansallar\u0131nda, parasal kazan\u00e7\/kay\u0131p kalemi alt\u0131nda 818 milyon TL\u2019lik olumlu etki olu\u015ftu.<br \/>\u25a0 Bilan\u00e7oda olumlu okudu\u011fumuz detaylar<br \/>\u2713 Beklentilerin \u00fczerinde a\u00e7\u0131klanan FAV\u00d6K ve FAV\u00d6K marj\u0131<br \/>\u25a0 Bilan\u00e7oda olumsuz okudu\u011fumuz detaylar<br \/>\u2713 Reel anlamda azalan has\u0131lat, finansman giderindeki art\u0131\u015f, artan net bor\u00e7 pozisyonu, beklentilerde yap\u0131lan a\u015fa\u011f\u0131 y\u00f6nl\u00fc revizeler<br \/>\u25a0 Bilan\u00e7oya dair k\u0131sa de\u011ferlendirmemiz<br \/>\u2192 3\u00c725 finansallar\u0131, \u00f6nceki \u00e7eyre\u011fe k\u0131yasla operasyonel karl\u0131l\u0131kta toparlanma sinyalleri g\u00f6sterse de y\u0131ll\u0131k bazda daralan gelir ve net karda g\u00f6zlenen sert d\u00fc\u015f\u00fc\u015f, talep ko\u015fullar\u0131n\u0131n zay\u0131f seyretti\u011fini ve \u00f6nceki d\u00f6nemlerin y\u00fcksek baz etkisinin hala bask\u0131 yaratt\u0131\u011f\u0131n\u0131 ortaya koymaktad\u0131r. Adet bazl\u0131 sat\u0131\u015flar, son y\u0131llar\u0131n en d\u00fc\u015f\u00fck seviyelerine gerilerken, hacim taraf\u0131ndaki zay\u0131fl\u0131k hem b\u00fcy\u00fcmeyi hem de karl\u0131l\u0131\u011f\u0131 a\u015fa\u011f\u0131 \u00e7ekmi\u015ftir. \u015eirket\u2019in, 2025 y\u0131l sonu beklentilerinde yapt\u0131\u011f\u0131 a\u015fa\u011f\u0131 y\u00f6nl\u00fc revizyonlar da bu g\u00f6r\u00fc\u015f\u00fc desteklemektedir. \u00d6zellikle i\u00e7 pazardaki daralma ve ihracat taraf\u0131nda beklenen ivmenin s\u0131n\u0131rl\u0131 kalmas\u0131 \u00f6n\u00fcm\u00fczdeki d\u00f6nem i\u00e7in temkinli kal\u0131nmas\u0131 gerekti\u011fine i\u015faret etmektedir. Bu \u00e7er\u00e7evede, modelimizdeki s\u0131n\u0131rl\u0131 yukar\u0131 potansiyele kar\u015f\u0131n \u00f6nerimizi TUT olarak koruman\u0131n do\u011fru karar oldu\u011funa inan\u0131yoruz.<br \/>\u25a0 \u015eirket\u2019in trakt\u00f6r \u00fcretimi adetsel bazda 2025 y\u0131l\u0131n\u0131n ilk dokuz ay\u0131nda bir \u00f6nceki y\u0131la g\u00f6re 8 azal\u0131rken, trakt\u00f6r ihracat\u0131 % gerilemi\u015ftir. Ayn\u0131 d\u00f6nemde, yurt i\u00e7i trakt\u00f6r sat\u0131\u015f\u0131 12.568 adet ile y\u0131ll\u0131k H; yurt d\u0131\u015f\u0131 trakt\u00f6r sat\u0131\u015f\u0131 ise 8.164 adet ile y\u0131ll\u0131k % gerilemi\u015ftir.<br \/>\u25a0 9A25\u2019te toplam sat\u0131\u015f geliri 39.220 milyon TL ile bir \u00f6nceki y\u0131l\u0131n ayn\u0131 d\u00f6nemine g\u00f6re A azal\u0131\u015f g\u00f6sterdi. \u015eirket, 3\u00c725\u2019te y\u0131ll\u0131k bazda 4 azal\u0131\u015fla 11.294 milyon TL sat\u0131\u015f geliri kaydetti.<br \/>\u25a0 FAV\u00d6K 3\u00c725\u2019te y\u0131ll\u0131k 5 azal\u0131\u015fla 1.583 milyon TL seviyesinde ger\u00e7ekle\u015firken, FAV\u00d6K marj\u0131 0.1 puan azal\u0131\u015fla ,0 oldu. 3\u00c725\u2019te br\u00fct karl\u0131l\u0131\u011f\u0131n y\u0131ll\u0131k B gerilemesi ve faaliyet giderlerinin y\u00fcksek seyri FAV\u00d6K\u2019\u00fc bask\u0131lad\u0131.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" loading=\"lazy\" width=\"731\" height=\"357\" src=\"https:\/\/rotaborsa.com\/wp-content\/uploads\/2025\/10\/477A9008-7868-4213-8AA1-D9928E989627.png\" alt=\"| Rota Borsa\" class=\"wp-image-371972\" title=\"| Rota Borsa\" \/><\/figure>\n<p>\u25a0 \u015eirket, 3\u00c725 d\u00f6neminde y\u0131ll\u0131k bazda w azal\u0131\u015fla 284 milyon TL net kar a\u00e7\u0131klad\u0131 (2\u00c725: 364 milyon TL net kar, 3\u00c724: 1.235 milyon TL net kar). Enflasyon muhasebesi nedeniyle parasal kazan\u00e7\/kay\u0131p kalemi alt\u0131nda 818 milyon TL\u2019lik olumlu etki karl\u0131l\u0131\u011f\u0131 desteklerken, finansman giderlerinin bir \u00f6nceki y\u0131l\u0131n ayn\u0131 \u00e7eyre\u011fine k\u0131yasla 4 kattan fazla art\u0131\u015f g\u00f6stermesi karl\u0131l\u0131k \u00fczerinde bask\u0131 olu\u015fturdu.<br \/>\u25a0 Eyl\u00fcl 2025 itibar\u0131yla \u015eirket\u2019in net bor\u00e7 pozisyonu 10.771 milyon TL\u2019ye, net bor\u00e7\/FAV\u00d6K rasyosu ise 1.8x\u2019e y\u00fckseldi. (Haziran 2025 8.115 milyon TL net bor\u00e7 pozisyonu) (Haziran rasyosu 1,2x net bor\u00e7\/FAV\u00d6K).<br \/>\u25a0 9A25 d\u00f6neminde i\u015fletme faaliyetlerinden sa\u011flanan nakit ak\u0131\u015f\u0131 1.914 milyon TL ile ge\u00e7ti\u011fimiz y\u0131l\u0131n ayn\u0131 d\u00f6nemine k\u0131yasla sert d\u00fc\u015f\u00fc\u015f g\u00f6sterdi (9A2024: 8.050 milyon TL). Yat\u0131r\u0131m faaliyetlerinde kaynaklanan nakit \u00e7\u0131k\u0131\u015f\u0131 2.638 milyon TL olarak ger\u00e7ekle\u015fti.<br \/>\u25a0 \u015eirket, yurt i\u00e7i trakt\u00f6r pazar\u0131nda daralma beklentileri ile 2025 y\u0131l\u0131na ait beklentilerinde revizyona gitti. Buna g\u00f6re; i) T\u00fcrkiye toplam trakt\u00f6r pazar\u0131 a\u00e7\u0131s\u0131ndan b\u00fcy\u00fckl\u00fc\u011f\u00fcn\u00fc 38000-42000 adet (\u00f6nceki 40000-46000 adet) ii) T\u00fcrk Trakt\u00f6r i\u00e7in 15500-17000 (\u00f6nceki 18000-22000) yurt i\u00e7i sat\u0131\u015f\u0131 iii) T\u00fcrk Trakt\u00f6r i\u00e7in 10000-12000 yurt d\u0131\u015f\u0131 sat\u0131\u015f\u0131 iv) 75-90 milyon dolar (\u00f6nceki 75- 100 milyon dolar) yat\u0131r\u0131m harcamas\u0131 olmas\u0131 y\u00f6n\u00fcndedir.<br \/>\u25a0 <strong><em>Genel de\u011ferlendirme:<\/em><\/strong> Hisse, y\u0131l ba\u015f\u0131ndan itibaren BIST 100 endeksinin ) alt\u0131nda performans g\u00f6stermi\u015ftir. Geriye d\u00f6n\u00fck 12 ayl\u0131k verilere g\u00f6re hisse 42,4x F\/K ve 11,4x FD\/FAV\u00d6K \u00e7arpanlar\u0131ndan i\u015flem g\u00f6rmektedir. Devam eden s\u0131k\u0131 finansal ko\u015fullar\u0131n kayda de\u011fer bir s\u00fcre daha korunaca\u011f\u0131, maliyetlerin y\u00fcksek kalaca\u011f\u0131 ve i\u00e7 talebin bask\u0131lanaca\u011f\u0131 d\u00fc\u015f\u00fcncelerimize paralel, hisse fiyatlamas\u0131n\u0131n gelece\u011fi a\u00e7\u0131s\u0131ndan riskler oldu\u011funu de\u011ferlendirdi\u011fimizi eklemek isteriz.\u201d<\/p>\n<div class=\"kanews-banner kanews-banner-single\">\n<div style=\"min-height:280px\" data-empower-zone=\"159899\" class=\"empower-ad\"><\/div>\n<\/div>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"887\" src=\"https:\/\/rotaborsa.com\/wp-content\/uploads\/2025\/10\/25B9540B-45EE-4873-B020-F38838AF5E2B-1024x887.png\" alt=\"| Rota Borsa\" class=\"wp-image-371973\" title=\"| Rota Borsa\" \/><\/figure>\n<figure class=\"wp-block-embed is-type-wp-embed is-provider-rota-borsa wp-block-embed-rota-borsa\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"wp-embedded-content\" data-secret=\"Z9NpWWkQaO\"><p><a href=\"https:\/\/rotaborsa.com\/tupras-tuprs-hisseleri-icin-yeni-hedef-fiyat-aciklandi-58\/\">T\u00fcpra\u015f (TUPRS) hisseleri i\u00e7in yeni hedef fiyat a\u00e7\u0131kland\u0131<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<p>Bizi WhatsApp Kanal\u0131m\u0131z \u00fczerinden de takip edebilirsiniz. WhatsApp kanal\u0131 linki:\u00a0<a href=\"https:\/\/whatsapp.com\/channel\/0029Vb6J7JQ6GcG8uLrIR81x\" target=\"_blank\" rel=\"noreferrer noopener\"><mark><mark style=\"background-color:#ffffff;color:#01b673\" class=\"has-inline-color\">https:\/\/whatsapp.com\/channel\/0029Vb6J7JQ6GcG8uLrIR81x<\/mark><\/mark><\/a><br \/>Bizi Telegram \u00dczerinden de takip edebilirsiniz. Telegram kanal\u0131 linki:\u00a0<a href=\"https:\/\/t.me\/rotaborsa_halkaarz\" target=\"_blank\" rel=\"noreferrer noopener\"><mark><mark style=\"background-color:#ffffff\" class=\"has-inline-color has-vivid-red-color\">https:\/\/t.me\/rotaborsa_halkaarz<\/mark><\/mark><\/a><\/p>\n<p><em><strong>Deniz Yat\u0131r\u0131m yasal uyar\u0131s\u0131:<\/strong><\/em> <em>Bu rapor\/e-posta i\u00e7erisinde yer alan de\u011ferlendirmeler Deniz Yat\u0131r\u0131m Menkul K\u0131ymetler A.\u015e. taraf\u0131ndan, g\u00fcvenilir oldu\u011funa inan\u0131lan kaynaklardan elde edilen bilgi ve veriler kullan\u0131larak genel nitelikte haz\u0131rlanm\u0131\u015ft\u0131r. Raporda yer alan ifadeler, mali durumunuz ile risk ve getiri tercihlerinize uygun olmayabilir ve hi\u00e7bir \u015fekilde al\u0131\u015f veya sat\u0131\u015f yap\u0131lmas\u0131 y\u00f6n\u00fcnde y\u00f6nlendirme olarak de\u011ferlendirilmemelidir. Deniz Yat\u0131r\u0131m, bu bilgilerin do\u011fru, eksiksiz ve de\u011fi\u015fmez oldu\u011funu garanti etmemektedir. Bu sebeple, okuyucular\u0131n, bu raporlardan elde edilen bilgilere dayanarak hareket etmeden \u00f6nce, bilgilerin do\u011frulu\u011funu teyit etmeleri \u00f6nerilir ve bu bilgilere dayan\u0131larak ald\u0131klar\u0131 kararlarda sorumluluk okuyucular\u0131n kendilerine aittir. Bilgilerin eksikli\u011fi ve yanl\u0131\u015fl\u0131\u011f\u0131ndan Deniz Yat\u0131r\u0131m hi\u00e7bir \u015fekilde sorumlu tutulamaz. Ayr\u0131ca, Deniz Yat\u0131r\u0131m ve DenizBank Finansal Hizmetler Grubu \u00e7al\u0131\u015fanlar\u0131 ve dan\u0131\u015fmanlar\u0131n\u0131n, herhangi bir \u015fekilde bu rapor\/e-posta i\u00e7erisinde yer alan bilgiler dolay\u0131s\u0131yla ortaya \u00e7\u0131kabilecek, do\u011frudan veya dolayl\u0131 zararlarla ilgili herhangi bir sorumlulu\u011fu yoktur. Burada yer alan bilgiler sermaye piyasas\u0131 arac\u0131na y\u00f6nelik bir yat\u0131r\u0131m tavsiyesi, al\u0131m-sat\u0131m \u00f6nerisi ya da getiri vaadi de\u011fildir ve yat\u0131r\u0131m dan\u0131\u015fmanl\u0131\u011f\u0131 kapsam\u0131nda yer almamaktad\u0131r. Yat\u0131r\u0131m Dan\u0131\u015fmanl\u0131\u011f\u0131 hizmeti; yetkili kurulu\u015flar taraf\u0131ndan imzalanacak yat\u0131r\u0131m dan\u0131\u015fmanl\u0131\u011f\u0131 s\u00f6zle\u015fmesi \u00e7er\u00e7evesinde ki\u015filerin risk ve getiri tercihleri dikkate al\u0131narak ki\u015fiye \u00f6zel sunulmaktad\u0131r. Sadece burada yer alan bilgilere dayan\u0131larak yat\u0131r\u0131m karar\u0131 verilmesi beklentilerinize uygun sonu\u00e7lar do\u011furmayabilir.<\/em><br \/><em><strong>Rota Borsa yasal uyar\u0131s\u0131:<\/strong> Burada yer alan yat\u0131r\u0131m bilgi, yorum ve tavsiyeleri yat\u0131r\u0131m dan\u0131\u015fmanl\u0131\u011f\u0131 kapsam\u0131nda de\u011fildir. Yat\u0131r\u0131m dan\u0131\u015fmanl\u0131\u011f\u0131 hizmeti, arac\u0131 kurumlar, portf\u00f6y y\u00f6netim \u015firketleri, mevduat kabul etmeyen bankalar ile m\u00fc\u015fteri aras\u0131nda imzalanacak yat\u0131r\u0131m dan\u0131\u015fmanl\u0131\u011f\u0131 s\u00f6zle\u015fmesi \u00e7er\u00e7evesinde sunulmaktad\u0131r. Burada yer alan yorum ve tavsiyeler, yorum ve tavsiyede bulunanlar\u0131n ki\u015fisel g\u00f6r\u00fc\u015flerine dayanmaktad\u0131r. Bu g\u00f6r\u00fc\u015fler, mali durumunuz ile risk ve getiri tercihlerinize uygun olmayabilir. Bu nedenle sadece burada yer alan bilgilere dayan\u0131larak yat\u0131r\u0131m karar\u0131 verilmesi beklentilerinize uygun sonu\u00e7lar do\u011furmayabilir.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>T\u00fcrk Trakt\u00f6r ve Ziraat Makineleri A.\u015e.\u00a0(TTRAK) 2025 y\u0131l\u0131 3. \u00e7eyrek finansal sonu\u00e7lar\u0131 27 Ekim g\u00fcn\u00fc kamuya a\u00e7\u0131kland\u0131. Bilan\u00e7o sonras\u0131 \u015eirketin finansal tablolar\u0131 i\u00e7in de\u011ferlendirme, Deniz Yat\u0131r\u0131m Menkul K\u0131ymetler A.\u015e.\u2019den geldi. Kurum de\u011ferlendirmesinde \u015fu ifadeleri kulland\u0131; T\u00fcrk Trakt\u00f6r ve Ziraat Makineleri A.\u015e. hisse haberleri \u2013 TTRAK hisse yorumu Deniz Yat\u0131r\u0131m de\u011ferlendirmesi \u015fu \u015fekilde; \u201cDe\u011ferlendirme: Olumsuz; T\u00fcrk [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":52765,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-52764","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bilanco-haberleri"],"_links":{"self":[{"href":"https:\/\/amazing-banzai.188-132-230-163.plesk.page\/index.php\/wp-json\/wp\/v2\/posts\/52764","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/amazing-banzai.188-132-230-163.plesk.page\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/amazing-banzai.188-132-230-163.plesk.page\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/amazing-banzai.188-132-230-163.plesk.page\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/amazing-banzai.188-132-230-163.plesk.page\/index.php\/wp-json\/wp\/v2\/comments?post=52764"}],"version-history":[{"count":0,"href":"https:\/\/amazing-banzai.188-132-230-163.plesk.page\/index.php\/wp-json\/wp\/v2\/posts\/52764\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/amazing-banzai.188-132-230-163.plesk.page\/index.php\/wp-json\/wp\/v2\/media\/52765"}],"wp:attachment":[{"href":"https:\/\/amazing-banzai.188-132-230-163.plesk.page\/index.php\/wp-json\/wp\/v2\/media?parent=52764"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amazing-banzai.188-132-230-163.plesk.page\/index.php\/wp-json\/wp\/v2\/categories?post=52764"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amazing-banzai.188-132-230-163.plesk.page\/index.php\/wp-json\/wp\/v2\/tags?post=52764"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}