{"id":63240,"date":"2026-01-02T12:55:25","date_gmt":"2026-01-02T12:55:25","guid":{"rendered":"https:\/\/amazing-banzai.188-132-230-163.plesk.page\/index.php\/2026\/01\/02\/dogus-otomotiv-doas-3c2025-bilanco-yorumu\/"},"modified":"2026-01-02T12:55:25","modified_gmt":"2026-01-02T12:55:25","slug":"dogus-otomotiv-doas-3c2025-bilanco-yorumu","status":"publish","type":"post","link":"https:\/\/amazing-banzai.188-132-230-163.plesk.page\/index.php\/2026\/01\/02\/dogus-otomotiv-doas-3c2025-bilanco-yorumu\/","title":{"rendered":"Do\u011fu\u015f Otomotiv (DOAS) 3\u00c72025 bilan\u00e7o yorumu"},"content":{"rendered":"<p>Do\u011fu\u015f Otomotiv Servis ve Ticaret A.\u015e. (DOAS) 2025 y\u0131l\u0131 3. \u00e7eyrek finansal sonu\u00e7lar\u0131 kamuya a\u00e7\u0131kland\u0131. <a href=\"https:\/\/rotaborsa.com\/kategori\/haberler\/bilanco-haberleri\/\">Bilan\u00e7o <\/a>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-full\"><img decoding=\"async\" loading=\"lazy\" width=\"1280\" height=\"720\" src=\"https:\/\/rotaborsa.com\/wp-content\/uploads\/2024\/09\/doas-3.jpg\" alt=\"| Rota Borsa\" class=\"wp-image-209230\" title=\"2 kurum Ford Otomotiv (FROTO) i\u00e7in hedef fiyatlar\u0131n\u0131 a\u00e7\u0131klad\u0131 6 HABERLER, G\u00fcndemdekiler, \u015eirket Haberleri Rota Borsa\"><\/figure>\n<h2 class=\"wp-block-heading\">Do\u011fu\u015f Otomotiv Servis ve Ticaret A.\u015e.\u00a0hisse haberleri \u2013 DOAS hisse yorumu<\/h2>\n<p>Deniz Yat\u0131r\u0131m de\u011ferlendirmesi \u015fu \u015fekilde; \u201cDo\u011fu\u015f Otomotiv, 3\u00c725 d\u00f6neminde 58.297 milyon TL sat\u0131\u015f geliri (Konsens\u00fcs: 54.672 milyon TL \/ Deniz Yat\u0131r\u0131m: 56.745 milyon TL), 4.323 milyon TL FAV\u00d6K (Konsens\u00fcs: 3.390 milyon TL \/ Deniz Yat\u0131r\u0131m: 3.754 milyon TL) ve 2.120 milyon TL net kar (Konsensus: 1.502 milyon TL \/ Deniz Yat\u0131r\u0131m: 2.386 milyon TL) a\u00e7\u0131klad\u0131. 3\u00c725 d\u00f6nemi finansallar\u0131nda, parasal kazan\u00e7\/kay\u0131p kalemi alt\u0131nda<br \/>561 milyon TL\u2019lik olumlu etki olu\u015ftu.<br \/>\u25a0 Bilan\u00e7oda olumlu okudu\u011fumuz detaylar<br \/>\u2713 Y\u0131ll\u0131k bazda sat\u0131\u015f geliri, FAV\u00d6K ve net kar taraf\u0131nda ger\u00e7ekle\u015fen art\u0131\u015fa ek olarak beklentilerde yap\u0131lan yukar\u0131 y\u00f6nl\u00fc revizyon.<br \/>\u25a0 Bilan\u00e7oda olumsuz okudu\u011fumuz detaylar<br \/>\u2713 Artan net bor\u00e7 pozisyonu ve N\u0130S.<br \/>\u25a0 Bilan\u00e7oya dair k\u0131sa de\u011ferlendirmemiz<br \/>\u2192 S\u00fcregelen zay\u0131f finansal sonu\u00e7lar\u0131n k\u0131smen toparlanmaya ba\u015flam\u0131\u015f olmas\u0131na ek olarak sat\u0131\u015f adedi beklentilerinde yap\u0131lan revizyonu olumlu olarak de\u011ferlendirirken, artan net bor\u00e7 ve net i\u015fletme sermayesinin bu etkiyi s\u0131n\u0131rland\u0131rabilece\u011fini d\u00fc\u015f\u00fcn\u00fcyoruz.<br \/>\u25a0 Do\u011fu\u015f Otomotiv\u2019in 9A25 d\u00f6neminde Skoda hari\u00e7 toptan sat\u0131\u015f adetleri ge\u00e7en y\u0131l\u0131n ayn\u0131 d\u00f6nemine g\u00f6re  artarak 107.646 adet olarak ger\u00e7ekle\u015fmi\u015ftir. Bu paralelde \u015eirket, 2025 y\u0131l\u0131 sat\u0131\u015f adedi beklentilerinde yukar\u0131 y\u00f6nl\u00fc, yat\u0131r\u0131m harcamas\u0131nda ise a\u015fa\u011f\u0131 y\u00f6nl\u00fc revizyon ger\u00e7ekle\u015ftirdi. Hat\u0131rlayacak olursak 2025 y\u0131l\u0131 beklentileri; i) 130.000 (\u0160KODA hari\u00e7) sat\u0131\u015f adedi ii) 5,7 milyar TL yat\u0131r\u0131m harcamas\u0131 y\u00f6n\u00fcndeydi. Revize 2025 y\u0131l\u0131 beklentileri; i) 150.000 (\u0160KODA hari\u00e7) sat\u0131\u015f adedi ii) 5,0 milyar TL yat\u0131r\u0131m harcamas\u0131 y\u00f6n\u00fcndedir.<br \/>\u25a0 \u015eirket\u2019in sat\u0131\u015f geliri 3\u00c725 d\u00f6neminde  art\u0131\u015fla 58.297 milyon TL olarak ger\u00e7ekle\u015fti.<br \/>\u25a0 3\u00c725 d\u00f6neminde FAV\u00d6K F art\u0131\u015fla 4.323 milyon TL, FAV\u00d6K marj\u0131 1,6 puan art\u0131\u015fla %7,4 seviyesinde ger\u00e7ekle\u015fti.<br \/>\u25a0 \u015eirket, 3\u00c725 d\u00f6neminde 850 milyon TL seviyesinde net di\u011fer gelir (3\u00c724: 86 milyon TL net gider) 1.956 milyon TL seviyesinde net finansman gideri (3\u00c724: 1.247 milyon TL net finansman gideri) kaydetti. Ayr\u0131ca, parasal kazan\u00e7\/kay\u0131p kalemi alt\u0131nda 561 milyon TL\u2019lik olumlu etki olu\u015ftu.<br \/>\u25a0 \u015eirket, 3\u00c725 d\u00f6neminde y\u0131ll\u0131k bazda P2 art\u0131\u015fla 2.120 milyon TL net kar a\u00e7\u0131klad\u0131.<br \/>\u25a0 3\u00c725 d\u00f6nem sonu itibariyle \u015eirket\u2019in 23.846 milyon TL net bor\u00e7 pozisyonu bulunmaktad\u0131r (2\u00c725: 21.177 milyon TL net bor\u00e7).<br \/>\u25a0 \u015eirket, y\u0131l\u0131n \u00fc\u00e7\u00fcnc\u00fc \u00e7eyre\u011finde i\u015fletme faaliyetlerinden 2.077 milyon TL nakit \u00e7\u0131k\u0131\u015f\u0131 ya\u015fad\u0131. Bir \u00f6nceki \u00e7eyrekte 325 milyon TL ve bir \u00f6nceki y\u0131l ayn\u0131 \u00e7eyrekte 214 milyon TL nakit \u00e7\u0131k\u0131\u015f\u0131 a\u00e7\u0131klam\u0131\u015ft\u0131. 9A25 d\u00f6neminde ise i\u015fletme faaliyetlerinden 12.435 milyon TL nakit \u00e7\u0131k\u0131\u015f\u0131 ile kar\u015f\u0131la\u015fmaktay\u0131z.<br \/>\u25a0 3\u00c725\u2019te yat\u0131r\u0131m faaliyetlerinden 590 milyon TL nakit \u00e7\u0131k\u0131\u015f\u0131 ger\u00e7ekle\u015fti (2\u00c725: 189 milyon TL ve 3\u00c724: 1.611 milyon TL nakit \u00e7\u0131k\u0131\u015f\u0131).<br \/>\u25a0 3\u00c725\u2019te finansman faaliyetlerinden 2.605 milyon TL nakit giri\u015fi sa\u011flad\u0131. Bir \u00f6nceki \u00e7eyrekte 928 milyon TL ve bir \u00f6nceki y\u0131l ayn\u0131 \u00e7eyrekte 4.288 milyon TL nakit \u00e7\u0131k\u0131\u015f\u0131 a\u00e7\u0131klam\u0131\u015ft\u0131. 9A25 d\u00f6neminde finansman faaliyetlerinden 3.862 milyon TL nakit giri\u015fi ile kar\u015f\u0131la\u015fmaktay\u0131z.<br \/>\u25a0 Genel de\u011ferlendirme: \u015eirket, 3\u00c725 finansallar\u0131n\u0131n ard\u0131ndan bug\u00fcn telekonferans ger\u00e7ekle\u015ftirecektir. Modelimizde 2025 y\u0131l\u0131 i\u00e7in 132.000 adet sat\u0131\u015f adedi ve beklentimiz bulunmaktayd\u0131. H\u0131zl\u0131ca bakt\u0131\u011f\u0131m\u0131zda beklentilerde yap\u0131lan de\u011fi\u015fikliklere ek olarak artan net bor\u00e7 pozisyonu ve makro tahminlerimizdeki g\u00fcncelleme paralelinde \u00f6nemli bir revizyon ihtiyac\u0131na i\u015faret etmedi\u011fini s\u00f6yleyebiliriz. Toplant\u0131n\u0131n ard\u0131ndan \u015eirket\u2019e ait modelimizi g\u00f6zden ge\u00e7irece\u011fimizi ve olas\u0131 fiyat ve\/veya \u00f6neri pozisyonlar\u0131m\u0131zda de\u011fi\u015fiklik hakk\u0131m\u0131z\u0131 sakl\u0131 tuttu\u011fumuzu \u00f6nemle belirtmek isteriz. Mevcut durumda, Do\u011fu\u015f Otomotiv i\u00e7in 12-ayl\u0131k hedef fiyat\u0131m\u0131z 297,50 TL seviyesinde bulunurken, \u00f6nerimizi TUT olarak koruyoruz. Hisse, y\u0131l ba\u015f\u0131ndan itibaren BIST 100 endeksinin %5 gerisinde performans g\u00f6stermi\u015ftir. Geriye d\u00f6n\u00fck 12 ayl\u0131k verilere g\u00f6re hisse 5,9x F\/K ve 4,1x FD\/FAV\u00d6K \u00e7arpanlar\u0131ndan i\u015flem g\u00f6rmektedir.\u201d<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" loading=\"lazy\" width=\"935\" height=\"478\" src=\"https:\/\/rotaborsa.com\/wp-content\/uploads\/2025\/11\/95D988B1-9F98-4C74-9EF9-E852C9D2BF9D.png\" alt=\"| Rota Borsa\" class=\"wp-image-380169\" title=\"| Rota Borsa\" \/><\/figure>\n<p>\u27a2 Raporun tamam\u0131n\u0131 PDF olarak g\u00f6r\u00fcnt\u00fclemek i\u00e7in a\u015fa\u011f\u0131daki dosyay\u0131 indirebilirsiniz.<\/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<div data-wp-interactive=\"core\/file\" class=\"wp-block-file\"><object><\/object><a id=\"wp-block-file--media-1fff2792-81a3-453c-9f61-5603c75c1eed\" href=\"https:\/\/rotaborsa.com\/wp-content\/uploads\/2025\/11\/Deniz_Yat_r_m_Strateji_ve_Ara_t_rma_DOAS_3_25_Bilan_o_De_erlendirme_11984.pdf\">Deniz_Yat_r_m_Strateji_ve_Ara_t_rma_DOAS_3_25_Bilan_o_De_erlendirme_11984<\/a><a href=\"https:\/\/rotaborsa.com\/wp-content\/uploads\/2025\/11\/Deniz_Yat_r_m_Strateji_ve_Ara_t_rma_DOAS_3_25_Bilan_o_De_erlendirme_11984.pdf\" class=\"wp-block-file__button wp-element-button\" download aria-describedby=\"wp-block-file--media-1fff2792-81a3-453c-9f61-5603c75c1eed\">\u0130ndir<\/a><\/div>\n<p><em><strong>Kaynak: <\/strong>Deniz Yat\u0131r\u0131m Ara\u015ft\u0131rma<\/em><\/p>\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=\"95C50pWoQ8\"><p><a href=\"https:\/\/rotaborsa.com\/astor-enerji-astor-hisselerinde-yuzde-2836-bedelsiz-sermaye-artirimi-potansiyeli\/\">Astor Enerji (ASTOR) hisselerinde y\u00fczde 2836 bedelsiz sermaye art\u0131r\u0131m\u0131 potansiyeli<\/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><\/p>\n<p>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><em><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><\/em><\/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>Do\u011fu\u015f Otomotiv Servis ve Ticaret A.\u015e. (DOAS) 2025 y\u0131l\u0131 3. \u00e7eyrek finansal sonu\u00e7lar\u0131 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; Do\u011fu\u015f Otomotiv Servis ve Ticaret A.\u015e.\u00a0hisse haberleri \u2013 DOAS hisse yorumu Deniz Yat\u0131r\u0131m de\u011ferlendirmesi \u015fu \u015fekilde; \u201cDo\u011fu\u015f Otomotiv, 3\u00c725 d\u00f6neminde 58.297 milyon [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":63241,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-63240","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\/63240","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=63240"}],"version-history":[{"count":0,"href":"https:\/\/amazing-banzai.188-132-230-163.plesk.page\/index.php\/wp-json\/wp\/v2\/posts\/63240\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/amazing-banzai.188-132-230-163.plesk.page\/index.php\/wp-json\/wp\/v2\/media\/63241"}],"wp:attachment":[{"href":"https:\/\/amazing-banzai.188-132-230-163.plesk.page\/index.php\/wp-json\/wp\/v2\/media?parent=63240"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amazing-banzai.188-132-230-163.plesk.page\/index.php\/wp-json\/wp\/v2\/categories?post=63240"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amazing-banzai.188-132-230-163.plesk.page\/index.php\/wp-json\/wp\/v2\/tags?post=63240"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}