{"id":64350,"date":"2026-04-07T11:55:46","date_gmt":"2026-04-07T11:55:46","guid":{"rendered":"https:\/\/amazing-banzai.188-132-230-163.plesk.page\/index.php\/2026\/04\/07\/dogan-holding-dohol-2025-4-ceyrek-bilanco-degerlendirmesi\/"},"modified":"2026-04-07T11:55:46","modified_gmt":"2026-04-07T11:55:46","slug":"dogan-holding-dohol-2025-4-ceyrek-bilanco-degerlendirmesi","status":"publish","type":"post","link":"https:\/\/amazing-banzai.188-132-230-163.plesk.page\/index.php\/2026\/04\/07\/dogan-holding-dohol-2025-4-ceyrek-bilanco-degerlendirmesi\/","title":{"rendered":"Do\u011fan Holding (DOHOL) 2025 4. \u00e7eyrek bilan\u00e7o de\u011ferlendirmesi"},"content":{"rendered":"<p>Do\u011fan \u015eirketler Grubu Holding A.\u015e. (DOHOL) 2025 y\u0131l\u0131 4. \u00e7eyrek finansal sonu\u00e7lar\u0131 3 Mart g\u00fcn\u00fc kamuya a\u00e7\u0131kland\u0131. <a href=\"https:\/\/rotaborsa.com\/haberler\/bilanco-haberleri\/\">Bilan\u00e7o<\/a> sonras\u0131nda \u015eirketin finansal tablolar\u0131 i\u00e7in de\u011ferlendirme, Deniz Yat\u0131r\u0131m Menkul K\u0131ymetler A.\u015e.\u2019den geldi.<\/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\/2023\/09\/dohol.webp\" alt=\"| Rota Borsa\" class=\"wp-image-58009\" 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\u011fan \u015eirketler Grubu Holding A.\u015e. hisse haberleri \u2013 DOHOL hisse yorumu<\/h2>\n<p>Deniz Yat\u0131r\u0131m de\u011ferlendirmesi \u015fu \u015fekilde; \u201c<em><strong>De\u011ferlendirme: <\/strong>Olumlu;<\/em> Do\u011fan Holding, 4\u00c725 d\u00f6neminde 2.193 milyon TL net kar a\u00e7\u0131klad\u0131. 4\u00c725 d\u00f6nemi finansallar\u0131nda, parasal kazan\u00e7\/kay\u0131p kalemi alt\u0131nda 485 milyon TL\u2019lik olumsuz etki olu\u015ftu.<br \/>\u25a0 Bilan\u00e7oda olumlu okudu\u011fumuz detaylar<br \/>\u2713 Operasyonel kardaki art\u0131\u015f.<br \/>\u25a0 Bilan\u00e7oda olumsuz okudu\u011fumuz detaylar<br \/>\u2713 Do\u011fan Trend Otomotiv\u2019in finansallarda olu\u015fturdu\u011fu bask\u0131ya ek olarak y\u0131ll\u0131k bazda azalan nakit pozisyonu.<br \/>\u25a0 Bilan\u00e7oya dair k\u0131sa de\u011ferlendirmemiz<br \/>\u2192 Do\u011fan Trend Otomotiv\u2019e ra\u011fmen artan operasyonel k\u00e2rl\u0131l\u0131\u011f\u0131 olumlu bulmakla birlikte, G\u00fcm\u00fc\u015fta\u015f Madencilik ve Hepiyi Sigorta\u2019n\u0131n artan a\u011f\u0131rl\u0131\u011f\u0131n\u0131 ve 2026 beklentilerini kritik g\u00f6r\u00fcyoruz. Normal ko\u015fullar alt\u0131nda, a\u00e7\u0131klanan finansallar\u0131n hisse performans\u0131na olumlu yans\u0131mas\u0131n\u0131 bekleriz. Ancak, mevcut risk i\u015ftah\u0131ndaki genele yay\u0131l\u0131r zay\u0131fl\u0131k, finansallar\u0131n g\u00f6lgelenmesine neden olabilir.<br \/>\u25a0 Holding\u2019in sat\u0131\u015f geliri 4\u00c725 d\u00f6neminde %5 art\u0131\u015fla 23.742 milyon TL d\u00fczeyinde ger\u00e7ekle\u015fmi\u015ftir. 2025\u2019te ise konsolide geliri  azal\u0131\u015fla 93.680 milyon TL oldu. Madencilik ve finans i\u015f kollar\u0131 b\u00fcy\u00fcmenin ana dinamiklerini olu\u015ftururken, Do\u011fan Trend Otomotiv sat\u0131\u015f geliri \u00fczerinde bask\u0131 olu\u015fturmaya devam etti. Do\u011fan Trend Otomotiv hari\u00e7 tutuldu\u011funda ise Do\u011fan Holding\u2019in konsolide geliri ge\u00e7en y\u0131l\u0131n  \u00fczerinde ger\u00e7ekle\u015fti.<br \/>\u25a0 FAV\u00d6K 4\u00c725 d\u00f6neminde 2 art\u0131\u015fla 3.357 milyon TL seviyesine ula\u015f\u0131rken, FAV\u00d6K marj\u0131nda 8.7 puanl\u0131k iyile\u015fme ger\u00e7ekle\u015fti. 2025\u2019te ise Do\u011fan Trend Otomotiv\u2019e ra\u011fmen y g\u00f6steren FAV\u00d6K 10.618 milyon TL seviyesinde ge\u00e7ekle\u015fti. FAV\u00d6K marj\u0131 5.7 puan art\u0131\u015fla ,3 oldu.<br \/>\u25a0 Do\u011fan Holding, 4\u00c725 d\u00f6neminde V art\u0131\u015fla 2.193 milyon TL net kar a\u00e7\u0131klam\u0131\u015ft\u0131r. B\u00f6ylelikle net kar, ge\u00e7ti\u011fimiz d\u00f6nem zararlar\u0131n\u0131 kapatarak 1.792 milyon TL olarak y\u0131l\u0131 tamamlad\u0131.<br \/>\u25a0 2024\u2019te 2,6 milyar USD olan NAD, 231 milyon USD art\u0131\u015fla yakla\u015f\u0131k 2,8 milyar USD seviyesinde ger\u00e7ekle\u015fmi\u015ftir. \u015eirket, bu art\u0131\u015f\u0131n nedenlerini; Hepiyi Sigorta ve G\u00fcm\u00fc\u015fta\u015f Madencilik\u2019teki ba\u015far\u0131l\u0131 performans\u0131n de\u011ferlemeye katk\u0131s\u0131 olarak a\u00e7\u0131klam\u0131\u015ft\u0131r.<br \/>\u25a0 3\u00c725 d\u00f6neminde 617 milyon USD olan solo net nakit pozisyonu 4\u00c725 d\u00f6neminde 639 milyon USD seviyesindedir. 2024 y\u0131l\u0131na g\u00f6re azalan nakit pozisyonunda, temett\u00fc \u00f6demeleri ve baz\u0131 i\u015ftiraklerde ger\u00e7ekle\u015ftirilen sermaye art\u0131\u015flar\u0131 kaynakl\u0131 nakit \u00e7\u0131k\u0131\u015flar\u0131n\u0131n etkili oldu\u011fu a\u00e7\u0131klan\u0131rken, ba\u015far\u0131l\u0131 fon y\u00f6netimi aksiyonlar\u0131n\u0131n \u00e7\u0131k\u0131\u015flar\u0131 dengeleyici rol oynad\u0131\u011f\u0131 belirtilmi\u015ftir.<br \/>\u25a0 <strong><em>Holding, 2026 y\u0131l\u0131na y\u00f6nelik beklentilerini a\u00e7\u0131klad\u0131. <\/em><\/strong><em>2026 beklentileri;<\/em> i) Galata Wind Enerji taraf\u0131nda 950\u20131000 GWh elektrik \u00fcretimi ve e-70 aral\u0131\u011f\u0131nda FAV\u00d6K marj\u0131 ii) G\u00fcm\u00fc\u015fta\u015f Madencilik taraf\u0131nda @\u2019\u0131n \u00fczerinde gelir b\u00fcy\u00fcmesi, @-50 aras\u0131nda FAV\u00d6K marj\u0131 ve 70 milyon USD\u2019nin \u00fczerinde yat\u0131r\u0131m harcamas\u0131 iii) Hepiyi Sigorta taraf\u0131nda 100-130 milyon USD y\u00f6netilen varl\u0131k b\u00fcy\u00fckl\u00fc\u011f\u00fc art\u0131\u015f\u0131 y\u00f6n\u00fcnde iken Holding\u2019in 2030 y\u0131l\u0131nda daha \u00f6nce 4 milyar USD olan net aktif de\u011fer hedefinin 4,5 milyar USD olarak \u015fekilleniyor. T\u00fcm bu beklentilere ek olarak Karel i\u00e7in 2026 y\u0131l\u0131n\u0131n, tahsisli sermaye art\u0131\u015f\u0131 s\u00fcrecinin de sonlanmas\u0131 ile beraber k\u00e2rl\u0131l\u0131k ve bilan\u00e7o g\u00fcc\u00fc a\u00e7\u0131s\u0131ndan belirgin bir d\u00f6n\u00fcm noktas\u0131 olmas\u0131 y\u00f6n\u00fcnde.<br \/>\u25a0 <strong><em>Genel de\u011ferlendirme:<\/em><\/strong> Mevcut durumda Do\u011fan Holding i\u00e7in \u00f6nerimiz AL y\u00f6n\u00fcnde. Hisse, y\u0131l ba\u015f\u0131ndan bu yana BIST 100 Endeksi\u2019ne paralel performans g\u00f6stermi\u015ftir. Geriye d\u00f6n\u00fck 12 ayl\u0131k verilere g\u00f6re hisse 0,6x PD\/DD \u00e7arpan\u0131yla i\u015flem g\u00f6rmektedir.\u201d<br \/>\u27a2 Raporun tamam\u0131n\u0131 PDF olarak g\u00f6r\u00fcnt\u00fclemek i\u00e7in a\u015fa\u011f\u0131daki dosyay\u0131 indirebilirsiniz.<\/p>\n<div data-wp-interactive=\"core\/file\" class=\"wp-block-file\"><object><\/object><a id=\"wp-block-file--media-0733d009-9705-450e-98ed-963b90eff29f\" href=\"https:\/\/rotaborsa.com\/wp-content\/uploads\/2026\/03\/172735-1.pdf\">172735-1<\/a><a href=\"https:\/\/rotaborsa.com\/wp-content\/uploads\/2026\/03\/172735-1.pdf\" class=\"wp-block-file__button wp-element-button\" download aria-describedby=\"wp-block-file--media-0733d009-9705-450e-98ed-963b90eff29f\">\u0130ndir<\/a><\/div>\n<p><em><strong>Kaynak: <\/strong>Deniz Yat\u0131r\u0131m Ara\u015ft\u0131rma<\/em><\/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 class=\"wp-block-group\">\n<div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group\">\n<div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group\">\n<div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group\">\n<div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group\">\n<div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group\">\n<div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group\">\n<div class=\"wp-block-group__inner-container is-layout-constrained 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wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group\">\n<div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group\" style=\"font-size:10px\">\n<div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group\">\n<div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n<ul class=\"wp-block-social-links aligncenter has-huge-icon-size has-visible-labels has-icon-color is-style-default is-horizontal is-content-justification-center is-layout-flex wp-container-core-social-links-is-layout-499968f5 wp-block-social-links-is-layout-flex\">\n<li style=\"color:#ffffff\" class=\"wp-social-link wp-social-link-whatsapp has-white-color wp-block-social-link\"><a rel=\"noopener nofollow\" target=\"_blank\" href=\"https:\/\/whatsapp.com\/channel\/0029Vb6J7JQ6GcG8uLrIR81x\" class=\"wp-block-social-link-anchor\"><span class=\"wp-block-social-link-label\">Rota Borsa WhatsApp kanal\u0131na kat\u0131l\u0131n!<\/span><\/a><\/li>\n<li style=\"color:#ffffff\" class=\"wp-social-link wp-social-link-telegram has-white-color wp-block-social-link\"><a rel=\"noopener nofollow\" target=\"_blank\" href=\"https:\/\/t.me\/rotaborsa_halkaarz\" class=\"wp-block-social-link-anchor\"><span class=\"wp-block-social-link-label\">Rota Borsa Telegram kanal\u0131na kat\u0131l\u0131n!<\/span><\/a><\/li>\n<li style=\"color:#ffffff\" class=\"wp-social-link wp-social-link-x has-white-color wp-block-social-link\"><a rel=\"noopener nofollow\" target=\"_blank\" href=\"https:\/\/x.com\/rotaborsa\" class=\"wp-block-social-link-anchor\"><span class=\"wp-block-social-link-label\">Rota Borsa Twitter hesab\u0131n\u0131 takip edin!<\/span><\/a><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><em><em><em><em><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><\/em><\/em><\/em><br \/><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\u011fan \u015eirketler Grubu Holding A.\u015e. (DOHOL) 2025 y\u0131l\u0131 4. \u00e7eyrek finansal sonu\u00e7lar\u0131 3 Mart g\u00fcn\u00fc kamuya a\u00e7\u0131kland\u0131. Bilan\u00e7o sonras\u0131nda \u015eirketin finansal tablolar\u0131 i\u00e7in de\u011ferlendirme, Deniz Yat\u0131r\u0131m Menkul K\u0131ymetler A.\u015e.\u2019den geldi. Do\u011fan \u015eirketler Grubu Holding A.\u015e. hisse haberleri \u2013 DOHOL hisse yorumu Deniz Yat\u0131r\u0131m de\u011ferlendirmesi \u015fu \u015fekilde; \u201cDe\u011ferlendirme: Olumlu; Do\u011fan Holding, 4\u00c725 d\u00f6neminde 2.193 milyon TL [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":64351,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-64350","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\/64350","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=64350"}],"version-history":[{"count":0,"href":"https:\/\/amazing-banzai.188-132-230-163.plesk.page\/index.php\/wp-json\/wp\/v2\/posts\/64350\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/amazing-banzai.188-132-230-163.plesk.page\/index.php\/wp-json\/wp\/v2\/media\/64351"}],"wp:attachment":[{"href":"https:\/\/amazing-banzai.188-132-230-163.plesk.page\/index.php\/wp-json\/wp\/v2\/media?parent=64350"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amazing-banzai.188-132-230-163.plesk.page\/index.php\/wp-json\/wp\/v2\/categories?post=64350"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amazing-banzai.188-132-230-163.plesk.page\/index.php\/wp-json\/wp\/v2\/tags?post=64350"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}