{"id":64414,"date":"2026-04-03T12:26:59","date_gmt":"2026-04-03T12:26:59","guid":{"rendered":"https:\/\/amazing-banzai.188-132-230-163.plesk.page\/index.php\/2026\/04\/03\/vestel-elektronik-vestl-2025-4-ceyrek-bilanco-yorumu\/"},"modified":"2026-04-03T12:26:59","modified_gmt":"2026-04-03T12:26:59","slug":"vestel-elektronik-vestl-2025-4-ceyrek-bilanco-yorumu","status":"publish","type":"post","link":"https:\/\/amazing-banzai.188-132-230-163.plesk.page\/index.php\/2026\/04\/03\/vestel-elektronik-vestl-2025-4-ceyrek-bilanco-yorumu\/","title":{"rendered":"Vestel Elektronik (VESTL) 2025 4. \u00e7eyrek bilan\u00e7o yorumu"},"content":{"rendered":"<p>Vestel Elektronik Sanayi ve Ticaret A.\u015e. (VESTL) 2025 y\u0131l\u0131 4. \u00e7eyrek finansal sonu\u00e7lar\u0131 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\/vestel.webp\" alt=\"| Rota Borsa\" class=\"wp-image-58441\" 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\">Vestel Elektronik Sanayi ve Ticaret A.\u015e. hisse haberleri \u2013 VESTL hisse yorumu<\/h2>\n<p>Deniz Yat\u0131r\u0131m de\u011ferlendirmesi \u015fu \u015fekilde; \u201c<em><strong>De\u011ferlendirme:<\/strong> Olumsuz;<\/em> Vestel Elektronik 4\u00c725\u2019te 25.949 milyon TL gelir (Konsensus: 28.366 milyon TL), -1.901 milyon TL FAV\u00d6K (Konsensus: 771 milyon TL) ve 10.586 milyon TL net zarar (Konsensus: 8.500 milyon TL net zarar) a\u00e7\u0131klad\u0131. Enflasyon muhasebesi nedeniyle 4\u00c725 finansallar\u0131nda, parasal kazan\u00e7\/kay\u0131p kalemi alt\u0131nda 933 milyon TL\u2019lik olumlu etki olu\u015ftu.<br \/>\u25a0 Bilan\u00e7oda olumlu okudu\u011fumuz detaylar<br \/>\u2713 Operasyonel giderlerde \u00e7eyreksel ve y\u0131ll\u0131k bazda azal\u0131\u015fa ek olarak net i\u015fletme sermayesi taraf\u0131nda devam eden iyile\u015fme.<br \/>\u25a0 Bilan\u00e7oda olumsuz okudu\u011fumuz detaylar<br \/>\u2713 Sat\u0131\u015f gelirinde y\u0131ll\u0131k olarak reel bazda daralma, zay\u0131f karl\u0131l\u0131k ve y\u00fcksek net finansman gideri ve net zarar\u0131n devam etmesine ek olarak net bor\u00e7ta art\u0131\u015f ve \u00f6zkaynaklardaki azal\u0131\u015f\u0131n s\u00fcrmesi.<br \/>\u25a0 Bilan\u00e7oya dair k\u0131sa de\u011ferlendirmemiz<br \/>\u2192 Zay\u0131f finansallar\u0131n devam etti\u011fi 4\u00c725 sonu\u00e7lar\u0131n\u0131 hisse performans\u0131 \u00fczerinde olumsuz bir etki yarataca\u011f\u0131 d\u00fc\u015f\u00fcncesindeyiz.<br \/>\u25a0 4\u00c725 d\u00f6neminde sat\u0131\u015f geliri G azalarak 25.949 milyon TL seviyesine geriledi. Yurt i\u00e7i sat\u0131\u015f gelirleri ge\u00e7en y\u0131l\u0131n ayn\u0131 d\u00f6nemine g\u00f6re &amp;, yurt d\u0131\u015f\u0131 sat\u0131\u015f gelirleri de R oran\u0131nda azal\u0131\u015f g\u00f6sterdi.<br \/>\u25a0 4\u00c725 d\u00f6neminde toplam sat\u0131\u015flar\u0131n 7\u2019si (4\u00c724: T) Avrupa \u00fclkelerine, G\u2019si (4\u00c724: 6) yurt i\u00e7ine, \u2019s\u0131 (4\u00c724: ) ise di\u011fer \u00fclkelere yap\u0131lm\u0131\u015ft\u0131r.<br \/>\u25a0 4\u00c725\u2019te FAV\u00d6K -1.901 milyon TL (4\u00c724: -1.419 milyon TL) seviyesinde ger\u00e7ekle\u015firken, FAV\u00d6K marj\u0131 \u00e7eyreksel bazda 9,6 puan, y\u0131ll\u0131k bazda da 4,4 puan d\u00fc\u015ft\u00fc ve %-7,3 oldu.<br \/>\u25a0 \u015eirket, 4\u00c725\u2019te 10.586 milyon TL net zarar (3\u00c725: 4.913 milyon TL net zarar, 4\u00c724: 8.429 milyon TL net zarar) a\u00e7\u0131klad\u0131.<br \/>\u25a0 \u015eirket, 4\u00c725\u2019te 5.006 milyon TL seviyesinde esas faaliyetlerden net di\u011fer gider (4\u00c724: 2.320 milyon TL net gider), 3.721 milyon TL seviyesinde net finansman gideri (4\u00c724: 3.222 milyon TL net gider) ve 242 milyon TL vergi geliri (4\u00c724: 1.754 milyon TL gelir) kaydetti.<br \/>\u25a0 Vestel Elektronik, \u00f6zkaynak y\u00f6ntemiyle de\u011ferlenen yat\u0131r\u0131mlardan da 649 milyon TL zarar (3\u00c725: 491 milyon TL zarar, 4\u00c724: 2.385 milyon TL zarar) yazm\u0131\u015ft\u0131r.<br \/>\u25a0 2025 y\u0131l sonu itibariyle \u015eirket\u2019in 90.386 milyon TL net bor\u00e7 pozisyonu bulunmaktad\u0131r (Eyl\u00fcl 2025 sonu: 86.847 milyon TL net bor\u00e7).<br \/>\u25a0 <strong><em>Genel de\u011ferlendirme:<\/em><\/strong> Finansallar\u0131n ard\u0131ndan artan net bor\u00e7 pozisyonu ve zay\u0131f finansallar\u0131 modelimize yans\u0131tmam\u0131z neticesinde VESTL i\u00e7in 12-ayl\u0131k hedef fiyat\u0131m\u0131z\u0131 d\u00fc\u015f\u00fcr\u00fcyor, TUT tavsiyemizi ise s\u00fcrd\u00fcr\u00fcyoruz. \u00d6n\u00fcm\u00fczdeki d\u00f6nemde, \u015eirket\u2019in operasyonel verimlilik kapsam\u0131nda ataca\u011f\u0131 ad\u0131mlar ve kredilerin yeniden yap\u0131land\u0131r\u0131lma s\u00fcrecini yak\u0131ndan takip edece\u011fiz. Hisse, y\u0131l ba\u015f\u0131ndan itibaren BIST 100 endeksinin  alt\u0131nda performans g\u00f6stermi\u015ftir.\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-f5320359-c414-4f74-9f15-9392f97f8252\" href=\"https:\/\/rotaborsa.com\/wp-content\/uploads\/2026\/03\/1773296084111_DenizYatrmStratejiveAratrmaVESTL425BilanoDeerlendirme13236.pdf\">1773296084111_DenizYatrmStratejiveAratrmaVESTL425BilanoDeerlendirme13236<\/a><a href=\"https:\/\/rotaborsa.com\/wp-content\/uploads\/2026\/03\/1773296084111_DenizYatrmStratejiveAratrmaVESTL425BilanoDeerlendirme13236.pdf\" class=\"wp-block-file__button wp-element-button\" download aria-describedby=\"wp-block-file--media-f5320359-c414-4f74-9f15-9392f97f8252\">\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 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 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\" 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><em><em><em><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><\/em><\/em><\/em><\/em><\/em><\/em><\/em><\/em><\/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<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=\"lRGY9JQYkz\"><p><a href=\"https:\/\/rotaborsa.com\/bir-sirketten-yuzde-638338-oraninda-bedelsiz-sermaye-artirimi-karari-2\/\">Bir \u015firketten y\u00fczde 638,338 oran\u0131nda bedelsiz sermaye art\u0131r\u0131m\u0131 karar\u0131<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Vestel Elektronik Sanayi ve Ticaret A.\u015e. (VESTL) 2025 y\u0131l\u0131 4. \u00e7eyrek finansal sonu\u00e7lar\u0131 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. Vestel Elektronik Sanayi ve Ticaret A.\u015e. hisse haberleri \u2013 VESTL hisse yorumu Deniz Yat\u0131r\u0131m de\u011ferlendirmesi \u015fu \u015fekilde; \u201cDe\u011ferlendirme: Olumsuz; Vestel Elektronik 4\u00c725\u2019te 25.949 milyon TL gelir (Konsensus: [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":64415,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-64414","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\/64414","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=64414"}],"version-history":[{"count":0,"href":"https:\/\/amazing-banzai.188-132-230-163.plesk.page\/index.php\/wp-json\/wp\/v2\/posts\/64414\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/amazing-banzai.188-132-230-163.plesk.page\/index.php\/wp-json\/wp\/v2\/media\/64415"}],"wp:attachment":[{"href":"https:\/\/amazing-banzai.188-132-230-163.plesk.page\/index.php\/wp-json\/wp\/v2\/media?parent=64414"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amazing-banzai.188-132-230-163.plesk.page\/index.php\/wp-json\/wp\/v2\/categories?post=64414"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amazing-banzai.188-132-230-163.plesk.page\/index.php\/wp-json\/wp\/v2\/tags?post=64414"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}