{"id":52,"date":"2026-06-12T18:52:14","date_gmt":"2026-06-12T15:52:14","guid":{"rendered":"https:\/\/tabildot.com.tr\/tv\/?p=52"},"modified":"2026-06-12T19:32:09","modified_gmt":"2026-06-12T16:32:09","slug":"%f0%9f%94%b4-vestl-2026-03-bilanco-analizi-vestel-elektronik-sanayi-ve-ticaret-a-s-satislari-yarilanan-v","status":"publish","type":"post","link":"https:\/\/tabildot.com.tr\/tv\/arsivler\/52","title":{"rendered":"\ud83d\udd34 VESTL 2026-03 Bilan\u00e7o Analizi | Vestel Elektronik Sanayi ve Ticaret A.\u015e. (Sat\u0131\u015flar\u0131 yar\u0131lanan V&#8230;"},"content":{"rendered":"<p><iframe loading=\"lazy\" title=\"\ud83d\udd34 VESTL 2026-03 Bilan\u00e7o Analizi | Vestel Elektronik Sanayi ve Ticaret A.\u015e. (Sat\u0131\u015flar\u0131 yar\u0131lanan V...\" width=\"858\" height=\"644\" src=\"https:\/\/www.youtube.com\/embed\/XOCuaUkI31o?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<p>10 Haziran 2026 tarihi itibar\u0131yla payla\u015f\u0131lan 24,46 TL hisse fiyat\u0131 ve Vestel Elektronik&#8217;in 31 Mart 2026 tarihli 1. \u00c7eyrek konsolide finansal raporu baz al\u0131narak yap\u0131lan analiz ve hesaplamalar a\u015fa\u011f\u0131dad\u0131r:Hisse ve Piyasa Verileri \u2022 Piyasa De\u011feri: 10 Haziran 2026 fiyat\u0131yla 8.205.253.760 TL (Yakla\u015f\u0131k 8,2 Milyar TL) olarak hesaplanm\u0131\u015ft\u0131r. (Hisse Fiyat\u0131: 24,46 TL \u00d7 Toplam Pay Say\u0131s\u0131: 335.456.000). \u2022 Defter De\u011feri (Hisse Ba\u015f\u0131): 78,63 TL. (Ana Ortakl\u0131\u011fa Ait \u00d6zkaynaklar: 26.375.357.000 TL \/ 335.456.000 adet pay). \u2022 PD\/DD (Piyasa De\u011feri \/ Defter De\u011feri): 0,31. \u015eirket hisseleri, defter de\u011ferinin yakla\u015f\u0131k %70 alt\u0131nda (0,31 kat\u0131) i\u015flem g\u00f6rmektedir. Bu durum piyasan\u0131n \u015firketin varl\u0131klar\u0131n\u0131 olduk\u00e7a muhafazakar fiyatlad\u0131\u011f\u0131n\u0131 g\u00f6stermektedir. \u2022 F\/K (Fiyat \/ Kazan\u00e7): \u015eirket net zarar a\u00e7\u0131klad\u0131\u011f\u0131 i\u00e7in bu oran negatif olup hesaplanamamaktad\u0131r. \u2022 Firma De\u011feri: 101.156.624 bin TL (~101,2 Milyar TL). (Piyasa De\u011feri + Net Bor\u00e7). \u2022 Net D\u00f6nem Kar\u0131\/Zarar\u0131 (Ana Ortakl\u0131k): 2026 y\u0131l\u0131n\u0131n ilk \u00e7eyre\u011finde 2.833.582 bin TL net zarar a\u00e7\u0131klanm\u0131\u015ft\u0131r. \u2022 Y\u0131ll\u0131k Net Kar\/Zarar De\u011fi\u015fimi: Ge\u00e7en y\u0131l\u0131n ayn\u0131 d\u00f6nemindeki 6.644.012 bin TL&#8217;lik zarara g\u00f6re zararda %57,35 oran\u0131nda bir iyile\u015fme (azal\u0131\u015f) s\u00f6z konusudur. \u2022 Sat\u0131\u015flardaki De\u011fi\u015fim: Has\u0131lat, bir \u00f6nceki y\u0131l\u0131n ayn\u0131 d\u00f6nemine g\u00f6re %48,93 azalarak 21.025.333 bin TL&#8217;ye gerilemi\u015ftir. \u2022 Br\u00fct Kardaki De\u011fi\u015fim: Br\u00fct kar, sat\u0131\u015flardaki d\u00fc\u015f\u00fc\u015fe paralel olarak %65,44 azal\u0131\u015fla 2.737.259 bin TL olmu\u015ftur. \u2022 Esas Faaliyet Kar\u0131ndaki De\u011fi\u015fim: Esas faaliyet zarar\u0131, ge\u00e7en y\u0131la g\u00f6re %2,62 artarak 5.220.304 bin TL olarak ger\u00e7ekle\u015fmi\u015ftir. Net zarardaki iyile\u015fmenin temel nedeni operasyonel performans de\u011fil, 6,86 milyar TL tutar\u0131ndaki net parasal pozisyon kazanc\u0131d\u0131r. \u2022 \u015eirketin Net Borcu: 92.951.370 bin TL. \u015eirket nette bor\u00e7lu bir pozisyondad\u0131r. (Toplam Finansal Bor\u00e7: 94.944.132 bin TL \u2013 Nakit ve Benzerleri: 1.992.762 bin TL). \u2022 Varl\u0131k Finansman Kaynaklar\u0131: \u015eirketin toplam varl\u0131klar\u0131n\u0131n sadece %17,66&#8217;s\u0131 ana sermaye (toplam \u00f6zkaynaklar) ile finanse edilirken, %82,34&#8217;\u00fc bor\u00e7lar (toplam y\u00fck\u00fcml\u00fcl\u00fckler) ile finanse edilmektedir. Bu, \u015firketin olduk\u00e7a y\u00fcksek kald\u0131ra\u00e7l\u0131 bir yap\u0131ya sahip oldu\u011funu g\u00f6sterir. \u2022 \u00d6zkaynaklardaki De\u011fi\u015fim: 31 Aral\u0131k 2025&#8217;e g\u00f6re toplam \u00f6zkaynaklar %9,04, ana ortakl\u0131\u011fa ait \u00f6zkaynaklar ise %10,82 azalm\u0131\u015ft\u0131r. \u2022 Finansal Bor\u00e7lardaki De\u011fi\u015fim: Toplam finansal bor\u00e7larda y\u0131l sonuna g\u00f6re %2,81&#8217;lik s\u0131n\u0131rl\u0131 bir azal\u0131\u015f sa\u011flanm\u0131\u015ft\u0131r. \u2022 Cari Oran: 0,37. (D\u00f6nen Varl\u0131klar: 39,4 Milyar TL \/ K\u0131sa Vadeli Y\u00fck\u00fcml\u00fcl\u00fckler: 107,3 Milyar TL). Cari oran\u0131n 1&#8217;in, ideal olarak 1,5-2 band\u0131n\u0131n alt\u0131nda olmas\u0131, \u015firketin k\u0131sa vadeli bor\u00e7lar\u0131n\u0131 \u00f6demede ciddi likidite riski ta\u015f\u0131d\u0131\u011f\u0131na i\u015faret etmektedir. \u2022 \u00d6zkaynak Karl\u0131l\u0131\u011f\u0131 (ROE): \u015eirket zarar etti\u011fi i\u00e7in bu oran negatiftir (\u00e7eyreklik bazda yakla\u015f\u0131k -%10,7). \u2022 Net Bor\u00e7 \/ \u00d6zkaynak Oran\u0131: Net borcun toplam \u00f6zkaynaklara oran\u0131 2,64&#8217;t\u00fcr. Bu, finansal riskin y\u00fcksek oldu\u011funu ve bor\u00e7lar\u0131n \u00f6zkaynaklar\u0131n 2,6 kat\u0131ndan fazla oldu\u011funu g\u00f6stermektedir. Kar\/Zarar ve Operasyonel Performans (% De\u011fi\u015fimler Q1 2026 vs Q1 2025)Bor\u00e7luluk ve Finansal Yap\u0131 AnaliziDi\u011fer \u00d6nem Arz Eden Oranlar ve Tart\u0131\u015fmaGenel De\u011ferlendirme: Vestel Elektronik&#8217;in sat\u0131\u015flar\u0131 ve br\u00fct karl\u0131l\u0131\u011f\u0131 2026&#8217;n\u0131n ilk \u00e7eyre\u011finde sert bir d\u00fc\u015f\u00fc\u015f ya\u015fam\u0131\u015ft\u0131r. Net zarardaki g\u00f6receli iyile\u015fme b\u00fcy\u00fck oranda enflasyon muhasebesi kaynakl\u0131 &#8220;parasal kazan\u00e7lardan&#8221; gelmektedir. \u015eirketin y\u00fcksek bor\u00e7luluk seviyesi ve d\u00fc\u015f\u00fck likidite oranlar\u0131 (cari oran) finansal yap\u0131 \u00fczerindeki bask\u0131n\u0131n s\u00fcrd\u00fc\u011f\u00fcn\u00fc g\u00f6stermektedir. Hisse fiyat\u0131n\u0131n defter de\u011ferinin \u00e7ok alt\u0131nda (PD\/DD: 0,31) olmas\u0131, piyasan\u0131n bu riskleri ve operasyonel daralmay\u0131 fiyatlad\u0131\u011f\u0131n\u0131 kan\u0131tlamaktad\u0131r.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>10 Haziran 2026 tarihi itibar\u0131yla payla\u015f\u0131lan 24,46 TL hisse fiyat\u0131 ve Vestel Elektronik&#8217;in 31 Mart 2026 tarihli 1. \u00c7eyrek konsolide finansal raporu baz al\u0131narak yap\u0131lan analiz ve hesaplamalar a\u015fa\u011f\u0131dad\u0131r:Hisse ve Piyasa Verileri \u2022 Piyasa De\u011feri: 10 Haziran 2026 fiyat\u0131yla 8.205.253.760&#8230; <\/p>\n","protected":false},"author":2,"featured_media":53,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[],"class_list":["post-52","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-risk"],"_links":{"self":[{"href":"https:\/\/tabildot.com.tr\/tv\/wp-json\/wp\/v2\/posts\/52","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tabildot.com.tr\/tv\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tabildot.com.tr\/tv\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tabildot.com.tr\/tv\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/tabildot.com.tr\/tv\/wp-json\/wp\/v2\/comments?post=52"}],"version-history":[{"count":1,"href":"https:\/\/tabildot.com.tr\/tv\/wp-json\/wp\/v2\/posts\/52\/revisions"}],"predecessor-version":[{"id":54,"href":"https:\/\/tabildot.com.tr\/tv\/wp-json\/wp\/v2\/posts\/52\/revisions\/54"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tabildot.com.tr\/tv\/wp-json\/wp\/v2\/media\/53"}],"wp:attachment":[{"href":"https:\/\/tabildot.com.tr\/tv\/wp-json\/wp\/v2\/media?parent=52"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tabildot.com.tr\/tv\/wp-json\/wp\/v2\/categories?post=52"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tabildot.com.tr\/tv\/wp-json\/wp\/v2\/tags?post=52"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}