25 Haziran 2015

Deerleme Tablosu
PYASA VERLER & HEDEF
BIST-100
1 Yl in Nom. TL Hedef
Ykseli Potansiyeli (TL)

83,277 Piyasa Deeri (mn)

90,472 Halka Ak Piyasa Deeri (mn)
9%

$223,574
$70,846

Risksiz Getiri Oran

TL
8.00%
USD
6.00%
EUR
4.00%
*Revizyon Tarihi: 30.01.2015

Finans
AKBNK
GARAN
HALKB
ISCTR
VAKBN
YKBNK

Oyak
Tavsiyesi
E
EP
E
EP
E
EP

ALBRK
SKBNK
TSKB

E
EP
EA

Bankaclk sektr
ISMEN
ANHYT

E
EP

Cari / Hedef
(%) Ykseli Piyasa De.
FD Piyasa
Gnlk Ort.
Fiyat (TL)
Potansiyeli
(mn $) De. (mn $) lm. Hac. (mn $)
7.95
9.70
%22
11,938
6,208
79.5
8.56 10.20
%19
13,497
6,478
323.0
12.50 19.10
%53
5,866
2,874
99.0
5.72
6.70
%17
9,663
2,995
79.1
4.37
6.20
%42
4,101
1,025
102.4
4.04
4.90
%21
6,593
1,187
28.9
%25
51,657
20,768
1.49
2.40
%61
503
106
0.5
1.70
2.30
%35
739
177
0.6
1.73
1.97
%14
1,137
443
2.1
%31
2,379
726
%0
54,036
21,494
1.10
1.38
%25
147
41
0.2
5.61
6.10
%9
800
136
0.2

PYASA ARPANLARI (HOLDNGLER HAR)

2014 De.
2015T
De.
2016T
Net Kar
33,420
-2%
36,100
8%
40,830
F/K
11.6
10.8
9.5
FD/VAFK
9.7
8.7
7.9
Gzden geirilen irketler karlatrma amacyla hesaba dahil edilmemitir.

Net Kar (Kons, mn TL)

Piyasa '15 Ort.zserm.
2014
2015T
2016T Kar Tahmini TL Getirisi 2015T
3,379
3,812
4,474
3,582
13.7%
3,653
4,140
4,545
4,034
14.7%
2,270
2,472
2,817
2,428
14.1%
3,352
3,660
4,160
3,722
12.3%
1,806
2,010
2,240
1,762
13.0%
2,056
2,503
3,032
2,262
11.8%
16,516
18,596
21,268
17,790
256
280
337
283
15.4%
214
248
269
248
10.3%
369
405
461
405
16.5%
840
934
1,068
936
17,355
19,530
22,336
18,726
63
72
78
m.d.
12.3%
95
125
162
121
19.2%

Holding
AKFEN
ALARK
DOHOL
ENKAI
KCHOL
SAHOL
TKFEN

Oyak
Tavsiyesi
E
EP
E
E
EP
E
E

Cari / Hedef
(%) Ykseli Piyasa De.
FD Piyasa
Gnlk Ort.
Fiyat (TL)
Potansiyeli
(mn $) De. (mn $) lm. Hac. (mn $)
6.75
5.68
-%16
664
133
0.3
3.70
5.75
%55
310
81
2.3
0.62
1.26
%104
609
213
6.9
5.15
6.00
%17
7,733
928
7.6
12.45 10.76
-%14
11,852
2,607
22.5
10.30 13.23
%28
7,890
3,471
20.5
4.68
6.75
%44
650
267
15.0
%10
29,708
7,700

Net Kar (mn TL)

Piyasa '15
2014
2015T
2016T Kar Tahmini TL
-12
-18
8
65
34
52
69
85
-225
-244
-46
-62
1,441
1,262
1,359
1,617
2,710
3,035
3,164
2,662
2,079
2,346
2,753
2,300
56
281
340
248
6,083
6,714
7,648
6,914

Net Bor 1
(mn TL)
507
-194
1,782
-6,309
-1,646
203
-1
-5,658

GYO
EKGYO
HLGYO

Oyak
Tavsiyesi
E
E

Cari / Hedef
(%) Ykseli Piyasa De.
FD Piyasa
Gnlk Ort.
Fiyat (TL)
Potansiyeli
(mn $) De. (mn $) lm. Hac. (mn $)
2.76
3.37
%22
3,937
2,008
39.0
1.11
1.90
%71
310
71
1.3
%26
3,937
2,008

Net Kar (mn TL)

Piyasa '15
2014
2015T
2016T Kar Tahmini TL
954
697
1,082
1,160
61
82
77
66
1,016
779
1,159
1,226

Net Bor 1
(mn TL)
-866
47
-819

Oyak
Sanayi irketleri Tavsiyesi
ADANA
E
ADBGR
E
ADNAC
EP
ADEL
EP
AKCNS
EP
ANACM
EP
AEFES
E
ARCLK
EA
ASELS
E
AYGAZ
EP
BIMAS
E
BIZIM
E
BRISA
E
CCOLA
E
CIMSA
EP
DOAS
E
EREGL
EA
FROTO
EA
GUBRF
EA
KRDMD
GG
MGROS
E
OTKAR
E
PGSUS
EP
PETKM
EP
SELEC
E
TATGD
TAVHL
EP
TKNSA
EP
TOASO
EA
TRKCM
EP
TUPRS
EP
TCELL
EA
THYAO
E
TTKOM
EP
TTRAK
EP
ULKER
EP

Cari / Hedef
(%) Ykseli Piyasa De.
FD Piyasa
Gnlk Ort.
Fiyat (TL)
Potansiyeli
(mn $) De. (mn $) lm. Hac. (mn $)
6.65
8.40
%26
220
128
0.2
4.47
5.97
%34
139
12
0.0
0.69
0.83
%20
43
21
0.4
67.25 53.50
-%20
199
56
1.8
16.00 17.20
%8
1,150
218
0.4
1.98
1.81
-%9
330
66
1.4
24.00 28.00
%17
5,335
1,707
2.0
14.25 15.00
%5
3,615
904
7.8
14.25 13.10
-%8
2,675
374
4.8
10.15 10.87
%7
1,143
274
1.0
48.35 56.42
%17
5,511
3,306
11.4
13.00 24.20
%86
195
90
2.6
9.13 10.40
%14
1,046
105
2.0
44.10 53.28
%21
4,211
1,053
4.5
15.25 17.30
%13
773
309
1.0
15.80 20.30
%28
1,305
339
5.8
4.43
4.70
%6
5,821
2,794
18.6
35.00 34.20
-%2
4,611
830
4.6
7.07
3.90
-%45
886
195
3.0
1.67
0.00
489
435
23.7
21.40 26.70
%25
1,430
272
3.3
86.00 64.00
-%26
775
209
7.4
25.50 32.65
%28
979
343
16.5
4.00
2.90
-%28
1,502
511
10.4
2.50
3.50
%40
583
87
0.3
6.71
3.45
-%49
343
140
3.3
22.45 21.50
-%4
3,062
1,225
7.8
7.64 10.15
%33
315
35
2.4
17.15 17.00
-%1
3,219
773
8.5
2.87
3.86
%34
796
223
3.2
68.25 66.50
-%3
6,416
3,144
25.1
12.65 10.60
-%16
10,447
3,657
36.1
9.16 10.80
%18
4,745
2,373
80.0
7.05
7.37
%5
9,263
1,204
9.8
70.35 56.00
-%20
1,409
338
1.7
18.75 16.70
-%11
2,407
939
5.4
3%
87,388
28,689

Net Kar (mn TL)

Piyasa '15
2014
2015T
2016T Kar Tahmini TL
143
122
119
89
143
122
119
m.d.
143
122
119
m.d.
28
46
51
m.d.
249
243
251
289
102
92
101
74
-512
495
640
458
617
646
773
704
350
339
510
375
218
292
322
264
395
501
624
529
11
30
34
22
186
213
248
0
315
356
634
413
193
190
195
208
252
337
349
304
1,601
1,028
1,088
1,336
595
911
983
833
211
123
120
188
331
102
163
164
99
115
183
134
73
93
110
104
143
197
18
230
9
198
231
142
165
189
249
201
150
42
52
46
634
684
777
686
-20
12
25
17
574
698
648
670
283
173
183
195
1,460
1,408
1,757
1,421
1,737
1,803
2,510
2,191
1,819
1,505
655
1,698
2,008
1,880
1,863
2,015
261
289
334
289
212
243
295
266
15,177
15,838
17,335

Net Bor 1
(mn TL)
-234
-234
-234
83
91
757
3,587
3,281
347
204
-308
-12
991
2,378
231
1,103
1,863
2,038
1,159
1,258
1,664
305
408
-112
-218
69
2,805
16
507
225
6,400
-401
13,943
7,411
389
312
52,070

2014
9.4
9.8
6.9
7.7
6.1
8.5
8.5
5.2
9.2
8.2
7.9
8.5
6.2
22.4

F/K
2015T
8.3
8.7
6.3
7.0
5.4
7.0
7.6
4.8
7.9
7.5
7.0
7.5
5.4
17.0

2014
n.m
24.1
n.m
14.3
11.7
10.1
31.0
12.0

F/K
2015T
n.m
15.9
n.m
16.3
10.4
9.0
6.2
9.9

2014
11.0
13.6
11.2

F/K
2015T
15.0
10.2
14.9

2014
4.1
2.6
0.8
18.8
12.3
8.6
n.m
15.6
20.4
14.0
37.1
47.7
15.0
35.6
10.7
13.8
9.7
20.6
11.2
3.9
38.7
28.4
18.3
a.d.
9.4
6.1
12.9
n.m
14.9
7.5
11.7
16.0
6.9
12.3
14.4
30.3
16.0

F/K
2015T
4.8
3.0
0.9
11.5
12.6
9.6
28.7
14.9
21.0
10.4
29.3
17.3
13.1
31.5
10.9
10.3
15.1
13.5
19.2
12.8
33.2
22.3
13.3
20.2
8.2
21.6
11.9
69.3
12.3
12.3
12.1
15.4
8.4
13.1
13.0
26.4
17.3

EP: Endekse Paralel

E: Endeksin zerinde
EA: Endeksin Altnda
GG: Gzden Geiriliyora.d.: Anlaml deil
m.d.: Mevcut deil
1
"Net Bor" kolonunda gsterilen rakamlar ilgili hissenin aklanm son mali tablosuna gre hesaplanmtr. Holdingler iin Net Bor rakamlar banka itiraklerini kapsamamaktadr.

2016T
7.1
7.9
5.5
6.2
4.9
5.8
6.6
4.0
7.3
6.6
6.3
6.6
5.0
13.2

F/DD
2015T
1.1
1.2
0.8
0.8
0.7
0.8
1.0
0.7
0.8
1.2
0.9
1.0
0.6
3.1

2016T
1.0
1.1
0.7
0.7
0.6
0.7
0.9
0.6
0.7
1.0
0.8
0.9
0.6
2.7

Net Aktif
Deer TLmn
2,340
1,658
3,224
10,482
32,128
29,329
2,790

skonto
(%)
-24%
-50%
-43%
-26%
-2%
-28%
-38%

2014
1.2
1.0

F/DD
2015T
1.2
0.9

2016T
1.1
0.8

2014
6.0
5.6
6.4
10.8
8.1
6.6
10.3
9.1
16.4
7.1
23.0
8.3
11.5
14.4
7.2
8.9
6.9
17.2
7.2
6.0
11.2
15.1
7.3
85.6
7.9
19.3
10.5
10.9
10.9
4.6
15.8
7.3
9.1
6.4
12.5
20.3
9.7

FD/VAFK
2015T
6.1
5.7
6.5
10.4
7.9
6.4
9.4
8.6
12.9
5.1
18.2
5.4
10.5
11.9
7.3
6.6
8.7
11.6
8.2
8.5
9.9
12.6
7.8
10.7
6.4
13.9
9.6
8.6
9.4
3.9
8.2
7.0
8.4
6.2
9.7
17.5
8.7

2016T
6.1
5.7
6.5
8.8
7.5
5.9
8.3
7.3
10.9
4.8
14.8
4.6
8.7
9.7
7.2
6.0
8.3
10.2
8.2
6.7
8.9
11.0
26.3
10.0
4.8
11.9
7.4
7.2
8.4
3.5
8.1
6.5
7.7
6.2
8.7
14.6
7.9

2014
1.2
1.4
1.0
0.9
0.8
0.9
1.1
0.8
0.9
1.3
1.1
1.1
0.7
3.5

2016T
221.0
12.0
n.m
15.2
10.0
7.6
5.1
8.8
2016T
9.7
10.8
9.7
2016T
4.9
3.1
1.0
10.4
12.2
8.7
22.2
12.5
14.0
9.4
23.5
15.1
11.2
17.7
10.6
10.0
14.3
12.5
19.7
8.0
20.8
18.8
143.8
17.3
6.2
17.6
10.5
33.8
13.2
11.6
9.7
11.1
19.3
13.2
11.2
21.7
16.1

De.
13%

Uyar metnini okuyunuz