{"id":51200,"date":"2026-02-23T09:00:07","date_gmt":"2026-02-23T06:00:07","guid":{"rendered":"https:\/\/ekonomigundemi.com.tr\/index.php\/2026\/02\/23\/incelenen-holdinglerde-ortalama-nad-iskontosu-yuzde-495"},"modified":"2026-02-23T09:00:07","modified_gmt":"2026-02-23T06:00:07","slug":"incelenen-holdinglerde-ortalama-nad-iskontosu-yuzde-495","status":"publish","type":"post","link":"https:\/\/ekonomigundemi.com.tr\/index.php\/2026\/02\/23\/incelenen-holdinglerde-ortalama-nad-iskontosu-yuzde-495\/","title":{"rendered":"\u0130ncelenen holdinglerde ortalama NAD iskontosu y\u00fczde 49,5"},"content":{"rendered":"<p>Marba\u015f Menkul De\u011ferler\u2019in 23 \u015eubat tarihli Holding B\u00fclteni\u2019ne g\u00f6re, ara\u015ft\u0131rma kapsam\u0131ndaki alt\u0131 holdingin ortalama Net Aktif De\u011fer (NAD) iskontosu y\u00fczde 49,5 olarak hesapland\u0131. \u0130skonto oranlar\u0131n\u0131n, holdinglerin g\u00fcncel NAD\u2019leri esas al\u0131narak belirlendi\u011fi ifade edildi.<\/p>\n<p>Marba\u015f Menkul De\u011ferler taraf\u0131ndan yay\u0131mlanan 23 \u015eubat tarihli Holding B\u00fclteni\u2019nde, ara\u015ft\u0131rma kapsam\u0131ndaki holdinglerin Net Aktif De\u011fer (NAD) iskontolar\u0131na ili\u015fkin de\u011ferlendirmelere yer verildi.<\/p>\n<p>B\u00fcltende, AG Anadolu Grubu Holding (AGHOL), Do\u011fan \u015eirketler Grubu Holding (DOHOL), Ko\u00e7 Holding (KCHOL), Sabanc\u0131 Holding (SAHOL), Net Holding (NTHOL) ve Alarko Holding (ALARK) i\u00e7in ortalama Net Aktif De\u011fer iskontosunun y\u00fczde 49,5 seviyesinde oldu\u011fu belirtildi. \u0130skonto oranlar\u0131n\u0131n, holdinglerin g\u00fcncel Net Aktif De\u011ferleri kullan\u0131larak hesapland\u0131\u011f\u0131 ifade edildi.<\/p>\n<p>A\u00e7\u0131klamada Net Aktif De\u011fer\u2019in, bir holdingin ekonomik de\u011ferini ortaya koyan temel g\u00f6stergelerden biri oldu\u011fu vurguland\u0131. NAD hesaplamas\u0131nda, holding b\u00fcnyesindeki ba\u011fl\u0131 ortakl\u0131k ve i\u015ftiraklerin piyasa de\u011ferlerinin, sahiplik oranlar\u0131 dikkate al\u0131narak topland\u0131\u011f\u0131; bu tutara ana \u015firket seviyesindeki nakit ve nakit benzeri varl\u0131klar ile bor\u00e7luluk durumunun (solo net nakit veya net bor\u00e7 pozisyonu) eklendi\u011fi ya da d\u00fc\u015f\u00fcld\u00fc\u011f\u00fc aktar\u0131ld\u0131.<\/p>\n<p>Bu \u00e7er\u00e7evede Net Aktif De\u011fer\u2019in, holdingin do\u011frudan ve dolayl\u0131 yat\u0131r\u0131mlar\u0131n\u0131n yan\u0131 s\u0131ra finansal pozisyonunu da i\u00e7eren b\u00fct\u00fcnc\u00fcl bir de\u011ferleme \u00f6l\u00e7\u00fct\u00fc oldu\u011fu ifade edildi. G\u00fcncel NAD\u2019\u0131n, holdinglerin halka a\u00e7\u0131k i\u015ftiraklerinin piyasa de\u011ferlerindeki de\u011fi\u015fime ba\u011fl\u0131 olarak farkl\u0131l\u0131k g\u00f6sterebildi\u011fi kaydedildi.<\/p>\n<p>B\u00fcltende ayr\u0131ca iskontonun, g\u00fcncel NAD ile holdingin mevcut piyasa de\u011feri aras\u0131ndaki farka g\u00f6re de\u011fi\u015fkenlik g\u00f6sterdi\u011fi ve s\u00f6z konusu oranlar\u0131n g\u00fcncel NAD verileri esas al\u0131narak hesapland\u0131\u011f\u0131 belirtildi.<\/p>\n<p> <strong><\/strong><br \/>\nEKONOM\u0130 GAZETES\u0130 <\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u0130stanbul, 23 \u015eubat (Hibya) &#8211; Marba\u015f Menkul De\u011ferler\u2019in 23 \u015eubat tarihli Holding B\u00fclteni\u2019ne g\u00f6re, ara\u015ft\u0131rma kapsam\u0131ndaki alt\u0131 holdingin ortalama Net Aktif De\u011fer (NAD) iskontosu y\u00fczde 49,5 olarak hesapland\u0131.<\/p>\n","protected":false},"author":1,"featured_media":51201,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"googlesitekit_rrm_CAow07ekDA:productID":"","footnotes":""},"categories":[12,4,1],"tags":[],"class_list":["post-51200","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-spor","category-dunya","category-ekonomi"],"_links":{"self":[{"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/posts\/51200","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/comments?post=51200"}],"version-history":[{"count":0,"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/posts\/51200\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/media\/51201"}],"wp:attachment":[{"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/media?parent=51200"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/categories?post=51200"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/tags?post=51200"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}