{"id":156200,"date":"2026-01-05T05:25:20","date_gmt":"2026-01-05T05:25:20","guid":{"rendered":"https:\/\/friss-hirek.hu\/index.php\/csucson-a-magyar-tozsde-es-meg-mindig-rendkivul-olcso-erdemes-verszemet-kapni\/friss-hirek\/"},"modified":"2026-01-05T05:25:20","modified_gmt":"2026-01-05T05:25:20","slug":"csucson-a-magyar-tozsde-es-meg-mindig-rendkivul-olcso-erdemes-verszemet-kapni","status":"publish","type":"post","link":"https:\/\/friss-hirek.hu\/index.php\/csucson-a-magyar-tozsde-es-meg-mindig-rendkivul-olcso-erdemes-verszemet-kapni\/friss-hirek\/","title":{"rendered":"Cs\u00facson a magyar t\u0151zsde, \u00e9s m\u00e9g mindig rendk\u00edv\u00fcl olcs\u00f3 \u2013 \u00e9rdemes v\u00e9rszemet kapni?"},"content":{"rendered":"<p>Zsin\u00f3rban harmadik \u00e9ve produk\u00e1lt 30 sz\u00e1zal\u00e9k feletti emelked\u00e9st a Budapesti \u00c9rt\u00e9kt\u0151zsde (B\u00c9T) r\u00e9szv\u00e9nyindexe a BUX, \u00e9s december k\u00f6zep\u00e9re \u00e1tl\u00e9pte a rekordnak sz\u00e1m\u00edt\u00f3 110 ezer pontot. \u00c9ves teljes\u00edtm\u00e9ny alapj\u00e1n 2023-ban k\u00f6zel 40 sz\u00e1zal\u00e9kkal ugrott meg az index, 2024-ben 30 sz\u00e1zal\u00e9k feletti emelked\u00e9st mutatott, m\u00edg 2025-ben a n\u00f6veked\u00e9s \u00fcteme ism\u00e9t megk\u00f6zel\u00edtette a 40 sz\u00e1zal\u00e9kot.<\/p><div id=\"friss-875982643\" class=\"friss-etarget friss-entity-placement\"><script type=\"text\/javascript\" id=\"etargetScript7a9b589f63cb072bef80df221f46a22b\">function etargetPostloadFunction7a9b589f63cb072bef80df221f46a22b(){var e=\"etargetPostload7a9b589f63cb072bef80df221f46a22b\",t=\"etargetScript7a9b589f63cb072bef80df221f46a22b\",o=document.getElementById(e);if(o){for(var n=o.offsetTop,d=o.offsetLeft,r=o.offsetWidth,a=o.offsetHeight;o.offsetParent;)o=o.offsetParent,n+=o.offsetTop,d+=o.offsetLeft;var i=(n<=window.pageYOffset+window.innerHeight&&d<window.pageXOffset+window.innerWidth&&n+a>window.pageYOffset&&d+r>window.pageXOffset);if(i&&etargetAllowOtherCheck){allowed=!1;var c=document.createElement(\"script\");return c.src=\"\/\/hu.search.etargetnet.com\/generic\/uni.php?g=ref:58661,area:700x210\",void(document.getElementById(t)&&document.getElementById(e)&&(document.getElementById(t).parentNode.appendChild(c),document.getElementById(t).parentNode.removeChild(document.getElementById(t)),document.getElementById(e).parentNode.removeChild(document.getElementById(e)),document.removeEventListener(\"scroll\",etargetPostloadFunction7a9b589f63cb072bef80df221f46a22b),document.removeEventListener(\"resize\",etargetPostloadFunction7a9b589f63cb072bef80df221f46a22b),document.removeEventListener(\"DOMContentLoaded\",etargetPostloadFunction7a9b589f63cb072bef80df221f46a22b)))}}}var etargetDivID=\"etargetPostload7a9b589f63cb072bef80df221f46a22b\",etargetScriptID=\"etargetScript7a9b589f63cb072bef80df221f46a22b\",etargetPostloadPoint=document.createElement(\"div\");etargetPostloadPoint.id=etargetDivID;var etargetCurScript=document.getElementById(etargetScriptID);etargetCurScript.parentNode.appendChild(etargetPostloadPoint),document.addEventListener(\"scroll\",etargetPostloadFunction7a9b589f63cb072bef80df221f46a22b),document.addEventListener(\"resize\",etargetPostloadFunction7a9b589f63cb072bef80df221f46a22b),document.addEventListener(\"DOMContentLoaded\",etargetPostloadFunction7a9b589f63cb072bef80df221f46a22b);var etargetAllowOtherCheck=!0;if(typeof(\"forceRunPostload\")==\"string\"){etargetPostloadFunction7a9b589f63cb072bef80df221f46a22b()}<\/script><\/div>\n<p>Az index mozg\u00e1s\u00e1t \u2013 ahogy kor\u00e1bban is \u2013 a n\u00e9gy blue chip (OTP, Mol, Richter, Magyar Telekom) hat\u00e1rozta meg, melyek egy\u00fctt a BUX kosar\u00e1nak mintegy 90 sz\u00e1zal\u00e9k\u00e1t teszik ki.<\/p>\n<ul>\n<li>Az OTP Csoport konszolid\u00e1lt ad\u00f3z\u00e1s ut\u00e1ni nyeres\u00e9ge 2025 els\u0151 kilenc h\u00f3napj\u00e1ban 849 milli\u00e1rd forintra n\u0151tt, ami 3 sz\u00e1zal\u00e9kos \u00e9ves n\u00f6veked\u00e9s a b\u00e1zisid\u0151szakhoz k\u00e9pest. Ezzel nagy val\u00f3sz\u00edn\u0171s\u00e9ggel megd\u0151l a 2024-es rekord, az 1076 milli\u00e1rd forintos nett\u00f3 profit, ami k\u00f6zel a h\u00e1romszorosa volt a 2019-es szintnek. Az OTP-r\u00e9szv\u00e9nyek \u00e1rfolyama tavaly t\u00f6bb, mint 30 sz\u00e1zal\u00e9kkal n\u0151tt, \u00e9s december elej\u00e9n el\u00e9rte a 35 ezer forintot k\u00f6zel\u00edt\u0151 t\u00f6rt\u00e9nelmi maximumot. A p\u00e9nzint\u00e9zet saj\u00e1t t\u0151k\u00e9re jut\u00f3 nyeres\u00e9gess\u00e9ge rendk\u00edv\u00fcl magas, ami \u00f6nmag\u00e1ban megmagyar\u00e1zhatja a r\u00e9szv\u00e9ny\u00e1rfolyam emelked\u00e9s\u00e9t.<\/li>\n<li>A Magyar Telekom 2025 els\u0151 kilenc h\u00f3napj\u00e1ban k\u00f6zel 30 sz\u00e1zal\u00e9kkal, 165,6 milli\u00e1rd forintra n\u00f6velte ad\u00f3zott nyeres\u00e9g\u00e9t, \u00edgy m\u00e1r szeptember v\u00e9g\u00e9re fel\u00fclm\u00falta az el\u0151z\u0151 \u00e9vi 163,4 milli\u00e1rd forintos rekordprofitj\u00e1t. \u00d6sszehasonl\u00edt\u00e1sk\u00e9ppen: az ad\u00f3zott eredm\u00e9ny 2019-ben 44,5 milli\u00e1rd forint volt. A Telekom \u00e1rfolyama k\u00f6zel a hatszoros\u00e1ra ugrott 2022 \u00f3ta, tavaly 5 sz\u00e1zal\u00e9k k\u00f6r\u00fcli m\u00e9rt\u00e9kben emelkedett.<\/li>\n<li>A Mol a 2025-\u00f6s \u00e9vben biztosan nem haladja meg a 2022-es rekord\u00e9v t\u00f6bb mint 4 milli\u00e1rd doll\u00e1ros kamatok, ad\u00f3z\u00e1s \u00e9s \u00e9rt\u00e9kcs\u00f6kken\u00e9si le\u00edr\u00e1s el\u0151tti eredm\u00e9nyszintj\u00e9t (EBITDA). A 2025 els\u0151 kilenc h\u00f3napj\u00e1ban el\u00e9rt k\u00f6zel 2,5 milli\u00e1rd doll\u00e1ros EBITDA azt vet\u00edti el\u0151re, hogy a c\u00e9g ink\u00e1bb a 2023-as \u00e9s 2024-es stabil teljes\u00edtm\u00e9nyhez igazodik. Az olajc\u00e9g r\u00e9szv\u00e9nyeinek \u00e1rfolyama mintegy 10 sz\u00e1zal\u00e9kkal n\u0151tt tavaly, \u00e9s ez minden bizonnyal <a href=\"https:\/\/24.hu\/fn\/gazdasag\/2025\/09\/17\/mol-koolaj-uzemanyag-uzemanyagar-hernadi-zsolt-benzin-benzinar-gazolaj-orosz-ukran-baratsag-vezetek-finomito-brent-vlagyimir-putyin\/\">bus\u00e1s osztal\u00e9kot biztos\u00edt<\/a> majd a r\u00e9szv\u00e9nyeseknek.<\/li>\n<li>A Richter ad\u00f3zott eredm\u00e9nye 2025 els\u0151 kilenc h\u00f3napj\u00e1ban 163 milli\u00e1rd forintra cs\u00f6kkent, ami 7 sz\u00e1zal\u00e9kos visszaes\u00e9s 2024 azonos id\u0151szak\u00e1hoz k\u00e9pest. Ez a profitszint azonban hossz\u00fa t\u00e1von m\u00e9g mindig elk\u00e9peszt\u0151en magas, hiszen a c\u00e9g 2019 eg\u00e9sz\u00e9ben m\u00e9rt, akkori rekorderedm\u00e9nye 51,6 milli\u00e1rd forint volt. A Richter pap\u00edrjai tavaly k\u00f6r\u00fclbel\u00fcl 4 sz\u00e1zal\u00e9kkal dr\u00e1gultak.<\/li>\n<\/ul>\n<figure aria-describedby=\"caption-4561853\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-4561853\" src=\"https:\/\/s.24.hu\/app\/uploads\/2025\/12\/central-1033299020.jpg\" alt=\"\" width=\"2000\" height=\"1333\" title=\"Cs\u00facson a magyar t\u0151zsde, \u00e9s m\u00e9g mindig rendk\u00edv\u00fcl olcs\u00f3 \u2013 \u00e9rdemes v\u00e9rszemet kapni? 1\" \/><figcaption class=\"wp-caption-text\"><span class=\"a-imgSource\">Szajki B\u00e1lint \/ 24.hu<\/span><\/figcaption><\/figure>\n<h2>M\u00e9g jelen van a h\u00e1bor\u00fa nyomaszt\u00f3 \u00e1rny\u00e9ka<\/h2>\n<p>Az \u00e9vr\u0151l \u00e9vre z\u00e1poroz\u00f3 rekordprofitok \u00e9s a minden kor\u00e1bbin\u00e1l magasabb r\u00e9szv\u00e9ny\u00e1rfolyamok ellen\u00e9re a BUX nemcsak nemzetk\u00f6zi \u00f6sszevet\u00e9sben, hanem a kor\u00e1bbi \u00f6nmag\u00e1hoz k\u00e9pest is nagyon olcs\u00f3nak sz\u00e1m\u00edt.<\/p>\n<p>Ha az \u00fagynevezett price-to-earnings (P\/E) mutat\u00f3t vizsg\u00e1ljuk (ami az indexben l\u00e9v\u0151 v\u00e1llalatok r\u00e9szv\u00e9nyeinek \u00e1rfolyam\u00e1t viszony\u00edtja a c\u00e9gek \u00e1ltal megtermelt, egy r\u00e9szv\u00e9nyre jut\u00f3 nyeres\u00e9ghez), a magyar piac szintje 7,36 volt a 12 h\u00f3napra el\u0151retekint\u0151 adatok alapj\u00e1n. Ehhez k\u00e9pest az amerikai S&amp;P 500 index 22,1-\u00f6s, a n\u00e9met DAX 15,5-\u00f6s, de m\u00e9g a lengyel t\u0151zsde indexe is j\u00f3val magasabb, 10,65-\u00f6s szintet t\u00fckr\u00f6z\u00f6tt.<\/p>\n<p>A vezet\u0151 r\u00e9szv\u00e9nyek egyedileg is alul\u00e1razottak az elm\u00falt \u00e9vek \u00e1tlag\u00e1hoz k\u00e9pest, p\u00e9ld\u00e1ul az OTP-pap\u00edrok P\/E-je 7,5 k\u00f6r\u00fcli szinten \u00e1llt 2025-ben, szemben az elm\u00falt h\u00fasz \u00e9v 9-es \u00e1tlag\u00e1val.<\/p>\n<p><span class=\"highlight-block-small _ce_measure_widget\" data-ce-measure-widget=\"Kiemel\u00e9s - hossz\u00fa sz\u00f6veghez\">A hazai blue chipekr\u0151l elmondhat\u00f3, hogy hi\u00e1ba ugrik nagyot a teljes\u00edtm\u00e9ny\u00fck, az \u00e1raz\u00e1suk nyomott marad, nem n\u00f6vekszik.<\/span><\/p>\n<p>Milyen okok \u00e1llnak ennek h\u00e1tter\u00e9ben, \u00e9s vajon \u00e9rdemes-e v\u00e1rni b\u00e1rmif\u00e9le \u00e1tt\u00f6r\u00e9sre, ami e t\u00e9ren megalapozhatja a BUX tov\u00e1bbi n\u00f6veked\u00e9s\u00e9t?<\/p>\n<p>The post <a href=\"https:\/\/24.hu\/fn\/gazdasag\/2026\/01\/05\/budapesti-ertektozsde-reszvenypiac-befektetes-otp-mol-richter-magyar-telekom\/\" target=\"_blank\">Cs\u00facson a magyar t\u0151zsde, \u00e9s m\u00e9g mindig rendk\u00edv\u00fcl olcs\u00f3 \u2013 \u00e9rdemes v\u00e9rszemet kapni?<\/a> first appeared on <a href=\"https:\/\/24.hu\/\" target=\"_blank\">24.hu<\/a>.<\/p><div id=\"friss-2580556771\" class=\"friss-etarget-cikk-vege friss-entity-placement\"><script type=\"text\/javascript\" id=\"etargetScript7a9b589f63cb072bef80df221f46a22b\">function etargetPostloadFunction7a9b589f63cb072bef80df221f46a22b(){var e=\"etargetPostload7a9b589f63cb072bef80df221f46a22b\",t=\"etargetScript7a9b589f63cb072bef80df221f46a22b\",o=document.getElementById(e);if(o){for(var n=o.offsetTop,d=o.offsetLeft,r=o.offsetWidth,a=o.offsetHeight;o.offsetParent;)o=o.offsetParent,n+=o.offsetTop,d+=o.offsetLeft;var 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c.src=\"\/\/hu.search.etargetnet.com\/generic\/uni.php?g=ref:58661,area:700x210\",void(document.getElementById(t)&&document.getElementById(e)&&(document.getElementById(t).parentNode.appendChild(c),document.getElementById(t).parentNode.removeChild(document.getElementById(t)),document.getElementById(e).parentNode.removeChild(document.getElementById(e)),document.removeEventListener(\"scroll\",etargetPostloadFunction7a9b589f63cb072bef80df221f46a22b),document.removeEventListener(\"resize\",etargetPostloadFunction7a9b589f63cb072bef80df221f46a22b),document.removeEventListener(\"DOMContentLoaded\",etargetPostloadFunction7a9b589f63cb072bef80df221f46a22b)))}}}var etargetDivID=\"etargetPostload7a9b589f63cb072bef80df221f46a22b\",etargetScriptID=\"etargetScript7a9b589f63cb072bef80df221f46a22b\",etargetPostloadPoint=document.createElement(\"div\");etargetPostloadPoint.id=etargetDivID;var 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id=\"friss-4172511684\" class=\"friss-after-content_3 friss-entity-placement\">https:\/\/www.youtube.com\/watch?v=Pdnw4KiUWp0<\/div>","protected":false},"excerpt":{"rendered":"<p>Zsin\u00f3rban harmadik \u00e9ve produk\u00e1lt 30 sz\u00e1zal\u00e9k feletti emelked\u00e9st a Budapesti \u00c9rt\u00e9kt\u0151zsde (B\u00c9T) r\u00e9szv\u00e9nyindexe a BUX, \u00e9s december k\u00f6zep\u00e9re \u00e1tl\u00e9pte a rekordnak sz\u00e1m\u00edt\u00f3 110 ezer pontot. \u00c9ves teljes\u00edtm\u00e9ny alapj\u00e1n 2023-ban k\u00f6zel 40 sz\u00e1zal\u00e9kkal ugrott meg az index, 2024-ben 30 sz\u00e1zal\u00e9k feletti emelked\u00e9st mutatott, m\u00edg 2025-ben a n\u00f6veked\u00e9s \u00fcteme ism\u00e9t megk\u00f6zel\u00edtette a 40 sz\u00e1zal\u00e9kot. Az index mozg\u00e1s\u00e1t [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-156200","post","type-post","status-publish","format-standard","hentry","category-friss-hirek"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/friss-hirek.hu\/index.php\/wp-json\/wp\/v2\/posts\/156200","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/friss-hirek.hu\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/friss-hirek.hu\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/friss-hirek.hu\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/friss-hirek.hu\/index.php\/wp-json\/wp\/v2\/comments?post=156200"}],"version-history":[{"count":0,"href":"https:\/\/friss-hirek.hu\/index.php\/wp-json\/wp\/v2\/posts\/156200\/revisions"}],"wp:attachment":[{"href":"https:\/\/friss-hirek.hu\/index.php\/wp-json\/wp\/v2\/media?parent=156200"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/friss-hirek.hu\/index.php\/wp-json\/wp\/v2\/categories?post=156200"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/friss-hirek.hu\/index.php\/wp-json\/wp\/v2\/tags?post=156200"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}