Financial performance analysis in industrial enterprises included in BIST petrol index and an application with TOPSIS Method

In today's conditions of competition, performance measurement is very important so that enterprises can be successful and maintain their continuties. The oil-based industry enterprises also like the other enterprises assess their financial performance to keep up with conditions of competition and increase their profitabilities. In the study, Financial Statements of oil-based three enterprises which were processed in BIST 30, appeared in the oil index between 2011-2015 years were used. Financial performances of these enterprises were analysed by being used TOPSIS method. In this study, while financial performances of the Enterprises were being examined, liquidity, profitability, activity and leverage ratios were used. Financial performance levels of enterprises were determined through these ratios. In the proceeding stages of study, the best positive valence proximity and negative valence distance (ideal values) were evaluated by the calculated financial performance points. By the end of study, according to TOPSIS result whether there was a relationship between the gradation of enterprises which owned the best performance and the gross profit gradation of enterprises or not was researched and to what extent the gross profitability of the enterprise is influenced by the fluctuation between the Naphtha and ethylene prices was examined. Determination and evaluation of financial performances of enterprises are important among business owners and managers in addition to business shareholders, tax institutions, lenders, investors and public institutions. As a result of these explanations, the result about performance levels of enterprises along with theoretical data has been tried to be reached. Keywords: The Oil-Based Industry Enterprises, The Petrol Index of BIST, Financial Performance, TOPSIS Method