Clustering the productivities of companies in Türkiye using the k-means method

This thesis analyzes the operational and financial efficiencies of companies operating in the Turkish food sector and traded on Borsa İstanbul (BIST). The main objective of the study is to classify these companies based on their similarities using determined efficiency indicators and to reveal the differences within the sector. Stock turnover rate and cash conversion cycle were used to measure operational efficiency, while return on equity (ROE) and return on assets (ROA) ratios were used to measure financial efficiency. These ratios were standardized, and comparisons were made between companies using the k-means clustering method, and their efficiency levels were analyzed. The study used quarterly financial data from 2019 to 2024. With the k-means method, companies were divided into 4 different homogeneous clusters, and the efficiency characteristics of each cluster were evaluated comparatively. The results of the study showed that the number of relatively efficient companies in the sector increased in general in 2021-2022, but after 2022, there was a significant decrease in the number of high-performing companies.