Evaluation of financial performances by companies with TOPSIS method: An application on BIST 30

MCDA Methods are mathematical methods that guide us in finding solutions with simple methods and reaching the right decision in our decision making problems with more than one alternative and more than one criterion. The MCDA methods are methods that will allow us to easily reach the optimal decision with both time and cost savings. Today, there are many MCDA methods that are used in academic studies and companies that attach importance to corporate governance. In this study, TOPSIS, ELECTRE and Grey Incidence Analysis methods are explained from MCDA methods and TOPSIS method is used in application part. As the data, the Profitability Ratios and the Vertical Percentage Ratios, which were obtained by using financial statement data from Independent Audit Reports published between 2010-2016 (excluding banks) of companies that were traded in BİST30 were used. Then, using the TOPSIS method, the previously calculated financial analysis ratios were used as criteria and analyzed. As a result of the study, it has come to the conclusion that the MCDA methods allow to make analyzes that include objective and subjective judgments that can be applied individually and as a group in complex decision making problems with time and cost savings. Keywords: TOPSİS, MCDA, Financial Performance, BİST30.