Akademik Veri Yönetim Sistemi
Sosyoekonomi, cilt.34, sa.68, ss.33-58, 2026 (ESCI, Scopus, TRDizin)
The energy sector plays a vital role in ensuring sustainable economic development and achieving climate targets. In addition to its strategic importance, the increasing investment in the energy sector suggests that it is increasingly important to investors, and the financial performance of energy companies is gaining significance in investment decisions. In this study, which employed Multi-Criteria Decision Making (MCDM) methods, the financial performance of energy companies listed on Borsa Istanbul between 2021 and 2023 was analysed. In the first stage of the analysis, the weights of the selected financial performance criteria were determined using the LOPCOW (Logarithmic Percentage Change-driven Objective Weighting) method, a technique that employs objective weighting. In the second stage, the financial performance ranking was created using the MAIRCA (Multi-Attribute Ideal-Real Comparative Analysis) method. MCDM methods analyse data from a single period (usually annual). The ranking results of the data analysis used in this study over three years were combined using the Borda count method. The findings offer a comprehensive assessment of the financial performance of firms in the energy sector, revealing that multiple factors influence this performance. The study results inform strategic decisions aimed at enhancing the financial performance of firms in the energy sector.