Evaluation of Financial Performance of Software Firms Using Grey Relational Analysis Method

The software sector is one of the important sectors that has been widely present in many sectors and is expected to increase its level of influence and scope in many sectors in the future. In this study, the Grey Relational Analysis (GRA) method was used to evaluate the financial performance of software firms in a scope that has not been previously examined in the literature. For this purpose, GRA analysis was performed on the financial ratios included in the scope of the study for five software firms with high market capitalization included in the analysis. According to the analysis results, Firm 1 ranked first with the highest grey relational grade in 2023 (n=0.8099), 2022 (n=0.8173) and 2021 (n=0.7326), while Firm 5 ranked first with the highest grey relational grade in 2024 (n=0.7834). It is thought that this study can provide useful information to researchers and practitioners.