Evaluation of the financial performance of energy companies on BIST: A hybrid multi-criteria decision-making method

World population growth has accelerated the need for energy resources. Thus, energy companies are directed to renewable energy sources. In the study, the Istanbul Stock Exchange between the years 2021-2025, the financial performance of businesses registered in 20 energy ratios was investigated. In this study, nine criteria are discussed as an indicator of financial performance. Research Multi-Criteria Decision-Making Methods (MCDM) methods in PIV, WASPAS, ARAS, MOORA Ratio, Borda Count and, Copeland are employed. According to the results, the performance of the companies is better than that of others, A4.

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Publication Details

Journal
International Journal of Energy Studies
Published
2026-06-30
DOI
https://doi.org/10.58559/ijes.1921176
Primary Topic
Energy and Environmental Sustainability
Type
article
Field-Weighted Citation Impact
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article

Evaluation of the financial performance of energy companies on BIST: A hybrid multi-criteria decision-making method

Elçin Noyan
International Journal of Energy Studies
Energy and Environmental Sustainability
article

Evaluation of the financial performance of energy companies on BIST: A hybrid multi-criteria decision-making method

Elçin Noyan
article en

Abstract

World population growth has accelerated the need for energy resources. Thus, energy companies are directed to renewable energy sources. In the study, the Istanbul Stock Exchange between the years 2021-2025, the financial performance of businesses registered in 20 energy ratios was investigated. In this study, nine criteria are discussed as an indicator of financial performance. Research Multi-Criteria Decision-Making Methods (MCDM) methods in PIV, WASPAS, ARAS, MOORA Ratio, Borda Count and, Copeland are employed. According to the results, the performance of the companies is better than that of others, A4.

International Journal of Energy StudiesVol. 11(2)
Alanya University (TR)
Affordable and clean energy
Openalex Percentile: Top 21%
Energy and Environmental Sustainability
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