Evaluation of Financial Performance of Businesses in Stock Market Istanbul Retail Trade Sector According to Traditional and Cash Flow Ratios with Cocoso Method

Authors : Ayşe Soy Temür, Saadet Tulum

Pages : 359-377

Doi:10.16951/trendbusecon.1532523

View : 155 | Download : 143

Publication Date : 2025-07-15

Article Type : Research Paper

Abstract :The purpose of this research is to evaluate the financial performance of companies in the Istanbul Stock Market (BIST) retail trade sector comparatively based on traditional financial rates and cash flow rates. In the study, the financial ratio based on 12 traditional financial ratios and 14 cash flow statements obtained by benefiting from the annual financial statements of the enterprises published in public information platform (PIP) as a criterion in the calculation of financial performance rankings was taken into consideration. Critic method was used in calculating the criteria weights, while CoCoSo and TOPSIS method was used in determining the financial performance rankings. The ranking results obtained were compared and Spearman’s test was applied in order to determine whether there was consistency between the findings. In comparisons based on traditional and cash flow ratios, the highest level of similarity was obtained in 2017 and 2018 for the CoCoSo method and in 2017 and 2019 for the TOPSIS method. The lowest similarity was in 2021 and 2022 for CoCoSo and in 2018, 2021 and 2022 for TOPSIS. In the financial performance ranking results obtained from the methods, similar ranking results were achieved in all years except 2018 and 2019 for traditional ratios and 2019 and 2020 for cash flow ratios.
Keywords : Borsa Istanbul Perakende Ticaret, Critic Ağırlıklandırmalı CoCoSo, Finansal Performans, Nakit Akış Oranları

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