The aim of the present study is to optimize the financial performance of companies operating in the Borsa Istanbul (BIST) Mining and Quarrying sector during the COVID-19 global pandemic and the subsequent period (2020-2024) using financial ratios, and to determine their financial performance rankings. The MEREC (Method based on the Removal Effects of Criteria) method was used to weight the financial ratios, and MAUT (Multi-Attribute Utility Theory) was used to rank financial performance. It was observed that the importance ranking of the financial ratios changed across years; overall, profitability and capital-structure indicators were the most determinative of company financial performance during the period, whereas operational efficiency indicators were the least weighted. According to the MAUT ranking of alternatives, annual financial performance results were as follows: in 2020 the highest performing firm was KOZAL; in 2021 the highest was KOZAL; in 2022 the highest was KOZAL; in 2023 the highest was PRKME; in 2024 the highest was RUZYE.
Çilek et al. (Sat,) studied this question.