The goal of this study is to explore the association between the financial performance of companies operating in Borsa Istanbul (BIST) BIST textile, clothing and leather sector, based on their financial statements, and their stock returns for the period 2015-2020. In the first stage of the three-stage analysis, the priority weights of the selected criteria were computed using SWARA. In the second stage, the performance ranking of the firms was calculated with the MARCOS method. At the last stage, the relationship between performance scores obtained from the proposed performance evaluation model and stock returns was examined by correlation analysis. According to the findings obtained from the proposed performance evaluation model, SNPAM is the most successful company in 2015, 2016, 2017 and 2018. Based on the results of the correlation analysis, it has been determined that there is no significant relationship between stock returns and financial performance by years, except for 2020.