Transportation activity has a crucial place among logistic activities due to the constant need for relocation. Different modes of transportation are used to meet this need. Railway transportation is a means of transport that is carried out by using combined vehicle sequences formed by combining towing and towed vehicles in tracks. The management of this process is carried out through railway enterprises, which are economic units. To make the economic structure of these enterprises strong, the financial statement analyses of these enterprises need to be executed in a comprehensible way. This study aims to evaluate the financial performance of the enterprises that perform freight transport activities in the railway freight transport sector in Turkey.  For this purpose, the financial statement data of the related enterprises between 2009 and 2020 was obtained from the Central Bank of the Republic of Turkey (CBRT) sector balance sheets page. The values found as a result of the ratio analysis of the data obtained from the balance sheet and income statements were determined as criteria and analyzed by weighting using the Entropy method. Then, the criteria weights obtained were compared using the TOPSIS method. Consequently, it was determined that the best year in the financial performance ranking of the sector was 2018 whereas 2009 was the lowest.