Performance evaluation allows companies to measure their progress towards their goals by evaluating their corporate governance and effectiveness. In this study, the Malmquist Total Factor Productivity Index is used to measure the performance of 21 food enterprises in the BIST food and beverage index between 2018:01 and 2022:02. Quarterly data is used for the analysis, and various financial ratios such as the current ratio, liquidity ratio, leverage ratio, average recovery period of receivables, and inventory turnover rate are included as input variables. The output variables included in the analysis are net profit margin and net period profit/total assets. In order to calculate the sector efficiency index, the horizontal cross-sectional averages of all input and output variables were taken to form the input and output variables for the sector. According to the results of the analysis, the period of March–June 2019 was the period with the highest productivity increase for companies within the periods analyzed. The most unfavorable period in terms of companies' productivity was the third quarter of 2020 and 2021. The reason for the low productivity in this period can be seen as the negative impact of the COVID-19 pandemic on businesses. It is possible to say that the productivity of enterprises operating in the food sector fluctuated throughout the periods analyzed. It is seen that there was an increase in productivity in 8 of the 17 periods considered in terms of sectoral terms, stagnation in 1 period, and a decrease in productivity in 8 periods. According to the results obtained in the study, companies can use performance measurement tools such as the Malmquist Productivity Index to evaluate their efficiency and productivity, make informed decisions on resource allocation and investment strategies, and identify areas for operational improvement.