Abstract: Today, Stock Exchange is one of the most influential institutions in the economy of any country this is to a degree that researchers and experts have considered its status as a measure of the economic health of a given society. In financial markets, several tools are used to create transparency in the market. The purpose of this study is to provide a performance evaluation model and to rank the top companies listed on Tehran Stock Exchange to explain the strengths and weaknesses and to determine opportunities and threats they face so that the results of its implementation provide the possibility of analysis and review of policies and programs and improvement of the performance of companies. On the other hand, it helps investors to reconsider their past investments so that they can make decisions about new investments according to the rankings based on performance evaluation. In this study, the list of top companies, 38 companies selected based on investment criteria, listed on Tehran Stock Exchange during 2011, announced by this organization every 3 months and the information needed per share were calculated. Then with the help of a ranking model, a combination of multi-criteria decision-making and Analytic Hierarchy Process (AHP) was used to analyze the structure and determine the weights of ranking criteria and the Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS) Method was used for ranking. Finally, concerning the priorities and aspirations of the investor, a goal programming model was used for selecting optimal investment portfolio. According to the results, the optimal investment portfolio includes shares of National Iranian Copper Industries Co, Mobile Communications Company of Iran (MCI), Chemical Industry and Fanavaran Petrochemical Co each of which have respectively 169, 244, 17 and 52 shares.