Özet:

Companies that effectively use and implement technological innovations in the financial sector are referred to as financial technology (FinTech) companies. Today, FinTech companies generally are engaged in activities such as payment, API providers, crypto money, interpersonal borrowing, accounting, auditing, personal finance, national/international money transfers, crowdfunding, and loans. The issue of whether FinTech companies will compete with traditional financial companies or act together is still a matter of debate. No matter how this discussion turns out, FinTech companies are also researched with analyses like the companies in the traditionally expressed financial sector. In the literature, the most frequently used method in performance measurement is the ratio analysis method. The aim of this study is to investigate the relationship between the financial ratios and profitability of FinTech companies operating in the KBW NASDAQ Financial Technology Index (KFTX). The NASDAQ Financial Technology Index is a FinTech index jointly announced by KBW Investment Bank, Stifel Financial Corporation and Nasdaq in 2016, and includes influential FinTech companies predominantly engaged in big data, currency-based transactions and payment. According to KBW, these companies make up 18% of the US financial sector and have a market capitalization of $785 billion. The financial ratios obtained from the financial statements of the companies in the KBW NASDAQ Financial Technology Index between the years 2016-2021 are the variables used in the study. In the analysis part of the study, panel regression models were used to measure the relationship between the variables. The dependent variables in the models created in the study are return on assets (ROA) and return on equity (ROE) and the independent variables are leverage ratio, current ratio, gross profit margin, asset turnover, receivables turnover and debt turnover.

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