The aim of this study is to evaluate the financial performance of participation banks operating in Türkiye during the 2023-2025 period from a multidimensional perspective using multi-criteria decision-making (MCDM) methods. For this purpose, data obtained from the independently audited financial statements and annual reports of participation banks were utilized. Nine key financial ratios (CAR, CIR, CoR, LCR, LDR, NPL, NPM, ROA, and ROE), representing profitability, operational efficiency, fund management, risk, financial soundness, and asset quality, were included in the analysis. The LOPCOW method was employed to determine the weights of the evaluation criteria, while the MACONT method was used to rank the financial performance of the banks. The results of the LOPCOW analysis revealed that the criterion weights were generally distributed in a balanced manner across the years. However, the Fund Conversion Ratio emerged as the most influential criterion in 2023, whereas Net Profit Margin and Return on Assets were found to have greater importance and discriminating power in 2024 and 2025. The findings obtained from the MACONT method indicate that Türkiye Emlak Participation Bank consistently improved its performance throughout the analysis period and ranked first in 2025. Similarly, Albaraka Türk Participation Bank demonstrated a remarkable improvement, moving from eighth place to second place. In contrast, Vakıf Participation Bank experienced the largest decline in relative performance during the study period. Overall, the findings suggest that the financial performance of participation banks is shaped not only by profitability indicators but also by the combined effects of fund management, capital adequacy, liquidity, and asset quality. These results highlight the importance of adopting a multidimensional approach when evaluating the financial performance of participation banks.