Abstarct: Financial risk involves the level of uncertainty related to the return on investments and therefore affects the performance of companies. The aim of this study is to examine the effects of financial risks on the performance of companies. The financial risks used in this study include credit risk, liquidity risk and operational risk. The financial performance of the company is also measured by the return on enterprise (ROA). The research method is a panel data regression model. The software used to estimate the coefficients of the regression equation is EViews and the required data comes from the Library of Iran Stock Exchange Organization and Rahavard Software, which contains the information of 216 companies listed by the Tehran Stock Exchange and OTC companies between 2007 and 2021 According to the research goals, a two-factor analysis of variance (ANOVA) was performed and various regression models were estimated; Financial risks and macroeconomic variables such as inflation rates, exchange rate fluctuations, and economic growth rates are considered as independent variables, as well as logarithm of enterprise wealth, logarithm of sales volume, enterprise market share, and financial leverage (leverage) as control variables in estimation models. Analysis of the variance results shows that changes in firm performance are due to time and firm effects. The results of the estimation of the models show that the impact of liquidity and credit risk on company performance is positive and significant, and the impact of operational risk is negative and significant. Asset size and financial leverage have a significant negative impact, and sales have a significant positive impact on business development. Among the macroeconomic variables, the exchange rate change has a positive and significant impact on the performance index. It can be concluded that financial risks have a significant impact on company performance and exchange rates, assets, sales and financial leverage affect this performance.