In today's world economy, firms focused on the maximization of shareholder value need to ensure that all activities yield positive net present values. Value based financial performance measures have been developed in an attempt to guide management actions towards achieving this objective. In this study, a hybrid approach is proposed for value based financial performance evaluation of automotive parts manufacturer companies of Tehran stock exchange (TSE). For this purpose, in this study based on eight value based measures an integrated fuzzy multi criteria decision making approach is presented for value based financial performance evaluation of companies. In current approach Fuzzy Analytic Hierarchy Process (FAHP) is applied to determine the weights of the criteria. Then the companies are ranked by Fuzzy Complex Proportional Assessment (Fuzzy COPRAS), simultaneously. The results represented the importance of each value based measures in financial evaluation of fourteen Iranian companies and ranking companies by applying the proposed approach.