The　purpose　of　this　paper　is　to　evaluate　the　performance　level　of　China＇s　iron　and　steel　listed　companies　from　the　perspective　of　value　chain.　With　the　aid　of　performance　evaluation　index　system,　this　paper　analyzes　which　indicators　can　affect　the　performance　level　of　enterprises　to　a　great　extent.　Firstly,　combining　with　the　BSC　and　the　hierarchical　model,　this　paper　establishes　the　index　system　of　the　performance　evaluation　of　steel　listed　companies　from　the　perspective　of　value　chain;　secondly,　using　analytic　hierarchy　process　to　determine　the　weight　of　indicators　at　all　levels;　finally,　based　on　the　weights　of　indicators　at　all　levels,　it　is　concluded　that　the　operation　of　the　value　chain　has　the　greatest　impact　on　the　performance　of　steel-listed　companies,　and　the　factors　that　further　screen　out　the　performance　of　steel-listed　companies　are　development　ability　index,　customer　satisfaction　rate　and　market　resilience.　©　2018　Walter　de　Gruyter　GmbH.　All　rights　reserved.