With regard to economic theories, financial innovation and also diversification of the country's financial markets lead to more appropriate allocation of resources and finally faster economic growth. This paper aimed to investigate the relationship between financial innovations on the financial performance of companies listed on Tehran Stock Exchange. The statistical population included all companies listed on the Tehran Stock Exchange during 2011 to 2018. The statistical sample consisted of companies that have used sukuk securities to finance themselves. The research findings showed that there was a positive and significant relationship between the issuance of sukuk securities and equity returns. Furthermore, the result indicated that there was no significant relationship between sukuk variable and return on assets.