Financial statements based on generally apply to judgments and methods of computation are about different aspects related items. In this study, indices of Value Added Economic (EVA) were compared mutually in relation with stocks market value of the companies. In order to perform this research pharmaceutical companies listed in Tehran Stock Exchange were selected and 30 companies were chosen as instances. Data analysis is done using descriptive statistics and correlation coefficient and finally

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... odel test. Results showed that the mean stocks market value 1.9 and Value Added Economic is 0.16. Correlation coefficient between Value Added Economic (42%) and variables of stocks market value 53(%) is positive and significant at the level of 1%. results showed that the Value Added Economic is a major index in perdict of stocks market value in pharmaceutical companies. Introduction Financial statements based on generally apply to judgments and methods of computation are about different aspects related items. Because of this feature, we examine the relationship between the various items (Eg level debtors than sell) a better view of the financial position, entity's financial performance and financial flexibility achieved. This type of analysis is sometimes Ratios that can be compared over time and between different business units. Performance evaluation is a formal process to provide information about the results; it identifies the strengths and exaggerates it. In order to create more values and the performance is better. In the measurement of performance based on traditional profit of accounting, the cost of financing is considered only through debt and stocks while, in the concept of economic value added, the quality is important in addition to its amount, and that, the profit has been earned from how much investment and how much the cost of investment is (Vakilian et al., 2009). Therefore, the value of each company depends on this subject that, how much the future expected profits are more than the cost of capital. So, if the used money have fluctuations every year, the ratio of profit to capital should be considered as criterion which is hidden in the concept of economic value added. Since accounting profit and consequently traditional profit and criteria of accounting change through change in accounting; so, managers can play with the figures by some strategies but, economic value added attempts to minimize income figures manipulation by required adjustments. Numerous companies around the world use this criterion to evaluate management performance of internal and external sections, and rewarding and motivating plans of the managers; and in this companies, the fundamental criterion for these evaluations is based on creating a value which ultimately causes to increase stockholders' welfare (Fatemi et al., 2003). Economic value added is a performance evaluation criterion which is apparently complicated; but, the researchers have provided a more appropriate understanding of this criterion by summarizing the computations of economic value added in a mathematical equation. Solaimani (2001) investigated the relationship between economic value added and market value of listed