This research seeks to investigate the effect of operational performance on the relationship between government support and intellectual capital in companies listed on the Tehran Stock Exchange. We selected a statistical sample including 111 companies listed in the Tehran Stock Exchange during the years 2015-2022. The results of this study indicate that government ownership has a significant relationship with structural capital and human capital; and, it has had no relationship with relational capital. Also, operational performance has a negative and significant effect on the relationship between government ownership and structural capital and human capital and has weakened the relationship between these variables, It is in such a way that with the increase in operational performance, the ratio of administrative expenses to total revenues and the ratio of operating income to the total number of employees have decreased in companies with a higher level of state ownership. On the other hand, operational performance has a positive effect on the relationship between state ownership and relational capital, and it has strengthened the relationship, in such a way that in public companies with higher income, the ratio of sales, general and administrative expenses to total assets has increased.