Analysis of concurrent systems, such as computer/communication networks and manufacturing systems, usually employs formal discrete event models. The analysis then includes model validation, property verification, and performance evaluation of such models. The DEVS (Discrete Event Systems Specification) formalism is a well-known formal modeling framework which supports specification of discrete event models in a hierarchical, modular manner. While validation and verification using formal models may not resort to discrete event simulation, accurate performance evaluation must employ discrete event simulation of formal models. Since formal models, such as DEVS models, explicitly represent communication semantics between component models; their simulation cost is much higher than using simulation languages with informal models. This paper proposes a method for simulation speedup in performance evaluation of concurrent systems using DEVS models. The method is viewed as a compiled simulation technique which eliminates run-time interpretation of communication paths between component models. The elimination has been done by a behavior-preserved transformation method, called model composition, which is based on the closed under coupling property in DEVS theory. Experimental results show that the simulation speed of transformed DEVS models is about 14 times faster than original ones.