TOP SHIPS INC (TOPS)
MHY8897Y2307 - Common Stock
Overall TOPS gets a fundamental rating of 3 out of 10. We evaluated TOPS against 214 industry peers in the Oil, Gas & Consumable Fuels industry. While TOPS is still in line with the averages on profitability rating, there are concerns on its financial health. TOPS has a correct valuation and a medium growth rate.
1. Profitability
1.1 Basic Checks
In the past year TOPS has reported negative net income.
TOPS had a positive operating cash flow in the past year.
In the past 5 years TOPS reported 4 times negative net income.
Each year in the past 5 years TOPS had a positive operating cash flow.
1.2 Ratios
The Return On Assets of TOPS (-4.87%) is worse than 86.92% of its industry peers.
The Return On Equity of TOPS (-12.19%) is worse than 85.51% of its industry peers.
The Return On Invested Capital of TOPS (5.44%) is worse than 65.42% of its industry peers.
TOPS had an Average Return On Invested Capital over the past 3 years of 5.29%. This is significantly below the industry average of 44.14%.
The 3 year average ROIC (5.29%) for TOPS is below the current ROIC(5.44%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -4.87% | ||
| ROE | -12.19% | ||
| ROIC | 5.44% |
ROA(3y)-1.73%
ROA(5y)-4.4%
ROE(3y)-3.98%
ROE(5y)-12.54%
ROIC(3y)5.29%
ROIC(5y)4.44%
1.3 Margins
TOPS's Operating Margin of 34.68% is fine compared to the rest of the industry. TOPS outperforms 64.49% of its industry peers.
TOPS's Operating Margin has improved in the last couple of years.
TOPS has a better Gross Margin (98.06%) than 100.00% of its industry peers.
TOPS's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 34.68% | ||
| PM (TTM) | N/A | ||
| GM | 98.06% |
OM growth 3Y25.29%
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y0.47%
GM growth 5Y0.1%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so TOPS is destroying value.
TOPS has more shares outstanding than it did 1 year ago.
TOPS has more shares outstanding than it did 5 years ago.
The debt/assets ratio for TOPS is higher compared to a year ago.
2.2 Solvency
TOPS has an Altman-Z score of -0.45. This is a bad value and indicates that TOPS is not financially healthy and even has some risk of bankruptcy.
The Altman-Z score of TOPS (-0.45) is worse than 74.77% of its industry peers.
TOPS has a debt to FCF ratio of 8.31. This is a slightly negative value and a sign of low solvency as TOPS would need 8.31 years to pay back of all of its debts.
With a Debt to FCF ratio value of 8.31, TOPS perfoms like the industry average, outperforming 46.26% of the companies in the same industry.
TOPS has a Debt/Equity ratio of 1.24. This is a high value indicating a heavy dependency on external financing.
The Debt to Equity ratio of TOPS (1.24) is worse than 75.70% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.24 | ||
| Debt/FCF | 8.31 | ||
| Altman-Z | -0.45 |
ROIC/WACC0.76
WACC7.19%
2.3 Liquidity
A Current Ratio of 0.94 indicates that TOPS may have some problems paying its short term obligations.
TOPS has a worse Current ratio (0.94) than 65.42% of its industry peers.
A Quick Ratio of 0.91 indicates that TOPS may have some problems paying its short term obligations.
TOPS has a Quick ratio (0.91) which is in line with its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.94 | ||
| Quick Ratio | 0.91 |
3. Growth
3.1 Past
TOPS shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 79.35%, which is quite impressive.
TOPS shows a small growth in Revenue. In the last year, the Revenue has grown by 2.86%.
The Revenue has been growing by 15.13% on average over the past years. This is quite good.
EPS 1Y (TTM)79.35%
EPS 3YN/A
EPS 5YN/A
EPS growth Q2Q-189.7%
Revenue 1Y (TTM)2.86%
Revenue growth 3Y11.28%
Revenue growth 5Y15.13%
Revenue growth Q2Q0.01%
3.2 Future
Based on estimates for the next years, TOPS will show a very strong growth in Earnings Per Share. The EPS will grow by 31.32% on average per year.
TOPS is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 5.61% yearly.
EPS Next Y-39.37%
EPS Next 2Y31.32%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year4.69%
Revenue Next 2Y5.61%
Revenue Next 3YN/A
Revenue Next 5YN/A
3.3 Evolution
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
TOPS reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
Based on the Price/Forward Earnings ratio of 15.67, the valuation of TOPS can be described as correct.
TOPS's Price/Forward Earnings ratio is in line with the industry average.
TOPS is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 20.39, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | N/A | ||
| Fwd PE | 15.67 |
4.2 Price Multiples
TOPS's Enterprise Value to EBITDA ratio is in line with the industry average.
Based on the Price/Free Cash Flow ratio, TOPS is valued cheaply inside the industry as 97.66% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 1.97 | ||
| EV/EBITDA | 6.07 |
4.3 Compensation for Growth
A more expensive valuation may be justified as TOPS's earnings are expected to grow with 31.32% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y31.32%
EPS Next 3YN/A
5. Dividend
5.1 Amount
TOPS does not give a dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
TOP SHIPS INC
NYSEARCA:TOPS (5/7/2024, 7:26:58 PM)
12.31
+0.02 (+0.16%)
Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)
Earnings (Next)
Inst Owners
Inst Owner Change
Ins Owners
Ins Owner Change
Market Cap57.00M
Analysts
Price Target
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
Dividend Growth(5Y)
DP
Div Incr Years
Div Non Decr Years
Ex-Date
Surprises & Revisions
EPS beat(2)
Avg EPS beat(2)
Min EPS beat(2)
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EPS beat(4)
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EPS beat(8)
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EPS beat(12)
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EPS beat(16)
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Revenue beat(2)
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Revenue beat(4)
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Revenue beat(8)
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Revenue beat(12)
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Revenue beat(16)
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PT rev (1m)
PT rev (3m)
EPS NQ rev (1m)
EPS NQ rev (3m)
EPS NY rev (1m)
EPS NY rev (3m)
Revenue NQ rev (1m)
Revenue NQ rev (3m)
Revenue NY rev (1m)
Revenue NY rev (3m)
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | N/A | ||
| Fwd PE | 15.67 | ||
| P/S | |||
| P/FCF | |||
| P/OCF | |||
| P/B | |||
| P/tB | |||
| EV/EBITDA |
EPS(TTM)
EY
EPS(NY)
Fwd EY
FCF(TTM)
FCFY
OCF(TTM)
OCFY
SpS
BVpS
TBVpS
PEG (NY)N/A
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -4.87% | ||
| ROE | -12.19% | ||
| ROCE | |||
| ROIC | |||
| ROICexc | |||
| ROICexgc | |||
| OM | 34.68% | ||
| PM (TTM) | N/A | ||
| GM | 98.06% | ||
| FCFM |
ROA(3y)
ROA(5y)
ROE(3y)
ROE(5y)
ROIC(3y)
ROIC(5y)
ROICexc(3y)
ROICexc(5y)
ROICexgc(3y)
ROICexgc(5y)
ROCE(3y)
ROCE(5y)
ROICexcg growth 3Y
ROICexcg growth 5Y
ROICexc growth 3Y
ROICexc growth 5Y
OM growth 3Y
OM growth 5Y
PM growth 3Y
PM growth 5Y
GM growth 3Y
GM growth 5Y
F-Score
Asset Turnover0.18
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.24 | ||
| Debt/FCF | |||
| Debt/EBITDA | |||
| Cap/Depr | |||
| Cap/Sales | |||
| Interest Coverage | |||
| Cash Conversion | |||
| Profit Quality | |||
| Current Ratio | 0.94 | ||
| Quick Ratio | 0.91 | ||
| Altman-Z |
F-Score
WACC
ROIC/WACC
Cap/Depr(3y)
Cap/Depr(5y)
Cap/Sales(3y)
Cap/Sales(5y)
Profit Quality(3y)
Profit Quality(5y)
Growth
EPS 1Y (TTM)79.35%
EPS 3YN/A
EPS 5Y
EPS growth Q2Q
EPS Next Y-39.37%
EPS Next 2Y
EPS Next 3Y
EPS Next 5Y
Revenue 1Y (TTM)2.86%
Revenue growth 3Y11.28%
Revenue growth 5Y
Revenue growth Q2Q
Revenue Next Year
Revenue Next 2Y
Revenue Next 3Y
Revenue Next 5Y
EBIT growth 1Y
EBIT growth 3Y
EBIT growth 5Y
EBIT Next Year
EBIT Next 3Y
EBIT Next 5Y
FCF growth 1Y
FCF growth 3Y
FCF growth 5Y
OCF growth 1Y
OCF growth 3Y
OCF growth 5Y