TOP SHIPS INC (TOPS) Stock Fundamental Analysis
NYSEARCA:TOPS - NYSE Arca - MHY8897Y2307 - Common Stock - Currency: USD
We assign a fundamental rating of 3 out of 10 to TOPS. TOPS was compared to 213 industry peers in the Oil, Gas & Consumable Fuels industry. There are concerns on the financial health of TOPS while its profitability can be described as average. TOPS has a bad growth rate and is valued cheaply.
1. Profitability
1.1 Basic Checks
In the past year TOPS was profitable.
TOPS had a positive operating cash flow in the past year.
The reported net income has been mixed in the past 5 years: TOPS reported negative net income in multiple years.
Each year in the past 5 years TOPS had a positive operating cash flow.
1.2 Ratios
The Return On Assets of TOPS (1.19%) is worse than 61.03% of its industry peers.
TOPS has a Return On Equity (3.49%) which is in line with its industry peers.
With a Return On Invested Capital value of 5.66%, TOPS perfoms like the industry average, outperforming 48.83% of the companies in the same industry.
TOPS had an Average Return On Invested Capital over the past 3 years of 5.65%. This is significantly below the industry average of 23.54%.
The last Return On Invested Capital (5.66%) for TOPS is above the 3 year average (5.65%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.19% | ||
| ROE | 3.49% | ||
| ROIC | 5.66% |
ROA(3y)-1.88%
ROA(5y)-2.77%
ROE(3y)-4.46%
ROE(5y)-5.98%
ROIC(3y)5.65%
ROIC(5y)4.93%
1.3 Margins
TOPS's Profit Margin of 5.84% is in line compared to the rest of the industry. TOPS outperforms 46.48% of its industry peers.
TOPS's Profit Margin has declined in the last couple of years.
TOPS has a better Operating Margin (32.40%) than 72.30% of its industry peers.
In the last couple of years the Operating Margin of TOPS has grown nicely.
TOPS has a Gross Margin of 97.67%. This is amongst the best in the industry. TOPS outperforms 100.00% of its industry peers.
TOPS's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 32.4% | ||
| PM (TTM) | 5.84% | ||
| GM | 97.67% |
OM growth 3Y4.53%
OM growth 5Y5.61%
PM growth 3Y-15.17%
PM growth 5YN/A
GM growth 3Y-0.01%
GM growth 5Y0.46%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), TOPS is destroying value.
TOPS has about the same amout of shares outstanding than it did 1 year ago.
The number of shares outstanding for TOPS has been increased compared to 5 years ago.
Compared to 1 year ago, TOPS has a worse debt to assets ratio.
2.2 Solvency
TOPS has an Altman-Z score of -0.57. This is a bad value and indicates that TOPS is not financially healthy and even has some risk of bankruptcy.
Looking at the Altman-Z score, with a value of -0.57, TOPS is doing worse than 74.18% of the companies in the same industry.
The Debt to FCF ratio of TOPS is 14.97, which is on the high side as it means it would take TOPS, 14.97 years of fcf income to pay off all of its debts.
TOPS has a Debt to FCF ratio (14.97) which is in line with its industry peers.
A Debt/Equity ratio of 1.70 is on the high side and indicates that TOPS has dependencies on debt financing.
TOPS has a Debt to Equity ratio of 1.70. This is in the lower half of the industry: TOPS underperforms 77.93% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.7 | ||
| Debt/FCF | 14.97 | ||
| Altman-Z | -0.57 |
ROIC/WACC0.82
WACC6.93%
2.3 Liquidity
A Current Ratio of 0.71 indicates that TOPS may have some problems paying its short term obligations.
Looking at the Current ratio, with a value of 0.71, TOPS is doing worse than 74.65% of the companies in the same industry.
TOPS has a Quick Ratio of 0.71. This is a bad value and indicates that TOPS is not financially healthy enough and could expect problems in meeting its short term obligations.
TOPS has a worse Quick ratio (0.68) than 69.95% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.71 | ||
| Quick Ratio | 0.68 |
3. Growth
3.1 Past
TOPS shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 110.04%, which is quite impressive.
The earnings per share for TOPS have been decreasing by -65.71% on average. This is quite bad
TOPS shows a small growth in Revenue. In the last year, the Revenue has grown by 3.89%.
Measured over the past years, TOPS shows a small growth in Revenue. The Revenue has been growing by 5.44% on average per year.
EPS 1Y (TTM)110.04%
EPS 3Y-65.71%
EPS 5YN/A
EPS Q2Q%105.74%
Revenue 1Y (TTM)3.89%
Revenue growth 3Y15.16%
Revenue growth 5Y5.44%
Sales Q2Q%5.4%
3.2 Future
No EPS estimates are available, so we could not analyze the future EPS growth and evolution.
No Revenue estimates are available, so we could not analyze the future revenue growth and evolution.
EPS Next Y184.42%
EPS Next 2YN/A
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year6.54%
Revenue Next 2YN/A
Revenue Next 3YN/A
Revenue Next 5YN/A
3.3 Evolution
No EPS estimates are available, so we could not analyze the future EPS growth and evolution.
No Revenue estimates are available, so we could not analyze the future revenue growth and evolution.
4. Valuation
4.1 Price/Earnings Ratio
With a Price/Earnings ratio of 5.09, the valuation of TOPS can be described as very cheap.
Compared to the rest of the industry, the Price/Earnings ratio of TOPS indicates a rather cheap valuation: TOPS is cheaper than 88.73% of the companies listed in the same industry.
When comparing the Price/Earnings ratio of TOPS to the average of the S&P500 Index (26.86), we can say TOPS is valued rather cheaply.
The Price/Forward Earnings ratio is 2.48, which indicates a rather cheap valuation of TOPS.
Based on the Price/Forward Earnings ratio, TOPS is valued cheaper than 98.12% of the companies in the same industry.
TOPS's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 21.43.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 5.09 | ||
| Fwd PE | 2.48 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of TOPS indicates a somewhat cheap valuation: TOPS is cheaper than 69.48% of the companies listed in the same industry.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of TOPS indicates a rather cheap valuation: TOPS is cheaper than 99.06% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 1.48 | ||
| EV/EBITDA | 5.43 |
4.3 Compensation for Growth
TOPS's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
PEG (NY)0.03
PEG (5Y)N/A
EPS Next 2YN/A
EPS Next 3YN/A
5. Dividend
5.1 Amount
TOPS does not give a dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
5.55
+0.07 (+1.28%)
Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)
Earnings (Next)
Inst Owners6.6%
Inst Owner Change19.64%
Ins Owners9.53%
Ins Owner Change0%
Market Cap25.70M
Analysts82.86
Price Target29.58 (432.97%)
Short Float %3.1%
Short Ratio0.32
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
Yearly Dividend0
Dividend Growth(5Y)N/A
DP0%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0%
PT rev (3m)0%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)0%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 5.09 | ||
| Fwd PE | 2.48 | ||
| P/S | 0.3 | ||
| P/FCF | 1.48 | ||
| P/OCF | 1.48 | ||
| P/B | 0.18 | ||
| P/tB | 0.18 | ||
| EV/EBITDA | 5.43 |
EPS(TTM)1.09
EY19.64%
EPS(NY)2.23
Fwd EY40.25%
FCF(TTM)3.74
FCFY67.41%
OCF(TTM)3.74
OCFY67.41%
SpS18.6
BVpS31.19
TBVpS31.19
PEG (NY)0.03
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.19% | ||
| ROE | 3.49% | ||
| ROCE | 7.16% | ||
| ROIC | 5.66% | ||
| ROICexc | 5.77% | ||
| ROICexgc | 5.77% | ||
| OM | 32.4% | ||
| PM (TTM) | 5.84% | ||
| GM | 97.67% | ||
| FCFM | 20.11% |
ROA(3y)-1.88%
ROA(5y)-2.77%
ROE(3y)-4.46%
ROE(5y)-5.98%
ROIC(3y)5.65%
ROIC(5y)4.93%
ROICexc(3y)5.96%
ROICexc(5y)5.17%
ROICexgc(3y)5.96%
ROICexgc(5y)5.17%
ROCE(3y)7.16%
ROCE(5y)6.52%
ROICexcg growth 3Y7.82%
ROICexcg growth 5Y12.11%
ROICexc growth 3Y7.82%
ROICexc growth 5Y12.11%
OM growth 3Y4.53%
OM growth 5Y5.61%
PM growth 3Y-15.17%
PM growth 5YN/A
GM growth 3Y-0.01%
GM growth 5Y0.46%
F-Score6
Asset Turnover0.2
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.7 | ||
| Debt/FCF | 14.97 | ||
| Debt/EBITDA | 4.8 | ||
| Cap/Depr | 0% | ||
| Cap/Sales | 0% | ||
| Interest Coverage | 1.44 | ||
| Cash Conversion | 33.93% | ||
| Profit Quality | 344.1% | ||
| Current Ratio | 0.71 | ||
| Quick Ratio | 0.68 | ||
| Altman-Z | -0.57 |
F-Score6
WACC6.93%
ROIC/WACC0.82
Cap/Depr(3y)543.54%
Cap/Depr(5y)809.92%
Cap/Sales(3y)89.51%
Cap/Sales(5y)134.82%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)110.04%
EPS 3Y-65.71%
EPS 5YN/A
EPS Q2Q%105.74%
EPS Next Y184.42%
EPS Next 2YN/A
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)3.89%
Revenue growth 3Y15.16%
Revenue growth 5Y5.44%
Sales Q2Q%5.4%
Revenue Next Year6.54%
Revenue Next 2YN/A
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y-2.96%
EBIT growth 3Y20.37%
EBIT growth 5Y11.35%
EBIT Next Year57.37%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-40.13%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-40.13%
OCF growth 3Y2.55%
OCF growth 5Y-2.03%