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
TOPS had positive earnings in the past year.
In the past year TOPS had a positive cash flow from operations.
In multiple years TOPS reported negative net income over the last 5 years.
In the past 5 years TOPS always reported a positive cash flow from operatings.
1.2 Ratios
TOPS has a Return On Assets of 1.19%. This is in the lower half of the industry: TOPS underperforms 61.03% of its industry peers.
TOPS's Return On Equity of 3.49% is in line compared to the rest of the industry. TOPS outperforms 40.85% of its industry peers.
TOPS's Return On Invested Capital of 5.66% is in line compared to the rest of the industry. TOPS outperforms 48.36% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for TOPS is significantly below the industry average of 23.60%.
The 3 year average ROIC (5.65%) for TOPS is below the current ROIC(5.66%), indicating increased profibility in the last year.
| 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 has a Profit Margin (5.84%) which is comparable to the rest of the industry.
TOPS's Profit Margin has declined in the last couple of years.
TOPS has a Operating Margin of 32.40%. This is in the better half of the industry: TOPS outperforms 71.83% of its industry peers.
TOPS's Operating Margin has improved in the last couple of years.
The Gross Margin of TOPS (97.67%) is better 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 | 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.
Compared to 1 year ago, TOPS has about the same amount of shares outstanding.
Compared to 5 years ago, TOPS has more shares outstanding
TOPS has a worse debt/assets ratio than last year.
2.2 Solvency
TOPS has an Altman-Z score of -0.54. This is a bad value and indicates that TOPS is not financially healthy and even has some risk of bankruptcy.
With a Altman-Z score value of -0.54, TOPS is not doing good in the industry: 74.65% of the companies in the same industry are doing better.
TOPS has a debt to FCF ratio of 14.97. This is a negative value and a sign of low solvency as TOPS would need 14.97 years to pay back of all of its debts.
Looking at the Debt to FCF ratio, with a value of 14.97, TOPS is in line with its industry, outperforming 46.95% of the companies in the same industry.
TOPS has a Debt/Equity ratio of 1.70. This is a high value indicating a heavy dependency on external financing.
The Debt to Equity ratio of TOPS (1.70) is worse than 78.40% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.7 | ||
| Debt/FCF | 14.97 | ||
| Altman-Z | -0.54 |
ROIC/WACC0.79
WACC7.17%
2.3 Liquidity
TOPS has a Current 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.
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.
With a Quick ratio value of 0.68, TOPS is not doing good in the industry: 69.95% of the companies in the same industry are doing better.
| 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
Looking at the last year, TOPS shows a small growth in Revenue. The Revenue has grown by 3.89% in the last year.
The Revenue has been growing slightly by 5.44% on average over the past years.
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
A Price/Earnings ratio of 6.71 indicates a rather cheap valuation of TOPS.
83.10% of the companies in the same industry are more expensive than TOPS, based on the Price/Earnings ratio.
Compared to an average S&P500 Price/Earnings ratio of 26.31, TOPS is valued rather cheaply.
A Price/Forward Earnings ratio of 3.27 indicates a rather cheap valuation of TOPS.
97.18% of the companies in the same industry are more expensive than TOPS, based on the Price/Forward Earnings ratio.
The average S&P500 Price/Forward Earnings ratio is at 22.06. TOPS is valued rather cheaply when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 6.71 | ||
| Fwd PE | 3.27 |
4.2 Price Multiples
TOPS's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. TOPS is cheaper than 67.61% of the companies in the same industry.
Based on the Price/Free Cash Flow ratio, TOPS is valued cheaper than 97.18% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 1.95 | ||
| EV/EBITDA | 5.64 |
4.3 Compensation for Growth
The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
PEG (NY)0.04
PEG (5Y)N/A
EPS Next 2YN/A
EPS Next 3YN/A
5. Dividend
5.1 Amount
No dividends for TOPS!.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
7.31
-0.56 (-7.12%)
Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)
Earnings (Next)
Inst Owners6.38%
Inst Owner Change19.64%
Ins Owners9.65%
Ins Owner Change0%
Market Cap33.85M
Analysts82.86
Price Target29.58 (304.65%)
Short Float %3.01%
Short Ratio5.01
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 | 6.71 | ||
| Fwd PE | 3.27 | ||
| P/S | 0.39 | ||
| P/FCF | 1.95 | ||
| P/OCF | 1.95 | ||
| P/B | 0.23 | ||
| P/tB | 0.23 | ||
| EV/EBITDA | 5.64 |
EPS(TTM)1.09
EY14.91%
EPS(NY)2.23
Fwd EY30.56%
FCF(TTM)3.74
FCFY51.18%
OCF(TTM)3.74
OCFY51.18%
SpS18.6
BVpS31.19
TBVpS31.19
PEG (NY)0.04
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 | -0.54 |
F-Score6
WACC7.17%
ROIC/WACC0.79
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%