TOP SHIPS INC (TOPS) Stock Fundamental Analysis
NYSEARCA:TOPS - NYSE Arca - MHY8897Y2307 - Common Stock - Currency: USD
Overall TOPS gets a fundamental rating of 3 out of 10. We evaluated TOPS against 211 industry peers in the Oil, Gas & Consumable Fuels industry. TOPS has a medium profitability rating, but doesn't score so well on its financial health evaluation. TOPS is valued quite cheap, but it does not seem to be growing.
1. Profitability
1.1 Basic Checks
TOPS had positive earnings in the past year.
TOPS had a positive operating cash flow in the past year.
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
With a Return On Assets value of 1.19%, TOPS is not doing good in the industry: 60.66% of the companies in the same industry are doing better.
Looking at the Return On Equity, with a value of 3.49%, TOPS is in line with its industry, outperforming 41.71% of the companies in the same industry.
TOPS has a Return On Invested Capital of 5.66%. This is comparable to the rest of the industry: TOPS outperforms 49.29% 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 23.79%.
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 in line with its industry peers.
In the last couple of years the Profit Margin of TOPS has declined.
TOPS's Operating Margin of 32.40% is fine compared to the rest of the industry. TOPS outperforms 72.99% of its industry peers.
In the last couple of years the Operating Margin of TOPS has grown nicely.
With an excellent Gross Margin value of 97.67%, TOPS belongs to the best of the industry, outperforming 100.00% of the companies in the same industry.
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
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so 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
Based on the Altman-Z score of -0.56, we must say that TOPS is in the distress zone and has some risk of bankruptcy.
The Altman-Z score of TOPS (-0.56) is worse than 73.46% of its industry peers.
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.
Looking at the Debt to FCF ratio, with a value of 14.97, TOPS is in line with its industry, outperforming 47.87% of the companies in the same industry.
A Debt/Equity ratio of 1.70 is on the high side and indicates that TOPS has dependencies on debt financing.
Looking at the Debt to Equity ratio, with a value of 1.70, TOPS is doing worse than 77.25% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.7 | ||
| Debt/FCF | 14.97 | ||
| Altman-Z | -0.56 |
ROIC/WACC0.8
WACC7.06%
2.3 Liquidity
A Current Ratio of 0.71 indicates that TOPS may have some problems paying its short term obligations.
The Current ratio of TOPS (0.71) is worse than 74.88% of its industry peers.
A Quick Ratio of 0.68 indicates that TOPS may have some problems paying its short term obligations.
TOPS has a Quick ratio of 0.68. This is in the lower half of the industry: TOPS underperforms 70.14% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.71 | ||
| Quick Ratio | 0.68 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an impressive 110.04% over the past year.
Measured over the past years, TOPS shows a very negative growth in Earnings Per Share. The EPS has been decreasing by -65.71% on average per year.
The Revenue has been growing slightly by 3.89% in the past 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
With a Price/Earnings ratio of 5.94, the valuation of TOPS can be described as very cheap.
TOPS's Price/Earnings ratio is rather cheap when compared to the industry. TOPS is cheaper than 88.15% of the companies in the same industry.
When comparing the Price/Earnings ratio of TOPS to the average of the S&P500 Index (27.30), we can say TOPS is valued rather cheaply.
TOPS is valuated cheaply with a Price/Forward Earnings ratio of 2.90.
98.10% of the companies in the same industry are more expensive than TOPS, based on the Price/Forward Earnings ratio.
TOPS's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 21.76.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 5.94 | ||
| Fwd PE | 2.9 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, TOPS is valued a bit cheaper than 68.72% of the companies in the same industry.
TOPS's Price/Free Cash Flow ratio is rather cheap when compared to the industry. TOPS is cheaper than 98.58% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 1.73 | ||
| EV/EBITDA | 5.49 |
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)0.03
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 |
6.48
+0.33 (+5.37%)
Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)
Earnings (Next)
Inst Owners6.6%
Inst Owner Change0%
Ins Owners9.53%
Ins Owner Change0%
Market Cap30.00M
Analysts82.86
Price Target29.58 (356.48%)
Short Float %16.18%
Short Ratio1.45
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 | 5.94 | ||
| Fwd PE | 2.9 | ||
| P/S | 0.35 | ||
| P/FCF | 1.73 | ||
| P/OCF | 1.73 | ||
| P/B | 0.21 | ||
| P/tB | 0.21 | ||
| EV/EBITDA | 5.49 |
EPS(TTM)1.09
EY16.82%
EPS(NY)2.23
Fwd EY34.47%
FCF(TTM)3.74
FCFY57.74%
OCF(TTM)3.74
OCFY57.74%
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 | -0.56 |
F-Score6
WACC7.06%
ROIC/WACC0.8
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%