TOP SHIPS INC (TOPS) Fundamental Analysis & Valuation

NYSEARCA:TOPS • MHY8897Y2307

Current stock price

3.05 USD
+0.05 (+1.67%)
Last:

This TOPS fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

5

1. TOPS Profitability Analysis

1.1 Basic Checks

  • In the past year TOPS was profitable.
  • In the past year TOPS had a positive cash flow from operations.
  • The reported net income has been mixed in the past 5 years: TOPS reported negative net income in multiple years.
  • TOPS had a positive operating cash flow in each of the past 5 years.
TOPS Yearly Net Income VS EBIT VS OCF VS FCFTOPS Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 -50M -100M -150M

1.2 Ratios

  • The Return On Assets of TOPS (0.93%) is worse than 62.68% of its industry peers.
  • With a Return On Equity value of 3.46%, TOPS is not doing good in the industry: 60.29% of the companies in the same industry are doing better.
  • TOPS has a Return On Invested Capital of 7.06%. This is in the better half of the industry: TOPS outperforms 65.55% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for TOPS is significantly below the industry average of 22.60%.
  • The 3 year average ROIC (6.05%) for TOPS is below the current ROIC(7.06%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 0.93%
ROE 3.46%
ROIC 7.06%
ROA(3y)-0.92%
ROA(5y)-0.62%
ROE(3y)-1.75%
ROE(5y)-1%
ROIC(3y)6.05%
ROIC(5y)5.72%
TOPS Yearly ROA, ROE, ROICTOPS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 -10 -20

1.3 Margins

  • TOPS's Profit Margin of 3.84% is in line compared to the rest of the industry. TOPS outperforms 44.50% of its industry peers.
  • TOPS has a better Operating Margin (32.68%) than 77.99% of its industry peers.
  • In the last couple of years the Operating Margin of TOPS has grown nicely.
  • TOPS's Gross Margin of 96.89% is amongst the best of the industry. TOPS outperforms 99.04% of its industry peers.
  • In the last couple of years the Gross Margin of TOPS has remained more or less at the same level.
Industry RankSector Rank
OM 32.68%
PM (TTM) 3.84%
GM 96.89%
OM growth 3Y-6.73%
OM growth 5Y13.17%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-0.34%
GM growth 5Y0.04%
TOPS Yearly Profit, Operating, Gross MarginsTOPS Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 50

More info and screens

ROAROEROICOperating and Profit MarginShow most profitable peers

1

2. TOPS Health Analysis

2.1 Basic Checks

  • TOPS has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some 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.
  • The debt/assets ratio for TOPS is higher compared to a year ago.
TOPS Yearly Shares OutstandingTOPS Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1M 2M 3M 4M
TOPS Yearly Total Debt VS Total AssetsTOPS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 100M 200M 300M 400M

2.2 Solvency

  • Based on the Altman-Z score of -0.93, we must say that TOPS is in the distress zone and has some risk of bankruptcy.
  • TOPS has a worse Altman-Z score (-0.93) than 72.25% of its industry peers.
  • TOPS has a debt to FCF ratio of 12.65. This is a negative value and a sign of low solvency as TOPS would need 12.65 years to pay back of all of its debts.
  • With a Debt to FCF ratio value of 12.65, TOPS perfoms like the industry average, outperforming 51.67% of the companies in the same industry.
  • A Debt/Equity ratio of 2.30 is on the high side and indicates that TOPS has dependencies on debt financing.
  • TOPS's Debt to Equity ratio of 2.30 is on the low side compared to the rest of the industry. TOPS is outperformed by 80.86% of its industry peers.
Industry RankSector Rank
Debt/Equity 2.3
Debt/FCF 12.65
Altman-Z -0.93
ROIC/WACC1.09
WACC6.48%
TOPS Yearly LT Debt VS Equity VS FCFTOPS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 100M -100M 200M

2.3 Liquidity

  • TOPS has a Current Ratio of 0.61. 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's Current ratio of 0.61 is on the low side compared to the rest of the industry. TOPS is outperformed by 80.38% of its industry peers.
  • TOPS has a Quick Ratio of 0.61. 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 Quick ratio of 0.59. This is in the lower half of the industry: TOPS underperforms 72.73% of its industry peers.
Industry RankSector Rank
Current Ratio 0.61
Quick Ratio 0.59
TOPS Yearly Current Assets VS Current LiabilitesTOPS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20M 40M 60M 80M 100M

More info and screens

WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

1

3. TOPS Growth Analysis

3.1 Past

  • TOPS shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -38.70%.
  • TOPS shows a decrease in Revenue. In the last year, the revenue decreased by -6.63%.
  • Measured over the past years, TOPS shows a small growth in Revenue. The Revenue has been growing by 5.96% on average per year.
EPS 1Y (TTM)-38.7%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-244.66%
Revenue 1Y (TTM)-6.63%
Revenue growth 3Y-0.12%
Revenue growth 5Y5.96%
Sales Q2Q%-16.92%

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 YN/A
EPS Next 2YN/A
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next YearN/A
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.
TOPS Yearly Revenue VS EstimatesTOPS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20M 40M 60M 80M
TOPS Yearly EPS VS EstimatesTOPS Yearly EPS VS EstimatesYearly EPS VS Estimates 2019 2020 2021 2022 2023 2024 2025 0 -5K -10K -15K -20K

More info and screens

Find the best growth stocksShow best growing peers

5

4. TOPS Valuation Analysis

4.1 Price/Earnings Ratio

  • TOPS is valuated cheaply with a Price/Earnings ratio of 4.55.
  • Based on the Price/Earnings ratio, TOPS is valued cheaply inside the industry as 96.65% of the companies are valued more expensively.
  • The average S&P500 Price/Earnings ratio is at 27.87. TOPS is valued rather cheaply when compared to this.
Industry RankSector Rank
PE 4.55
Fwd PE N/A
TOPS Price Earnings VS Forward Price EarningsTOPS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 0 0 0 0

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, TOPS is valued a bit cheaper than the industry average as 78.95% of the companies are valued more expensively.
  • Compared to the rest of the industry, the Price/Free Cash Flow ratio of TOPS indicates a rather cheap valuation: TOPS is cheaper than 100.00% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 0.97
EV/EBITDA 5.51
TOPS Per share dataTOPS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15

4.3 Compensation for Growth

PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2YN/A
EPS Next 3YN/A

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

0

5. TOPS Dividend Analysis

5.1 Amount

  • TOPS does not give a dividend.
Industry RankSector Rank
Dividend Yield 0%

More info and screens

Find the best dividend stocksShow peers with best dividend

TOPS Fundamentals: All Metrics, Ratios and Statistics

TOP SHIPS INC

NYSEARCA:TOPS (4/17/2026, 8:04:00 PM)

3.05

+0.05 (+1.67%)

Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)04-01
Earnings (Next)N/A
Inst Owners1.42%
Inst Owner Change0%
Ins Owners8.12%
Ins Owner Change0%
Market Cap16.56M
Revenue(TTM)80.42M
Net Income(TTM)3.09M
Analysts82.86
Price TargetN/A
Short Float %3.05%
Short Ratio0.29
Dividend
Industry RankSector Rank
Dividend Yield 0%
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)N/A
EPS NY rev (3m)N/A
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)N/A
Revenue NY rev (3m)N/A
Valuation
Industry RankSector Rank
PE 4.55
Fwd PE N/A
P/S 0.21
P/FCF 0.97
P/OCF 0.63
P/B 0.19
P/tB 0.19
EV/EBITDA 5.51
EPS(TTM)0.67
EY21.97%
EPS(NY)N/A
Fwd EYN/A
FCF(TTM)3.15
FCFY103.38%
OCF(TTM)4.87
OCFY159.59%
SpS14.81
BVpS16.43
TBVpS16.43
PEG (NY)N/A
PEG (5Y)N/A
Graham Number15.7356 (415.92%)
Profitability
Industry RankSector Rank
ROA 0.93%
ROE 3.46%
ROCE 8.94%
ROIC 7.06%
ROICexc 7.59%
ROICexgc 7.59%
OM 32.68%
PM (TTM) 3.84%
GM 96.89%
FCFM 21.29%
ROA(3y)-0.92%
ROA(5y)-0.62%
ROE(3y)-1.75%
ROE(5y)-1%
ROIC(3y)6.05%
ROIC(5y)5.72%
ROICexc(3y)6.43%
ROICexc(5y)6.01%
ROICexgc(3y)6.43%
ROICexgc(5y)6.01%
ROCE(3y)7.66%
ROCE(5y)7.51%
ROICexgc growth 3Y7.17%
ROICexgc growth 5Y17.6%
ROICexc growth 3Y7.17%
ROICexc growth 5Y17.6%
OM growth 3Y-6.73%
OM growth 5Y13.17%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-0.34%
GM growth 5Y0.04%
F-Score4
Asset Turnover0.24
Health
Industry RankSector Rank
Debt/Equity 2.3
Debt/FCF 12.65
Debt/EBITDA 5.31
Cap/Depr 75.87%
Cap/Sales 11.58%
Interest Coverage 1.48
Cash Conversion 68.56%
Profit Quality 554.8%
Current Ratio 0.61
Quick Ratio 0.59
Altman-Z -0.93
F-Score4
WACC6.48%
ROIC/WACC1.09
Cap/Depr(3y)25.29%
Cap/Depr(5y)642.11%
Cap/Sales(3y)3.86%
Cap/Sales(5y)96.98%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-38.7%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-244.66%
EPS Next YN/A
EPS Next 2YN/A
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)-6.63%
Revenue growth 3Y-0.12%
Revenue growth 5Y5.96%
Sales Q2Q%-16.92%
Revenue Next YearN/A
Revenue Next 2YN/A
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y-5.82%
EBIT growth 3Y-6.84%
EBIT growth 5Y19.91%
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-1.16%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y52.59%
OCF growth 3Y-7.52%
OCF growth 5Y34.34%

TOP SHIPS INC / TOPS Fundamental Analysis FAQ

What is the ChartMill fundamental rating of TOP SHIPS INC (TOPS) stock?

ChartMill assigns a fundamental rating of 3 / 10 to TOPS.


Can you provide the valuation status for TOP SHIPS INC?

ChartMill assigns a valuation rating of 5 / 10 to TOP SHIPS INC (TOPS). This can be considered as Fairly Valued.


What is the profitability of TOPS stock?

TOP SHIPS INC (TOPS) has a profitability rating of 5 / 10.


What is the valuation of TOP SHIPS INC based on its PE and PB ratios?

The Price/Earnings (PE) ratio for TOP SHIPS INC (TOPS) is 4.55 and the Price/Book (PB) ratio is 0.19.


Is the dividend of TOP SHIPS INC sustainable?

The dividend rating of TOP SHIPS INC (TOPS) is 0 / 10 and the dividend payout ratio is 0%.