Top Ships Inc.(TOPS)Earnings, Financials & Key Ratios
TOPS•NASDAQ
$2.20
$10M mkt cap·2.0× P/E·Price updated May 7, 2026
AboutTop Ships Inc. owns and operates tanker vessels worldwide. The company's medium range tanker vessels transport crude oil, petroleum products, and bulk liquid chemicals. As of December 31, 2020, it had a fleet with a total capacity of 1,435,000 deadweight tonnes (dwt) consisting of one 50,000 dwt product/chemical tanker, five 157,000 dwt Suezmax tankers, two 300,000 dwt very large crude carriers, and two 50,000 dwt product tankers. The company was formerly known as Top Tankers Inc. and changed its name to Top Ships Inc. in December 2007. Top Ships Inc. was incorporated in 2000 and is based in Maroussi, Greece.Show more
- Revenue$86M+3.8%
- EBITDA$51M+18.5%
- Net Income$5M-17.0%
- EPS (Diluted)1.09+108.8%
- Gross Margin43.74%-25.1%
- EBITDA Margin59.27%+14.1%
- Operating Margin32.4%-6.4%
- Net Margin5.84%-20.1%
- ROE3.07%-3.7%
- ROIC5.29%+3.2%
- Debt/Equity1.74+24.8%
- Interest Coverage1.28+2.1%
TOPS Key Insights
Top Ships Inc. (TOPS) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓FCF machine: 20.1% free cash flow margin
- ✓High quality earnings: Operating CF exceeds net income
- ✓Trading at only 0.1x book value
✗Weaknesses
- ✗Weak momentum: RS Rating 4 (bottom 4%)
- ✗Shares diluted 100.0% in last year
- ✗Trading more than 30% below 52-week high
- ✗Low asset turnover indicates capital-intensive operations
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
TOPS Price & Volume
Top Ships Inc. (TOPS) stock price & volume — 10-year historical chart
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TOPS Growth Metrics
Top Ships Inc. (TOPS) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years37.36%
5 Years5.44%
3 Years15.18%
TTM111.47%
Profit CAGR
10 Years5.68%
5 Years-
3 Years-16.4%
TTM112.59%
EPS CAGR
10 Years-74.66%
5 Years-
3 Years-64.64%
TTM75.57%
Return on Capital
10 Years3.67%
5 Years6.7%
3 Years7.83%
Last Year6.91%
TOPS Peer Comparison
Top Ships Inc. (TOPS) competitors in Oil and Product Tankers — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 SBLK | 3.09B | 26.81 | 36.73 | -17.62% | 8.07% | 3.44% | 0.44 | |
 SHIP | 342.26M | 16.21 | 16.05 | -5.59% | 9.74% | 5.29% | 1.03 | |
 CTRM | 78.27M | 2.02 | 2.32 | -32.07% | -65.41% | -8.02% | 0.18 | |
 PSHG | 70.96M | 1.81 | 1.69 | -19.73% | 65.4% | 16.48% | 0.17 | |
 TNK | 2.83B | 81.27 | 8.05 | -22.58% | 36.9% | 17.18% | 0.03 | |
 INSW | 4.46B | 90.18 | 14.48 | -11.38% | 80.76% | 27.13% | 0.29 | |
 ASC | 769.54M | 18.86 | 21.43 | -23.56% | 13.22% | 6.37% | 0.20 | |
 STNG | 4.38B | 84.69 | 12.05 | -24.58% | 48.44% | 15.85% | 0.19 |
Compare TOPS vs Peers
Top Ships Inc. (TOPS) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
TOPS Income Statement
Top Ships Inc. (TOPS) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Dec'16 | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales/Revenue | 28.43M | 39.36M | 41.05M | 66.09M | 60.22M | 56.37M | 80.66M | 82.95M | 86.13M | 123.28M |
| Revenue Growth % | 117.46% | 38.44% | 4.28% | 61% | -8.88% | -6.4% | 43.09% | 2.84% | 3.83% | 111.47% |
| Cost of Goods Sold | 21.99M | 28.13M | 29.41M | 37.44M | 35.35M | 35.87M | 44.41M | 34.48M | 48.45M | 49.92M |
| COGS % of Revenue | 77.35% | 71.45% | 71.66% | 56.64% | 58.71% | 63.63% | 55.05% | 41.57% | 56.26% | - |
| Gross Profit | 6.44M▲ 0% | 11.24M▲ 74.5% | 11.63M▲ 3.5% | 28.65M▲ 146.3% | 24.87M▼ 13.2% | 20.5M▼ 17.6% | 36.25M▲ 76.8% | 48.46M▲ 33.7% | 37.68M▼ 22.3% | 73.35M▲ 0% |
| Gross Margin % | 22.65% | 28.55% | 28.34% | 43.36% | 41.29% | 36.37% | 44.95% | 58.43% | 43.74% | 59.5% |
| Gross Profit Growth % | 694.2% | 74.46% | 3.53% | 146.29% | -13.21% | -17.56% | 76.83% | 33.69% | -22.26% | - |
| Operating Expenses | 1.59M | 9.62M | 15.52M | 12.41M | 14.31M | 4.54M | 3.71M | 19.74M | 9.77M | 28.06M |
| OpEx % of Revenue | 5.6% | 24.44% | 37.82% | 18.77% | 23.76% | 8.05% | 4.6% | 23.79% | 11.35% | - |
| Selling, General & Admin | 2.91M | 5.8M | 15.52M | 12.41M | 9.51M | 1.94M | 1.62M | 19.74M | 7.51M | 21.59M |
| SG&A % of Revenue | 10.22% | 14.75% | 37.82% | 18.77% | 15.79% | 3.45% | 2% | 23.79% | 8.71% | - |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | -1.31M | 3.82M | 0 | 0 | 4.8M | 2.6M | 2.09M | 0 | 2.27M | 2M |
| Operating Income | 4.85M▲ 0% | 1.62M▼ 66.7% | -3.89M▼ 340.7% | 16.88M▲ 533.9% | 11.07M▼ 34.4% | 15.96M▲ 44.1% | 32.62M▲ 104.4% | 28.73M▼ 11.9% | 27.9M▼ 2.9% | 45M▲ 0% |
| Operating Margin % | 17.05% | 4.11% | -9.47% | 25.53% | 18.39% | 28.32% | 40.44% | 34.63% | 32.4% | 36.5% |
| Operating Income Growth % | 211.83% | -66.67% | -340.66% | 533.92% | -34.38% | 44.13% | 104.37% | -11.93% | -2.86% | - |
| EBITDA | 8.44M | 7.48M | 2.87M | 29.32M | 24.28M | 23.64M | 45.91M | 43.08M | 51.05M | 65.99M |
| EBITDA Margin % | 29.67% | 19% | 7% | 44.36% | 40.32% | 41.95% | 56.92% | 51.93% | 59.27% | 53.53% |
| EBITDA Growth % | 338.31% | -11.33% | -61.58% | 920.08% | -17.17% | -2.63% | 94.17% | -6.18% | 18.51% | 152.77% |
| D&A (Non-Cash Add-back) | 3.59M | 5.86M | 6.76M | 12.44M | 13.21M | 7.68M | 13.29M | 14.35M | 23.15M | 21M |
| EBIT | 3.88M | 1.14M | -1.73M | 3.02M | -2.1M | 15.96M | 30.66M | 27.75M | 26.9M | 44.02M |
| Net Interest Income | -3.09M | -15.78M | -9.53M | -17.94M | -20.92M | -7M | -14.32M | -22.64M | -23.03M | -15.55M |
| Interest Income | 0 | 13K | 130K | 133K | 34K | 6.98M | 48K | 346K | 467K | 7.44M |
| Interest Expense | 3.09M | 15.79M | 9.66M | 17.8M | 20.72M | 8.2M | 14.37M | 22.99M | 21.87M | 22.99M |
| Other Income/Expense | -3.8M | -14.99M | -7.24M | -31.65M | -33.89M | -7.34M | -13.67M | -22.66M | -22.87M | -29.46M |
| Pretax Income | 1.05M▲ 0% | -13.35M▼ 1368.5% | -11.42M▲ 14.4% | -14.77M▼ 29.4% | -22.82M▼ 54.5% | 8.62M▲ 137.8% | 18.95M▲ 119.9% | 6.07M▼ 68.0% | 5.03M▼ 17.0% | 15.54M▲ 0% |
| Pretax Margin % | 3.7% | -33.9% | -27.82% | -22.35% | -37.89% | 15.29% | 23.49% | 7.31% | 5.84% | 12.61% |
| Income Tax | 0 | 11.08M | 1.87M | 0 | 0 | 0 | 0 | 0 | 0 | 14.07M |
| Effective Tax Rate % | 0% | -83.03% | -16.37% | 0% | 0% | 0% | 0% | 0% | 0% | 90.52% |
| Net Income | 1.05M▲ 0% | -13.38M▼ 1371.6% | -11.13M▲ 16.8% | -14.77M▼ 32.7% | -22.82M▼ 54.5% | 8.62M▲ 137.8% | 18.95M▲ 119.9% | 6.07M▼ 68.0% | 5.03M▼ 17.0% | 1.47M▲ 0% |
| Net Margin % | 3.7% | -33.98% | -27.12% | -22.35% | -37.89% | 15.29% | 23.49% | 7.31% | 5.84% | 1.19% |
| Net Income Growth % | 112.37% | -1371.58% | 16.77% | -32.68% | -54.46% | 137.76% | 119.92% | -67.99% | -17.01% | 112.59% |
| Net Income (Continuing) | 1.05M | -13.37M | -11.13M | -14.77M | -22.82M | 8.62M | 18.95M | 6.07M | 5.03M | 1.47M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 1.19M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -351000.00▲ 0% | -999999.00▼ 184.9% | -754095.18▲ 24.6% | -63502.00▲ 91.6% | -293.70▲ 99.5% | 24.65▲ 108.4% | -36.34▼ 247.4% | -12.44▲ 65.8% | 1.09▲ 108.8% | 0.82▲ 0% |
| EPS Growth % | 97.73% | -4211.11% | 95.02% | 91.58% | 99.54% | 108.39% | -247.42% | 65.77% | 108.76% | 75.57% |
| EPS (Basic) | -351000.00 | -999999.00 | -754095.18 | -63502.00 | -293.70 | 32.51 | -36.34 | -12.44 | 1.09 | - |
| Diluted Shares Outstanding | 0 | 74 | 15 | 488 | 97.99K | 218.95K | 252.81K | 1.8M | 4.63M | 1.8M |
| Basic Shares Outstanding | 0 | 74 | 15 | 488 | 97.99K | 165.97K | 252.81K | 1.8M | 4.63M | 1.8M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - |
TOPS Balance Sheet
Top Ships Inc. (TOPS) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'16 | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Total Current Assets | 4.54M | 29.05M | 5.29M | 50.74M | 45.09M | 75.33M | 22.89M | 38.73M | 23.44M | 38.73M |
| Cash & Short-Term Investments | 127K | 24.08M | 57K | 4.49M | 19.33M | 2.37M | 20.54M | 35.96M | 7.63M | 35.96M |
| Cash Only | 127K | 24.08M | 57K | 4.49M | 19.33M | 2.37M | 20.54M | 35.96M | 7.63M | 35.96M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 169K | 773K | 1.23M | 642K | 0 | 76K | 8K | 317K | 1.11M | 317K |
| Days Sales Outstanding | 2.17 | 7.17 | 10.96 | 3.55 | - | 0.49 | 0.04 | 1.39 | 4.72 | 0.92 |
| Inventory | 583K | 645K | 587K | 848K | 514K | 671K | 1.03M | 915K | 983K | 915K |
| Days Inventory Outstanding | 9.68 | 8.37 | 7.28 | 8.27 | 5.31 | 6.83 | 8.43 | 9.68 | 7.41 | 7.19 |
| Other Current Assets | 1.26M | 1.62M | 1.76M | 44.13M | 24.34M | 71.64M | 0 | 1.54M | 11.71M | 1.54M |
| Total Non-Current Assets | 143.19M | 191.39M | 253.2M | 394.15M | 247.95M | 255.45M | 444.79M | 420.46M | 399.33M | 420.46M |
| Property, Plant & Equipment | 126.17M | 162.73M | 220.05M | 366.84M | 213.72M | 224.98M | 417.77M | 394.69M | 361.88M | 394.69M |
| Fixed Asset Turnover | 0.23x | 0.24x | 0.19x | 0.18x | 0.28x | 0.25x | 0.19x | 0.21x | 0.24x | 0.30x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 300K | 17.74M | 22.06M | 19.31M | 28.23M | 24.48M | 22.17M | 23.64M | 8.05M | 89.64M |
| Other Non-Current Assets | 16.72M | 10.92M | 11.09M | 8M | 6M | 6M | 4.85M | 2.13M | 29.4M | 18.98M |
| Total Assets | 143.32M▲ 0% | 220.45M▲ 53.8% | 258.49M▲ 17.3% | 444.89M▲ 72.1% | 293.03M▼ 34.1% | 330.79M▲ 12.9% | 469.34M▲ 41.9% | 459.19M▼ 2.2% | 422.77M▼ 7.9% | 459.19M▲ 0% |
| Asset Turnover | 0.20x | 0.18x | 0.16x | 0.15x | 0.21x | 0.17x | 0.17x | 0.18x | 0.20x | 0.27x |
| Asset Growth % | 90.25% | 53.82% | 17.26% | 72.11% | -34.13% | 12.88% | 41.88% | -2.16% | -7.93% | 68.23% |
| Total Current Liabilities | 20.03M | 25.58M | 36.82M | 75.42M | 25.41M | 107.09M | 32.23M | 41.37M | 33.19M | 41.37M |
| Accounts Payable | 1.9M | 2.8M | 4.1M | 4.46M | 2.54M | 2.31M | 1.95M | 1.36M | 1.82M | 1.36M |
| Days Payables Outstanding | 31.57 | 36.32 | 50.85 | 43.49 | 26.26 | 23.49 | 16.05 | 14.35 | 13.72 | 13.54 |
| Short-Term Debt | 12.08M | 19.69M | 23.63M | 46.88M | 5.32M | 60.41M | 12.34M | 12.42M | 0 | 12.42M |
| Deferred Revenue (Current) | 1.98M | 986K | 7.18M | 3.34M | 2.07M | 3.66M | 7.03M | 6.62M | 6.65M | 24.85M |
| Other Current Liabilities | 0 | 0 | -5.26M | 113K | 66K | 0 | 0 | 5M | 14.2M | 5M |
| Current Ratio | 0.23x | 1.14x | 0.14x | 0.67x | 1.77x | 0.70x | 0.71x | 0.94x | 0.71x | 0.71x |
| Quick Ratio | 0.20x | 1.11x | 0.13x | 0.66x | 1.75x | 0.70x | 0.68x | 0.91x | 0.68x | 0.68x |
| Cash Conversion Cycle | -19.72 | -20.79 | -32.61 | -31.67 | - | -16.17 | -7.58 | -3.27 | -1.6 | -5.43 |
| Total Non-Current Liabilities | 76.02M | 87.59M | 117.39M | 263.72M | 133.4M | 114.34M | 240.08M | 234.44M | 245.16M | 234.44M |
| Long-Term Debt | 72.46M | 84.26M | 117.03M | 262.12M | 99.3M | 90.16M | 224.64M | 228.08M | 245.06M | 228.08M |
| Capital Lease Obligations | 0 | 0 | 0 | 0 | 33.8M | 23.95M | 15.34M | 6.36M | 0 | 52.18M |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 3.56M | 3.33M | 359K | 1.59M | 300K | 225K | 100K | 0 | 0 | 325K |
| Total Liabilities | 96.06M | 113.17M | 154.21M | 339.13M | 158.81M | 237.57M | 272.31M | 275.81M | 278.35M | 275.81M |
| Total Debt | 84.54M | 103.95M | 140.66M | 309.01M | 147.71M | 184.33M | 260.93M | 255.84M | 251.41M | 255.84M |
| Net Debt | 84.41M | 79.87M | 140.6M | 304.51M | 128.38M | 181.96M | 258.07M | 219.88M | 243.78M | 219.88M |
| Debt / Equity | 1.79x | 0.97x | 1.35x | 2.92x | 1.10x | 1.98x | 1.32x | 1.40x | 1.74x | 1.74x |
| Debt / EBITDA | 10.02x | 13.90x | 48.94x | 10.54x | 6.08x | 7.80x | 5.68x | 5.94x | 4.92x | 3.88x |
| Net Debt / EBITDA | 10.01x | 10.68x | 48.92x | 10.39x | 5.29x | 7.70x | 5.62x | 5.10x | 4.78x | 4.78x |
| Interest Coverage | 1.57x | 0.10x | -0.40x | 0.95x | 0.53x | 1.95x | 2.27x | 1.25x | 1.28x | 1.91x |
| Total Equity | 47.26M▲ 0% | 107.27M▲ 127.0% | 104.28M▼ 2.8% | 105.76M▲ 1.4% | 134.22M▲ 26.9% | 93.22M▼ 30.5% | 197.02M▲ 111.3% | 183.38M▼ 6.9% | 144.42M▼ 21.2% | 183.38M▲ 0% |
| Equity Growth % | 38.38% | 126.98% | -2.79% | 1.42% | 26.91% | -30.54% | 111.35% | -6.92% | -21.25% | 154.23% |
| Book Value per Share | 8.31 | 999999.00 | 999999.00 | 216744.18 | 1369.73 | 425.77 | 779.32 | 101.95 | 31.22 | 101.95 |
| Total Shareholders' Equity | 47.26M | 106.09M | 104.28M | 105.76M | 134.22M | 93.22M | 197.02M | 183.38M | 144.42M | 183.38M |
| Common Stock | 57K | 89K | 230K | 87K | 398K | 398K | 103K | 46K | 46K | 46K |
| Retained Earnings | -283.24M | -296.64M | -307.78M | -322.55M | -345.37M | -336.75M | -317.81M | -311.74M | -306.71M | -311.74M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -1.74M | 0 | 0 | -1.36M | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 1.19M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
TOPS Cash Flow Statement
Top Ships Inc. (TOPS) cash flow — operating, investing & free cash flow history
| Line item | Dec'16 | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | 6.7M | 695K | 716K | 19.19M | 6.04M | 16.06M | 33.42M | 28.93M | 17.32M | 17.32M |
| Operating CF Margin % | 23.58% | 1.77% | 1.74% | 29.04% | 10.03% | 28.49% | 41.43% | 34.88% | 20.11% | - |
| Operating CF Growth % | 583.35% | -89.63% | 3.02% | 2580.73% | -68.53% | 165.91% | 108.08% | -13.42% | -40.13% | 389.4% |
| Net Income | 1.05M | -13.37M | -11.13M | -14.77M | -22.82M | 8.62M | 18.95M | 6.07M | 5.03M | 1.47M |
| Depreciation & Amortization | 3.59M | 5.86M | 6.76M | 12.44M | 13.21M | 15.63M | 21.86M | 23.58M | 23.15M | 34.51M |
| Stock-Based Compensation | 239K | -25K | -34K | -34K | -34K | -34K | -16K | 0 | 0 | -8K |
| Deferred Taxes | 704K | -148K | -2.11M | 13.22M | 12.47M | 1.87M | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | -1.4M | 9.61M | 5.29M | 3.61M | 6.19M | 840K | 2.43M | 4.74M | 2.84M | 7.6M |
| Working Capital Changes | 2.52M | -1.23M | 1.94M | 4.73M | -2.97M | -10.86M | -9.81M | -5.46M | -13.7M | -12.01M |
| Change in Receivables | 88K | -602K | -194K | 173K | 642K | -76K | 68K | -309K | -3.2M | -275K |
| Change in Inventory | -181K | -62K | 58K | -385K | 334K | -157K | -355K | 111K | -68K | -66.5K |
| Change in Payables | 954K | -207K | 695K | 1.46M | -2.08M | -123K | -82K | -503K | 564K | -503K |
| Cash from Investing | -77.07M | -59.07M | -68.43M | -203.27M | 181.29M | -76.65M | -142.66M | 2.52M | -12.4M | -68.81M |
| Capital Expenditures | -73.38M | -41.43M | -63.55M | -203.23M | -120.82M | -115.51M | -216.71M | 0 | 0 | -108.36M |
| CapEx % of Revenue | 258.09% | 105.25% | 154.83% | 307.51% | 200.63% | 204.93% | 268.69% | - | - | - |
| Acquisitions | 29K | -17.64M | -3.68M | 0 | -7.9M | 2.98M | 2.3M | 2.52M | 11.6M | 2.52M |
| Investments | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 0 | 17.64M | 0 | -36K | 317.92M | 35.89M | 71.75M | -2.52M | -24M | 34.51M |
| Cash from Financing | 67.83M | 83.39M | 44.76M | 189.68M | -177.28M | 43.63M | 127.41M | -16.04M | -33.25M | 47.66M |
| Debt Issued (Net) | 60.53M | 80.01M | 61.16M | 188.98M | -209.42M | 46.49M | 87.31M | 5.62M | 19.01M | 5.62M |
| Equity Issued (Net) | 1000K | 1000K | 1000K | 1000K | 1000K | 0 | 1000K | -1000K | -1000K | -1000K |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | -1.78M | -13.36M | -6.01M | 0 | -12.69M |
| Share Repurchases | 0 | 0 | 0 | -14.3M | -24.57M | 0 | -15K | 0 | -43.92M | -7.5K |
| Other Financing | 5.29M | -13.84M | -22.18M | -3.89M | -72.95M | -1.08M | -681K | -2.92M | -8.34M | 67.47M |
| Net Change in Cash | -2.54M▲ 0% | 25.02M▲ 1084.6% | -22.95M▼ 191.7% | 5.61M▲ 124.4% | 10.06M▲ 79.3% | -16.96M▼ 268.6% | 18.17M▲ 207.2% | 15.41M▼ 15.2% | -28.33M▼ 283.8% | -14.19M▲ 0% |
| Free Cash Flow | -66.68M▲ 0% | -40.73M▲ 38.9% | -62.84M▼ 54.3% | -184.04M▼ 192.9% | -114.78M▲ 37.6% | -99.45M▲ 13.4% | -183.29M▼ 84.3% | 28.93M▲ 115.8% | 17.32M▼ 40.1% | -62.71M▲ 0% |
| FCF Margin % | -234.51% | -103.48% | -153.09% | -278.47% | -190.6% | -176.44% | -227.26% | 34.88% | 20.11% | -50.87% |
| FCF Growth % | -21.68% | 38.91% | -54.27% | -192.87% | 37.63% | 13.36% | -84.3% | 115.78% | -40.13% | 62.31% |
| FCF per Share | -11.72 | -550445.95 | -999999.00 | -377173.45 | -1171.39 | -454.22 | -725.02 | 16.08 | 3.74 | 3.74 |
| FCF Conversion (FCF/Net Income) | 6.37x | -0.05x | -0.06x | -1.30x | -0.26x | 1.86x | 1.76x | 4.77x | 3.44x | -42.59x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 19.33M | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
TOPS Key Ratios
Top Ships Inc. (TOPS) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity (ROE) | 2.58% | -17.31% | -10.53% | -14.07% | -19.02% | 7.58% | 13.06% | 3.19% | 3.07% | 0.8% |
| Return on Invested Capital (ROIC) | 3.88% | 0.76% | -1.35% | 3.86% | 2.47% | 4.45% | 6.87% | 5.13% | 5.29% | 5.29% |
| Gross Margin | 22.65% | 28.55% | 28.34% | 43.36% | 41.29% | 36.37% | 44.95% | 58.43% | 43.74% | 59.5% |
| Net Margin | 3.7% | -33.98% | -27.12% | -22.35% | -37.89% | 15.29% | 23.49% | 7.31% | 5.84% | 1.19% |
| Debt / Equity | 1.79x | 0.97x | 1.35x | 2.92x | 1.10x | 1.98x | 1.32x | 1.40x | 1.74x | 1.74x |
| Interest Coverage | 1.57x | 0.10x | -0.40x | 0.95x | 0.53x | 1.95x | 2.27x | 1.25x | 1.28x | 1.91x |
| FCF Conversion | 6.37x | -0.05x | -0.06x | -1.30x | -0.26x | 1.86x | 1.76x | 4.77x | 3.44x | -42.59x |
| Revenue Growth | 117.46% | 38.44% | 4.28% | 61% | -8.88% | -6.4% | 43.09% | 2.84% | 3.83% | 111.47% |
TOPS Frequently Asked Questions
Top Ships Inc. (TOPS) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
Top Ships Inc. (TOPS) reported $123.3M in revenue for fiscal year 2024. This represents a 979% increase from $11.4M in 2002.
Top Ships Inc. (TOPS) grew revenue by 3.8% over the past year. Growth has been modest.
Yes, Top Ships Inc. (TOPS) is profitable, generating $1.5M in net income for fiscal year 2024 (5.8% net margin).
Dividend & Returns
Top Ships Inc. (TOPS) has a return on equity (ROE) of 3.1%. This is below average, suggesting room for improvement.
Top Ships Inc. (TOPS) had negative free cash flow of $62.7M in fiscal year 2024, likely due to heavy capital investments.
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Top Ships Inc. (TOPS) financial analysis — history, returns, DCA and operating performance tools
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