NasdaqCM:TOPS

Stock Analysis Report

Executive Summary

Top Ships Inc. owns and operates tanker vessels worldwide.


Snowflake Analysis

Overvalued with weak fundamentals.


Similar Companies

Share Price & News

How has Top Ships's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: TOPS's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-22.1%

TOPS

-0.7%

US Oil and Gas

-1.1%

US Market


1 Year Return

-97.1%

TOPS

-18.9%

US Oil and Gas

17.9%

US Market

Return vs Industry: TOPS underperformed the US Oil and Gas industry which returned -18.9% over the past year.

Return vs Market: TOPS underperformed the US Market which returned 17.9% over the past year.


Shareholder returns

TOPSIndustryMarket
7 Day-22.1%-0.7%-1.1%
30 Day-26.8%-5.8%1.4%
90 Day-27.1%-7.6%6.9%
1 Year-97.1%-97.1%-15.7%-18.9%20.3%17.9%
3 Year-100.0%-100.0%-12.1%-20.4%47.8%38.3%
5 Year-100.0%-100.0%-21.3%-32.9%71.9%53.0%

Price Volatility Vs. Market

How volatile is Top Ships's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Top Ships undervalued compared to its fair value and its price relative to the market?

0.0082x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate TOPS's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate TOPS's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: TOPS is unprofitable, so we can't compare its PE Ratio to the Oil and Gas industry average.

PE vs Market: TOPS is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate TOPS's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: TOPS is good value based on its PB Ratio (0x) compared to the US Oil and Gas industry average (0.8x).


Next Steps

Future Growth

How is Top Ships forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

37.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: TOPS is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: TOPS is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: TOPS is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: TOPS's revenue is expected to decline over the next 3 years (-1.8% per year).

High Growth Revenue: TOPS's revenue is forecast to decline over the next 3 years (-1.8% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if TOPS's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Top Ships performed over the past 5 years?

-43.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: TOPS is currently unprofitable.

Growing Profit Margin: TOPS is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: TOPS is unprofitable, and losses have increased over the past 5 years at a rate of -43.4% per year.

Accelerating Growth: Unable to compare TOPS's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: TOPS is unprofitable, making it difficult to compare its past year earnings growth to the Oil and Gas industry (-13.3%).


Return on Equity

High ROE: TOPS has a negative Return on Equity (-4.07%), as it is currently unprofitable.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Top Ships's financial position?


Financial Position Analysis

Short Term Liabilities: TOPS's short term assets ($7.3M) do not cover its short term liabilities ($47.3M).

Long Term Liabilities: TOPS's short term assets ($7.3M) do not cover its long term liabilities ($249.6M).


Debt to Equity History and Analysis

Debt Level: TOPS's debt to equity ratio (211.1%) is considered high.

Reducing Debt: TOPS's debt to equity ratio has increased from 53.8% to 211.1% over the past 5 years.


Balance Sheet

Inventory Level: TOPS has a high level of physical assets or inventory.

Debt Coverage by Assets: TOPS's debt is not covered by short term assets (assets are 0x debt).


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: TOPS has less than a year of cash runway based on its current free cash flow.

Forecast Cash Runway: TOPS has less than a year of cash runway if free cash flow continues to reduce at historical rates of -16.1% each year


Next Steps

Dividend

What is Top Ships's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

companyn/amarketbottom25%1.4%markettop25%3.7%industryaverage4.6%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: Unable to evaluate TOPS's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate TOPS's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if TOPS's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if TOPS's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of TOPS's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

13.2yrs

Average management tenure


CEO

Evangelos Pistiolis (46yo)

15.6yrs

Tenure

0

Mr. Evangelos J. Pistiolis founded Top Ships Inc. in 2000 and has been its Chief Executive Officer, President and Director nce July 2004. Mr. Pistiolis's career in shipping started in 1992, when he was inv ...


Leadership Team

NamePositionTenureCompensationOwnership
Evangelos Pistiolis
Founder15.6yrsno data0.000010% $0.5
Alexandros Tsirikos
CFO & Executive Director11.3yrsno datano data
Vangelis Ikonomou
Chief Operating Officer0yrsno datano data
Konstantinos Patistas
Chief Technical Officer2.1yrsno datano data
Eirini Alexandropoulou
Secretary15.5yrsno datano data

13.2yrs

Average Tenure

46yo

Average Age

Experienced Management: TOPS's management team is seasoned and experienced (13.2 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Evangelos Pistiolis
Founder15.6yrsno data0.000010% $0.5
Alexandros Tsirikos
CFO & Executive Director11.3yrsno datano data
Stavros Emmanuel
Independent Chairman of the Board1.3yrsno datano data
Konstantinos Karelas
Independent Non-Executive Director5.8yrsno datano data
Paolo Javarone
Independent Non-Executive Director5.4yrsno datano data

5.8yrs

Average Tenure

46yo

Average Age

Experienced Board: TOPS's board of directors are considered experienced (5.8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have been substantially diluted in the past year, with total shares outstanding growing by 164.9%.


Top Shareholders

Company Information

Top Ships Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Top Ships Inc.
  • Ticker: TOPS
  • Exchange: NasdaqCM
  • Founded: 2000
  • Industry: Oil and Gas Storage and Transportation
  • Sector: Energy
  • Market Cap: US$5.135m
  • Shares outstanding: 10.29m
  • Website: https://www.topships.org

Number of Employees


Location

  • Top Ships Inc.
  • 1 Vasilisis Sofias and Megalou Alexandrou Street
  • Maroussi
  • 151 24
  • Greece

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
TOPSNasdaqCM (Nasdaq Capital Market)YesCommon StockUSUSDJul 2004
UERWDB (Deutsche Boerse AG)YesCommon StockDEEURJul 2004

Biography

Top 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, 2018, it had a fleet of two bareboat chartered-in 50,000 deadweight ton (dwt) product/chemical tankers vessels, the M/T Stenaweco Energy and the M/T Stenaweco Evolution; two 39,000 dwt product/chemical tankers vessels, the M/T Eco Fleet and the M/T Eco Revolution; six 50,000 dwt product/chemical tankers, the M/T Stenaweco Excellence, M/T Nord Valiant, M/T Stenaweco Elegance, the M/T Eco Palm Desert, the M/T Eco California, and the M/T Eco Marina Del Ray; two 50,000 dwt product/chemical tankers, the M/T Eco Holmby Hills and the M/T Palm Springs; and a 157,000 dwt Suezmax vessel M/T Eco Bel Air. The company was formerly known as Top Tankers Inc. and changed its name to Top Ships Inc. in December 2007. Top Ships Inc. was founded in 2000 and is based in Maroussi, Greece. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/23 01:19
End of Day Share Price2020/02/21 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.