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TOPS

Top ShipsNasdaqCM:TOPS Stock Report

Market Cap

US$60.5m

7D

18.8%

1Y

43.4%

Updated

27 Sep, 2021

Data

Company Financials +
TOPS fundamental analysis
Snowflake Score
Valuation1/6
Future Growth4/6
Past Performance0/6
Financial Health1/6
Dividends0/6

TOPS Overview

Top Ships Inc. owns and operates tanker vessels worldwide.

Top Ships Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Top Ships
Historical stock prices
Current Share PriceUS$1.52
52 Week HighUS$1.00
52 Week LowUS$3.89
Beta0.077
1 Month Change21.60%
3 Month Change-6.17%
1 Year Change43.40%
3 Year Change-99.74%
5 Year Change-100.00%
Change since IPO-100.00%

Recent News & Updates

May 08
Returns On Capital Are Showing Encouraging Signs At Top Ships (NASDAQ:TOPS)

Returns On Capital Are Showing Encouraging Signs At Top Ships (NASDAQ:TOPS)

If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for...

Apr 27

Top Ships: Cheap For Good Reason With Dilution Likely To Resume Later This Year - Avoid

Photo by Suriyapong Thongsawang/iStock via Getty Images Note: I have covered Top Ships (NASDAQ:TOPS) previously, so investors should view this as an update to my earlier articles on the company. Eighteen months ago, I advised investors to avoid shares of Greece-based tanker operator Top Ships as I rightfully suspected the

Shareholder Returns

TOPSUS Oil and GasUS Market
7D18.8%3.9%0.1%
1Y43.4%72.7%35.3%

Return vs Industry: TOPS underperformed the US Oil and Gas industry which returned 72.7% over the past year.

Return vs Market: TOPS exceeded the US Market which returned 35.3% over the past year.

Price Volatility

Is TOPS's price volatile compared to industry and market?
TOPS volatility
TOPS Beta0.077
Industry Beta1.82
Market Beta1

Stable Share Price: TOPS is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 8% a week.

Volatility Over Time: TOPS's weekly volatility has decreased from 15% to 8% over the past year.

About the Company

FoundedEmployeesCEOWebsite
20001Evangelos Pistiolishttps://www.topships.org

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, 2020, it had a fleet with a total capacity of 672,396 deadweight tonnes (dwt) consisting of four 50,000 dwt product/chemical tankers and three 157,000 dwt tankers.

Top Ships Fundamentals Summary

How do Top Ships's earnings and revenue compare to its market cap?
TOPS fundamental statistics
Market CapUS$60.54m
Earnings (TTM)-US$20.05m
Revenue (TTM)US$52.94m

1.1x

P/S Ratio

-3.0x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
TOPS income statement (TTM)
RevenueUS$52.94m
Cost of RevenueUS$25.10m
Gross ProfitUS$27.84m
ExpensesUS$47.89m
Earnings-US$20.05m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)-0.50
Gross Margin52.59%
Net Profit Margin-37.87%
Debt/Equity Ratio124.4%

How did TOPS perform over the long term?

See historical performance and comparison

Valuation

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

0.54x

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 US 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 (0.5x) compared to the US Oil and Gas industry average (1.9x).


Future Growth

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

60.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: TOPS is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (2%).

Earnings vs Market: TOPS is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: TOPS's is expected to become profitable in the next 3 years.

Revenue vs Market: TOPS's revenue (18.9% per year) is forecast to grow faster than the US market (9.8% per year).

High Growth Revenue: TOPS's revenue (18.9% per year) is forecast to grow slower than 20% 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


Past Performance

How has Top Ships performed over the past 5 years?

-35.3%

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 35.3% 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 (-19.4%).


Return on Equity

High ROE: TOPS has a negative Return on Equity (-14.59%), as it is currently unprofitable.


Financial Health

How is Top Ships's financial position?


Financial Position Analysis

Short Term Liabilities: TOPS's short term assets ($35.7M) do not cover its short term liabilities ($53.1M).

Long Term Liabilities: TOPS's short term assets ($35.7M) do not cover its long term liabilities ($174.9M).


Debt to Equity History and Analysis

Debt Level: TOPS's debt to equity ratio (124.4%) is considered high.

Reducing Debt: TOPS's debt to equity ratio has reduced from 184.9% to 124.4% over the past 5 years.


Balance Sheet


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 24% each year


Dividend

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


Dividend Yield vs Market

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

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

14.8yrs

Average management tenure


CEO

Evangelos Pistiolis (48 yo)

17.17yrs

Tenure

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

Experienced Management: TOPS's management team is seasoned and experienced (14.8 years average tenure).


Board Members

Experienced Board: TOPS's board of directors are considered experienced (7.4 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 not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Top Ships Inc.'s 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$60.545m
  • Shares outstanding: 39.83m
  • Website: https://www.topships.org

Number of Employees


Location

  • Top Ships Inc.
  • 1 Vasilisis Sofias & Megalou Alexandro S
  • Marousi
  • 151 24
  • Greece

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/09/27 23:02
End of Day Share Price2021/09/27 00:00
Earnings2021/06/30
Annual Earnings2020/12/31


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.