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Top Ships Inc.NYSEAM:TOPS Stock Report

Market Cap US$4.0m
Share Price
n/a
1Y-86.6%
7D-2.7%
1D-1.5%
Portfolio Value
​
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Top Ships Inc.

NYSEAM:TOPS Stock Report

Market Cap: US$4.0m

Top Ships (TOPS) Stock Overview

Owns and operates tanker vessels in Greece and internationally. More details

TOPS fundamental analysis
Snowflake Score
Valuation4/6
Future Growth0/6
Past Performance2/6
Financial Health0/6
Dividends0/6

Rewards

Trading at 94.2% below our estimate of its fair value

Risk Analysis

Does not have a meaningful market cap ($4M)

Interest payments are not well covered by earnings

Shareholders have been diluted in the past year

Profit margins (3.8%) are lower than last year (5.8%)


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Top Ships Inc. Competitors

Price History & Performance

Summary of share price highs, lows and changes for Top Ships
Historical stock prices
Current Share PriceUS$0.72
52 Week HighUS$7.40
52 Week LowUS$0.62
Beta2.05
1 Month Change-18.09%
3 Month Change-27.65%
1 Year Change-86.43%
3 Year Change-90.84%
5 Year Change-99.77%
Change since IPO-99.90%

Recent News & Updates

Recent updates

Analysis Article • Nov 16

Is Top Ships (NASDAQ:TOPS) Using Too Much Debt?

Warren Buffett famously said, 'Volatility is far from synonymous with risk.' When we think about how risky a company...
Analysis Article • Oct 05

Top Ships (NASDAQ:TOPS) Might Have The Makings Of A Multi-Bagger

If you're looking for a multi-bagger, there's a few things to keep an eye out for. In a perfect world, we'd like to see...
Analysis Article • Aug 11

Is Top Ships (NASDAQ:TOPS) A Risky Investment?

David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
Analysis Article • Aug 11

The Market Lifts Top Ships Inc. (NASDAQ:TOPS) Shares 26% But It Can Do More

Top Ships Inc. ( NASDAQ:TOPS ) shares have had a really impressive month, gaining 26% after a shaky period beforehand...
Analysis Article • Jun 28

Top Ships (NASDAQ:TOPS) Is Looking To Continue Growing Its Returns On Capital

If you're looking for a multi-bagger, there's a few things to keep an eye out for. Ideally, a business will show two...
Analysis Article • Oct 07

The Return Trends At Top Ships (NASDAQ:TOPS) Look Promising

If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for...
Seeking Alpha • Oct 06

TOP Ships stock dips on termination of ATM equity program

TOP Ships (NASDAQ:TOPS) has announced termination of an "at-the-market" equity offering program. It issued a notice to terminate the equity distribution agreement for the sale of its common shares up to an aggregate amount of $19.7M with Maxim Group. The company will make no further sales under the program. Net proceeds from sales under the program amounted to ~$2M. TOPS shares were down 11% shortly before 12.30PM ET
Seeking Alpha • Sep 28

TOP Ships reports 1H results

TOP Ships press release (NASDAQ:TOPS): 1H Net Income of $8.6M Revenue of $38.8M (+53.3% Y/Y). Adjusted EBITDA of $26.9M Shares +18% PM.
Seeking Alpha • Sep 21

TOP Ships gains 17% aftermarket on 1-for-20 reverse stock split

TOP Ships (NASDAQ:TOPS) gained 17% after hours on Wednesday after the firm said it will effect a 1-for-20 reverse stock split. The reverse stock split is expected to take effect, and TOPS shares will begin trading on a split-adjusted basis on Nasdaq Capital Market, as of market open on Sept. 23 under the existing ticker "TOPS". This will reduce the number of outstanding shares from ~56.7M shares to ~2.8M shares. No fractional shares will be issued in connection with the reverse split.
Analysis Article • Apr 28

Top Ships' (NASDAQ:TOPS) Solid Earnings May Rest On Weak Foundations

Top Ships Inc.'s ( NASDAQ:TOPS ) robust recent earnings didn't do much to move the stock. However the statutory profit...
Seeking Alpha • Mar 21

Shipping Is Hot, Top Ships Is Still A Casino Stock With No Value

Given the company's history of dilution and penchant for death spiral financing, we caution investors to steer clear of this security. We foolishly believed in the company in the 2014-2015 period until we were blatantly burned. A discussion of Net Asset Value and company fundamentals is irrelevant with a leadership team that benefits from increased scale through commissions, management fees, etc while shareholder dilution continue unabated. In short, fool me once, shame on you; fool me twice, shame on me.
Analysis Article • Jan 25

Top Ships' (NASDAQ:TOPS) Returns On Capital Are Heading Higher

What are the early trends we should look for to identify a stock that could multiply in value over the long term...
Analysis Article • Dec 02

Here's Why Top Ships (NASDAQ:TOPS) Is Weighed Down By Its Debt Load

Warren Buffett famously said, 'Volatility is far from synonymous with risk.' So it seems the smart money knows that...
Analysis Article • May 08

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...

Shareholder Returns

TOPSUS Oil and GasUS Market
7D-1.3%2.1%-0.9%
1Y-86.4%42.2%13.9%

Return vs Industry: TOPS underperformed the US Oil and Gas industry which returned 42.2% over the past year.

Return vs Market: TOPS underperformed the US Market which returned 13.9% over the past year.

Price Volatility

Is TOPS's price volatile compared to industry and market?
TOPS volatility
TOPS Average Weekly Movement10.2%
Oil and Gas Industry Average Movement5.7%
Market Average Movement6.9%
10% most volatile stocks in US Market15.3%
10% least volatile stocks in US Market2.9%

Stable Share Price: TOPS has not had significant price volatility in the past 3 months compared to the US market.

Volatility Over Time: TOPS's weekly volatility (10%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
2000n/aEvangelos Pistioliswww.topships.org

Top Ships Inc. owns and operates tanker vessels in Greece and internationally. The company transports crude oil, petroleum products, and bulk liquid chemicals. As of December 31, 2025, it had a fleet with a total capacity of 857,000 deadweight tonnes (dwt) consisting of one 50,000 dwt product/chemical tanker, one 157,000 dwt Suezmax tankers, two 300,000 dwt very large crude carriers, and two 50,000 dwt product tankers.

Top Ships Inc. Fundamentals Summary

How do Top Ships's earnings and revenue compare to its market cap?
TOPS fundamental statistics
Market capUS$3.99m
Earnings (TTM)US$3.09m
Revenue (TTM)US$80.42m
1.3x
P/E Ratio
0.0x
P/S Ratio

Is TOPS overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
TOPS income statement (TTM)
RevenueUS$80.42m
Cost of RevenueUS$30.87m
Gross ProfitUS$49.54m
Other ExpensesUS$46.46m
EarningsUS$3.09m

Last Reported Earnings

Dec 31, 2025

Next Earnings Date

n/a

Earnings per share (EPS)0.56
Gross Margin61.61%
Net Profit Margin3.84%
Debt/Equity Ratio242.9%

How did TOPS perform over the long term?

See historical performance and comparison

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/09/14 20:14
End of Day Share Price 2026/09/11 00:00
Earnings2025/12/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Top Ships Inc. is covered by 3 analysts. 0 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Glenn LoddenDNB Carnegie
Tate SullivanMaxim Group
Adam FleckMorningstar Inc.