Top Ships Balance Sheet Health
Financial Health criteria checks 2/6
Top Ships has a total shareholder equity of $183.4M and total debt of $240.5M, which brings its debt-to-equity ratio to 131.1%. Its total assets and total liabilities are $459.2M and $275.8M respectively. Top Ships's EBIT is $28.7M making its interest coverage ratio 1.5. It has cash and short-term investments of $36.0M.
Key information
131.1%
Debt to equity ratio
US$240.50m
Debt
| Interest coverage ratio | 1.5x |
| Cash | US$35.96m |
| Equity | US$183.38m |
| Total liabilities | US$275.81m |
| Total assets | US$459.19m |
Recent financial health updates
Is Top Ships (NASDAQ:TOPS) Using Too Much Debt?
Nov 16
Is Top Ships (NASDAQ:TOPS) A Risky Investment?
Aug 11Recent updates
Is Top Ships (NASDAQ:TOPS) Using Too Much Debt?
Nov 16Top Ships (NASDAQ:TOPS) Might Have The Makings Of A Multi-Bagger
Oct 05Is Top Ships (NASDAQ:TOPS) A Risky Investment?
Aug 11The Market Lifts Top Ships Inc. (NASDAQ:TOPS) Shares 26% But It Can Do More
Aug 11Top Ships (NASDAQ:TOPS) Is Looking To Continue Growing Its Returns On Capital
Jun 28The Return Trends At Top Ships (NASDAQ:TOPS) Look Promising
Oct 07TOP Ships stock dips on termination of ATM equity program
Oct 06TOP Ships reports 1H results
Sep 28TOP Ships gains 17% aftermarket on 1-for-20 reverse stock split
Sep 21Top Ships' (NASDAQ:TOPS) Solid Earnings May Rest On Weak Foundations
Apr 28Shipping Is Hot, Top Ships Is Still A Casino Stock With No Value
Mar 21Top Ships' (NASDAQ:TOPS) Returns On Capital Are Heading Higher
Jan 25Here's Why Top Ships (NASDAQ:TOPS) Is Weighed Down By Its Debt Load
Dec 02Returns On Capital Are Showing Encouraging Signs At Top Ships (NASDAQ:TOPS)
May 08Top Ships: Cheap For Good Reason With Dilution Likely To Resume Later This Year - Avoid
Apr 27Financial Position Analysis
Short Term Liabilities: TOPS's short term assets ($38.7M) do not cover its short term liabilities ($41.4M).
Long Term Liabilities: TOPS's short term assets ($38.7M) do not cover its long term liabilities ($234.4M).
Debt to Equity History and Analysis
Debt Level: TOPS's net debt to equity ratio (111.5%) is considered high.
Reducing Debt: TOPS's debt to equity ratio has increased from 122.4% to 131.1% 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: Whilst unprofitable TOPS has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.
Forecast Cash Runway: TOPS is unprofitable but has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 1.8% per year.