TOP Ships Inc. TOPS
- Market cap
- $5.1M
- P/E
- 0.0×
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Target Price Range
Analyst price targets
Free account| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 28,080,001,024.00 | 288,000.00 | 82,800.00 | 3,660.00 | 228.00 | 194.40 | 12.48 | 5.51 | 5.30 | 4.45 |
Analyst estimates 2026–2028 Powerpack |
Low Price
|
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| 181,440,004,096.00 | 106,920,001,536.00 | 420,000.00 | 150,000.00 | 6,900.00 | 933.60 | 393.60 | 25.80 | 15.91 | 11.47 |
High Price
|
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| 132 | 155 | 174 | 269 | 136 | 146 | 170 | 146 | 170 | 86 |
Employees
|
|||
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 |
Revenue/Emp
|
|||
| 28 | 39 | 41 | 66 | 60 | 56 | 81 | 83 | 86 | 80 |
Revenue
|
|||
| 62.55% | 63.31% | 61.40% | 60.32% | 61.19% | 69.21% | 74.86% | 75.72% | 59.23% | 61.20% |
Gross Margin
|
|||
| 1 | (13) | (11) | (15) | (23) | 9 | 19 | 6 | 5 | 3 |
EBT
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| 3.70% | (33.90%) | (27.11%) | (22.35%) | (37.89%) | 15.29% | 23.49% | 7.31% | 5.84% | 3.84% |
EBT Margin
|
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| 1 | (13) | (11) | (15) | (23) | 9 | 19 | 6 | 5 | 3 |
Net Income
|
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| 5 | 17 | 12 | 15 | 20 | 16 | 24 | 28 | 26 | 26 |
Depreciation
|
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| 0.00 | 37.02 | 205,240.00 | 132,176.00 | 615.14 | 339.76 | 318.80 | 46.11 | 18.62 | 17.38 |
Revenue/Sh
|
|||
| (999,999,999.00) | (12.57) | (73,229.29) | (63,505.40) | (292.92) | 33.61 | (36.37) | 32.51 | 1.09 | 0.67 |
Earnings/Sh
|
|||
| 0.00 | 0.65 | 3,580.00 | 38,388.00 | 61.70 | 96.81 | 132.09 | 16.08 | 3.74 | 5.71 |
Cash Flow/Sh
|
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| 0.00 | (38.96) | (317,775.00) | (406,532.00) | 1,932.51 | (479.97) | (572.96) | 0.00 | 0.00 | 2.20 |
Capex/Sh
|
|||
| 0.00 | (38.30) | (314,195.00) | (368,144.00) | 1,994.21 | (383.16) | (440.87) | 16.08 | 3.74 | 7.92 |
Free CF/Sh
|
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| 0.00 | 100.88 | 521,405.00 | 175,348.00 | 1,232.90 | 561.92 | 437.44 | 77.52 | 31.22 | 19.28 |
Book Value/Sh
|
|||
| 0 | 1 | 0 | 0 | 0 | 0 | 0 | 2 | 5 | 5 |
Shares
|
|||
| 25.27 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
PE Ratio
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| 18,185,737,181.32 | 99,304.83 | 102.80 | 15.58 | 18.00 | 0.29 | 0.09 | 0.15 | 0.06 | 0.04 |
PS Ratio
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| 1,540,243,723.74 | 8,410.64 | 43.41 | 19.04 | 18.84 | 0.36 | 0.11 | 0.18 | 0.06 | 0.05 |
PB Ratio
|
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| 18,185,737,184.72 | 99,308.23 | 105.96 | 18.42 | 19.02 | 1.85 | 1.84 | 1.57 | 1.69 | 1.72 |
EV/Sales
|
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| (1,341,546,353.31) | (7,325.88) | (92.56) | (10.63) | (20.96) | (1.13) | (0.84) | (0.82) | (1.77) | (1.47) |
EV/FCF
|
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| 7 | 1 | 1 | 19 | 6 | 16 | 33 | 29 | 17 | 26 |
Op' Cash Flow
|
|||
| (73) | (41) | (64) | (203) | 189 | (80) | (145) | — | — | 10 |
Capex
|
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| (67) | (41) | (63) | (184) | 195 | (64) | (112) | 29 | 17 | 37 |
FCF
|
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| (15) | 3 | (32) | (25) | 20 | (32) | (9) | (3) | (10) | (16) |
Working Cap'
|
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| 85 | 104 | 141 | 326 | 105 | 151 | 234 | 240 | 259 | 217 |
Total Debt
|
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| 83 | 79 | 139 | 320 | 85 | 148 | 213 | 205 | 249 | 196 |
Net Debt
|
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| 47 | 107 | 104 | 88 | 121 | 93 | 111 | 139 | 144 | 89 |
Sh' Equity
|
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| (0.32%) | (7.37%) | (4.65%) | (8.81%) | (7.80%) | 1.73% | (2.30%) | (4.82%) | 1.14% | 0.82% |
ROA
|
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| 2.32% | 0.54% | (1.00%) | 2.49% | (0.54%) | 4.13% | 6.30% | 5.22% | 4.44% | 5.75% |
ROIC
|
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| (0.88%) | (17.55%) | (10.53%) | (32.29%) | (27.62%) | 5.04% | (9.01%) | (17.89%) | 3.55% | 2.64% |
ROE
|
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TOP Ships Inc. peers in Oil & Gas Midstream
| Company | Market cap | P/E | Compare |
|---|---|---|---|
| RBNE Robin Energy Ltd. | $3.1M | 0.0× | Compare |
| MARPS Marine Petroleum Trust | $8.8M | 13.3× | Compare |
| BPT BP Prudhoe Bay Royalty Trust | $10.7M | 0.0× | Compare |
| BANL CBL International Limited | $11.1M | — | Compare |
| Company | Market cap | P/E | Compare |
|---|---|---|---|
| TMDE TMD Energy Limited | $17.7M | — | Compare |
| NFE New Fortress Energy LLC | $36.9M | 0.0× | Compare |
| PXS Pyxis Tankers Inc. | $67.7M | 8.1× | Compare |
| MMLP Martin Midstream Partners L.P. | $87.3M | 0.0× | Compare |
TOP Ships Inc. (TOPS) key facts
- TOP Ships Inc. (TOPS) is an Oil & Gas Midstream company in the Energy sector, listed on NYSE American.
- TOP Ships Inc.’s revenue for fiscal 2025 (year ended December 2025) was $80.4 million, down 6.63% from fiscal 2024.
- Net income was $3.1 million, or $0.67 per share (basic), a net margin of 3.84%.
- As of September 25, 2026, TOPS traded at $0.68, a market capitalization of $5.1 million.
- Return on equity was 2.64% and debt-to-equity 3.40.
TOP Ships Inc. (TOPS) Latest News
29 Jul
TOP Ships Inc. acquires three high specification newbuilding MR tankers with potential gross revenue backlog of about $0.93 billion. Acquisition expands fleet and secures major revenue backlog with direct effects on operations and trajectory.
28 Jul
Rubico acquires third newbuilding MR tanker, lifting TOP Ships potential gross revenue backlog 24% to about $379 million. Fleet expansion plus 24% backlog growth to $379 million materially lifts future revenue visibility and fleet capacity.
27 Jul
TOP Ships Inc. management estimates net asset value at $359.2 million, a 24% increase from the prior reported NAV. 24% NAV rise to $359.2 million can lift near-term investor sentiment toward the company's valuation.
15 Jul
Rubico acquires an additional newbuilding MR tanker, increasing potential gross revenue backlog 33% to about $305 million. Fleet expansion via acquisition and 33% backlog growth to $305 million materially lifts future revenue visibility and earnings trajectory.
24 Jun
TOP Ships Inc. completed safe vessel exit from the Strait of Hormuz. Vessel values strengthened. Vessel safety and higher asset values support moderate gains in operations and balance sheet strength.
10 Mar
Top Ships Inc. (TOPS) announces management estimate of net asset value at $289 million. Management's $289 million NAV estimate underscores significant asset value, likely sparking investor interest and potential stock re-rating.
23 Feb
TOP Ships Inc. announces agreement to acquire nine ECO MR product tanker newbuildings, each with time charter employment, creating a potential gross revenue backlog of about $679 million. Acquiring nine new eco-efficient tankers with $679 million revenue backlog massively expands fleet capacity and secures long-term earnings for TOP Ships Inc.
6 Jan
TOP Ships Inc. has announced an amendment to a time charter agreement, resulting in a higher daily rate. This adjustment is expected to enhance the company's revenue stream and overall financial performance. The new terms reflect a positive shift in the company's operational strategy and market positioning. The amendment to the time charter at a higher rate is likely to significantly impact future revenue and investor sentiment.
2 Jan
TOP Ships Inc. (TOPS) experienced a significant decline in midday trading, with shares dropping by over 10%. This downturn is part of a broader trend affecting the shipping sector, influenced by various market dynamics and investor sentiment. The company's performance is being closely monitored as it navigates these challenges. The decline in share price indicates a moderately noticeable influence on market sentiment and financial performance.
31 Dec
Top Ships Inc. has announced the sale of a newbuilding mega yacht, which is expected to enhance its portfolio and financial position. The transaction reflects the company's strategic focus on expanding its operations in the luxury maritime sector. Details regarding the sale price and buyer have not been disclosed, but the move is seen as a positive step for the company's future growth. The sale of the mega yacht is expected to moderately influence the company's financial performance and market positioning.
28 Nov
TOP Ships Inc. has announced a letter of intent to acquire real estate assets in Dubai, marking a strategic move to diversify its portfolio beyond its core shipping operations. The acquisition aims to enhance the company's asset base and potentially generate additional revenue streams. Details regarding the specific assets and financial implications have not been disclosed, but the company is optimistic about the prospects this acquisition presents. The acquisition of real estate assets could moderately influence TOP Ships' financial performance and diversification strategy.
20 Nov
Top Ships Inc. has announced the extension of a time charter for one of its MR tankers. The new agreement is set to enhance the company's operational stability and revenue stream. This extension reflects the company's ongoing commitment to maintaining a strong presence in the maritime shipping sector. The charter extension is expected to provide moderate financial stability and influence operational performance.
17 Nov
Top Ships Inc. has successfully completed the refinancing of its tanker fleet, which is expected to enhance its financial stability and operational efficiency. The refinancing process involved securing new financing arrangements that will allow the company to optimize its capital structure and reduce debt-related costs. This strategic move is anticipated to support the company's growth initiatives and improve its competitive positioning in the maritime industry. The refinancing is a significant strategic move that is likely to enhance financial stability and operational efficiency.
31 Jul
TOP Ships Inc. has announced that the distribution date for the spin-off of Rubico Inc. will be August 1, 2025. This strategic move is part of the company's efforts to enhance shareholder value and streamline operations. The spin-off of Rubico Inc. is a significant strategic move that could alter TOP Ships' market positioning and investor sentiment.
26 Jun
TOP Ships Inc. announced the approval of Rubico Inc.'s application to list its common shares on the Nasdaq Capital Market. The SEC has declared effective Rubico's registration statement on Form 20-F related to its spin-off from TOP Ships. The distribution of Rubico shares to TOP Ships securityholders is expected in July 2025, with trading under the ticker 'RUBI' commencing shortly thereafter. The spin-off involves two vessels, the M/T Eco Malibu and M/T Eco West Coast, which will be transferred to Rubico. A detailed description of the spin-off is available in the registration statement filed with the SEC. The spin-off of Rubico and its listing on Nasdaq represents a significant strategic move that could alter TOP Ships' market positioning and investor sentiment.
5 Jun
TOP Ships Inc. has announced the ex-distribution date for its planned spin-off of Rubico, a new Nasdaq-listed Suezmax tanker company. This strategic move is aimed at enhancing shareholder value and optimizing the company's operational focus. The spin-off is expected to allow both TOP Ships and Rubico to pursue their respective growth strategies independently. The spin-off of Rubico is a significant strategic move that could alter TOP Ships' market positioning and investor sentiment.
4 Jun
TOP Ships Inc. plans to spin off its subsidiary Rubico Inc., which will become an independent publicly-traded company on the Nasdaq Capital Market. The spin-off will involve distributing 100% of Rubico's common shares to TOP Ships' shareholders, with a record date of June 16, 2025, and distribution expected around June 30, 2025. Rubico will initially own two Suezmax tanker vessels, the M/T Eco Malibu and M/T Eco West Coast. The spin-off is subject to regulatory approvals and may not occur as planned. Rubico also aims to raise $1.5 million through a private placement of its shares. The spin-off represents a significant strategic move that could alter TOP Ships' market positioning and investor sentiment.
25 Jul
TOP Ships Inc. extends time charter employment for two vessels at higher rates, generating $100 million in revenue. The extension of time charter at higher rates is expected to have a significant impact on the company's future revenue and performance.
2 May
TOP Ships Inc. commences time charter at very strong rate, 36% increase over previous charter. The commencement of a time charter at a significantly higher rate is a significant development that is expected to have a major impact on the company's future revenue and performance.
11 Apr
TOP Ships Inc. transferring listing from Nasdaq to NYSE American. The transfer to NYSE American may moderately influence the company's market performance and shareholder value.
3 Apr
Top Ships Inc. (TOPS) reports full year 2023 earnings with revenue up 2.8% but net loss widened by 144%. Significant impact likely on future and performance due to missed EPS expectations and warning signs.
7 Feb
TOP Ships Inc. refinances vessels and fully redeems Series F perpetual preferred shares held by related party. The refinancing agreements and redemption of preferred shares are significant strategic moves that could fundamentally alter the company's trajectory and financial performance.
17 Dec
Top Ships shows promising trends in return on capital employed, with a current ROCE of 8.7%. The article suggests that while Top Ships' improving ROCE is encouraging, the stock has still declined significantly over the past five years.
14 Dec
TOP Ships Inc. announces a share repurchase program of up to $4 million. The share repurchase program may moderately influence the company's financial performance and market sentiment.
12 Dec
TOP Ships Inc. announces increase in net asset value to $344 million and contracted revenue backlog of $400 million. The significant increase in net asset value and revenue backlog is expected to have a major impact on the company's future performance and market sentiment.
7 Dec
TOP Ships Inc. announces increase in shareholding by Pistiolis Family to 73% via full conversion of preferred shares and open-market purchases. CEO's significant increase in shareholding and commitment to the company is expected to have a significant impact on future performance and investor sentiment.
22 Nov
TOP Ships Inc. extends time charter employment for two VLCC tankers at increased rate. Extension of time charter contracts may moderately influence financial performance and competitive positioning.
3 Oct
Tide turning against ‘hyper-dilutive’ shipping stock sales. The potential impact of the article on TOP Ships Inc. future and market performance is significant due to the changing dynamics in stock sales.
30 Sep
Intrinsic value of Top Ships Inc. estimated at US$7.56 based on DCF model. Significant impact likely on future and performance due to potential valuation implications.
4 Aug
TOP Ships Inc. estimates Net Asset Value of $285 million, NAV per share $14.02, Diluted NAV per share $4.97. Significant impact likely on future performance due to the estimated Net Asset Value and per share values.