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Top Ships (TOPS) AI Stock Analysis
Top Ships
(NYSE MKT:TOPS)
The score is held back primarily by financial risk (high leverage vs. equity and volatile earnings/revenue) and a weak longer-term technical trend (price far below 100/200-day averages). These negatives are partially offset by a very low P/E valuation and improved recent operating and free-cash-flow performance.
Top Ships (TOPS) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- $1.27M
- Dividend Yield
- ―
- Average Volume (3M)
- 330.87K
- Price to Earnings (P/E)
- -1.0
- Beta (1Y)
- 0.85
- Revenue Growth
- -29.35%
- EPS Growth
- -112.70%
- Country
- US
- Employees
- 86
- Sector
- Energy
- Sector Strength
- 65
- Industry
- Marine Shipping
Top Ships Business Overview & Revenue Model
Company Description
Top Ships Inc., a maritime company established in 2000 and headquartered in Maroussi, Greece, specializes in the worldwide ownership and operation of tanker vessels. Its medium-range ships primarily facilitate the global transport of essential liquid...
How the Company Makes Money
Top Ships makes money primarily by earning charter revenue from the commercial use of its tanker vessels. Its main revenue stream comes from (1) time charters, where a customer hires a vessel for a fixed period and pays a contracted daily hire rate (...
Top Ships Financial Statement Overview
Summary
Mid-range financial quality. Operating profitability and recent cash generation are constructive (2025 operating cash flow $26.4M; positive free cash flow in 2024–2025), but the balance sheet is a major constraint with high leverage (2025 debt $204.8M vs. equity $89.2M) and reduced equity cushion. Earnings and revenue have also been volatile, with net income down sharply in 2025.
Income Statement
54NeutralBalance Sheet
46NeutralCash Flow
58Neutral| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 62.08M | 80.42M | 86.13M | 82.95M | 80.66M | 56.37M |
| Gross Profit | 34.59M | 36.95M | 37.68M | 48.46M | 36.25M | 20.50M |
| EBITDA | 40.10M | 41.06M | 50.05M | 42.09M | 43.95M | 23.64M |
| Net Income | 2.01M | 3.09M | 5.03M | 6.07M | 18.95M | 8.62M |
Balance Sheet | ||||||
| Total Assets | 373.50M | 333.61M | 422.77M | 459.19M | 469.34M | 330.79M |
| Cash, Cash Equivalents and Short-Term Investments | 11.45M | 20.37M | 7.63M | 35.96M | 20.54M | 2.37M |
| Total Debt | 260.97M | 204.79M | 251.41M | 255.84M | 260.93M | 184.33M |
| Total Liabilities | 280.72M | 244.42M | 278.35M | 275.81M | 272.31M | 221.42M |
| Stockholders Equity | 92.78M | 89.19M | 144.42M | 183.38M | 197.02M | 109.36M |
Cash Flow | ||||||
| Free Cash Flow | -50.26M | 17.12M | 17.32M | 28.93M | -183.29M | -99.45M |
| Operating Cash Flow | 18.26M | 26.43M | 17.32M | 28.93M | 33.42M | 16.06M |
| Investing Cash Flow | -71.75M | -1.31M | -12.40M | 2.52M | -142.66M | -76.65M |
| Financing Cash Flow | 56.56M | -14.51M | -33.25M | -16.04M | 127.41M | 43.63M |
Top Ships Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TOPS, the sentiment is Negative. The current price of 2.84 is above the 20-day moving average (MA) of 0.37, above the 50-day MA of 0.56, and above the 200-day MA of 1.88, indicating a bearish trend. The MACD of -0.08 indicates Negative momentum. The RSI at 23.93 is Positive, neither overbought nor oversold. The STOCH value of 30.70 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TOPS.
Top Ships Risk Analysis
Top Ships disclosed 63 risk factors in its most recent earnings report. Top Ships reported the most risks in the "Finance & Corporate" category.
- Finance & Corporate24
- Tech & Innovation2
- Legal & Regulatory12
- Production13
- Ability to Sell3
- Macro & Political9
Latest Risks Added
2 New RisksTop Ships Peers Comparison
Overall Rating
PXS76Outperform
GLBS74Outperform
PSHG74Outperform
CTRM65Neutral- TOPS57Neutral
SVRN46Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| PXS | 76Outperform | $57.24M | 6.84 | 8.79% | ― | -5.01% | ― |
| GLBS | 74Outperform | $54.39M | 8.13 | 3.80% | ― | 47.79% | ― |
| PSHG | 74Outperform | $23.62M | 0.81 | 10.21% | ― | 34.61% | -41.81% |
| Sector * | 65Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% |
| CTRM | 65Neutral | $12.37M | 0.14 | 15.86% | ― | 33.15% | ― |
| TOPS | 57Neutral | $20.91M | -0.98 | 2.21% | ― | -29.35% | -112.70% |
| SVRN | 46Neutral | $24.48M | -0.15 | -46.46% | ― | ― | ― |
* Energy Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| TOPS | Top Ships | 2.84 | -56.34 | -95.20% | |
| PSHG | Performance Shipping Inc. | 2.08 | -0.07 | -3.26% | |
| GLBS | Globus Maritime | 2.55 | 1.36 | 114.29% | |
| PXS | Pyxis Tankers | 5.54 | 2.81 | 102.93% | |
| CTRM | Castor Maritime | 1.36 | -0.60 | -30.61% | |
| SVRN | Oceanpal Inc | 14.26 | -14.54 | -50.49% |
Top Ships Corporate Events
TOP Ships Reshapes 2029 MR Tanker Portfolio With Newbuild Acquisitions and Asset Sale
On July 28 and July 27, 2026, TOP Ships Inc. reshaped its future fleet profile through related‑party share purchase agreements involving four MR chemical/product tankers delivering in 2029. The company agreed to acquire three SPVs linked to new...
TOP Ships Sells Newbuilding MR Tanker SPV to Related Party for $6.5 Million
On July 28, 2026, TOP Ships Inc. announced it has agreed to sell 100% of the shares of a Marshall Islands special purpose vehicle holding a shipbuilding contract for a 47,499 dwt chemical/product oil carrier. The newbuilding, contracted with Guangzho...
TOP Ships Lifts Net Asset Value 24%, Plans Exit from Megayacht Sector
On July 27, 2026, TOP Ships reported management’s estimate of its net asset value at $359.2 million as of June 30, 2026, based on third-party broker vessel valuations, debt and cash. The figure marks a 24% increase from the NAV last reported on...
TOP Ships to Sell Megayacht Para Bellvm and Refocus on Core Tanker Business
On July 22, 2026, TOP Ships Inc. announced that it has decided to sell the 47-meter megayacht M/Y Para Bellvm, built in 2023 at the Sanlorenzo shipyard and configured for 12 guests and 10 crew. The move marks a strategic exit from the megayacht secto...
TOP Ships Scraps Dubai Real Estate Deal, Redirects $23.5 Million to Tanker Fleet
On July 16, 2026, TOP Ships Inc. announced that it will not proceed with the planned acquisition of a portfolio of residential real estate assets in Dubai, originally contemplated under a letter of intent signed on November 28, 2025. The company stat...
TOP Ships Reports Safe VLCC Exit from Strait of Hormuz and 13% Rise in VLCC Values
On June 24, 2026, TOP Ships said its 2022-built VLCC M/T Legio X safely exited the Strait of Hormuz after remaining in the waterway throughout the recent disruption to navigation. The tanker stayed on hire under its time charter during the incident,...
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.
Date of analysis: Aug 17, 2026