Top Ships Inc. (TOPS)

NYSEAMERICAN: TOPS · Real-Time Price · USD

0.2992

-0.0386 (-11.43%)

At close: Oct 23, 2026, 4:00 PM

0.3002

+0.0010 (0.33%)

After-hours: Oct 23, 2026, 6:15 PM EDT

Top Ships Financials Overview

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Revenue & Profits

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	62.08	80.42	86.13	82.95	80.66	56.37
Revenue Growth	-22.80%	-6.63%	3.83%	2.84%	43.09%	-6.40%
Gross Profit	40.44	49.54	51.3	52.26	49.78	28.48
Operating Income	19.66	26.28	27.9	28.73	32.54	15.96
Net Income	-0.62	3.09	5.03	-22.37	-9.19	5.4
Earnings Per Share	-0.12	0.67	1.09	-12.44	-36.34	32.51
EPS Growth	-	-38.70%	-	-	-	-

Revenue by Segment

Fiscal Year	FY 2025
Period Ending	Dec '25 Dec 31, 2025
Tanker	76.06
Megayacht	4.35
Total	80.42

Cash & Debt

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Investments	11.45	20.37	7.63	35.96	20.54	2.37
Total Debt	260.97	216.61	265.62	255.84	257.66	131.13
Net Cash (Debt)	-249.53	-196.24	-257.99	-219.88	-237.12	-128.76
Net Cash Growth	-	-	-	-	-	-
Net Cash Per Share	-48.29	-42.42	-55.77	-122.24	-937.91	-775.83

Cash Flow & CapEx

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Operating Cash Flow	18.26	26.43	17.32	28.93	33.42	16.06
Capital Expenditures	-92.02	-20.81	-24	-	-216.71	-115.51
Free Cash Flow	-73.76	5.62	-6.68	28.93	-183.3	-99.45
Free Cash Flow Growth	-	-	-	-	-	-

Margins

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Gross Margin	65.15%	61.61%	59.57%	63.00%	61.72%	50.53%
Operating Margin	31.66%	32.68%	32.40%	34.63%	40.34%	28.32%
Pretax Margin	3.23%	3.84%	5.84%	7.31%	23.49%	15.29%
Profit Margin	-1.00%	3.84%	5.85%	-26.97%	-11.39%	9.57%
FCF Margin	-118.81%	6.99%	-7.75%	34.88%	-227.25%	-176.44%

Valuation

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Oct '26 Oct 24, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
PE Ratio	-	6.76	5.54	-	-	6.16
Forward PE	-	5.31	5.31	6.01	1.37	1.58
P/FCF Ratio	-	3.71	-	2.50	-	-
PS Ratio	0.04	0.26	0.32	0.87	0.16	0.59