Top Ships Inc. (TOPS) AI Stock Analysis

Top Ships Inc. is an international maritime company that owns and manages tanker vessels. The company's fleet primarily includes medium range tankers built to transport crude oil, petroleum products, and bulk liquid chemicals globally. As of December 31, 2020, the company operated a fleet capacity of 1,435,000 deadweight tonnes, comprising one 50,000 dwt product/chemical tanker, five 157,000 dwt Suezmax tankers, two 300,000 dwt very large crude carriers, and two 50,000 dwt product tankers. Founded in 2000 and based in Maroussi, Greece, the company was formerly known as Top Tankers Inc. before rebranding in December 2007.

Revenue increased at a 5-year CAGR of 6.0% between FY2020 and FY2025. Annual sales peaked at $86.1M in FY2024 before decreasing 6.6% to $80.4M in FY2025, alongside net income of $3.1M and a net margin of 3.8%. In the trailing twelve months ending June 30, 2026, revenue was $62.1M with an operating margin of 45.6% and a net profit margin of 3.2%, producing diluted EPS of -$0.35. For the latest quarter ending June 30, 2026, revenue fell 41.9% year-over-year, while quarterly earnings declined 62.9%.

As of June 30, 2026, Top Ships held $11.4M in cash and short-term investments against $261.0M in total debt, leading to net debt of $249.5M. Total assets stood at $373.5M compared to $92.8M in shareholders' equity, yielding a debt-to-equity ratio of 2.81 and a current ratio of 0.48. In FY2025, the company generated $26.4M in operating cash flow and invested $9.3M in capital expenditures, delivering $17.1M in free cash flow. Over the past five years, the company's share count increased 6353.5%.

Top Ships trades at a forward P/E of 4.9x, below the 12.7x median of its US-listed Energy peers. Its EV to EBITDA multiple is 19.7x, compared to the peer group median of 8.0x, while its price-to-sales ratio is 0.1x against the peer median of 1.8x. The stock closed at $0.45 on October 16, 2026, marking a 1-year return of -92.6% compared to a 16.8% gain for the S&P 500 (SPY). Over a 5-year period, the stock dropped 99.9% while the benchmark gained 83.0%.

One analyst covers Top Ships with a Buy rating. The mean price target is $29.00, representing a 6344.4% premium over the last close of $0.45. Over the trailing four quarters, the company beat EPS estimates in two periods. Insiders hold 44.3% of shares, institutional ownership stands at 3.5%, and short interest accounts for 6.5% of the float.

This page is an AI-written research summary of Top Ships Inc. (TOPS). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

Related: TOPS income statement, TOPS balance sheet, TOPS key metrics, TOPS analyst forecast, TOPS chart. See the TOPS stock overview for the latest quote and news.