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Top Ships Inc. (TOPS)
:TOPS

Top Ships (TOPS) AI Stock Analysis

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Top Ships

(NYSE MKT:TOPS)

Rating:62Neutral
Price Target:
$6.50
▲(6.73%Upside)
Top Ships earns a score of 62, driven primarily by its moderate financial performance and undervaluation relative to peers. While the stock shows some bullish technical signals, high leverage and declining cash flows present risks. The lack of dividend yield and absence of recent earnings call insights further temper its attractiveness.

Top Ships (TOPS) vs. SPDR S&P 500 ETF (SPY)

Top Ships Business Overview & Revenue Model

Company DescriptionTop Ships Inc. owns and operates tanker vessels worldwide. The company's medium range tanker vessels transport crude oil, petroleum products, and bulk liquid chemicals. As of December 31, 2020, it had a fleet with a total capacity of 1,435,000 deadweight tonnes (dwt) consisting of 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. The company was formerly known as Top Tankers Inc. and changed its name to Top Ships Inc. in December 2007. Top Ships Inc. was incorporated in 2000 and is based in Maroussi, Greece.
How the Company Makes MoneyTop Ships Inc. generates revenue through the chartering of its fleet to customers in the oil and chemical industries. The company's primary revenue streams include time charters, where vessels are hired for specific periods at fixed rates, and spot market charters, where vessels are contracted on a voyage-by-voyage basis according to current market rates. Top Ships' earnings are influenced by factors such as global oil demand, freight rates, fleet utilization rates, and operating costs. Strategic partnerships with major oil companies and commodity traders also play a significant role in securing long-term contracts and steady income for the company.

Top Ships Financial Statement Overview

Summary
Top Ships demonstrates moderate financial health with stable revenue growth and solid operational profitability. However, high leverage and declining net profit margins pose risks. Cash flow generation remains strong but is showing signs of weakening, highlighting the need for careful financial management in the face of significant debt levels.
Income Statement
62
Positive
Top Ships has shown moderate revenue growth with a 3.83% increase from 2023 to 2024. The gross profit margin for 2024 is 43.74%, indicating efficiency in controlling costs relative to revenue. However, the net profit margin decreased to 5.85%, highlighting a contraction in profitability. The EBIT and EBITDA margins stand at 32.40% and 58.10% respectively, reflecting solid operational profitability but with declining trends compared to previous years.
Balance Sheet
55
Neutral
The debt-to-equity ratio is high at 1.74, indicating significant leverage which could pose risks in volatile market conditions. The return on equity for 2024 is relatively low at 3.49%, suggesting limited returns for shareholders. The equity ratio is 34.16%, showing moderate reliance on equity financing, but the financial stability could be compromised by high debt levels.
Cash Flow
58
Neutral
Operating cash flow has decreased significantly from 2023 to 2024, with a decline in free cash flow as well. The operating cash flow to net income ratio is 3.44, indicating strong cash generation relative to net income but declining cash flows present concerns. The free cash flow to net income ratio remains consistent, underscoring controlled capital expenditures.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue103.52M86.13M82.95M80.66M56.37M60.22M
Gross Profit63.13M37.68M48.46M36.25M20.50M24.87M
EBITDA64.61M50.05M43.08M52.52M23.64M11.66M
Net Income-17.74M5.03M6.07M40.89M16.50M-44.25M
Balance Sheet
Total Assets459.19M422.77M459.19M469.34M330.79M293.03M
Cash, Cash Equivalents and Short-Term Investments35.96M7.63M35.96M20.54M2.37M19.33M
Total Debt260.83M251.41M260.83M278.62M184.33M147.71M
Total Liabilities275.81M278.35M275.81M272.31M237.57M158.81M
Stockholders Equity183.38M144.42M183.38M197.02M93.22M134.22M
Cash Flow
Free Cash Flow35.44M17.32M28.93M-183.29M-99.45M-114.78M
Operating Cash Flow35.44M17.32M28.93M33.42M16.06M6.04M
Investing Cash Flow3.19M-12.40M2.52M-142.66M-76.65M181.29M
Financing Cash Flow-28.68M-33.25M-16.04M127.41M43.63M-177.28M

Top Ships Technical Analysis

Technical Analysis Sentiment
Neutral
Last Price6.09
Price Trends
50DMA
5.61
Positive
100DMA
5.54
Positive
200DMA
6.23
Negative
Market Momentum
MACD
0.20
Positive
RSI
49.61
Neutral
STOCH
17.72
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TOPS, the sentiment is Neutral. The current price of 6.09 is below the 20-day moving average (MA) of 6.29, above the 50-day MA of 5.61, and below the 200-day MA of 6.23, indicating a neutral trend. The MACD of 0.20 indicates Positive momentum. The RSI at 49.61 is Neutral, neither overbought nor oversold. The STOCH value of 17.72 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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 & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks

Top Ships Peers Comparison

Overall Rating
UnderperformOutperform
Sector (68)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
79
Outperform
$37.92M1.9026.72%-8.81%
68
Neutral
£2.89B10.298.40%3.40%3.06%-9.96%
63
Neutral
$21.45M2.463.07%-45.58%45.06%
62
Neutral
$25.49M5.443.07%3.83%
60
Neutral
$67.09M-6.95%7.30%-247.48%
SVSVT
55
Neutral
$120.03M191.79-4.18%2.57%83.28%
$39.19M-472.57%
* Industrials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
TOPS
Top Ships
6.09
-3.97
-39.46%
FTEK
Fuel Tech
2.35
1.32
128.16%
SVT
Servotronics
46.95
34.95
291.25%
GTEC
Greenland Technologies Holding
2.18
0.79
56.83%
MESA
Mesa Air Group
0.95
-0.78
-45.09%
CTRM
Castor Maritime
2.22
-2.66
-54.51%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

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: Jun 18, 2025