Subscribe

Top Ships Inc. (TOPS)

USD0.78 +0.04 (+5.16%)
GR AMEX Industrials Marine Shipping
Address 1 Vasilisis Sofias & Megalou Alexandro S 15124
Marousi, GR
CEO Evangelos J. Pistiolis
IPO 2004-08-02
CIK 1296484 ISIN MHY8897Y2307

Explore sections of this company profile

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 commodities, including crude oil, various refined petroleum products, and bulk liquid chemicals. The organization underwent a name change in December 2007, transitioning from its former identity as Top Tankers Inc. By the close of business on December 31, 2020, Top Ships Inc. commanded a diverse fleet with an aggregated carrying capacity of 1,435,000 deadweight tonnes (dwt). This fleet comprised one 50,000 dwt product/chemical tanker, five 157,000 dwt Suezmax tankers, two sizable 300,000 dwt Very Large Crude Carriers (VLCCs), and two 50,000 dwt product tankers.

Market Cap & Enterprise Value
Merger & Acquisition History

No mergers or acquisitions recorded for this company.

Technical Outlook
Loading outlook…
Loading forecast...
Signal Summary Loading…
Indicator 1D1W2W3W1M
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
Loading risk profile…
Price Chart
Averages
Trend
Price
Levels
Draw
USD0.78 +0.04 (+5.16%)
Loading historical data…
Volume Profile
Loading…
Liquidity & share structure
Average Volume
879.7K
Beta
1.99
Float Shares
1.01M
Free Float %
21.9%
Price Performance
1D5D1M3M6M YTD1Y3Y5Y10YMax
-1.77% -13.09% -59.31% -81.62% -85.06% -80.15% -83.57% -89.49% -99.77% -100.00% -100.00%
Rolling Volatility
Loading…
Drawdown
Loading…
Relative Strength
Loading…
Monthly Returns Heatmap
From To
Loading…
Annual Monthly Returns
Loading…
Daily Returns Distribution
vs.
Loading histogram data…

Revenue flow

Revenue by geography

Revenue by segment

From To

Revenue composition

From To

By product

By geography

Financial Statements

Income Statement

Balance Sheet

Cash Flow Statement

Key Metrics

Financial Ratios

Employees

Financial Growth (CAGR)

Market Data

Analyst Consensus (1 ratings, all time) Buy
Price Targets & DCF
Current price
0.78
Low 2.50 +222.6%
Consensus 2.50 +222.6%
Median 2.50 +222.6%
High 2.50 +222.6%
DCF (Unlevered) 20.58 +2,555.1%

DCF figures are point estimates: small changes in growth or discount-rate assumptions move them materially. Read them as a reference, not a precise target.

Ratings Trend (MoM) 100% Bullish
Rating 2024-11 Change
Strong Buy 0 0
Buy 1 0
Hold 0 0
Sell 0 0
Strong Sell 0 0
Price Target Summary
Period # Analysts Avg Target
Last Month
Last Quarter
Last Year
All Time 1
2.50
+222.6%
Quality scores
Altman Z-Score
-0.44
Distress
Piotroski F-Score
5 / 9
Average
MOAT Score
4 / 10
Developing
Composite Rating
A-
Overall Score
4 / 5
High
DCF Score
5 / 5
High
ROE Score
2 / 5
Medium
ROA Score
3 / 5
Medium
D/E Score
1 / 5
Low
P/E Score
4 / 5
High
P/Book Score
5 / 5
High
Operational MOAT
✗ Below peers
  • Revenue growth Marine Shipping: +2.8%
    -6.6% Q4'25: +75.1% (vs Q4'22)
  • EPS growth Marine Shipping: -1.4%
    -38.5% Q4'25: -116.2% (vs Q4'22)
  • FCF margin FCF growth · Marine Shipping: +26.4%
    +12.0% Q4'25: +3.8% (vs Q4'22)
  • EBIT margin Marine Shipping: +23.2%
    +23.8% Q4'25: +22.0% (vs Q4'22)
  • ROIC Marine Shipping: +6.9%
    +7.0% Q4'25: +11.8% (vs Q4'22)
  • Share dilution Marine Shipping: +0.0%
    +0.0% Q4'25: +1,310.6% (vs Q4'22)
  • Debt / EBITDA Net debt/EBITDA · Marine Shipping: 1.05×
    4.99× Q4'25: 2.22× (vs Q4'22)
Valuation Multiples From To
Price Forecast (3Y) From To
Model
Adjust
P/E
Theoretical Return — If Invested Today

* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.

DCF Interactive Model (UFCF)
Projection years:
Market assumptions
WACC components (optional)
Ke (Cost of Equity) = Rf + β (2.20) × ERP
WACC = 2% × Ke + 98% × Kd (7.8%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
Intrinsic value (base): 20.58 Current price: 0.78
Enterprise Value: Equity Value: Terminal Value: TV as % of EV:

Base values reflect the latest available data for this company and market conditions.

Consensus Estimates
Metric Dec 2010
actual
Dec 2011
actual
Dec 2012
actual
Dec 2013
actual
Dec 2014
actual
Dec 2015
actual
Dec 2016
actual
Dec 2017
actual
Dec 2018
actual
Dec 2019
actual
Dec 2020
actual
Dec 2021
actual
Dec 2022
actual
Dec 2023
actual
Dec 2024
actual
Dec 2025
actual
Revenue
90.88M
est: 216.58M (-58.0%)
41.69M
est: 236.81M (-82.4%)
31.43M
est: 271.05M (-88.4%)
20.07M
est: 303.92M (-93.4%)
3.60M
est: 334.31M (-98.9%)
13.08M
est: 367.74M (-96.4%)
28.43M
est: 404.51M (-93.0%)
39.36M
est: 444.96M (-91.2%)
41.05M
est: 489.46M (-91.6%)
66.09M
est: 65.50M (+0.9%)
60.22M
est: 64.50M (-6.6%)
56.37M
est: 56.00M (+0.7%)
80.66M
est: 80.80M (-0.2%)
82.95M
est: 83.87M (-1.1%)
86.13M
est: 87.10M (-1.1%)
80.42M
est: 92.80M (-13.3%)
EBITDA
51.03M
est: 89.80M (-43.2%)
-145.69M
est: 102.68M (-241.9%)
-42.43M
est: 123.46M (-134.4%)
14.65M
est: 144.12M (-89.8%)
4.20M
est: 158.53M (-97.4%)
-7.02M
est: 174.39M (-104.0%)
7.47M
est: 191.82M (-96.1%)
7.00M
est: 211.01M (-96.7%)
5.03M
est: 232.11M (-97.8%)
15.46M
est: 29.31M (-47.2%)
11.12M
est: 28.86M (-61.5%)
23.65M
est: 25.06M (-5.6%)
43.95M
est: 36.16M (+21.6%)
42.09M
est: 50.66M (-16.9%)
50.05M
est: 52.61M (-4.9%)
41.06M
est: 56.06M (-26.8%)
EBIT
17.17M
est: 46.13M (-62.8%)
-172.85M
est: 52.47M (-429.4%)
-54.94M
est: 63.66M (-186.3%)
7.89M
est: 75.70M (-89.6%)
3.32M
est: 83.27M (-96.0%)
-7.81M
est: 91.59M (-108.5%)
3.88M
est: 100.75M (-96.1%)
1.14M
est: 110.83M (-99.0%)
-1.73M
est: 121.91M (-101.4%)
3.02M
est: 16.71M (-81.9%)
-2.10M
est: 16.45M (-112.7%)
15.96M
est: 14.28M (+11.7%)
30.66M
est: 20.61M (+48.8%)
27.75M
est: 25.96M (+6.9%)
26.90M
est: 26.96M (-0.2%)
19.12M
est: 28.73M (-33.4%)
Net Income
2.51M
est: 15.69M (-84.0%)
-189.11M
est: 16.68M (-1,233.4%)
-63.98M
est: 20.67M (-409.6%)
1.41M
est: 26.74M (-94.7%)
2.90M
est: 29.41M (-90.2%)
-8.51M
est: 32.35M (-126.3%)
1.05M
est: 35.59M (-97.0%)
-13.38M
est: 39.14M (-134.2%)
-11.13M
est: 43.06M (-125.9%)
-14.77M
est: 47.36M (-131.2%)
-22.82M
est: 52.10M (-143.8%)
8.62M
est: 57.31M (-85.0%)
18.95M
est: 63.04M (-69.9%)
6.07M
est: -31.18M (+119.5%)
5.03M
est: 3.21M (+57.0%)
3.09M
est: 9.12M (-66.2%)
SGA
34.29M
est: 40.71M (-15.8%)
29.64M
est: 48.09M (-38.4%)
9.51M
est: 58.33M (-83.7%)
4.66M
est: 67.31M (-93.1%)
3.09M
est: 74.04M (-95.8%)
4.87M
est: 81.44M (-94.0%)
2.91M
est: 89.58M (-96.8%)
5.81M
est: 98.54M (-94.1%)
15.52M
est: 108.40M (-85.7%)
12.41M
est: 7.04M (+76.2%)
9.51M
est: 6.93M (+37.1%)
1.94M
est: 6.02M (-67.7%)
1.62M
est: 8.69M (-81.4%)
19.74M
est: 7.96M (+148.1%)
7.51M
est: 8.26M (-9.2%)
7.62M
est: 8.80M (-13.5%)
EPS
2,513,000.00
est: 4,255,523,718.40 (-99.9%)
-45,353,196,347,466.65
est: 4,687,812,050.24 (-967,570.5%)
-5,694,300,843,795.01
est: 5,921,334,851.06 (-96,265.8%)
56,320,000.00
est: 7,470,931,886.81 (-99.2%)
5,792,000.00
est: 8,218,025,075.50 (-99.9%)
-15,467,272.73
est: 9,039,827,583.05 (-100.2%)
-351,000.00
est: 9,943,810,341.35 (-100.0%)
-7,547,842.31
est: 10,938,191,375.49 (-100.1%)
-754,095.18
est: 12,032,010,513.04 (-100.0%)
-63,502.00
est: -20,880.00 (-204.1%)
-293.70
est: -158.40 (-85.4%)
32.51
est: 16.80 (+93.5%)
-36.34
est: 41.76 (-187.0%)
-12.44
est: -6.74 (-84.5%)
1.09
est: 0.69 (+57.3%)
0.67
est: 1.97 (-66.0%)
Historical Ratings (3M)
Date Rating Overall DCF ROE ROA D/E P/E P/B
2026-05-28 A- 4/5 5/5 2/5 3/5 1/5 4/5 5/5
2026-05-27 A- 4/5 5/5 2/5 3/5 1/5 4/5 5/5
2026-05-26 A- 4/5 5/5 2/5 3/5 1/5 4/5 5/5
2026-05-22 A- 4/5 5/5 2/5 3/5 1/5 4/5 5/5
2026-05-21 A- 4/5 5/5 2/5 3/5 1/5 4/5 5/5
2026-05-20 A- 4/5 5/5 2/5 3/5 1/5 4/5 5/5
2026-05-19 A- 4/5 5/5 2/5 3/5 1/5 4/5 5/5
2026-05-18 A- 4/5 5/5 2/5 3/5 1/5 4/5 5/5
2026-05-15 A- 4/5 5/5 2/5 3/5 1/5 4/5 5/5
2026-05-14 A- 4/5 5/5 2/5 3/5 1/5 4/5 5/5
2026-05-13 B+ 3/5 4/5 2/5 3/5 1/5 4/5 5/5
2026-05-12 B+ 3/5 4/5 2/5 3/5 1/5 4/5 5/5
2026-05-11 B+ 3/5 4/5 2/5 3/5 1/5 4/5 5/5
2026-05-08 B+ 3/5 4/5 2/5 3/5 1/5 4/5 5/5
2026-05-07 B+ 3/5 4/5 2/5 3/5 1/5 4/5 5/5
2026-05-06 B+ 3/5 4/5 2/5 3/5 1/5 4/5 5/5
2026-05-05 B+ 3/5 4/5 2/5 3/5 1/5 4/5 5/5
2026-05-04 B+ 3/5 4/5 2/5 3/5 1/5 4/5 5/5
2026-05-01 B+ 3/5 4/5 2/5 3/5 1/5 4/5 5/5
2026-04-30 B+ 3/5 4/5 2/5 3/5 1/5 4/5 5/5
2026-04-29 B+ 3/5 4/5 2/5 3/5 1/5 4/5 5/5
2026-04-28 B+ 3/5 4/5 2/5 3/5 1/5 4/5 5/5
2026-04-27 A- 4/5 4/5 2/5 4/5 1/5 4/5 5/5
2026-04-24 A- 4/5 4/5 2/5 4/5 1/5 4/5 5/5
2026-04-23 A- 4/5 4/5 2/5 4/5 1/5 4/5 5/5
2026-04-22 A- 4/5 4/5 2/5 4/5 1/5 4/5 5/5
2026-04-21 A- 4/5 4/5 2/5 4/5 1/5 4/5 5/5
2026-04-20 A- 4/5 4/5 2/5 4/5 1/5 4/5 5/5
2026-04-17 A- 4/5 4/5 2/5 4/5 1/5 4/5 5/5
2026-04-16 A- 4/5 4/5 2/5 4/5 1/5 4/5 5/5

Owner Earnings

Owner's Earnings (history) From To
Owner alignment
Owner's Earnings TTM
478.42M
OE per share TTM
171.63
Owner's Yield
11,552.23%
Maintenance CapEx ratio
Maint CapEx / Avg PPE
442.0%

Ownership Overview

Ownership breakdown

Ownership breakdown not available.

At a glance
Institutional holders
Total invested
Insider transactions (90d)
0
Beneficial owners (>5%)
22
Beneficial owners (>5%)
# Reporting person Amount owned % of class Sole voting Shared voting Sole dispositive Shared dispositive Type Citizenship Filing date SEC filing
1 SCHEDULE 13D/A 12.69M 24.20% 11.00 CO 2021-11-05
2 ALJ Capital Management, LLC 47-0920478 2.50M 13.20% 2.50M 2.50M IA Citizenship or Place of Organization 2015-02-17
3 Lawrence B. Gill 2.50M 13.20% 2.50M 2.50M HC, IN Citizenship or Place of Organization 2015-02-17
4 Ron D. Silverton 2.50M 13.20% 2.50M 2.50M HC, IN Citizenship or Place of Organization 2015-02-17
5 Heights Capital Management, Inc. 2.16M 9.90% 2.16M 2.16M CO Delaware 2018-11-02
6 Ronin Capital, LLC 1.59M 4.60% 1.59M 1.59M BD Delaware 2016-02-16
7 Acuitas Group Holdings, LLC 1.10M 1.23% 1.10M 1.10M HC Citizenship or Place of Organization 2018-02-14
8 Crede CG III, Ltd. 1.10M 1.23% 1.10M 1.10M OO Citizenship or Place of Organization 2018-02-14
9 Crede Capital Group, LLC 1.10M 1.23% 1.10M 1.10M HC Citizenship or Place of Organization 2018-02-14
10 Terren S. Peizer 1.10M 1.23% 1.10M 1.10M IN Citizenship or Place of Organization 2018-02-14
11 Armistice Capital, LLC 1.07M 9.44% 1.07M IA, OO Delaware 2023-02-14
12 Steven Boyd 1.07M 9.44% 1.07M HC, IN United States of America 2023-02-14
13 Hudson Bay Capital Management LP 34.0K 0.09% 34.0K PN State of Delaware 2021-02-11
14 Sander Gerber 34.0K 0.09% 34.0K IN United States 2021-02-11
15 Daniel B. Asher 18.0K 0.04% 18.0K 18.0K HC, IN United States of America 2021-01-29
16 Intracoastal Capital LLC 18.0K 0.04% 18.0K 18.0K OO Delaware 2021-01-29
17 Mitchell P. Kopin 18.0K 0.04% 18.0K 18.0K HC, IN United States of America 2021-01-29
18 2. 0.00% IA United States America 2017-02-13
19 CVI Investments, Inc. 0.00% CO Cayman Islands 2020-02-10
20 Heights Capital Management, Inc. 0.00% CO Delaware 2020-02-10
21 Morgan Stanley 0.00% 13.00 HC, CO Delaware. 2020-04-09
22 Morgan Stanley Capital Services LLC 0.00% 13.00 CO Delaware. 2020-04-09

Institutional Activity (13F)

Institutional ownership trend

Institutional history not available.

Top institutional holders

Top holders not available.

ETF Ownership

Top ETFs holding this stock

This company is not held by any ETF in our universe.

Insider Activity

Insider Activity — Latest Quarter
Ratio by transactions
0.00
Bearish
Buys
0
Sells
0
Shares acquired
Shares disposed
Cash buys
Cash sales
Net activity
+0
Insider buys vs sells (history) From To
Recent insider transactions From To
Date Person Role Transaction A/D Security Shares Price Value Owned after D/I Filing
2026-04-01 Pistiolis Evangelos Director / Officer Common Stock, par value $0.01 per share 0 0.00 2,930,718 I
2026-03-18 Zoupou Maria 0 0.00 0
2026-03-18 Tsirikos Alexandros 0 0.00 0
2026-03-18 Karelas Konstantinos 0 0.00 0
2026-03-18 Javarone Paolo 0 0.00 0
2016-08-31 Ronin Capital, LLC 10% Owner S-Sale D Common Stock 27,500 3.87 106.3K 75,350
2016-08-30 Ronin Capital, LLC 10% Owner S-Sale D Common stock 8,400 3.96 33.2K 102,850
2016-08-26 Ronin Capital, LLC 10% Owner S-Sale D Common stock 20,000 4.61 92.1K 111,250
2016-08-25 Ronin Capital, LLC 10% Owner X-InTheMoney D Warrants to Purchase Common Stock 125,000 2.80 350.0K 375,000
2016-08-24 Ronin Capital, LLC 10% Owner S-Sale D Common Stock 45,000 4.15 186.8K 56,381
2016-08-23 Ronin Capital, LLC 10% Owner S-Sale D Common Stock 9,869 3.82 37.7K 101,381
2016-08-12 Ronin Capital, LLC 10% Owner X-InTheMoney D Warrants to Purchase Common Stock 125,000 2.80 350.0K 500,000
2016-07-21 Ronin Capital, LLC 10% Owner S-Sale D Common Stock 64,600 3.45 222.9K 0
2016-07-20 Ronin Capital, LLC 10% Owner S-Sale D Common Stock 14,700 2.13 31.2K 64,600
2016-06-16 Ronin Capital, LLC 10% Owner S-Sale D Common Stock 300 2.00 600.00 79,300
2016-06-14 Ronin Capital, LLC 10% Owner S-Sale D Common Stock 3,300 1.96 6.5K 79,600
2016-06-13 Ronin Capital, LLC 10% Owner S-Sale D Common Stock 597 2.06 1.2K 82,900
2016-03-10 Ronin Capital, LLC 10% Owner D Common Stock 0 0.00 83,497
2014-06-11 Ronin Capital, LLC 10% Owner D Warrants to Purchase Common Stock 556,250 2.80 1.56M 0

Executive team

Top executives
EBIT / Employee
19.12M
Shares Outstanding
4.63M

Executive compensation

Executive compensation (annual)

Executive compensation not available.

CEO compensation breakdown

No CEO compensation history available.

Proxy statements

Proxy statements (DEF 14A)

No proxy statements available for this company yet.

Recent SEC filings

Recent SEC filings
Filing date Form type Filing
2026-05-29 6-K
2026-05-18 SC 13D/A
2026-05-15 RW
2026-05-15 6-K
2026-05-15 424B3
2026-05-13 F-1/A
2026-05-07 EFFECT
2026-05-07 424B3
2026-05-05 SC 13D/A
2026-04-27 F-1

Executive team

NameTitleCompensationGender
Alexandros Tsirikos Chief Financial Officer & Executive Director male
Evangelos J. Pistiolis Founder, President, Chief Executive Officer & Director male
Konstantinos Patis Chief Technical Officer male
Vangelis G. Ikonomou Chief Operating Officer male
ESG Rating
B
MARINE SHIPPING
Rank: 27 out of 43
2024
E (Environmental)
55.7 / 61.4
Company / Sector avg.
S (Social)
59.5 / 63.0
Company / Sector avg.
G (Governance)
63.8 / 68.2
Company / Sector avg.
ESG Total
59.6 / 64.2
Company / Sector avg.
ESG Score History MARINE SHIPPING
Benchmark vs Sector
Senate Trading Activity

No Senate trading activity found for this company.

House Trading Activity

No House trading activity found for this company.

Market share among peers
Peer comparison — filtered group (TTM)
Your opinion

Share your view on this stock and instantly see how the community has voted over the last 6 months.

These are community opinions and do not constitute buy or sell advice to act on. The results shown are based on aggregated opinions and are not an investment recommendation, nor do they intend to influence any investment decision.

Dividend yield history

Dividend history

Earnings history

Earnings reports

Stock splits