TOP SHIPS INC (TOPS) Stock Fundamental Analysis
NYSEARCA:TOPS - NYSE Arca - MHY8897Y2307 - Common Stock - Currency: USD
TOPS gets a fundamental rating of 3 out of 10. The analysis compared the fundamentals against 211 industry peers in the Oil, Gas & Consumable Fuels industry. There are concerns on the financial health of TOPS while its profitability can be described as average. TOPS has a decent growth rate and is not valued too expensively.
1. Profitability
1.1 Basic Checks
In the past year TOPS has reported negative net income.
In the past year TOPS had a positive cash flow from operations.
TOPS had negative earnings in 4 of the past 5 years.
In the past 5 years TOPS always reported a positive cash flow from operatings.
1.2 Ratios
The Return On Assets of TOPS (-5.28%) is worse than 83.82% of its industry peers.
TOPS has a Return On Equity of -16.07%. This is amonst the worse of the industry: TOPS underperforms 81.86% of its industry peers.
TOPS has a Return On Invested Capital of 5.32%. This is in the lower half of the industry: TOPS underperforms 61.76% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for TOPS is significantly below the industry average of 28.75%.
The last Return On Invested Capital (5.32%) for TOPS is above the 3 year average (5.29%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -5.28% | ||
| ROE | -16.07% | ||
| ROIC | 5.32% |
ROA(3y)-1.73%
ROA(5y)-4.4%
ROE(3y)-3.98%
ROE(5y)-12.54%
ROIC(3y)5.29%
ROIC(5y)4.44%
1.3 Margins
TOPS has a better Operating Margin (31.88%) than 67.16% of its industry peers.
In the last couple of years the Operating Margin of TOPS has grown nicely.
TOPS has a better Gross Margin (97.65%) than 100.00% of its industry peers.
TOPS's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 31.88% | ||
| PM (TTM) | N/A | ||
| GM | 97.65% |
OM growth 3Y25.29%
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y0.47%
GM growth 5Y0.1%
2. Health
2.1 Basic Checks
TOPS has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
TOPS has more shares outstanding than it did 1 year ago.
The number of shares outstanding for TOPS has been increased compared to 5 years ago.
Compared to 1 year ago, TOPS has a worse debt to assets ratio.
2.2 Solvency
Based on the Altman-Z score of -0.59, we must say that TOPS is in the distress zone and has some risk of bankruptcy.
The Altman-Z score of TOPS (-0.59) is worse than 75.49% of its industry peers.
TOPS has a debt to FCF ratio of 11.77. This is a negative value and a sign of low solvency as TOPS would need 11.77 years to pay back of all of its debts.
Looking at the Debt to FCF ratio, with a value of 11.77, TOPS is in line with its industry, outperforming 42.16% of the companies in the same industry.
A Debt/Equity ratio of 1.78 is on the high side and indicates that TOPS has dependencies on debt financing.
TOPS's Debt to Equity ratio of 1.78 is on the low side compared to the rest of the industry. TOPS is outperformed by 83.33% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.78 | ||
| Debt/FCF | 11.77 | ||
| Altman-Z | -0.59 |
ROIC/WACC0.76
WACC6.97%
2.3 Liquidity
TOPS has a Current Ratio of 0.63. This is a bad value and indicates that TOPS is not financially healthy enough and could expect problems in meeting its short term obligations.
With a Current ratio value of 0.63, TOPS is not doing good in the industry: 82.35% of the companies in the same industry are doing better.
A Quick Ratio of 0.61 indicates that TOPS may have some problems paying its short term obligations.
The Quick ratio of TOPS (0.61) is worse than 78.43% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.63 | ||
| Quick Ratio | 0.61 |
3. Growth
3.1 Past
TOPS shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -181.34%.
TOPS shows a small growth in Revenue. In the last year, the Revenue has grown by 1.17%.
The Revenue has been growing by 15.13% on average over the past years. This is quite good.
EPS 1Y (TTM)-181.34%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-48.89%
Revenue 1Y (TTM)1.17%
Revenue growth 3Y11.28%
Revenue growth 5Y15.13%
Sales Q2Q%2.35%
3.2 Future
TOPS is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 31.32% yearly.
The Revenue is expected to grow by 5.61% on average over the next years.
EPS Next Y-39.37%
EPS Next 2Y31.32%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year4.69%
Revenue Next 2Y5.61%
Revenue Next 3YN/A
Revenue Next 5YN/A
3.3 Evolution
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
4. Valuation
4.1 Price/Earnings Ratio
The Price/Earnings Ratio is negative for TOPS. In the last year negative earnings were reported.
The Price/Forward Earnings ratio is 2.61, which indicates a rather cheap valuation of TOPS.
Based on the Price/Forward Earnings ratio, TOPS is valued cheaper than 98.53% of the companies in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 22.68, TOPS is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | N/A | ||
| Fwd PE | 2.61 |
4.2 Price Multiples
TOPS's Enterprise Value to EBITDA is on the same level as the industry average.
Based on the Price/Free Cash Flow ratio, TOPS is valued cheaply inside the industry as 99.02% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 1.19 | ||
| EV/EBITDA | 6.73 |
4.3 Compensation for Growth
TOPS's earnings are expected to grow with 31.32% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y31.32%
EPS Next 3YN/A
5. Dividend
5.1 Amount
No dividends for TOPS!.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
NYSEARCA:TOPS (2/21/2025, 8:04:00 PM)
5.8269
-0.08 (-1.41%)
Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)
Earnings (Next)
Inst Owners6.38%
Inst Owner Change-98.67%
Ins Owners9.65%
Ins Owner Change0%
Market Cap26.98M
Analysts82.86
Price Target29.58 (407.65%)
Short Float %2.64%
Short Ratio2.99
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
Yearly Dividend2.18
Dividend Growth(5Y)N/A
DP-11.09%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0%
PT rev (3m)0%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)0%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | N/A | ||
| Fwd PE | 2.61 | ||
| P/S | 0.32 | ||
| P/FCF | 1.19 | ||
| P/OCF | 1.19 | ||
| P/B | 0.19 | ||
| P/tB | 0.19 | ||
| EV/EBITDA | 6.73 |
EPS(TTM)-11.24
EYN/A
EPS(NY)2.23
Fwd EY38.34%
FCF(TTM)4.89
FCFY83.87%
OCF(TTM)4.89
OCFY83.87%
SpS18.11
BVpS30.53
TBVpS30.53
PEG (NY)N/A
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -5.28% | ||
| ROE | -16.07% | ||
| ROCE | 6.74% | ||
| ROIC | 5.32% | ||
| ROICexc | 5.56% | ||
| ROICexgc | 5.56% | ||
| OM | 31.88% | ||
| PM (TTM) | N/A | ||
| GM | 97.65% | ||
| FCFM | 26.98% |
ROA(3y)-1.73%
ROA(5y)-4.4%
ROE(3y)-3.98%
ROE(5y)-12.54%
ROIC(3y)5.29%
ROIC(5y)4.44%
ROICexc(3y)5.57%
ROICexc(5y)4.67%
ROICexgc(3y)5.57%
ROICexgc(5y)4.67%
ROCE(3y)7.15%
ROCE(5y)5.97%
ROICexcg growth 3Y20.79%
ROICexcg growth 5YN/A
ROICexc growth 3Y20.79%
ROICexc growth 5YN/A
OM growth 3Y25.29%
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y0.47%
GM growth 5Y0.1%
F-Score5
Asset Turnover0.19
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.78 | ||
| Debt/FCF | 11.77 | ||
| Debt/EBITDA | 6.14 | ||
| Cap/Depr | N/A | ||
| Cap/Sales | N/A | ||
| Interest Coverage | 1.44 | ||
| Cash Conversion | 55.07% | ||
| Profit Quality | N/A | ||
| Current Ratio | 0.63 | ||
| Quick Ratio | 0.61 | ||
| Altman-Z | -0.59 |
F-Score5
WACC6.97%
ROIC/WACC0.76
Cap/Depr(3y)1044.89%
Cap/Depr(5y)1059.32%
Cap/Sales(3y)157.78%
Cap/Sales(5y)181.76%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-181.34%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-48.89%
EPS Next Y-39.37%
EPS Next 2Y31.32%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)1.17%
Revenue growth 3Y11.28%
Revenue growth 5Y15.13%
Sales Q2Q%2.35%
Revenue Next Year4.69%
Revenue Next 2Y5.61%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y-20.9%
EBIT growth 3Y39.42%
EBIT growth 5YN/A
EBIT Next Year38.67%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y110.62%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y9.52%
OCF growth 3Y68.57%
OCF growth 5Y109.32%