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TOP Ships Inc. (TOPS)



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Upturn Advisory Summary
08/14/2025: TOPS (1-star) is currently NOT-A-BUY. Pass it for now.
1 Year Target Price $29
1 Year Target Price $29
0 | Strong Buy |
1 | Buy |
0 | Hold |
0 | Sell |
0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit -41.45% | Avg. Invested days 23 | Today’s Advisory PASS |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Small-Cap Stock | Market Capitalization 28.13M USD | Price to earnings Ratio 5.58 | 1Y Target Price 29 |
Price to earnings Ratio 5.58 | 1Y Target Price 29 | ||
Volume (30-day avg) 1 | Beta 1.9 | 52 Weeks Range 5.00 - 11.47 | Updated Date 08/15/2025 |
52 Weeks Range 5.00 - 11.47 | Updated Date 08/15/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) 1.09 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 5.85% | Operating Margin (TTM) 30.92% |
Management Effectiveness
Return on Assets (TTM) 3.96% | Return on Equity (TTM) 3.07% |
Valuation
Trailing PE 5.58 | Forward PE - | Enterprise Value 286114277 | Price to Sales(TTM) 0.33 |
Enterprise Value 286114277 | Price to Sales(TTM) 0.33 | ||
Enterprise Value to Revenue 3.32 | Enterprise Value to EBITDA 5.72 | Shares Outstanding 4626200 | Shares Floating 1011796 |
Shares Outstanding 4626200 | Shares Floating 1011796 | ||
Percent Insiders 72.89 | Percent Institutions 6.69 |
Upturn AI SWOT
TOP Ships Inc.
Company Overview
History and Background
TOP Ships Inc. is a Greek-based international owner and operator of tanker vessels. Founded to transport crude oil and petroleum products worldwide, the company has navigated the cyclical nature of the shipping industry, adapting its fleet and strategies to maintain profitability and growth.
Core Business Areas
- Crude Oil Tankers: Transportation of crude oil across global routes, catering to major oil companies and traders.
- Product Tankers: Shipping of refined petroleum products such as gasoline, diesel, and jet fuel to various destinations.
Leadership and Structure
The leadership team consists of key executives responsible for strategic direction, financial management, and operational efficiency. The organizational structure is designed to facilitate effective fleet management and customer service.
Top Products and Market Share
Key Offerings
- Crude Oil Transportation: Transportation of crude oil using a fleet of modern tanker vessels. Market share is variable and dependent on fleet size and spot market rates. Competitors include DHT Holdings (DHT), Euronav (EURN), and Frontline (FRO).
- Refined Product Transportation: Transportation of refined petroleum products. Market share is variable and dependent on fleet size and spot market rates. Competitors include Scorpio Tankers (STNG), Ardmore Shipping Corporation (ASC), and Torm (TRMD).
Market Dynamics
Industry Overview
The tanker industry is highly cyclical, influenced by global oil supply and demand, geopolitical events, and fleet capacity. Factors such as OPEC production decisions, refinery output, and trade routes significantly impact shipping rates and profitability.
Positioning
TOP Ships Inc. operates in the spot market and time charter market, adapting its strategy based on prevailing market conditions. Competitive advantages include modern fleet and operational efficiency.
Total Addressable Market (TAM)
The global tanker shipping market is estimated at hundreds of billions of USD annually. TOP Ships Inc.'s positioning is dependent on how many vessels it owns, how much charter revenue it generates and what the utilization rates are for the vessels.
Upturn SWOT Analysis
Strengths
- Modern fleet
- Experienced management team
- Strategic location in Greece
- Focus on operational efficiency
Weaknesses
- High debt levels
- Small fleet size compared to major competitors
- Exposure to volatile spot market rates
- History of dilution
Opportunities
- Increasing global oil demand
- Scrapping of older vessels
- Expansion into new markets
- Adoption of new technologies
Threats
- Cyclical nature of the tanker industry
- Geopolitical risks
- Environmental regulations
- Competition from larger players
Competitors and Market Share
Key Competitors
- DHT
- EURN
- FRO
- STNG
- ASC
- TRMD
Competitive Landscape
TOP Ships Inc. faces intense competition from larger, more established players with greater financial resources. Its success depends on its ability to operate efficiently, secure favorable charter rates, and manage its debt effectively.
Growth Trajectory and Initiatives
Historical Growth: Historical growth has been inconsistent due to market volatility and strategic changes.
Future Projections: Future growth projections are uncertain and dependent on the company's ability to manage debt, secure favorable charter rates, and expand its fleet.
Recent Initiatives: Recent initiatives may include fleet expansion or upgrades, refinancing of debt, and strategic partnerships.
Summary
TOP Ships Inc. is a small player in a highly competitive and cyclical tanker market. The company's strengths include its modern fleet but faces challenges due to high debt, volatile revenues, and stock dilution. It needs to carefully manage its finances and capitalize on opportunities to expand its fleet and secure stable charter rates.
Peer Comparison
Sources and Disclaimers
Data Sources:
- Company filings (SEC)
- Industry reports
- Financial news sources
Disclaimers:
This analysis is based on available information and assumptions. Actual results may vary. This is not financial advice.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About TOP Ships Inc.
Exchange NASDAQ | Headquaters - | ||
IPO Launch date 2004-07-23 | CEO - | ||
Sector Energy | Industry Oil & Gas Midstream | Full time employees - | Website https://www.topships.org |
Full time employees - | Website https://www.topships.org |
Top Ships Inc. owns and operates tanker vessels in Greece and internationally. The company transports crude oil, petroleum products, and bulk liquid chemicals. As of December 31, 2024, 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 Athens, Greece.

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