TOPS
TOP Ships Inc.
NYSE MKT: TOPS · ENERGY · OIL & GAS MIDSTREAM
$2.20
+4.27% today
Updated 2026-04-30
Market cap
$12.65M
P/E ratio
3.43
P/S ratio
0.16x
EPS (TTM)
$0.67
Dividend yield
—
52W range
$2 – $11
Volume
0.2M
TOP Ships Inc. (TOPS) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $310.04M | $252.26M | $257.38M | $107.98M | $90.88M | $41.69M | $31.43M | $20.07M | $3.60M | $13.07M | $28.43M | $39.36M | $41.05M | $66.09M | $60.22M | $56.37M | $80.66M | $82.95M | $86.13M | $80.42M |
| Revenue growth (YoY) | — | -18.6% | +2.0% | -58.0% | -15.8% | -54.1% | -24.6% | -36.1% | -82.1% | +263.0% | +117.5% | +38.4% | +4.3% | +61.0% | -8.9% | -6.4% | +43.1% | +2.8% | +3.8% | -6.6% |
| Cost of revenue | $71.68M | $246.54M | $169.49M | $42.54M | $7.05M | $9.47M | $13.21M | $7.79M | $1.96M | $12.26M | $21.99M | $28.13M | $29.41M | $37.44M | $35.35M | $35.87M | $44.41M | $34.48M | $48.45M | $43.47M |
| Gross profit | $238.36M | $5.72M | $87.89M | $65.44M | $83.82M | $32.22M | $18.22M | $12.28M | $1.64M | $811000.00 | $6.44M | $11.24M | $11.63M | $28.65M | $24.87M | $20.50M | $36.25M | $48.46M | $37.68M | $36.95M |
| Gross margin | 76.9% | 2.3% | 34.1% | 60.6% | 92.2% | 77.3% | 58.0% | 61.2% | 45.6% | 6.2% | 22.7% | 28.5% | 28.3% | 43.4% | 41.3% | 36.4% | 44.9% | 58.4% | 43.7% | 45.9% |
| R&D | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| SG&A | $168.91M | $23.00M | $31.47M | $23.84M | $31.00M | $29.64M | $9.51M | $4.66M | $3.09M | $4.87M | $2.91M | $5.80M | $15.52M | $12.41M | $9.51M | $1.94M | $1.62M | $8.90M | $7.51M | $7.62M |
| Operating income | $41.36M | $-29.12M | $61.72M | $-34.21M | $22.26M | $-7.27M | $-52.77M | $7.63M | $-588000.00 | $-4.33M | $4.85M | $1.62M | $-3.89M | $16.88M | $11.07M | $15.96M | $32.62M | $28.73M | $27.90M | $26.28M |
| Operating margin | 13.3% | -11.5% | 24.0% | -31.7% | 24.5% | -17.4% | -167.9% | 38.0% | -16.3% | -33.2% | 17.1% | 4.1% | -9.5% | 25.5% | 18.4% | 28.3% | 40.4% | 34.6% | 32.4% | 32.7% |
| EBITDA | $50.81M | $-1.07M | $100.33M | $37.43M | $51.03M | $-145.69M | $-42.43M | $14.65M | $4.20M | $-7.02M | $7.47M | $7.00M | $5.03M | $15.46M | $11.12M | $23.64M | $43.95M | $42.09M | $50.05M | $41.06M |
| EBITDA margin | 16.4% | -0.4% | 39.0% | 34.7% | 56.2% | -349.4% | -135.0% | 73.0% | 116.5% | -53.7% | 26.3% | 17.8% | 12.3% | 23.4% | 18.5% | 41.9% | 54.5% | 50.7% | 58.1% | 51.1% |
| EBIT | $15.21M | $-29.12M | $61.72M | $2.43M | $15.22M | $-172.84M | $-54.94M | $7.89M | $3.32M | $-7.81M | $3.88M | $1.14M | $-1.73M | $3.02M | $-2.10M | $15.96M | $30.66M | $27.75M | $26.90M | $19.12M |
| Interest expense | $29.18M | $19.52M | $25.76M | $13.97M | $14.78M | $16.27M | $9.05M | $6.48M | $422000.00 | $693000.00 | $3.09M | $15.79M | $9.66M | $17.80M | $20.72M | $8.20M | $14.37M | $22.99M | $21.87M | $16.03M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Effective tax rate | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net income | $-11.01M | $-49.08M | $25.64M | $-50.20M | $2.51M | $-189.11M | $-63.98M | $1.41M | $2.90M | $-8.51M | $1.05M | $-13.38M | $-11.13M | $-14.77M | $-22.82M | $8.62M | $18.95M | $6.07M | $5.03M | $3.09M |
| Net income growth (YoY) | — | -345.9% | +152.2% | -295.8% | +105.0% | -7625.3% | +66.2% | +102.2% | +105.7% | -393.8% | +112.4% | -1371.6% | +16.8% | -32.7% | -54.5% | +137.8% | +119.9% | -68.0% | -17.0% | -38.7% |
| Profit margin | -3.5% | -19.5% | 10.0% | -46.5% | 2.8% | -453.6% | -203.6% | 7.0% | 80.4% | -65.1% | 3.7% | -34.0% | -27.1% | -22.4% | -37.9% | 15.3% | 23.5% | 7.3% | 5.8% | 3.8% |