Top Ships Inc. (TOPS)
Energy · ASE
Fundamentals
Valuation and ratings
Top Ships Inc. trades at USD0.78, which is 121% below the USD1.72 our discounted cash flow model puts on the business. On that measure alone it screens as undervalued, though a DCF is an argument rather than a measurement, and the market is frequently right about why something is cheap.
Our moat model scores it 30 out of 100, which is little in the way of a moat. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 1.2 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
TOPS dividend history
Dividends per share by year
| Year | Total per share | Payments |
|---|---|---|
| 2006 | USD349725588900000.00 | 3 |
| 2005 | USD39916800000000.00 | 4 |
| 2004 | USD9525599900000.00 | 1 |
Split-adjusted amounts in the listing currency, grouped by the calendar year of the ex-dividend date, from the filed record. Growth and streak figures compare complete years only.
About Top Ships Inc.
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, 2025, it had a fleet with a total capacity of 857,000 deadweight tonnes (dwt) consisting of one 50,000 dwt product/chemical tanker, one 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.
TOPS passes 1 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Common questions
Is Top Ships Inc. (TOPS) undervalued?
Against our discounted cash flow estimate of USD1.72, TOPS at USD0.78 is 121% below fair value. That is one model's answer, not a recommendation, and most of a DCF's output sits in a terminal value nobody can forecast.
What is TOPS's P/E ratio?
TOPS trades at 1.2 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
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Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.