Top Ships (TOPS) AI Stock Analysis

• Market Cap: $27.78M
• Dividend Yield: N/A
• Average Volume (3M): 8.46K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.99
• Revenue Growth: 1.10%
• EPS Growth: -180.19%
• Country: US
• Employees: 4
• Sector: Industrials
• Sector Strength: 72
• Industry: Fossil Fuels
• EPS (TTM): -4.91
• Shares Outstanding: 4,626,197
• 10 Day Avg. Volume: 10,147
• 30 Day Avg. Volume: 8,465
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): 0.34
• Price to Cash Flow (P/CF): N/A
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0

Top Ships' overall score reflects mixed financial performance with strong cash flow management but high leverage and fluctuating profitability. Technical indicators suggest a bearish trend, while lack of profitability impacts valuation. Absence of earnings call insights adds uncertainty to future outlook.

Top Ships Business Overview & Revenue Model

Company Description

Top Ships Inc. is a global shipping company primarily involved in the seaborne transportation of petroleum products and crude oil. Operating within the maritime industry, Top Ships specializes in the ownership, operation, and management of modern, technologically advanced tanker vessels. The company is known for its focus on the efficient and safe transportation of liquid cargoes, serving international oil companies and refiners.

How the Company Makes Money

Top Ships generates revenue primarily through long-term and spot charters of its tanker vessels. The company leases its vessels to oil majors, traders, and other participants in the oil industry who need to transport crude oil and refined petroleum products across the globe. Revenue is influenced by charter rates, which are subject to market conditions, vessel availability, and global trade flows. Additionally, Top Ships may enter into strategic partnerships and agreements with major players in the shipping and oil industries to enhance its earnings potential.

Top Ships Financial Statement Overview

Summary

Top Ships shows moderate revenue growth and strong operational efficiency with a high gross profit margin. However, the company's high leverage and volatility in net profit margin indicate challenges in profitability and financial stability.

Income Statement

Top Ships shows moderate revenue growth with a 2.8% increase in 2023. The gross profit margin improved to 58.4% indicating strong operational efficiency, but net profit margin dropped significantly from 50.7% in 2022 to 7.3% in 2023, highlighting challenges in controlling non-operating expenses or increased costs. The EBIT margin also improved to 34.6%, suggesting better core business operations. However, the volatility in net income suggests instability in profitability.

Balance Sheet

The company maintains a high debt-to-equity ratio of 1.42, reflecting significant leverage, which poses a risk during periods of financial stress. Return on equity reduced to 3.3%, indicating less efficient use of equity compared to previous years. The equity ratio stands at 39.9%, which shows a moderate reliance on equity financing, suggesting a balanced capital structure but with a tilt towards debt.

Cash Flow

Top Ships improved its cash flow position with a positive free cash flow of $28.9 million in 2023. The operating cash flow to net income ratio is favorable at 4.77, indicating strong cash generation relative to net income. The free cash flow growth rate is also positive, reflecting better operational cash management. However, reliance on debt financing in previous periods remains a concern.

Breakdown
Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019
Income Statement		Total Revenue
82.95M	80.66M	56.37M	60.22M	66.09M
	Gross Profit
48.46M	36.25M	20.50M	24.87M	28.65M
	EBIT
28.73M	11.37M	1.08M	11.07M	16.88M
	EBITDA
43.08M	52.52M	23.64M	11.66M	29.32M
	Net Income Common Stockholders
6.07M	40.89M	16.50M	-44.25M	-33.35M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
35.96M	20.54M	2.37M	19.33M	4.41M
	Total Assets
459.19M	469.34M	330.79M	293.03M	444.89M
	Total Debt
260.83M	278.62M	184.33M	147.71M	309.01M
	Net Debt
224.88M	258.07M	181.96M	128.38M	304.60M
	Total Liabilities
275.81M	272.31M	237.57M	158.81M	339.13M
	Stockholders Equity
183.38M	197.02M	93.22M	134.22M	105.76M
Cash Flow		Free Cash Flow
28.93M	-183.29M	-99.45M	-114.78M	-184.04M
	Operating Cash Flow
28.93M	33.42M	16.06M	6.04M	19.19M
	Investing Cash Flow
2.52M	-142.66M	-76.65M	181.29M	-203.27M
	Financing Cash Flow
-16.04M	127.41M	43.63M	-177.28M	189.68M

Top Ships Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 6.00
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TOPS, the sentiment is Negative. The current price of 6 is below the 20-day moving average (MA) of 6.02, below the 50-day MA of 6.30, and below the 200-day MA of 8.59, indicating a bearish trend. The MACD of -0.07 indicates Negative momentum. The RSI at 44.82 is Neutral, neither overbought nor oversold. The STOCH value of 62.26 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TOPS.

Top Ships Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ESEA	81 Outperform	$228.97M	2.02	35.83%	7.33%	13.90%	3.21%
SBLK	77 Outperform	$1.88B	5.63	14.71%	15.87%	33.31%	62.94%
GOGL	73 Outperform	$1.56B	7.37	11.68%	14.58%	14.81%	96.97%
Sector *	62 Neutral	$8.16B	12.85	0.64%	3.04%	3.83%	-15.83%
TOPS	60 Neutral	$27.78M	―	1.36%	―	1.10%	-180.19%