Stocks Consumer discretionary TOPS
NYSE · Consumer discretionaryTop Ships Inc. (TOPS)
Top Ships Inc. reported revenue of $80.4M in fiscal 2025. Net income was $3.1M, a net margin of 3.8%. At December 31, 2025 it held $20.4M in cash against $216.6M of debt. Its latest periodic report to the SEC is the annual report (foreign issuer) (20-F) filed on April 1, 2026.
Key facts about Top Ships Inc.
- Net worth
- Top Ships Inc. has a market value (market cap) of $16.7M at the latest share price, and shareholders' equity of $89.2M on its balance sheet at December 31, 2025. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
- Revenue and profit
- In fiscal 2025 revenue was $80.4M (-0.3% year on year), with net income of $3.1M.
- Cash flow
- In fiscal 2025 operations brought in $26.4M of cash.
- Latest report
- The latest periodic report (annual report (foreign issuer), 20-F) was filed with the SEC on April 1, 2026 and covers the period to December 31, 2025. Open on SEC EDGAR
What Top Ships Inc. does
Top Ships Inc. is registered with the SEC under industry code SIC 4412 (Deep Sea Foreign Transportation of Freight). Its shares trade on NYSE under the ticker TOPS.
Revenue and profit by year
Key figures
| Fiscal year | Revenue | Net income | Diluted EPS | Free cash flow |
|---|---|---|---|---|
| 2025 | $80.4M | $3.1M | $0.67 | n/a |
| 2024 | n/a | $5M | $1.09 | n/a |
| 2023 | n/a | -$22.4M | -$12.44 | n/a |
| 2022 | $80.7M | -$9.2M | -$36.34 | n/a |
| 2021 | $56.4M | $5.4M | $32.51 | $16.1M |
| 2020 | $60.2M | -$28.8M | -$293.67 | $6M |
Earnings: every quarter and the next report date
Full financial statements: income, balance sheet and cash flow
Where TOPS ranks in Consumer discretionary
Latest SEC filings
What Top Ships Inc. has filed recently, newest first. Each links to the original document on SEC EDGAR.
- October 1, 2026
- September 24, 2026Activist stake changed SCHEDULE 13D/A
- September 22, 2026
- September 21, 2026Activist stake changed SCHEDULE 13D/A
- September 17, 2026
- September 15, 2026
- August 17, 2026
- July 28, 2026
- July 27, 2026
- July 22, 2026
Insider trades
What the people running Top Ships Inc. did with its shares, from the Form 4 filings they must send the SEC within two business days.
No insider trades were reported in the last 90 days.
Who owns TOPS
Three views from three kinds of SEC filings, each with its own date. They overlap and are not added up.
5% holders
| Holder | Of class | Filed |
|---|---|---|
| The Lax Trust13D, may seek influence with 2 related filers | 63.36% | December 6, 2023 |
| Family Trading Inc.13D, may seek influence with 2 related filers | 23.71% | September 24, 2026 |
Largest institutional holders
Insiders
Questions about TOPS
What does Top Ships Inc. do?
Top Ships Inc. is a company in the Consumer discretionary sector, listed on NYSE as TOPS. Its shares trade on NYSE under the ticker TOPS.
What is Top Ships Inc.'s net worth?
Top Ships Inc. has a market value (market cap) of $16.7M at the latest share price, and shareholders' equity of $89.2M on its balance sheet at December 31, 2025. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
Is Top Ships Inc. profitable?
Yes. In fiscal 2025 it reported net income of $3.1M on revenue of $80.4M, a net margin of 3.8%.
How much revenue does Top Ships Inc. make?
In fiscal 2025 Top Ships Inc. reported revenue of $80.4M.
When did Top Ships Inc. last report?
Its most recent periodic report is the annual report (foreign issuer) (20-F) filed on April 1, 2026. It covers the period to December 31, 2025. Its newest filing of any kind is the foreign issuer update from October 1, 2026.
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Where the numbers come from
Financial figures are the values Top Ships Inc. tagged in its own SEC filings (XBRL), taken from the latest filing for each period, so restatements replace older figures. Revenue, profit and cash flow are for full fiscal years unless marked as the last twelve months, which is the sum of the four most recent quarters. Where a company reports only the full year, the fourth quarter is the year minus the first three.
Prices are delayed end-of-day market data in the listing currency, and market cap moves with the price. P/E is shown only when earnings per share are positive. Nothing here is investment advice.