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TOP ShipsTOPS -4.08%49 EV-to-EBITDA is 10.48 as of Jul. 18, 2026, which is 67% above its 10-year median of 6.27. GuruFocus rates TOPS with a GF Score™ of 49/100 and a GF Value™ of $4.19 (Possible Value Trap). The stock has 6 warning signs investors should review. Among 761 Oil & Gas companies, TOP Ships ranks worse than 66.75% on this metric.
EV-to-EBITDA is calculated as enterprise value divided by its EBITDA. As of today, TOP Ships's enterprise value is $200.40 Mil.
TOP Ships's EBITDA for the trailing twelve months (TTM) ended in Dec. 2025 was $19.12 Mil. Therefore, TOP Ships's EV-to-EBITDA for today is 10.48.
The historical rank and industry rank for TOP Ships's EV-to-EBITDA or its related term are showing as below:
TOPS'
s EV-to-EBITDA Range Over the Past 10 Years
Min: 4.86 Med: 6.27 Max: 18.42
Current: 10.48
During the past 13 years, the highest EV-to-EBITDA of TOP Ships was 18.42. The lowest was 4.86. And the median was 6.27.
TOPS's EV-to-EBITDA is ranked worse than 66.75% of 761
companies
in the Oil & Gas industry
Industry Median: 7.53
vs TOPS: 10.48
EV-to-EBITDA is a valuation multiple used in finance and investment to measure the value of a company. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio to determine the fair market value of a company.
The "classic" EV-to-EBITDA is much better in capturing debt and net cash than the PE Ratio (TTM).
TOP Ships (AMEX:TOPS) EV-to-EBITDA Explanation
EV-to-EBITDA is a valuation multiple used in finance and investment to measure the value of a company. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
TOP Ships's share price for today is $0.75.
For company reported semi-annually, GuruFocus uses latest annual data as the TTM data. TOP Ships's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Dec. 2025 was $0.670.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Study has found that the companies with the lowest EV-to-EBITDA outperforms companies measured as cheap by other ratios such as PE Ratio (TTM).
The historical data trend for TOP Ships's EV-to-EBITDA can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
TOPS vs RBNE, CWPE, MARPS: EV-to-EBITDA Comparison
For the Oil & Gas Midstream subindustry, TOP Ships's EV-to-EBITDA, along with its competitors' market caps and EV-to-EBITDA data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
TOP Ships EV-to-EBITDA vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, TOP Ships's EV-to-EBITDA distribution charts can be found below:
* The bar in red indicates where TOP Ships's EV-to-EBITDA falls into.
TOP Ships's current Enterprise Value is $200.40 Mil.
For company reported semi-annually, GuruFocus uses latest annual data as the TTM data. TOP Ships's EBITDA for the trailing twelve months (TTM) ended in Dec. 2025 was $19.12 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
TOP Ships (TOPS) has a EV-to-EBITDA of 10.48 as of Jul. 18, 2026. EV to EBITDA ratio is the company's enterprise value divided by earnings before interest, taxes, depreciation and amortization. View historical data on TOP Ships. This is 67% above median its historical median of 6.27. Over the past decade, TOP Ships' EV-to-EBITDA has ranged from 4.86 to 18.42. According to the industry distribution chart, TOP Ships ranks #508 out of 761 companies in the Oil & Gas industry, placing it in the top 66.8%.
Is TOP Ships' EV-to-EBITDA too high?
TOP Ships' current EV-to-EBITDA of 10.48 is 67% above median its 10-year median of 6.27. Over the past 10 years, this metric has ranged from a low of 4.86 to a high of 18.42. The Oil & Gas industry median EV-to-EBITDA is 7.53. TOP Ships' value of 10.48 is 39.2% above this industry median. Based on the distribution chart, TOP Ships ranks #508 out of 761 companies in the Oil & Gas industry, which is below the industry midpoint. Overall, TOP Ships has a GF Score™ of 49/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does TOP Ships' EV-to-EBITDA compare to RBNE and CWPE?
According to the Oil & Gas industry distribution chart, TOP Ships ranks #508 out of 761 companies for EV-to-EBITDA. This places TOP Ships in the lower half of its industry. The industry median EV-to-EBITDA is 7.53. TOP Ships' value of 10.48 is 39.2% above this benchmark. Historically, TOP Ships' own EV-to-EBITDA has ranged from 4.86 to 18.42 over the past decade. While the company's 10-year median is 6.27 vs. the industry median of 7.53, TOP Ships has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-EBITDA for an Oil & Gas company?
The median EV-to-EBITDA among Oil & Gas companies is 7.53, based on 761 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-EBITDA significantly above this median, while those in the bottom quartile fall well below. However, EV-to-EBITDA should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. TOP Ships's current EV-to-EBITDA of 10.48 is 39.2% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-EBITDA mean?
A high EV-to-EBITDA can signal that a stock is expensive relative to its fundamentals. EV to EBITDA ratio is the company's enterprise value divided by earnings before interest, taxes, depreciation and amortization. View historical data on TOP Ships. For the Oil & Gas industry, the median EV-to-EBITDA is 7.53 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. TOP Ships's current EV-to-EBITDA is 10.48, which is 67% above median its own 10-year median of 6.27. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is TOP Ships stock overvalued right now?
Based on GuruFocus' analysis, TOP Ships (TOPS) is currently considered Possible Value Trap. The stock's GF Value™ is $4.19, compared to a current price of $0.75 — trading 82.1% below its estimated fair value. The current EV-to-EBITDA is 10.48, which is 67% above median its 10-year median of 6.27 and 39.2% above the Oil & Gas industry median of 7.53. TOP Ships' overall GF Score™ is 49/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-EBITDA calculated?
EV-to-EBITDA is calculated from a company's financial statements. For TOP Ships (TOPS), the current EV-to-EBITDA is 10.48 as of Jul. 18, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is TOP Ships (TOPS) Overvalued in 2026?
Based on GuruFocus' analysis, TOP Ships stock appears to be undervalued.
The current stock price of $0.75 is trading 82.1% below its estimated GF Value™ of $4.19.
GuruFocus considers TOP Ships to be Possible Value Trap.
Key valuation signals for TOPS:
EV-to-EBITDA: 10.48 (67% above median its 10-year median of 6.27)
GF Value™: $4.19 vs. price of $0.75 (82.1% below fair value)
Industry Position: 39.2% above the Oil & Gas median (#508 of 761)
No single metric tells the full story. See the TOPS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
TOP Ships Inc owns tanker vessels throughout the world. The Company is an international owner and operator of modern, fuel-efficient eco-tanker vessels, focusing on the transportation of crude oil, petroleum products (both clean and dirty), and bulk liquid chemicals. It generates revenue from the Time Charter agreements. The company operates in two reportable segments: (i) the tanker segment and (ii) the megayacht segment.
49GF Score
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EV-to-EBITDA is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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