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TOP ShipsTOPS +1.96%49 EV-to-OCF is 7.59 as of Jul. 27, 2026, which is 47% below its 10-year median of 14.31. GuruFocus rates TOPS with a GF Score™ of 49/100 and a GF Value™ of $4.17 (Possible Value Trap). The stock has 6 warning signs investors should review. Among 1,019 Oil & Gas companies, TOP Ships ranks worse than 58.98% on this metric.
EV-to-OCF is calculated as enterprise value divided by its cash flow from operations. As of today, TOP Ships's Enterprise Value is $200.65 Mil.
TOP Ships's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2025 was $26.43 Mil. Therefore, TOP Ships's EV-to-OCF for today is 7.59.
The historical rank and industry rank for TOP Ships's EV-to-OCF or its related term are showing as below:
TOPS'
s EV-to-OCF Range Over the Past 10 Years
Min: 7.56 Med: 14.31 Max: 35.55
Current: 7.59
During the past 13 years, the highest EV-to-OCF of TOP Ships was 35.55. The lowest was 7.56. And the median was 14.31.
TOPS's EV-to-OCF is ranked worse than 58.98% of 1019
companies
in the Oil & Gas industry
Industry Median: 5.92
vs TOPS: 7.59
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. 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.
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. 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 $0.7953.
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.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Cash Flow from Operations is an important financial metric because it represents the cash generated from operating activities at a company's disposal. Companies with a low EV-to-OCF ratio, combined with a strong balance sheet are generally considered as undervalued.
TOP Ships EV-to-OCF Related Terms
TOP Ships EV-to-OCF Historical Data
* Premium members only.
The historical data trend for TOP Ships's EV-to-OCF 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.
For the Oil & Gas Midstream subindustry, TOP Ships's EV-to-OCF, along with its competitors' market caps and EV-to-OCF 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-OCF vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, TOP Ships's EV-to-OCF distribution charts can be found below:
* The bar in red indicates where TOP Ships's EV-to-OCF falls into.
TOP Ships's current Enterprise Value is $200.65 Mil.
For company reported semi-annually, GuruFocus uses latest annual data as the TTM data. TOP Ships's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2025 was $26.43 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-OCF of 7.59 as of Jul. 27, 2026. This is 47% below median its historical median of 14.31. Over the past decade, TOP Ships' EV-to-OCF has ranged from 7.56 to 35.55. According to the industry distribution chart, TOP Ships ranks #601 out of 1019 companies in the Oil & Gas industry, placing it in the top 59%.
Is TOP Ships' EV-to-OCF too high?
TOP Ships' current EV-to-OCF of 7.59 is 47% below median its 10-year median of 14.31. Over the past 10 years, this metric has ranged from a low of 7.56 to a high of 35.55. The Oil & Gas industry median EV-to-OCF is 5.92. TOP Ships' value of 7.59 is 28.2% above this industry median. Based on the distribution chart, TOP Ships ranks #601 out of 1019 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-OCF compare to RBNE and CWPE?
According to the Oil & Gas industry distribution chart, TOP Ships ranks #601 out of 1019 companies for EV-to-OCF. This places TOP Ships in the lower half of its industry. The industry median EV-to-OCF is 5.92. TOP Ships' value of 7.59 is 28.2% above this benchmark. Historically, TOP Ships' own EV-to-OCF has ranged from 7.56 to 35.55 over the past decade. While the company's 10-year median is 14.31 vs. the industry median of 5.92, 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-OCF for an Oil & Gas company?
The median EV-to-OCF among Oil & Gas companies is 5.92, based on 1,019 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-OCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-OCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. TOP Ships's current EV-to-OCF of 7.59 is 28.2% 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-OCF mean?
A high EV-to-OCF can signal that a stock is expensive relative to its fundamentals. For the Oil & Gas industry, the median EV-to-OCF is 5.92 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. TOP Ships's current EV-to-OCF is 7.59, which is 47% below median its own 10-year median of 14.31. 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 $4.17, compared to a current price of $0.80 — trading 80.9% below its estimated fair value. The current EV-to-OCF is 7.59, which is 47% below median its 10-year median of 14.31 and 28.2% above the Oil & Gas industry median of 5.92. 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-OCF calculated?
EV-to-OCF is calculated from a company's financial statements. For TOP Ships (TOPS), the current EV-to-OCF is 7.59 as of Jul. 27, 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 $0.80 is trading 80.9% below its estimated GF Value™ of $4.17.
GuruFocus considers TOP Ships to be Possible Value Trap.
Key valuation signals for TOPS:
EV-to-OCF: 7.59 (47% below median its 10-year median of 14.31)
GF Value™: $4.17 vs. price of $0.80 (80.9% below fair value)
Industry Position: 28.2% above the Oil & Gas median (#601 of 1019)
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-OCF is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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