Think of Enterprise Value as the theoretical takeover price. It is more comprehensive than market capitalization (Market Cap), which only includes common equity. Enterprise Value is calculated as the market cap plus debt and minority interest and preferred shares, minus total cash, cash equivalents, and marketable securities.
EV-to-EBIT is calculated as Enterprise Value divided by its EBIT. As of today, TOP Ships's Enterprise Value is $201.27 Mil.
TOP Ships's EBIT for the trailing twelve months (TTM) ended in Dec. 2025 was $19.12 Mil. Therefore, TOP Ships's EV-to-EBIT ratio for today is 10.53.
EV-to-EBITDA is calculated as Enterprise Value divided by its EBITDA. As of today, TOP Ships's Enterprise Value is $201.27 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 ratio for today is 10.53.
EV-to-Revenue is calculated as Enterprise Value divided by its Revenue. As of today, TOP Ships's Enterprise Value is $201.27 Mil.
TOP Ships's Revenue for the trailing twelve months (TTM) ended in Dec. 2025 was $80.42 Mil. Therefore, TOP Ships's EV-to-Revenue ratio for today is 2.50.
EV-to-FCF is calculated as Enterprise Value divided by its Free Cash Flow. As of today, TOP Ships's Enterprise Value is $201.27 Mil.
TOP Ships's Free Cash Flow for the trailing twelve months (TTM) ended in Dec. 2025 was $17.12 Mil. Therefore, TOP Ships's EV-to-FCF ratio for today is 11.76.
*** Please note that the current Enterprise Value is calculated using the current market capitalization and the most recently available financial data. If key financial fields—Long-Term Debt & Capital Lease Obligation and Short-Term Debt & Capital Lease Obligation—are recorded as null in the latest reporting period, our data vendor will default to using data from the prior period with valid entries.
TOP Ships (AMEX:TOPS) Enterprise Value Explanation
When an investor buy a company, the investor needs to pay not only the common shares, he/she also needs to pay the shareholders of Preferred Stocks. He also assumes the debt of the company, and receives the cash on the company's balance sheet.
If a company has more cash than debt, the investor actually pays less than the Market Cap because he immediately owns the cash once the transaction goes through.
The market value of Preferred Stock needs to be added to the market value of common stocks in the calculation of Enterprise Value.
For the companies with the same Market Cap, the smaller the Enterprise Value is, the cheaper the company is.
Enterprise Value can be negative when the company's net cash is more than its Market Cap. In this case the investor is basically getting the company for free and get paid for that.
1. EV-to-EBIT is calculated as Enterprise Value divided by its EBIT.
TOP Ships's current Enterprise Value is $201.27 Mil.
For company reported semi-annually or annually, GuruFocus uses latest annual data as the TTM data. TOP Ships's EBIT for the trailing twelve months (TTM) ended in Dec. 2025 was $19.12 Mil.
2. EV-to-EBITDA is calculated as Enterprise Value divided by its EBITDA.
TOP Ships's current Enterprise Value is $201.27 Mil.
For company reported semi-annually or 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.
TOP Ships's current Enterprise Value is $201.27 Mil.
For company reported semi-annually or annually, GuruFocus uses latest annual data as the TTM data. TOP Ships's Revenue for the trailing twelve months (TTM) ended in Dec. 2025 was $80.42 Mil.
TOP Ships's current Enterprise Value is $201.27 Mil.
For company reported semi-annually or 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.
TOP Ships's current Enterprise Value is $201.27 Mil.
For company reported semi-annually or annually, GuruFocus uses latest annual data as the TTM data. TOP Ships's Free Cash Flow for the trailing twelve months (TTM) ended in Dec. 2025 was $17.12 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 Enterprise Value Related Terms
TOP Ships Enterprise Value Historical Data
* Premium members only.
The historical data trend for TOP Ships's Enterprise Value 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: Enterprise Value Comparison
For the Oil & Gas Midstream subindustry, TOP Ships's Enterprise Value, along with its competitors' market caps and Enterprise Value 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 Enterprise Value vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, TOP Ships's Enterprise Value distribution charts can be found below:
* The bar in red indicates where TOP Ships's Enterprise Value falls into.
Enterprise Value is calculated as the market cap plus debt and minority interest and preferred shares, minus total cash, cash equivalents, and marketable securities.
TOP Ships's Enterprise Value for the fiscal year that ended in Dec. 2025 is calculated as
* 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 Enterprise Value of $201.27 Mil as of Jun. 24, 2026. Enterprise value equals the sum of market cap, debt and preferred shares less cash and equivalents. View historical data on TOP Ships and its competitors.
Is TOP Ships' Enterprise Value too high?
TOP Ships' current Enterprise Value is $201.27 Mil. 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' Enterprise Value compare to RBNE and CWPE?
TOP Ships' Enterprise Value of $201.27 Mil can be compared against companies in the Oil & Gas industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Enterprise Value for an Oil & Gas company?
A good Enterprise Value depends on the Oil & Gas industry context. However, Enterprise Value should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Enterprise Value mean?
A high Enterprise Value can signal that a stock is expensive relative to its fundamentals. Enterprise value equals the sum of market cap, debt and preferred shares less cash and equivalents. View historical data on TOP Ships and its competitors. TOP Ships's current Enterprise Value is $201.27 Mil. 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 $4.24, compared to a current price of $0.91 — trading 78.6% below its estimated fair value. The current Enterprise Value is $201.27 Mil. 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 Enterprise Value calculated?
Enterprise Value is calculated from a company's financial statements. For TOP Ships (TOPS), the current Enterprise Value is $201.27 Mil as of Jun. 24, 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 $0.91 is trading 78.6% below its estimated GF Value™ of $4.24.
GuruFocus considers TOP Ships to be Possible Value Trap.
Key valuation signals for TOPS:
Enterprise Value: $201.27 Mil
GF Value™: $4.24 vs. price of $0.91 (78.6% below fair value)
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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