EV-to-FCF is calculated as enterprise value divided by its free cash flow. As of today, TOP Ships's Enterprise Value is $200.73 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 for today is 11.72.
The historical rank and industry rank for TOP Ships's EV-to-FCF or its related term are showing as below:
TOPS'
s EV-to-FCF Range Over the Past 10 Years
Min: -2.44 Med: -1.47 Max: 17.01
Current: 11.72
During the past 13 years, the highest EV-to-FCF of TOP Ships was 17.01. The lowest was -2.44. And the median was -1.47.
TOPS's EV-to-FCF is ranked better than 62.56% of 577
companies
in the Oil & Gas industry
Industry Median: 15.67
vs TOPS: 11.72
EV-to-FCF 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-FCF 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 $0.81.
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. Free Cash Flow is an important financial metric because it represents the actual amount of cash at a company's disposal. Companies with a low EV-to-FCF ratio, combined with a strong balance sheet are generally considered as undervalued.
TOP Ships EV-to-FCF Related Terms
TOP Ships EV-to-FCF Historical Data
* Premium members only.
The historical data trend for TOP Ships's EV-to-FCF 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-FCF, along with its competitors' market caps and EV-to-FCF 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-FCF vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, TOP Ships's EV-to-FCF distribution charts can be found below:
* The bar in red indicates where TOP Ships's EV-to-FCF falls into.
TOP Ships's current Enterprise Value is $200.73 Mil.
For company reported semi-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 (TOPS) has a EV-to-FCF of 11.72 as of Jun. 25, 2026. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on TOP Ships and its competitors. According to the industry distribution chart, TOP Ships ranks #216 out of 577 companies in the Oil & Gas industry, placing it in the top 37.4%.
Is TOP Ships' EV-to-FCF too high?
TOP Ships' current EV-to-FCF is 11.72. The Oil & Gas industry median EV-to-FCF is 15.67. TOP Ships' value of 11.72 is 25.2% below this industry median. Based on the distribution chart, TOP Ships ranks #216 out of 577 companies in the Oil & Gas industry, which is above 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-FCF compare to RBNE and CWPE?
According to the Oil & Gas industry distribution chart, TOP Ships ranks #216 out of 577 companies for EV-to-FCF. This puts TOP Ships in the upper half of its industry. The industry median EV-to-FCF is 15.67. TOP Ships' value of 11.72 is 25.2% below this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-FCF for an Oil & Gas company?
The median EV-to-FCF among Oil & Gas companies is 15.67, based on 577 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-FCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-FCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. TOP Ships's current EV-to-FCF of 11.72 is 25.2% below 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-FCF mean?
A high EV-to-FCF can signal that a stock is expensive relative to its fundamentals. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on TOP Ships and its competitors. For the Oil & Gas industry, the median EV-to-FCF is 15.67 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. TOP Ships's current EV-to-FCF is 11.72. 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 $4.23, compared to a current price of $0.81 — trading 80.9% below its estimated fair value. The current EV-to-FCF is 11.72 and 25.2% below the Oil & Gas industry median of 15.67. 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-FCF calculated?
EV-to-FCF is calculated from a company's financial statements. For TOP Ships (TOPS), the current EV-to-FCF is 11.72 as of Jun. 25, 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 $0.81 is trading 80.9% below its estimated GF Value™ of $4.23.
GuruFocus considers TOP Ships to be Possible Value Trap.
Key valuation signals for TOPS:
EV-to-FCF: 11.72
GF Value™: $4.23 vs. price of $0.81 (80.9% below fair value)
Industry Position: 25.2% below the Oil & Gas median (#216 of 577)
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-FCF is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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