TOP ShipsTOPS -0.61%49 PB Ratio is 0.04 as of Jun. 30, 2026, which is 78% below its 10-year median of 0.18. GuruFocus rates TOPS with a GF Score™ of 49/100 and a GF Value™ of $4.23 (Possible Value Trap). The stock has 6 warning signs investors should review. Among 926 Oil & Gas companies, TOP Ships ranks better than 99.78% on this metric.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. As of today (2026-06-30), TOP Ships's share price is $0.7703. TOP Ships's Book Value per Share for the quarter that ended in Dec. 2025 was $19.28. Hence, TOP Ships's PB Ratio of today is 0.04.
Good Sign:
TOP Ships Inc stock PB Ratio (=0.04) is close to 3-year low of 0.04.
The historical rank and industry rank for TOP Ships's PB Ratio or its related term are showing as below:
TOPS'
s PB Ratio Range Over the Past 10 Years
Min: 0.01 Med: 0.18 Max: 1.21
Current: 0.04
During the past 13 years, TOP Ships's highest PB Ratio was 1.21. The lowest was 0.01. And the median was 0.18.
TOPS's PB Ratio is ranked better than 99.78% of 926
companies
in the Oil & Gas industry
Industry Median: 1.38
vs TOPS: 0.04
During the past 12 months, TOP Ships's average Book Value Per Share Growth Rate was -38.20% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was -46.90% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was -55.40% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of TOP Ships was -46.90% per year. The lowest was -88.60% per year. And the median was -63.60% per year.
The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.
TOP Ships PB Ratio Related Terms
TOP Ships PB Ratio Historical Data
* Premium members only.
The historical data trend for TOP Ships's PB Ratio 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 PB Ratio, along with its competitors' market caps and PB Ratio 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 PB Ratio vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, TOP Ships's PB Ratio distribution charts can be found below:
* The bar in red indicates where TOP Ships's PB Ratio falls into.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.
TOP Ships's PB Ratio for today is calculated as follows:
* 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.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.
TOP Ships (TOPS) has a PB Ratio of 0.04 as of Jun. 30, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on TOP Ships and its competitors. This is 78% below median its historical median of 0.18. Over the past decade, TOP Ships' PB Ratio has ranged from 0.01 to 1.21. According to the industry distribution chart, TOP Ships ranks #2 out of 926 companies in the Oil & Gas industry, placing it in the top 0.2%.
Is TOP Ships' PB Ratio too high?
TOP Ships' current PB Ratio of 0.04 is 78% below median its 10-year median of 0.18. Over the past 10 years, this metric has ranged from a low of 0.01 to a high of 1.21. The Oil & Gas industry median PB Ratio is 1.38. TOP Ships' value of 0.04 is 97.1% below this industry median. Based on the distribution chart, TOP Ships ranks #2 out of 926 companies in the Oil & Gas industry, which is in the top quartile — a strong position relative to peers. 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' PB Ratio compare to RBNE and CWPE?
According to the Oil & Gas industry distribution chart, TOP Ships ranks #2 out of 926 companies for PB Ratio. This places TOP Ships in the top 0% of its industry — outperforming the majority of peers. The industry median PB Ratio is 1.38. TOP Ships' value of 0.04 is 97.1% below this benchmark. Historically, TOP Ships' own PB Ratio has ranged from 0.01 to 1.21 over the past decade. While the company's 10-year median is 0.18 vs. the industry median of 1.38, TOP Ships has consistently been below 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 PB Ratio for an Oil & Gas company?
The median PB Ratio among Oil & Gas companies is 1.38, based on 926 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. TOP Ships's current PB Ratio of 0.04 is 97.1% 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 PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on TOP Ships and its competitors. For the Oil & Gas industry, the median PB Ratio is 1.38 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. TOP Ships's current PB Ratio is 0.04, which is 78% below median its own 10-year median of 0.18. 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 $0.77 — trading 81.8% below its estimated fair value. The current PB Ratio is 0.04, which is 78% below median its 10-year median of 0.18 and 97.1% below the Oil & Gas industry median of 1.38. 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 PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For TOP Ships (TOPS), the current PB Ratio is 0.04 as of Jun. 30, 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 $0.77 is trading 81.8% below its estimated GF Value™ of $4.23.
GuruFocus considers TOP Ships to be Possible Value Trap.
Key valuation signals for TOPS:
PB Ratio: 0.04 (78% below median its 10-year median of 0.18)
GF Value™: $4.23 vs. price of $0.77 (81.8% below fair value)
Industry Position: 97.1% below the Oil & Gas median (#2 of 926)
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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