TOPS (TOP Ships) ROCE %: 0.93% (As of Dec. 2025)


TOPS TOP Ships Inc TOPS
49 GF Score
Price $0.91
GF Value $4.24
Valuation Possible Value Trap
! 6 Warning Signs
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What is TOP Ships ROCE %?

TOP Ships TOPS +1.80% 49 ROCE % is 0.93% as of Dec. 2025. GuruFocus rates TOPS with a GF Score™ of 49/100 and a GF Value™ of $4.24 (Possible Value Trap). The stock has 6 warning signs investors should review.

ROCE % measures how well a company generates profits from its capital. It is calculated as EBIT divided by Capital Employed, where Capital Employed is calculated as Total Assets minus Total Current Liabilities. TOP Ships's annualized ROCE % for the quarter that ended in Dec. 2025 was 0.93%.

TOP Ships  (AMEX:TOPS) ROCE % Explanation

ROCE % can be especially useful when comparing the performance of capital-intensive companies. Unlike ROE %, which indicates the profitability of Shareholders Equity, ROCE % also considers long-term debt in Capital Employed. This can be helpful when analyzing companies with significant debt, as the result is neutralized by taking debt into consideration.

Generally speaking, a higher ROCE % indicates a stonger profitability for a company. Moreover, it is important to look at the ratio from a long term perspective. Investors tend to favor companies with stable and rising ROCE % trend over those with volatile ones.

TOP Ships ROCE % Related Terms

TOP Ships ROCE % Historical Data

* Premium members only.

The historical data trend for TOP Ships's ROCE % 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.

TOP Ships ROCE % Chart

TOP Ships Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
ROCE %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 6.01 9.28 6.49 6.66 5.59

TOP Ships Semi-Annual Data
Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
ROCE % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 5.67 7.20 6.22 9.16 0.93
TOPS
49GF Score
TOP Ships Inc TOPS
ROCE % is just one metric. See GF Score™, valuation, warning signs, and more.
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TOP Ships ROCE % Calculation

TOP Ships's annualized ROCE % for the fiscal year that ended in Dec. 2025 is calculated as:

ROCE %=EBIT/( (Capital Employed+Capital Employed)/ count )
(A: Dec. 2025 )  (A: Dec. 2024 )(A: Dec. 2025 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(A: Dec. 2025 )  (A: Dec. 2024 )(A: Dec. 2025 )
=19.119/( ( (422.772 - 33.194) + (333.609 - 39.554) )/ 2 )
=19.119/( (389.578+294.055)/ 2 )
=19.119/341.8165
=5.59 %

TOP Ships's ROCE % of for the quarter that ended in Dec. 2025 is calculated as:

ROCE %=EBIT (1)/( (Capital Employed+Capital Employed)/ count )
(Q: Dec. 2025 )  (Q: Jun. 2025 )(Q: Dec. 2025 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(Q: Dec. 2025 )  (Q: Jun. 2025 )(Q: Dec. 2025 )
=3.128/( ( (425.995 - 49.014) + (333.609 - 39.554) )/ 2 )
=3.128/( ( 376.981 + 294.055 )/ 2 )
=3.128/335.518
=0.93 %

(1) Note: The EBIT data used here is two times the semi-annual (Dec. 2025) EBIT data.

* 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.

Frequently Asked Questions Learn more about ROCE % →
What does a ROCE % of 0.93% mean?
TOP Ships (TOPS) has a ROCE % of 0.93% as of Dec. 2025.
Is TOP Ships' ROCE % too high?
TOP Ships' current ROCE % is 0.93%. The Oil & Gas industry median ROCE % is 6.79. TOP Ships' value of 0.93% is 86.3% below this industry median. 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' ROCE % compare to RBNE and CWPE?
TOP Ships' ROCE % of 0.93% can be compared against companies in the Oil & Gas industry. The industry median ROCE % is 6.79. TOP Ships' value of 0.93% is 86.3% 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 ROCE % for an Oil & Gas company?
The median ROCE % among Oil & Gas companies is 6.79, based on 977 companies in the industry. Companies in the top quartile (top 25%) have a ROCE % significantly above this median, while those in the bottom quartile fall well below. However, ROCE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. TOP Ships's current ROCE % of 0.93% is 86.3% 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 ROCE % mean?
A high ROCE % can signal that a stock is expensive relative to its fundamentals. For the Oil & Gas industry, the median ROCE % is 6.79 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. TOP Ships's current ROCE % is 0.93%. 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 ROCE % is 0.93% and 86.3% below the Oil & Gas industry median of 6.79. 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 ROCE % calculated?
ROCE % is calculated from a company's financial statements. For TOP Ships (TOPS), the current ROCE % is 0.93% as of Dec. 2025. 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:

  • ROCE %: 0.93%
  • GF Value™: $4.24 vs. price of $0.91 (78.6% below fair value)
  • GF Score™: 49/100 with 6 warning signs
  • Industry Position: 86.3% below the Oil & Gas median

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 Business Description

Industry EnergyOil & Gas
Other Exchanges UER0:Germany
Address 20 Iouliou Kaisara Street, Paiania, Athens, GRC, 19002
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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ROCE % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$0.91
Price
$4.24
GF Value