Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.
TOP Ships's operating assets for the quarter that ended in Dec. 2025 was $313.24 Mil. TOP Ships's operating liabilities for the quarter that ended in Dec. 2025 was $27.81 Mil. TOP Ships's Total Assets for the quarter that ended in Jun. 2025 was $426.00 Mil. Therefore, TOP Ships's scaled net operating assets (SNOA) for the quarter that ended in Dec. 2025 was 0.67.
TOP Ships Scaled Net Operating Assets Related Terms
TOP Ships Scaled Net Operating Assets Historical Data
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The historical data trend for TOP Ships's Scaled Net Operating Assets 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: Scaled Net Operating Assets Comparison
For the Oil & Gas Midstream subindustry, TOP Ships's Scaled Net Operating Assets, along with its competitors' market caps and Scaled Net Operating Assets 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 Scaled Net Operating Assets vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, TOP Ships's Scaled Net Operating Assets distribution charts can be found below:
* The bar in red indicates where TOP Ships's Scaled Net Operating Assets falls into.
* 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.
What does a Scaled Net Operating Assets of 0.67 mean?
TOP Ships (TOPS) has a Scaled Net Operating Assets of 0.67 as of Dec. 2025. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on TOP Ships and its competitors.
Is TOP Ships' Scaled Net Operating Assets too high?
TOP Ships' current Scaled Net Operating Assets is 0.67. 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' Scaled Net Operating Assets compare to RBNE and CWPE?
TOP Ships' Scaled Net Operating Assets of 0.67 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 Scaled Net Operating Assets for an Oil & Gas company?
A good Scaled Net Operating Assets depends on the Oil & Gas industry context. However, Scaled Net Operating Assets 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 Scaled Net Operating Assets mean?
A high Scaled Net Operating Assets can signal that a stock is expensive relative to its fundamentals. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on TOP Ships and its competitors. TOP Ships's current Scaled Net Operating Assets is 0.67. 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 78.7% below its estimated fair value. The current Scaled Net Operating Assets is 0.67. 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 Scaled Net Operating Assets calculated?
Scaled Net Operating Assets is calculated from a company's financial statements. For TOP Ships (TOPS), the current Scaled Net Operating Assets is 0.67 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 78.7% below its estimated GF Value™ of $4.24.
GuruFocus considers TOP Ships to be Possible Value Trap.
Key valuation signals for TOPS:
Scaled Net Operating Assets: 0.67
GF Value™: $4.24 vs. price of $0.91 (78.7% 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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