Top Ships Inc. income statement TOPS
In fiscal 2025, which ended Dec 31, 2025, Top Ships Inc. reported revenue of $80.4 million. Net income was $3.1 million, a profit margin of 3.8%. Operating income came to $26.3 million, an operating margin of 32.7%. Diluted earnings per share were $0.67. Across the 10 fiscal years shown, revenue grew from $3.6 million in fiscal 2014 to $80.4 million in fiscal 2025, about 41.2% a year.
USD in millions, except per-share amounts and margins. The percent under a figure is the change from the year before.
| Line |
FY 2025
Dec 31, 2025
|
FY 2022
Dec 31, 2022
|
FY 2021
Dec 31, 2021
|
FY 2020
Dec 31, 2020
|
FY 2019
Dec 31, 2019
|
FY 2018
Dec 31, 2018
|
FY 2017
Dec 31, 2017
|
FY 2016
Dec 31, 2016
|
FY 2015
Dec 31, 2015
|
FY 2014
Dec 31, 2014
|
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue |
80
|
81
+43.1%
|
56
-6.4%
|
60
-8.9%
|
66
+61.0%
|
41
+4.3%
|
39
+38.4%
|
28
+117.5%
|
13
+263.0%
|
4
-82.1%
|
| Selling, general and administrative |
8
+1.5%
|
2
-16.8%
|
2
+0.6%
|
2
+11.7%
|
2
-75.3%
|
7
+20.5%
|
6
+99.8%
|
3
-2.6%
|
3
+27.8%
|
2
-28.3%
|
| Operating income |
26
-5.8%
|
33
+120.4%
|
15
+924.6%
|
-2
-145.6%
|
4
+201.2%
|
-4
-340.7%
|
2
-66.7%
|
5
+165.4%
|
-7
-1161.2%
|
-1
-106.4%
|
| Pretax income |
—
|
—
|
—
|
—
|
—
|
—
|
-13
|
—
|
—
|
—
|
| Income tax |
—
|
—
|
—
|
0
|
0
|
0
|
—
|
—
|
0
|
—
|
| Net income |
3
-38.7%
|
19
+119.9%
|
9
+137.8%
|
-23
-54.5%
|
-15
-32.7%
|
-11
+16.8%
|
-13
|
—
|
—
|
—
|
| Basic EPS |
0.67
-38.5%
|
-36.34
|
—
|
—
|
—
|
—
|
—
|
-0.09
+97.9%
|
-4.21
-288.8%
|
2.23
-61.4%
|
| Diluted EPS |
0.67
-38.5%
|
-36.34
|
—
|
—
|
—
|
—
|
—
|
-0.09
+97.9%
|
-4.21
-328.8%
|
1.84
-68.1%
|
| Weighted average shares, basic |
5
+0.0%
|
0
|
—
|
1
+904.1%
|
0
+222.1%
|
0
-31.6%
|
0
+241577.3%
|
0
+100.0%
|
0
-100.0%
|
1
+431.6%
|
| Weighted average shares, diluted |
5
+0.0%
|
—
|
0
|
—
|
—
|
—
|
—
|
4
+99.5%
|
2
+28.3%
|
2
+544.0%
|
| Other measures | ||||||||||
| Depreciation and amortization |
—
|
13
+73.3%
|
8
-41.8%
|
13
+6.3%
|
12
+93.9%
|
6
+11.2%
|
6
+65.7%
|
3
+419.0%
|
1
-11.8%
|
1
-88.2%
|
| EBITDA |
—
|
46
+104.3%
|
22
+97.5%
|
11
-30.3%
|
16
+552.9%
|
3
-66.0%
|
7
-11.5%
|
8
+223.2%
|
-7
-4092.9%
|
0
-98.9%
|
| Interest coverage |
1.12x
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
| Margins | ||||||||||
| Operating margin |
32.68%
|
40.44%
|
26.26%
|
-2.98%
|
5.96%
|
-9.47%
|
4.11%
|
17.05%
|
-56.72%
|
-16.32%
|
| Pretax margin |
—
|
—
|
—
|
—
|
—
|
—
|
-33.90%
|
—
|
—
|
—
|
| Profit margin |
3.84%
|
23.49%
|
15.29%
|
-37.89%
|
-22.35%
|
-27.11%
|
-33.97%
|
—
|
—
|
—
|
| EBITDA margin |
—
|
56.92%
|
39.87%
|
18.90%
|
24.71%
|
6.09%
|
18.70%
|
29.24%
|
-51.61%
|
4.69%
|
How these figures are calculated
Annual columns are full-year amounts from the annual report (Form 10-K, 20-F, or 40-F). If a company restates a year, the latest filed number is shown. USD in millions, except per-share amounts and margins. Weighted average shares are in millions. Interest expense and finance costs are positive costs. A negative amount on a gain (loss) or income (expense) line is a loss or an expense. EBITDA is operating income plus depreciation and amortization. Interest coverage is operating income divided by interest expense. More on our methodology.
New to this? Read How to Read an Income Statement, With a Real Example.
Company profile
- Industry
- Deep Sea Foreign Transportation of Freight (SIC 4412)
- Listed as
- TOPS (NYSE)
- Fiscal year ends
- December 31
- Incorporated in
- Marshall Islands
- Headquarters
- Maroussi
- SEC filer status
- Non-accelerated filer
- SEC CIK
- 1296484
- Former names
- TOP TANKERS INC. (until Dec 17, 2007)
Other Deep Sea Foreign Transportation of Freight companies
- Frontline plc FRO
- Cmb.tech NV CMBT
- Scorpio Tankers Inc. STNG
- TORM plc TRMD
- DHT Holdings, Inc. DHT
- Okeanis Eco Tankers Corp. ECO
- ZIM Integrated Shipping Services Ltd. ZIM
- Star Bulk Carriers Corp. SBLK
Source: SEC EDGAR filings. This is company-reported data, not investment advice.