TOP Ships
Charters modern product, chemical and crude-oil tankers under multi-year fixed-rate contracts.
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Profile
Charters modern product/chemical and crude-oil tankers worldwide, primarily on fixed-rate time charters. Its outsourced operating model combines ECO tonnage with contracted employment, while founder-linked entities supply fleet management and executive personnel.
Reports tanker and megayacht segments. The tanker segment charters product/chemical and crude-oil vessels worldwide, primarily under multi-year fixed-rate time charters that supply the vessel and crew while customers direct trading within contractual limits. Management has announced an intended sale of the yacht and exit from the megayacht sector.
Builds the tanker business around ECO vessel design, reliability, safety, fuel economy, operational flexibility and acceptability to oil-company charterers. Its fleet includes MR product/chemical tankers, a Suezmax and VLCC crude carriers, alongside a changing pipeline of newbuilding MRs with charter arrangements.
Relies on a founder-affiliated manager for operating, technical, commercial, accounting and reporting services, while another affiliate supplies executives and administrative staff. Operations remain dependent on customer performance, tanker-market cycles, vessel availability, maritime safety and environmental rules, and sale-and-leaseback covenants.
Company facts
Key statistics
Year to date −84.3% · Average volume (30d) 184.6K
Analysts
No analyst consensus on record.
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Apr 1, 2026Q4 FY25 | $0.86 | −$0.97 | −213.5% | $47.9M | $36.6M | −23.6% | +5.61% |
| Aug 11, 2025Q2 FY25 | $1.13 | $1.63 | +44.2% | $44.8M | $43.8M | −2.2% | −1.17% |
| Mar 29, 2024Q4 FY23 | $0.41 | −$26.39 | −6,473.8% | $42.0M | $41.8M | −0.5% | −3.78% |
| Aug 3, 2023Q2 FY23 | $6.37 | $0.77 | −87.9% | $40.9M | $41.1M | +0.5% | +8.82% |
Financial highlights
| 12 quarters | Q2 FY22 | Q4 FY22 | Q2 FY23 | Q4 FY23 | Q2 FY25 | Q4 FY25 | |
|---|---|---|---|---|---|---|---|
| Revenue | $19.4M | $20.9M | $41.1M | $41.8M | $43.8M | $36.6M | |
| Gross profit | $11.4M | $13.4M | $23.5M | $24.9M | $25.8M | $21.4M | |
| Operating income | $7.5M | $8.7M | $16.3M | $12.5M | $18.2M | $8.0M | |
| Net income | −$6.6M | $2.0M | $5.8M | $292.0K | $7.6M | −$4.5M | |
| Diluted EPS | −$36.91 | $5.99 | $0.60 | −$13.04 | $1.63 | −$0.97 | |
| Gross margin | 58.9% | 64.3% | 57.2% | 59.6% | 59.0% | 58.5% | |
| Operating margin | 38.8% | 41.8% | 39.6% | 29.8% | 41.6% | 22.0% |
Revenue by product · FY25
Balance sheet, Dec 31, 2025Cash & short-term investments $20.4M · Total debt $204.8M · Total assets $333.6M · Shareholders' equity $89.2M
Dividends
No dividends on record.
Ownership
Shares outstanding 4.63M · Float 1.01M · 21.9% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| 3 Sororibus Trust | 2.93M | 39.25% | 13D | May 18, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
View detailsPeers
- International Seaways
Broadest fleet rival across MR, Suezmax, and VLCC charters.
- Scorpio Tankers
Large-scale rival in MR product-tanker chartering.
- Frontline
Scaled crude-tanker rival in VLCC and Suezmax chartering.
- DHT
Specialist VLCC owner competing for global crude-oil charters.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| TOP Ships | $0.7539 | +1.47% | $3.4M | 1.1 | — | 0.0 | — |
| International Seaways | $100.00 | +1.19% | $4.89B | 6.3 | 10.8 | 3.9 | +121.9% |
| Scorpio Tankers | $77.91 | −0.18% | $3.91B | 4.9 | 11.5 | 3.2 | +70.2% |
| Frontline | $44.22 | +0.12% | $9.84B | 6.6 | 9.1 | 3.6 | +56.9% |
| DHT | $19.77 | +0.56% | $3.17B | 6.7 | 6.9 | 4.4 | +98.7% |
| Median | 6.5 | 9.9 | 3.8 | +84.4% |