TOPS Financial Statements

Balance sheet, income statement, cash flow, and dividends for Top Ships Inc (TOPS).


$27.90M Market Cap.

As of 04/14/2025 5:00 PM ET (MRY) • Disclaimer

TOPS Market Cap. (MRY)


TOPS Shares Outstanding (MRY)


TOPS Assets (MRY)


Total Assets

$422.77M

Total Liabilities

$278.35M

Total Investments

$11.05M

TOPS Income (MRY)


Revenue

$86.13M

Net Income

$5.03M

Operating Expense

$26.26M

TOPS Cash Flow (MRY)


CF Operations

$17.32M

CF Investing

-$12.40M

CF Financing

-$33.25M

TOPS Dividends (MRY)


Period

Dividends

Yield %

Growth %

Payout Ratio

Coverage Ratio

2024

$0

0%

0%

0%

-

2023

$0

0%

0%

0%

-

2022

$0

0%

0%

0%

-

2021

$0

0%

0%

0%

-

2020

$0

0%

-

0%

-

TOPS Balance Sheet (MRY)


Metric

2024

2023

2022

2021

Total Assets

$422,772,000 (-7.93%)

$459,189,000 (-2.16%)

$469,337,000 (41.88%)

$330,788,000 (12.88%)

Assets Current

$23,439,000 (-39.49%)

$38,733,000 (69.20%)

$22,892,000 (-69.61%)

$75,334,000 (67.09%)

Assets Non-Current

$399,333,000 (-5.02%)

$420,456,000 (-5.82%)

$446,445,000 (74.77%)

$255,454,000 (3.03%)

Goodwill & Intangible Assets

$0 (0%)

$0 (0%)

$0 (0%)

$0 (0%)

Shareholders Equity

$144,420,000 (3.55%)

$139,464,000 (26.02%)

$110,672,000 (18.72%)

$93,222,000 (-22.77%)

Property Plant & Equipment Net

$371,545,000 (-5.86%)

$394,691,000 (-5.64%)

$418,272,000 (41.02%)

$296,613,000 (24.60%)

Cash & Equivalents

$8,629,000 (-76.00%)

$35,956,000 (75.02%)

$20,544,000 (766.84%)

$2,370,000 (-87.74%)

Accumulated Other Comprehensive Income

$0 (0%)

$0 (0%)

$0 (0%)

$0 (0%)

Deferred Revenue

$6,754,000 (2.10%)

$6,615,000 (-5.90%)

$7,030,000 (92.18%)

$3,658,000 (76.37%)

Total Investments

$11,054,000 (-53.23%)

$23,635,000 (-9.70%)

$26,173,000 (-8.09%)

$28,477,000 (-11.64%)

Investments Current

$0 (0%)

$0 (0%)

$0 (0%)

$0 (0%)

Investments Non-Current

$11,054,000 (-53.23%)

$23,635,000 (-9.70%)

$26,173,000 (-8.09%)

$28,477,000 (-11.64%)

Inventory

$983,000 (7.43%)

$915,000 (-10.82%)

$1,026,000 (52.91%)

$671,000 (30.54%)

Trade & Non-Trade Receivables

$3,513,000 (1008.20%)

$317,000 (3862.50%)

$8,000 (-89.47%)

$76,000 (0%)

Trade & Non-Trade Payables

$2,990,000 (-50.20%)

$6,004,000 (174.16%)

$2,190,000 (-93.17%)

$32,063,000 (316.24%)

Accumulated Retained Earnings (Deficit)

-$306,706,000 (1.61%)

-$311,740,000 (1.91%)

-$317,806,000 (5.63%)

-$336,754,000 (2.49%)

Tax Assets

$0 (0%)

$0 (0%)

$0 (0%)

$0 (0%)

Tax Liabilities

$0 (0%)

$0 (0%)

$0 (0%)

$0 (0%)

Total Debt

$265,615,000 (3.82%)

$255,835,000 (-0.71%)

$257,662,000 (39.78%)

$184,333,000 (24.79%)

Debt Current

$20,559,000 (-3.92%)

$21,398,000 (2.12%)

$20,954,000 (-70.16%)

$70,222,000 (380.58%)

Debt Non-Current

$245,056,000 (4.53%)

$234,437,000 (-0.96%)

$236,708,000 (107.44%)

$114,111,000 (-14.27%)

Total Liabilities

$278,352,000 (0.92%)

$275,809,000 (1.28%)

$272,314,000 (22.98%)

$221,424,000 (39.42%)

Liabilities Current

$33,194,000 (-19.77%)

$41,372,000 (28.34%)

$32,235,000 (-69.90%)

$107,088,000 (321.37%)

Liabilities Non-Current

$245,158,000 (4.57%)

$234,437,000 (-2.35%)

$240,079,000 (109.98%)

$114,336,000 (-14.29%)

TOPS Income Statement (MRY)


Metric

2024

2023

2022

2021

Revenues

$86,127,000 (3.83%)

$82,949,000 (2.84%)

$80,656,000 (43.09%)

$56,367,000 (-6.40%)

Cost of Revenue

$31,963,000 (3.19%)

$30,976,000 (-0.45%)

$31,116,000 (11.78%)

$27,836,000 (17.09%)

Selling General & Administrative Expense

$7,506,000 (12.08%)

$6,697,000 (314.16%)

$1,617,000 (-16.78%)

$1,943,000 (0.57%)

Research & Development Expense

$0 (0%)

$0 (0%)

$0 (0%)

$0 (0%)

Operating Expenses

$26,260,000 (12.97%)

$23,246,000 (37.38%)

$16,921,000 (23.24%)

$13,730,000 (-64.10%)

Interest Expense

$23,496,000 (2.21%)

$22,989,000 (60.03%)

$14,365,000 (105.27%)

$6,998,000 (-66.61%)

Income Tax Expense

$0 (0%)

$0 (0%)

$0 (0%)

$0 (0%)

Net Loss Income from Discontinued Operations

$0 (0%)

$0 (0%)

$0 (0%)

$0 (0%)

Consolidated Income

$5,034,000 (-17.01%)

$6,066,000 (-67.99%)

$18,948,000 (119.92%)

$8,616,000 (137.76%)

Net Income to Non-Controlling Interests

$0 (0%)

$0 (0%)

$0 (0%)

$0 (0%)

Net Income

$5,034,000 (-17.01%)

$6,066,000 (-67.99%)

$18,948,000 (119.92%)

$8,616,000 (137.76%)

Preferred Dividends Income Statement Impact

$0 (0%)

$28,436,000 (1.07%)

$28,135,000 (773.76%)

$3,220,000 (-45.99%)

Net Income Common Stock

$5,034,000 (122.50%)

-$22,370,000 (-143.50%)

-$9,187,000 (-270.26%)

$5,396,000 (118.75%)

Weighted Average Shares

$4,626,197 (172.85%)

$1,695,508 (763.57%)

$196,337 (18.30%)

$165,967 (11353.90%)

Weighted Average Shares Diluted

-

-

-

-

Earning Before Interest & Taxes (EBIT)

$28,530,000 (-1.81%)

$29,055,000 (-12.78%)

$33,313,000 (113.35%)

$15,614,000 (938.56%)

Gross Profit

$54,164,000 (4.22%)

$51,973,000 (4.91%)

$49,540,000 (73.64%)

$28,531,000 (-21.72%)

Operating Income

$27,904,000 (-2.86%)

$28,727,000 (-11.93%)

$32,619,000 (120.38%)

$14,801,000 (924.57%)

TOPS Cash Flow Statement (MRY)


Metric

2024

2023

2022

2021

Net Cash Flow from Investing

-$12,401,000 (-592.10%)

$2,520,000 (101.77%)

-$142,656,000 (-86.11%)

-$76,651,000 (-142.28%)

Net Cash Flow from Financing

-$33,248,000 (-107.27%)

-$16,041,000 (-112.59%)

$127,411,000 (192.01%)

$43,632,000 (124.61%)

Net Cash Flow from Operations

$17,322,000 (-40.13%)

$28,933,000 (-13.42%)

$33,419,000 (108.08%)

$16,061,000 (165.91%)

Net Cash Flow / Change in Cash & Cash Equivalents

-$28,327,000 (-283.80%)

$15,412,000 (-15.20%)

$18,174,000 (207.17%)

-$16,958,000 (-268.62%)

Net Cash Flow - Business Acquisitions and Disposals

-$12,401,000 (-592.10%)

$2,520,000 (9.38%)

$2,304,000 (-22.58%)

$2,976,000 (137.68%)

Net Cash Flow - Investment Acquisitions and Disposals

$0 (0%)

$0 (0%)

$0 (0%)

$0 (0%)

Capital Expenditure

$0 (0%)

$0 (0%)

-$144,960,000 (-82.05%)

-$79,627,000 (-142.09%)

Issuance (Repayment) of Debt Securities

$10,738,000 (171.99%)

$3,948,000 (-95.29%)

$83,742,000 (84.41%)

$45,411,000 (121.49%)

Issuance (Purchase) of Equity Shares

$0 (0%)

$13,574,000 (-50.20%)

$27,259,000 (0%)

$0 (0%)

Payment of Dividends & Other Cash Distributions

$0 (0%)

$0 (0%)

$0 (0%)

$0 (0%)

Effect of Exchange Rate Changes on Cash

$0 (0%)

$0 (0%)

$0 (0%)

$0 (0%)

Share Based Compensation

$0 (0%)

$0 (0%)

-$16,000 (52.94%)

-$34,000 (0.00%)

Depreciation Amortization & Accretion

$23,146,000 (-1.84%)

$23,581,000 (7.85%)

$21,864,000 (39.91%)

$15,627,000 (13.63%)

TOPS Financial Metrics (MRY)


Metric

2024

2023

2022

2021

Gross Margin

62.90% (0.32%)

62.70% (2.12%)

61.40% (21.34%)

50.60% (-16.36%)

Profit Margin

5.80% (121.48%)

-27.00% (-136.84%)

-11.40% (-218.75%)

9.60% (120.08%)

EBITDA Margin

60.00% (-5.51%)

63.50% (-7.16%)

68.40% (23.47%)

55.40% (181.22%)

Return on Average Equity (ROAE)

3.50% (119.55%)

-17.90% (-98.89%)

-9.00% (-280.00%)

5.00% (118.12%)

Return on Average Assets (ROAA)

1.10% (122.92%)

-4.80% (-108.70%)

-2.30% (-235.29%)

1.70% (121.79%)

Return on Sales (ROS)

33.10% (-5.43%)

35.00% (-15.25%)

41.30% (49.10%)

27.70% (993.55%)

Return on Invested Capital (ROIC)

4.40% (0.00%)

4.40% (-29.03%)

6.20% (58.97%)

3.90% (1400.00%)

Dividend Yield

0% (0%)

0% (0%)

0% (0%)

0% (0%)

Price to Earnings Ratio (P/E)

5.53 (540.45%)

-1.26 (-199.76%)

-0.42 (-106.80%)

6.16 (723.05%)

Price to Sales Ratio (P/S)

0.32 (1.57%)

0.32 (762.16%)

0.04 (-93.73%)

0.59 (8328.57%)

Price to Book Ratio (P/B)

0.19 (1.58%)

0.19 (603.70%)

0.03 (-92.44%)

0.36 (11800.00%)

Debt to Equity Ratio (D/E)

1.93 (-2.58%)

1.98 (-19.63%)

2.46 (3.62%)

2.38 (80.47%)

Earnings Per Share (EPS)

1.09 (108.76%)

-12.44 (65.79%)

-36.36 (-211.81%)

32.52 (111.07%)

Sales Per Share (SPS)

18.62 (-61.95%)

48.92 (-88.09%)

410.8 (20.96%)

339.63 (-99.18%)

Free Cash Flow Per Share (FCFPS)

3.74 (-78.06%)

17.07 (103.00%)

-568.11 (-48.33%)

-383 (-100.28%)

Book Value Per Share (BVPS)

31.22 (-62.05%)

82.25 (-85.41%)

563.68 (0.35%)

561.69 (-99.33%)

Tangible Assets Book Value Per Share (TABVPS)

91.39 (-66.26%)

270.83 (-88.67%)

2,390.47 (19.94%)

1,993.1 (-99.01%)

Enterprise Value Over EBIT (EV/EBIT)

10 (11.11%)

9 (12.50%)

8 (-46.67%)

15 (110.20%)

Enterprise Value Over EBITDA (EV/EBITDA)

5.58 (11.32%)

5.01 (5.47%)

4.75 (-36.71%)

7.5 (-67.37%)

Asset Turnover

0.2 (8.94%)

0.18 (-11.39%)

0.2 (11.60%)

0.18 (11.04%)

Current Ratio

0.71 (-24.57%)

0.94 (31.83%)

0.71 (1.00%)

0.7 (-60.37%)

Dividends

$0 (0%)

$0 (0%)

$0 (0%)

$0 (0%)

Free Cash Flow (FCF)

$17,322,000 (-40.13%)

$28,933,000 (125.94%)

-$111,541,000 (-75.47%)

-$63,566,000 (-132.56%)

Enterprise Value (EV)

$288,150,968 (9.28%)

$263,679,828 (0.63%)

$262,038,172 (11.78%)

$234,417,697 (-14.28%)

Earnings Before Tax (EBT)

$5,034,000 (-17.01%)

$6,066,000 (-67.99%)

$18,948,000 (119.92%)

$8,616,000 (137.76%)

Earnings Before Interest Taxes & Depreciation Amortization (EBITDA)

$51,676,000 (-1.82%)

$52,636,000 (-4.61%)

$55,177,000 (76.62%)

$31,241,000 (162.73%)

Invested Capital

$646,564,000 (1.39%)

$637,696,000 (-5.42%)

$674,220,000 (66.20%)

$405,663,000 (2.44%)

Working Capital

-$9,755,000 (-269.65%)

-$2,639,000 (71.75%)

-$9,343,000 (70.58%)

-$31,754,000 (-261.42%)

Tangible Asset Value

$422,772,000 (-7.93%)

$459,189,000 (-2.16%)

$469,337,000 (41.88%)

$330,788,000 (12.88%)

Market Capitalization

$27,895,968 (5.33%)

$26,483,828 (785.10%)

$2,992,172 (-91.00%)

$33,259,697 (7802.89%)

Average Equity

$141,942,000 (13.49%)

$125,068,000 (22.68%)

$101,947,000 (-4.69%)

$106,961,500 (2.66%)

Average Assets

$440,980,500 (-5.01%)

$464,263,000 (16.05%)

$400,062,500 (28.26%)

$311,910,000 (-15.46%)

Invested Capital Average

$642,130,000 (-2.11%)

$655,958,000 (21.49%)

$539,941,500 (34.71%)

$400,832,500 (-25.02%)

Shares

4,626,197 (172.85%)

1,695,508 (763.57%)

196,337 (18.30%)

165,967 (11353.90%)