Top Ships Inc. (TOPS) Earnings History
Profitable24 years of earnings data (2002–2025) · Positive TTM net income
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Top Ships Inc. (TOPS) Earnings Overview
As of July 8, 2026, Top Ships Inc. (TOPS) reported trailing twelve-month net income of $9M, reflecting -38.5% year-over-year growth. The company earned $1.98 per diluted share over the past four quarters, with a net profit margin of 3.8%.
Looking at the long-term picture, TOPS's historical earnings data spans multiple years. The company achieved its highest annual net income of $69M in fiscal 2005.
Top Ships Inc. maintains positive profitability with a gross margin of 45.9%, operating margin of 32.7%, and net margin of 3.8%. The company continues to generate positive earnings from operations. View revenue history →
Compared to peers including SBLK ($142M net income, 8.1% margin), SHIP ($15M net income, 13.2% margin), CTRM ($85M net income, 23.6% margin), TOPS has room to improve margins relative to the peer group. Compare TOPS vs SBLK →
TOPS Earnings vs Peers
Earnings metrics vs comparable public companies
TOPS Historical Earnings Data (2002–2025)
24 years| Fiscal Year | Net Income | YoY % | Operating Income | EPS (Diluted) | Net Margin | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $3M | -38.7% | $26M | $0.67 | 3.8% | 32.7% |
| 2024 | $5M | -17.0% | $28M | $1.09 | 5.8% | 32.4% |
| 2023 | $6M | -68.0% | $29M | $-12.44 | 7.3% | 34.6% |
| 2022 | $19M | +119.9% | $33M | $-36.34 | 23.5% | 40.4% |
| 2021 | $9M | +137.8% | $16M | $24.65 | 15.3% | 28.3% |
| 2020 | -$23M | -54.5% | $11M | $-293.70 | -37.9% | 18.4% |
| 2019 | -$15M | -32.7% | $17M | $-63502.00 | -22.4% | 25.5% |
| 2018 | -$11M | +16.8% | -$4M | $-754095.18 | -27.1% | -9.5% |
| 2017 | -$13M | -1371.6% | $2M | $-999999.00 | -34.0% | 4.1% |
| 2016 | $1M | +112.4% | $5M | $-351000.00 | 3.7% | 17.1% |
| 2015 | -$9M | -393.8% | -$4M | $-999999.00 | -65.1% | -33.2% |
| 2014 | $3M | +105.7% | $-588,000 | $999999.00 | 80.4% | -16.3% |
| 2013 | $1M | +102.2% | $8M | $999999.00 | 7.0% | 38.0% |
| 2012 | -$64M | +66.2% | -$53M | $-999999.00 | -203.6% | -167.9% |
| 2011 | -$189M | -7625.3% | -$7M | $-999999.00 | -453.6% | -17.4% |
| 2010 | $3M | +105.0% | $22M | $999999.00 | 2.8% | 24.5% |
| 2009 | -$50M | -295.8% | -$34M | $-999999.00 | -46.5% | -31.7% |
| 2008 | $26M | +152.2% | $62M | $999999.00 | 10.0% | 24.0% |
| 2007 | -$49M | -345.9% | -$29M | $-999999.00 | -19.5% | -11.5% |
| 2006 | -$11M | -116.0% | $41M | $-812.00 | -3.5% | 13.3% |
| 2005 | $69M | +109.4% | $87M | $999999.00 | 28.1% | 35.6% |
| 2004 | $33M | +1907.0% | $37M | $745318.00 | 35.0% | 39.9% |
| 2003 | $2M | +712.9% | $3M | $544666.00 | 7.1% | 11.7% |
| 2002 | $201,000 | - | $356,000 | $67000.00 | 1.8% | 3.1% |
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Intrinsic Valuation
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TOPS — Frequently Asked Questions
Quick answers to the most common questions about buying TOPS stock.
What is TOPS earnings per share (EPS)?
TOPS trailing twelve-month (TTM) diluted EPS is $1.98, reflecting -38.5% year-over-year growth. The 5-year EPS CAGR is N/A. Complete EPS history from 2002 to 2025 is available in the table on this page.
What is Top Ships Inc.'s net income?
Top Ships Inc. (TOPS) trailing twelve-month net income is $9M as of 2025. Earnings declined -38.5% year-over-year. Top Ships Inc. has been profitable for 5 consecutive years.
Is TOPS profitable?
Yes, TOPS is profitable with a TTM net income of $9M and a net profit margin of +3.8%. Top Ships Inc. has generated profits for 5 consecutive years.
What is TOPS's earnings growth rate?
TOPS compound annual EPS growth rates (CAGR): 1-Year: -38.5%, 3-Year: N/A, 5-Year: N/A, 10-Year: N/A. These figures measure the annualised rate of diluted EPS growth over each period, based on data from 2002 to 2025.
What are TOPS's profit margins?
Top Ships Inc. net profit margin is +3.8%, operating margin is +32.7%, and gross margin is +45.9%. Below-average margins reflect competitive or cost pressures. Return on Equity is +2.6%.
Is TOPS growing earnings?
TOPS earnings are declining — EPS fell -38.5% year-over-year. TTM net income dropped to $9M. This contrasts with the 5-year CAGR of N/A.
What was TOPS's best earnings year?
Top Ships Inc.'s highest annual net income on record is $69M, achieved in fiscal year 2005. Earnings history on this page spans 2002 to 2025 and includes all annual and quarterly figures.
What were TOPS's earnings last quarter?
TOPS's most recent reported quarter was Q4 2025. Net income was $-4M with diluted EPS of $-0.97. For a full breakdown of all quarters, see the quarterly earnings table on this page.