Start with its own history
At 0.45×, TOPS is 92.7% below its 3-observation annual average. A lower multiple can reflect a lower price, higher earnings, or weaker growth expectations—not necessarily a bargain.
AMEX · TOPSMarine ShippingUpdated Nov 2, 2026
Top Ships Inc. P/E ratio
Current valuation, historical context, and peer comparisons.
Current P/E ratio
0.45×
92.7% belowthe 3-observation annual average
Share price0.2979
÷Earnings per share0.66
Price and EPS in quote currency. Calculation details
Investors are paying 0.45 for every 1 of reported earnings per share.
P/E over time
2016 – 2025
Annual P/ESelected-period average 6.15×
3-year average6.13×2 positive annual observations
5-year average6.15×3 positive annual observations
10-year average6.15×3 positive annual observations
Peer median · TTM0.63×5 peers with positive P/E
Historical P/E ratios
Annual period-end data · 22 observations
| Period end | P/E | Change |
|---|---|---|
| Dec 31, 2025 | 6.73× | +21.7% |
| Dec 31, 2024 | 5.53× | N/M |
| Dec 31, 2023 | N/M | N/M |
| Dec 31, 2022 | N/M | N/M |
| Dec 31, 2021 | 6.20× | N/M |
| Dec 31, 2020 | N/M | N/M |
| Dec 31, 2019 | N/M | N/M |
| Dec 31, 2018 | N/M | N/M |
View all 22 annual observations +
| Period end | P/E | Change |
|---|---|---|
| Dec 31, 2017 | N/M | N/M |
| Dec 31, 2016 | N/M | N/M |
| Dec 31, 2015 | N/M | N/M |
| Dec 31, 2014 | 79060.77× | -18.2% |
| Dec 31, 2013 | 96647.73× | N/M |
| Dec 31, 2012 | N/M | N/M |
| Dec 31, 2011 | N/M | N/M |
| Dec 31, 2010 | 13116434.81× | N/M |
| Dec 31, 2009 | N/M | N/M |
| Dec 31, 2008 | 1922508.70× | N/M |
| Dec 31, 2007 | N/M | N/M |
| Dec 31, 2006 | N/M | N/M |
| Dec 31, 2005 | 714834075.34× | -63.9% |
| Dec 31, 2004 | 1977947683.10× | N/M |
Change is relative to the preceding observation. N/M values are excluded from averages.
How TOPS compares
Company P/E vs. peer trailing-12-month ratios
| Company | P/E ratio |
|---|---|
 TOPS This stockTop Ships Inc. | 0.45× |
 PSHGPerformance Shipping Inc. | 0.63× |
 PXSPyxis Tankers Inc. | 8.77× |
 VNTGVantage Corp | N/M |
 NCTIntercont (Cayman) Limited Ordinary shares | 0.02× |
 GLBSGlobus Maritime Limited | 9.13× |
 CTRMCastor Maritime Inc. | 0.16× |
 XTIAXTI Aerospace, Inc. | N/M |
 SIDUSidus Space, Inc. | N/M |
Peers are selected by the data provider. Business models and earnings definitions can differ.
Put the numbers in context
What does TOPS’s P/E tell you?
Compare like with like
The median of the 5 positive peer ratios above is 0.63×. Check growth, margins, debt, and earnings quality before interpreting the gap. A faster-growing business may justify a higher multiple.
Check what drives earnings
One-off gains can temporarily lower P/E; unusual charges can raise it. Reported earnings and forward estimates answer different questions. Pair this view with return on equity and liquidity for a fuller picture.
Keep your research connected
Take TOPS into your spreadsheet
Pull historical P/E into Excel or Google Sheets with Wisesheets. Build your own comparisons alongside the rest of your financial model.
Explore WisesheetsQuarterly P/E · latest quarterLQ selects the latest reported quarter. Requires the Wisesheets add-in. See available data
=WISE("TOPS", "PE Ratio", "LQ")Sources & calculation methodology
Current P/E
Share price 0.2979 ÷ EPS 0.66 = 0.45×. Data is supplied by Financial Modeling Prep through Wisesheets. Quote feed updated Nov 2, 2026; this is not a real-time trading quote.
History & averages
Annual and quarterly P/E observations are provided separately from the current quote. Averages use the latest 3, 5, or 10 annual observations, excluding missing and nonpositive ratios. Pre-IPO observations are omitted. These are period-end observations, not daily averages.
Data definitions and limitations
The current quote feed does not specify the exact EPS filing-period end or whether EPS is basic or diluted. We do not label it as forward P/E. Peer ratios are explicitly trailing-12-month (TTM) values. Historical observations do not include independently verified price and EPS inputs. Sources may update on different schedules; rounded inputs can produce small calculation differences. Historical comparisons describe past pricing, not an estimate of fair value.
TOPS P/E ratio: common questions
The essentials behind the numbers.
Top Ships Inc.'s current P/E is 0.45× based on the quote data last updated Nov 2, 2026. It represents the share price divided by reported earnings per share. Prices and earnings may refresh on different schedules.
Annual P/E uses earnings for a completed fiscal year. Trailing-12-month (TTM) P/E uses the latest four quarters, while forward P/E uses forecast earnings. These are not interchangeable. This page labels peer ratios as TTM and shows dated annual or quarterly historical observations; it does not show forward estimates.
N/M means not meaningful: the feed has no positive P/E for that observation. Negative or zero earnings should not be ranked as a low positive valuation multiple. N/M observations are excluded from the averages shown above.
Divide the share price by earnings per share (EPS). For example, a share price of 100 and EPS of 5 gives a P/E of 20×. This page uses the price and EPS supplied together in the quote when both are positive.
Price timestamps, EPS definitions, share classes, adjustments, and fiscal periods can differ. A forward P/E also uses forecast earnings rather than reported earnings. Compare the inputs and as-of dates before comparing two displayed ratios.
Not necessarily. The average describes previous market pricing, not fair value. Changes in earnings quality, growth expectations, debt, accounting, and business risk can justify a different multiple today.