TOP Ships Inc. balance sheet

At the end of fiscal 2025, TOP Ships Inc. had total assets of $334m, total liabilities of $244m and shareholders' equity of $89.2m. It held $20.4m in cash against $219m of debt: net debt of $198m.

Balance sheet

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

TOP Ships Inc.: balance sheet, annual
Fiscal year	2009Dec 2009	2010Dec 2010	2011Dec 2011	2012Dec 2012	2013Dec 2013	2014Dec 2014	2015Dec 2015	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2025Dec 2025
Cash and equivalents	—	—	—	—	10	—	3	0	24	0	4	19	2	21	20
Receivables	—	0	3	0	—	0	0	0	1	1	1	0	0	0	2
Inventory	—	1	—	—	—	0	0	1	1	1	1	1	1	1	1
Total current assets	—	3	15	27	10	1	5	5	29	5	51	45	75	23	24
Total assets	—	—	—	—	28	76	74	143	220	258	445	293	331	469	334
Accounts payable	—	5	8	4	2	2	5	2	3	4	4	3	2	2	3
Deferred revenue (current)	—	5	2	3	—	—	—	2	1	—	3	2	4	7	—
Total current liabilities	—	367	220	194	9	9	18	20	26	37	75	25	107	32	40
Short-term debt	—	337	174	150	—	1	2	8	10	10	17	5	7	12	12
Long-term debt	—	—	—	—	—	18	19	72	84	101	262	99	90	221	205
Total debt	—	337	174	150	0	19	24	86	104	152	309	107	151	241	219
Total liabilities	—	367	220	198	13	33	40	96	113	154	339	159	221	272	244
Shareholders' equity	247	255	77	13	15	43	34	46	106	104	88	121	93	111	89
Non-controlling interests and other (assets − liabilities − equity)	—	—	—	—	—	—	—	—	—	—	18	14	16	86	—
Net debt (negative = net cash)	—	—	—	—	−10	—	22	86	80	152	305	88	148	220	198
Shares outstanding	—	51m	—	—	37m	—	—	—	—	35m	—	—	—	—	5m

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

Compare with peers

Head to head: CTRM vs TOPS PSHG vs TOPS HMR vs TOPS

More: Marine Transportation stocks compared, Industrials sector, rankings of US companies

Figures from TOP Ships Inc.'s SEC filings (10-K and 10-Q). How we read and check them: methodology and data sources. Not investment advice. Back to TOP Ships Inc.