Top Ships (TOPS) Debt to Equity (2009 - 2025)

Top Ships' Debt to Equity history runs 17 years deep, the most recent figure standing at $2.43 for Q4 2025.

• In Q4 2025, Debt to Equity rose 35.29% year-over-year to $2.43; the TTM figure through Dec 2025 stood at $2.43 (up 35.29% YoY), while the FY2025 annual figure was $2.43, up 35.29% from the prior year.
• Debt to Equity was $2.43 for Q4 2025 at Top Ships, up from $2.09 in the prior quarter.
• In the past five years, Debt to Equity ranged from a high of $2.76 in Q2 2022 to a low of $1.29 in Q4 2021.
• Historically, Debt to Equity has averaged $1.99 across 5 years, with a median of $1.88 in 2024.
• The sharpest annual moves came in 2022 and 2023: Debt to Equity surged 64.17% in 2022, then sank 34.43% in 2023.
• A 5-year view of Debt to Equity shows it stood at $1.29 in 2021, then soared by 64.17% to $2.11 in 2022, then retreated by 18.34% to $1.72 in 2023, then increased by 4.1% to $1.8 in 2024, then soared by 35.29% to $2.43 in 2025.
• The last three Debt to Equity figures came in at $2.43 (Q4 2025), $2.09 (Q2 2025), and $1.8 (Q4 2024), per Business Quant data.