Top Ships (TOPS) Equity Ratio (2009 - 2025)

Top Ships' Equity Ratio history runs 17 years deep, the most recent figure standing at 0.27 for Q4 2025.

• In Q4 2025, Equity Ratio fell 21.74% year-over-year to 0.27; the TTM figure through Dec 2025 stood at 0.27 (down 21.74% YoY), while the FY2025 annual figure was 0.27, down 21.74% from the prior year.
• Equity Ratio was 0.27 for Q4 2025 at Top Ships, down from 0.3 in the prior quarter.
• In the past five years, Equity Ratio ranged from a high of 0.34 in Q4 2024 to a low of 0.19 in Q2 2022.
• Historically, Equity Ratio has averaged 0.28 across 5 years, with a median of 0.28 in 2021.
• The sharpest annual moves came in 2021 and 2023: Equity Ratio plunged 31.58% in 2021, then surged 50.99% in 2023.
• A 5-year view of Equity Ratio shows it stood at 0.28 in 2021, then declined by 16.33% to 0.24 in 2022, then increased by 28.8% to 0.3 in 2023, then advanced by 12.47% to 0.34 in 2024, then decreased by 21.74% to 0.27 in 2025.
• The last three Equity Ratio figures came in at 0.27 (Q4 2025), 0.3 (Q2 2025), and 0.34 (Q4 2024), per Business Quant data.