TOP SHIPS INC. (TOPS)

Deep Sea Foreign Transportation of Freight

Latest Price

$0.74

TTM P/E

Normalized P/E

Div Yield

Book Value

P/B Ratio

Valuation metrics

EPS: $0.67

Book value / share: $19.28

Formula: √(22.5 × EPS × BVPS)

Graham Number

$17.05

+2211% upside

Norm. op. income: $26M (median of 7yr)

Tax rate: 25%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$0.19

75% downside

EPS: $0.67

Target P/E: 15×

Formula: EPS × P/E

P/E Fair Value

$10.05

+1262% upside