TOP Ships Inc. (TOPS) — Working Capital to Net Assets Ratio
TOP Ships Inc. (TOPS) has a Working Capital to Net Assets ratio of -6.8% as of March 2025. Working capital of $-9.76 Million (current assets of $23.44 Million minus current liabilities of $33.19 Million) is measured against net assets of $144.42 Million. A higher ratio indicates strong short-term liquidity financed by the equity base. See TOP Ships Inc. free cash flow to debt ratio to measure the company's free cash flow as a share of total liabilities.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
TOP Ships Inc. Working Capital to Net Assets (2002–2024)
This chart shows how TOP Ships Inc.'s Working Capital to Net Assets ratio has evolved across 23 annual periods from 2002 to 2024. As of March 2025, the ratio stands at -6.8%, reflecting working capital of $-9.76 Million against net assets of $144.42 Million USD. See TOPS defensive asset coverage days to measure how many days the company can operate on defensive assets alone.
Annual Working Capital to Net Assets for TOP Ships Inc. (2002–2024)
The table below presents the year-by-year Working Capital to Net Assets ratio for TOP Ships Inc. from 2002 to 2024, covering 23 annual filings. Each row shows current assets, current liabilities, working capital, net assets, the ratio, and the change in percentage points compared to the prior year. For live market cap and the full company profile, see TOPS company net worth.
| Year | WC/NA Ratio | Working Capital (USD) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2024 | -6.8% | $-9.76 Million | $144.42 Million | $23.44 Million | $33.19 Million | ▼ -5.3 pp |
| 2023 | -1.4% | $-2.64 Million | $183.38 Million | $38.73 Million | $41.37 Million | ▲ +3.3 pp |
| 2022 | -4.7% | $-9.34 Million | $197.02 Million | $22.89 Million | $32.23 Million | ▲ +29.3 pp |
| 2021 | -34.1% | $-31.75 Million | $93.22 Million | $75.33 Million | $107.09 Million | ▼ -48.7 pp |
| 2020 | 14.7% | $19.67 Million | $134.22 Million | $45.09 Million | $25.41 Million | ▲ +38.0 pp |
| 2019 | -23.3% | $-24.68 Million | $105.76 Million | $50.74 Million | $75.42 Million | ▲ +6.9 pp |
| 2018 | -30.2% | $-31.53 Million | $104.28 Million | $5.29 Million | $36.82 Million | ▼ -33.5 pp |
| 2017 | 3.2% | $3.47 Million | $107.27 Million | $29.05 Million | $25.58 Million | ▲ +36.0 pp |
| 2016 | -32.8% | $-15.49 Million | $47.26 Million | $4.54 Million | $20.03 Million | ▲ +5.3 pp |
| 2015 | -38.1% | $-13.01 Million | $34.15 Million | $5.27 Million | $18.27 Million | ▼ -19.0 pp |
| 2014 | -19.1% | $-8.11 Million | $42.53 Million | $1.23 Million | $9.33 Million | ▼ -30.3 pp |
| 2013 | 11.2% | $1.66 Million | $14.79 Million | $10.26 Million | $8.61 Million | ▲ +1287.3 pp |
| 2012 | -1276.1% | $-166.90 Million | $13.08 Million | $26.73 Million | $193.63 Million | ▼ -1009.0 pp |
| 2011 | -267.1% | $-204.82 Million | $76.68 Million | $14.87 Million | $219.69 Million | ▼ -124.9 pp |
| 2010 | -142.2% | $-363.19 Million | $255.48 Million | $3.42 Million | $366.61 Million | ▲ +23.3 pp |
| 2009 | -165.5% | $-409.10 Million | $247.20 Million | $3.79 Million | $412.89 Million | ▼ -52.6 pp |
| 2008 | -112.9% | $-329.85 Million | $292.05 Million | $57.09 Million | $386.93 Million | ▼ -88.8 pp |
| 2007 | -24.2% | $-51.13 Million | $211.41 Million | $102.16 Million | $153.29 Million | ▼ -40.5 pp |
| 2006 | 16.3% | $32.19 Million | $197.85 Million | $72.80 Million | $40.61 Million | ▲ +18.6 pp |
| 2005 | -2.3% | $-8.57 Million | $369.66 Million | $67.57 Million | $76.14 Million | ▼ -32.8 pp |
| 2004 | 30.5% | $98.24 Million | $321.81 Million | $141.05 Million | $42.81 Million | ▲ +56.3 pp |
| 2003 | -25.8% | $-4.20 Million | $16.32 Million | $4.86 Million | $9.07 Million | ▲ +15.1 pp |
| 2002 | -40.8% | $-3.58 Million | $8.77 Million | $845.00K | $4.43 Million | — |