Top Ships annual debt-to-equity ratio
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2025
Top Ships Debt-to-Equity Ratio Growth & History (TOPS)
Top Ships's debt-to-equity ratio was 2.43 for fiscal 2025.
View full Top Ships company overviewTop Ships annual debt-to-equity ratio history
| Fiscal year | Period ended | Debt-to-equity ratio | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | 2.43 | 0.59 | +32.05% |
| 2024 | 2024-12-31 | 1.84 | 0.00 | +0.26% |
| 2023 | 2023-12-31 | 1.83 | −0.49 | −21.21% |
| 2022 | 2022-12-31 | 2.33 | 0.35 | +17.74% |
| 2021 | 2021-12-31 | 1.98 | 0.75 | +61.58% |
| 2020 | 2020-12-31 | 1.22 | −2.30 | −65.28% |
| 2019 | 2019-12-31 | 3.52 | 2.18 | +161.30% |
| 2018 | 2018-12-31 | 1.35 | 0.37 | +37.66% |
| 2017 | 2017-12-31 | 0.98 | −0.88 | −47.24% |
| 2016 | 2016-12-31 | 1.86 | 1.15 | +161.81% |
| 2015 | 2015-12-31 | 0.71 | 0.25 | +55.35% |
| 2014 | 2014-12-31 | 0.46 | — | — |
| 2012 | 2012-12-31 | 11.50 | 9.23 | +406.83% |
| 2011 | 2011-12-31 | 2.27 | 0.95 | +71.81% |
| 2010 | 2010-12-31 | 1.32 | — | — |
Top Ships quarterly debt-to-equity ratio
Q4.11
Q4.12
Q2.14
Q4.14
Q4.15
Q2.16
Q4.16
Q2.17
Q4.17
Q2.18
Q4.18
Q2.19
Q4.19
Q2.20
Q4.20
Q2.21
Q4.21
Q2.22
Q4.22
Q2.23
Q4.23
Q2.24
Q4.24
Q2.25
Q4.25
| Fiscal quarter | Period ended | Debt-to-equity ratio | Change | YoY change |
|---|---|---|---|---|
| Q4 2025 | 2025-12-31 | 2.43 | 0.59 | +32.05% |
| Q2 2025 | 2025-06-30 | 2.11 | 0.15 | +7.88% |
| Q4 2024 | 2024-12-31 | 1.84 | 0.00 | +0.26% |
| Q2 2024 | 2024-06-30 | 1.96 | −0.01 | −0.29% |
| Q4 2023 | 2023-12-31 | 1.83 | −0.49 | −21.21% |
| Q2 2023 | 2023-06-30 | 1.97 | −1.12 | −36.28% |
| Q4 2022 | 2022-12-31 | 2.33 | 0.35 | +17.74% |
| Q2 2022 | 2022-06-30 | 3.09 | 1.17 | +61.31% |
| Q4 2021 | 2021-12-31 | 1.98 | 0.75 | +61.58% |
| Q2 2021 | 2021-06-30 | 1.91 | −0.29 | −13.05% |
| Q4 2020 | 2020-12-31 | 1.22 | −2.30 | −65.28% |
| Q2 2020 | 2020-06-30 | 2.20 | −0.79 | −26.51% |
| Q4 2019 | 2019-12-31 | 3.52 | 2.18 | +161.30% |
| Q2 2019 | 2019-06-30 | 2.99 | 2.09 | +232.85% |
| Q4 2018 | 2018-12-31 | 1.35 | 0.37 | +37.66% |
| Q2 2018 | 2018-06-30 | 0.90 | −0.50 | −35.63% |
| Q4 2017 | 2017-12-31 | 0.98 | −0.88 | −47.24% |
| Q2 2017 | 2017-06-30 | 1.40 | 1.25 | +828.70% |
| Q4 2016 | 2016-12-31 | 1.86 | 1.15 | +161.81% |
| Q2 2016 | 2016-06-30 | 0.15 | — | — |
| Q4 2015 | 2015-12-31 | 0.71 | 0.25 | +55.35% |
| Q4 2014 | 2014-12-31 | 0.46 | — | — |
| Q2 2014 | 2014-06-30 | 0.51 | — | — |
| Q4 2012 | 2012-12-31 | 11.50 | 9.23 | +406.83% |
| Q4 2011 | 2011-12-31 | 2.27 | — | — |
Top Ships debt-to-equity ratio trends
Over the last five fiscal years, Top Ships's debt-to-equity ratio increased from 1.22 to 2.43, a change of 1.20. The latest reported quarter, Q4 2025, shows 2.43.
About the metric
What the debt-to-equity ratio means
The debt-to-equity ratio compares interest-bearing debt with shareholders’ equity. It helps show how much debt financing a company uses relative to its accounting equity, but useful comparison levels vary by industry.
Calculation and source
How debt-to-equity is calculated
TickerStat calculates debt-to-equity as total interest-bearing debt divided by SEC-reported shareholders’ equity for the same balance-sheet date. Total liabilities are not treated as debt, and periods with non-positive equity are omitted. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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