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Side-by-side financial comparison of CTO Realty Growth, Inc. (CTO) and TOP SHIPS INC. (TOPS). Click either name above to swap in a different company.

CTO Realty Growth, Inc. is the larger business by last-quarter revenue ($41.2M vs $36.6M, roughly 1.1× TOP SHIPS INC.). CTO Realty Growth, Inc. runs the higher net margin — 15.1% vs -12.2%, a 27.3% gap on every dollar of revenue.

Keller Williams Realty is an American technology and international real estate franchise with headquarters in Austin, Texas. It is the largest real estate franchise in the United States by sales volume as of 2022.

Top Ships Inc. is a supply chain maritime transportation operations management company responsible for seaborne trade of raw materials. The company was founded by Evangelos J. Pistiolis on January 10, 2000 and is headquartered in Maroussi, Greece.

CTO vs TOPS — Head-to-Head

Bigger by revenue
CTO
CTO
1.1× larger
CTO
$41.2M
$36.6M
TOPS
Higher net margin
CTO
CTO
27.3% more per $
CTO
15.1%
-12.2%
TOPS

Income Statement — Q1 FY2026 vs Q4 FY2025

Metric
CTO
CTO
TOPS
TOPS
Revenue
$41.2M
$36.6M
Net Profit
$6.2M
$-4.5M
Gross Margin
Operating Margin
175.0%
22.0%
Net Margin
15.1%
-12.2%
Revenue YoY
15.0%
Net Profit YoY
174.4%
EPS (diluted)
$0.13
$-0.96

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
CTO
CTO
TOPS
TOPS
Q1 26
$41.2M
Q4 25
$38.3M
$36.6M
Q3 25
$37.8M
Q2 25
$37.6M
Q1 25
$35.8M
Q4 24
$35.7M
Q3 24
$31.8M
Q2 24
$28.8M
Net Profit
CTO
CTO
TOPS
TOPS
Q1 26
$6.2M
Q4 25
$28.3M
$-4.5M
Q3 25
$2.9M
Q2 25
$-23.4M
Q1 25
$2.3M
Q4 24
$-15.2M
Q3 24
$6.2M
Q2 24
$1.2M
Gross Margin
CTO
CTO
TOPS
TOPS
Q1 26
Q4 25
75.0%
Q3 25
75.4%
Q2 25
73.0%
Q1 25
75.2%
Q4 24
74.4%
Q3 24
74.4%
Q2 24
71.1%
Operating Margin
CTO
CTO
TOPS
TOPS
Q1 26
175.0%
Q4 25
75.1%
22.0%
Q3 25
26.6%
Q2 25
-33.7%
Q1 25
22.0%
Q4 24
-20.4%
Q3 24
15.6%
Q2 24
18.8%
Net Margin
CTO
CTO
TOPS
TOPS
Q1 26
15.1%
Q4 25
73.9%
-12.2%
Q3 25
7.7%
Q2 25
-62.2%
Q1 25
6.3%
Q4 24
-42.6%
Q3 24
19.6%
Q2 24
4.1%
EPS (diluted)
CTO
CTO
TOPS
TOPS
Q1 26
$0.13
Q4 25
$0.81
$-0.96
Q3 25
$0.03
Q2 25
$-0.77
Q1 25
$0.01
Q4 24
$-0.69
Q3 24
$0.17
Q2 24
$-0.03

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
CTO
CTO
TOPS
TOPS
Cash + ST InvestmentsLiquidity on hand
$8.3M
$20.4M
Total DebtLower is stronger
$216.6M
Stockholders' EquityBook value
$575.4M
$89.2M
Total Assets
$1.3B
$333.6M
Debt / EquityLower = less leverage
2.43×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
CTO
CTO
TOPS
TOPS
Q1 26
$8.3M
Q4 25
$6.5M
$20.4M
Q3 25
$9.3M
Q2 25
$8.6M
Q1 25
$8.4M
Q4 24
$9.0M
Q3 24
$8.2M
Q2 24
$4.8M
Total Debt
CTO
CTO
TOPS
TOPS
Q1 26
Q4 25
$616.3M
$216.6M
Q3 25
$604.2M
Q2 25
$605.4M
Q1 25
$602.2M
Q4 24
$519.0M
Q3 24
$526.8M
Q2 24
$482.7M
Stockholders' Equity
CTO
CTO
TOPS
TOPS
Q1 26
$575.4M
Q4 25
$567.3M
$89.2M
Q3 25
$557.3M
Q2 25
$574.1M
Q1 25
$593.9M
Q4 24
$612.8M
Q3 24
$595.8M
Q2 24
$491.8M
Total Assets
CTO
CTO
TOPS
TOPS
Q1 26
$1.3B
Q4 25
$1.3B
$333.6M
Q3 25
$1.2B
Q2 25
$1.2B
Q1 25
$1.2B
Q4 24
$1.2B
Q3 24
$1.2B
Q2 24
$1.0B
Debt / Equity
CTO
CTO
TOPS
TOPS
Q1 26
Q4 25
1.09×
2.43×
Q3 25
1.08×
Q2 25
1.05×
Q1 25
1.01×
Q4 24
0.85×
Q3 24
0.88×
Q2 24
0.98×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
CTO
CTO
TOPS
TOPS
Operating Cash FlowLast quarter
$26.4M
Free Cash FlowOCF − Capex
FCF MarginFCF / Revenue
Capex IntensityCapex / Revenue
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
CTO
CTO
TOPS
TOPS
Q1 26
Q4 25
$64.6M
$26.4M
Q3 25
$25.5M
Q2 25
$21.9M
Q1 25
$10.3M
Q4 24
$59.9M
Q3 24
$21.2M
Q2 24
$12.9M
Cash Conversion
CTO
CTO
TOPS
TOPS
Q1 26
Q4 25
2.28×
Q3 25
8.75×
Q2 25
Q1 25
4.56×
Q4 24
Q3 24
3.40×
Q2 24
10.89×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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