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Side-by-side financial comparison of LZ Technology Holdings Ltd (LZMH) and TOP SHIPS INC. (TOPS). Click either name above to swap in a different company.

LZ Technology Holdings Ltd is the larger business by last-quarter revenue ($57.8M vs $36.6M, roughly 1.6× TOP SHIPS INC.). LZ Technology Holdings Ltd runs the higher net margin — -10.5% vs -12.2%, a 1.8% gap on every dollar of revenue.

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.

LZMH vs TOPS — Head-to-Head

Bigger by revenue
LZMH
LZMH
1.6× larger
LZMH
$57.8M
$36.6M
TOPS
Higher net margin
LZMH
LZMH
1.8% more per $
LZMH
-10.5%
-12.2%
TOPS

Income Statement — Q2 FY2025 vs Q4 FY2025

Metric
LZMH
LZMH
TOPS
TOPS
Revenue
$57.8M
$36.6M
Net Profit
$-6.0M
$-4.5M
Gross Margin
3.0%
Operating Margin
-10.1%
22.0%
Net Margin
-10.5%
-12.2%
Revenue YoY
Net Profit YoY
EPS (diluted)
$-0.04
$-0.96

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

Balance Sheet & Financial Strength

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

Metric
LZMH
LZMH
TOPS
TOPS
Cash + ST InvestmentsLiquidity on hand
$2.2M
$20.4M
Total DebtLower is stronger
$216.6M
Stockholders' EquityBook value
$9.5M
$89.2M
Total Assets
$71.5M
$333.6M
Debt / EquityLower = less leverage
2.43×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
LZMH
LZMH
TOPS
TOPS
Q4 25
$20.4M
Q2 25
$2.2M
Total Debt
LZMH
LZMH
TOPS
TOPS
Q4 25
$216.6M
Q2 25
Stockholders' Equity
LZMH
LZMH
TOPS
TOPS
Q4 25
$89.2M
Q2 25
$9.5M
Total Assets
LZMH
LZMH
TOPS
TOPS
Q4 25
$333.6M
Q2 25
$71.5M
Debt / Equity
LZMH
LZMH
TOPS
TOPS
Q4 25
2.43×
Q2 25

Cash Flow & Capital Efficiency

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

Metric
LZMH
LZMH
TOPS
TOPS
Operating Cash FlowLast quarter
$-6.7M
$26.4M
Free Cash FlowOCF − Capex
$-6.8M
FCF MarginFCF / Revenue
-11.7%
Capex IntensityCapex / Revenue
0.0%
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
LZMH
LZMH
TOPS
TOPS
Q4 25
$26.4M
Q2 25
$-6.7M
Free Cash Flow
LZMH
LZMH
TOPS
TOPS
Q4 25
Q2 25
$-6.8M
FCF Margin
LZMH
LZMH
TOPS
TOPS
Q4 25
Q2 25
-11.7%
Capex Intensity
LZMH
LZMH
TOPS
TOPS
Q4 25
Q2 25
0.0%

Financial Flow Comparison

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

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