Is TOPS or TRMD more undervalued in 2026?

CirclFi compares TOP Ships, Inc. (TOPS) and TORM plc (TRMD) using 13 institutional-grade valuation models. TOPS has a Quality of Company score of 1.5/10 while TRMD scores 1.9/10.

Which is a better buy — TOPS or TRMD?

Compare intrinsic values from 13 independent models against current market prices. CirclFi also calculates Value Trap scores. This is not financial advice — conduct your own analysis.

How do TOPS and TRMD valuations compare?

TOPS at $0.90 and TRMD at $27.24 are compared across Bayesian DCF, EPV, EROIC Spread, First Chicago, Markov DDM, and 8 additional models.

TOPS vs TRMD Valuation Comparison 2026 — Intrinsic Value Analysis

TOPS

Deep Sea Foreign Transportation of Freight

TOP Ships, Inc.

Quality

1.5

out of 10

Value Trap

SAFE

Price

$0.90

Last close

Models

3/13

Active

TRMD

Deep Sea Foreign Transportation of Freight

TORM plc

Quality

1.9

out of 10

Value Trap

—

Price

$27.24

Last close

Models

13/13

Active

Model-by-Model Comparison

Model	Type	TOPS Fair Value	TOPS Upside	TRMD Fair Value	TRMD Upside
Bayesian DCF	Intrinsic	$0.38	-57.7%	$9.73	-64.3%
Earnings Power Value	Intrinsic	$4.23	+96.7%	$13.92	-55.3%
EROIC Spread	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
First Chicago	Scenario	$•••.••	••.•%	$•••.••	••.•%
Markov DDM	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
ML-RIV	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
Dynamic NAV	Asset-Based	$•••.••	••.•%	$•••.••	••.•%
PWERM	Option-Based	$•••.••	••.•%	$•••.••	••.•%
Regime Cross-Sectional	Relative	$•••.••	••.•%	$•••.••	••.•%
Sentiment SOTP	Hybrid	$•••.••	••.•%	$•••.••	••.•%
CUCE Ensemble	Ensemble	$•••.••	••.•%	$•••.••	••.•%
FTNN Topology	Relative	$•••.••	••.•%	$•••.••	••.•%
RCMH-DCF	Intrinsic	$•••.••	••.•%	$•••.••	••.•%

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TOPS vs TRMD — Which Stock Is More Undervalued?

TRMD scores higher with a 1.9/10 quality rating vs TOPS's 1.5/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

Comparing TOP Ships, Inc. (TOPS) and TORM plc (TRMD) across 13 institutional-grade valuation models reveals how each company's intrinsic value stacks up against its market price. CirclFi's engine processes SEC EDGAR 10-K and 10-Q filings, FRED macroeconomic data, and GDELT news sentiment to generate independent fair value estimates daily.

TOPS currently trades at $0.90 with a QOC of 1.5/10, while TRMD trades at $27.24 with a QOC of 1.9/10.

Both companies are analyzed with models spanning intrinsic (Bayesian DCF, EPV), scenario-based (First Chicago), regime-switching (Markov DDM, RCMH-DCF), machine learning (ML-RIV, FTNN Topology), and ensemble methods (CUCE).