Saturday 17 October 2026
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Adamas Trust, Inc.
ADAM Real Estate Reit Mortgage
Adamas Trust, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $601.9 million, up 50.0% from fiscal 2024. In the quarter to June 2026, revenue grew 23.8%, EPS grew 1,300.0%, free cash flow grew 171.7% and total debt rose 29.1%, each against the same quarter a year earlier. Dividend growth for three consecutive years, revenue growth for three.
7.64
0.15
−1.93%
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| Dec '25 | Dec '24 | Dec '23 | Dec '22 | Dec '21 | Dec '20 | Dec '19 | Dec '18 | Dec '17 | Dec '16 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
6.58 | 0.00 | 0.00 | 0.00 | 9.79 | 0.00 | 9.58 | 9.06 | 8.99 | 13.26 |
Piotroski F-Score |
8 | 6 | 4 | 5 | 5 | 4 | 6 | 4 | 3 | 3 |
P/S ratio |
1.10 | 1.37 | 2.94 | 3.84 | 6.82 | 3.91 | 1.99 | 1.64 | 1.87 | 2.28 |
P/FCF ratio |
2.02 | 3.75 | 3.77 | 0.00 | 10.95 | 11.64 | 34.61 | 31.60 | 23.53 | 13.49 |
P/Operating CF |
10.63 | 18.90 | 58.05 | 117.96 | 23.16 | 40.07 | 158.11 | 147.07 | 217.13 | 78.64 |
P/B ratio |
0.74 | 0.64 | 0.71 | 0.79 | 0.77 | 0.76 | 0.81 | 0.84 | 1.00 | 1.05 |
Price to Tangible BV |
0.76 | 0.65 | 0.72 | 0.80 | 0.80 | 0.77 | 0.82 | 0.87 | 1.03 | 1.09 |
EV/Sales |
18.47 | 18.88 | 19.55 | 14.43 | 16.81 | 9.38 | 32.19 | 30.87 | 31.49 | 26.71 |
EV/EBITDA |
59.38 | 473.64 | 79.08 | 0.00 | 14.35 | 0.00 | 191.37 | 152.69 | 125.16 | 108.92 |
EV/Operating CF |
82.96 | 538.54 | 168.83 | 40.64 | 25.03 | 29.66 | 637.06 | 581.98 | 393.06 | 158.40 |
EV/FCF |
33.98 | 51.68 | 25.08 | (372.00) | 26.98 | 27.94 | 561.20 | 593.20 | 397.06 | 158.40 |
Quick Ratio |
0.63 | 0.46 | 0.24 | 0.62 | 0.41 | 7.98 | 0.67 | 1.65 | 1.46 | 3.36 |
Current Ratio |
14.17 | 11.17 | 4.29 | 9.77 | 5.62 | 95.39 | 118.90 | 97.55 | 74.35 | 117.90 |
Net Debt/EBITDA |
55.86 | 439.24 | 67.21 | (14.82) | 8.53 | (7.75) | 179.57 | 179.05 | 117.74 | 99.64 |
Debt/Assets |
84.43% | 78.06% | 60.59% | 47.78% | 41.64% | 47.46% | 89.86% | 91.09% | 90.75% | 88.10% |
Debt/Equity |
7.48 | 5.14 | 2.80 | 1.66 | 1.00 | 0.96 | 9.57 | 11.37 | 11.21 | 9.27 |
Asset Turnover |
0.06 | 0.05 | 0.04 | 0.04 | 0.04 | 0.02 | 0.04 | 0.03 | 0.03 | 0.04 |
Operating CF/Net income |
1.33 | (0.14) | (0.33) | (0.27) | 0.96 | (0.34) | 0.24 | 0.31 | 0.38 | 0.99 |
Capex/Depreciation |
4.87 | 2.21 | 3.29 | (0.67) | (0.20) | 0.38 | (0.09) | 0.02 | (1.50) | 0.28 |
| 11.55% | (10.77%) | (7.74%) | (22.05%) | 7.94% | (18.82%) | 11.18% | 10.04% | 11.08% | 7.73% | |
| 0.93% | (1.25%) | (1.32%) | (5.72%) | 2.80% | (2.34%) | 0.76% | 0.59% | 0.73% | 0.61% | |
ROIC |
0.78% | (0.33%) | 0.13% | (4.65%) | 2.69% | (3.88%) | 0.46% | 0.45% | 0.49% | 0.51% |
Return on Tangible Assets |
2.05% | (2.38%) | (2.42%) | (8.20%) | 3.36% | (9.37%) | 0.69% | 0.62% | 0.75% | 0.71% |
Average Days of Receivables |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 91.95 | 108.24 | 158.12 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
19.39% | 30.93% | 53.27% | 48.31% | 28.28% | 12.17% | 7.11% | 9.10% | 6.25% | 7.68% |
Intangible Assets out of Total Assets |
0.00 | 0.00 | 0.00 | 0.00 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Share Based Compensation of Revenue |
1.36% | 1.51% | 3.41% | 4.60% | 4.95% | 2.83% | 0.77% | 0.57% | 0.45% | 0.16% |
Graham Net Nets |
(9.86) | (6.77) | (3.21) | (0.59) | 0.49 | 0.85 | (0.15) | (0.85) | (1.06) | (0.44) |
Graham Number |
15.65 | 0.00 | 0.00 | 0.00 | 25.67 | 0.00 | 42.39 | 40.47 | 38.76 | 33.71 |
Earnings Yield |
15.21% | (18.81%) | (11.75%) | (34.22%) | 10.22% | (27.10%) | 10.43% | 11.04% | 11.13% | 7.54% |
Free Cash Flow Yield |
49.57% | 26.64% | 26.55% | (1.01%) | 9.13% | 8.59% | 2.89% | 3.16% | 4.25% | 7.41% |
Revenue per Share |
6.66 | 4.42 | 2.84 | 2.74 | 2.18 | 3.78 | 12.55 | 14.33 | 13.09 | 11.65 |
Operating CF per Share |
1.48 | 0.15 | 0.33 | 0.97 | 1.47 | 1.19 | 0.63 | 0.76 | 1.05 | 1.97 |
Capex per Share |
2.14 | 1.46 | 1.89 | (1.08) | (0.11) | 0.06 | 0.09 | (0.01) | (0.01) | 0.08 |
Free Cash Flow per Share |
3.62 | 1.61 | 2.21 | (0.11) | 1.36 | 1.25 | 0.72 | 0.75 | 1.04 | 2.04 |
Cash per Share |
2.33 | 1.84 | 2.06 | 2.59 | 3.05 | 3.16 | 2.15 | 3.26 | 3.40 | 3.05 |
Shareholders Equity per Share |
15.79 | 15.40 | 17.58 | 19.09 | 24.95 | 24.88 | 39.84 | 37.10 | 34.91 | 31.07 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
15.79 | 15.40 | 17.58 | 19.09 | 24.95 | 24.88 | 39.84 | 37.10 | 34.91 | 31.07 |
Free Cash Flow |
327.24 | 146.63 | 201.61 | (10.03) | 128.87 | 116.30 | 39.85 | 23.72 | 29.04 | 55.98 |
Working Capital |
4,372.56 | 3,728.75 | 2,582.78 | 3,462.63 | 3,275.87 | 3,469.19 | 20,899.69 | 12,788.73 | 10,214.37 | 7,711.76 |
Capital Expenditures |
193.20 | 132.56 | 171.66 | (101.81) | (10.04) | 5.55 | 4.75 | (0.46) | (0.30) | 2.13 |
Net Current Asset Value |
(6,506.74) | (3,723.15) | (2,434.06) | (583.10) | 692.31 | 1,157.93 | (201.39) | (636.17) | (726.66) | (322.74) |
EV/EBIT |
75.36 | 0.00 | 427.68 | 0.00 | 18.21 | 0.00 | 129.65 | 135.64 | 125.42 | 120.71 |
Capex to Sales |
(0.32) | (0.33) | (0.66) | 0.39 | 0.05 | (0.02) | (0.01) | 0.00 | 0.00 | (0.01) |
Price to Operating Income |
4.47 | 0.00 | 64.22 | 0.00 | 7.39 | 0.00 | 8.00 | 7.22 | 7.43 | 10.28 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.07 | 0.10 | 0.05 | 0.22 | 0.05 | 0.29 | (6.18) | 0.00 | 0.00 | 0.00 |
Cash ROIC |
2.66% | 1.67% | 3.21% | (0.20%) | 2.57% | 2.42% | 0.17% | 0.16% | 0.24% | 0.63% |
Accounts Receivable Turnover |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 4.89 | 4.08 | 2.97 | 2.87 |
Accounts Payable Turnover |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Inventory Turnover |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Days of Payables |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Days of Inventory on Hand |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Receivables |
— | — | — | — | — | — | 142.02 | 111.69 | 123.45 | 111.16 |
Average Assets |
10,928.07 | 8,309.31 | 6,821.04 | 5,949.52 | 5,156.94 | 14,069.48 | 19,110.51 | 13,396.97 | 10,503.96 | 9,003.94 |
Average Common Equity |
875.14 | 963.97 | 1,163.29 | 1,544.56 | 1,814.99 | 1,751.54 | 1,295.40 | 788.39 | 689.07 | 706.59 |
Columns are period end dates