Adamas Trust, Inc. (ADAM) vs Ladder Capital Corp (LADR)

Adamas Trust, Inc. and Ladder Capital Corp are both Reit Mortgage companies. Ladder Capital Corp is the larger, with a market value of $1.2B against $731.6M — 1.6× the size. Adamas Trust, Inc. trades at the lower P/E: 4.8× against 21.6×. Adamas Trust, Inc. grew revenue faster over the last twelve months: 36.3% against −11.0%. Ladder Capital Corp has the higher net margin (54.6% vs 22.8%) and the lower return on invested capital (0.56% vs 1.22%). Both pay a dividend; Adamas Trust, Inc. yields more (17.2% vs 8.62%). Across the 22 metrics below, Adamas Trust, Inc. leads on 14 and Ladder Capital Corp on 8.

Valuation

Metric ADAM LADR Reit Mortgage median
P/E 4.76 21.62 7.80
P/S 1.08 11.83 1.90
P/B 0.79 0.79 0.61
Price to free cash flow 1.45 12.02 5.90
EV/EBITDA 41.30 49.67 28.40
EV/Sales 17.06 53.10 16.02
Earnings yield 21.01% 4.63% 7.68%
Free cash flow yield 68.93% 8.32% 11.60%

Profitability

Metric ADAM LADR Reit Mortgage median
Gross margin 27.01% 100.00% 100.00%
Operating margin 35.40% 49.94% 35.40%
Net margin 22.81% 54.61% 11.85%
Free cash flow margin 74.49% 99.69% 26.68%
Return on equity 17.44% 3.57% 4.81%
Return on assets 1.32% 1.04% 0.62%
Return on invested capital 1.22% 0.56% 1.22%

Growth

Metric ADAM LADR Reit Mortgage median
Revenue growth (TTM) 36.30% (10.95%) 4.70%
EPS growth (last fiscal year) 196.49% (40.70%) —
Revenue growth, 5-year CAGR 11.44% 49.36% 14.60%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric ADAM LADR Reit Mortgage median
Debt to equity 7.51 2.81 3.30
Current ratio 18.54 44.15 1.00
Net debt to EBITDA 55.86 36.15 18.31

Dividend

Metric ADAM LADR Reit Mortgage median
Dividend yield 17.16% 8.62% 13.05%
Payout ratio 8.00 0.83 1.24

Size

Metric ADAM LADR Reit Mortgage median
Market cap 731.62m 1.15b 517.48m

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