What is Adamas Trust, Inc.'s earnings per share (EPS)?

Adamas Trust, Inc. (ADAM) reported diluted earnings per share of $1.10 for fiscal year 2025. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Adamas Trust, Inc. (ADAM) Financials

ADAM

FY2025 annual

Revenue $601.9M +50.0% YoY

Net Income $149.0M +340.3% YoY

EPS (Diluted) $1.10 YoY not available

Free Cash Flow $125.9M +1290.3% YoY

Market Cap $810.7M as of Sep 14, 2026

Price / Sales 1.2x on $677.8M revenue, trailing 12 months to June 30, 2026

Price / Earnings 4.0x on $202.1M net income, trailing 12 months to June 30, 2026

Price / Book 0.6x on $1.5B equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 14, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Jul 31, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Jul 31, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the ADAM SEC filings page.

Adamas Trust, Inc. (ADAM) reported $601.9M in revenue for fiscal year 2025, up 50.0% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI ADAM FY2025 2026-09-05

Adamas Trust’s reported turnaround is paired with an asset-heavy balance sheet and financing-led investment, not simple operating scale.

The 2025 earnings rebound is unusually cash-consistent: net income of $149M nearly matched operating cash flow of $134M. That alignment contrasts with FY2024’s negative free-cash-flow margin of -2.6%, indicating the rebound reached cash generation rather than remaining an accrual-only result.

At FY2025 year-end, assets were $12.6B against $602M of revenue, so revenue-based margins understate the capital base needed to produce them. Return on assets was only 1.2%, making asset efficiency a more informative lens here.

Investing outflows reached $2.9B in FY2025 while financing inflows were $2.8B, meaning expansion was funded primarily through external financing rather than internally generated cash. Meanwhile, liabilities were 88.7% of assets despite debt-to-equity of 0.5x, showing that the headline debt ratio does not capture the balance sheet’s full obligation load.

Financial Health Signals

Financial Health Score 59/100

Scored as: REITs peer group

Scored against REITs for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Adamas Trust, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

FFO Margin

FFO Margin measures funds from operations against revenue, and funds from operations is net income with property depreciation added back, since a building written down a little further every year on paper is often worth more rather than less. Adamas Trust, Inc. scores 41/100 on it among other REITs.

FFO Growth

FFO Growth follows the three-year path of funds from operations, which is net income with property depreciation added back. Adamas Trust, Inc. scores 91/100 on it among other REITs.

Leverage

Adamas Trust, Inc.'s net debt of $525.5M, being $735.8M of long-term debt less $210.3M of cash, came to 3.27 times its EBITDA in fiscal year 2025. REITs are ranked here on that debt against their EBITDA, where a lower multiple is the safer one, and Adamas Trust, Inc. scores 74/100 among other REITs.

Interest Cov.

Adamas Trust, Inc.'s operating income of $137.8M covered its interest expense of $452.6M 0.30 times over in fiscal year 2025. The interest coverage axis ranks REITs on operating income against interest owed, and Adamas Trust, Inc. scores 29/100 among other REITs.

AFFO Margin

AFFO Margin takes funds from operations, subtracts the spending a REIT needs just to keep its properties in working order, and measures what is left against revenue. Adamas Trust, Inc. scores 40/100 on it among other REITs.

Dividend Cov.

Dividend coverage measures funds from operations against the dividends actually paid, and a figure above 1 means the payout came out of operations. Adamas Trust, Inc. scores 80/100 on it among other REITs.

Piotroski F-Score Partial

6/7

Adamas Trust, Inc. passes 6 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 3 of 4 profitability signals pass, all 2 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Mixed

0.90x

For every $1 of reported earnings, Adamas Trust, Inc. generates $0.90 in operating cash flow ($134.0M OCF vs $149.0M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Interest Coverage At Risk

0.30x

Adamas Trust, Inc. earns $0.30 in operating income for every $1 of interest expense ($137.8M vs $452.6M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue

$174.4M

YoY+23.8%

QoQ+1.4%

5Y CAGR+27.3%

10Y CAGR+8.1%

Adamas Trust, Inc. generated $174.4M in revenue in Q2 2026. This represents an increase of 23.8% from the same quarter a year earlier. Against the prior quarter it is up 1.4%.

EBITDA

$57.6M

YoY+463.8%

QoQ-37.0%

Adamas Trust, Inc.'s EBITDA was $57.6M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 463.8% from the same quarter a year earlier. Against the prior quarter it is down 37.0%.

Net Income

$55.2M

YoY+545.7%

QoQ+13.5%

5Y CAGR+0.7%

10Y CAGR+14.4%

Adamas Trust, Inc. reported $55.2M in net income in Q2 2026. This represents an increase of 545.7% from the same quarter a year earlier. Against the prior quarter it is up 13.5%.

EPS (Diluted)

$0.47

YoY+1275.0%

QoQ+17.5%

5Y CAGR+33.7%

10Y CAGR+16.7%

Adamas Trust, Inc. earned $0.47 per diluted share (EPS) in Q2 2026. This represents an increase of 1275.0% from the same quarter a year earlier. Against the prior quarter it is up 17.5%.

Cash & Balance Sheet

Cash & Debt

$212.3M

YoY+32.3%

QoQ+1.6%

5Y CAGR-8.2%

10Y CAGR+15.6%

Adamas Trust, Inc. held $212.3M in cash against $668.3M in long-term debt as of Q2 2026.

Dividends Per Share

$0.27

YoY+35.0%

QoQ+17.4%

5Y CAGR-7.6%

10Y CAGR+1.2%

Adamas Trust, Inc. paid $0.27 per share in dividends in Q2 2026. This represents an increase of 35.0% from the same quarter a year earlier. Against the prior quarter it is up 17.4%.

Shares Outstanding

90M

YoY-0.5%

QoQ0.0%

5Y CAGR-25.0%

10Y CAGR-2.0%

Adamas Trust, Inc. had 90M shares outstanding in Q2 2026. This represents a decrease of 0.5% from the same quarter a year earlier. It is unchanged from the prior quarter.

Free Cash Flow

Not reported for Q2 2026.

Margins & Returns

Operating Margin

30.4%

YoY+27.4pp

QoQ-20.0pp

5Y change-68.5pp

Adamas Trust, Inc.'s operating margin was 30.4% in Q2 2026, reflecting core business profitability. This is up 27.4 percentage points from the same quarter a year earlier. Against the prior quarter it is down 20.0 percentage points.

Net Margin

31.6%

YoY+25.6pp

QoQ+3.4pp

10Y change+13.5pp

Adamas Trust, Inc.'s net profit margin was 31.6% in Q2 2026, showing the share of revenue converted to profit. This is up 25.6 percentage points from the same quarter a year earlier. Against the prior quarter it is up 3.4 percentage points.

Return on Equity

3.8%

YoY+3.1pp

QoQ+0.4pp

5Y change+1.5pp

10Y change+2.1pp

Adamas Trust, Inc.'s ROE was 3.8% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 3.1 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.4 percentage points.

Gross Margin

Not reported for Q2 2026.

Capital Allocation

Share Buybacks

YoY-100.0%

QoQ-100.0%

Adamas Trust, Inc. repurchased no shares in Q2 2026. This represents a decrease of 100.0% from the same quarter a year earlier. Against the prior quarter it is down 100.0%.

R&D Spending

Not reported for Q2 2026.

Capital Expenditures

Not reported for Q2 2026.

ADAM Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

ADAM quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$677.8M	$601.9M+50.0%	$401.3M+55.1%	$258.7M+78.1%	$145.3M+9.1%	$133.1M+4.2%	$127.8M-1.7%	$130.0M+43.0%	$90.9M+27.0%	$71.5M-77.6%	$319.3M-5.2%	$336.8M-11.1%	$378.8M+29.9%	$291.7M+112.4%	$137.3M	N/A
SG&A Expenses	$98.6M	$72.7M+49.3%	$48.7M-1.8%	$49.6M-5.5%	$52.4M+7.2%	$48.9M+15.8%	$42.2M+18.0%	$35.8M+28.4%	$27.9M-32.1%	$41.1M+16.6%	$35.2M-10.8%	$39.5M-2.4%	$40.5M+103.1%	$19.9M+74.3%	$11.4M+8.6%	$10.5M
Operating Income	$235.6M	$137.8M+248.3%	-$92.9M-19.5%	-$77.7M+77.1%	-$340.1M-278.1%	$190.9M+166.5%	-$287.3M-266.6%	$172.5M+66.3%	$103.7M+12.9%	$91.9M	N/A	N/A	N/A	N/A	N/A	N/A
EBITDA	N/A	$160.9M+403.1%	-$53.1M0.0%	-$53.1M+75.1%	-$213.3M-201.5%	$210.2M+173.3%	-$286.9M-266.3%	$172.5M	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$499.4M	$452.6M+42.6%	$317.4M+65.2%	$192.1M+48.5%	$129.4M+63.2%	$79.3M-64.5%	$223.1M-60.6%	$566.8M+50.3%	$377.1M+22.4%	$308.1M+21.0%	$254.7M+1753.9%	$13.7M+146.7%	$5.6M-16.3%	$6.7M+82.6%	$3.6M-24.6%	$4.8M
Income Tax	-$170K	$145K-86.0%	$1.0M+1281.3%	$75K-86.2%	$542K-77.9%	$2.5M+150.6%	$981K+334.1%	-$419K+60.4%	-$1.1M-131.5%	$3.4M+8.4%	$3.1M-31.8%	$4.5M-29.1%	$6.4M+765.4%	$739K-20.7%	$932K+115.2%	$433K
Net Income	$202.1M	$149.0M+340.3%	-$62.0M-27.5%	-$48.7M+83.7%	-$298.6M-254.6%	$193.2M+167.0%	-$288.5M-266.1%	$173.7M+68.9%	$102.9M+11.9%	$92.0M+36.2%	$67.6M-13.4%	$78.0M-42.7%	$136.2M+97.5%	$69.0M+143.8%	$28.3M+492.1%	$4.8M
EPS (Basic)	N/A	$1.12+198.2%	-$1.14-15.2%	-$0.99+72.6%	-$3.61-337.5%	$1.52+270.8%	-$0.89-236.9%	$0.65+4.8%	$0.62-8.8%	$0.68+36.0%	$0.50-19.4%	$0.62-58.1%	$1.48+33.3%	$1.11+2.8%	$1.08+134.8%	$0.46
EPS (Diluted)	$1.68	$1.10	-$1.14-15.2%	-$0.99	-$3.61	$1.51	-$0.89-239.1%	$0.64	$0.61-7.6%	$0.66+32.0%	$0.50-19.4%	$0.62-58.1%	$1.48+33.3%	$1.11	$1.08	$0.46
Diluted Shares (Avg)	N/A	92M	91M-0.2%	91M	94M	95M	371M+52.9%	243M	147M+13.1%	130M+18.9%	110M+1.1%	108M+23.4%	88M+48.7%	59M	26M	10M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$174.4M+23.8%	$172.1M+32.6%	$170.7M+44.3%	$160.6M+48.2%	$140.9M+55.2%	$129.7M+54.6%	$118.3M+50.1%	$108.4M+66.2%
SG&A Expenses	$25.6M+117.3%	$24.5M+97.3%	$25.1M+108.7%	$23.3M+95.5%	$11.8M+1.2%	$12.4M-4.9%	$12.0M+2.5%	$11.9M+1.0%
Operating Income	$53.1M+1140.1%	$86.7M+130.0%	$56.3M+277.1%	$39.5M-7.7%	$4.3M+118.0%	$37.7M+147.0%	-$31.8M-196.8%	$42.8M+145.6%
EBITDA	$57.6M+463.8%	$91.3M+109.5%	$61.7M+347.6%	$45.4M-10.8%	$10.2M+188.7%	$43.6M+164.5%	-$24.9M-163.7%	$50.9M+158.0%
Interest Expense	$124.2M+18.9%	$123.7M+28.0%	$127.5M+39.3%	$124.0M+40.8%	$104.5M+45.6%	$96.6M+46.4%	$91.5M+47.7%	$88.1M+82.1%
Income Tax	$13K+108.1%	$159K-75.5%	-$44K+97.1%	-$298K-112.8%	-$161K-147.1%	$648K+683.8%	-$1.5M-1242.9%	$2.3M+4251.8%
Net Income	$55.2M+545.7%	$48.6M+15.3%	$53.5M+270.5%	$44.8M+4.6%	$8.5M+154.8%	$42.2M+172.8%	-$31.4M-174.9%	$42.8M+150.7%
EPS (Basic)	$0.48+1300.0%	$0.41+24.2%	$0.46+200.0%	$0.360.0%	-$0.04+86.2%	$0.33+144.0%	-$0.46-235.3%	$0.36+134.6%
EPS (Diluted)	$0.47+1275.0%	$0.40+21.2%	$0.45	$0.360.0%	-$0.04+86.2%	$0.33	-$0.46	$0.36+134.6%
Diluted Shares (Avg)	92M+2.2%	92M+1.1%	N/A	92M+1.1%	90M-0.7%	91M	N/A	91M-0.4%

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses.

ADAM Balance Sheet

ADAM quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$12.6B+37.1%	$9.2B+24.5%	$7.4B+18.6%	$6.2B+10.3%	$5.7B+21.5%	$4.7B-80.2%	$23.5B+59.3%	$14.7B+22.2%	$12.1B+34.7%	$9.0B-1.2%	$9.1B-14.1%	$10.5B+6.5%	$9.9B+38.2%	$7.2B+948.8%	$682.7M
Cash & Equivalents	$210.3M+25.6%	$167.4M-10.5%	$187.1M-23.5%	$244.7M-15.5%	$289.6M-1.2%	$293.2M+146.9%	$118.8M+14.5%	$103.7M+9.0%	$95.2M+13.9%	$83.6M+34.9%	$62.0M-18.0%	$75.6M+137.7%	$31.8M+0.1%	$31.8M+91.6%	$16.6M
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0-100.0%	$912.4M-11.8%	$1.0B+416.5%	$200.3M
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$22.4M	$0	N/A	N/A	N/A	$0-100.0%	$25.2M0.0%	$25.2M0.0%	$25.2M0.0%	$25.2M	$0	N/A	N/A	N/A	N/A
Total Liabilities	$11.2B+43.6%	$7.8B+35.2%	$5.8B+31.9%	$4.4B+35.6%	$3.2B+37.4%	$2.3B-89.0%	$21.3B+57.0%	$13.6B+22.4%	$11.1B+36.8%	$8.1B-0.9%	$8.2B-15.9%	$9.7B+3.2%	$9.4B+37.7%	$6.8B+1046.6%	$596.4M
Long-Term Debt	$735.8M+28.4%	$573.2M-38.6%	$934.1M+72.2%	$542.5M-45.8%	$1.0B+355.3%	$220.0M-1.6%	$223.6M+4.4%	$214.3M-10.9%	$240.4M	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$1.4B+2.3%	$1.4B-11.7%	$1.6B-10.6%	$1.8B-24.5%	$2.3B+1.7%	$2.3B+4.3%	$2.2B+87.0%	$1.2B+21.4%	$971.9M+14.6%	$848.1M-3.7%	$880.5M+7.7%	$817.9M+70.2%	$480.7M+49.3%	$322.0M+277.6%	$85.3M
Retained Earnings	-$1.4B+1.5%	-$1.4B-14.1%	-$1.3B-19.1%	-$1.1B-88.2%	-$559.3M-1.5%	-$551.3M-270.3%	-$148.9M-44.3%	-$103.2M-36.3%	-$75.7M-21.1%	-$62.5M-439.9%	-$11.6M-135.5%	$32.6M	N/A	-$51.6M+35.4%	-$79.9M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$13.0B+22.9%	$12.8B+27.9%	$12.6B+37.1%	$12.4B+39.3%	$10.6B+28.2%	$10.0B+34.3%	$9.2B+24.5%	$8.9B+28.4%
Cash & Equivalents	$212.3M+32.3%	$208.9M+18.0%	$210.3M+25.6%	$185.3M-5.0%	$160.4M-31.9%	$177.1M-22.0%	$167.4M-10.5%	$195.1M-14.6%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$22.4M	$22.4M	$22.4M	$22.4M	N/A	N/A	$0	N/A
Total Liabilities	$11.5B+25.5%	$11.3B+32.0%	$11.2B+43.6%	$11.0B+47.9%	$9.2B+35.4%	$8.6B+44.8%	$7.8B+35.2%	$7.4B+39.7%
Long-Term Debt	$668.3M+2.3%	$669.5M+2.3%	$735.8M+28.4%	$766.6M+9.6%	$653.0M-18.4%	$654.4M-34.6%	$573.2M-38.6%	$699.4M+28.5%
Total Equity	$1.5B+6.6%	$1.5B+3.9%	$1.4B+2.3%	$1.4B-3.7%	$1.4B-3.5%	$1.4B-5.6%	$1.4B-11.7%	$1.4B-8.3%
Retained Earnings	-$1.4B+4.6%	-$1.4B+1.8%	-$1.4B+1.5%	-$1.4B-4.3%	-$1.4B-4.0%	-$1.4B-5.8%	-$1.4B-14.1%	-$1.4B-8.3%

Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, Current Liabilities, Non-Current Liabilities.

ADAM Cash Flow Statement

ADAM quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	$158.2M	$134.0M+852.6%	$14.1M-53.0%	$30.0M-67.4%	$91.8M-33.9%	$138.9M+25.4%	$110.8M+215.5%	$35.1M+45.2%	$24.2M-17.6%	$29.3M-45.5%	$53.8M+48.2%	$36.3M-3.2%	$37.6M-29.6%	$53.3M+83.2%	$29.1M+116.9%	$13.4M
Depreciation & Amortization	N/A	$23.1M-41.9%	$39.8M+61.7%	$24.6M-80.6%	$126.8M+558.8%	$19.3M+4887.0%	$386K	$0	N/A	N/A	N/A	N/A	-$2.7M-119.9%	$13.4M+28.0%	$10.5M+84.5%	$5.7M
Stock-Based Compensation	N/A	$8.2M+35.1%	$6.1M-31.2%	$8.8M-25.8%	$11.9M+16.2%	$10.2M+3.2%	$9.9M+84.9%	$5.4M+107.9%	$2.6M+58.2%	$1.6M+217.5%	$514K-47.7%	$983K-16.7%	$1.2M+31.5%	$897K+8.6%	$826K+293.3%	$210K
Capital Expenditures	N/A	$8.2M-66.9%	$24.6M-51.1%	$50.4M-75.9%	$209.4M+354.6%	$46.1M+22258.7%	$206K+60.9%	$128K-72.0%	$457K+54.4%	$296K	$0	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	$125.9M+1290.3%	-$10.6M+48.3%	-$20.5M+82.6%	-$117.6M-226.6%	$92.9M-16.0%	$110.5M+216.1%	$35.0M+47.4%	$23.7M-18.3%	$29.0M-46.1%	$53.8M	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$2.1B	-$2.9B-29.1%	-$2.2B-84.0%	-$1.2B-139.8%	-$508.8M-282.7%	-$132.9M-106.3%	$2.1B+375.4%	-$769.1M-19.7%	-$642.5M-46.0%	-$439.9M-738.9%	$68.9M-72.5%	$250.5M+300.4%	-$125.0M+17.9%	-$152.3M+85.7%	-$1.1B-1019.1%	-$95.3M
Financing Cash Flow	$2.0B	$2.8B+24.6%	$2.2B+95.6%	$1.1B+147.7%	$460.1M+1578.6%	$27.4M+101.3%	-$2.0B-374.1%	$746.4M+20.2%	$621.2M+64.7%	$377.3M+672.4%	-$65.9M+80.3%	-$333.9M-354.4%	$131.3M+32.6%	$99.0M-90.6%	$1.1B+1230.8%	$79.1M
Dividends Paid	$81.1M	$75.5M+0.7%	$74.9M-41.8%	$128.8M-15.1%	$151.8M+0.1%	$151.6M+43.7%	$105.5M-35.4%	$163.4M+66.8%	$97.9M+4.3%	$93.9M	N/A	N/A	N/A	N/A	$22.3M+169.7%	$8.3M
Share Buybacks	$5.0M	$1.5M-57.0%	$3.5M-59.5%	$8.6M-80.6%	$44.4M	$0	$0	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	$105.9M+170.0%	-$16.7M-164.7%	$62.1M+113.2%	$6.9M+850.7%	$39.2M+4049.5%	$25.8M+296.6%	$29.1M+122.6%	-$922K-103.2%
Depreciation & Amortization	$4.5M-24.3%	$4.6M-21.6%	$5.4M-22.0%	$5.9M-27.0%	$5.9M-51.5%	$5.9M-53.1%	$6.9M+10.1%	$8.1M+31.1%
Stock-Based Compensation	N/A	$175K-79.7%	N/A	N/A	N/A	$861K	N/A	N/A
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	$3.5M-38.4%	$7.6M-35.5%
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	$25.7M+243.5%	-$8.6M-151.8%
Investing Cash Flow	-$300.5M+16.5%	-$67.0M+91.6%	-$148.1M+74.7%	-$1.6B-91.2%	-$360.0M+37.1%	-$794.2M-212.7%	-$584.3M-47.0%	-$834.1M-10.0%
Financing Cash Flow	$138.5M-55.8%	$106.7M-85.0%	$130.6M-76.3%	$1.6B+102.6%	$313.5M-43.1%	$713.8M+118.1%	$552.2M+53.6%	$798.8M+8.0%
Dividends Paid	$20.8M+14.4%	$21.4M+16.0%	$20.8M+14.8%	$18.1M-0.2%	$18.2M-0.4%	$18.5M-9.8%	$18.1M-33.4%	$18.1M-33.8%
Share Buybacks	$0-100.0%	$5.0M	$0	$0	$1.5M-57.0%	$0	$0	$0-100.0%

ADAM Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

ADAM quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Margin	22.9%+46.1pp	-23.2%+6.9pp	-30.0%	-131.6%	143.5%	-82.0%	132.7%	114.2%	128.5%	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	24.8%+40.2pp	-15.5%+3.4pp	-18.8%	-205.6%	145.2%	-225.8%	133.7%	113.2%	128.6%	21.2%-2.0pp	23.2%-12.8pp	35.9%+12.3pp	23.6%+3.0pp	20.6%	N/A
Return on Equity	10.4%+14.9pp	-4.5%-1.4pp	-3.1%+13.8pp	-16.9%-25.1pp	8.3%+20.8pp	-12.5%-20.4pp	7.9%-0.8pp	8.7%-0.7pp	9.5%+1.5pp	8.0%-0.9pp	8.9%-7.8pp	16.7%+2.3pp	14.3%+5.6pp	8.8%+3.2pp	5.6%
Return on Assets	1.2%+1.8pp	-0.7%0.0pp	-0.7%+4.1pp	-4.8%-8.2pp	3.4%+9.6pp	-6.2%-6.9pp	0.7%0.0pp	0.7%-0.1pp	0.8%0.0pp	0.8%-0.1pp	0.9%-0.4pp	1.3%+0.6pp	0.7%+0.3pp	0.4%-0.3pp	0.7%
Debt-to-Equity	0.52+0.1x	0.41-0.2x	0.59+0.3x	0.31-0.1x	0.43+0.3x	0.100.0x	0.10-0.1x	0.18-0.1x	0.25-9.3x	9.55+0.3x	9.29-2.6x	11.89-7.7x	19.59-1.6x	21.24+14.2x	6.99
Asset Turnover	0.050.0x	0.040.0x	0.030.0x	0.020.0x	0.020.0x	0.030.0x	0.010.0x	0.010.0x	0.010.0x	0.040.0x	0.040.0x	0.040.0x	0.030.0x	0.02	N/A
FCF Margin	20.9%+23.6pp	-2.6%+5.3pp	-7.9%+73.0pp	-81.0%-150.7pp	69.8%-16.8pp	86.5%+59.6pp	26.9%+0.8pp	26.1%-14.5pp	40.6%+23.7pp	16.9%	N/A	N/A	N/A	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Margin	30.4%+27.4pp	50.4%+21.3pp	33.0%+59.9pp	24.6%-14.9pp	3.0%+29.2pp	29.1%+124.6pp	-26.9%-68.6pp	39.5%
Net Margin	31.6%+25.6pp	28.2%-4.2pp	31.4%+57.9pp	27.9%-11.6pp	6.1%+23.2pp	32.5%+101.5pp	-26.5%-79.7pp	39.5%
Return on Equity	3.8%+3.1pp	3.3%+0.3pp	3.8%+6.0pp	3.2%+0.2pp	0.6%+1.7pp	3.0%+6.9pp	-2.3%-4.9pp	3.0%+8.3pp
Return on Assets	0.4%+0.4pp	0.4%0.0pp	0.4%+0.8pp	0.4%-0.1pp	0.1%+0.3pp	0.4%+1.2pp	-0.3%-0.9pp	0.5%+1.7pp
Debt-to-Equity	0.450.0x	0.460.0x	0.52+0.1x	0.55+0.1x	0.47-0.1x	0.47-0.2x	0.41-0.2x	0.48+0.1x
Asset Turnover	0.010.0x	0.010.0x	0.010.0x	0.010.0x	0.010.0x	0.010.0x	0.010.0x	0.010.0x
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	21.7%+12.2pp	-7.9%-33.3pp

Not reported in any period shown, so not listed: Gross Margin, Current Ratio.

Where Adamas Trust, Inc. Ranks

Frequently Asked Questions

What is Adamas Trust, Inc.'s annual revenue?

Adamas Trust, Inc. (ADAM) reported $601.9M in total revenue for fiscal year 2025. This represents a 50.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Adamas Trust, Inc.'s revenue growing?

Adamas Trust, Inc. (ADAM) revenue grew by 50.0% year-over-year, from $401.3M to $601.9M in fiscal year 2025.

Is Adamas Trust, Inc. profitable?

Yes, Adamas Trust, Inc. (ADAM) reported a net income of $149.0M in fiscal year 2025, with a net profit margin of 24.8%.

What is Adamas Trust, Inc.'s EBITDA?

Adamas Trust, Inc. (ADAM) had EBITDA of $160.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Adamas Trust, Inc. have?

As of fiscal year 2025, Adamas Trust, Inc. (ADAM) had $210.3M in cash and equivalents against $735.8M in long-term debt.

What is Adamas Trust, Inc.'s operating margin?

Adamas Trust, Inc. (ADAM) had an operating margin of 22.9% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Adamas Trust, Inc.'s net profit margin?

Adamas Trust, Inc. (ADAM) had a net profit margin of 24.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Adamas Trust, Inc.'s return on equity (ROE)?

Adamas Trust, Inc. (ADAM) has a return on equity of 10.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Adamas Trust, Inc.'s free cash flow?

Adamas Trust, Inc. (ADAM) generated $125.9M in free cash flow during fiscal year 2025. This represents a 1290.3% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Adamas Trust, Inc.'s operating cash flow?

Adamas Trust, Inc. (ADAM) generated $134.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Adamas Trust, Inc.'s total assets?

Adamas Trust, Inc. (ADAM) had $12.6B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Adamas Trust, Inc.'s capital expenditures?

Adamas Trust, Inc. (ADAM) invested $8.2M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Does Adamas Trust, Inc. buy back shares?

Yes, Adamas Trust, Inc. (ADAM) spent $1.5M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Adamas Trust, Inc. have outstanding?

Adamas Trust, Inc. (ADAM) had 90M shares outstanding as of fiscal year 2025.

What is Adamas Trust, Inc.'s debt-to-equity ratio?

Adamas Trust, Inc. (ADAM) had a debt-to-equity ratio of 0.52 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Adamas Trust, Inc.'s return on assets (ROA)?

Adamas Trust, Inc. (ADAM) had a return on assets of 1.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Adamas Trust, Inc.'s P/E ratio?

Adamas Trust, Inc. (ADAM) trades at 4.0x earnings, its market capitalization divided by net income of $202.1M net income, trailing 12 months to June 30, 2026. The market capitalization is $810.7M as of Sep 14, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Adamas Trust, Inc.'s price-to-sales ratio?

Adamas Trust, Inc. (ADAM) trades at 1.2x sales, its market capitalization divided by revenue of $677.8M revenue, trailing 12 months to June 30, 2026. The market capitalization is $810.7M as of Sep 14, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Adamas Trust, Inc.'s Piotroski F-Score?

Adamas Trust, Inc. (ADAM) has a Piotroski F-Score of 6 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Adamas Trust, Inc.'s earnings high quality?

Adamas Trust, Inc. (ADAM) has an earnings quality ratio of 0.90x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Adamas Trust, Inc. cover its interest payments?

Adamas Trust, Inc. (ADAM) has an interest coverage ratio of 0.30x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Adamas Trust, Inc.?

Adamas Trust, Inc. (ADAM) scores 59 out of 100 on our Financial Health Score, indicating moderate standing within its REITs peer group. The score is a 0-100 composite of six dimensions (FFO Margin, FFO Growth, Leverage, Interest Cov., AFFO Margin, Dividend Cov.), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.