Adamas Trust, Inc. 9.125% Senior Notes Due 2029 (ADAMI) Financials
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 ADAMI SEC filings page.
Adamas Trust, Inc. 9.125% Senior Notes Due 2029 (ADAMI) 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).
This is a leveraged mortgage-trust balance sheet where asset growth and earnings can swing sharply between years.
From FY2024 to FY2025, total assets expanded by$3.4B while total liabilities expanded by the same amount. Equity increased only$32M , indicating that the larger balance sheet was funded overwhelmingly through additional obligations rather than accumulated earnings.
Reported net income swung from a
FY2025 investing activity used
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed: here 4 of 6, with the others left out rather than counted as zero. 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. 9.125% Senior Notes Due 2029'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.
Adamas Trust, Inc. 9.125% Senior Notes Due 2029 has an operating margin of 22.9%, meaning the company retains $23 of operating profit per $100 of revenue. Among its peers this margin ranks in the lower range, for a profitability score of 22/100. This is up from -23.2% the prior year.
Adamas Trust, Inc. 9.125% Senior Notes Due 2029's revenue surged 50.0% year-over-year to $601.9M, reflecting rapid business expansion. This strong growth earns a score of 95/100.
Adamas Trust, Inc. 9.125% Senior Notes Due 2029 has elevated debt relative to equity (D/E of 0.52), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 19/100, reflecting increased financial risk.
Not available for Adamas Trust, Inc. 9.125% Senior Notes Due 2029, so it is left out of the overall score, which averages the 4 of 6 dimensions that can be computed.
Adamas Trust, Inc. 9.125% Senior Notes Due 2029 has a free cash flow margin of 20.9%, earning a moderate score of 59/100. The company generates positive cash flow after capital investments, but with room for improvement.
Not available for Adamas Trust, Inc. 9.125% Senior Notes Due 2029, so it is left out of the overall score, which averages the 4 of 6 dimensions that can be computed.
Adamas Trust, Inc. 9.125% Senior Notes Due 2029 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, the one computable operating efficiency signal (asset turnover improving) passes.
For every $1 of reported earnings, Adamas Trust, Inc. 9.125% Senior Notes Due 2029 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.
Adamas Trust, Inc. 9.125% Senior Notes Due 2029 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
Earnings & Revenue
Adamas Trust, Inc. 9.125% Senior Notes Due 2029 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%.
Adamas Trust, Inc. 9.125% Senior Notes Due 2029'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%.
Adamas Trust, Inc. 9.125% Senior Notes Due 2029 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%.
Adamas Trust, Inc. 9.125% Senior Notes Due 2029 earned $0.47 per diluted share (EPS) in Q2 2026. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. Against the prior quarter it is up 17.5%.
Cash & Balance Sheet
Adamas Trust, Inc. 9.125% Senior Notes Due 2029 held $212.3M in cash against $668.3M in long-term debt as of Q2 2026.
Adamas Trust, Inc. 9.125% Senior Notes Due 2029 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%.
Not reported for Q2 2026.
Margins & Returns
Adamas Trust, Inc. 9.125% Senior Notes Due 2029'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.
Adamas Trust, Inc. 9.125% Senior Notes Due 2029'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.
Adamas Trust, Inc. 9.125% Senior Notes Due 2029's quarterly ROE was 3.8% in Q2 2026: one quarter's net income over shareholder equity, not annualized. 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.
Not reported for Q2 2026.
Capital Allocation
Adamas Trust, Inc. 9.125% Senior Notes Due 2029 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%.
Not reported for Q2 2026.
Not reported for Q2 2026.
ADAMI 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.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | 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% | $56.3Mn/m | $39.5M-7.7% | $4.3Mn/m | $37.7Mn/m | -$31.8M-196.8% | $42.8Mn/m |
| EBITDA | $57.6M+463.8% | $91.3M+109.5% | $61.7Mn/m | $45.4M-10.8% | $10.2Mn/m | $43.6Mn/m | -$24.9M-163.7% | $50.9Mn/m |
| 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 | $13Kn/m | $159K-75.5% | -$44Kn/m | -$298K-112.8% | -$161K-147.1% | $648Kn/m | -$1.5M-1242.9% | $2.3Mn/m |
| Net Income | $55.2M+545.7% | $48.6M+15.3% | $53.5Mn/m | $44.8M+4.6% | $8.5Mn/m | $42.2Mn/m | -$31.4M-174.9% | $42.8Mn/m |
| EPS (Basic) | $0.48n/m | $0.41+24.2% | $0.46 | $0.360.0% | -$0.04n/m | $0.33 | -$0.46 | $0.36n/m |
| EPS (Diluted) | $0.47n/m | $0.40+21.2% | $0.45 | $0.360.0% | -$0.04n/m | $0.33 | -$0.46 | $0.36n/m |
| 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.
ADAMI Balance Sheet
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.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | 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% |
| Goodwill | $22.4M | $22.4M | $22.4Mn/m | $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 | -$1.4Bn/m | -$1.4Bn/m | -$1.4Bn/m | -$1.4Bn/m | -$1.4Bn/m | -$1.4Bn/m | -$1.4Bn/m | -$1.4Bn/m |
Not reported in any period shown, so not listed: Current Assets, Short-Term Investments, Inventory, Accounts Receivable, Long-Term Investments, Current Liabilities, Non-Current Liabilities.
ADAMI Cash Flow 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.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | 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% | $6.9Mn/m | $39.2Mn/m | $25.8Mn/m | $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 | -$300.5Mn/m | -$67.0Mn/m | -$148.1Mn/m | -$1.6Bn/m | -$360.0Mn/m | -$794.2Mn/m | -$584.3Mn/m | -$834.1Mn/m |
| 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% | $5.0Mn/m | $0n/m | $0n/m | $1.5M-57.0% | $0n/m | $0n/m | $0-100.0% |
ADAMI 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.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | 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 |
| Liabilities-to-Equity | 7.80+1.2x | 7.78+1.7x | 7.86+2.3x | 7.91+2.8x | 6.63+1.9x | 6.12+2.1x | 5.60+1.9x | 5.15+1.8x |
| 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. 9.125% Senior Notes Due 2029 Ranks
Frequently Asked Questions
What is Adamas Trust, Inc. 9.125% Senior Notes Due 2029's annual revenue?
Adamas Trust, Inc. 9.125% Senior Notes Due 2029 (ADAMI) 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. 9.125% Senior Notes Due 2029's revenue growing?
Adamas Trust, Inc. 9.125% Senior Notes Due 2029 (ADAMI) revenue grew by 50.0% year-over-year, from $401.3M to $601.9M in fiscal year 2025.
Is Adamas Trust, Inc. 9.125% Senior Notes Due 2029 profitable?
Yes, Adamas Trust, Inc. 9.125% Senior Notes Due 2029 (ADAMI) reported a net income of $149.0M in fiscal year 2025, with a net profit margin of 24.8%.
What is Adamas Trust, Inc. 9.125% Senior Notes Due 2029's EBITDA?
Adamas Trust, Inc. 9.125% Senior Notes Due 2029 (ADAMI) had EBITDA of $160.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Adamas Trust, Inc. 9.125% Senior Notes Due 2029 have?
As of fiscal year 2025, Adamas Trust, Inc. 9.125% Senior Notes Due 2029 (ADAMI) had $210.3M in cash and equivalents against $735.8M in long-term debt.
What is Adamas Trust, Inc. 9.125% Senior Notes Due 2029's operating margin?
Adamas Trust, Inc. 9.125% Senior Notes Due 2029 (ADAMI) 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. 9.125% Senior Notes Due 2029's net profit margin?
Adamas Trust, Inc. 9.125% Senior Notes Due 2029 (ADAMI) 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. 9.125% Senior Notes Due 2029's return on equity (ROE)?
Adamas Trust, Inc. 9.125% Senior Notes Due 2029 (ADAMI) 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. 9.125% Senior Notes Due 2029's free cash flow?
Adamas Trust, Inc. 9.125% Senior Notes Due 2029 (ADAMI) generated $125.9M in free cash flow during fiscal year 2025. The change from the previous fiscal year is not meaningful, because that year’s figure was zero or negative. 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. 9.125% Senior Notes Due 2029's operating cash flow?
Adamas Trust, Inc. 9.125% Senior Notes Due 2029 (ADAMI) generated $134.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Adamas Trust, Inc. 9.125% Senior Notes Due 2029's total assets?
Adamas Trust, Inc. 9.125% Senior Notes Due 2029 (ADAMI) had $12.6B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Adamas Trust, Inc. 9.125% Senior Notes Due 2029's capital expenditures?
Adamas Trust, Inc. 9.125% Senior Notes Due 2029 (ADAMI) invested $8.2M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Adamas Trust, Inc. 9.125% Senior Notes Due 2029's debt-to-equity ratio?
Adamas Trust, Inc. 9.125% Senior Notes Due 2029 (ADAMI) had a debt-to-equity ratio of 0.52 as of fiscal year 2025. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.
What is Adamas Trust, Inc. 9.125% Senior Notes Due 2029's liabilities-to-equity ratio?
Adamas Trust, Inc. 9.125% Senior Notes Due 2029 (ADAMI) had a liabilities-to-equity ratio of 7.86 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity.
What is Adamas Trust, Inc. 9.125% Senior Notes Due 2029's return on assets (ROA)?
Adamas Trust, Inc. 9.125% Senior Notes Due 2029 (ADAMI) 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. 9.125% Senior Notes Due 2029's Piotroski F-Score?
Adamas Trust, Inc. 9.125% Senior Notes Due 2029 (ADAMI) 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. 9.125% Senior Notes Due 2029's earnings high quality?
Adamas Trust, Inc. 9.125% Senior Notes Due 2029 (ADAMI) 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. 9.125% Senior Notes Due 2029 cover its interest payments?
Adamas Trust, Inc. 9.125% Senior Notes Due 2029 (ADAMI) 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. 9.125% Senior Notes Due 2029?
Adamas Trust, Inc. 9.125% Senior Notes Due 2029 (ADAMI) scores 49 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is the average of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), 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. For Adamas Trust, Inc. 9.125% Senior Notes Due 2029 it averages the 4 of 6 dimensions that can be computed; the others are left out rather than counted as zero. 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.