Adamas Trust, Inc. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share (ADAML) Financials

ADAML

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

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 ADAML SEC filings page.

Adamas Trust, Inc. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share (ADAML) 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 ADAML FY2025 2026-09-05

2025 earnings recovery arrived through a balance-sheet expansion model, not a lightweight revenue-scaled operating structure.

The 2025 rebound is unusually cash-consistent: net income reached $149M, while operating cash flow was $134M and free cash flow was $126M. That narrow spread indicates reported profitability was largely converted into cash rather than being absorbed by working-capital or reinvestment demands.

Asset intensity dominates the economics: total assets reached $12.6B against $602M of revenue, while return on assets was only 1.2%. Even with a 24.8% net margin, the large asset base keeps overall asset productivity modest.

Expansion relied heavily on external funding: 2025 investing cash outflow was $2.9B while financing cash inflow was $2.8B. At the same time, liabilities rose to $11.2B while equity was $1.4B>, and debt-to-equity increased to 0.5x, showing that balance-sheet growth was not funded primarily by internally generated cash.

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. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share'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. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share 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. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share scores 91/100 on it among other REITs.

Leverage

Adamas Trust, Inc. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share'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. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share scores 74/100 among other REITs.

Interest Cov.

Adamas Trust, Inc. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share'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. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share 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. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share 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. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share scores 80/100 on it among other REITs.

Piotroski F-Score Partial

6/7

Adamas Trust, Inc. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share 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. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share 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. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share 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. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share 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. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share'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. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share 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. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share 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. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share 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. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share 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. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share 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. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share'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. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share'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. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share'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. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share 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.

ADAML 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.

ADAML 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.

ADAML Balance Sheet

ADAML 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.

ADAML Cash Flow Statement

ADAML 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%

ADAML 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.

ADAML 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. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share Ranks

Frequently Asked Questions

What is Adamas Trust, Inc. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share's annual revenue?

Adamas Trust, Inc. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share (ADAML) 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. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share's revenue growing?

Adamas Trust, Inc. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share (ADAML) revenue grew by 50.0% year-over-year, from $401.3M to $601.9M in fiscal year 2025.

Is Adamas Trust, Inc. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share profitable?

Yes, Adamas Trust, Inc. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share (ADAML) reported a net income of $149.0M in fiscal year 2025, with a net profit margin of 24.8%.

What is Adamas Trust, Inc. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share's earnings per share (EPS)?

Adamas Trust, Inc. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share (ADAML) 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.

What is Adamas Trust, Inc. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share's EBITDA?

Adamas Trust, Inc. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share (ADAML) had EBITDA of $160.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Adamas Trust, Inc. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share have?

As of fiscal year 2025, Adamas Trust, Inc. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share (ADAML) had $210.3M in cash and equivalents against $735.8M in long-term debt.

What is Adamas Trust, Inc. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share's operating margin?

Adamas Trust, Inc. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share (ADAML) 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. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share's net profit margin?

Adamas Trust, Inc. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share (ADAML) 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. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share's return on equity (ROE)?

Adamas Trust, Inc. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share (ADAML) 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. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share's free cash flow?

Adamas Trust, Inc. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share (ADAML) 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. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share's operating cash flow?

Adamas Trust, Inc. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share (ADAML) generated $134.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Adamas Trust, Inc. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share's total assets?

Adamas Trust, Inc. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share (ADAML) had $12.6B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Adamas Trust, Inc. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share's capital expenditures?

Adamas Trust, Inc. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share (ADAML) invested $8.2M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Does Adamas Trust, Inc. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share buy back shares?

Yes, Adamas Trust, Inc. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share (ADAML) 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. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share have outstanding?

Adamas Trust, Inc. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share (ADAML) had 90M shares outstanding as of fiscal year 2025.

What is Adamas Trust, Inc. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share's debt-to-equity ratio?

Adamas Trust, Inc. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share (ADAML) 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. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share's return on assets (ROA)?

Adamas Trust, Inc. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share (ADAML) 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. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share's Piotroski F-Score?

Adamas Trust, Inc. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share (ADAML) 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. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share's earnings high quality?

Adamas Trust, Inc. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share (ADAML) 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. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share cover its interest payments?

Adamas Trust, Inc. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share (ADAML) 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. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share?

Adamas Trust, Inc. 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share (ADAML) 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.