NASDAQ : ADAM
Adamas Trust, Inc. — Financial statements
Real Estate · REIT - Mortgage · United States
Last price 6.54 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 590.59M
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Interest and Dividend Income | 698.37M | 601.95M | 401.28M | 258.66M | 258.39M | 206.87M |
| Total Interest Expense | 536.69M | 488.40M | 389.99M | 282.36M | 185.43M | 83.25M |
| Net Interest Income | 161.68M | 113.55M | 11.29M | -23.70M | 72.96M | 123.62M |
| Mortgage Banking | 54.91M | 26.62M | ||||
| Gain (Loss) on Sale of Investments | -548.94M | 151.97M | -113.77M | 70.14M | -320.74M | 117.10M |
| Other Revenue | 504.82M | 22.90M | 245.55M | 163.18M | 179.38M | 51.09M |
| Revenue Before Loan Losses | 172.48M | 315.03M | 143.07M | 209.62M | -68.40M | 291.81M |
| Revenue | 172.48M | 315.03M | 143.07M | 209.62M | -68.40M | 291.81M |
| Salaries & Employee Benefits | 8.60M | 8.60M | 8.90M | 10.40M | 13.00M | 11.50M |
| Cost of Services Provided | 168.37M | 144.21M | 145.89M | 151.35M | 152.73M | 73.67M |
| Total Operating Expenses | 195.94M | 175.94M | 194.61M | 186.37M | 292.55M | 104.42M |
| Operating Income | -23.47M | 139.10M | -51.53M | 23.25M | -360.95M | 187.38M |
| EBT Excluding Unusual Items | -22.39M | 139.53M | -54.38M | 24.02M | -360.95M | 187.38M |
| Other Unusual Items | -884.00K | -884.00K | -2.86M | -796.00K | 6.16M | 3.71M |
| Pretax Income | 33.96M | 137.80M | -92.92M | -77.72M | -340.11M | 190.93M |
| Income Tax Expense | 106.00K | 145.00K | 1.04M | 75.00K | 542.00K | 2.46M |
| Earnings From Continuing Ops. | 33.85M | 137.66M | -93.95M | -77.80M | -340.65M | 188.48M |
| Minority Interest in Earnings | -35.68M | 11.39M | 31.92M | 29.13M | 42.04M | 4.72M |
| Net Income | -1.83M | 149.05M | -62.03M | -48.66M | -298.61M | 193.20M |
| Preferred Dividends & Other Adjustments | 47.23M | 47.94M | 41.76M | 41.37M | 41.97M | 49.02M |
| Net Income to Common | -49.06M | 101.11M | -103.78M | -90.03M | -340.58M | 144.18M |
| Shares Outstanding (Basic) | 90.25M | 90.43M | 90.81M | 91.04M | 94.32M | 94.81M |
| Shares Outstanding (Diluted) | 90.25M | 91.51M | 90.81M | 91.04M | 94.32M | 95.24M |
| EPS (Basic) | -0.54 | 1.12 | -1.14 | -0.99 | -3.61 | 1.52 |
| EPS (Diluted) | -0.55 | 1.10 | -1.14 | -0.99 | -3.61 | 1.51 |
| Dividend Per Share | 1.03 | 0.86 | 0.80 | 1.20 | 1.60 | 1.60 |
| Operating Margin | -13.61% | 44.15% | -36.02% | 11.09% | 64.21% | |
| Profit Margin | -28.44% | 32.09% | -72.54% | -42.95% | 49.41% | |
| Effective Tax Rate | 0.31% | 0.10% | 1.29% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 262.36M | 210.33M | 167.42M | 187.11M | 244.72M | 289.60M |
| Long-Term Investments | 7.36B | 6.93B | 3.94B | 2.16B | 279.31M | 440.48M |
| Trading Asset Securities | 9.70M | 722.00K | 56.00K | 6.51M | 2.47M | |
| Loans & Lease Receivables | 4.83B | 4.41B | 3.93B | 3.18B | 3.61B | 3.70B |
| Other Receivables | 159.62M | 151.20M | 64.86M | 60.80M | 69.83M | |
| Property, Plant & Equipment | 439.59M | 473.89M | 621.97M | 1.14B | 700.80M | 1.03B |
| Goodwill | 22.40M | 22.40M | ||||
| Other Intangible Assets | 38.21M | 21.25M | 2.38M | 39.77M | ||
| Restricted Cash | 128.60M | 132.04M | 161.60M | 143.53M | 136.22M | 48.26M |
| Other Current Assets | 16.66M | 136.00M | 444.35M | 1.17B | 14.14M | |
| Long-Term Deferred Tax Assets | 14.44M | 10.86M | 4.51M | 2.67M | 6.28M | |
| Other Long-Term Assets | 323.67M | 146.68M | 76.94M | 68.65M | 35.38M | 27.73M |
| Total Assets | 13.52B | 12.64B | 9.22B | 7.40B | 6.24B | 5.66B |
| Accrued Expenses | 92.20M | 62.78M | 56.97M | 36.72M | 45.04M | |
| Short-Term Debt | 14.00M | |||||
| Current Portion of Leases | 2.14M | |||||
| Long-Term Debt | 12.01B | 11.00B | 7.56B | 5.27B | 3.38B | 3.07B |
| Long-Term Leases | 3.41M | 5.93M | 7.10M | 8.38M | 9.58M | |
| Long-Term Unearned Revenue | 7.32M | 5.82M | 5.47M | 7.13M | 13.02M | |
| Other Current Liabilities | 59.73M | 135.48M | 418.18M | 933.81M | 48.33M | |
| Long-Term Deferred Tax Liabilities | 12.76M | 9.28M | 2.01M | 394.00K | 6.68M | |
| Other Long-Term Liabilities | 230.59M | 28.07M | 25.38M | 14.32M | 13.37M | 38.43M |
| Total Liabilities | 12.25B | 11.21B | 7.81B | 5.77B | 4.38B | 3.23B |
| Common Stock | 903.00K | 903.00K | 906.00K | 907.00K | 912.00K | 3.79M |
| Additional Paid-In Capital | 2.31B | 2.29B | 2.29B | 2.30B | 2.28B | 2.36B |
| Retained Earnings | -1.57B | -1.41B | -1.43B | -1.25B | -1.05B | -559.34M |
| Comprehensive Income & Other | -4.00K | -1.97M | 1.78M | |||
| Total Common Equity | 735.68M | 886.45M | 859.27M | 1.04B | 1.23B | 1.80B |
| Minority Interest | -3.17M | 3.52M | 16.41M | 48.51M | 96.89M | 90.75M |
| Shareholders' Equity | 1.27B | 1.43B | 1.41B | 1.63B | 1.86B | 2.43B |
| Total Liabilities & Equity | 13.52B | 12.64B | 9.22B | 7.40B | 6.24B | 5.66B |
| Total Debt | 12.02B | 11.01B | 7.57B | 5.28B | 3.39B | 3.08B |
| Net Cash (Debt) | -11.75B | -10.80B | -7.40B | -5.08B | -3.14B | -2.79B |
| Net Cash Per Share | -130.18 | -117.99 | -81.48 | -55.83 | -33.27 | -29.25 |
| Filing Date Shares Outstanding | 90.30M | 90.47M | 90.57M | 91.23M | 91.41M | 95.32M |
| Total Common Shares Outstanding | 90.30M | 90.30M | 90.57M | 90.68M | 91.19M | 94.85M |
| Working Capital | 5.36B | 4.86B | 4.35B | 3.55B | 4.25B | 4.02B |
| Book Value Per Share | 8.15 | 9.82 | 9.49 | 11.52 | 13.48 | 19.01 |
| Tangible Book Value | 713.28M | 846.74M | 859.02M | 1.04B | 1.23B | 1.76B |
| Tangible Book Value Per Share | 7.90 | 9.38 | 9.48 | 11.49 | 13.48 | 18.59 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 149.05M | -62.03M | -48.66M | -298.61M | 193.20M | |
| Depreciation & Amortization | 39.70M | 60.04M | 52.12M | 152.96M | 51.39M | |
| Gain on Sale of Loans & Receivables | -14.44M | |||||
| Loss (Gain) From Sale of Investments | -58.59M | 19.27M | -43.76M | 293.53M | -117.10M | |
| Asset Writedown & Restructuring Costs | 9.77M | 48.88M | 89.55M | 2.45M | ||
| Provision for Credit Losses | -64.76M | 3.43M | ||||
| Loss (Gain) on Equity Investments | 20.02M | -2.57M | -2.70M | 19.67M | 7.87M | |
| Stock-Based Compensation | 8.20M | 6.07M | 8.82M | 11.89M | 10.24M | |
| Net Decrease (Increase) in Loans Originated / Sold - Operating | 12.72M | |||||
| Change in Other Net Operating Assets | 12.24M | -15.04M | -16.75M | -14.79M | -3.70M | |
| Other Operating Activities | 18.29M | -30.75M | -29.13M | -44.26M | -3.14M | |
| Operating Cash Flow | 134.04M | 14.07M | 29.95M | 91.78M | 138.91M | |
| Cash Acquisitions | -16.73M | 102.00K | -170.67M | -233.25M | ||
| Divestitures | -3.96M | |||||
| Investment in Securities | -2.88B | -1.88B | -1.86B | 146.26M | 579.05M | |
| Net Decrease (Increase) in Loans Originated / Sold - Investing | -134.72M | -573.66M | 474.61M | -377.43M | -440.70M | |
| Other Investing Activities | -58.30M | 78.95M | -3.29M | 1.78M | -98.00K | |
| Investing Cash Flow | -2.90B | -2.24B | -1.22B | -508.77M | -132.95M | |
| Long-Term Debt Issued | 3.75B | 2.95B | 1.73B | 1.15B | 678.85M | |
| Total Debt Issued | 3.75B | 2.95B | 1.73B | 1.15B | 678.85M | |
| Long-Term Debt Repaid | -847.57M | -584.44M | -400.07M | -441.76M | -483.81M | |
| Total Debt Repaid | -847.57M | -584.44M | -400.07M | -441.76M | -483.81M | |
| Net Debt Issued (Repaid) | 2.90B | 2.36B | 1.33B | 710.46M | 195.05M | |
| Issuance of Preferred Stock | 5.03M | 210.74M | ||||
| Preferred Share Repurchases | -2.44M | -183.45M | ||||
| Repurchase of Common Stock | -1.50M | -3.49M | -8.62M | -44.40M | ||
| Common Dividends Paid | -75.51M | -74.94M | -128.80M | -151.75M | -151.62M | |
| Preferred Dividends Paid | -46.46M | -41.76M | -41.89M | -41.40M | -43.23M | |
| Total Dividends Paid | -121.97M | -116.70M | -170.69M | -193.16M | -194.85M | |
| Other Financing Activities | -3.06M | -12.52M | -8.86M | -12.83M | -81.00K | |
| Financing Cash Flow | 2.78B | 2.23B | 1.14B | 460.07M | 27.41M | |
| Net Cash Flow | 13.35M | -1.62M | -50.30M | 43.08M | 33.37M | |
| Cash Interest Paid | 448.29M | 344.73M | 249.85M | 161.25M | 71.91M | |
| Cash Income Tax Paid | 218.00K | -32.00K | 225.00K | 2.67M | 296.00K |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 590.59M | 659.25M | 548.91M | 773.53M | 949.92M | 1.41B |
| PE Ratio | 6.52 | 9.79 | ||||
| PS Ratio | 3.42 | 2.09 | 3.84 | 3.69 | -13.89 | 4.83 |
| PB Ratio | 0.80 | 0.46 | 0.39 | 0.47 | 0.51 | 0.58 |
| P/OCF Ratio | 3.73 | 4.92 | 39.01 | 25.82 | 10.35 | 10.16 |
| Debt / Equity Ratio | 9.44 | 7.70 | 5.36 | 3.24 | 1.82 | 1.26 |
| Net Debt / Equity Ratio | 9.23 | 7.55 | 5.24 | 3.12 | 1.68 | 1.15 |
| Quick Ratio | 364.13 | 31.05 | 21.42 | 7.24 | 4.04 | 43.43 |
| Current Ratio | 384.10 | 32.54 | 22.92 | 8.47 | 5.38 | 44.10 |
| Asset Turnover | 0.01 | 0.03 | 0.02 | 0.03 | 0.06 | |
| Return on Equity (ROE) | 2.53% | 9.69% | -6.18% | -4.46% | -15.86% | 7.95% |
| Return on Assets (ROA) | 0.26% | 1.26% | -1.13% | -1.14% | -5.73% | 3.65% |
| Return on Invested Capital (ROIC) | -0.18% | 1.30% | -0.65% | 0.38% | -6.71% | 3.67% |
| Earnings Yield | -8.44% | 22.61% | -11.30% | -6.29% | -31.44% | 13.69% |
| Dividend Yield | 18.35% | 11.78% | 13.20% | 14.07% | 15.36% | 10.76% |
| Payout Ratio | 81.83% | 100.85% | ||||
| Buyback Yield / Dilution | 1.00% | -0.77% | 0.25% | 3.48% | 0.97% | -2.69% |
| Total Shareholder Return | 19.34% | 11.02% | 13.45% | 17.54% | 16.33% | 8.07% |