Adamas Trust, Inc.

Adamas Trust, Inc.

7.75
EUR
+0.05
(+0.65%)
2.24EPS
5.47P/E
737.01MMarket Cap
Oct 28Next Earn
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
6.15
8.58
4.55
3.83
4.36
4.6
4.01
-2.24
3.17
0.09
3.35
2.63
3.9
5.08
Basic EPS, GAAP
4.43
5.94
2.47
1.99
2.73
2.49
2.62
-3.55
1.59
-3.61
-0.99
-1.14
1.12
1.71
Free Cash Flow per Basic Share
3.61
1.71
1.34
1.97
1.05
0.76
0.63
1.19
1.47
0.97
0.33
0.05
1.48
1.75
Dividend per Share
4.29
4.21
4.52
4.31
3.82
3.82
3.4
1.58
2.06
2.05
1.87
1.29
1.35
1.43
Book Value per Share
25.48
28.38
26.37
24.72
24.38
22.87
23.35
19.02
19.01
13.48
11.52
9.49
9.82
10.37
Tangible Book Value per Share
25.48
28.38
26.37
23.81
23.48
22.22
23
19.02
18.59
13.48
11.49
9.25
9.15
9.73
Basic Weighted Avg Shares
15
22
27
27
28
32
55
93
95
94
91
91
90
90
Sales/Revenue/Turnover
91
188
123
105
122
146
222
-207
301
9
305
239
353
459
Operating Margin (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Depreciation Expense
13
-3
1
8
- -
-29
-56
15
51
153
52
60
40
40
Net Income, GAAP
69
136
78
68
92
103
174
-289
193
-299
-49
-62
149
202
Effective Tax Rate (%)
1.06
4.49
5.49
4.38
3.65
- -
- -
- -
1.29
- -
- -
- -
0.11
- -
Profit Margin (%)
75.88
72.3
63.22
64.31
75.52
70.25
78.32
139.06
64.21
-3,435.8
-15.98
-25.96
42.24
44.05
Working Capital
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
LT Debt
8,379
8,471
7,097
6,922
9,572
11,325
17,996
1,841
2,521
2,648
2,805
3,555
4,255
4,254
Total Equity
481
818
881
851
976
1,180
2,205
2,308
2,432
1,864
1,628
1,411
1,430
1,472
Return on Invested Capital (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Capital (%)
0.93
1.5
0.9
0.86
1.04
- -
- -
- -
4.35
- -
- -
- -
3.01
- -
Return on Common Equity (%)
17.91
22.6
9.14
7.75
11.13
10.08
11.18
-18.85
8.35
-22.47
-7.96
-10.9
11.58
17.43

Capital Structure

USD

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
- -
- -
- -
LT Borrowings
4,249
4,130
4,249
LT Finance Leases
6
5
5
Preferred Equity and Hybrid Capital
540
540
540
Shares Outstanding
90
90
90
Market Capitalization
647
660
842

Working Capital

USD

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
- -
- -
- -
Cash, Cash Equivalents & STI
7,115
1,678
7,196
Accounts Receivable, Net
76
77
82
Inventories
- -
- -
- -
Total Current Liabilities
- -
- -
- -
Payables & Accruals
142
125
128
ST Debt
- -
- -
- -
Deferred Revenue
- -
- -
- -

Growth Rates

USD

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
8.12%
-8.52%
1.37%
Free Cash Flow
289.86%
530.55%
2,813.28%
Net Income, GAAP
-98.06%
-163.61%
-340.29%
Sales/Revenue/Turnover
296.78%
617.71%
47.71%
Total Cash Common Dividend
0.29%
-2.83%
-1.23%

Quarterly Revenue

USD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
57
53
94
38
239
2025
90
52
102
108
353
2026
143
105
- -
- -
- -

Quarterly Earnings Per Share

USD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-0.75
-0.29
0.36
-0.46
-1.14
2025
0.33
-0.04
0.36
0.46
1.12
2026
0.41
0.48
- -
- -
- -

Quarterly Dividends Per Share

USD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.34
0.32
0.32
0.32
1.29
2025
0.32
0.33
0.33
0.36
1.35
2026
0.37
0.36
- -
- -
- -

Company Description

CEO
Jason Thomas Serrano
Full Time Employees
221
Sector
Finance
Industry
Real estate investment trusts
Address
90 Park Avenue New York NY United States 10016
IPO Date
Jun 24, 2004
Business
Adamas Trust, Inc. (Nasdaq: ADAM) is an internally managed real estate investment trust that acquires, invests in, finances, and manages mortgage-related single-family and multi-family residential assets in the United States. The company targets a diversified portfolio including business purpose loans; agency residential mortgage-backed securities (RMBS); non-agency RMBS; structured multi-family property investments such as preferred equity and mezzanine loans to owners of multi-family properties; other mortgage-, residential housing-, and credit-related assets and strategic investments; commercial mortgage-backed securities (CMBS); and single-family rental properties. Adamas Trust, Inc., formerly New York Mortgage Trust, Inc., was founded in 2003 and is headquartered at 90 Park Avenue, 23rd Floor, New York, New York. In recent developments, the company completed a corporate rebrand to Adamas Trust, Inc. effective September 3, 2025, with its common stock transitioning to the ADAM ticker symbol; acquired the remaining 50% ownership interest in Constructive Loans, LLC, a leading business purpose loan origination platform, in July 2025 to enhance mortgage banking income; purchased approximately $1.8 billion in agency investments and $525.7 million in residential loans during the third quarter of 2025; issued $115 million in 9.875% senior unsecured notes; and executed securitizations generating about $619.2 million in net proceeds, expanding its investment portfolio above $10 billion.

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