A Business at a Glance
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Certain Defined Terms In this Annual Report on Form 10-K we refer to Adamas Trust, Inc., together with its consolidated subsidiaries, as “Adamas,” “we,” “us,” “Company,” or “our,” unless we specifically state otherwise or the context indicates otherwise, and we refer to our wholly-owned taxable real estate investment trust (“REIT”) subsidiaries as “TRSs” and our wholly-owned qualified REIT subsidiaries as “QRSs.” In addition, the following defines certain of the commonly used terms in this report: •“ABS” refers to debt and/or equity tranches of securitizations backed by various asset classes including, but not limited to, automobiles, aircraft, credit cards, equipment, franchises, recreational vehicles and student loans; •“Agency ARMs” refers to Agency RMBS comprised of adjustable-rate and hybrid adjustable-rate RMBS; •“Agency fixed-rate RMBS” refers to Agency RMBS comprised of fixed-rate RMBS; •“Agency investments” refers to Agency RMBS and TBAs; •“Agency RMBS” refers to RMBS represen
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 166M | 166M | 113M | 71M | - | 133M |
| Net Income | 101M | 101M | -104M | -90M | -341M | 144M |
| EPS | $1.10 | $1.10 | $-1.14 | $-0.99 | $-3.61 | $0.38 |
| Free Cash Flow | 126M | 126M | -11M | -20M | -118M | 93M |
| ROIC | 0.0% | - | -5.3% | -3.6% | -14.7% | - |
| Gross Margin | - | - | - | - | - | - |
| Debt/Equity | 0.25 | 0.25 | 0.41 | 0.59 | 0.31 | 0.49 |
| Dividends/Share | $0.82 | $0.23 | $0.20 | $1.42 | $1.61 | $0.40 |
| Operating Income | 0 | - | -93M | -78M | -340M | - |
| Operating Margin | 0.0% | - | -82.2% | -109.1% | - | - |
| ROE | 7.1% | 7.2% | -7.4% | -5.7% | -19.3% | 6.2% |
| Shares Outstanding | 92M | 92M | 91M | 91M | 94M | 379M |
ADAMAS TRUST, INC. passes 3 of 9 quality checks, indicating weak fundamentals.
ADAMAS TRUST, INC. trades at 20.8x trailing earnings, compared to its 15-year median P/E of 20.0x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 16.7x vs a median of 47.6x. Total shareholder yield (dividends) is 3.7%. At current prices, the estimated annualized return to fair value is +32.1%.
ADAMAS TRUST, INC. (ADAMN) has a current P/E ratio of 20.8, compared to its historical median P/E of 20.0. The stock is currently considered Fair based on its historical valuation range.
ADAMAS TRUST, INC. (ADAMN) has a 5-year average return on invested capital (ROIC) of -7.9%. This is below average and may indicate limited pricing power.
ADAMAS TRUST, INC. (ADAMN) has a market capitalization of $2.1B. It is classified as a mid-cap stock.
Yes, ADAMAS TRUST, INC. (ADAMN) pays a dividend with a trailing twelve-month yield of 3.59%. The company also returns capital through share buybacks, with a buyback yield of 0.07%.
Based on historical P/E analysis, ADAMAS TRUST, INC. (ADAMN) appears fair. The current P/E of 20.8 is 4% above its historical median of 20.0. The estimated fair value CAGR (P/E method) is 0.5%.
ADAMAS TRUST, INC. (ADAMN) operates in the Real Estate Investment Trusts industry, within the Real Estate sector.
ADAMAS TRUST, INC. (ADAMN) reported annual revenue of $166 million in its most recent fiscal year, based on SEC EDGAR filings.
ADAMAS TRUST, INC. (ADAMN) has a net profit margin of 61.0%. This is a strong margin indicating high profitability.
ADAMAS TRUST, INC. (ADAMN) generated $126 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
ADAMAS TRUST, INC. (ADAMN) has a debt-to-equity ratio of 0.25. This indicates a conservatively financed balance sheet.
ADAMAS TRUST, INC. (ADAMN) reported earnings per share (EPS) of $1.10 in its most recent fiscal year.
ADAMAS TRUST, INC. (ADAMN) has a return on equity (ROE) of 7.2%. This indicates moderate shareholder returns.
The Ledger Terminal provides 16 years of financial data for ADAMAS TRUST, INC. (ADAMN), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
ADAMAS TRUST, INC. (ADAMN) has a book value per share of $15.52, based on its most recent annual SEC filing.