ADAMAS TRUST, INC. ADAM
Last close
9.75
2026-09-04
Market cap
$876.3M
2026-06-30 share count
52-week range
6.45 - 10.36
Valuation FY2025 figures against the last close
P/S1.5x
P/E8.9x
P/FCF7.0x
EV/EBITDA8.7x
Dividend yield8.6%
Diluted EPS1.10
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $601.9M | $401.3M | $258.7M | $258.4M | $206.9M | $350.2M | $694.6M | $455.8M | $366.1M | $319.3M |
| SG&A | $72.7M | $48.7M | $49.6M | $52.4M | $48.9M | $42.2M | $35.8M | $27.9M | $18.4M | $15.2M |
| Total operating expenses | $122.9M | $91.7M | $73.5M | $93.3M | $75.6M | $54.6M | $49.8M | $41.5M | $41.1M | $35.2M |
| Operating income | $137.8M | -$92.9M | -$77.7M | -$340.1M | $190.9M | -$287.3M | $172.5M | $103.7M | $91.9M | — |
| Interest expense | $149.3M | $83.9M | $66.5M | $129.0M | $79.3M | $223.1M | $566.8M | $377.1M | $308.1M | $254.7M |
| Pre-tax income | $149.2M | -$61.0M | -$48.6M | -$298.1M | $195.7M | -$287.5M | $174.2M | $103.7M | $91.9M | $70.7M |
| Income tax | $145.0K | $1.0M | $75.0K | $542.0K | $2.5M | $981.0K | $419.0K | $1.1M | $3.4M | $3.1M |
| Net income | $149.0M | -$62.0M | -$48.7M | -$298.6M | $193.2M | -$288.5M | $173.7M | $102.9M | $92.0M | $67.6M |
| EPS, basic | 1.12 | -1.14 | -0.99 | -3.61 | 1.52 | -0.89 | 0.65 | 0.62 | 0.68 | 0.50 |
| EPS, diluted | 1.10 | -1.14 | -0.99 | -3.61 | 1.51 | -0.89 | 0.64 | 0.61 | 0.66 | 0.50 |
| Shares, diluted (wtd. avg.) | $91.5M | $90.8M | $91.0M | $94.3M | $95.2M | $371.0M | $242.6M | $147.4M | $130.3M | $109.6M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $210.3M | $167.4M | $187.1M | $380.9M | $337.9M | $304.5M | $121.6M | $109.1M | $106.2M | $139.5M |
| Goodwill | $22.4M | $0 | — | — | — | $0 | $25.2M | $25.2M | $25.2M | $25.2M |
| Other intangibles | $17.3M | $252.0K | — | — | — | — | — | — | — | — |
| Total assets | $12.64B | $9.22B | $7.40B | $6.24B | $5.66B | $4.66B | $23.48B | $14.74B | $12.06B | $8.95B |
| Long-term debt | $735.8M | $573.2M | $934.1M | $542.5M | $1.00B | $220.0M | $223.6M | $214.3M | $240.4M | — |
| Total liabilities | $11.21B | $7.81B | $5.77B | $4.38B | $3.23B | $2.35B | $21.28B | $13.56B | $11.08B | $8.10B |
| Retained earnings | -$1.41B | -$1.43B | -$1.25B | -$1.05B | -$559.3M | -$551.3M | -$148.9M | -$103.2M | -$75.7M | -$62.5M |
| Total equity | $1.43B | $1.39B | $1.60B | $1.80B | $2.37B | $2.31B | $2.21B | $1.18B | $976.0M | $851.2M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $134.0M | $14.1M | $30.0M | $91.8M | $138.9M | $110.8M | $35.1M | $24.2M | $29.3M | $53.8M |
| Depreciation and amortisation | $23.1M | $39.8M | $24.6M | $126.8M | $19.2M | $386.0K | $0 | — | — | — |
| Stock-based compensation | $8.2M | $6.1M | $8.8M | $11.9M | $10.2M | $9.9M | $5.4M | $2.6M | $1.6M | $514.0K |
| Capital expenditure | $8.2M | $24.6M | $50.4M | $209.4M | $46.1M | $206.0K | $128.0K | $457.0K | $296.0K | $0 |
| Investing cash flow | -$2.90B | -$2.24B | -$1.22B | -$508.8M | -$132.9M | $2.12B | -$769.1M | -$642.5M | -$439.9M | $68.9M |
| Financing cash flow | $2.78B | $2.23B | $1.14B | $460.1M | $27.4M | -$2.05B | $746.4M | $621.2M | $377.3M | -$65.9M |
| Dividends paid | $75.5M | $74.9M | $128.8M | $151.8M | $151.6M | $105.5M | $163.4M | $97.9M | $93.9M | — |
| Buybacks | $1.5M | $3.5M | $8.6M | $44.4M | $0 | $0 | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001273685-26-000029.
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