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Adamas Trust, Inc. (ADAM) 10-Year Financial Performance & Capital Metrics

ADAM • • REIT / Real Estate
Real EstateMortgage REITsHybrid Mortgage REITsMulti-Asset Mortgage Investors
AboutAdamas Trust, Inc. acquires, invests in, finances, and manages mortgage-related single-family and multi-family residential assets in the United States. The company's targeted residential loans, including business purpose loans; agency RMBS; non-agency residential mortgage-backed securities (RMBS); structured multi-family property investments, such as preferred equity in, and mezzanine loans to owners of multi-family properties; and other mortgage-, residential housing- and credit-related assets and strategic investments; and commercial mortgage-backed securities (CMBS). It also owns and manages single-family rental properties. The company qualifies as a real estate investment trust for federal income tax purposes. It generally would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. Adamas Trust, Inc. was formerly known as New York Mortgage Trust, Inc. and changed its name to Adamas Trust, Inc. in September 2025. Adamas Trust, Inc. was incorporated in 2003 and is headquartered in New York, New York.Show more
  • Revenue $559M +11.6%
  • FFO -$2M -157.5%
  • FFO/Share -0.02 -157.7%
  • FFO Payout -3769.87% -201.1%
  • FFO per Share -0.02 -157.7%
  • NOI Margin 42.63% -30.8%
  • FFO Margin -0.36% -151.6%
  • ROE -4.08% -46.5%
  • ROA -0.75% -4.6%
  • Debt/Assets 38.57% +1.8%
  • Net Debt/EBITDA -
  • Book Value/Share 15.54 -13.1%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Trading near 52-week high
  • ✓Trading at only 0.5x book value

✗Weaknesses

  • ✗High debt to equity ratio of 2.5x
  • ✗Weak Piotroski F-Score: 3/9

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-
5Y-
3Y13.71%
TTM-

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM-

EPS CAGR

10Y-
5Y-
3Y-
TTM-

ROCE

10Y Avg-1.09%
5Y Avg-1.09%
3Y Avg-2.66%
Latest-1.12%

Peer Comparison

Multi-Asset Mortgage Investors
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Size & Scale
Valuation
Per Share
Growth
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Quality & Returns
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TTM Growth
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Momentum & Returns
Total Return (DRIP)
Technical
Volume & Trading
Shares & Dilution
Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
RWTNRedwood Trust, Inc. 9.125% Seni3.36B25.3479.1952.9%-0.62%-0.29%14.10
MITNAG Mortgage Investment Trust, Inc. 9.500% Senior Notes due 2029754.34M25.4520.695.49%18.45%8.87%7.4%11.65
EFC-PCEllington Financial Inc.2.49B25.4218.97-13.66%46.15%8.39%
RWTRedwood Trust, Inc.734.76M5.8018.1352.9%-41.59%-8.86%13.80
EFC-PDEllington Financial Inc.2.37B24.1817.6512.07%49.64%8.39%
STWDStarwood Property Trust, Inc.6.8B18.3516.38-0.53%19.99%4.84%9.1%1.25
NLYAnnaly Capital Management, Inc.16.28B23.8314.71189.21%31.62%9.97%15.04%1.69
IVRInvesco Mortgage Capital Inc.659.79M9.3014.3117.98%36.99%6.93%27.76%6.70

Profit & Loss

Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Revenue+147.98M380.19M138.11M500.8M558.92M
Revenue Growth %-1.57%-0.64%2.63%0.12%
Property Operating Expenses12.34M79.28M129.42M192.13M320.63M
Net Operating Income (NOI)+-----
NOI Margin %-----
Operating Expenses+0109.97M348.8M386.39M331.2M
G&A Expenses045.44M47.67M44.82M42.78M
EBITDA+-66.75M242.32M-187.15M-25.6M-32.88M
EBITDA Margin %-----
Depreciation & Amortization+051.39M152.96M52.12M60.04M
D&A / Revenue %-----
Operating Income+-66.75M190.93M-340.11M-77.72M-92.92M
Operating Margin %-----
Interest Expense+079.28M129.42M192.13M317.43M
Interest Coverage-2.41x-2.63x-0.40x-0.29x
Non-Operating Income00000
Pretax Income+-287.26M190.93M-340.11M-77.72M-92.92M
Pretax Margin %-----
Income Tax+981K2.46M542K75K1.04M
Effective Tax Rate %-----
Net Income+-288.51M193.2M-298.61M-48.66M-62.03M
Net Margin %-----
Net Income Growth %-1.67%-2.55%0.84%-0.27%
Funds From Operations (FFO)+-----
FFO Margin %-----
FFO Growth %---1.6%1.02%-1.58%
FFO per Share+-----
FFO Payout Ratio %-----
EPS (Diluted)+-3.551.52-3.60-0.99-1.14
EPS Growth %-1.43%-3.37%0.72%-0.15%
EPS (Basic)-3.551.52-3.60-0.99-1.14
Diluted Shares Outstanding92.75M95.24M94.32M91.04M90.81M

Balance Sheet

Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Assets+4.66B5.66B6.24B7.4B9.22B
Asset Growth %-0.22%0.1%0.19%0.25%
Real Estate & Other Assets+-21.38M-489.25M-287.14M-2.17B-3.97B
PP&E (Net)10.1M9.01M7.83M6.58M5.46M
Investment Securities01000K1000K1000K1000K
Total Current Assets+00000
Cash & Equivalents304.49M289.6M244.72M187.11M167.42M
Receivables01000K1000K1000K1000K
Other Current Assets-304.49M-574.42M-419.05M-2.28B-4.16B
Intangible Assets039.77M02.38M21M
Total Liabilities2.35B3.23B4.38B5.77B7.81B
Total Debt+2.22B2.52B2.65B2.81B3.56B
Net Debt1.92B2.23B2.4B2.62B3.39B
Long-Term Debt1.8B2.51B2.64B2.8B3.55B
Short-Term Borrowings1000K0000
Capital Lease Obligations09.58M8.38M7.1M5.93M
Total Current Liabilities+00000
Accounts Payable09.05M10.63M23.65M41.02M
Deferred Revenue00000
Other Liabilities-1.81B-2.54B-2.66B-2.81B-3.57B
Total Equity+2.31B2.43B1.86B1.63B1.41B
Equity Growth %-0.05%-0.23%-0.13%-0.13%
Shareholders Equity2.3B2.34B1.77B1.58B1.39B
Minority Interest6.37M90.75M96.89M48.51M16.41M
Common Stock3.78M3.79M912K907K906K
Additional Paid-in Capital2.34B2.36B2.28B2.3B2.29B
Retained Earnings-551.27M-559.34M-1.05B-1.25B-1.43B
Preferred Stock504.76M538.22M538.35M535.45M535.45M
Return on Assets (ROA)-0.06%0.04%-0.05%-0.01%-0.01%
Return on Equity (ROE)-0.13%0.08%-0.14%-0.03%-0.04%
Debt / Assets0.48%0.45%0.42%0.38%0.39%
Debt / Equity0.96x1.04x1.42x1.72x2.52x
Net Debt / EBITDA-9.21x---
Book Value per Share24.8825.5319.7617.8815.54

Cash Flow

Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+111.08M138.91M91.78M29.95M14.07M
Operating CF Growth %-0.25%-0.34%-0.67%-0.53%
Operating CF / Revenue %-----
Net Income-288.51M188.48M-340.65M-77.8M-93.95M
Depreciation & Amortization051.39M152.96M52.12M60.04M
Stock-Based Compensation010.24M11.89M8.82M6.07M
Other Non-Cash Items390.34M-107.49M282.36M63.55M56.95M
Working Capital Changes9.26M-3.7M-14.79M-16.75M-15.04M
Cash from Investing+2.12B-132.95M-508.77M-1.22B-2.24B
Acquisitions (Net)027.91M6.9M102K0
Purchase of Investments-667.14M-460.02M-230.53M-2.09B-2.22B
Sale of Investments1000K1000K1000K1000K1000K
Other Investing-70.92M-478.75M-486.24M646.1M-453.03M
Cash from Financing+-2.05B27.41M460.07M1.14B2.23B
Dividends Paid-146.56M-194.85M-193.16M-170.69M-116.7M
Common Dividends-146.56M-151.62M-151.75M-128.8M-74.94M
Debt Issuance (Net)-1000K1000K1000K-1000K1000K
Share Repurchases00-44.4M-8.62M-3.49M
Other Financing0146.77M166.2M1.72B1.52B
Net Change in Cash+182.88M33.37M43.08M-50.3M-1.62M
Exchange Rate Effect00000
Cash at Beginning121.61M304.49M337.86M380.94M330.64M
Cash at End304.49M337.86M380.94M330.64M329.02M
Free Cash Flow+110.88M138.91M91.78M29.95M4.6M
FCF Growth %-0.25%-0.34%-0.67%-0.85%
FCF / Revenue %-----

Key Ratios

Metric20202021202220232024
FFO per Share-3.112.57-1.540.04-0.02
FFO Payout Ratio-50.8%61.99%-104.19%3727.96%-3769.87%
NOI Margin91.66%79.15%6.29%61.63%42.63%
Net Debt / EBITDA-9.21x---
Debt / Assets47.69%44.55%42.43%37.9%38.57%
Interest Coverage-2.41x-2.63x-0.40x-0.29x
Book Value / Share24.8825.5319.7617.8815.54
Revenue Growth-156.93%-63.67%262.61%11.6%

Frequently Asked Questions

Growth & Financials

Adamas Trust, Inc. (ADAM) reported $655.4M in revenue for fiscal year 2024. This represents a 343% increase from $148.0M in 2020.

Adamas Trust, Inc. (ADAM) grew revenue by 11.6% over the past year. This is steady growth.

Yes, Adamas Trust, Inc. (ADAM) is profitable, generating $62.2M in net income for fiscal year 2024 (-11.1% net margin).

Dividend & Returns

Yes, Adamas Trust, Inc. (ADAM) pays a dividend with a yield of 9.77%. This makes it attractive for income-focused investors.

Adamas Trust, Inc. (ADAM) has a return on equity (ROE) of -4.1%. Negative ROE indicates the company is unprofitable.

Industry Metrics

Adamas Trust, Inc. (ADAM) generated Funds From Operations (FFO) of $109.2M in the trailing twelve months. FFO is the primary profitability metric for REITs.

Adamas Trust, Inc. (ADAM) offers a 9.77% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.

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