ADAM Stock Analysis: New York Mortgage Trust | NASDAQ
REIT - Mortgage | NASDAQ, USA | Market Cap: 673m USD | 12M Return: 21.8% | US6496048405 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 10.3M
Qual. Beats: 0
Rev. Trend: 97.5%
Warnings
Tailwinds
Seasonality 11.7 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Adamas Trust, Inc. (NASDAQ: ADAM) is a mortgage-focused real estate investment trust (REIT) that acquires, invests in, finances, and manages single-family and multifamily residential assets across the United States. The company operates through two segments: Investment Portfolio, which holds a diversified mix of mortgage-related investments such as agency and non-agency RMBS, residential loans, multifamily loans, preferred equity, and joint venture positions; and Constructive, which originates and services business purpose rental and transitional loans for real estate investors.
As a REIT, Adamas Trust benefits from a pass-through tax structure, generally avoiding federal corporate income tax provided it distributes at least 90% of its taxable income to shareholders. The company was incorporated in 2003, completed its IPO in 2004, and is headquartered in New York, New York. It was formerly known as New York Mortgage Trust, Inc. before rebranding to Adamas Trust, Inc. in September 2025.
Operating within the Mortgage REITs sub-industry, the company sits alongside peers that generate income primarily from the spread between interest earned on mortgage-related assets and the cost of funding those holdings, often using leverage to enhance returns.
- Net interest margin compresses as Fed cuts rates
- Constructive segment loan
| Net Income: 202.1m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.01 > 0.02 and ΔFCF/TA 0.36 > 1.0 |
| NWC/Revenue: 13.43% < 20% (prev -556.8%; Δ 570.2% < -1%) |
| CFO/TA 0.01 > 3% & CFO 158.2m > Net Income 202.1m |
| Net Debt (11.1b) to EBITDA (396.5m): 28.02 < 3 |
| Current Ratio: 1.02 > 1.5 & < 3 |
| Outstanding Shares: last quarter (92.3m) vs 12m ago 2.24% < -2% |
| Gross Margin: 57.32% > 18% (prev 37.40%; Δ 19.92% > 0.5%) |
| Asset Turnover: 8.14% > 50% (prev 5.76%; Δ 2.37% > 0%) |
| Interest Coverage Ratio: 0.72 > 6 (EBIT TTM 362.7m / Interest Expense TTM 502.3m) |
| A: 0.01 (Total Current Assets 7.20b - Total Current Liabilities 7.07b) / Total Assets 13.0b |
| B: -0.11 (Retained Earnings -1.37b / Total Assets 13.0b) |
| C: 0.03 (EBIT TTM 362.7m / Avg Total Assets 11.8b) |
| D: 0.13 (Book Value of Equity 1.47b / Total Liabilities 11.5b) |
| Altman-Z'' = 0.06 = B |
| DSRI: 3.0 (Receivables 4.83b/148.1m, Revenue 956.7m/608.2m) |
| GMI: 0.65 (GM 37.40% / 57.32%) |
| AQI: 0.52 (AQ_t 0.44 / AQ_t-1 0.85) |
| SGI: 1.57 (Revenue 956.7m / 608.2m) |
| TATA: 0.00 (NI 202.1m - CFO 158.2m) / TA 13.0b) |
| Beneish M = -1.57 (Cap -4..+1) = CCC |
As of October 15, 2026, the stock is trading at USD 7.50 with a total of 896,880 shares traded. Over the past week, the price has changed by +0.13%, over one month by -13.96%, over three months by -15.18% and over the past year by +21.83%.
Current recommended Stop Loss: 7.10 (which is 5.3% or 1.7 ATR below the current price).
New York Mortgage Trust has received a consensus analysts rating of 3.43. Therefore, it is recommended to hold ADAM.
- StrongBuy: 1
- Buy: 1
- Hold: 5
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 12.1 | 61.7% |
P/E Trailing = 4.5951
P/E Forward = 6.9204
P/S = 1.7638
P/B = 0.8496
P/EG = 2.5
Revenue TTM = 956.7m USD
EBIT TTM = 362.7m USD
EBITDA TTM = 396.5m USD
Long Term Debt = 4.25b USD (from longTermDebt, last quarter)
Short Term Debt = 7.07b USD (from shortTermDebt, last quarter)
Debt = 11.3b USD (from shortLongTermDebtTotal, last quarter) + Leases 4.64m
Net Debt = 11.1b USD (calculated: Debt 11.3b - CCE 212.3m)
Enterprise Value = 11.8b USD (673.2m + Debt 11.3b - CCE 212.3m)
Interest Coverage Ratio = 0.72 (Ebit TTM 362.7m / Interest Expense TTM 502.3m)
EV/FCF = 75.35x (Enterprise Value 11.8b / FCF TTM 156.4m)
FCF Yield = 1.33% (FCF TTM 156.4m / Enterprise Value 11.8b)
FCF Margin = 16.34% (FCF TTM 156.4m / Revenue TTM 956.7m)
Net Margin = 21.13% (Net Income TTM 202.1m / Revenue TTM 956.7m)
Gross Margin = 57.32% ((Revenue TTM 956.7m - Cost of Revenue TTM 408.3m) / Revenue TTM)
Gross Margin QoQ = 85.46% (prev 53.65%)
Tobins Q-Ratio = 0.91 (Enterprise Value 11.8b / Total Assets 13.0b)
Interest Expense / Debt = 4.44% (Interest Expense 502.3m / Debt 11.3b)
Taxrate = 0.02% (13.0k / 53.1m)
NOPAT = 362.6m (EBIT 362.7m * (1 - 0.02%))
Current Ratio = 1.02 (Total Current Assets 7.20b / Total Current Liabilities 7.07b)
Debt / Equity = 7.70 (Debt 11.3b / totalStockholderEquity, last quarter 1.47b)
Debt / EBITDA = 28.02 (Net Debt 11.1b / EBITDA 396.5m)
Debt / FCF = 71.04 (Net Debt 11.1b / FCF TTM 156.4m)
Total Stockholder Equity = 1.44b (last 4 quarters mean from totalStockholderEquity)
RoA = 1.72% (Net Income 202.1m / Total Assets 13.0b)
RoE = 14.08% (Net Income TTM 202.1m / Total Stockholder Equity 1.44b)
RoCE = 6.38% (EBIT 362.7m / Capital Employed (Equity 1.44b + L.T.Debt 4.25b))
RoIC = 2.81% (NOPAT 362.6m / Invested Capital 12.9b)
WACC = 4.71% (E(673.2m)/V(12.0b) * Re(9.27%) + D(11.3b)/V(12.0b) * Rd(4.44%) * (1-Tc(0.00)))
Discount Rate = 9.27% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 73.32 | Cagr: 0.60%
[DCF] Terminal Value 77.97% ; FCFF base≈129.7m ; Y1≈148.7m ; Y5≈218.9m
[DCF] Fair Price = N/A (negative equity: EV 3.29b - Net Debt 11.1b = -7.82b; debt exceeds intrinsic value)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.16 | # QB: 0
Revenue Correlation: 97.55 | Revenue CAGR: 41.30% | SUE: N/A | # QB: 0
EPS current Quarter (2026-09-30): EPS=0.29 | Chg30d=-0.58% | Revisions=+62% | Analysts=6
EPS current Year (2026-12-31): EPS=1.23 | Chg30d=-0.28% | Revisions=+62% | GrowthEPS=+37.9% | GrowthRev=+37.6%
EPS next Year (2027-12-31): EPS=1.24 | Chg30d=-0.67% | Revisions=+57% | GrowthEPS=+1.0% | GrowthRev=+10.4%
[Analyst] Revisions Ratio: +82% (up=14, down=0)