ADAM Stock Analysis: New York Mortgage Trust | NASDAQ
REIT - Mortgage | NASDAQ, USA | Market Cap: 893m USD | 12M Return: 54.8% | US6496048405 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 8.62M
Qual. Beats: 0
Rev. Trend: 97.5%
Warnings
No concerns identified
Tailwinds
Seasonality 11.6 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), formerly New York Mortgage Trust, Inc., is a mortgage real estate investment trust (REIT) that acquires, finances, and manages mortgage-related single-family and multifamily residential assets in the United States. The company operates through two segments: Investment Portfolio, which holds a diversified mix of agency and non-agency residential mortgage-backed securities (RMBS), residential loans (including performing, re-performing, non-performing, and business purpose loans), multifamily loans, preferred and joint venture equity investments, and mezzanine lending; and Constructive, which originates and sells business purpose rental and transitional loans to real estate investors.
As a REIT, the company is generally not subject to federal corporate income tax provided it distributes at least 90% of its taxable income to shareholders. Mortgage REITs like Adamas Trust differ from equity REITs in that they typically generate income from interest on mortgage assets and lending spreads rather than rental income from owned properties, making their performance highly sensitive to interest rates, credit spreads, and prepayment trends. The company was incorporated in 2003, is headquartered in New York, and rebranded from New York Mortgage Trust to Adamas Trust in September 2025.
- Net interest margin compresses as Fed cuts rates
- Constructive segment loan originations expand on rental housing demand
- Book value per share decline pressures dividend sustainability
| 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 August 27, 2026, the stock is trading at USD 9.77 with a total of 481,796 shares traded. Over the past week, the price has changed by -4.03%, over one month by +12.17%, over three months by +10.34% and over the past year by +54.81%.
Current recommended Stop Loss: 9.20 (which is 5.8% or 2.4 ATR below the current price).
New York Mortgage Trust has no consensus analysts rating.
P/E Trailing = 5.9167
P/E Forward = 7.2727
P/S = 2.3408
P/B = 0.9576
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 = 12.0b USD (893.4m + Debt 11.3b - CCE 212.3m)
Interest Coverage Ratio = 0.72 (Ebit TTM 362.7m / Interest Expense TTM 502.3m)
EV/FCF = 76.76x (Enterprise Value 12.0b / FCF TTM 156.4m)
FCF Yield = 1.30% (FCF TTM 156.4m / Enterprise Value 12.0b)
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 = 0.93 (Enterprise Value 12.0b / 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 = 4.79% (E(893.4m)/V(12.2b) * Re(9.26%) + D(11.3b)/V(12.2b) * Rd(4.44%) * (1-Tc(0.00)))
Discount Rate = 9.26% (= 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=+13.67% | Revisions=+40% | Analysts=6
EPS current Year (2026-12-31): EPS=1.23 | Chg30d=+13.19% | Revisions=+40% | GrowthEPS=+38.2% | GrowthRev=+38.3%
EPS next Year (2027-12-31): EPS=1.25 | Chg30d=+10.94% | Revisions=+40% | GrowthEPS=+1.5% | GrowthRev=+11.2%
[Analyst] Revisions Ratio: +67% (up=6, down=0)