(ADAM) New York Mortgage Trust - Overview
Sector: Real Estate | Industry: REIT - Mortgage | Exchange: NASDAQ (USA) | Market Cap: 800m USD | Total Return: 59.3% in 12m
Avg Turnover: 5.97M
Qual. Beats: 0
Rev. Trend: 95.5%
Warnings
No concerns identified
Tailwinds
Idiosyncratic Leader
Adamas Trust, Inc. (formerly New York Mortgage Trust, Inc.) is a real estate investment trust (REIT) focused on the acquisition, financing, and management of residential mortgage assets. The company operates through two primary segments: Investment Portfolio, which manages a diverse array of agency and non-agency mortgage-backed securities and multifamily loans, and Constructive, which focuses on originating and selling business purpose loans for real estate investors.
As a mortgage REIT (mREIT), the company’s business model relies on the spread between the interest income generated by its mortgage assets and the cost of funding those positions. To maintain its status as a REIT and avoid federal corporate income taxes, the firm is legally required to distribute at least 90% of its taxable income to shareholders in the form of dividends.
The company’s portfolio includes complex credit instruments such as mezzanine lending and cross-collateralized investments, which typically offer higher yields but carry greater sensitivity to interest rate fluctuations and credit risk. For a more comprehensive breakdown of these financial metrics, consider reviewing the detailed data on ValueRay. Adamas Trust is headquartered in New York and has been operational since 2003.
- Federal Reserve interest rate pivots impact net interest margin and book value
- Performance of business purpose loans influences constructive segment origination and sales revenue
- Credit spread volatility affects valuations of non-agency residential and multifamily mortgage assets
- Maintaining REIT status requires distributing ninety percent of taxable income as dividends
- Housing market liquidity and home price appreciation drive residential loan portfolio returns
| Net Income: 155.5m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.01 > 0.02 and ΔFCF/TA 0.21 > 1.0 |
| NWC/Revenue: -768.8% < 20% (prev 70.03%; Δ -838.9% < -1%) |
| CFO/TA 0.01 > 3% & CFO 91.5m > Net Income 155.5m |
| Net Debt (10.9b) to EBITDA (225.9m): 48.46 < 3 |
| Current Ratio: 0.03 > 1.5 & < 3 |
| Outstanding Shares: last quarter (92.1m) vs 12m ago 1.06% < -2% |
| Gross Margin: 45.85% > 18% (prev 0.44%; Δ 4.54k% > 0.5%) |
| Asset Turnover: 7.77% > 50% (prev 6.23%; Δ 1.54% > 0%) |
| Interest Coverage Ratio: 0.39 > 6 (EBITDA TTM 225.9m / Interest Expense TTM 479.7m) |
| A: -0.53 (Total Current Assets 208.9m - Total Current Liabilities 7.02b) / Total Assets 12.8b |
| B: -0.11 (Retained Earnings -1.39b / Total Assets 12.8b) |
| C: 0.02 (EBIT TTM 186.8m / Avg Total Assets 11.4b) |
| D: -0.12 (Book Value of Equity -1.39b / Total Liabilities 11.3b) |
| Altman-Z'' = -3.87 = D |
| DSRI: 0.40 (Receivables 77.2m/136.6m, Revenue 885.8m/623.4m) |
| GMI: 0.96 (GM 45.85% / 44.17%) |
| AQI: 1.96 (AQ_t 0.98 / AQ_t-1 0.50) |
| SGI: 1.42 (Revenue 885.8m / 623.4m) |
| TATA: 0.01 (NI 155.5m - CFO 91.5m) / TA 12.8b) |
| Beneish M = -2.68 (Cap -4..+1) = A |
As of May 28, 2026, the stock is trading at USD 9.17 with a total of 474,728 shares traded.
Over the past week, the price has changed by +5.16%,
over one month by +13.77%,
over three months by +14.94% and
over the past year by +59.28%.
New York Mortgage Trust has no consensus analysts rating.
P/E Trailing = 7.6068
P/E Forward = 7.2727
P/S = 2.473
P/B = 0.8731
P/EG = 2.5
Revenue TTM = 885.8m USD
EBIT TTM = 186.8m USD
EBITDA TTM = 225.9m USD
Long Term Debt = 4.13b USD (from longTermDebt, last quarter)
Short Term Debt = 7.02b USD (from shortTermDebt, last quarter)
Debt = 11.2b USD (from shortLongTermDebtTotal, last quarter) + Leases 5.10m
Net Debt = 10.9b USD (calculated: Debt 11.2b - CCE 208.9m)
Enterprise Value = 11.7b USD (799.8m + Debt 11.2b - CCE 208.9m)
Interest Coverage Ratio = 0.39 (Ebit TTM 186.8m / Interest Expense TTM 479.7m)
EV/FCF = 129.7x (Enterprise Value 11.7b / FCF TTM 90.5m)
FCF Yield = 0.77% (FCF TTM 90.5m / Enterprise Value 11.7b)
FCF Margin = 10.22% (FCF TTM 90.5m / Revenue TTM 885.8m)
Net Margin = 17.55% (Net Income TTM 155.5m / Revenue TTM 885.8m)
Gross Margin = 45.85% ((Revenue TTM 885.8m - Cost of Revenue TTM 479.7m) / Revenue TTM)
Gross Margin QoQ = 53.65% (prev 45.89%)
Tobins Q-Ratio = 0.92 (Enterprise Value 11.7b / Total Assets 12.8b)
Interest Expense / Debt = 4.30% (Interest Expense 479.7m / Debt 11.2b)
Taxrate = 0.18% (159k / 86.7m)
NOPAT = 186.5m (EBIT 186.8m * (1 - 0.18%))
Current Ratio = 0.03 (Total Current Assets 208.9m / Total Current Liabilities 7.02b)
Debt / Equity = 7.66 (Debt 11.2b / totalStockholderEquity, last quarter 1.46b)
Debt / EBITDA = 48.46 (Net Debt 10.9b / EBITDA 225.9m)
Debt / FCF = 120.9 (Net Debt 10.9b / FCF TTM 90.5m)
Total Stockholder Equity = 1.41b (last 4 quarters mean from totalStockholderEquity)
RoA = 1.36% (Net Income 155.5m / Total Assets 12.8b)
RoE = 5.54% (Net Income TTM 155.5m / Total Stockholder Equity 2.81b)
RoCE = 2.69% (EBIT 186.8m / Capital Employed (Equity 2.81b + L.T.Debt 4.13b))
RoIC = 1.48% (NOPAT 186.5m / Invested Capital 12.6b)
WACC = 4.61% (E(799.8m)/V(12.0b) * Re(8.99%) + D(11.2b)/V(12.0b) * Rd(4.30%) * (1-Tc(0.00)))
Discount Rate = 8.99% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 20.0 | Cagr: 0.42%
[DCF] Terminal Value 77.97% ; FCFF base≈74.1m ; Y1≈85.0m ; Y5≈125.1m
[DCF] Fair Price = N/A (negative equity: EV 1.88b - Net Debt 10.9b = -9.06b; debt exceeds intrinsic value)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.22 | # QB: 0
Revenue Correlation: 95.50 | Revenue CAGR: 26.83% | SUE: N/A | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.24 | Chg30d=-0.70% | Revisions=N/A | Analysts=4
EPS next Quarter (2026-09-30): EPS=0.25 | Chg30d=+0.57% | Revisions=N/A | Analysts=4
EPS current Year (2026-12-31): EPS=1.06 | Chg30d=+10.27% | Revisions=+33% | GrowthEPS=+18.9% | GrowthRev=+34.8%
EPS next Year (2027-12-31): EPS=1.07 | Chg30d=-2.49% | Revisions=+33% | GrowthEPS=+0.9% | GrowthRev=+8.1%
[Analyst] Revisions Ratio: +33%