NASDAQ · Real estate

Adamas Trust, Inc. (ADAM)

Operating cash flow minus capital spending left $125.9M of free cash flow in fiscal 2025. At June 30, 2026 it held $212.3M in cash against $668.3M of debt. Its latest periodic report to the SEC is the quarterly report (10-Q) filed on July 31, 2026.

Watch ADAM in 60 seconds

Price

$8.01

-1.60% on the day · September 28, 2026

52-week range $6.45 to $10.36

Market cap

$719.9M

P/E

7.3

on FY2025 diluted EPS

What Adamas Trust, Inc. does

Adamas Trust, Inc. is registered with the SEC under industry code SIC 6798 (Real Estate Investment Trusts). Its shares trade on NASDAQ under the ticker ADAM.

Revenue and profit by year

Net income

Fiscal years as reported in annual reports. Amounts in USD.

Key figures

Fiscal year	Revenue	Operating income	Net income	Diluted EPS	Free cash flow
2025	n/a	$137.8M	$149M	$1.10	$125.9M
2024	n/a	-$92.9M	-$62M	-$1.14	-$10.6M
2023	n/a	-$77.7M	-$48.7M	-$0.99	-$20.5M
2022	n/a	-$340.1M	-$298.6M	-$3.61	-$117.6M
2021	n/a	$190.9M	$193.2M	$1.51	$92.9M
2020	n/a	-$287.3M	-$288.5M	-$3.54	$110.5M

Full financial statements: income, balance sheet and cash flow

Next report expected around October 28, 2026.

Estimated from its filing rhythm: 52 weeks after its report of October 29, 2025. Not a date the company has announced. See the report calendar

Dividends

It paid out $75.5M in cash dividends, 51% of its net income.

Fiscal year	Per share	Paid out	Of profit
2025	n/a	$75.5M	51%
2024	n/a	$74.9M	n/a
2023	n/a	$128.8M	n/a
2022	n/a	$151.8M	n/a
2021	n/a	$151.6M	78%
2020	n/a	$105.5M	n/a

Per share as declared (or paid, where only that is reported), adjusted for stock splits the company itself restated. Yield is the latest fiscal year's dividend over the current price.

Latest SEC filings

What Adamas Trust, Inc. has filed recently, newest first. Each links to the original document on SEC EDGAR.

September 10, 2026
Other event 8-K
August 25, 2026
Activist stake changed SCHEDULE 13D/A
August 14, 2026
Other event 8-K
August 12, 2026
Securities offering prospectus 424B5
August 12, 2026
Other event 8-K
August 11, 2026
Offering term sheet FWP
August 11, 2026
Securities offering prospectus 424B5
August 11, 2026
Investor disclosure 8-K
July 31, 2026
Quarterly report 10-Q · period to June 30, 2026Diluted EPS $0.47 versus -$0.04.
July 29, 2026
Quarterly results 8-K

Recent insider filings (Forms 3, 4 and 144): 10, the latest on June 23, 2026. Insider transactions on SEC

Insider trades

What the people running Adamas Trust, Inc. did with its shares, from the Form 4 filings they must send the SEC within two business days.

No insider trades were reported in the last 90 days.

Bought (open market)

last 90 days

Sold

last 90 days

Date	Insider	What	Shares	Price	Value	Filing
June 10, 2026	Clement Michael B.Director	Exercised options	18,678	-	-	Form 4
January 27, 2026	Mah NicholasPresident	Shares withheld for tax	2,237	$8.41	$18.8K	Form 4
January 27, 2026	Nario-Eng Kristine RimandoChief Financial Officer	Shares withheld for tax	751	$8.41	$6.3K	Form 4
January 27, 2026	Serrano Jason TChief Executive Officer, Director	Shares withheld for tax	5,827	$8.41	$49K	Form 4
January 1, 2026	Nario-Eng Kristine RimandoChief Financial Officer	Exercised options	9,765	-	-	Form 4
January 1, 2026	Nario-Eng Kristine RimandoChief Financial Officer	Shares withheld for tax	5,769	$7.30	$42.1K	Form 4
January 1, 2026	Nario-Eng Kristine RimandoChief Financial Officer	Exercised options	12,309	-	-	Form 4
January 1, 2026	Nario-Eng Kristine RimandoChief Financial Officer	Shares withheld for tax	7,311	$7.30	$53.4K	Form 4
January 1, 2026	Nario-Eng Kristine RimandoChief Financial Officer	Exercised options	24,123	-	-	Form 4
January 1, 2026	Nario-Eng Kristine RimandoChief Financial Officer	Shares withheld for tax	13,342	$7.30	$97.4K	Form 4
January 1, 2026	Serrano Jason TChief Executive Officer, Director	Exercised options	34,179	-	-	Form 4
January 1, 2026	Serrano Jason TChief Executive Officer, Director	Shares withheld for tax	19,140	$7.30	$139.7K	Form 4
January 1, 2026	Serrano Jason TChief Executive Officer, Director	Exercised options	41,032	-	-	Form 4
January 1, 2026	Serrano Jason TChief Executive Officer, Director	Shares withheld for tax	21,455	$7.30	$156.6K	Form 4
January 1, 2026	Serrano Jason TChief Executive Officer, Director	Exercised options	84,737	-	-	Form 4

All insider filings on SEC.gov · Where insiders are buying across the market

Who owns ADAM

Three views from three kinds of SEC filings, each with its own date. They overlap and are not added up.

5% holders

Anyone who owns more than 5% of a class of shares must say so on Schedule 13D (if they may seek to influence the company) or 13G (a passive holder). The latest filing of each holder is shown: 13G filings of the last 2 years, 13D of the last 3.

No holder of 5% or more has filed about this company in that window.

Latest filings below 5%: Amster Howard 4.9% (August 25, 2026); The Vanguard Group 0% (March 26, 2026).

Largest institutional holders

Positions that investment managers reported on Form 13F for the quarter ended June 30, 2026, largest first, with the change on the quarter ended March 31, 2026. Managers file 13F up to 45 days after a quarter ends. 206 managers reported a position.

Holder	Shares	Value	Change on quarter
BlackRock, Inc.	13,631,398	$127.9M	+358,817
Vanguard Capital Management LLC	3,646,199	$34.2M	-141,246
State Street Corp	3,458,825	$33.4M	+113,489
Invesco Ltd.	3,162,727	$29.7M	-7,318
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.	2,610,594	$24.5M	+46,694
Geode Capital Management, LLC	2,277,233	$21.4M	+37,533
Allspring Global Investments Holdings, LLC	2,164,125	$20.1M	-703,489
Vanguard Portfolio Management LLC	1,738,555	$16.3M	+89,311
Charles Schwab Investment Management Inc	1,460,835	$13.7M	-172,169
Northern Trust Corp	1,149,187	$10.8M	+157,054
Van Eck Associates Corp	880,853	$8.3M	-71,384
Morgan Stanley	737,475	$6.9M	-51,210
Wolverine Asset Management LLC	588,672	$5.5M	+275,714
Vanguard Fiduciary Trust Co	544,381	$5.1M	-7,185
Bank of New York Mellon Corp	496,514	$4.7M	+3,222
Nuveen, LLC	478,562	$4.5M	+281,616
Jpmorgan Chase & Co	407,144	$3.8M	-21,683
Principal Financial Group Inc	403,936	$3.8M	-4,339
Goldman Sachs Group Inc	385,169	$3.6M	-113,913
Bank of America Corp	369,017	$3.5M	-47,047

Insiders

Reported holdings of insiders who filed a Form 4 in the last 12 months: the shares each one held after their latest reported transaction. This is not the total held by all insiders.

4 insiders reported holding 899,025 shares in total, about $7.2M at the last price.

Holder	Shares	As of
Serrano Jason TChief Executive Officer, Director	389,714	January 27, 2026
Mah NicholasPresident	251,456	January 27, 2026
Nario-Eng Kristine RimandoChief Financial Officer	156,546	January 27, 2026
Clement Michael B.Director	101,309	June 10, 2026

Schedule 13D/13G filings on SEC.gov

All filings on SEC EDGAR

Questions about ADAM

What does Adamas Trust, Inc. do?

Adamas Trust, Inc. is registered with the SEC under industry code SIC 6798 (Real Estate Investment Trusts). Its shares trade on NASDAQ under the ticker ADAM.

Is Adamas Trust, Inc. profitable?

Yes. Over the twelve months to June 30, 2026 it reported net income of $202.1M.

When did Adamas Trust, Inc. last report?

Its most recent periodic report is the quarterly report (10-Q) filed on July 31, 2026. It covers the period to June 30, 2026. Its newest filing of any kind is the other event from September 10, 2026.

Similar companies

Blackstone Real Estate Income Trust, Inc.

Weyerhaeuser Co

Compare ADAM with

Compare ADAM with any company

Follow ADAM

Get an email when Adamas Trust, Inc. files with the SEC: results, executive changes, material agreements and annual reports.

Follow ADAM: get an email when it files

Where the numbers come from

Financial figures are the values Adamas Trust, Inc. tagged in its own SEC filings (XBRL), taken from the latest filing for each period, so restatements replace older figures. Revenue, profit and cash flow are for full fiscal years unless marked as the last twelve months, which is the sum of the four most recent quarters. Where a company reports only the full year, the fourth quarter is the year minus the first three.

Prices are delayed end-of-day market data in the listing currency, and market cap moves with the price. P/E is shown only when earnings per share are positive. Nothing here is investment advice.