The company has reduced its share count over this period, returning value to shareholders through buybacks.
Diluted shares outstanding: 95.2M (2021) → 91.5M (2025)
Adamas Trust, Inc. acquires, invests in, finances, and manages mortgage-related single-family and multifamily residential assets in the United States. The company operates through two segments: Investment Portfolio and Constructive. The Investment Portfolio segment manages a diversified portfolio primarily consisting of mortgage-related single-family and multifamily residential investments, including agency residential mortgage-backed securities (RMBS), non-agency RMBS, residential loans, such as business purpose loans, performing, re-performing, non-performing, and seasoned performing, multifamily loans, preferred equity investments, joint venture equity investments, multifamily investments, mezzanine lending, cross-collateralized mezzanine lending, and single-family rental. The Constructive segment is a business purpose loan lender specializing in rental and transitional loans for real estate investors; and origination and sale of loans. The company provides structured multi-family property investments; other mortgage-, residential housing- and credit-related assets and strategic investments; and commercial mortgage-backed securities (CMBS). 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.
When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.
+46.2% YoY
YoY Growth Rate
Strong revenue growth
>+1,000% YoY
YoY Growth Rate
EPS growth accelerating
$0/ year
0.0% of revenue
Below sector average (1%)
Research and development spending
Cash flow positive
$12.6B cash & investments
Quarterly Free Cash Flow
↑ Burn rate improving
Company generates more cash than it spends — no dilution risk from fundraising
Adamas Trust is growing revenue at 46% year-over-year. The Winston Score penalises unprofitable companies, but revenue at this pace tells a different story — this is a company still in "build mode."
The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.
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ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.
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Earnings growing 25%+ a year. The compounder zone.
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FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.
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Interest coverage below 1. Their profits don't cover the interest bill.
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P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.
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Yield above 6% — often a flag the market is pricing in a cut.
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