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Side-by-side financial comparison of American Assets Trust, Inc. (AAT) and ADAMAS TRUST, INC. (ADAM). Click either name above to swap in a different company.
ADAMAS TRUST, INC. is the larger business by last-quarter revenue ($43.2M vs $9.6M, roughly 4.5× American Assets Trust, Inc.). On growth, ADAMAS TRUST, INC. posted the faster year-over-year revenue change (61.6% vs -5.5%). Over the past eight quarters, ADAMAS TRUST, INC.'s revenue compounded faster (55.5% CAGR vs -5.2%).
Personal Assets Trust is a large British investment trust. The company is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. The chairman is Iain Ferguson CBE.
AAT vs ADAM — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $9.6M | $43.2M |
| Net Profit | — | $53.5M |
| Gross Margin | — | — |
| Operating Margin | — | — |
| Net Margin | — | 124.0% |
| Revenue YoY | -5.5% | 61.6% |
| Net Profit YoY | — | 270.5% |
| EPS (diluted) | $0.06 | $0.45 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $9.6M | $43.2M | ||
| Q3 25 | $10.1M | $36.6M | ||
| Q2 25 | $10.2M | $36.4M | ||
| Q1 25 | $9.9M | $33.1M | ||
| Q4 24 | $10.2M | $26.7M | ||
| Q3 24 | $11.4M | $20.2M | ||
| Q2 24 | $10.6M | $19.0M | ||
| Q1 24 | $10.7M | $17.9M |
| Q4 25 | — | $53.5M | ||
| Q3 25 | $4.5M | $44.8M | ||
| Q2 25 | $5.5M | $8.5M | ||
| Q1 25 | $42.5M | $42.2M | ||
| Q4 24 | — | $-31.4M | ||
| Q3 24 | $16.7M | $42.8M | ||
| Q2 24 | $11.9M | $-15.6M | ||
| Q1 24 | $19.3M | $-57.9M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 11.7% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | -119.0% | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -124.7% | ||
| Q1 24 | — | -448.8% |
| Q4 25 | — | 124.0% | ||
| Q3 25 | 44.6% | 122.5% | ||
| Q2 25 | 53.2% | 23.4% | ||
| Q1 25 | 429.3% | 127.4% | ||
| Q4 24 | — | -117.5% | ||
| Q3 24 | 145.5% | 211.7% | ||
| Q2 24 | 111.9% | -81.9% | ||
| Q1 24 | 179.4% | -324.1% |
| Q4 25 | $0.06 | $0.45 | ||
| Q3 25 | $0.07 | $0.36 | ||
| Q2 25 | $0.09 | $-0.04 | ||
| Q1 25 | $0.70 | $0.33 | ||
| Q4 24 | $0.14 | $-0.46 | ||
| Q3 24 | $0.28 | $0.36 | ||
| Q2 24 | $0.20 | $-0.29 | ||
| Q1 24 | $0.32 | $-0.75 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $129.4M | $210.3M |
| Total DebtLower is stronger | $1.7B | $735.8M |
| Stockholders' EquityBook value | $1.2B | $1.4B |
| Total Assets | $2.9B | $12.6B |
| Debt / EquityLower = less leverage | 1.48× | 0.52× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $129.4M | $210.3M | ||
| Q3 25 | $138.7M | $185.3M | ||
| Q2 25 | $143.7M | $160.4M | ||
| Q1 25 | $143.9M | $177.1M | ||
| Q4 24 | $425.7M | $167.4M | ||
| Q3 24 | $533.0M | $195.1M | ||
| Q2 24 | $114.9M | $235.5M | ||
| Q1 24 | $98.6M | $226.9M |
| Q4 25 | $1.7B | $735.8M | ||
| Q3 25 | — | $766.6M | ||
| Q2 25 | — | $653.0M | ||
| Q1 25 | — | $654.4M | ||
| Q4 24 | $2.0B | $573.2M | ||
| Q3 24 | — | $699.4M | ||
| Q2 24 | — | $800.7M | ||
| Q1 24 | — | $1.0B |
| Q4 25 | $1.2B | $1.4B | ||
| Q3 25 | $1.2B | $1.4B | ||
| Q2 25 | $1.2B | $1.4B | ||
| Q1 25 | $1.2B | $1.4B | ||
| Q4 24 | $1.2B | $1.4B | ||
| Q3 24 | $1.2B | $1.4B | ||
| Q2 24 | $1.2B | $1.4B | ||
| Q1 24 | $1.2B | $1.5B |
| Q4 25 | $2.9B | $12.6B | ||
| Q3 25 | $2.9B | $12.4B | ||
| Q2 25 | $3.0B | $10.6B | ||
| Q1 25 | $3.0B | $10.0B | ||
| Q4 24 | $3.3B | $9.2B | ||
| Q3 24 | $3.4B | $8.9B | ||
| Q2 24 | $3.0B | $8.2B | ||
| Q1 24 | $3.0B | $7.4B |
| Q4 25 | 1.48× | 0.52× | ||
| Q3 25 | — | 0.55× | ||
| Q2 25 | — | 0.47× | ||
| Q1 25 | — | 0.47× | ||
| Q4 24 | 1.72× | 0.41× | ||
| Q3 24 | — | 0.48× | ||
| Q2 24 | — | 0.56× | ||
| Q1 24 | — | 0.67× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $40.6M | $62.1M |
| Free Cash FlowOCF − Capex | $23.0M | — |
| FCF MarginFCF / Revenue | 238.4% | — |
| Capex IntensityCapex / Revenue | 182.1% | — |
| Cash ConversionOCF / Net Profit | — | 1.16× |
| TTM Free Cash FlowTrailing 4 quarters | $94.9M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $40.6M | $62.1M | ||
| Q3 25 | $40.5M | $6.9M | ||
| Q2 25 | $49.2M | $39.2M | ||
| Q1 25 | $36.9M | $25.8M | ||
| Q4 24 | $40.6M | $29.1M | ||
| Q3 24 | $52.4M | $-922.0K | ||
| Q2 24 | $59.3M | $-993.0K | ||
| Q1 24 | $54.8M | $-13.1M |
| Q4 25 | $23.0M | — | ||
| Q3 25 | $23.1M | — | ||
| Q2 25 | $28.4M | — | ||
| Q1 25 | $20.4M | — | ||
| Q4 24 | $21.5M | $25.7M | ||
| Q3 24 | $28.0M | $-8.6M | ||
| Q2 24 | $43.6M | $-8.6M | ||
| Q1 24 | $43.8M | $-19.1M |
| Q4 25 | 238.4% | — | ||
| Q3 25 | 228.3% | — | ||
| Q2 25 | 276.7% | — | ||
| Q1 25 | 206.1% | — | ||
| Q4 24 | 210.4% | 96.1% | ||
| Q3 24 | 244.4% | -42.3% | ||
| Q2 24 | 409.9% | -44.9% | ||
| Q1 24 | 408.5% | -107.0% |
| Q4 25 | 182.1% | — | ||
| Q3 25 | 172.4% | — | ||
| Q2 25 | 203.1% | — | ||
| Q1 25 | 166.0% | — | ||
| Q4 24 | 187.6% | 12.9% | ||
| Q3 24 | 213.5% | 37.7% | ||
| Q2 24 | 147.4% | 39.7% | ||
| Q1 24 | 101.9% | 33.5% |
| Q4 25 | — | 1.16× | ||
| Q3 25 | 8.98× | 0.15× | ||
| Q2 25 | 9.01× | 4.59× | ||
| Q1 25 | 0.87× | 0.61× | ||
| Q4 24 | — | — | ||
| Q3 24 | 3.15× | -0.02× | ||
| Q2 24 | 4.98× | — | ||
| Q1 24 | 2.84× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AAT
Segment breakdown not available.
ADAM
| Other | $19.6M | 45% |
| Constructive Loans LLC | $14.4M | 33% |
| Multifamily | $9.1M | 21% |
