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Side-by-side financial comparison of ADAMAS TRUST, INC. (ADAM) and AEMETIS, INC (AMTX). Click either name above to swap in a different company.
AEMETIS, INC is the larger business by last-quarter revenue ($43.3M vs $43.2M, roughly 1.0× ADAMAS TRUST, INC.). On growth, ADAMAS TRUST, INC. posted the faster year-over-year revenue change (61.6% vs -7.9%). ADAMAS TRUST, INC. produced more free cash flow last quarter ($125.9M vs $-10.8M). Over the past eight quarters, ADAMAS TRUST, INC.'s revenue compounded faster (55.5% CAGR vs -22.8%).
Aemetis, Inc. is a renewable fuels and sustainable biochemicals producer operating across North America and India. Its core products include low-carbon ethanol, renewable natural gas and biodiesel, serving transportation, industrial and agricultural sectors with decarbonization solutions for commercial clients.
ADAM vs AMTX — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $43.2M | $43.3M |
| Net Profit | $53.5M | — |
| Gross Margin | — | 17.8% |
| Operating Margin | — | -5.7% |
| Net Margin | 124.0% | — |
| Revenue YoY | 61.6% | -7.9% |
| Net Profit YoY | 270.5% | — |
| EPS (diluted) | $0.45 | $-0.03 |
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 | $43.2M | $43.3M | ||
| Q3 25 | $36.6M | $59.2M | ||
| Q2 25 | $36.4M | $52.2M | ||
| Q1 25 | $33.1M | $42.9M | ||
| Q4 24 | $26.7M | $47.0M | ||
| Q3 24 | $20.2M | $81.4M | ||
| Q2 24 | $19.0M | $66.6M | ||
| Q1 24 | $17.9M | $72.6M |
| Q4 25 | $53.5M | — | ||
| Q3 25 | $44.8M | $-23.7M | ||
| Q2 25 | $8.5M | $-23.4M | ||
| Q1 25 | $42.2M | $-24.5M | ||
| Q4 24 | $-31.4M | — | ||
| Q3 24 | $42.8M | $-17.9M | ||
| Q2 24 | $-15.6M | $-29.2M | ||
| Q1 24 | $-57.9M | $-24.2M |
| Q4 25 | — | 17.8% | ||
| Q3 25 | — | -0.1% | ||
| Q2 25 | — | -6.4% | ||
| Q1 25 | — | -11.8% | ||
| Q4 24 | — | -4.3% | ||
| Q3 24 | — | 4.8% | ||
| Q2 24 | — | -2.7% | ||
| Q1 24 | — | -0.8% |
| Q4 25 | — | -5.7% | ||
| Q3 25 | — | -14.4% | ||
| Q2 25 | 11.7% | -20.4% | ||
| Q1 25 | — | -36.3% | ||
| Q4 24 | -119.0% | -28.7% | ||
| Q3 24 | — | -4.8% | ||
| Q2 24 | -124.7% | -20.4% | ||
| Q1 24 | -448.8% | -13.0% |
| Q4 25 | 124.0% | — | ||
| Q3 25 | 122.5% | -40.1% | ||
| Q2 25 | 23.4% | -44.8% | ||
| Q1 25 | 127.4% | -57.2% | ||
| Q4 24 | -117.5% | — | ||
| Q3 24 | 211.7% | -22.0% | ||
| Q2 24 | -81.9% | -43.8% | ||
| Q1 24 | -324.1% | -33.4% |
| Q4 25 | $0.45 | $-0.03 | ||
| Q3 25 | $0.36 | $-0.37 | ||
| Q2 25 | $-0.04 | $-0.41 | ||
| Q1 25 | $0.33 | $-0.47 | ||
| Q4 24 | $-0.46 | $-0.29 | ||
| Q3 24 | $0.36 | $-0.38 | ||
| Q2 24 | $-0.29 | $-0.66 | ||
| Q1 24 | $-0.75 | $-0.58 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $210.3M | $4.9M |
| Total DebtLower is stronger | $735.8M | — |
| Stockholders' EquityBook value | $1.4B | $-306.8M |
| Total Assets | $12.6B | $259.8M |
| Debt / EquityLower = less leverage | 0.52× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $210.3M | $4.9M | ||
| Q3 25 | $185.3M | $5.6M | ||
| Q2 25 | $160.4M | $1.6M | ||
| Q1 25 | $177.1M | $499.0K | ||
| Q4 24 | $167.4M | $898.0K | ||
| Q3 24 | $195.1M | $296.0K | ||
| Q2 24 | $235.5M | $234.0K | ||
| Q1 24 | $226.9M | $1.6M |
| Q4 25 | $735.8M | — | ||
| Q3 25 | $766.6M | — | ||
| Q2 25 | $653.0M | — | ||
| Q1 25 | $654.4M | — | ||
| Q4 24 | $573.2M | $338.1M | ||
| Q3 24 | $699.4M | $322.2M | ||
| Q2 24 | $800.7M | $309.0M | ||
| Q1 24 | $1.0B | $307.2M |
| Q4 25 | $1.4B | $-306.8M | ||
| Q3 25 | $1.4B | $-304.9M | ||
| Q2 25 | $1.4B | $-289.3M | ||
| Q1 25 | $1.4B | $-280.7M | ||
| Q4 24 | $1.4B | $-263.9M | ||
| Q3 24 | $1.4B | $-258.9M | ||
| Q2 24 | $1.4B | $-249.0M | ||
| Q1 24 | $1.5B | $-232.1M |
| Q4 25 | $12.6B | $259.8M | ||
| Q3 25 | $12.4B | $241.1M | ||
| Q2 25 | $10.6B | $240.0M | ||
| Q1 25 | $10.0B | $242.5M | ||
| Q4 24 | $9.2B | $259.3M | ||
| Q3 24 | $8.9B | $259.3M | ||
| Q2 24 | $8.2B | $259.3M | ||
| Q1 24 | $7.4B | $259.3M |
| Q4 25 | 0.52× | — | ||
| Q3 25 | 0.55× | — | ||
| Q2 25 | 0.47× | — | ||
| Q1 25 | 0.47× | — | ||
| Q4 24 | 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 | $134.0M | $5.8M |
| Free Cash FlowOCF − Capex | $125.9M | $-10.8M |
| FCF MarginFCF / Revenue | 291.6% | -24.9% |
| Capex IntensityCapex / Revenue | 18.9% | 38.2% |
| Cash ConversionOCF / Net Profit | 2.50× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-22.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $134.0M | $5.8M | ||
| Q3 25 | $6.9M | $3.1M | ||
| Q2 25 | $39.2M | $-5.7M | ||
| Q1 25 | $25.8M | $160.0K | ||
| Q4 24 | $14.1M | $-12.6M | ||
| Q3 24 | $-922.0K | $-5.0M | ||
| Q2 24 | $-993.0K | $-5.1M | ||
| Q1 24 | $-13.1M | $-10.3M |
| Q4 25 | $125.9M | $-10.8M | ||
| Q3 25 | — | $-1.0M | ||
| Q2 25 | — | $-9.3M | ||
| Q1 25 | — | $-1.7M | ||
| Q4 24 | $-10.6M | $-19.4M | ||
| Q3 24 | $-8.6M | $-9.5M | ||
| Q2 24 | $-8.6M | $-10.5M | ||
| Q1 24 | $-19.1M | $-13.9M |
| Q4 25 | 291.6% | -24.9% | ||
| Q3 25 | — | -1.7% | ||
| Q2 25 | — | -17.7% | ||
| Q1 25 | — | -3.9% | ||
| Q4 24 | -39.6% | -41.2% | ||
| Q3 24 | -42.3% | -11.6% | ||
| Q2 24 | -44.9% | -15.8% | ||
| Q1 24 | -107.0% | -19.1% |
| Q4 25 | 18.9% | 38.2% | ||
| Q3 25 | — | 6.9% | ||
| Q2 25 | — | 6.7% | ||
| Q1 25 | — | 4.3% | ||
| Q4 24 | 92.3% | 14.4% | ||
| Q3 24 | 37.7% | 5.5% | ||
| Q2 24 | 39.7% | 8.1% | ||
| Q1 24 | 33.5% | 4.9% |
| Q4 25 | 2.50× | — | ||
| Q3 25 | 0.15× | — | ||
| Q2 25 | 4.59× | — | ||
| Q1 25 | 0.61× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -0.02× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ADAM
| Other | $19.6M | 45% |
| Constructive Loans LLC | $14.4M | 33% |
| Multifamily | $9.1M | 21% |
AMTX
| Ethanol Sales | $28.8M | 66% |
| Wet Distillers Grains | $6.8M | 16% |
| California Dairy Renewable Natural Gas | $5.2M | 12% |
| Other | $1.8M | 4% |
