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Side-by-side financial comparison of ADAMAS TRUST, INC. (ADAM) and BGSF, INC. (BGSF). Click either name above to swap in a different company.
ADAMAS TRUST, INC. is the larger business by last-quarter revenue ($43.2M vs $22.0M, roughly 2.0× BGSF, INC.). ADAMAS TRUST, INC. runs the higher net margin — 124.0% vs -5.3%, a 129.3% gap on every dollar of revenue. On growth, ADAMAS TRUST, INC. posted the faster year-over-year revenue change (61.6% vs -9.4%). ADAMAS TRUST, INC. produced more free cash flow last quarter ($125.9M vs $1.7M). Over the past eight quarters, ADAMAS TRUST, INC.'s revenue compounded faster (55.5% CAGR vs -5.3%).
BGSF Inc. is a leading U.S.-headquartered workforce solutions firm that provides tailored staffing, talent recruitment, and end-to-end workforce management services. It serves core segments including information technology, healthcare, professional administration, light industrial, and creative industries, catering to small, mid-sized and large enterprise clients across North America.
ADAM vs BGSF — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $43.2M | $22.0M |
| Net Profit | $53.5M | $-1.2M |
| Gross Margin | — | 35.0% |
| Operating Margin | — | -17.6% |
| Net Margin | 124.0% | -5.3% |
| Revenue YoY | 61.6% | -9.4% |
| Net Profit YoY | 270.5% | -18.2% |
| EPS (diluted) | $0.45 | $-0.12 |
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 | $22.0M | ||
| Q3 25 | $36.6M | $26.9M | ||
| Q2 25 | $36.4M | $23.5M | ||
| Q1 25 | $33.1M | $20.9M | ||
| Q4 24 | $26.7M | $24.3M | ||
| Q3 24 | $20.2M | $29.8M | ||
| Q2 24 | $19.0M | $25.7M | ||
| Q1 24 | $17.9M | $24.5M |
| Q4 25 | $53.5M | $-1.2M | ||
| Q3 25 | $44.8M | $-5.8M | ||
| Q2 25 | $8.5M | $-3.7M | ||
| Q1 25 | $42.2M | $-722.0K | ||
| Q4 24 | $-31.4M | $-981.0K | ||
| Q3 24 | $42.8M | $-804.0K | ||
| Q2 24 | $-15.6M | $-761.0K | ||
| Q1 24 | $-57.9M | $-792.0K |
| Q4 25 | — | 35.0% | ||
| Q3 25 | — | 35.9% | ||
| Q2 25 | — | 35.8% | ||
| Q1 25 | — | 36.2% | ||
| Q4 24 | — | 35.9% | ||
| Q3 24 | — | 35.9% | ||
| Q2 24 | — | 37.3% | ||
| Q1 24 | — | 38.1% |
| Q4 25 | — | -17.6% | ||
| Q3 25 | — | -3.5% | ||
| Q2 25 | 11.7% | -18.8% | ||
| Q1 25 | — | 1.6% | ||
| Q4 24 | -119.0% | -15.7% | ||
| Q3 24 | — | -3.4% | ||
| Q2 24 | -124.7% | -5.7% | ||
| Q1 24 | -448.8% | 1.7% |
| Q4 25 | 124.0% | -5.3% | ||
| Q3 25 | 122.5% | -21.6% | ||
| Q2 25 | 23.4% | -15.9% | ||
| Q1 25 | 127.4% | -3.5% | ||
| Q4 24 | -117.5% | -4.0% | ||
| Q3 24 | 211.7% | -2.7% | ||
| Q2 24 | -81.9% | -3.0% | ||
| Q1 24 | -324.1% | -3.2% |
| Q4 25 | $0.45 | $-0.12 | ||
| Q3 25 | $0.36 | $-0.52 | ||
| Q2 25 | $-0.04 | $-0.34 | ||
| Q1 25 | $0.33 | $-0.06 | ||
| Q4 24 | $-0.46 | — | ||
| Q3 24 | $0.36 | $-0.07 | ||
| Q2 24 | $-0.29 | $-0.07 | ||
| Q1 24 | $-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 | $210.3M | — |
| Total DebtLower is stronger | $735.8M | — |
| Stockholders' EquityBook value | $1.4B | $48.1M |
| Total Assets | $12.6B | $57.8M |
| Debt / EquityLower = less leverage | 0.52× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $210.3M | — | ||
| Q3 25 | $185.3M | $41.2M | ||
| Q2 25 | $160.4M | $2.8M | ||
| Q1 25 | $177.1M | $2.0M | ||
| Q4 24 | $167.4M | $32.0K | ||
| Q3 24 | $195.1M | $262 | ||
| Q2 24 | $235.5M | $226 | ||
| Q1 24 | $226.9M | $50 |
| Q4 25 | $735.8M | — | ||
| Q3 25 | $766.6M | — | ||
| Q2 25 | $653.0M | — | ||
| Q1 25 | $654.4M | — | ||
| Q4 24 | $573.2M | — | ||
| Q3 24 | $699.4M | — | ||
| Q2 24 | $800.7M | — | ||
| Q1 24 | $1.0B | — |
| Q4 25 | $1.4B | $48.1M | ||
| Q3 25 | $1.4B | $50.7M | ||
| Q2 25 | $1.4B | $78.3M | ||
| Q1 25 | $1.4B | $81.8M | ||
| Q4 24 | $1.4B | $82.3M | ||
| Q3 24 | $1.4B | $82.9M | ||
| Q2 24 | $1.4B | $83.2M | ||
| Q1 24 | $1.5B | $83.6M |
| Q4 25 | $12.6B | $57.8M | ||
| Q3 25 | $12.4B | $83.6M | ||
| Q2 25 | $10.6B | $149.7M | ||
| Q1 25 | $10.0B | $152.3M | ||
| Q4 24 | $9.2B | $150.1M | ||
| Q3 24 | $8.9B | $157.3K | ||
| Q2 24 | $8.2B | $159.8K | ||
| Q1 24 | $7.4B | $170.6K |
| 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 | $1.7M |
| Free Cash FlowOCF − Capex | $125.9M | $1.7M |
| FCF MarginFCF / Revenue | 291.6% | 7.6% |
| Capex IntensityCapex / Revenue | 18.9% | 0.1% |
| Cash ConversionOCF / Net Profit | 2.50× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-16.0K |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $134.0M | $1.7M | ||
| Q3 25 | $6.9M | $-4.8M | ||
| Q2 25 | $39.2M | $2.2M | ||
| Q1 25 | $25.8M | $1.1M | ||
| Q4 24 | $14.1M | $3.2M | ||
| Q3 24 | $-922.0K | $6.5M | ||
| Q2 24 | $-993.0K | $7.3M | ||
| Q1 24 | $-13.1M | $7.4M |
| Q4 25 | $125.9M | $1.7M | ||
| Q3 25 | — | $-4.9M | ||
| Q2 25 | — | $2.1M | ||
| Q1 25 | — | $1.0M | ||
| Q4 24 | $-10.6M | $2.5M | ||
| Q3 24 | $-8.6M | $6.5M | ||
| Q2 24 | $-8.6M | $7.3M | ||
| Q1 24 | $-19.1M | $6.9M |
| Q4 25 | 291.6% | 7.6% | ||
| Q3 25 | — | -18.1% | ||
| Q2 25 | — | 9.1% | ||
| Q1 25 | — | 5.0% | ||
| Q4 24 | -39.6% | 10.2% | ||
| Q3 24 | -42.3% | 21.7% | ||
| Q2 24 | -44.9% | 28.5% | ||
| Q1 24 | -107.0% | 28.1% |
| Q4 25 | 18.9% | 0.1% | ||
| Q3 25 | — | 0.4% | ||
| Q2 25 | — | 0.0% | ||
| Q1 25 | — | 0.1% | ||
| Q4 24 | 92.3% | 3.0% | ||
| Q3 24 | 37.7% | 0.0% | ||
| Q2 24 | 39.7% | 0.0% | ||
| Q1 24 | 33.5% | 2.0% |
| 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% |
BGSF
| Contract Field Talent | $21.4M | 97% |
| Other | $595.0K | 3% |
