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Side-by-side financial comparison of ADAMAS TRUST, INC. (ADAM) and CBAK Energy Technology, Inc. (CBAT). Click either name above to swap in a different company.
CBAK Energy Technology, Inc. is the larger business by last-quarter revenue ($58.8M vs $43.2M, roughly 1.4× ADAMAS TRUST, INC.). ADAMAS TRUST, INC. runs the higher net margin — 124.0% vs -12.5%, a 136.5% gap on every dollar of revenue. On growth, CBAK Energy Technology, Inc. posted the faster year-over-year revenue change (131.8% vs 61.6%). ADAMAS TRUST, INC. produced more free cash flow last quarter ($125.9M vs $16.1M). Over the past eight quarters, ADAMAS TRUST, INC.'s revenue compounded faster (55.5% CAGR vs -0.0%).
CBAK Energy Technology, Inc. is a global supplier of lithium-ion battery products including high-performance cells, modules and battery packs. It serves key segments such as electric vehicles, stationary energy storage systems and consumer electronics, with core operations in China and a worldwide customer base.
ADAM vs CBAT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $43.2M | $58.8M |
| Net Profit | $53.5M | $-7.4M |
| Gross Margin | — | 7.3% |
| Operating Margin | — | -13.6% |
| Net Margin | 124.0% | -12.5% |
| Revenue YoY | 61.6% | 131.8% |
| Net Profit YoY | 270.5% | -63.6% |
| EPS (diluted) | $0.45 | $-0.08 |
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 | $58.8M | ||
| Q3 25 | $36.6M | $60.9M | ||
| Q2 25 | $36.4M | $40.5M | ||
| Q1 25 | $33.1M | $34.9M | ||
| Q4 24 | $26.7M | $25.4M | ||
| Q3 24 | $20.2M | $44.6M | ||
| Q2 24 | $19.0M | $47.8M | ||
| Q1 24 | $17.9M | $58.8M |
| Q4 25 | $53.5M | $-7.4M | ||
| Q3 25 | $44.8M | $2.7M | ||
| Q2 25 | $8.5M | $-3.1M | ||
| Q1 25 | $42.2M | $-1.6M | ||
| Q4 24 | $-31.4M | $-4.5M | ||
| Q3 24 | $42.8M | $17.6K | ||
| Q2 24 | $-15.6M | $6.4M | ||
| Q1 24 | $-57.9M | $9.8M |
| Q4 25 | — | 7.3% | ||
| Q3 25 | — | 8.0% | ||
| Q2 25 | — | 11.0% | ||
| Q1 25 | — | 13.7% | ||
| Q4 24 | — | 13.1% | ||
| Q3 24 | — | 15.6% | ||
| Q2 24 | — | 26.6% | ||
| Q1 24 | — | 31.9% |
| Q4 25 | — | -13.6% | ||
| Q3 25 | — | -6.6% | ||
| Q2 25 | 11.7% | -8.7% | ||
| Q1 25 | — | -8.2% | ||
| Q4 24 | -119.0% | -26.0% | ||
| Q3 24 | — | -1.9% | ||
| Q2 24 | -124.7% | 12.4% | ||
| Q1 24 | -448.8% | 17.4% |
| Q4 25 | 124.0% | -12.5% | ||
| Q3 25 | 122.5% | 4.4% | ||
| Q2 25 | 23.4% | -7.6% | ||
| Q1 25 | 127.4% | -4.5% | ||
| Q4 24 | -117.5% | -17.8% | ||
| Q3 24 | 211.7% | 0.0% | ||
| Q2 24 | -81.9% | 13.5% | ||
| Q1 24 | -324.1% | 16.7% |
| Q4 25 | $0.45 | $-0.08 | ||
| Q3 25 | $0.36 | $0.03 | ||
| Q2 25 | $-0.04 | $-0.03 | ||
| Q1 25 | $0.33 | $-0.02 | ||
| Q4 24 | $-0.46 | $-0.05 | ||
| Q3 24 | $0.36 | $0.00 | ||
| Q2 24 | $-0.29 | $0.07 | ||
| Q1 24 | $-0.75 | $0.11 |
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 | $8.3M |
| Total DebtLower is stronger | $735.8M | $4.1M |
| Stockholders' EquityBook value | $1.4B | $112.7M |
| Total Assets | $12.6B | $426.2M |
| Debt / EquityLower = less leverage | 0.52× | 0.04× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $210.3M | $8.3M | ||
| Q3 25 | $185.3M | $10.5M | ||
| Q2 25 | $160.4M | $45.7M | ||
| Q1 25 | $177.1M | $9.6M | ||
| Q4 24 | $167.4M | $11.0M | ||
| Q3 24 | $195.1M | $24.2M | ||
| Q2 24 | $235.5M | $44.1M | ||
| Q1 24 | $226.9M | $23.8M |
| Q4 25 | $735.8M | $4.1M | ||
| Q3 25 | $766.6M | $4.8M | ||
| Q2 25 | $653.0M | $4.9M | ||
| Q1 25 | $654.4M | $4.1M | ||
| Q4 24 | $573.2M | — | ||
| Q3 24 | $699.4M | — | ||
| Q2 24 | $800.7M | — | ||
| Q1 24 | $1.0B | — |
| Q4 25 | $1.4B | $112.7M | ||
| Q3 25 | $1.4B | $121.4M | ||
| Q2 25 | $1.4B | $118.2M | ||
| Q1 25 | $1.4B | $120.8M | ||
| Q4 24 | $1.4B | $121.7M | ||
| Q3 24 | $1.4B | $131.2M | ||
| Q2 24 | $1.4B | $126.6M | ||
| Q1 24 | $1.5B | $120.9M |
| Q4 25 | $12.6B | $426.2M | ||
| Q3 25 | $12.4B | $363.9M | ||
| Q2 25 | $10.6B | $333.1M | ||
| Q1 25 | $10.0B | $311.5M | ||
| Q4 24 | $9.2B | $302.2M | ||
| Q3 24 | $8.9B | $293.5M | ||
| Q2 24 | $8.2B | $279.6M | ||
| Q1 24 | $7.4B | $286.5M |
| Q4 25 | 0.52× | 0.04× | ||
| Q3 25 | 0.55× | 0.04× | ||
| Q2 25 | 0.47× | 0.04× | ||
| Q1 25 | 0.47× | 0.03× | ||
| 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 | $29.8M |
| Free Cash FlowOCF − Capex | $125.9M | $16.1M |
| FCF MarginFCF / Revenue | 291.6% | 27.3% |
| Capex IntensityCapex / Revenue | 18.9% | 23.4% |
| Cash ConversionOCF / Net Profit | 2.50× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $3.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $134.0M | $29.8M | ||
| Q3 25 | $6.9M | $14.6M | ||
| Q2 25 | $39.2M | $13.8M | ||
| Q1 25 | $25.8M | $-9.6M | ||
| Q4 24 | $14.1M | $9.6M | ||
| Q3 24 | $-922.0K | $19.7M | ||
| Q2 24 | $-993.0K | $2.9M | ||
| Q1 24 | $-13.1M | $7.4M |
| Q4 25 | $125.9M | $16.1M | ||
| Q3 25 | — | $6.0M | ||
| Q2 25 | — | $4.1M | ||
| Q1 25 | — | $-22.3M | ||
| Q4 24 | $-10.6M | $3.9M | ||
| Q3 24 | $-8.6M | $16.5M | ||
| Q2 24 | $-8.6M | $2.5M | ||
| Q1 24 | $-19.1M | $-454.0K |
| Q4 25 | 291.6% | 27.3% | ||
| Q3 25 | — | 9.9% | ||
| Q2 25 | — | 10.2% | ||
| Q1 25 | — | -63.9% | ||
| Q4 24 | -39.6% | 15.5% | ||
| Q3 24 | -42.3% | 37.1% | ||
| Q2 24 | -44.9% | 5.2% | ||
| Q1 24 | -107.0% | -0.8% |
| Q4 25 | 18.9% | 23.4% | ||
| Q3 25 | — | 14.1% | ||
| Q2 25 | — | 23.8% | ||
| Q1 25 | — | 36.3% | ||
| Q4 24 | 92.3% | 22.5% | ||
| Q3 24 | 37.7% | 7.0% | ||
| Q2 24 | 39.7% | 0.9% | ||
| Q1 24 | 33.5% | 13.4% |
| Q4 25 | 2.50× | — | ||
| Q3 25 | 0.15× | 5.51× | ||
| Q2 25 | 4.59× | — | ||
| Q1 25 | 0.61× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -0.02× | 1115.72× | ||
| Q2 24 | — | 0.46× | ||
| Q1 24 | — | 0.76× |
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% |
CBAT
| Manufacturing Lithium Batteries | $28.0M | 48% |
| Residential Energy Supply And Uninterruptable Supplies | $17.8M | 30% |
| Light Electric Vehicles | $12.9M | 22% |
| Precursor | $108.0K | 0% |
