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Side-by-side financial comparison of ADAMAS TRUST, INC. (ADAM) and Clearfield, Inc. (CLFD). Click either name above to swap in a different company.
ADAMAS TRUST, INC. is the larger business by last-quarter revenue ($43.2M vs $34.3M, roughly 1.3× Clearfield, Inc.). ADAMAS TRUST, INC. runs the higher net margin — 124.0% vs -1.8%, a 125.8% gap on every dollar of revenue. On growth, ADAMAS TRUST, INC. posted the faster year-over-year revenue change (61.6% vs -3.2%). ADAMAS TRUST, INC. produced more free cash flow last quarter ($125.9M vs $-2.4M). Over the past eight quarters, ADAMAS TRUST, INC.'s revenue compounded faster (55.5% CAGR vs -3.5%).
Clearfield, Inc. is a company headquartered in Minneapolis, Minnesota. The company produces fiber optic products.
ADAM vs CLFD — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $43.2M | $34.3M |
| Net Profit | $53.5M | $-614.0K |
| Gross Margin | — | 33.2% |
| Operating Margin | — | -5.3% |
| Net Margin | 124.0% | -1.8% |
| Revenue YoY | 61.6% | -3.2% |
| Net Profit YoY | 270.5% | 67.8% |
| EPS (diluted) | $0.45 | $-0.04 |
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 | $34.3M | ||
| Q3 25 | $36.6M | $23.4M | ||
| Q2 25 | $36.4M | $49.9M | ||
| Q1 25 | $33.1M | $47.2M | ||
| Q4 24 | $26.7M | $29.7M | ||
| Q3 24 | $20.2M | $5.6M | ||
| Q2 24 | $19.0M | $48.8M | ||
| Q1 24 | $17.9M | $36.9M |
| Q4 25 | $53.5M | $-614.0K | ||
| Q3 25 | $44.8M | $-9.1M | ||
| Q2 25 | $8.5M | $1.6M | ||
| Q1 25 | $42.2M | $1.3M | ||
| Q4 24 | $-31.4M | $-1.9M | ||
| Q3 24 | $42.8M | — | ||
| Q2 24 | $-15.6M | $-447.0K | ||
| Q1 24 | $-57.9M | $-5.9M |
| Q4 25 | — | 33.2% | ||
| Q3 25 | — | 53.2% | ||
| Q2 25 | — | 30.5% | ||
| Q1 25 | — | 30.1% | ||
| Q4 24 | — | 29.2% | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 21.9% | ||
| Q1 24 | — | 7.7% |
| Q4 25 | — | -5.3% | ||
| Q3 25 | — | 10.3% | ||
| Q2 25 | 11.7% | 3.0% | ||
| Q1 25 | — | 0.6% | ||
| Q4 24 | -119.0% | -6.9% | ||
| Q3 24 | — | — | ||
| Q2 24 | -124.7% | -4.7% | ||
| Q1 24 | -448.8% | -26.4% |
| Q4 25 | 124.0% | -1.8% | ||
| Q3 25 | 122.5% | -38.8% | ||
| Q2 25 | 23.4% | 3.2% | ||
| Q1 25 | 127.4% | 2.8% | ||
| Q4 24 | -117.5% | -6.4% | ||
| Q3 24 | 211.7% | — | ||
| Q2 24 | -81.9% | -0.9% | ||
| Q1 24 | -324.1% | -16.0% |
| Q4 25 | $0.45 | $-0.04 | ||
| Q3 25 | $0.36 | $-0.65 | ||
| Q2 25 | $-0.04 | $0.11 | ||
| Q1 25 | $0.33 | $0.09 | ||
| Q4 24 | $-0.46 | $-0.13 | ||
| Q3 24 | $0.36 | — | ||
| Q2 24 | $-0.29 | $-0.04 | ||
| Q1 24 | $-0.75 | $-0.40 |
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 | $96.4M |
| Total DebtLower is stronger | $735.8M | — |
| Stockholders' EquityBook value | $1.4B | $249.7M |
| Total Assets | $12.6B | $268.1M |
| Debt / EquityLower = less leverage | 0.52× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $210.3M | $96.4M | ||
| Q3 25 | $185.3M | $106.0M | ||
| Q2 25 | $160.4M | $117.2M | ||
| Q1 25 | $177.1M | $112.0M | ||
| Q4 24 | $167.4M | $113.0M | ||
| Q3 24 | $195.1M | $129.0M | ||
| Q2 24 | $235.5M | $123.8M | ||
| Q1 24 | $226.9M | $142.9M |
| Q4 25 | $735.8M | — | ||
| Q3 25 | $766.6M | — | ||
| Q2 25 | $653.0M | — | ||
| Q1 25 | $654.4M | — | ||
| Q4 24 | $573.2M | — | ||
| Q3 24 | $699.4M | $2.2M | ||
| Q2 24 | $800.7M | $2.1M | ||
| Q1 24 | $1.0B | — |
| Q4 25 | $1.4B | $249.7M | ||
| Q3 25 | $1.4B | $256.2M | ||
| Q2 25 | $1.4B | $264.5M | ||
| Q1 25 | $1.4B | $265.9M | ||
| Q4 24 | $1.4B | $267.4M | ||
| Q3 24 | $1.4B | $275.8M | ||
| Q2 24 | $1.4B | $274.6M | ||
| Q1 24 | $1.5B | $279.2M |
| Q4 25 | $12.6B | $268.1M | ||
| Q3 25 | $12.4B | $306.2M | ||
| Q2 25 | $10.6B | $314.7M | ||
| Q1 25 | $10.0B | $310.9M | ||
| Q4 24 | $9.2B | $303.2M | ||
| Q3 24 | $8.9B | $315.3M | ||
| Q2 24 | $8.2B | $318.1M | ||
| Q1 24 | $7.4B | $315.4M |
| Q4 25 | 0.52× | — | ||
| Q3 25 | 0.55× | — | ||
| Q2 25 | 0.47× | — | ||
| Q1 25 | 0.47× | — | ||
| Q4 24 | 0.41× | — | ||
| Q3 24 | 0.48× | 0.01× | ||
| Q2 24 | 0.56× | 0.01× | ||
| 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 | $-1.4M |
| Free Cash FlowOCF − Capex | $125.9M | $-2.4M |
| FCF MarginFCF / Revenue | 291.6% | -7.1% |
| Capex IntensityCapex / Revenue | 18.9% | 2.9% |
| Cash ConversionOCF / Net Profit | 2.50× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $134.0M | $-1.4M | ||
| Q3 25 | $6.9M | — | ||
| Q2 25 | $39.2M | $7.9M | ||
| Q1 25 | $25.8M | $3.0M | ||
| Q4 24 | $14.1M | $7.2M | ||
| Q3 24 | $-922.0K | $22.2M | ||
| Q2 24 | $-993.0K | $4.0M | ||
| Q1 24 | $-13.1M | $-5.7M |
| Q4 25 | $125.9M | $-2.4M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $7.5M | ||
| Q1 25 | — | $654.0K | ||
| Q4 24 | $-10.6M | $5.1M | ||
| Q3 24 | $-8.6M | $18.2M | ||
| Q2 24 | $-8.6M | $2.8M | ||
| Q1 24 | $-19.1M | $-7.7M |
| Q4 25 | 291.6% | -7.1% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 15.1% | ||
| Q1 25 | — | 1.4% | ||
| Q4 24 | -39.6% | 17.1% | ||
| Q3 24 | -42.3% | 323.0% | ||
| Q2 24 | -44.9% | 5.8% | ||
| Q1 24 | -107.0% | -20.8% |
| Q4 25 | 18.9% | 2.9% | ||
| Q3 25 | — | 2.0% | ||
| Q2 25 | — | 0.8% | ||
| Q1 25 | — | 5.1% | ||
| Q4 24 | 92.3% | 7.0% | ||
| Q3 24 | 37.7% | 71.4% | ||
| Q2 24 | 39.7% | 2.5% | ||
| Q1 24 | 33.5% | 5.3% |
| Q4 25 | 2.50× | — | ||
| Q3 25 | 0.15× | — | ||
| Q2 25 | 4.59× | 4.93× | ||
| Q1 25 | 0.61× | 2.30× | ||
| 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% |
CLFD
Segment breakdown not available.
