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Side-by-side financial comparison of ADAMAS TRUST, INC. (ADAM) and Legacy Housing Corp (LEGH). Click either name above to swap in a different company.
ADAMAS TRUST, INC. is the larger business by last-quarter revenue ($43.2M vs $25.5M, roughly 1.7× Legacy Housing Corp). ADAMAS TRUST, INC. runs the higher net margin — 124.0% vs 32.2%, a 91.8% gap on every dollar of revenue. On growth, ADAMAS TRUST, INC. posted the faster year-over-year revenue change (61.6% vs -30.6%). ADAMAS TRUST, INC. produced more free cash flow last quarter ($125.9M vs $15.7M). Over the past eight quarters, ADAMAS TRUST, INC.'s revenue compounded faster (55.5% CAGR vs -9.1%).
Legacy Housing Corp is a prominent U.S.-based manufacturer of affordable manufactured homes, tiny homes, and accessory dwelling units. It mainly caters to low- and middle-income consumers across North America, providing customizable residential solutions, supporting construction materials, and after-sales services for individual and community development clients.
ADAM vs LEGH — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $43.2M | $25.5M |
| Net Profit | $53.5M | $8.2M |
| Gross Margin | — | 26.4% |
| Operating Margin | — | 40.4% |
| Net Margin | 124.0% | 32.2% |
| Revenue YoY | 61.6% | -30.6% |
| Net Profit YoY | 270.5% | -43.5% |
| EPS (diluted) | $0.45 | $0.38 |
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 | $25.5M | ||
| Q3 25 | $36.6M | $28.8M | ||
| Q2 25 | $36.4M | $38.4M | ||
| Q1 25 | $33.1M | $24.3M | ||
| Q4 24 | $26.7M | $36.7M | ||
| Q3 24 | $20.2M | $30.2M | ||
| Q2 24 | $19.0M | $31.7M | ||
| Q1 24 | $17.9M | $30.8M |
| Q4 25 | $53.5M | $8.2M | ||
| Q3 25 | $44.8M | $8.6M | ||
| Q2 25 | $8.5M | $14.7M | ||
| Q1 25 | $42.2M | $10.3M | ||
| Q4 24 | $-31.4M | $14.5M | ||
| Q3 24 | $42.8M | $15.8M | ||
| Q2 24 | $-15.6M | $16.2M | ||
| Q1 24 | $-57.9M | $15.1M |
| Q4 25 | — | 26.4% | ||
| Q3 25 | — | 20.2% | ||
| Q2 25 | — | 32.4% | ||
| Q1 25 | — | 29.2% | ||
| Q4 24 | — | 27.3% | ||
| Q3 24 | — | 29.2% | ||
| Q2 24 | — | 31.9% | ||
| Q1 24 | — | 33.6% |
| Q4 25 | — | 40.4% | ||
| Q3 25 | — | 33.7% | ||
| Q2 25 | 11.7% | 43.8% | ||
| Q1 25 | — | 47.7% | ||
| Q4 24 | -119.0% | 42.3% | ||
| Q3 24 | — | 50.8% | ||
| Q2 24 | -124.7% | 50.6% | ||
| Q1 24 | -448.8% | 54.3% |
| Q4 25 | 124.0% | 32.2% | ||
| Q3 25 | 122.5% | 30.0% | ||
| Q2 25 | 23.4% | 38.3% | ||
| Q1 25 | 127.4% | 42.3% | ||
| Q4 24 | -117.5% | 39.5% | ||
| Q3 24 | 211.7% | 52.4% | ||
| Q2 24 | -81.9% | 51.1% | ||
| Q1 24 | -324.1% | 49.1% |
| Q4 25 | $0.45 | $0.38 | ||
| Q3 25 | $0.36 | $0.35 | ||
| Q2 25 | $-0.04 | $0.60 | ||
| Q1 25 | $0.33 | $0.41 | ||
| Q4 24 | $-0.46 | $0.59 | ||
| Q3 24 | $0.36 | $0.64 | ||
| Q2 24 | $-0.29 | $0.65 | ||
| Q1 24 | $-0.75 | $0.60 |
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 | $8.5M |
| Total DebtLower is stronger | $735.8M | — |
| Stockholders' EquityBook value | $1.4B | $528.6M |
| Total Assets | $12.6B | $580.3M |
| Debt / EquityLower = less leverage | 0.52× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $210.3M | $8.5M | ||
| Q3 25 | $185.3M | $13.6M | ||
| Q2 25 | $160.4M | $2.6M | ||
| Q1 25 | $177.1M | $3.4M | ||
| Q4 24 | $167.4M | $1.1M | ||
| Q3 24 | $195.1M | $570.0K | ||
| Q2 24 | $235.5M | $60.0K | ||
| Q1 24 | $226.9M | $621.0K |
| 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 | $528.6M | ||
| Q3 25 | $1.4B | $521.6M | ||
| Q2 25 | $1.4B | $512.8M | ||
| Q1 25 | $1.4B | $503.7M | ||
| Q4 24 | $1.4B | $494.0M | ||
| Q3 24 | $1.4B | $479.3M | ||
| Q2 24 | $1.4B | $463.2M | ||
| Q1 24 | $1.5B | $450.4M |
| Q4 25 | $12.6B | $580.3M | ||
| Q3 25 | $12.4B | $557.9M | ||
| Q2 25 | $10.6B | $552.0M | ||
| Q1 25 | $10.0B | $544.6M | ||
| Q4 24 | $9.2B | $534.2M | ||
| Q3 24 | $8.9B | $521.4M | ||
| Q2 24 | $8.2B | $514.9M | ||
| Q1 24 | $7.4B | $510.0M |
| 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 | $19.0M |
| Free Cash FlowOCF − Capex | $125.9M | $15.7M |
| FCF MarginFCF / Revenue | 291.6% | 61.6% |
| Capex IntensityCapex / Revenue | 18.9% | 13.1% |
| Cash ConversionOCF / Net Profit | 2.50× | 2.32× |
| TTM Free Cash FlowTrailing 4 quarters | — | $28.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $134.0M | $19.0M | ||
| Q3 25 | $6.9M | $7.2M | ||
| Q2 25 | $39.2M | $6.1M | ||
| Q1 25 | $25.8M | $4.9M | ||
| Q4 24 | $14.1M | $7.9M | ||
| Q3 24 | $-922.0K | $13.8M | ||
| Q2 24 | $-993.0K | $3.5M | ||
| Q1 24 | $-13.1M | $10.8M |
| Q4 25 | $125.9M | $15.7M | ||
| Q3 25 | — | $5.1M | ||
| Q2 25 | — | $3.7M | ||
| Q1 25 | — | $3.6M | ||
| Q4 24 | $-10.6M | $6.0M | ||
| Q3 24 | $-8.6M | $9.1M | ||
| Q2 24 | $-8.6M | $1.7M | ||
| Q1 24 | $-19.1M | $9.9M |
| Q4 25 | 291.6% | 61.6% | ||
| Q3 25 | — | 17.8% | ||
| Q2 25 | — | 9.6% | ||
| Q1 25 | — | 15.0% | ||
| Q4 24 | -39.6% | 16.4% | ||
| Q3 24 | -42.3% | 30.2% | ||
| Q2 24 | -44.9% | 5.4% | ||
| Q1 24 | -107.0% | 32.2% |
| Q4 25 | 18.9% | 13.1% | ||
| Q3 25 | — | 7.1% | ||
| Q2 25 | — | 6.2% | ||
| Q1 25 | — | 5.2% | ||
| Q4 24 | 92.3% | 5.1% | ||
| Q3 24 | 37.7% | 15.6% | ||
| Q2 24 | 39.7% | 5.5% | ||
| Q1 24 | 33.5% | 2.8% |
| Q4 25 | 2.50× | 2.32× | ||
| Q3 25 | 0.15× | 0.83× | ||
| Q2 25 | 4.59× | 0.41× | ||
| Q1 25 | 0.61× | 0.48× | ||
| Q4 24 | — | 0.54× | ||
| Q3 24 | -0.02× | 0.88× | ||
| Q2 24 | — | 0.21× | ||
| Q1 24 | — | 0.71× |
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% |
LEGH
| Commercial Sales | $8.6M | 34% |
| Retail Store Sales | $6.0M | 24% |
| Inventory Finance Sales | $5.0M | 20% |
| Direct Sales | $4.4M | 17% |
| Other | $1.5M | 6% |
