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Side-by-side financial comparison of ADAMAS TRUST, INC. (ADAM) and Lifeway Foods, Inc. (LWAY). Click either name above to swap in a different company.
Lifeway Foods, Inc. is the larger business by last-quarter revenue ($55.4M vs $43.2M, roughly 1.3× ADAMAS TRUST, INC.). ADAMAS TRUST, INC. runs the higher net margin — 124.0% vs 4.6%, a 119.4% gap on every dollar of revenue. On growth, ADAMAS TRUST, INC. posted the faster year-over-year revenue change (61.6% vs 18.0%). ADAMAS TRUST, INC. produced more free cash flow last quarter ($125.9M vs $-17.4M). Over the past eight quarters, ADAMAS TRUST, INC.'s revenue compounded faster (55.5% CAGR vs 11.4%).
Lifeway Foods is an Illinois-based health food company founded in 1986. They are a leading U.S. supplier of kefir and fermented probiotic products to support the microbiome.
ADAM vs LWAY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $43.2M | $55.4M |
| Net Profit | $53.5M | $2.5M |
| Gross Margin | — | 27.8% |
| Operating Margin | — | 6.8% |
| Net Margin | 124.0% | 4.6% |
| Revenue YoY | 61.6% | 18.0% |
| Net Profit YoY | 270.5% | 1688.1% |
| EPS (diluted) | $0.45 | $0.15 |
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 | $55.4M | ||
| Q3 25 | $36.6M | $57.1M | ||
| Q2 25 | $36.4M | $53.9M | ||
| Q1 25 | $33.1M | $46.1M | ||
| Q4 24 | $26.7M | $46.9M | ||
| Q3 24 | $20.2M | $46.1M | ||
| Q2 24 | $19.0M | $49.2M | ||
| Q1 24 | $17.9M | $44.6M |
| Q4 25 | $53.5M | $2.5M | ||
| Q3 25 | $44.8M | $3.5M | ||
| Q2 25 | $8.5M | $4.2M | ||
| Q1 25 | $42.2M | $3.5M | ||
| Q4 24 | $-31.4M | $-160.0K | ||
| Q3 24 | $42.8M | $3.0M | ||
| Q2 24 | $-15.6M | $3.8M | ||
| Q1 24 | $-57.9M | $2.4M |
| Q4 25 | — | 27.8% | ||
| Q3 25 | — | 28.7% | ||
| Q2 25 | — | 28.6% | ||
| Q1 25 | — | 23.9% | ||
| Q4 24 | — | 25.3% | ||
| Q3 24 | — | 25.7% | ||
| Q2 24 | — | 27.0% | ||
| Q1 24 | — | 25.8% |
| Q4 25 | — | 6.8% | ||
| Q3 25 | — | 8.8% | ||
| Q2 25 | 11.7% | 10.8% | ||
| Q1 25 | — | 3.4% | ||
| Q4 24 | -119.0% | 1.5% | ||
| Q3 24 | — | 9.1% | ||
| Q2 24 | -124.7% | 11.0% | ||
| Q1 24 | -448.8% | 8.0% |
| Q4 25 | 124.0% | 4.6% | ||
| Q3 25 | 122.5% | 6.2% | ||
| Q2 25 | 23.4% | 7.9% | ||
| Q1 25 | 127.4% | 7.7% | ||
| Q4 24 | -117.5% | -0.3% | ||
| Q3 24 | 211.7% | 6.5% | ||
| Q2 24 | -81.9% | 7.7% | ||
| Q1 24 | -324.1% | 5.4% |
| Q4 25 | $0.45 | $0.15 | ||
| Q3 25 | $0.36 | $0.23 | ||
| Q2 25 | $-0.04 | $0.28 | ||
| Q1 25 | $0.33 | $0.23 | ||
| Q4 24 | $-0.46 | $0.00 | ||
| Q3 24 | $0.36 | $0.19 | ||
| Q2 24 | $-0.29 | $0.25 | ||
| Q1 24 | $-0.75 | $0.16 |
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 | $5.6M |
| Total DebtLower is stronger | $735.8M | — |
| Stockholders' EquityBook value | $1.4B | $85.8M |
| Total Assets | $12.6B | $105.6M |
| Debt / EquityLower = less leverage | 0.52× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $210.3M | $5.6M | ||
| Q3 25 | $185.3M | $23.0M | ||
| Q2 25 | $160.4M | $21.2M | ||
| Q1 25 | $177.1M | $19.4M | ||
| Q4 24 | $167.4M | $16.7M | ||
| Q3 24 | $195.1M | $20.6M | ||
| Q2 24 | $235.5M | $14.6M | ||
| Q1 24 | $226.9M | $12.0M |
| 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 | $2.5M |
| Q4 25 | $1.4B | $85.8M | ||
| Q3 25 | $1.4B | $82.8M | ||
| Q2 25 | $1.4B | $78.7M | ||
| Q1 25 | $1.4B | $74.2M | ||
| Q4 24 | $1.4B | $71.9M | ||
| Q3 24 | $1.4B | $71.5M | ||
| Q2 24 | $1.4B | $68.0M | ||
| Q1 24 | $1.5B | $63.5M |
| Q4 25 | $12.6B | $105.6M | ||
| Q3 25 | $12.4B | $109.5M | ||
| Q2 25 | $10.6B | $98.3M | ||
| Q1 25 | $10.0B | $93.7M | ||
| Q4 24 | $9.2B | $90.5M | ||
| Q3 24 | $8.9B | $91.3M | ||
| Q2 24 | $8.2B | $84.9M | ||
| Q1 24 | $7.4B | $82.8M |
| 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× | 0.04× |
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 | $267.0K |
| Free Cash FlowOCF − Capex | $125.9M | $-17.4M |
| FCF MarginFCF / Revenue | 291.6% | -31.5% |
| Capex IntensityCapex / Revenue | 18.9% | 31.9% |
| Cash ConversionOCF / Net Profit | 2.50× | 0.11× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-16.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $134.0M | $267.0K | ||
| Q3 25 | $6.9M | $6.9M | ||
| Q2 25 | $39.2M | $3.9M | ||
| Q1 25 | $25.8M | $-150.0K | ||
| Q4 24 | $14.1M | $-2.6M | ||
| Q3 24 | $-922.0K | $7.5M | ||
| Q2 24 | $-993.0K | $6.5M | ||
| Q1 24 | $-13.1M | $1.5M |
| Q4 25 | $125.9M | $-17.4M | ||
| Q3 25 | — | $1.8M | ||
| Q2 25 | — | $1.6M | ||
| Q1 25 | — | $-2.4M | ||
| Q4 24 | $-10.6M | $-3.8M | ||
| Q3 24 | $-8.6M | $5.9M | ||
| Q2 24 | $-8.6M | $5.1M | ||
| Q1 24 | $-19.1M | $-923.0K |
| Q4 25 | 291.6% | -31.5% | ||
| Q3 25 | — | 3.1% | ||
| Q2 25 | — | 3.0% | ||
| Q1 25 | — | -5.1% | ||
| Q4 24 | -39.6% | -8.2% | ||
| Q3 24 | -42.3% | 12.8% | ||
| Q2 24 | -44.9% | 10.4% | ||
| Q1 24 | -107.0% | -2.1% |
| Q4 25 | 18.9% | 31.9% | ||
| Q3 25 | — | 9.0% | ||
| Q2 25 | — | 4.3% | ||
| Q1 25 | — | 4.8% | ||
| Q4 24 | 92.3% | 2.7% | ||
| Q3 24 | 37.7% | 3.3% | ||
| Q2 24 | 39.7% | 2.9% | ||
| Q1 24 | 33.5% | 5.5% |
| Q4 25 | 2.50× | 0.11× | ||
| Q3 25 | 0.15× | 1.96× | ||
| Q2 25 | 4.59× | 0.92× | ||
| Q1 25 | 0.61× | -0.04× | ||
| Q4 24 | — | — | ||
| Q3 24 | -0.02× | 2.50× | ||
| Q2 24 | — | 1.73× | ||
| Q1 24 | — | 0.64× |
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% |
LWAY
| Drinkable Kefirotherthan Pro Bugs | $47.8M | 86% |
| Cheese | $4.7M | 8% |
| Cream And Other | $1.7M | 3% |
| Other | $1.2M | 2% |
