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Side-by-side financial comparison of ADAMAS TRUST, INC. (ADAM) and NACCO INDUSTRIES INC (NC). Click either name above to swap in a different company.
NACCO INDUSTRIES INC is the larger business by last-quarter revenue ($66.8M vs $43.2M, roughly 1.5× ADAMAS TRUST, INC.). ADAMAS TRUST, INC. runs the higher net margin — 124.0% vs -5.8%, a 129.7% gap on every dollar of revenue. On growth, ADAMAS TRUST, INC. posted the faster year-over-year revenue change (61.6% vs -5.2%). Over the past eight quarters, ADAMAS TRUST, INC.'s revenue compounded faster (55.5% CAGR vs 11.9%).
NACCO Industries, Inc. is an American publicly traded holding company, headquartered in Cleveland, Ohio. Through a portfolio of mining and natural resources businesses, the company operates under three business segments: Coal Mining, North American Mining, and Minerals Management. The Coal Mining segment operates surface coal mines under long-term contracts with power generation companies and an activated carbon producer pursuant to a service-based business model. The North American Mining se...
ADAM vs NC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $43.2M | $66.8M |
| Net Profit | $53.5M | $-3.8M |
| Gross Margin | — | 18.0% |
| Operating Margin | — | 11.3% |
| Net Margin | 124.0% | -5.8% |
| Revenue YoY | 61.6% | -5.2% |
| Net Profit YoY | 270.5% | -150.8% |
| EPS (diluted) | $0.45 | $-0.53 |
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 | $66.8M | ||
| Q3 25 | $36.6M | $76.6M | ||
| Q2 25 | $36.4M | $68.2M | ||
| Q1 25 | $33.1M | $65.6M | ||
| Q4 24 | $26.7M | $70.4M | ||
| Q3 24 | $20.2M | $61.7M | ||
| Q2 24 | $19.0M | $52.3M | ||
| Q1 24 | $17.9M | $53.3M |
| Q4 25 | $53.5M | $-3.8M | ||
| Q3 25 | $44.8M | $13.3M | ||
| Q2 25 | $8.5M | $3.3M | ||
| Q1 25 | $42.2M | $4.9M | ||
| Q4 24 | $-31.4M | $7.6M | ||
| Q3 24 | $42.8M | $15.6M | ||
| Q2 24 | $-15.6M | $6.0M | ||
| Q1 24 | $-57.9M | $4.6M |
| Q4 25 | — | 18.0% | ||
| Q3 25 | — | 13.0% | ||
| Q2 25 | — | 10.0% | ||
| Q1 25 | — | 14.7% | ||
| Q4 24 | — | 12.0% | ||
| Q3 24 | — | 11.7% | ||
| Q2 24 | — | 13.4% | ||
| Q1 24 | — | 13.2% |
| Q4 25 | — | 11.3% | ||
| Q3 25 | — | 8.8% | ||
| Q2 25 | 11.7% | -0.1% | ||
| Q1 25 | — | 11.7% | ||
| Q4 24 | -119.0% | 5.5% | ||
| Q3 24 | — | 31.9% | ||
| Q2 24 | -124.7% | 14.1% | ||
| Q1 24 | -448.8% | 8.9% |
| Q4 25 | 124.0% | -5.8% | ||
| Q3 25 | 122.5% | 17.3% | ||
| Q2 25 | 23.4% | 4.8% | ||
| Q1 25 | 127.4% | 7.5% | ||
| Q4 24 | -117.5% | 10.7% | ||
| Q3 24 | 211.7% | 25.4% | ||
| Q2 24 | -81.9% | 11.4% | ||
| Q1 24 | -324.1% | 8.6% |
| Q4 25 | $0.45 | $-0.53 | ||
| Q3 25 | $0.36 | $1.78 | ||
| Q2 25 | $-0.04 | $0.44 | ||
| Q1 25 | $0.33 | $0.66 | ||
| Q4 24 | $-0.46 | $0.99 | ||
| Q3 24 | $0.36 | $2.14 | ||
| Q2 24 | $-0.29 | $0.81 | ||
| Q1 24 | $-0.75 | $0.61 |
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 | $49.7M |
| Total DebtLower is stronger | $735.8M | $100.8M |
| Stockholders' EquityBook value | $1.4B | $429.2M |
| Total Assets | $12.6B | $661.2M |
| Debt / EquityLower = less leverage | 0.52× | 0.23× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $210.3M | $49.7M | ||
| Q3 25 | $185.3M | $52.7M | ||
| Q2 25 | $160.4M | $49.4M | ||
| Q1 25 | $177.1M | $61.9M | ||
| Q4 24 | $167.4M | $72.8M | ||
| Q3 24 | $195.1M | $63.1M | ||
| Q2 24 | $235.5M | $62.4M | ||
| Q1 24 | $226.9M | $61.8M |
| Q4 25 | $735.8M | $100.8M | ||
| Q3 25 | $766.6M | — | ||
| Q2 25 | $653.0M | — | ||
| Q1 25 | $654.4M | — | ||
| Q4 24 | $573.2M | $99.4M | ||
| Q3 24 | $699.4M | — | ||
| Q2 24 | $800.7M | $29.0M | ||
| Q1 24 | $1.0B | $28.4M |
| Q4 25 | $1.4B | $429.2M | ||
| Q3 25 | $1.4B | $426.4M | ||
| Q2 25 | $1.4B | $413.1M | ||
| Q1 25 | $1.4B | $409.1M | ||
| Q4 24 | $1.4B | $404.9M | ||
| Q3 24 | $1.4B | $397.3M | ||
| Q2 24 | $1.4B | $384.1M | ||
| Q1 24 | $1.5B | $381.6M |
| Q4 25 | $12.6B | $661.2M | ||
| Q3 25 | $12.4B | $637.6M | ||
| Q2 25 | $10.6B | $631.3M | ||
| Q1 25 | $10.0B | $634.2M | ||
| Q4 24 | $9.2B | $631.7M | ||
| Q3 24 | $8.9B | $597.4M | ||
| Q2 24 | $8.2B | $560.1M | ||
| Q1 24 | $7.4B | $538.0M |
| Q4 25 | 0.52× | 0.23× | ||
| Q3 25 | 0.55× | — | ||
| Q2 25 | 0.47× | — | ||
| Q1 25 | 0.47× | — | ||
| Q4 24 | 0.41× | 0.25× | ||
| Q3 24 | 0.48× | — | ||
| Q2 24 | 0.56× | 0.08× | ||
| Q1 24 | 0.67× | 0.07× |
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 | $11.4M |
| Free Cash FlowOCF − Capex | $125.9M | — |
| FCF MarginFCF / Revenue | 291.6% | — |
| Capex IntensityCapex / Revenue | 18.9% | — |
| Cash ConversionOCF / Net Profit | 2.50× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $134.0M | $11.4M | ||
| Q3 25 | $6.9M | $42.3M | ||
| Q2 25 | $39.2M | $-7.8M | ||
| Q1 25 | $25.8M | $5.0M | ||
| Q4 24 | $14.1M | $25.2M | ||
| Q3 24 | $-922.0K | $2.8M | ||
| Q2 24 | $-993.0K | $4.1M | ||
| Q1 24 | $-13.1M | $-9.8M |
| Q4 25 | $125.9M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $-10.6M | — | ||
| Q3 24 | $-8.6M | — | ||
| Q2 24 | $-8.6M | — | ||
| Q1 24 | $-19.1M | — |
| Q4 25 | 291.6% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -39.6% | — | ||
| Q3 24 | -42.3% | — | ||
| Q2 24 | -44.9% | — | ||
| Q1 24 | -107.0% | — |
| Q4 25 | 18.9% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 92.3% | — | ||
| Q3 24 | 37.7% | — | ||
| Q2 24 | 39.7% | — | ||
| Q1 24 | 33.5% | — |
| Q4 25 | 2.50× | — | ||
| Q3 25 | 0.15× | 3.19× | ||
| Q2 25 | 4.59× | -2.39× | ||
| Q1 25 | 0.61× | 1.03× | ||
| Q4 24 | — | 3.33× | ||
| Q3 24 | -0.02× | 0.18× | ||
| Q2 24 | — | 0.68× | ||
| Q1 24 | — | -2.14× |
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% |
NC
| Transferred Over Time | $42.7M | 64% |
| Transferred At Point In Time | $24.1M | 36% |
