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Side-by-side financial comparison of ADAMAS TRUST, INC. (ADAM) and NORTECH SYSTEMS INC (NSYS). Click either name above to swap in a different company.
ADAMAS TRUST, INC. is the larger business by last-quarter revenue ($43.2M vs $30.3M, roughly 1.4× NORTECH SYSTEMS INC). ADAMAS TRUST, INC. runs the higher net margin — 124.0% vs 3.0%, a 121.0% gap on every dollar of revenue. On growth, ADAMAS TRUST, INC. posted the faster year-over-year revenue change (61.6% vs 5.9%). ADAMAS TRUST, INC. produced more free cash flow last quarter ($125.9M vs $5.5M). Over the past eight quarters, ADAMAS TRUST, INC.'s revenue compounded faster (55.5% CAGR vs -5.9%).
Nortech Systems Inc is a global electronics manufacturing services provider. It delivers end-to-end solutions covering product design, prototyping, full-scale production, and supply chain management for clients operating in medical technology, industrial automation, aerospace and defense, and transportation sectors. It specializes in high-reliability, regulatory-compliant electronic components and assemblies tailored to strict industry standards.
ADAM vs NSYS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $43.2M | $30.3M |
| Net Profit | $53.5M | $897.0K |
| Gross Margin | — | 16.7% |
| Operating Margin | — | 3.0% |
| Net Margin | 124.0% | 3.0% |
| Revenue YoY | 61.6% | 5.9% |
| Net Profit YoY | 270.5% | 160.7% |
| EPS (diluted) | $0.45 | $0.32 |
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 | $30.3M | ||
| Q3 25 | $36.6M | $30.5M | ||
| Q2 25 | $36.4M | $30.7M | ||
| Q1 25 | $33.1M | $26.9M | ||
| Q4 24 | $26.7M | $28.6M | ||
| Q3 24 | $20.2M | $31.4M | ||
| Q2 24 | $19.0M | $33.9M | ||
| Q1 24 | $17.9M | $34.2M |
| Q4 25 | $53.5M | $897.0K | ||
| Q3 25 | $44.8M | $-146.0K | ||
| Q2 25 | $8.5M | $313.0K | ||
| Q1 25 | $42.2M | $-1.3M | ||
| Q4 24 | $-31.4M | $-1.5M | ||
| Q3 24 | $42.8M | $-739.0K | ||
| Q2 24 | $-15.6M | $157.0K | ||
| Q1 24 | $-57.9M | $765.0K |
| Q4 25 | — | 16.7% | ||
| Q3 25 | — | 16.5% | ||
| Q2 25 | — | 15.8% | ||
| Q1 25 | — | 11.4% | ||
| Q4 24 | — | 9.9% | ||
| Q3 24 | — | 12.2% | ||
| Q2 24 | — | 13.6% | ||
| Q1 24 | — | 15.9% |
| Q4 25 | — | 3.0% | ||
| Q3 25 | — | 3.1% | ||
| Q2 25 | 11.7% | 2.4% | ||
| Q1 25 | — | -6.0% | ||
| Q4 24 | -119.0% | -4.3% | ||
| Q3 24 | — | -1.5% | ||
| Q2 24 | -124.7% | 1.0% | ||
| Q1 24 | -448.8% | 3.4% |
| Q4 25 | 124.0% | 3.0% | ||
| Q3 25 | 122.5% | -0.5% | ||
| Q2 25 | 23.4% | 1.0% | ||
| Q1 25 | 127.4% | -4.9% | ||
| Q4 24 | -117.5% | -5.2% | ||
| Q3 24 | 211.7% | -2.4% | ||
| Q2 24 | -81.9% | 0.5% | ||
| Q1 24 | -324.1% | 2.2% |
| Q4 25 | $0.45 | $0.32 | ||
| Q3 25 | $0.36 | $-0.05 | ||
| Q2 25 | $-0.04 | $0.12 | ||
| Q1 25 | $0.33 | $-0.48 | ||
| Q4 24 | $-0.46 | $-0.51 | ||
| Q3 24 | $0.36 | $-0.27 | ||
| Q2 24 | $-0.29 | $0.05 | ||
| Q1 24 | $-0.75 | $0.26 |
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 | $1.7M |
| Total DebtLower is stronger | $735.8M | — |
| Stockholders' EquityBook value | $1.4B | $34.5M |
| Total Assets | $12.6B | $71.9M |
| Debt / EquityLower = less leverage | 0.52× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $210.3M | $1.7M | ||
| Q3 25 | $185.3M | $1.3M | ||
| Q2 25 | $160.4M | $652.0K | ||
| Q1 25 | $177.1M | $1.2M | ||
| Q4 24 | $167.4M | $916.0K | ||
| Q3 24 | $195.1M | $1.2M | ||
| Q2 24 | $235.5M | $1.5M | ||
| Q1 24 | $226.9M | $4.0M |
| 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 | — |
| Q4 25 | $1.4B | $34.5M | ||
| Q3 25 | $1.4B | $33.4M | ||
| Q2 25 | $1.4B | $33.4M | ||
| Q1 25 | $1.4B | $32.8M | ||
| Q4 24 | $1.4B | $34.0M | ||
| Q3 24 | $1.4B | $35.7M | ||
| Q2 24 | $1.4B | $36.1M | ||
| Q1 24 | $1.5B | $36.0M |
| Q4 25 | $12.6B | $71.9M | ||
| Q3 25 | $12.4B | $74.8M | ||
| Q2 25 | $10.6B | $74.8M | ||
| Q1 25 | $10.0B | $73.5M | ||
| Q4 24 | $9.2B | $72.4M | ||
| Q3 24 | $8.9B | $77.0M | ||
| Q2 24 | $8.2B | $76.3M | ||
| Q1 24 | $7.4B | $75.5M |
| 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 | $5.6M |
| Free Cash FlowOCF − Capex | $125.9M | $5.5M |
| FCF MarginFCF / Revenue | 291.6% | 18.0% |
| Capex IntensityCapex / Revenue | 18.9% | 0.5% |
| Cash ConversionOCF / Net Profit | 2.50× | 6.25× |
| TTM Free Cash FlowTrailing 4 quarters | — | $2.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $134.0M | $5.6M | ||
| Q3 25 | $6.9M | $-92.0K | ||
| Q2 25 | $39.2M | $157.0K | ||
| Q1 25 | $25.8M | $-2.9M | ||
| Q4 24 | $14.1M | $793.0K | ||
| Q3 24 | $-922.0K | $-1.6M | ||
| Q2 24 | $-993.0K | $-4.3M | ||
| Q1 24 | $-13.1M | $2.8M |
| Q4 25 | $125.9M | $5.5M | ||
| Q3 25 | — | $-242.0K | ||
| Q2 25 | — | $58.0K | ||
| Q1 25 | — | $-3.2M | ||
| Q4 24 | $-10.6M | $503.0K | ||
| Q3 24 | $-8.6M | $-1.6M | ||
| Q2 24 | $-8.6M | $-4.6M | ||
| Q1 24 | $-19.1M | $2.1M |
| Q4 25 | 291.6% | 18.0% | ||
| Q3 25 | — | -0.8% | ||
| Q2 25 | — | 0.2% | ||
| Q1 25 | — | -11.9% | ||
| Q4 24 | -39.6% | 1.8% | ||
| Q3 24 | -42.3% | -5.2% | ||
| Q2 24 | -44.9% | -13.5% | ||
| Q1 24 | -107.0% | 6.1% |
| Q4 25 | 18.9% | 0.5% | ||
| Q3 25 | — | 0.5% | ||
| Q2 25 | — | 0.3% | ||
| Q1 25 | — | 1.0% | ||
| Q4 24 | 92.3% | 1.0% | ||
| Q3 24 | 37.7% | 0.1% | ||
| Q2 24 | 39.7% | 0.8% | ||
| Q1 24 | 33.5% | 2.2% |
| Q4 25 | 2.50× | 6.25× | ||
| Q3 25 | 0.15× | — | ||
| Q2 25 | 4.59× | 0.50× | ||
| Q1 25 | 0.61× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -0.02× | — | ||
| Q2 24 | — | -27.30× | ||
| Q1 24 | — | 3.70× |
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% |
NSYS
| Medical Imaging | $11.4M | 37% |
| Medical Device | $8.0M | 26% |
| Industrial | $7.3M | 24% |
| Aerospace And Defense | $3.7M | 12% |
