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Side-by-side financial comparison of ADAMAS TRUST, INC. (ADAM) and Orchid Island Capital, Inc. (ORC). Click either name above to swap in a different company.
ADAMAS TRUST, INC. is the larger business by last-quarter revenue ($43.2M vs $38.5M, roughly 1.1× Orchid Island Capital, Inc.). Orchid Island Capital, Inc. runs the higher net margin — 268.7% vs 124.0%, a 144.7% gap on every dollar of revenue. On growth, Orchid Island Capital, Inc. posted the faster year-over-year revenue change (372.6% vs 61.6%). Over the past eight quarters, Orchid Island Capital, Inc.'s revenue compounded faster (301.6% CAGR vs 55.5%).
Orchid Island Capital, Inc. is a U.S.-based specialty finance company operating as a real estate investment trust. It primarily invests in residential mortgage-backed securities, including agency and non-agency products, targeting consistent risk-adjusted returns for its investors across U.S. fixed income markets.
ADAM vs ORC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $43.2M | $38.5M |
| Net Profit | $53.5M | $103.4M |
| Gross Margin | — | — |
| Operating Margin | — | — |
| Net Margin | 124.0% | 268.7% |
| Revenue YoY | 61.6% | 372.6% |
| Net Profit YoY | 270.5% | 1764.9% |
| EPS (diluted) | $0.45 | — |
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 | $38.5M | ||
| Q3 25 | $36.6M | $26.9M | ||
| Q2 25 | $36.4M | $23.2M | ||
| Q1 25 | $33.1M | $19.7M | ||
| Q4 24 | $26.7M | — | ||
| Q3 24 | $20.2M | $340.0K | ||
| Q2 24 | $19.0M | $-697.0K | ||
| Q1 24 | $17.9M | $-2.5M |
| Q4 25 | $53.5M | $103.4M | ||
| Q3 25 | $44.8M | $72.1M | ||
| Q2 25 | $8.5M | $-33.6M | ||
| Q1 25 | $42.2M | $17.1M | ||
| Q4 24 | $-31.4M | — | ||
| Q3 24 | $42.8M | $17.3M | ||
| Q2 24 | $-15.6M | $-5.0M | ||
| Q1 24 | $-57.9M | $19.8M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 11.7% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -119.0% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | -124.7% | — | ||
| Q1 24 | -448.8% | — |
| Q4 25 | 124.0% | 268.7% | ||
| Q3 25 | 122.5% | 267.8% | ||
| Q2 25 | 23.4% | -145.0% | ||
| Q1 25 | 127.4% | 86.9% | ||
| Q4 24 | -117.5% | — | ||
| Q3 24 | 211.7% | 5094.1% | ||
| Q2 24 | -81.9% | 714.3% | ||
| Q1 24 | -324.1% | -794.2% |
| Q4 25 | $0.45 | — | ||
| Q3 25 | $0.36 | — | ||
| Q2 25 | $-0.04 | — | ||
| Q1 25 | $0.33 | — | ||
| Q4 24 | $-0.46 | — | ||
| Q3 24 | $0.36 | — | ||
| Q2 24 | $-0.29 | — | ||
| Q1 24 | $-0.75 | — |
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 | $665.9M |
| Total DebtLower is stronger | $735.8M | — |
| Stockholders' EquityBook value | $1.4B | $1.4B |
| Total Assets | $12.6B | $11.7B |
| Debt / EquityLower = less leverage | 0.52× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $210.3M | $665.9M | ||
| Q3 25 | $185.3M | $583.9M | ||
| Q2 25 | $160.4M | $440.8M | ||
| Q1 25 | $177.1M | $396.4M | ||
| Q4 24 | $167.4M | — | ||
| Q3 24 | $195.1M | $322.1M | ||
| Q2 24 | $235.5M | $241.0M | ||
| Q1 24 | $226.9M | $190.4M |
| 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 | $1.4B | ||
| Q3 25 | $1.4B | $1.1B | ||
| Q2 25 | $1.4B | $912.0M | ||
| Q1 25 | $1.4B | $855.9M | ||
| Q4 24 | $1.4B | — | ||
| Q3 24 | $1.4B | $656.0M | ||
| Q2 24 | $1.4B | $555.9M | ||
| Q1 24 | $1.5B | $481.6M |
| Q4 25 | $12.6B | $11.7B | ||
| Q3 25 | $12.4B | $9.1B | ||
| Q2 25 | $10.6B | $7.6B | ||
| Q1 25 | $10.0B | $7.3B | ||
| Q4 24 | $9.2B | — | ||
| Q3 24 | $8.9B | $5.9B | ||
| Q2 24 | $8.2B | $4.9B | ||
| Q1 24 | $7.4B | $4.2B |
| 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 | $120.4M |
| Free Cash FlowOCF − Capex | $125.9M | — |
| FCF MarginFCF / Revenue | 291.6% | — |
| Capex IntensityCapex / Revenue | 18.9% | — |
| Cash ConversionOCF / Net Profit | 2.50× | 1.16× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $134.0M | $120.4M | ||
| Q3 25 | $6.9M | $28.0M | ||
| Q2 25 | $39.2M | $18.4M | ||
| Q1 25 | $25.8M | $25.8M | ||
| Q4 24 | $14.1M | — | ||
| Q3 24 | $-922.0K | $-14.8M | ||
| Q2 24 | $-993.0K | $19.3M | ||
| Q1 24 | $-13.1M | $45.0M |
| 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× | 1.16× | ||
| Q3 25 | 0.15× | 0.39× | ||
| Q2 25 | 4.59× | — | ||
| Q1 25 | 0.61× | 1.51× | ||
| Q4 24 | — | — | ||
| Q3 24 | -0.02× | -0.86× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 2.28× |
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% |
ORC
Segment breakdown not available.
