vs
Side-by-side financial comparison of ADAMAS TRUST, INC. (ADAM) and RE/MAX Holdings, Inc. (RMAX). Click either name above to swap in a different company.
RE/MAX Holdings, Inc. is the larger business by last-quarter revenue ($71.1M vs $43.2M, roughly 1.6× ADAMAS TRUST, INC.). ADAMAS TRUST, INC. runs the higher net margin — 124.0% vs 2.0%, a 122.0% gap on every dollar of revenue. On growth, ADAMAS TRUST, INC. posted the faster year-over-year revenue change (61.6% vs -1.8%). ADAMAS TRUST, INC. produced more free cash flow last quarter ($125.9M vs $33.5M). Over the past eight quarters, ADAMAS TRUST, INC.'s revenue compounded faster (55.5% CAGR vs -4.7%).
RE/MAX is an international real estate franchise operating in over 100 countries and territories that, in 2015, had over 100,000 agents in 6,800 offices.
ADAM vs RMAX — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $43.2M | $71.1M |
| Net Profit | $53.5M | $1.4M |
| Gross Margin | — | — |
| Operating Margin | — | 13.1% |
| Net Margin | 124.0% | 2.0% |
| Revenue YoY | 61.6% | -1.8% |
| Net Profit YoY | 270.5% | -75.2% |
| 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 | $71.1M | ||
| Q3 25 | $36.6M | $73.2M | ||
| Q2 25 | $36.4M | $72.8M | ||
| Q1 25 | $33.1M | $74.5M | ||
| Q4 24 | $26.7M | $72.5M | ||
| Q3 24 | $20.2M | $78.5M | ||
| Q2 24 | $19.0M | $78.5M | ||
| Q1 24 | $17.9M | $78.3M |
| Q4 25 | $53.5M | $1.4M | ||
| Q3 25 | $44.8M | $4.0M | ||
| Q2 25 | $8.5M | $4.7M | ||
| Q1 25 | $42.2M | $-2.0M | ||
| Q4 24 | $-31.4M | $5.8M | ||
| Q3 24 | $42.8M | $966.0K | ||
| Q2 24 | $-15.6M | $3.7M | ||
| Q1 24 | $-57.9M | $-3.4M |
| Q4 25 | — | 13.1% | ||
| Q3 25 | — | 25.0% | ||
| Q2 25 | 11.7% | 19.3% | ||
| Q1 25 | — | 7.2% | ||
| Q4 24 | -119.0% | 5.9% | ||
| Q3 24 | — | 19.4% | ||
| Q2 24 | -124.7% | 20.6% | ||
| Q1 24 | -448.8% | 5.8% |
| Q4 25 | 124.0% | 2.0% | ||
| Q3 25 | 122.5% | 5.4% | ||
| Q2 25 | 23.4% | 6.4% | ||
| Q1 25 | 127.4% | -2.6% | ||
| Q4 24 | -117.5% | 8.0% | ||
| Q3 24 | 211.7% | 1.2% | ||
| Q2 24 | -81.9% | 4.7% | ||
| Q1 24 | -324.1% | -4.3% |
| 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 | $118.7M |
| Total DebtLower is stronger | $735.8M | $432.2M |
| Stockholders' EquityBook value | $1.4B | $452.4M |
| Total Assets | $12.6B | $582.5M |
| Debt / EquityLower = less leverage | 0.52× | 0.96× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $210.3M | $118.7M | ||
| Q3 25 | $185.3M | $107.5M | ||
| Q2 25 | $160.4M | $94.3M | ||
| Q1 25 | $177.1M | $89.1M | ||
| Q4 24 | $167.4M | $96.6M | ||
| Q3 24 | $195.1M | $83.8M | ||
| Q2 24 | $235.5M | $66.1M | ||
| Q1 24 | $226.9M | $82.1M |
| Q4 25 | $735.8M | $432.2M | ||
| Q3 25 | $766.6M | $433.3M | ||
| Q2 25 | $653.0M | $434.4M | ||
| Q1 25 | $654.4M | $435.3M | ||
| Q4 24 | $573.2M | $436.2M | ||
| Q3 24 | $699.4M | $437.2M | ||
| Q2 24 | $800.7M | $438.1M | ||
| Q1 24 | $1.0B | $439.0M |
| Q4 25 | $1.4B | $452.4M | ||
| Q3 25 | $1.4B | $448.1M | ||
| Q2 25 | $1.4B | $442.4M | ||
| Q1 25 | $1.4B | $433.5M | ||
| Q4 24 | $1.4B | $429.5M | ||
| Q3 24 | $1.4B | $423.1M | ||
| Q2 24 | $1.4B | $418.4M | ||
| Q1 24 | $1.5B | $412.0M |
| Q4 25 | $12.6B | $582.5M | ||
| Q3 25 | $12.4B | $582.2M | ||
| Q2 25 | $10.6B | $574.8M | ||
| Q1 25 | $10.0B | $571.4M | ||
| Q4 24 | $9.2B | $581.6M | ||
| Q3 24 | $8.9B | $578.6M | ||
| Q2 24 | $8.2B | $571.4M | ||
| Q1 24 | $7.4B | $566.7M |
| Q4 25 | 0.52× | 0.96× | ||
| Q3 25 | 0.55× | 0.97× | ||
| Q2 25 | 0.47× | 0.98× | ||
| Q1 25 | 0.47× | 1.00× | ||
| Q4 24 | 0.41× | 1.02× | ||
| Q3 24 | 0.48× | 1.03× | ||
| Q2 24 | 0.56× | 1.05× | ||
| Q1 24 | 0.67× | 1.07× |
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 | $40.9M |
| Free Cash FlowOCF − Capex | $125.9M | $33.5M |
| FCF MarginFCF / Revenue | 291.6% | 47.1% |
| Capex IntensityCapex / Revenue | 18.9% | 10.4% |
| Cash ConversionOCF / Net Profit | 2.50× | 28.39× |
| TTM Free Cash FlowTrailing 4 quarters | — | $56.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $134.0M | $40.9M | ||
| Q3 25 | $6.9M | $17.7M | ||
| Q2 25 | $39.2M | $4.6M | ||
| Q1 25 | $25.8M | $5.7M | ||
| Q4 24 | $14.1M | $59.7M | ||
| Q3 24 | $-922.0K | $17.6M | ||
| Q2 24 | $-993.0K | $15.9M | ||
| Q1 24 | $-13.1M | $9.4M |
| Q4 25 | $125.9M | $33.5M | ||
| Q3 25 | — | $16.4M | ||
| Q2 25 | — | $2.9M | ||
| Q1 25 | — | $4.0M | ||
| Q4 24 | $-10.6M | $53.0M | ||
| Q3 24 | $-8.6M | $16.3M | ||
| Q2 24 | $-8.6M | $14.0M | ||
| Q1 24 | $-19.1M | $6.8M |
| Q4 25 | 291.6% | 47.1% | ||
| Q3 25 | — | 22.4% | ||
| Q2 25 | — | 4.0% | ||
| Q1 25 | — | 5.3% | ||
| Q4 24 | -39.6% | 73.2% | ||
| Q3 24 | -42.3% | 20.8% | ||
| Q2 24 | -44.9% | 17.8% | ||
| Q1 24 | -107.0% | 8.6% |
| Q4 25 | 18.9% | 10.4% | ||
| Q3 25 | — | 1.8% | ||
| Q2 25 | — | 2.2% | ||
| Q1 25 | — | 2.3% | ||
| Q4 24 | 92.3% | 9.1% | ||
| Q3 24 | 37.7% | 1.7% | ||
| Q2 24 | 39.7% | 2.4% | ||
| Q1 24 | 33.5% | 3.3% |
| Q4 25 | 2.50× | 28.39× | ||
| Q3 25 | 0.15× | 4.45× | ||
| Q2 25 | 4.59× | 0.97× | ||
| Q1 25 | 0.61× | — | ||
| Q4 24 | — | 10.28× | ||
| Q3 24 | -0.02× | 18.22× | ||
| Q2 24 | — | 4.29× | ||
| Q1 24 | — | — |
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% |
RMAX
| Franchising Segment | $50.1M | 70% |
| Broker Fees | $13.9M | 20% |
| Annual Dues | $7.4M | 10% |
