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Side-by-side financial comparison of ADAMAS TRUST, INC. (ADAM) and SmartRent, Inc. (SMRT). Click either name above to swap in a different company.
ADAMAS TRUST, INC. is the larger business by last-quarter revenue ($43.2M vs $36.5M, roughly 1.2× SmartRent, Inc.). ADAMAS TRUST, INC. runs the higher net margin — 124.0% vs -8.9%, a 132.9% gap on every dollar of revenue. On growth, ADAMAS TRUST, INC. posted the faster year-over-year revenue change (61.6% vs 3.1%). ADAMAS TRUST, INC. produced more free cash flow last quarter ($125.9M vs $7.7M). Over the past eight quarters, ADAMAS TRUST, INC.'s revenue compounded faster (55.5% CAGR vs -15.0%).
Budget Rent a Car System, Inc. is an American car rental company that was founded in 1958 in Los Angeles, California by Morris Mirkin. Budget is a subsidiary of the Avis Budget Group, with its operations headquartered in Parsippany, New Jersey.
ADAM vs SMRT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $43.2M | $36.5M |
| Net Profit | $53.5M | $-3.2M |
| Gross Margin | — | 38.6% |
| Operating Margin | — | -10.9% |
| Net Margin | 124.0% | -8.9% |
| Revenue YoY | 61.6% | 3.1% |
| Net Profit YoY | 270.5% | 71.6% |
| EPS (diluted) | $0.45 | $-0.02 |
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 | $36.5M | ||
| Q3 25 | $36.6M | $36.2M | ||
| Q2 25 | $36.4M | $38.3M | ||
| Q1 25 | $33.1M | $41.3M | ||
| Q4 24 | $26.7M | $35.4M | ||
| Q3 24 | $20.2M | $40.5M | ||
| Q2 24 | $19.0M | $48.5M | ||
| Q1 24 | $17.9M | $50.5M |
| Q4 25 | $53.5M | $-3.2M | ||
| Q3 25 | $44.8M | $-6.3M | ||
| Q2 25 | $8.5M | $-10.9M | ||
| Q1 25 | $42.2M | $-40.2M | ||
| Q4 24 | $-31.4M | $-11.4M | ||
| Q3 24 | $42.8M | $-9.9M | ||
| Q2 24 | $-15.6M | $-4.6M | ||
| Q1 24 | $-57.9M | $-7.7M |
| Q4 25 | — | 38.6% | ||
| Q3 25 | — | 26.4% | ||
| Q2 25 | — | 33.1% | ||
| Q1 25 | — | 32.8% | ||
| Q4 24 | — | 28.7% | ||
| Q3 24 | — | 33.2% | ||
| Q2 24 | — | 35.7% | ||
| Q1 24 | — | 38.5% |
| Q4 25 | — | -10.9% | ||
| Q3 25 | — | -19.4% | ||
| Q2 25 | 11.7% | -30.5% | ||
| Q1 25 | — | -99.9% | ||
| Q4 24 | -119.0% | -36.6% | ||
| Q3 24 | — | -29.0% | ||
| Q2 24 | -124.7% | -14.3% | ||
| Q1 24 | -448.8% | -20.1% |
| Q4 25 | 124.0% | -8.9% | ||
| Q3 25 | 122.5% | -17.3% | ||
| Q2 25 | 23.4% | -28.3% | ||
| Q1 25 | 127.4% | -97.2% | ||
| Q4 24 | -117.5% | -32.3% | ||
| Q3 24 | 211.7% | -24.5% | ||
| Q2 24 | -81.9% | -9.5% | ||
| Q1 24 | -324.1% | -15.2% |
| Q4 25 | $0.45 | $-0.02 | ||
| Q3 25 | $0.36 | $-0.03 | ||
| Q2 25 | $-0.04 | $-0.06 | ||
| Q1 25 | $0.33 | $-0.21 | ||
| Q4 24 | $-0.46 | $-0.06 | ||
| Q3 24 | $0.36 | $-0.05 | ||
| Q2 24 | $-0.29 | $-0.02 | ||
| Q1 24 | $-0.75 | $-0.04 |
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 | $104.5M |
| Total DebtLower is stronger | $735.8M | — |
| Stockholders' EquityBook value | $1.4B | $232.1M |
| Total Assets | $12.6B | $320.9M |
| Debt / EquityLower = less leverage | 0.52× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $210.3M | $104.5M | ||
| Q3 25 | $185.3M | $100.0M | ||
| Q2 25 | $160.4M | $105.0M | ||
| Q1 25 | $177.1M | $125.6M | ||
| Q4 24 | $167.4M | $142.5M | ||
| Q3 24 | $195.1M | $163.4M | ||
| Q2 24 | $235.5M | $187.4M | ||
| Q1 24 | $226.9M | $204.7M |
| 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 | $232.1M | ||
| Q3 25 | $1.4B | $234.4M | ||
| Q2 25 | $1.4B | $238.8M | ||
| Q1 25 | $1.4B | $250.7M | ||
| Q4 24 | $1.4B | $289.4M | ||
| Q3 24 | $1.4B | $305.1M | ||
| Q2 24 | $1.4B | $329.4M | ||
| Q1 24 | $1.5B | $333.1M |
| Q4 25 | $12.6B | $320.9M | ||
| Q3 25 | $12.4B | $335.8M | ||
| Q2 25 | $10.6B | $354.0M | ||
| Q1 25 | $10.0B | $366.1M | ||
| Q4 24 | $9.2B | $420.2M | ||
| Q3 24 | $8.9B | $448.6M | ||
| Q2 24 | $8.2B | $475.3M | ||
| Q1 24 | $7.4B | $485.5M |
| 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 | $7.7M |
| Free Cash FlowOCF − Capex | $125.9M | $7.7M |
| FCF MarginFCF / Revenue | 291.6% | 21.0% |
| Capex IntensityCapex / Revenue | 18.9% | 0.0% |
| Cash ConversionOCF / Net Profit | 2.50× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-25.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $134.0M | $7.7M | ||
| Q3 25 | $6.9M | $-2.1M | ||
| Q2 25 | $39.2M | $-14.9M | ||
| Q1 25 | $25.8M | $-12.2M | ||
| Q4 24 | $14.1M | $-12.0M | ||
| Q3 24 | $-922.0K | $-3.7M | ||
| Q2 24 | $-993.0K | $-13.9M | ||
| Q1 24 | $-13.1M | $-3.3M |
| Q4 25 | $125.9M | $7.7M | ||
| Q3 25 | — | $-2.2M | ||
| Q2 25 | — | $-16.2M | ||
| Q1 25 | — | $-14.3M | ||
| Q4 24 | $-10.6M | $-13.3M | ||
| Q3 24 | $-8.6M | $-3.9M | ||
| Q2 24 | $-8.6M | $-14.1M | ||
| Q1 24 | $-19.1M | $-3.4M |
| Q4 25 | 291.6% | 21.0% | ||
| Q3 25 | — | -6.1% | ||
| Q2 25 | — | -42.3% | ||
| Q1 25 | — | -34.7% | ||
| Q4 24 | -39.6% | -37.5% | ||
| Q3 24 | -42.3% | -9.7% | ||
| Q2 24 | -44.9% | -29.1% | ||
| Q1 24 | -107.0% | -6.7% |
| Q4 25 | 18.9% | 0.0% | ||
| Q3 25 | — | 0.2% | ||
| Q2 25 | — | 3.3% | ||
| Q1 25 | — | 5.3% | ||
| Q4 24 | 92.3% | 3.5% | ||
| Q3 24 | 37.7% | 0.6% | ||
| Q2 24 | 39.7% | 0.5% | ||
| Q1 24 | 33.5% | 0.1% |
| Q4 25 | 2.50× | — | ||
| Q3 25 | 0.15× | — | ||
| Q2 25 | 4.59× | — | ||
| Q1 25 | 0.61× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -0.02× | — | ||
| Q2 24 | — | — | ||
| 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% |
SMRT
| Hosted Services | $18.1M | 50% |
| Hardware Service | $12.5M | 34% |
| Smart Operations Solutions | $2.6M | 7% |
| Access Control | $2.0M | 5% |
| Other Smart Communities Solutions | $1.3M | 3% |
