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Side-by-side financial comparison of ADAMAS TRUST, INC. (ADAM) and VINCE HOLDING CORP. (VNCE). Click either name above to swap in a different company.
VINCE HOLDING CORP. is the larger business by last-quarter revenue ($85.1M vs $43.2M, roughly 2.0× ADAMAS TRUST, INC.). ADAMAS TRUST, INC. runs the higher net margin — 124.0% vs 3.2%, a 120.8% gap on every dollar of revenue. On growth, ADAMAS TRUST, INC. posted the faster year-over-year revenue change (61.6% vs 6.2%). ADAMAS TRUST, INC. produced more free cash flow last quarter ($125.9M vs $-5.7M). Over the past eight quarters, ADAMAS TRUST, INC.'s revenue compounded faster (55.5% CAGR vs 6.3%).
VINCE. is a contemporary clothing fashion brand founded in 2002. In 2023 Authentic Brands Group purchased its intellectual property in a $76.5 million deal.
ADAM vs VNCE — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $43.2M | $85.1M |
| Net Profit | $53.5M | $2.7M |
| Gross Margin | — | 49.2% |
| Operating Margin | — | 6.4% |
| Net Margin | 124.0% | 3.2% |
| Revenue YoY | 61.6% | 6.2% |
| Net Profit YoY | 270.5% | -37.3% |
| EPS (diluted) | $0.45 | $0.21 |
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 | $85.1M | ||
| Q3 25 | $36.6M | $73.2M | ||
| Q2 25 | $36.4M | $57.9M | ||
| Q1 25 | $33.1M | $80.0M | ||
| Q4 24 | $26.7M | $80.2M | ||
| Q3 24 | $20.2M | $74.2M | ||
| Q2 24 | $19.0M | $59.2M | ||
| Q1 24 | $17.9M | $75.3M |
| Q4 25 | $53.5M | $2.7M | ||
| Q3 25 | $44.8M | $12.1M | ||
| Q2 25 | $8.5M | $-4.8M | ||
| Q1 25 | $42.2M | $-28.3M | ||
| Q4 24 | $-31.4M | $4.3M | ||
| Q3 24 | $42.8M | $569.0K | ||
| Q2 24 | $-15.6M | $4.4M | ||
| Q1 24 | $-57.9M | $-4.7M |
| Q4 25 | — | 49.2% | ||
| Q3 25 | — | 50.4% | ||
| Q2 25 | — | 50.3% | ||
| Q1 25 | — | 50.1% | ||
| Q4 24 | — | 50.0% | ||
| Q3 24 | — | 47.4% | ||
| Q2 24 | — | 50.6% | ||
| Q1 24 | — | 45.4% |
| Q4 25 | — | 6.4% | ||
| Q3 25 | — | 15.2% | ||
| Q2 25 | 11.7% | -7.7% | ||
| Q1 25 | — | -37.1% | ||
| Q4 24 | -119.0% | 7.2% | ||
| Q3 24 | — | 1.5% | ||
| Q2 24 | -124.7% | 9.5% | ||
| Q1 24 | -448.8% | -2.2% |
| Q4 25 | 124.0% | 3.2% | ||
| Q3 25 | 122.5% | 16.5% | ||
| Q2 25 | 23.4% | -8.3% | ||
| Q1 25 | 127.4% | -35.5% | ||
| Q4 24 | -117.5% | 5.4% | ||
| Q3 24 | 211.7% | 0.8% | ||
| Q2 24 | -81.9% | 7.4% | ||
| Q1 24 | -324.1% | -6.2% |
| Q4 25 | $0.45 | $0.21 | ||
| Q3 25 | $0.36 | $0.93 | ||
| Q2 25 | $-0.04 | $-0.37 | ||
| Q1 25 | $0.33 | $-2.25 | ||
| Q4 24 | $-0.46 | $0.34 | ||
| Q3 24 | $0.36 | $0.05 | ||
| Q2 24 | $-0.29 | $0.35 | ||
| Q1 24 | $-0.75 | $-0.37 |
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 | $1.1M |
| Total DebtLower is stronger | $735.8M | — |
| Stockholders' EquityBook value | $1.4B | $53.4M |
| Total Assets | $12.6B | $246.0M |
| Debt / EquityLower = less leverage | 0.52× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $210.3M | $1.1M | ||
| Q3 25 | $185.3M | $777.0K | ||
| Q2 25 | $160.4M | $2.6M | ||
| Q1 25 | $177.1M | $607.0K | ||
| Q4 24 | $167.4M | $892.0K | ||
| Q3 24 | $195.1M | $711.0K | ||
| Q2 24 | $235.5M | $739.0K | ||
| Q1 24 | $226.9M | $357.0K |
| 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 | $53.4M | ||
| Q3 25 | $1.4B | $49.3M | ||
| Q2 25 | $1.4B | $37.2M | ||
| Q1 25 | $1.4B | $41.8M | ||
| Q4 24 | $1.4B | $57.1M | ||
| Q3 24 | $1.4B | $52.4M | ||
| Q2 24 | $1.4B | $51.7M | ||
| Q1 24 | $1.5B | $47.2M |
| Q4 25 | $12.6B | $246.0M | ||
| Q3 25 | $12.4B | $239.0M | ||
| Q2 25 | $10.6B | $218.0M | ||
| Q1 25 | $10.0B | $222.7M | ||
| Q4 24 | $9.2B | $254.7M | ||
| Q3 24 | $8.9B | $253.6M | ||
| Q2 24 | $8.2B | $223.1M | ||
| Q1 24 | $7.4B | $225.1M |
| 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 | $-5.1M |
| Free Cash FlowOCF − Capex | $125.9M | $-5.7M |
| FCF MarginFCF / Revenue | 291.6% | -6.7% |
| Capex IntensityCapex / Revenue | 18.9% | 0.7% |
| Cash ConversionOCF / Net Profit | 2.50× | -1.86× |
| TTM Free Cash FlowTrailing 4 quarters | — | $4.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $134.0M | $-5.1M | ||
| Q3 25 | $6.9M | $4.2M | ||
| Q2 25 | $39.2M | $-11.8M | ||
| Q1 25 | $25.8M | $22.7M | ||
| Q4 24 | $14.1M | $6.4M | ||
| Q3 24 | $-922.0K | $-3.2M | ||
| Q2 24 | $-993.0K | $-3.9M | ||
| Q1 24 | $-13.1M | $14.8M |
| Q4 25 | $125.9M | $-5.7M | ||
| Q3 25 | — | $2.1M | ||
| Q2 25 | — | $-13.2M | ||
| Q1 25 | — | $21.2M | ||
| Q4 24 | $-10.6M | $5.1M | ||
| Q3 24 | $-8.6M | $-3.9M | ||
| Q2 24 | $-8.6M | $-4.6M | ||
| Q1 24 | $-19.1M | $14.2M |
| Q4 25 | 291.6% | -6.7% | ||
| Q3 25 | — | 2.9% | ||
| Q2 25 | — | -22.9% | ||
| Q1 25 | — | 26.5% | ||
| Q4 24 | -39.6% | 6.4% | ||
| Q3 24 | -42.3% | -5.2% | ||
| Q2 24 | -44.9% | -7.8% | ||
| Q1 24 | -107.0% | 18.9% |
| Q4 25 | 18.9% | 0.7% | ||
| Q3 25 | — | 2.9% | ||
| Q2 25 | — | 2.5% | ||
| Q1 25 | — | 1.9% | ||
| Q4 24 | 92.3% | 1.6% | ||
| Q3 24 | 37.7% | 0.9% | ||
| Q2 24 | 39.7% | 1.3% | ||
| Q1 24 | 33.5% | 0.7% |
| Q4 25 | 2.50× | -1.86× | ||
| Q3 25 | 0.15× | 0.35× | ||
| Q2 25 | 4.59× | — | ||
| Q1 25 | 0.61× | — | ||
| Q4 24 | — | 1.48× | ||
| Q3 24 | -0.02× | -5.61× | ||
| Q2 24 | — | -0.89× | ||
| 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% |
VNCE
| Vince Wholesale | $52.0M | 61% |
| Vince Direct To Consumer | $33.1M | 39% |
