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Ares Commercial Real Estate Corp（ACRE）与ADAMAS TRUST, INC.（ADAM）财务数据对比。点击上方公司名可切换其他公司
ADAMAS TRUST, INC.的季度营收约是Ares Commercial Real Estate Corp的3.3倍（$43.2M vs $13.2M）。ADAMAS TRUST, INC.净利率更高（124.0% vs -29.2%，领先153.2%）。ADAMAS TRUST, INC.同比增速更快（61.6% vs -24.5%）。过去两年ADAMAS TRUST, INC.的营收复合增速更高（55.5% vs -15.9%）
Ares Commercial Real Estate Corp是隶属于阿瑞斯管理集团的专业金融企业，专注于商业地产领域，提供优先抵押贷款、次级债务、优先股投资等各类定制化融资解决方案，主要服务覆盖美国全境的中型商业地产所有者及运营主体。
ACRE vs ADAM — 直观对比
营收规模更大
ADAM
是对方的3.3倍
$13.2M
营收增速更快
ADAM
高出86.1%
-24.5%
净利率更高
ADAM
高出153.2%
-29.2%
两年增速更快
ADAM
近两年复合增速
-15.9%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $13.2M | $43.2M |
| 净利润 | $-3.9M | $53.5M |
| 毛利率 | — | — |
| 营业利润率 | -29.2% | — |
| 净利率 | -29.2% | 124.0% |
| 营收同比 | -24.5% | 61.6% |
| 净利润同比 | 63.8% | 270.5% |
| 每股收益（稀释后） | — | $0.45 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收ACREADAM
| Q4 25 | $13.2M | $43.2M | ||
| Q3 25 | $14.1M | $36.6M | ||
| Q2 25 | $12.6M | $36.4M | ||
| Q1 25 | $14.9M | $33.1M | ||
| Q4 24 | $17.5M | $26.7M | ||
| Q3 24 | $16.7M | $20.2M | ||
| Q2 24 | $16.8M | $19.0M | ||
| Q1 24 | $18.7M | $17.9M |
净利润ACREADAM
| Q4 25 | $-3.9M | $53.5M | ||
| Q3 25 | $4.7M | $44.8M | ||
| Q2 25 | $-11.0M | $8.5M | ||
| Q1 25 | $9.3M | $42.2M | ||
| Q4 24 | $-10.7M | $-31.4M | ||
| Q3 24 | $-5.9M | $42.8M | ||
| Q2 24 | $-6.1M | $-15.6M | ||
| Q1 24 | $-12.3M | $-57.9M |
营业利润率ACREADAM
| Q4 25 | -29.2% | — | ||
| Q3 25 | 33.0% | — | ||
| Q2 25 | -87.8% | 11.7% | ||
| Q1 25 | 64.4% | — | ||
| Q4 24 | -61.0% | -119.0% | ||
| Q3 24 | -35.3% | — | ||
| Q2 24 | -36.5% | -124.7% | ||
| Q1 24 | -65.9% | -448.8% |
净利率ACREADAM
| Q4 25 | -29.2% | 124.0% | ||
| Q3 25 | 33.0% | 122.5% | ||
| Q2 25 | -87.8% | 23.4% | ||
| Q1 25 | 62.5% | 127.4% | ||
| Q4 24 | -60.9% | -117.5% | ||
| Q3 24 | -35.3% | 211.7% | ||
| Q2 24 | -36.5% | -81.9% | ||
| Q1 24 | -65.9% | -324.1% |
每股收益（稀释后）ACREADAM
| 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 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $29.3M | $210.3M |
| 总债务越低越好 | $948.2M | $735.8M |
| 股东权益账面价值 | $509.6M | $1.4B |
| 总资产 | $1.6B | $12.6B |
| 负债/权益比越低杠杆越低 | 1.86× | 0.52× |
8季度趋势，按日历期对齐
现金及短期投资ACREADAM
| Q4 25 | $29.3M | $210.3M | ||
| Q3 25 | $84.9M | $185.3M | ||
| Q2 25 | $90.0M | $160.4M | ||
| Q1 25 | $125.5M | $177.1M | ||
| Q4 24 | $63.8M | $167.4M | ||
| Q3 24 | $68.9M | $195.1M | ||
| Q2 24 | $70.6M | $235.5M | ||
| Q1 24 | $99.5M | $226.9M |
总债务ACREADAM
| Q4 25 | $948.2M | $735.8M | ||
| Q3 25 | — | $766.6M | ||
| Q2 25 | — | $653.0M | ||
| Q1 25 | — | $654.4M | ||
| Q4 24 | $718.5M | $573.2M | ||
| Q3 24 | — | $699.4M | ||
| Q2 24 | — | $800.7M | ||
| Q1 24 | — | $1.0B |
股东权益ACREADAM
| Q4 25 | $509.6M | $1.4B | ||
| Q3 25 | $521.0M | $1.4B | ||
| Q2 25 | $523.7M | $1.4B | ||
| Q1 25 | $542.1M | $1.4B | ||
| Q4 24 | $540.1M | $1.4B | ||
| Q3 24 | $563.8M | $1.4B | ||
| Q2 24 | $582.3M | $1.4B | ||
| Q1 24 | $601.1M | $1.5B |
总资产ACREADAM
| Q4 25 | $1.6B | $12.6B | ||
| Q3 25 | $1.4B | $12.4B | ||
| Q2 25 | $1.4B | $10.6B | ||
| Q1 25 | $1.5B | $10.0B | ||
| Q4 24 | $1.8B | $9.2B | ||
| Q3 24 | $1.9B | $8.9B | ||
| Q2 24 | $2.1B | $8.2B | ||
| Q1 24 | $2.1B | $7.4B |
负债/权益比ACREADAM
| Q4 25 | 1.86× | 0.52× | ||
| Q3 25 | — | 0.55× | ||
| Q2 25 | — | 0.47× | ||
| Q1 25 | — | 0.47× | ||
| Q4 24 | 1.33× | 0.41× | ||
| Q3 24 | — | 0.48× | ||
| Q2 24 | — | 0.56× | ||
| Q1 24 | — | 0.67× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $4.6M | $62.1M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | — | 1.16× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流ACREADAM
| Q4 25 | $4.6M | $62.1M | ||
| Q3 25 | $3.8M | $6.9M | ||
| Q2 25 | $4.9M | $39.2M | ||
| Q1 25 | $8.0M | $25.8M | ||
| Q4 24 | $7.1M | $29.1M | ||
| Q3 24 | $8.4M | $-922.0K | ||
| Q2 24 | $8.7M | $-993.0K | ||
| Q1 24 | $11.4M | $-13.1M |
自由现金流ACREADAM
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $25.7M | ||
| Q3 24 | — | $-8.6M | ||
| Q2 24 | — | $-8.6M | ||
| Q1 24 | — | $-19.1M |
自由现金流率ACREADAM
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 96.1% | ||
| Q3 24 | — | -42.3% | ||
| Q2 24 | — | -44.9% | ||
| Q1 24 | — | -107.0% |
资本支出强度ACREADAM
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 12.9% | ||
| Q3 24 | — | 37.7% | ||
| Q2 24 | — | 39.7% | ||
| Q1 24 | — | 33.5% |
现金转化率ACREADAM
| Q4 25 | — | 1.16× | ||
| Q3 25 | 0.82× | 0.15× | ||
| Q2 25 | — | 4.59× | ||
| Q1 25 | 0.86× | 0.61× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -0.02× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
ACRE
暂无分部数据
ADAM
| Other | $19.6M | 45% |
| Constructive Loans LLC | $14.4M | 33% |
| Multifamily | $9.1M | 21% |
