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ADAMAS TRUST, INC.（ADAM）与American Healthcare REIT, Inc.（AHR）财务数据对比。点击上方公司名可切换其他公司
American Healthcare REIT, Inc.的季度营收约是ADAMAS TRUST, INC.的13.1倍（$564.0M vs $43.2M）。ADAMAS TRUST, INC.净利率更高（124.0% vs 1.9%，领先122.1%）。ADAMAS TRUST, INC.同比增速更快（61.6% vs 13.5%）。过去两年ADAMAS TRUST, INC.的营收复合增速更高（55.5% vs 11.7%）
本公司是一家国际医疗房地产投资信托基金（REIT），总部位于美国阿拉巴马州伯明翰，主要在美国及欧洲地区收购、投资医疗机构与营利性医疗控股企业，物业收购多采用售后回租模式，租户通常签署长期三净租约。
ADAM vs AHR — 直观对比
营收规模更大
AHR
是对方的13.1倍
$43.2M
营收增速更快
ADAM
高出48.1%
13.5%
净利率更高
ADAM
高出122.1%
1.9%
两年增速更快
ADAM
近两年复合增速
11.7%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $43.2M | $564.0M |
| 净利润 | $53.5M | $10.8M |
| 毛利率 | — | 14.8% |
| 营业利润率 | — | 19.8% |
| 净利率 | 124.0% | 1.9% |
| 营收同比 | 61.6% | 13.5% |
| 净利润同比 | 270.5% | 133.9% |
| 每股收益（稀释后） | $0.45 | $0.07 |
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ADAMAHR
| Q4 25 | $43.2M | $564.0M | ||
| Q3 25 | $36.6M | $532.1M | ||
| Q2 25 | $36.4M | $501.3M | ||
| Q1 25 | $33.1M | $497.2M | ||
| Q4 24 | $26.7M | $496.8M | ||
| Q3 24 | $20.2M | $476.8M | ||
| Q2 24 | $19.0M | $458.0M | ||
| Q1 24 | $17.9M | $452.1M |
净利润ADAMAHR
| Q4 25 | $53.5M | $10.8M | ||
| Q3 25 | $44.8M | $55.9M | ||
| Q2 25 | $8.5M | $9.9M | ||
| Q1 25 | $42.2M | $-6.8M | ||
| Q4 24 | $-31.4M | $-31.8M | ||
| Q3 24 | $42.8M | $-4.1M | ||
| Q2 24 | $-15.6M | $2.0M | ||
| Q1 24 | $-57.9M | $-3.9M |
毛利率ADAMAHR
| Q4 25 | — | 14.8% | ||
| Q3 25 | — | 14.6% | ||
| Q2 25 | — | 15.0% | ||
| Q1 25 | — | 13.0% | ||
| Q4 24 | — | 13.3% | ||
| Q3 24 | — | 12.5% | ||
| Q2 24 | — | 12.1% | ||
| Q1 24 | — | 10.7% |
营业利润率ADAMAHR
| Q4 25 | — | 19.8% | ||
| Q3 25 | — | 19.9% | ||
| Q2 25 | 11.7% | 20.6% | ||
| Q1 25 | — | 19.0% | ||
| Q4 24 | -119.0% | 20.0% | ||
| Q3 24 | — | 19.6% | ||
| Q2 24 | -124.7% | 19.4% | ||
| Q1 24 | -448.8% | 18.2% |
净利率ADAMAHR
| Q4 25 | 124.0% | 1.9% | ||
| Q3 25 | 122.5% | 10.5% | ||
| Q2 25 | 23.4% | 2.0% | ||
| Q1 25 | 127.4% | -1.4% | ||
| Q4 24 | -117.5% | -6.4% | ||
| Q3 24 | 211.7% | -0.9% | ||
| Q2 24 | -81.9% | 0.4% | ||
| Q1 24 | -324.1% | -0.9% |
每股收益（稀释后）ADAMAHR
| Q4 25 | $0.45 | $0.07 | ||
| Q3 25 | $0.36 | $0.33 | ||
| Q2 25 | $-0.04 | $0.06 | ||
| Q1 25 | $0.33 | $-0.04 | ||
| Q4 24 | $-0.46 | $-0.23 | ||
| Q3 24 | $0.36 | $-0.03 | ||
| Q2 24 | $-0.29 | $0.01 | ||
| Q1 24 | $-0.75 | $-0.04 |
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 | $210.3M | $114.8M |
| 总债务越低越好 | $735.8M | — |
| 股东权益账面价值 | $1.4B | $3.3B |
| 总资产 | $12.6B | $5.4B |
| 负债/权益比越低杠杆越低 | 0.52× | — |
8季度趋势，按日历期对齐
现金及短期投资ADAMAHR
| Q4 25 | $210.3M | $114.8M | ||
| Q3 25 | $185.3M | $147.4M | ||
| Q2 25 | $160.4M | $133.5M | ||
| Q1 25 | $177.1M | $86.1M | ||
| Q4 24 | $167.4M | $76.7M | ||
| Q3 24 | $195.1M | $67.8M | ||
| Q2 24 | $235.5M | $52.1M | ||
| Q1 24 | $226.9M | $77.0M |
总债务ADAMAHR
| 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 | — |
股东权益ADAMAHR
| Q4 25 | $1.4B | $3.3B | ||
| Q3 25 | $1.4B | $2.7B | ||
| Q2 25 | $1.4B | $2.4B | ||
| Q1 25 | $1.4B | $2.3B | ||
| Q4 24 | $1.4B | $2.3B | ||
| Q3 24 | $1.4B | $2.2B | ||
| Q2 24 | $1.4B | $1.9B | ||
| Q1 24 | $1.5B | $2.0B |
总资产ADAMAHR
| Q4 25 | $12.6B | $5.4B | ||
| Q3 25 | $12.4B | $4.8B | ||
| Q2 25 | $10.6B | $4.5B | ||
| Q1 25 | $10.0B | $4.5B | ||
| Q4 24 | $9.2B | $4.5B | ||
| Q3 24 | $8.9B | $4.7B | ||
| Q2 24 | $8.2B | $4.6B | ||
| Q1 24 | $7.4B | $4.7B |
负债/权益比ADAMAHR
| 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× | — |
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 | $62.1M | $55.2M |
| 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× | 5.12× |
| 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ADAMAHR
| Q4 25 | $62.1M | $55.2M | ||
| Q3 25 | $6.9M | $107.2M | ||
| Q2 25 | $39.2M | $71.5M | ||
| Q1 25 | $25.8M | $60.6M | ||
| Q4 24 | $29.1M | $59.5M | ||
| Q3 24 | $-922.0K | $63.1M | ||
| Q2 24 | $-993.0K | $59.4M | ||
| Q1 24 | $-13.1M | $-6.0M |
自由现金流ADAMAHR
| 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ADAMAHR
| 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ADAMAHR
| 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ADAMAHR
| Q4 25 | 1.16× | 5.12× | ||
| Q3 25 | 0.15× | 1.92× | ||
| Q2 25 | 4.59× | 7.21× | ||
| Q1 25 | 0.61× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -0.02× | — | ||
| Q2 24 | — | 30.02× | ||
| 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
ADAM
| Other | $19.6M | 45% |
| Constructive Loans LLC | $14.4M | 33% |
| Multifamily | $9.1M | 21% |
AHR
| Integrated Senior Health Campuses | $467.0M | 83% |
| SHOP | $97.0M | 17% |
