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ADAMAS TRUST, INC.（ADAM）与ASURE SOFTWARE INC（ASUR）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ASURE SOFTWARE INC的1.2倍（$43.2M vs $36.3M），ADAMAS TRUST, INC.净利率更高（124.0% vs -14.8%，领先138.8%），ADAMAS TRUST, INC.同比增速更快（61.6% vs 23.7%），ADAMAS TRUST, INC.自由现金流更多（$125.9M vs $5.7M），过去两年ADAMAS TRUST, INC.的营收复合增速更高（55.5% vs 11.2%）
Asure Software是一家软件企业，其前身为Forgent Networks，2007年9月完成品牌更名后，业务逐渐拓展至人力资本管理领域，为客户提供薪资发放、考勤管理、人才管理、人力资源管理、福利管理以及保险相关服务等解决方案。
ADAM vs ASUR — 直观对比
营收规模更大
ADAM
是对方的1.2倍
$36.3M
营收增速更快
ADAM
高出37.9%
23.7%
净利率更高
ADAM
高出138.8%
-14.8%
自由现金流更多
ADAM
多$120.2M
$5.7M
两年增速更快
ADAM
近两年复合增速
11.2%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $43.2M | $36.3M |
| 净利润 | $53.5M | $-5.4M |
| 毛利率 | — | 63.8% |
| 营业利润率 | — | -9.7% |
| 净利率 | 124.0% | -14.8% |
| 营收同比 | 61.6% | 23.7% |
| 净利润同比 | 270.5% | -37.5% |
| 每股收益（稀释后） | $0.45 | $-0.19 |
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ADAMASUR
| Q4 25 | $43.2M | — | ||
| Q3 25 | $36.6M | $36.3M | ||
| Q2 25 | $36.4M | $30.1M | ||
| Q1 25 | $33.1M | $34.9M | ||
| Q4 24 | $26.7M | — | ||
| Q3 24 | $20.2M | $29.3M | ||
| Q2 24 | $19.0M | $28.0M | ||
| Q1 24 | $17.9M | $31.7M |
净利润ADAMASUR
| Q4 25 | $53.5M | — | ||
| Q3 25 | $44.8M | $-5.4M | ||
| Q2 25 | $8.5M | $-6.1M | ||
| Q1 25 | $42.2M | $-2.4M | ||
| Q4 24 | $-31.4M | — | ||
| Q3 24 | $42.8M | $-3.9M | ||
| Q2 24 | $-15.6M | $-4.4M | ||
| Q1 24 | $-57.9M | $-308.0K |
毛利率ADAMASUR
| Q4 25 | — | — | ||
| Q3 25 | — | 63.8% | ||
| Q2 25 | — | 66.1% | ||
| Q1 25 | — | 70.6% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 67.2% | ||
| Q2 24 | — | 67.3% | ||
| Q1 24 | — | 71.4% |
营业利润率ADAMASUR
| Q4 25 | — | — | ||
| Q3 25 | — | -9.7% | ||
| Q2 25 | 11.7% | -15.4% | ||
| Q1 25 | — | -5.8% | ||
| Q4 24 | -119.0% | — | ||
| Q3 24 | — | -12.4% | ||
| Q2 24 | -124.7% | -14.9% | ||
| Q1 24 | -448.8% | -1.4% |
净利率ADAMASUR
| Q4 25 | 124.0% | — | ||
| Q3 25 | 122.5% | -14.8% | ||
| Q2 25 | 23.4% | -20.3% | ||
| Q1 25 | 127.4% | -6.9% | ||
| Q4 24 | -117.5% | — | ||
| Q3 24 | 211.7% | -13.3% | ||
| Q2 24 | -81.9% | -15.5% | ||
| Q1 24 | -324.1% | -1.0% |
每股收益（稀释后）ADAMASUR
| Q4 25 | $0.45 | — | ||
| Q3 25 | $0.36 | $-0.19 | ||
| Q2 25 | $-0.04 | $-0.22 | ||
| Q1 25 | $0.33 | $-0.09 | ||
| Q4 24 | $-0.46 | — | ||
| Q3 24 | $0.36 | $-0.15 | ||
| Q2 24 | $-0.29 | $-0.17 | ||
| Q1 24 | $-0.75 | $-0.01 |
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 | $21.5M |
| 总债务越低越好 | $735.8M | $70.4M |
| 股东权益账面价值 | $1.4B | $193.1M |
| 总资产 | $12.6B | $447.1M |
| 负债/权益比越低杠杆越低 | 0.52× | 0.36× |
8季度趋势，按日历期对齐
现金及短期投资ADAMASUR
| Q4 25 | $210.3M | — | ||
| Q3 25 | $185.3M | $21.5M | ||
| Q2 25 | $160.4M | $66.0M | ||
| Q1 25 | $177.1M | $14.1M | ||
| Q4 24 | $167.4M | — | ||
| Q3 24 | $195.1M | $11.2M | ||
| Q2 24 | $235.5M | $20.7M | ||
| Q1 24 | $226.9M | $23.2M |
总债务ADAMASUR
| Q4 25 | $735.8M | — | ||
| Q3 25 | $766.6M | $70.4M | ||
| Q2 25 | $653.0M | $67.4M | ||
| Q1 25 | $654.4M | $14.1M | ||
| Q4 24 | $573.2M | — | ||
| Q3 24 | $699.4M | $7.5M | ||
| Q2 24 | $800.7M | $6.0M | ||
| Q1 24 | $1.0B | $5.3M |
股东权益ADAMASUR
| Q4 25 | $1.4B | — | ||
| Q3 25 | $1.4B | $193.1M | ||
| Q2 25 | $1.4B | $194.3M | ||
| Q1 25 | $1.4B | $197.7M | ||
| Q4 24 | $1.4B | — | ||
| Q3 24 | $1.4B | $199.2M | ||
| Q2 24 | $1.4B | $195.5M | ||
| Q1 24 | $1.5B | $197.7M |
总资产ADAMASUR
| Q4 25 | $12.6B | — | ||
| Q3 25 | $12.4B | $447.1M | ||
| Q2 25 | $10.6B | $505.6M | ||
| Q1 25 | $10.0B | $498.9M | ||
| Q4 24 | $9.2B | — | ||
| Q3 24 | $8.9B | $428.1M | ||
| Q2 24 | $8.2B | $420.1M | ||
| Q1 24 | $7.4B | $469.3M |
负债/权益比ADAMASUR
| Q4 25 | 0.52× | — | ||
| Q3 25 | 0.55× | 0.36× | ||
| Q2 25 | 0.47× | 0.35× | ||
| Q1 25 | 0.47× | 0.07× | ||
| Q4 24 | 0.41× | — | ||
| Q3 24 | 0.48× | 0.04× | ||
| Q2 24 | 0.56× | 0.03× | ||
| Q1 24 | 0.67× | 0.03× |
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 | $134.0M | $5.8M |
| 自由现金流经营现金流 - 资本支出 | $125.9M | $5.7M |
| 自由现金流率自由现金流/营收 | 291.6% | 15.6% |
| 资本支出强度资本支出/营收 | 18.9% | 0.3% |
| 现金转化率经营现金流/净利润 | 2.50× | — |
| 过去12个月自由现金流最近4个季度 | — | $11.6M |
8季度趋势，按日历期对齐
经营现金流ADAMASUR
| Q4 25 | $134.0M | — | ||
| Q3 25 | $6.9M | $5.8M | ||
| Q2 25 | $39.2M | $3.2M | ||
| Q1 25 | $25.8M | $2.0M | ||
| Q4 24 | $14.1M | — | ||
| Q3 24 | $-922.0K | $1.3M | ||
| Q2 24 | $-993.0K | $2.2M | ||
| Q1 24 | $-13.1M | $-3.9M |
自由现金流ADAMASUR
| Q4 25 | $125.9M | — | ||
| Q3 25 | — | $5.7M | ||
| Q2 25 | — | $3.0M | ||
| Q1 25 | — | $1.8M | ||
| Q4 24 | $-10.6M | — | ||
| Q3 24 | $-8.6M | $1.2M | ||
| Q2 24 | $-8.6M | $2.1M | ||
| Q1 24 | $-19.1M | $-4.2M |
自由现金流率ADAMASUR
| Q4 25 | 291.6% | — | ||
| Q3 25 | — | 15.6% | ||
| Q2 25 | — | 9.8% | ||
| Q1 25 | — | 5.2% | ||
| Q4 24 | -39.6% | — | ||
| Q3 24 | -42.3% | 3.9% | ||
| Q2 24 | -44.9% | 7.5% | ||
| Q1 24 | -107.0% | -13.2% |
资本支出强度ADAMASUR
| Q4 25 | 18.9% | — | ||
| Q3 25 | — | 0.3% | ||
| Q2 25 | — | 0.7% | ||
| Q1 25 | — | 0.6% | ||
| Q4 24 | 92.3% | — | ||
| Q3 24 | 37.7% | 0.6% | ||
| Q2 24 | 39.7% | 0.5% | ||
| Q1 24 | 33.5% | 0.8% |
现金转化率ADAMASUR
| 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 | — | — |
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% |
ASUR
| Recurring | $31.8M | 88% |
| Lathem Time | $4.6M | 13% |
