vs
ADAMAS TRUST, INC.（ADAM）与MP Materials Corp.（MP）财务数据对比。点击上方公司名可切换其他公司
MP Materials Corp.的季度营收约是ADAMAS TRUST, INC.的1.2倍（$52.7M vs $43.2M），ADAMAS TRUST, INC.净利率更高（124.0% vs 17.9%，领先106.1%），ADAMAS TRUST, INC.同比增速更快（61.6% vs -13.6%），ADAMAS TRUST, INC.自由现金流更多（$125.9M vs $-109.3M），过去两年ADAMAS TRUST, INC.的营收复合增速更高（55.5% vs 4.0%）
MP Materials Corp.是总部位于美国的稀土材料生产商，拥有并运营加利福尼亚州芒廷帕斯矿，这是西半球唯一在产的稀土开采及加工设施，所产核心材料可广泛应用于电动汽车、风力发电机、国防工业等多个关键领域。
ADAM vs MP — 直观对比
营收规模更大
MP
是对方的1.2倍
$43.2M
营收增速更快
ADAM
高出75.2%
-13.6%
净利率更高
ADAM
高出106.1%
17.9%
自由现金流更多
ADAM
多$235.1M
$-109.3M
两年增速更快
ADAM
近两年复合增速
4.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $43.2M | $52.7M |
| 净利润 | $53.5M | $9.4M |
| 毛利率 | — | — |
| 营业利润率 | — | -7.0% |
| 净利率 | 124.0% | 17.9% |
| 营收同比 | 61.6% | -13.6% |
| 净利润同比 | 270.5% | 142.2% |
| 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ADAMMP
| Q4 25 | $43.2M | $52.7M | ||
| Q3 25 | $36.6M | $53.6M | ||
| Q2 25 | $36.4M | $57.4M | ||
| Q1 25 | $33.1M | $60.8M | ||
| Q4 24 | $26.7M | $61.0M | ||
| Q3 24 | $20.2M | $62.9M | ||
| Q2 24 | $19.0M | $31.3M | ||
| Q1 24 | $17.9M | $48.7M |
净利润ADAMMP
| Q4 25 | $53.5M | $9.4M | ||
| Q3 25 | $44.8M | $-41.8M | ||
| Q2 25 | $8.5M | $-30.9M | ||
| Q1 25 | $42.2M | $-22.6M | ||
| Q4 24 | $-31.4M | $-22.3M | ||
| Q3 24 | $42.8M | $-25.5M | ||
| Q2 24 | $-15.6M | $-34.1M | ||
| Q1 24 | $-57.9M | $16.5M |
营业利润率ADAMMP
| Q4 25 | — | -7.0% | ||
| Q3 25 | — | -125.2% | ||
| Q2 25 | 11.7% | -76.5% | ||
| Q1 25 | — | -57.2% | ||
| Q4 24 | -119.0% | -72.1% | ||
| Q3 24 | — | -62.8% | ||
| Q2 24 | -124.7% | -171.1% | ||
| Q1 24 | -448.8% | -66.6% |
净利率ADAMMP
| Q4 25 | 124.0% | 17.9% | ||
| Q3 25 | 122.5% | -78.0% | ||
| Q2 25 | 23.4% | -53.8% | ||
| Q1 25 | 127.4% | -37.2% | ||
| Q4 24 | -117.5% | -36.6% | ||
| Q3 24 | 211.7% | -40.5% | ||
| Q2 24 | -81.9% | -108.9% | ||
| Q1 24 | -324.1% | 33.9% |
每股收益（稀释后）ADAMMP
| Q4 25 | $0.45 | $0.07 | ||
| Q3 25 | $0.36 | $-0.24 | ||
| Q2 25 | $-0.04 | $-0.19 | ||
| Q1 25 | $0.33 | $-0.14 | ||
| Q4 24 | $-0.46 | $-0.12 | ||
| Q3 24 | $0.36 | $-0.16 | ||
| Q2 24 | $-0.29 | $-0.21 | ||
| Q1 24 | $-0.75 | $-0.08 |
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 | $1.2B |
| 总债务越低越好 | $735.8M | $998.7M |
| 股东权益账面价值 | $1.4B | $2.0B |
| 总资产 | $12.6B | $3.9B |
| 负债/权益比越低杠杆越低 | 0.52× | 0.50× |
8季度趋势，按日历期对齐
现金及短期投资ADAMMP
| Q4 25 | $210.3M | $1.2B | ||
| Q3 25 | $185.3M | $1.1B | ||
| Q2 25 | $160.4M | $261.5M | ||
| Q1 25 | $177.1M | $198.3M | ||
| Q4 24 | $167.4M | $282.4M | ||
| Q3 24 | $195.1M | $284.4M | ||
| Q2 24 | $235.5M | $295.6M | ||
| Q1 24 | $226.9M | $296.5M |
总债务ADAMMP
| Q4 25 | $735.8M | $998.7M | ||
| Q3 25 | $766.6M | $997.3M | ||
| Q2 25 | $653.0M | $910.8M | ||
| Q1 25 | $654.4M | $909.8M | ||
| Q4 24 | $573.2M | $908.7M | ||
| Q3 24 | $699.4M | — | ||
| Q2 24 | $800.7M | — | ||
| Q1 24 | $1.0B | — |
股东权益ADAMMP
| Q4 25 | $1.4B | $2.0B | ||
| Q3 25 | $1.4B | $2.0B | ||
| Q2 25 | $1.4B | $1.0B | ||
| Q1 25 | $1.4B | $1.0B | ||
| Q4 24 | $1.4B | $1.1B | ||
| Q3 24 | $1.4B | $1.1B | ||
| Q2 24 | $1.4B | $1.1B | ||
| Q1 24 | $1.5B | $1.1B |
总资产ADAMMP
| Q4 25 | $12.6B | $3.9B | ||
| Q3 25 | $12.4B | $3.8B | ||
| Q2 25 | $10.6B | $2.3B | ||
| Q1 25 | $10.0B | $2.4B | ||
| Q4 24 | $9.2B | $2.3B | ||
| Q3 24 | $8.9B | $2.3B | ||
| Q2 24 | $8.2B | $2.4B | ||
| Q1 24 | $7.4B | $2.4B |
负债/权益比ADAMMP
| Q4 25 | 0.52× | 0.50× | ||
| Q3 25 | 0.55× | 0.51× | ||
| Q2 25 | 0.47× | 0.90× | ||
| Q1 25 | 0.47× | 0.88× | ||
| Q4 24 | 0.41× | 0.86× | ||
| 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 | $134.0M | $-46.9M |
| 自由现金流经营现金流 - 资本支出 | $125.9M | $-109.3M |
| 自由现金流率自由现金流/营收 | 291.6% | -207.4% |
| 资本支出强度资本支出/营收 | 18.9% | 118.5% |
| 现金转化率经营现金流/净利润 | 2.50× | -4.97× |
| 过去12个月自由现金流最近4个季度 | — | $-328.1M |
8季度趋势，按日历期对齐
经营现金流ADAMMP
| Q4 25 | $134.0M | $-46.9M | ||
| Q3 25 | $6.9M | $-42.0M | ||
| Q2 25 | $39.2M | $-3.7M | ||
| Q1 25 | $25.8M | $-63.2M | ||
| Q4 24 | $14.1M | $30.5M | ||
| Q3 24 | $-922.0K | $-6.8M | ||
| Q2 24 | $-993.0K | $30.8M | ||
| Q1 24 | $-13.1M | $-41.1M |
自由现金流ADAMMP
| Q4 25 | $125.9M | $-109.3M | ||
| Q3 25 | — | $-92.5M | ||
| Q2 25 | — | $-32.7M | ||
| Q1 25 | — | $-93.7M | ||
| Q4 24 | $-10.6M | $-11.2M | ||
| Q3 24 | $-8.6M | $-53.3M | ||
| Q2 24 | $-8.6M | $-15.6M | ||
| Q1 24 | $-19.1M | $-93.0M |
自由现金流率ADAMMP
| Q4 25 | 291.6% | -207.4% | ||
| Q3 25 | — | -172.8% | ||
| Q2 25 | — | -56.9% | ||
| Q1 25 | — | -154.0% | ||
| Q4 24 | -39.6% | -18.3% | ||
| Q3 24 | -42.3% | -84.7% | ||
| Q2 24 | -44.9% | -50.1% | ||
| Q1 24 | -107.0% | -191.0% |
资本支出强度ADAMMP
| Q4 25 | 18.9% | 118.5% | ||
| Q3 25 | — | 94.3% | ||
| Q2 25 | — | 50.5% | ||
| Q1 25 | — | 50.1% | ||
| Q4 24 | 92.3% | 68.3% | ||
| Q3 24 | 37.7% | 73.8% | ||
| Q2 24 | 39.7% | 148.7% | ||
| Q1 24 | 33.5% | 106.5% |
现金转化率ADAMMP
| Q4 25 | 2.50× | -4.97× | ||
| Q3 25 | 0.15× | — | ||
| Q2 25 | 4.59× | — | ||
| Q1 25 | 0.61× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -0.02× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -2.49× |
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% |
MP
| Materials Segment | $35.6M | 68% |
| Other | $17.1M | 32% |
