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ADAMAS TRUST, INC.（ADAM）与IMPINJ INC（PI）财务数据对比。点击上方公司名可切换其他公司
IMPINJ INC的季度营收约是ADAMAS TRUST, INC.的1.7倍（$74.3M vs $43.2M），ADAMAS TRUST, INC.净利率更高（124.0% vs 11.2%，领先112.8%），ADAMAS TRUST, INC.同比增速更快（61.6% vs -0.0%），ADAMAS TRUST, INC.自由现金流更多（$125.9M vs $2.2M），过去两年ADAMAS TRUST, INC.的营收复合增速更高（55.5% vs -14.9%）
Impinj Inc.是一家美国射频识别（RFID）设备及软件提供商，成立于2000年，总部位于华盛顿州西雅图，源自加州理工学院Carver Mead与Chris Diorio的研究成果。公司主营EPC Class 1 Gen 2无源超高频RFID芯片、读写器、读写器芯片、天线，以及芯片编码、业务数据采集相关的软件应用，为各行业RFID应用提供全链路产品支持。
ADAM vs PI — 直观对比
营收规模更大
PI
是对方的1.7倍
$43.2M
营收增速更快
ADAM
高出61.7%
-0.0%
净利率更高
ADAM
高出112.8%
11.2%
自由现金流更多
ADAM
多$123.7M
$2.2M
两年增速更快
ADAM
近两年复合增速
-14.9%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $43.2M | $74.3M |
| 净利润 | $53.5M | $8.3M |
| 毛利率 | — | 49.1% |
| 营业利润率 | — | 30.5% |
| 净利率 | 124.0% | 11.2% |
| 营收同比 | 61.6% | -0.0% |
| 净利润同比 | 270.5% | — |
| 每股收益（稀释后） | $0.45 | $0.14 |
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ADAMPI
| Q1 26 | — | $74.3M | ||
| Q4 25 | $43.2M | $92.8M | ||
| Q3 25 | $36.6M | $96.1M | ||
| Q2 25 | $36.4M | $97.9M | ||
| Q1 25 | $33.1M | $74.3M | ||
| Q4 24 | $26.7M | $91.6M | ||
| Q3 24 | $20.2M | $95.2M | ||
| Q2 24 | $19.0M | $102.5M |
净利润ADAMPI
| Q1 26 | — | $8.3M | ||
| Q4 25 | $53.5M | $-1.1M | ||
| Q3 25 | $44.8M | $-12.8M | ||
| Q2 25 | $8.5M | $11.6M | ||
| Q1 25 | $42.2M | $-8.5M | ||
| Q4 24 | $-31.4M | $-2.7M | ||
| Q3 24 | $42.8M | $221.0K | ||
| Q2 24 | $-15.6M | $10.0M |
毛利率ADAMPI
| Q1 26 | — | 49.1% | ||
| Q4 25 | — | 51.8% | ||
| Q3 25 | — | 50.3% | ||
| Q2 25 | — | 57.8% | ||
| Q1 25 | — | 49.4% | ||
| Q4 24 | — | 50.5% | ||
| Q3 24 | — | 50.0% | ||
| Q2 24 | — | 56.1% |
营业利润率ADAMPI
| Q1 26 | — | 30.5% | ||
| Q4 25 | — | -2.9% | ||
| Q3 25 | — | 0.7% | ||
| Q2 25 | 11.7% | 11.1% | ||
| Q1 25 | — | -12.9% | ||
| Q4 24 | -119.0% | -3.9% | ||
| Q3 24 | — | -0.8% | ||
| Q2 24 | -124.7% | 8.8% |
净利率ADAMPI
| Q1 26 | — | 11.2% | ||
| Q4 25 | 124.0% | -1.2% | ||
| Q3 25 | 122.5% | -13.3% | ||
| Q2 25 | 23.4% | 11.8% | ||
| Q1 25 | 127.4% | -11.4% | ||
| Q4 24 | -117.5% | -2.9% | ||
| Q3 24 | 211.7% | 0.2% | ||
| Q2 24 | -81.9% | 9.7% |
每股收益（稀释后）ADAMPI
| Q1 26 | — | $0.14 | ||
| Q4 25 | $0.45 | $-0.02 | ||
| Q3 25 | $0.36 | $-0.44 | ||
| Q2 25 | $-0.04 | $0.39 | ||
| Q1 25 | $0.33 | $-0.30 | ||
| Q4 24 | $-0.46 | $-0.06 | ||
| Q3 24 | $0.36 | $0.01 | ||
| Q2 24 | $-0.29 | $0.34 |
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 | $131.8M |
| 总债务越低越好 | $735.8M | $241.5M |
| 股东权益账面价值 | $1.4B | — |
| 总资产 | $12.6B | $502.5M |
| 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ADAMPI
| Q1 26 | — | $131.8M | ||
| Q4 25 | $210.3M | $175.3M | ||
| Q3 25 | $185.3M | $190.1M | ||
| Q2 25 | $160.4M | $193.2M | ||
| Q1 25 | $177.1M | $147.9M | ||
| Q4 24 | $167.4M | $164.7M | ||
| Q3 24 | $195.1M | $170.3M | ||
| Q2 24 | $235.5M | $220.2M |
总债务ADAMPI
| Q1 26 | — | $241.5M | ||
| Q4 25 | $735.8M | $280.9M | ||
| Q3 25 | $766.6M | $280.4M | ||
| Q2 25 | $653.0M | — | ||
| Q1 25 | $654.4M | — | ||
| Q4 24 | $573.2M | $283.5M | ||
| Q3 24 | $699.4M | — | ||
| Q2 24 | $800.7M | — |
股东权益ADAMPI
| Q1 26 | — | — | ||
| Q4 25 | $1.4B | $209.2M | ||
| Q3 25 | $1.4B | $195.0M | ||
| Q2 25 | $1.4B | $187.7M | ||
| Q1 25 | $1.4B | $160.6M | ||
| Q4 24 | $1.4B | $149.9M | ||
| Q3 24 | $1.4B | $136.1M | ||
| Q2 24 | $1.4B | $117.0M |
总资产ADAMPI
| Q1 26 | — | $502.5M | ||
| Q4 25 | $12.6B | $545.2M | ||
| Q3 25 | $12.4B | $516.5M | ||
| Q2 25 | $10.6B | $508.8M | ||
| Q1 25 | $10.0B | $479.8M | ||
| Q4 24 | $9.2B | $489.1M | ||
| Q3 24 | $8.9B | $476.4M | ||
| Q2 24 | $8.2B | $446.1M |
负债/权益比ADAMPI
| Q1 26 | — | — | ||
| Q4 25 | 0.52× | 1.34× | ||
| Q3 25 | 0.55× | 1.44× | ||
| Q2 25 | 0.47× | — | ||
| Q1 25 | 0.47× | — | ||
| Q4 24 | 0.41× | 1.89× | ||
| Q3 24 | 0.48× | — | ||
| Q2 24 | 0.56× | — |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $125.9M | $2.2M |
| 自由现金流率自由现金流/营收 | 291.6% | 3.0% |
| 资本支出强度资本支出/营收 | 18.9% | — |
| 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 | — | $61.1M |
8季度趋势，按日历期对齐
经营现金流ADAMPI
| Q1 26 | — | — | ||
| Q4 25 | $134.0M | $15.1M | ||
| Q3 25 | $6.9M | $20.9M | ||
| Q2 25 | $39.2M | $33.9M | ||
| Q1 25 | $25.8M | $-11.1M | ||
| Q4 24 | $14.1M | $12.6M | ||
| Q3 24 | $-922.0K | $10.1M | ||
| Q2 24 | $-993.0K | $45.5M |
自由现金流ADAMPI
| Q1 26 | — | $2.2M | ||
| Q4 25 | $125.9M | $13.6M | ||
| Q3 25 | — | $18.0M | ||
| Q2 25 | — | $27.3M | ||
| Q1 25 | — | $-13.0M | ||
| Q4 24 | $-10.6M | $8.5M | ||
| Q3 24 | $-8.6M | $4.7M | ||
| Q2 24 | $-8.6M | $44.1M |
自由现金流率ADAMPI
| Q1 26 | — | 3.0% | ||
| Q4 25 | 291.6% | 14.7% | ||
| Q3 25 | — | 18.7% | ||
| Q2 25 | — | 27.9% | ||
| Q1 25 | — | -17.5% | ||
| Q4 24 | -39.6% | 9.3% | ||
| Q3 24 | -42.3% | 4.9% | ||
| Q2 24 | -44.9% | 43.0% |
资本支出强度ADAMPI
| Q1 26 | — | — | ||
| Q4 25 | 18.9% | 1.6% | ||
| Q3 25 | — | 3.1% | ||
| Q2 25 | — | 6.7% | ||
| Q1 25 | — | 2.5% | ||
| Q4 24 | 92.3% | 4.5% | ||
| Q3 24 | 37.7% | 5.7% | ||
| Q2 24 | 39.7% | 1.3% |
现金转化率ADAMPI
| Q1 26 | — | — | ||
| Q4 25 | 2.50× | — | ||
| Q3 25 | 0.15× | — | ||
| Q2 25 | 4.59× | 2.93× | ||
| Q1 25 | 0.61× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -0.02× | 45.56× | ||
| Q2 24 | — | 4.56× |
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% |
PI
暂无分部数据
