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ADAMAS TRUST, INC.（ADAM）与TELOS CORP（TLS）财务数据对比。点击上方公司名可切换其他公司
TELOS CORP的季度营收约是ADAMAS TRUST, INC.的1.1倍（$46.8M vs $43.2M），ADAMAS TRUST, INC.净利率更高（124.0% vs -34.9%，领先158.9%），TELOS CORP同比增速更快（77.4% vs 61.6%），ADAMAS TRUST, INC.自由现金流更多（$125.9M vs $8.0M），过去两年ADAMAS TRUST, INC.的营收复合增速更高（55.5% vs 25.7%）
泰洛斯公司（Telos Corporation）是一家信息技术与网络安全企业，总部位于美国弗吉尼亚州阿什本。公司主要服务对象为政府与企业客户，业务合同大部分来自美国国防部，核心客户涵盖美国军方、情报机构、民政部门以及北约盟友机构。
ADAM vs TLS — 直观对比
营收规模更大
TLS
是对方的1.1倍
$43.2M
营收增速更快
TLS
高出15.8%
61.6%
净利率更高
ADAM
高出158.9%
-34.9%
自由现金流更多
ADAM
多$117.9M
$8.0M
两年增速更快
ADAM
近两年复合增速
25.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $43.2M | $46.8M |
| 净利润 | $53.5M | $-16.3M |
| 毛利率 | — | 35.0% |
| 营业利润率 | — | -39.6% |
| 净利率 | 124.0% | -34.9% |
| 营收同比 | 61.6% | 77.4% |
| 净利润同比 | 270.5% | -74.8% |
| 每股收益（稀释后） | $0.45 | $-0.22 |
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ADAMTLS
| Q4 25 | $43.2M | $46.8M | ||
| Q3 25 | $36.6M | $51.4M | ||
| Q2 25 | $36.4M | $36.0M | ||
| Q1 25 | $33.1M | $30.6M | ||
| Q4 24 | $26.7M | $26.4M | ||
| Q3 24 | $20.2M | $23.8M | ||
| Q2 24 | $19.0M | $28.5M | ||
| Q1 24 | $17.9M | $29.6M |
净利润ADAMTLS
| Q4 25 | $53.5M | $-16.3M | ||
| Q3 25 | $44.8M | $-2.1M | ||
| Q2 25 | $8.5M | $-9.5M | ||
| Q1 25 | $42.2M | $-8.6M | ||
| Q4 24 | $-31.4M | $-9.3M | ||
| Q3 24 | $42.8M | $-28.1M | ||
| Q2 24 | $-15.6M | $-7.8M | ||
| Q1 24 | $-57.9M | $-7.4M |
毛利率ADAMTLS
| Q4 25 | — | 35.0% | ||
| Q3 25 | — | 39.9% | ||
| Q2 25 | — | 33.2% | ||
| Q1 25 | — | 39.8% | ||
| Q4 24 | — | 40.3% | ||
| Q3 24 | — | 13.2% | ||
| Q2 24 | — | 34.1% | ||
| Q1 24 | — | 37.0% |
营业利润率ADAMTLS
| Q4 25 | — | -39.6% | ||
| Q3 25 | — | -4.8% | ||
| Q2 25 | 11.7% | -27.5% | ||
| Q1 25 | — | -29.5% | ||
| Q4 24 | -119.0% | -37.6% | ||
| Q3 24 | — | -121.4% | ||
| Q2 24 | -124.7% | -30.3% | ||
| Q1 24 | -448.8% | -28.5% |
净利率ADAMTLS
| Q4 25 | 124.0% | -34.9% | ||
| Q3 25 | 122.5% | -4.1% | ||
| Q2 25 | 23.4% | -26.5% | ||
| Q1 25 | 127.4% | -28.1% | ||
| Q4 24 | -117.5% | -35.4% | ||
| Q3 24 | 211.7% | -118.0% | ||
| Q2 24 | -81.9% | -27.2% | ||
| Q1 24 | -324.1% | -24.9% |
每股收益（稀释后）ADAMTLS
| Q4 25 | $0.45 | $-0.22 | ||
| Q3 25 | $0.36 | $-0.03 | ||
| Q2 25 | $-0.04 | $-0.13 | ||
| Q1 25 | $0.33 | $-0.12 | ||
| Q4 24 | $-0.46 | $-0.13 | ||
| Q3 24 | $0.36 | $-0.39 | ||
| Q2 24 | $-0.29 | $-0.11 | ||
| Q1 24 | $-0.75 | $-0.10 |
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 | $53.2M |
| 总债务越低越好 | $735.8M | — |
| 股东权益账面价值 | $1.4B | $96.0M |
| 总资产 | $12.6B | $139.9M |
| 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ADAMTLS
| Q4 25 | $210.3M | $53.2M | ||
| Q3 25 | $185.3M | $59.0M | ||
| Q2 25 | $160.4M | $57.0M | ||
| Q1 25 | $177.1M | $57.8M | ||
| Q4 24 | $167.4M | $54.6M | ||
| Q3 24 | $195.1M | $69.8M | ||
| Q2 24 | $235.5M | $80.1M | ||
| Q1 24 | $226.9M | $93.9M |
总债务ADAMTLS
| 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ADAMTLS
| Q4 25 | $1.4B | $96.0M | ||
| Q3 25 | $1.4B | $119.7M | ||
| Q2 25 | $1.4B | $118.4M | ||
| Q1 25 | $1.4B | $126.1M | ||
| Q4 24 | $1.4B | $127.1M | ||
| Q3 24 | $1.4B | $129.5M | ||
| Q2 24 | $1.4B | $149.1M | ||
| Q1 24 | $1.5B | $154.4M |
总资产ADAMTLS
| Q4 25 | $12.6B | $139.9M | ||
| Q3 25 | $12.4B | $164.3M | ||
| Q2 25 | $10.6B | $165.0M | ||
| Q1 25 | $10.0B | $158.1M | ||
| Q4 24 | $9.2B | $158.2M | ||
| Q3 24 | $8.9B | $166.3M | ||
| Q2 24 | $8.2B | $182.4M | ||
| Q1 24 | $7.4B | $195.4M |
负债/权益比ADAMTLS
| 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 | $134.0M | $8.0M |
| 自由现金流经营现金流 - 资本支出 | $125.9M | $8.0M |
| 自由现金流率自由现金流/营收 | 291.6% | 17.0% |
| 资本支出强度资本支出/营收 | 18.9% | 0.1% |
| 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 | — | $29.4M |
8季度趋势，按日历期对齐
经营现金流ADAMTLS
| Q4 25 | $134.0M | $8.0M | ||
| Q3 25 | $6.9M | $9.1M | ||
| Q2 25 | $39.2M | $7.0M | ||
| Q1 25 | $25.8M | $6.1M | ||
| Q4 24 | $14.1M | $-10.5M | ||
| Q3 24 | $-922.0K | $-7.1M | ||
| Q2 24 | $-993.0K | $-8.0M | ||
| Q1 24 | $-13.1M | $-350.0K |
自由现金流ADAMTLS
| Q4 25 | $125.9M | $8.0M | ||
| Q3 25 | — | $8.7M | ||
| Q2 25 | — | $6.8M | ||
| Q1 25 | — | $6.0M | ||
| Q4 24 | $-10.6M | $-12.4M | ||
| Q3 24 | $-8.6M | $-7.1M | ||
| Q2 24 | $-8.6M | $-8.2M | ||
| Q1 24 | $-19.1M | $-447.0K |
自由现金流率ADAMTLS
| Q4 25 | 291.6% | 17.0% | ||
| Q3 25 | — | 16.9% | ||
| Q2 25 | — | 19.0% | ||
| Q1 25 | — | 19.5% | ||
| Q4 24 | -39.6% | -47.0% | ||
| Q3 24 | -42.3% | -30.0% | ||
| Q2 24 | -44.9% | -28.9% | ||
| Q1 24 | -107.0% | -1.5% |
资本支出强度ADAMTLS
| Q4 25 | 18.9% | 0.1% | ||
| Q3 25 | — | 0.9% | ||
| Q2 25 | — | 0.4% | ||
| Q1 25 | — | 0.4% | ||
| Q4 24 | 92.3% | 7.1% | ||
| Q3 24 | 37.7% | 0.2% | ||
| Q2 24 | 39.7% | 0.8% | ||
| Q1 24 | 33.5% | 0.3% |
现金转化率ADAMTLS
| 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% |
TLS
| Security Solutions Segment | $44.8M | 96% |
| Secure Networks Segment | $1.9M | 4% |
