Stock fact sheet · data as of
Adamas Trust, Inc. (ADAM): fair value, margin of safety and Wheel Score
Real Estate · REIT - Mortgage · United States · High Growth
Is ADAM undervalued?
Adamas Trust, Inc. (ADAM) closed at 7.79 on 16 Oct 2026. The GLS average fair value - the simple average of the 8 valuation models that produced a positive number - is 44.42, which puts the price 82% below it. 8 of the 8 models value the shares above the current price. A gap this wide is rare in our universe of ~7,400 US stocks and is exactly what the Value part of the Wheel Score rewards; it is also where the question "why is it this cheap?" matters most.
There is a wide gap between Lynch (8.99) and GLS Growth (137.52). When the models are this far apart the "fair value" is really a range, and the margin of safety above should be read with that range in mind.
The nightly engine files ADAM under High Growth: revenue and earnings growing fast enough that the growth-based models carry the valuation.
Nine valuation models for ADAM
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | - | - | Present value of the projected free cash flows, discounted at the cost of capital; no value tonight |
| Graham Number | 28.73 | +269% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 36.24 | +365% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 8.99 | +15% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 137.52 | +1665% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 34.91 | +348% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 68.81 | +783% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | 15.16 | +95% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 24.96 | +220% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -122.36 | -1671% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 9.50 | +22% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Adamas Trust, Inc. scores 7 of 9 on the Piotroski F-score, the nine yes/no tests of profitability, leverage and efficiency on the latest annual accounts - a strong reading that passes the Sunday Scan's "6 or more" rule with room to spare. A GLS Moat score of 4.0/10 is a weak reading: the ten-year history the score grades (revenue, EPS, book value, margins, cash flow, share count, ROIC) has not been steady, so the Moat part of the Wheel Score contributes little.
Returns on capital are thin or negative - ROIC 1.2%, ROE 10.4%, ROA 1.2% - with debt at 7.71 times equity and a free-cash-flow yield of 22.3%. Debt of 7.71 times equity is on the high side for the sector and is worth checking against the cash flow before treating the stock as a long-term hold.
The dividend yield is high at 13.22% (payout ratio 64%). A yield this size is often the market's way of pricing a risk to the payout, so the health score and cash flow matter more than usual.
Institutional ownership scores 5/10, insider activity 5/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 7 / 9 | ROIC | 1.2% |
|---|---|---|---|
| GLS Moat | 4.0 / 10 | ROE | 10.4% |
| Debt / equity | 7.71 | ROA | 1.2% |
| Free-cash-flow yield | 22.3% | Payout ratio | 64% |
| Institutions | 5 / 10 | Insiders · Congress | 5 · 5 / 10 |
Wheel Score 80: Prime
With a Wheel Score of 80, Adamas Trust, Inc. sits in the Prime band - price, quality and premium all line up for the wheel strategy. The parts: Value 25/25, Health 16/20, Moat 6/15, Premium 20/20, Stability 13/20. A high score is a ranking, not a signal: it says nothing about timing, the earnings date or your position size.
Implied volatility is 43% on the near-the-money contracts 20-60 days out - inside the 35-60% range the Wheel Score pays full marks for: enough premium to be worth selling, not so much that the risk is unpaid. Chain open interest is 6,318 contracts across all expiries - enough for the wheel at normal size.
Volume runs at 1.0M shares a day on a market cap of $700M, with a beta of 1.30 - a high beta, so the stock tends to move more than the market and a strike can be gapped through; the Stability part of the Wheel Score gives that 13 of 20.
| Part | Points | From | |
|---|---|---|---|
| Value | 25 / 25 | 82% margin of safety | |
| Health | 16 / 20 | Piotroski 7/9 | |
| Moat | 6 / 15 | moat 4.0/10 | |
| Premium | 20 / 20 | implied volatility 43% | |
| Stability | 13 / 20 | 1.0M shares/day, $700M cap, beta 1.30 |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls; it is updated nightly and is not a recommendation. The walkthrough lesson shows how the score fits into a trade, start to finish.
Upcoming events
The next earnings report is due on 4 Nov 2026 (after the close), 19 days away; a 30-45-day put sold today would expire after it, which is worth weighing against the premium.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in REIT - Mortgage
The 12 companies below are the closest to Adamas Trust, Inc. by market cap within the REIT - Mortgage industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| ADAMO Adamas Trust, Inc. 9.250% Senior Notes Due 2031 | 24.25 | 45.03 | +46% | 32No options | $701M |
| ADAML Adamas Trust, Inc. - 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share | 23.69 | 150.42 | +84% | 38No options | $697M |
| ADAMI Adamas Trust Inc. 9.125% Sr. Notes due 2029 | 24.73 | 156.21 | +84% | 38No options | $704M |
| ADAMM Adamas Trust, Inc. | 24.50 | 154.93 | +84% | 38No options | $705M |
| ADAMH Adamas Trust, Inc. | 24.86 | 156.94 | +84% | 38No options | $710M |
| ADAMZ Adamas Trust, Inc. 7.000% Series G Cumulative Redeemable Preferred Stock | 15.70 | 105.91 | +85% | 38No options | $689M |
| ADAMG Adamas Trust, Inc. - 9.125% Senior Notes Due 2030 | 24.36 | 154.15 | +84% | 38No options | $714M |
| CIM Chimera Investment Corporation | 8.55 | 4.92 | -74% | 46Weak | $715M |
| ADAMN Adamas Trust, Inc. | 22.91 | 94.82 | +76% | 39No options | $679M |
| MFAO MFA Financial, Inc. 9.000% Senior Notes | 25.10 | 115.10 | +78% | 39No options | $679M |
| MFA MFA Financial, Inc. | 6.70 | 48.10 | +86% | 81Prime | $677M |
| MFAN MFA Financial, Inc. 8.875% Senior Notes | 25.17 | 96.77 | +74% | 39No options | $677M |
Screen the whole market the same way
A free GLS Equity account gets you nightly fair value and the Wheel Score on ~7,400 US stocks, a watchlist, the scanner preview and the Sunday Scan - the same eight-rule screen, emailed every week. Pro adds the full put and call scanners, unlimited watchlists with alerts and the trade journal.
Start free See the Sunday ScanQuestions about ADAM
Is ADAM undervalued right now?
By the GLS models, yes: at 7.79 the stock is 82% below the average fair value of 44.42 (data as of 16 Oct 2026). Whether the discount is deserved is the question to research next.
What is the Wheel Score of ADAM and what does it mean?
ADAM scores 80 out of 100 (Prime). The Wheel Score blends the margin of safety (25 points), Piotroski health (20), the GLS moat (15), the option premium on offer (20) and trading stability (20) into one number that ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned. 80 and above is Prime, 65-79 Good, 50-64 Fair, under 50 Weak.
What is the GLS fair value for ADAM?
44.42 per share as of 16 Oct 2026 - the simple average of the 8 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does Adamas Trust, Inc. report earnings next?
The next earnings report is due on 4 Nov 2026 (after the close), 19 days from the data date of 16 Oct 2026. The Calendars page lists every upcoming report with its time of day.
Does ADAM have listed options, and how liquid are they?
Yes. The nightly snapshot found 68 listed contracts with 6,318 open interest across all expiries and implied volatility of 43% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.