Stock fact sheet · data as of
Adamas Trust, Inc. (ADAMN): fair value, margin of safety and Wheel Score
Real Estate · REIT - Mortgage · United States · High Growth
Is ADAMN undervalued?
ADAMN has a margin of safety of 76%: the stock closed at 22.91 on 16 Oct 2026 against a GLS average fair value of 94.82. 7 of the 8 valuation models that produced a number sit above the price. Our screens treat a discount this large as a strong starting point for a cash-secured put, not as a verdict - the fair value is a model output, and a wide gap can mean the models are missing something the market knows.
There is a wide gap between DDM (15.16) and GLS Growth (404.45). 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 ADAMN under High Growth: revenue and earnings growing fast enough that the growth-based models carry the valuation.
Nine valuation models for ADAMN
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 | +25% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 106.59 | +365% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 26.43 | +15% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 404.45 | +1665% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 34.98 | +53% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 68.81 | +200% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | 15.16 | -34% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 73.41 | +220% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -371.01 | -1719% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 0.0000 | -100% | 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 39: No options
No options are listed on Adamas Trust, Inc. in our nightly snapshot. The Wheel Score is therefore capped at 39 (it reads 39) and the stock is left out of every options screen; the fair value and health figures above are still useful for a plain stock position.
Volume runs at 7k shares a day on a market cap of $679M, with a beta of 1.24 - 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 7 of 20.
| Part | Points | From | |
|---|---|---|---|
| Value | 25 / 25 | 76% margin of safety | |
| Health | 16 / 20 | Piotroski 7/9 | |
| Moat | 6 / 15 | moat 4.0/10 | |
| Premium | 0 / 20 | no option data | |
| Stability | 7 / 20 | 7k shares/day, $679M cap, beta 1.24 |
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 |
|---|---|---|---|---|---|
| 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 |
| ADAMZ Adamas Trust, Inc. 7.000% Series G Cumulative Redeemable Preferred Stock | 15.70 | 105.91 | +85% | 38No options | $689M |
| 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 |
| ADAM Adamas Trust, Inc. | 7.79 | 44.42 | +82% | 80Prime | $700M |
| ADAMO Adamas Trust, Inc. 9.250% Senior Notes Due 2031 | 24.25 | 45.03 | +46% | 32No options | $701M |
| 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 |
| 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 |
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Start free See the Sunday ScanQuestions about ADAMN
Is ADAMN undervalued right now?
By the GLS models, yes: at 22.91 the stock is 76% below the average fair value of 94.82 (data as of 16 Oct 2026). Whether the discount is deserved is the question to research next.
What is the Wheel Score of ADAMN and what does it mean?
ADAMN has no listed options in our nightly snapshot, so it cannot be wheeled; its Wheel Score is capped at 39 and shown as "No options".
What is the GLS fair value for ADAMN?
94.82 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 ADAMN have listed options, and how liquid are they?
No. The nightly options snapshot found no listed contracts on ADAMN, so the wheel strategy cannot be run on it and the Wheel Score is capped at 39.