ADAM (Adamas Trust) Scaled Net Operating Assets: 0.31 (As of Mar. 2026)


ADAM Adamas Trust Inc ADAM
51 GF Score
Price $9.33
GF Value $10.59
Valuation Modestly Undervalued
! 6 Warning Signs
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What is Adamas Trust Scaled Net Operating Assets?

Adamas Trust ADAM +2.76% 51 Scaled Net Operating Assets is 0.31 as of Mar. 2026. GuruFocus rates ADAM with a GF Score™ of 51/100 and a GF Value™ of $10.59 (Modestly Undervalued). The stock has 6 warning signs investors should review.

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

Adamas Trust's operating assets for the quarter that ended in Mar. 2026 was $11,112.0 Mil. Adamas Trust's operating liabilities for the quarter that ended in Mar. 2026 was $7,197.8 Mil. Adamas Trust's Total Assets for the quarter that ended in Dec. 2025 was $12,638.8 Mil. Therefore, Adamas Trust's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.31.

ADAM
51GF Score
Adamas Trust Inc ADAM
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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Adamas Trust Scaled Net Operating Assets Calculation

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

Adamas Trust's Scaled Net Operating Assets (SNOA) for the fiscal year that ended in Dec. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(A: Dec. 2025 )
=(Operating Assets (A: Dec. 2025 )-Operating Liabilities (A: Dec. 2025 ))/Total Assets (A: Dec. 2024 )
=(12428.514-6953.491)/9217.282
=0.59

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=12638.847 - 210.333
=12428.514

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=11208.41 - 4254.919 - 0
=6953.491

Adamas Trust's Scaled Net Operating Assets (SNOA) for the quarter that ended in Mar. 2026 is calculated as

Scaled Net Operating Assets (SNOA)(Q: Mar. 2026 )
=(Operating Assets (Q: Mar. 2026 )-Operating Liabilities (Q: Mar. 2026 ))/Total Assets (Q: Dec. 2025 )
=(11112.049-7197.801)/12638.847
=0.31

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=12790.341 - 1678.292
=11112.049

Operating Liabilities(Q: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=11332.524 - 4134.723 - 0
=7197.801

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

What does a Scaled Net Operating Assets of 0.31 mean?
Adamas Trust (ADAM) has a Scaled Net Operating Assets of 0.31 as of Mar. 2026. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Adamas Trust and its competitors.
Is Adamas Trust's Scaled Net Operating Assets too high?
Adamas Trust's current Scaled Net Operating Assets is 0.31. Overall, Adamas Trust has a GF Score™ of 51/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Adamas Trust's Scaled Net Operating Assets compare to BRSP and PMT?
Adamas Trust's Scaled Net Operating Assets of 0.31 can be compared against companies in the REITs industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Scaled Net Operating Assets for a REITs company?
A good Scaled Net Operating Assets depends on the REITs industry context. However, Scaled Net Operating Assets should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Scaled Net Operating Assets mean?
A high Scaled Net Operating Assets can signal that a stock is expensive relative to its fundamentals. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Adamas Trust and its competitors. Adamas Trust's current Scaled Net Operating Assets is 0.31. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Adamas Trust stock overvalued right now?
Based on GuruFocus' analysis, Adamas Trust (ADAM) is currently considered Modestly Undervalued. The stock's GF Value™ is $10.59, compared to a current price of $9.33 — trading 11.9% below its estimated fair value. The current Scaled Net Operating Assets is 0.31. Adamas Trust's overall GF Score™ is 51/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Scaled Net Operating Assets calculated?
Scaled Net Operating Assets is calculated from a company's financial statements. For Adamas Trust (ADAM), the current Scaled Net Operating Assets is 0.31 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Adamas Trust (ADAM) Overvalued in 2026?

Based on GuruFocus' analysis, Adamas Trust stock appears to be undervalued. The current stock price of $9.33 is trading 11.9% below its estimated GF Value™ of $10.59. GuruFocus considers Adamas Trust to be Modestly Undervalued.

Key valuation signals for ADAM:

  • Scaled Net Operating Assets: 0.31
  • GF Value™: $10.59 vs. price of $9.33 (11.9% below fair value)
  • GF Score™: 51/100 with 6 warning signs

No single metric tells the full story. See the ADAM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Adamas Trust Business Description

Industry Real EstateREITs
Address 90 Park Avenue, New York, NY, USA, 10016
Adamas Trust Inc is an internally-managed REIT for U.S. federal income tax purposes, in the business of acquiring, investing in, financing, and managing mainly mortgage-related single-family and multi-family residential assets. Its objective is to deliver long-term stable distributions to its stockholders over changing economic conditions through a combination of net interest spread and capital gains from a diversified investment portfolio. The company's investment portfolio includes credit-sensitive single-family and multi-family assets.
51GF Score

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Scaled Net Operating Assets is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$9.33
Price
$10.59
GF Value