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Redwood Trust (RWT) Financials

Redwood Trust logo
$5.44 -0.07 (-1.18%)
Closing price 05/23/2025 03:59 PM Eastern
Extended Trading
$5.50 +0.07 (+1.29%)
As of 05/23/2025 05:47 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Polygon.io. Learn more.
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Annual Income Statements for Redwood Trust

Annual Income Statements for Redwood Trust

This table shows Redwood Trust's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022
Period end date 12/31/2024 12/31/2023 12/31/2022
Net Income / (Loss) Attributable to Common Shareholders		 47 -8.96 -164
Consolidated Net Income / (Loss)		 54 -2.27 -164
Net Income / (Loss) Continuing Operations		 54 -2.27 -164
Total Pre-Tax Income 		73 -0.64 -183
Total Revenue		 257 166 -7.23
Net Interest Income / (Expense)		 103 93 155
Total Interest Income		 945 724 708
Loans and Leases Interest Income		 855 655 632
Investment Securities Interest Income		 50 22 38
Other Interest Income		 40 48 38
Total Interest Expense		 843 632 552
Long-Term Debt Interest Expense		 270 260 182
Other Interest Expense		 572 372 370
Total Non-Interest Income		 154 73 -163
Other Service Charges		 28 13 21
Net Realized & Unrealized Capital Gains on Investments		 27 -7.58 -170
Other Non-Interest Income		 99 67 -14
Total Non-Interest Expense		 184 166 176
Other Operating Expenses		 171 159 164
Restructuring Charge		 13 7.17 12
Income Tax Expense		 19 1.64 -20
Preferred Stock Dividends Declared		 7.02 6.68 0.00
Basic Earnings per Share		 $0.32 ($0.11) ($1.43)
Weighted Average Basic Shares Outstanding		 132.05M 116.28M 117.23M
Diluted Earnings per Share		 $0.32 ($0.11) ($1.43)
Weighted Average Diluted Shares Outstanding		 132.14M 116.28M 117.23M
Weighted Average Basic & Diluted Shares Outstanding		 132.86M 131.58M 113.59M
Cash Dividends to Common per Share		 $0.67 $0.71 $0.92

Quarterly Income Statements for Redwood Trust

This table shows Redwood Trust's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Net Income / (Loss) Attributable to Common Shareholders		 -8.38 13 14 29 19 -33 1.12 3.20 -44 -50
Consolidated Net Income / (Loss)		 -6.62 15 16 30 21 -31 2.87 4.62 -44 -50
Net Income / (Loss) Continuing Operations		 -6.62 15 16 30 21 -31 2.87 4.62 -44 -50
Total Pre-Tax Income 		-0.36 22 20 31 22 -29 2.94 3.50 -53 -49
Total Revenue		 45 70 67 75 64 11 43 48 -6.39 -2.20
Net Interest Income / (Expense)		 28 25 25 24 20 20 26 26 27 35
Total Interest Income		 266 249 225 205 190 177 179 179 173 178
Loans and Leases Interest Income		 239 226 204 187 175 160 160 160 156 161
Investment Securities Interest Income		 19 14 11 6.28 3.79 5.11 6.22 6.43 6.94 6.99
Other Interest Income		 8.51 9.31 10 12 11 12 13 12 10 9.71
Total Interest Expense		 239 223 200 181 170 157 153 152 146 143
Long-Term Debt Interest Expense		 96 71 67 36 99 65 63 33 111 28
Other Interest Expense		 166 152 133 120 103 91 90 87 85 91
Total Non-Interest Income		 18 44 42 50 44 -9.59 17 21 -33 -37
Other Service Charges		 11 6.00 6.29 4.51 1.83 2.35 4.16 4.56 4.19 4.03
Net Realized & Unrealized Capital Gains on Investments		 -19 -1.34 17 31 27 -31 -3.54 -0.13 -21 -58
Other Non-Interest Income		 26 40 19 15 15 19 17 17 -16 17
Total Non-Interest Expense		 46 48 47 44 42 40 40 44 47 47
Other Operating Expenses		 42 45 43 42 39 38 39 43 46 44
Restructuring Charge		 3.60 3.18 3.66 2.24 2.55 1.88 1.44 1.29 1.40 2.43
Income Tax Expense		 6.26 7.13 4.92 0.52 0.99 1.70 0.07 -1.12 -9.44 1.42
Preferred Stock Dividends Declared		 1.76 1.75 1.76 1.75 1.76 1.75 1.76 1.42 - 0.00
Basic Earnings per Share		 ($0.08) $0.09 $0.10 $0.21 $0.16 ($0.29) $0.00 $0.02 ($0.39) ($0.44)
Weighted Average Basic Shares Outstanding		 132.05M 132.22M 132.12M 131.57M 116.28M 115.47M 114.05M 113.68M 117.23M 116.09M
Diluted Earnings per Share		 ($0.08) $0.09 $0.10 $0.21 $0.16 ($0.29) $0.00 $0.02 ($0.38) ($0.44)
Weighted Average Diluted Shares Outstanding		 132.14M 132.36M 132.12M 131.57M 116.28M 115.47M 114.45M 114.13M 117.23M 116.09M
Weighted Average Basic & Diluted Shares Outstanding		 132.86M 132.27M 132.22M 132.15M 131.58M 118.64M 114.23M 114.03M 113.59M 113.35M

Annual Cash Flow Statements for Redwood Trust

This table details how cash moves in and out of Redwood Trust's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022
Period end date 12/31/2024 12/31/2023 12/31/2022
Net Change in Cash & Equivalents		 -56 39 -202
Net Cash From Operating Activities		 -5,863 -2,016 -139
Net Cash From Continuing Operating Activities		 -5,863 -2,016 -139
Net Income / (Loss) Continuing Operations		 54 -2.27 -164
Consolidated Net Income / (Loss)		 54 -2.27 -164
Depreciation Expense		 12 15 16
Amortization Expense		 12 18 6.25
Non-Cash Adjustments to Reconcile Net Income		 -5,924 -1,995 39
Changes in Operating Assets and Liabilities, net		 -17 -51 -37
Net Cash From Investing Activities		 2,538 909 214
Net Cash From Continuing Investing Activities		 2,538 909 214
Purchase of Investment Securities		 -385 -930 -1,969
Sale and/or Maturity of Investments		 2,874 1,796 2,140
Other Investing Activities, net		 50 43 43
Net Cash From Financing Activities		 3,268 1,147 -277
Net Cash From Continuing Financing Activities		 3,268 1,147 -277
Issuance of Debt		 15,334 6,171 8,417
Issuance of Preferred Equity		 0.00 67 0.00
Issuance of Common Equity		 0.46 124 68
Repayment of Debt		 -11,959 -5,110 -8,586
Repurchase of Common Equity		 0.00 0.00 -56
Payment of Dividends		 -100 -94 -112
Other Financing Activities, Net		 -6.91 -12 -7.25
Cash Interest Paid		 811 603 519
Cash Income Taxes Paid		 4.06 -1.45 4.94

Quarterly Cash Flow Statements for Redwood Trust

This table details how cash moves in and out of Redwood Trust's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Net Change in Cash & Equivalents		 -13 -13 -1.01 -28 109 -187 -44 161 -40 -75
Net Cash From Operating Activities		 -854 -2,088 -1,966 -954 -1,148 -891 -78 102 -9.71 361
Net Cash From Continuing Operating Activities		 -854 -2,088 -1,959 -961 -1,148 -891 -78 102 -9.71 357
Net Income / (Loss) Continuing Operations		 -6.62 15 16 30 21 -31 2.87 4.62 -44 -50
Consolidated Net Income / (Loss)		 -6.62 15 16 30 21 -31 2.87 4.62 -44 -50
Depreciation Expense		 2.79 2.82 2.85 3.47 3.77 3.75 3.67 3.67 3.81 4.41
Amortization Expense		 2.61 1.72 2.98 4.85 3.78 3.95 4.37 5.82 4.21 4.58
Non-Cash Adjustments to Reconcile Net Income		 -760 -2,131 -2,019 -1,014 -1,112 -877 -117 112 57 392
Changes in Operating Assets and Liabilities, net		 -93 23 39 15 -65 9.47 28 -24 -31 6.14
Net Cash From Investing Activities		 1,001 636 551 350 269 253 276 111 45 -35
Net Cash From Continuing Investing Activities		 1,001 636 551 350 269 253 276 111 45 -35
Purchase of Investment Securities		 -55 -94 -59 -178 -216 -221 -238 -254 -316 -549
Sale and/or Maturity of Investments		 1,044 720 595 516 469 465 505 357 354 505
Other Investing Activities, net		 13 9.75 16 12 17 9.12 9.28 7.75 7.56 9.36
Net Cash From Financing Activities		 -160 1,439 1,414 575 988 451 -241 -52 -75 -401
Net Cash From Continuing Financing Activities		 -160 1,439 1,414 575 988 451 -241 -52 -75 -401
Issuance of Debt		 3,845 4,978 4,000 2,510 2,532 1,658 616 1,364 1,168 1,206
Issuance of Common Equity		 0.11 0.12 0.10 0.13 91 33 0.15 0.16 0.14 0.13
Repayment of Debt		 -3,976 -3,512 -2,561 -1,910 -1,606 -1,217 -832 -1,454 -1,214 -1,549
Payment of Dividends		 -27 -25 -24 -24 -24 -21 -21 -28 -27 -28
Other Financing Activities, Net		 -2.40 -1.41 -2.29 -0.82 -5.34 -2.18 -3.53 -1.21 -2.02 -1.45
Cash Interest Paid		 90 355 198 169 166 149 149 139 140 131
Cash Income Taxes Paid		 3.71 0.72 0.06 -0.43 -0.41 0.02 0.34 -1.39 1.04 -

Annual Balance Sheets for Redwood Trust

This table presents Redwood Trust's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022
Period end date 12/31/2024 12/31/2023 12/31/2022
Total Assets		 18,258 14,504 13,031
Cash and Due from Banks		 245 293 259
Restricted Cash		 68 76 70
Trading Account Securities		 1,041 142 261
Loans and Leases, Net of Allowance		 0.00 0.00 0.00
Goodwill		 23 23 23
Other Assets		 16,881 13,970 12,397
Total Liabilities & Shareholders' Equity		 18,258 14,504 13,031
Total Liabilities		 17,070 13,302 11,947
Long-Term Debt		 16,733 13,051 9,720
Other Long-Term Liabilities		 337 251 -
Commitments & Contingencies		 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 1,188 1,203 1,084
Total Preferred & Common Equity		 1,188 1,203 1,084
Preferred Stock		 67 67 0.00
Total Common Equity		 1,121 1,136 1,084
Common Stock		 2,505 2,489 2,351
Retained Earnings		 -1,341 -1,295 -1,198
Accumulated Other Comprehensive Income / (Loss)		 -43 -58 -69

Quarterly Balance Sheets for Redwood Trust

This table presents Redwood Trust's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2024 Q2 2024 Q1 2024 Q3 2023 Q2 2023 Q1 2023 Q3 2022
Period end date 9/30/2024 6/30/2024 3/31/2024 9/30/2023 6/30/2023 3/31/2023 9/30/2022
Total Assets		 18,427 16,491 15,058 13,021 12,797 13,121 13,146
Cash and Due from Banks		 254 276 275 204 357 404 297
Restricted Cash		 72 64 65 56 90 86 72
Trading Account Securities		 413 313 215 167 187 255 324
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other Assets		 17,688 15,686 14,315 12,529 12,097 12,325 12,472
Total Liabilities & Shareholders' Equity		 18,427 16,491 15,058 13,021 12,797 13,121 13,146
Total Liabilities		 17,204 15,270 13,834 11,915 11,673 11,984 11,992
Long-Term Debt		 16,821 14,970 12,335 10,222 9,985 10,180 9,674
Other Long-Term Liabilities		 383 - - - - - -
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 1,223 1,221 1,224 1,106 1,124 1,138 1,154
Total Preferred & Common Equity		 1,223 1,221 1,224 1,106 1,124 1,138 1,154
Preferred Stock		 67 67 67 67 67 67 -
Total Common Equity		 1,156 1,154 1,157 1,039 1,057 1,071 1,154
Common Stock		 2,503 2,499 2,495 2,396 2,360 2,356 2,346
Retained Earnings		 -1,308 -1,297 -1,289 -1,293 -1,241 -1,222 -1,127
Accumulated Other Comprehensive Income / (Loss)		 -39 -47 -49 -65 -62 -63 -65

Annual Metrics And Ratios for Redwood Trust

This table displays calculated financial ratios and metrics derived from Redwood Trust's official financial filings.

Metric 2024 2023 2022
Period end date 12/31/2024 12/31/2023 12/31/2022
Growth Metrics		 - - -
Revenue Growth		 55.11% 2,392.47% -101.33%
EBITDA Growth		 201.63% 119.92% -146.73%
EBIT Growth		 11,499.22% 99.65% -154.26%
NOPAT Growth		 12,173.33% 99.65% -140.18%
Net Income Growth		 2,474.85% 98.61% -151.16%
EPS Growth		 390.91% 92.31% -160.34%
Operating Cash Flow Growth		 -190.83% -1,348.77% 97.56%
Free Cash Flow Firm Growth		 -157.46% -194.91% 137.32%
Invested Capital Growth		 25.73% 10.92% -11.12%
Revenue Q/Q Growth		 -6.85% 74.04% -107.54%
EBITDA Q/Q Growth		 -20.21% 174.84% -120.45%
EBIT Q/Q Growth		 -23.51% 99.16% -125.55%
NOPAT Q/Q Growth		 -33.87% 99.16% -125.55%
Net Income Q/Q Growth		 -33.87% 96.62% -116.82%
EPS Q/Q Growth		 -42.86% 83.08% -101.41%
Operating Cash Flow Q/Q Growth		 4.78% -129.81% 93.19%
Free Cash Flow Firm Q/Q Growth		 29.83% -1,884.20% 871.83%
Invested Capital Q/Q Growth		 -0.68% 11.25% -0.73%
Profitability Metrics		 - - -
EBITDA Margin		 37.72% 19.40% 0.00%
EBIT Margin		 28.35% -0.39% 0.00%
Profit (Net Income) Margin		 21.02% -1.37% 0.00%
Tax Burden Percent		 74.14% 355.87% 89.14%
Interest Burden Percent		 100.00% 100.00% 100.00%
Effective Tax Rate		 25.86% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.34% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.34% -0.02% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 4.18% -0.20% 0.00%
Return on Equity (ROE)		 4.52% -0.20% -13.24%
Cash Return on Invested Capital (CROIC)		 -22.46% -10.36% 10.83%
Operating Return on Assets (OROA)		 0.44% 0.00% 0.00%
Return on Assets (ROA)		 0.33% -0.02% 0.00%
Return on Common Equity (ROCE)		 4.27% -0.19% -13.24%
Return on Equity Simple (ROE_SIMPLE)		 4.55% -0.19% -15.09%
Net Operating Profit after Tax (NOPAT)		 54 -0.45 -128
NOPAT Margin		 21.02% -0.27% 0.00%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.01% 0.28%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 71.65% 100.39% 0.00%
Earnings before Interest and Taxes (EBIT)		 73 -0.64 -183
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 97 32 -161
Valuation Ratios		 - - -
Price to Book Value (P/BV)		 0.77 0.70 0.58
Price to Tangible Book Value (P/TBV)		 0.79 0.72 0.61
Price to Revenue (P/Rev)		 3.36 4.80 0.00
Price to Earnings (P/E)		 18.38 0.00 0.00
Dividend Yield		 10.26% 10.59% 16.69%
Earnings Yield		 5.44% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.97 0.95 0.94
Enterprise Value to Revenue (EV/Rev)		 67.54 81.78 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 179.04 421.57 0.00
Enterprise Value to EBIT (EV/EBIT)		 238.20 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 321.29 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 8.16
Leverage & Solvency		 - - -
Debt to Equity		 14.09 10.85 10.86
Long-Term Debt to Equity		 14.09 10.85 8.97
Financial Leverage		 12.46 10.85 10.06
Leverage Ratio		 13.71 12.04 11.23
Compound Leverage Factor		 13.71 12.04 11.23
Debt to Total Capital		 93.37% 91.56% 91.56%
Short-Term Debt to Total Capital		 0.00% 0.00% 15.93%
Long-Term Debt to Total Capital		 93.37% 91.56% 75.64%
Preferred Equity to Total Capital		 0.37% 0.47% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00%
Common Equity to Total Capital		 6.25% 7.97% 8.44%
Debt to EBITDA		 172.66 406.21 -72.97
Net Debt to EBITDA		 169.43 394.73 -70.92
Long-Term Debt to EBITDA		 172.66 406.21 -60.27
Debt to NOPAT		 309.85 -29,177.29 -91.64
Net Debt to NOPAT		 304.05 -28,352.82 -89.07
Long-Term Debt to NOPAT		 309.85 -29,177.29 -75.70
Noncontrolling Interest Sharing Ratio		 5.60% 2.93% 0.00%
Liquidity Ratios		 - - -
Cash Flow Metrics		 - - -
Free Cash Flow to Firm (FCFF)		 -3,613 -1,403 1,479
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 -4.29 -2.22 2.68
Operating Cash Flow to Interest Expense		 -6.96 -3.19 -0.25
Operating Cash Flow Less CapEx to Interest Expense		 -6.96 -3.19 -0.25
Efficiency Ratios		 - - -
Asset Turnover		 0.02 0.01 0.00
Fixed Asset Turnover		 0.00 0.00 0.00
Capital & Investment Metrics		 - - -
Invested Capital		 17,921 14,254 12,851
Invested Capital Turnover		 0.02 0.01 0.00
Increase / (Decrease) in Invested Capital		 3,667 1,403 -1,607
Enterprise Value (EV)		 17,351 13,545 12,062
Market Capitalization		 864 795 625
Book Value per Share		 $8.47 $9.57 $9.56
Tangible Book Value per Share		 $8.30 $9.38 $9.00
Total Capital		 17,921 14,254 12,851
Total Debt		 16,733 13,051 11,767
Total Long-Term Debt		 16,733 13,051 9,720
Net Debt		 16,420 12,682 11,437
Capital Expenditures (CapEx)		 0.00 0.00 0.00
Net Nonoperating Expense (NNE)		 0.00 1.83 35
Net Nonoperating Obligations (NNO)		 16,733 13,051 11,767
Total Depreciation and Amortization (D&A)		 24 33 22
Earnings Adjustments		 - - -
Adjusted Basic Earnings per Share		 $0.32 ($0.11) ($1.43)
Adjusted Weighted Average Basic Shares Outstanding		 132.05M 116.28M 117.23M
Adjusted Diluted Earnings per Share		 $0.32 ($0.11) ($1.43)
Adjusted Weighted Average Diluted Shares Outstanding		 132.14M 116.28M 117.23M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 132.86M 131.58M 113.59M
Normalized Net Operating Profit after Tax (NOPAT)		 63 4.57 -120
Normalized NOPAT Margin		 24.68% 2.76% 0.00%
Pre Tax Income Margin		 28.35% -0.39% 0.00%
Debt Service Ratios		 - - -
EBIT to Interest Expense		 0.09 0.00 -0.33
NOPAT to Interest Expense		 0.06 0.00 -0.23
EBIT Less CapEx to Interest Expense		 0.09 0.00 -0.33
NOPAT Less CapEx to Interest Expense		 0.06 0.00 -0.23
Payout Ratios		 - - -
Dividend Payout Ratio		 185.01% -4,115.00% -68.29%
Augmented Payout Ratio		 185.01% -4,115.00% -102.84%

Quarterly Metrics And Ratios for Redwood Trust

This table displays calculated financial ratios and metrics derived from Redwood Trust's official financial filings.

Metric Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 -29.46% 548.15% 55.89% 56.83% 1,102.55% 588.95% 161.37% -33.85% -106.61% -101.57%
EBITDA Growth		 -82.97% 223.70% 139.38% 201.16% 165.06% 46.47% 110.68% -51.87% -206.65% -147.33%
EBIT Growth		 -101.62% 175.41% 595.38% 780.33% 141.19% 40.58% 102.69% -87.71% -210.03% -158.35%
NOPAT Growth		 -101.18% 172.75% 440.69% 555.02% 156.20% 40.58% 103.75% -85.06% -185.02% -138.85%
Net Income Growth		 -131.45% 148.12% 440.69% 555.02% 147.76% 38.88% 102.87% -85.06% -200.03% -157.10%
EPS Growth		 -150.00% 131.03% 0.00% 950.00% 142.11% 34.09% 100.00% -91.67% -211.76% -167.69%
Operating Cash Flow Growth		 25.63% -134.38% -2,406.37% -1,035.38% -11,729.05% -346.58% 60.61% 134.97% 99.49% 132.03%
Free Cash Flow Firm Growth		 -165.38% -4,774.17% -422.86% -272.35% -188.04% 166.05% 157.09% 132.13% 137.04% 93.17%
Invested Capital Growth		 25.73% 40.83% 28.87% 14.46% 10.92% -1.02% -8.16% -7.59% -11.12% 1.05%
Revenue Q/Q Growth		 -35.18% 3.37% -9.53% 16.35% 495.64% -75.14% -8.98% 843.78% -190.50% 96.88%
EBITDA Q/Q Growth		 -80.99% 0.81% -32.78% 32.16% 238.13% -295.08% -15.44% 128.55% -13.66% 61.06%
EBIT Q/Q Growth		 -101.62% 7.31% -33.55% 39.70% 175.69% -1,089.60% -15.87% 106.54% -9.18% 55.22%
NOPAT Q/Q Growth		 -101.68% -4.56% -48.67% 43.81% 203.25% -809.36% -37.81% 112.34% -9.18% 55.22%
Net Income Q/Q Growth		 -144.64% -4.56% -48.67% 43.81% 168.30% -1,172.40% -37.81% 110.49% 12.60% 49.57%
EPS Q/Q Growth		 -188.89% -10.00% -52.38% 31.25% 155.17% 0.00% -100.00% 105.26% 13.64% 48.24%
Operating Cash Flow Q/Q Growth		 59.11% -6.22% -106.04% 16.91% -28.88% -1,035.94% -176.90% 1,150.77% -102.69% 281.48%
Free Cash Flow Firm Q/Q Growth		 29.69% -44.39% -96.18% -30.07% -1,338.33% -90.03% 4.73% -31.93% 1,029.08% 91.38%
Invested Capital Q/Q Growth		 -0.68% 11.40% 9.31% 3.70% 11.25% 1.94% -2.91% 0.73% -0.73% -5.41%
Profitability Metrics		 - - - - - - - - - -
EBITDA Margin		 11.15% 38.00% 38.97% 52.45% 46.17% -199.11% 25.38% 27.31% 0.00% 0.00%
EBIT Margin		 -0.79% 31.49% 30.33% 41.30% 34.39% -270.65% 6.80% 7.36% 0.00% 0.00%
Profit (Net Income) Margin		 -14.64% 21.26% 23.03% 40.59% 32.84% -286.42% 6.64% 9.72% 0.00% 0.00%
Tax Burden Percent		 1,858.99% 67.53% 75.93% 98.30% 95.49% 105.83% 97.65% 132.11% 82.36% 102.89%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 0.00% 32.47% 24.07% 1.70% 4.51% 0.00% 2.35% -32.11% 0.00% 0.00%
Return on Invested Capital (ROIC)		 -0.01% 0.38% 0.35% 0.56% 0.40% -1.40% 0.04% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 -0.05% 0.38% 0.35% 0.56% 0.40% -1.49% 0.04% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 -0.64% 4.66% 3.91% 6.06% 4.36% -15.48% 0.42% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 -0.65% 5.04% 4.26% 6.62% 4.76% -16.88% 0.46% -14.70% -13.24% 0.00%
Cash Return on Invested Capital (CROIC)		 -22.46% -33.38% -24.98% -13.32% -10.36% 0.61% 7.99% 6.81% 10.83% -1.49%
Operating Return on Assets (OROA)		 -0.01% 0.55% 0.45% 0.56% 0.41% -1.97% 0.04% 0.00% 0.00% 0.00%
Return on Assets (ROA)		 -0.23% 0.37% 0.34% 0.56% 0.40% -2.08% 0.04% 0.00% 0.00% 0.00%
Return on Common Equity (ROCE)		 -0.61% 4.75% 4.02% 6.25% 4.62% -16.38% 0.45% -14.32% -13.24% 0.00%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 6.68% 2.95% 1.91% 0.00% -6.09% -7.74% -16.68% 0.00% -6.53%
Net Operating Profit after Tax (NOPAT)		 -0.25 15 16 30 21 -20 2.87 4.62 -37 -34
NOPAT Margin		 -0.55% 21.26% 23.03% 40.59% 32.84% -189.46% 6.64% 9.72% 0.00% 0.00%
Net Nonoperating Expense Percent (NNEP)		 0.04% 0.00% 0.00% 0.00% 0.00% 0.09% 0.00% 0.00% 0.05% 0.14%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 100.79% 68.51% 69.67% 58.71% 65.61% 370.65% 93.20% 92.64% 0.00% 0.00%
Earnings before Interest and Taxes (EBIT)		 -0.36 22 20 31 22 -29 2.94 3.50 -53 -49
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 5.04 26 26 39 30 -21 11 13 -45 -40
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 0.77 0.88 0.74 0.71 0.70 0.71 0.63 0.63 0.58 0.48
Price to Tangible Book Value (P/TBV)		 0.79 0.88 0.74 0.74 0.72 0.75 0.66 0.67 0.61 0.51
Price to Revenue (P/Rev)		 3.36 3.71 3.96 4.24 4.80 7.79 8.04 0.00 0.00 5.80
Price to Earnings (P/E)		 18.38 13.69 29.56 49.99 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 10.26% 8.41% 9.86% 10.30% 10.59% 12.02% 14.66% 15.38% 16.69% 19.34%
Earnings Yield		 5.44% 7.30% 3.38% 2.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.97 0.97 0.96 0.95 0.95 0.96 0.93 0.93 0.94 0.93
Enterprise Value to Revenue (EV/Rev)		 67.54 63.76 71.77 73.38 81.78 128.78 142.63 0.00 0.00 125.02
Enterprise Value to EBITDA (EV/EBITDA)		 179.04 144.77 211.58 242.71 421.57 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 238.20 184.64 352.35 530.48 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 321.29 215.32 431.91 604.96 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 31.25 47.39 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 155.80 11.18 13.14 8.16 0.00
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 14.09 13.75 12.27 11.10 10.85 10.59 10.18 10.38 10.86 10.22
Long-Term Debt to Equity		 14.09 13.75 12.26 10.08 10.85 9.24 8.88 8.95 8.97 8.38
Financial Leverage		 12.46 12.25 11.27 10.75 10.85 10.40 10.02 9.44 10.06 9.18
Leverage Ratio		 13.71 13.50 12.49 11.93 12.04 11.58 11.20 10.60 11.23 10.36
Compound Leverage Factor		 13.71 13.50 12.49 11.93 12.04 11.58 11.20 10.60 11.23 10.36
Debt to Total Capital		 93.37% 93.22% 92.46% 91.74% 91.56% 91.37% 91.06% 91.21% 91.56% 91.08%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.04% 8.49% 0.00% 11.59% 11.61% 12.57% 15.93% 16.35%
Long-Term Debt to Total Capital		 93.37% 93.22% 92.43% 83.25% 91.56% 79.78% 79.44% 78.64% 75.64% 74.73%
Preferred Equity to Total Capital		 0.37% 0.37% 0.41% 0.45% 0.47% 0.52% 0.53% 0.52% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 6.25% 6.41% 7.12% 7.81% 7.97% 8.11% 8.41% 8.27% 8.44% 8.92%
Debt to EBITDA		 172.66 138.49 203.62 233.37 406.21 -272.70 -186.02 -67.37 -72.97 -161.18
Net Debt to EBITDA		 169.43 135.81 199.01 227.53 394.73 -266.65 -178.76 -64.57 -70.92 -156.13
Long-Term Debt to EBITDA		 172.66 138.49 203.54 211.78 406.21 -238.10 -162.30 -58.09 -60.27 -132.24
Debt to NOPAT		 309.85 205.98 415.67 581.68 -29,177.29 -219.57 -170.22 -80.94 -91.64 -207.10
Net Debt to NOPAT		 304.05 201.98 406.25 567.11 -28,352.82 -214.70 -163.57 -77.58 -89.07 -200.62
Long-Term Debt to NOPAT		 309.85 205.98 415.50 527.87 -29,177.29 -191.71 -148.51 -69.78 -75.70 -169.92
Noncontrolling Interest Sharing Ratio		 5.60% 5.75% 5.71% 5.67% 2.93% 2.96% 2.81% 2.59% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -3,668 -5,216 -3,613 -1,842 -1,382 112 1,119 1,068 1,570 -169
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 -15.36 -23.38 -18.05 -10.20 -8.14 0.71 7.32 7.03 10.72 -1.18
Operating Cash Flow to Interest Expense		 -3.58 -9.36 -9.82 -5.29 -6.76 -5.69 -0.51 0.67 -0.07 2.53
Operating Cash Flow Less CapEx to Interest Expense		 -3.58 -9.36 -9.82 -5.29 -6.76 -5.69 -0.51 0.67 -0.07 2.53
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.02 0.02 0.01 0.01 0.01 0.01 0.01 0.00 0.00 0.01
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 17,921 18,044 16,197 14,817 14,254 12,813 12,569 12,945 12,851 12,945
Invested Capital Turnover		 0.02 0.02 0.02 0.01 0.01 0.01 0.01 0.00 0.00 0.01
Increase / (Decrease) in Invested Capital		 3,667 5,231 3,628 1,872 1,403 -132 -1,116 -1,064 -1,607 135
Enterprise Value (EV)		 17,351 17,584 15,561 14,137 13,545 12,255 11,726 12,063 12,062 11,977
Market Capitalization		 864 1,022 858 817 795 741 661 679 625 555
Book Value per Share		 $8.47 $8.74 $8.73 $8.80 $9.57 $9.09 $9.27 $9.43 $9.56 $9.89
Tangible Book Value per Share		 $8.30 $8.74 $8.73 $8.42 $9.38 $8.61 $8.76 $8.89 $9.00 $9.31
Total Capital		 17,921 18,044 16,197 14,817 14,254 12,813 12,569 12,945 12,851 12,945
Total Debt		 16,733 16,821 14,976 13,593 13,051 11,707 11,444 11,807 11,767 11,791
Total Long-Term Debt		 16,733 16,821 14,970 12,335 13,051 10,222 9,985 10,180 9,720 9,674
Net Debt		 16,420 16,495 14,637 13,252 12,682 11,447 10,998 11,317 11,437 11,421
Capital Expenditures (CapEx)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Expense (NNE)		 6.37 0.00 0.00 0.00 0.00 10 0.00 0.00 6.61 16
Net Nonoperating Obligations (NNO)		 16,733 16,821 14,976 13,593 13,051 11,707 11,444 11,807 11,767 11,791
Total Depreciation and Amortization (D&A)		 5.39 4.54 5.82 8.31 7.55 7.70 8.04 9.49 8.02 8.98
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.08) $0.09 $0.10 $0.21 $0.16 ($0.29) $0.00 $0.02 ($0.39) ($0.44)
Adjusted Weighted Average Basic Shares Outstanding		 132.05M 132.22M 132.12M 131.57M 116.28M 115.47M 114.05M 113.68M 117.23M 116.09M
Adjusted Diluted Earnings per Share		 ($0.08) $0.09 $0.10 $0.21 $0.16 ($0.29) $0.00 $0.02 ($0.38) ($0.44)
Adjusted Weighted Average Diluted Shares Outstanding		 132.14M 132.36M 132.12M 131.57M 116.28M 115.47M 114.45M 114.13M 117.23M 116.09M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 132.86M 132.27M 132.22M 132.15M 131.58M 118.64M 114.23M 114.03M 113.59M 113.35M
Normalized Net Operating Profit after Tax (NOPAT)		 2.27 17 18 32 23 -19 4.28 3.35 -36 -33
Normalized NOPAT Margin		 5.02% 24.34% 27.16% 43.54% 36.65% -177.22% 9.90% 7.05% 0.00% 0.00%
Pre Tax Income Margin		 -0.79% 31.49% 30.33% 41.30% 34.39% -270.65% 6.80% 7.36% 0.00% 0.00%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.10 0.10 0.17 0.13 -0.19 0.02 0.02 -0.37 -0.34
NOPAT to Interest Expense		 0.00 0.07 0.08 0.17 0.12 -0.13 0.02 0.03 -0.26 -0.24
EBIT Less CapEx to Interest Expense		 0.00 0.10 0.10 0.17 0.13 -0.19 0.02 0.02 -0.37 -0.34
NOPAT Less CapEx to Interest Expense		 0.00 0.07 0.08 0.17 0.12 -0.13 0.02 0.03 -0.26 -0.24
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 185.01% 118.47% 257.93% 384.61% -4,115.00% -143.76% -118.49% -58.19% -68.29% -148.74%
Augmented Payout Ratio		 185.01% 118.47% 257.93% 384.61% -4,115.00% -143.76% -118.49% -58.19% -102.84% -223.65%

Frequently Asked Questions About Redwood Trust's Financials

When does Redwood Trust's financial year end?

According to the most recent income statement we have on file, Redwood Trust's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Redwood Trust's net income changed over the last 2 years?

Redwood Trust's net income appears to be on a downward trend, with a most recent value of $54.00 million in 2024, falling from -$163.52 million in 2022. The previous period was -$2.27 million in 2023. See where experts think Redwood Trust is headed by visiting Redwood Trust's forecast page.

How has Redwood Trust revenue changed over the last 2 years?

Over the last 2 years, Redwood Trust's total revenue changed from -$7.23 million in 2022 to $256.91 million in 2024, a change of -3,655.9%.

How much debt does Redwood Trust have?

Redwood Trust's total liabilities were at $17.07 billion at the end of 2024, a 28.3% increase from 2023, and a 42.9% increase since 2022.

How much cash does Redwood Trust have?

In the past 2 years, Redwood Trust's cash and equivalents has ranged from $245.17 million in 2024 to $293.10 million in 2023, and is currently $245.17 million as of their latest financial filing in 2024.

How has Redwood Trust's book value per share changed over the last 2 years?

Over the last 2 years, Redwood Trust's book value per share changed from 9.56 in 2022 to 8.47 in 2024, a change of -11.4%.


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This page (NYSE:RWT) was last updated on 5/25/2025 by MarketBeat.com Staff
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