REDWOOD TRUST INC (RWT)
Q1-CY2026Q4-CY2025Q3-CY2025Q2-CY2025Q1-CY2025Q4-CY2024Q3-CY2024Q2-CY2024Q1-CY2024Q4-CY2023Q3-CY2023Q2-CY2023Q1-CY2023Q4-CY2022Q3-CY2022Q2-CY2022Q1-CY2022Q4-CY2021Q3-CY2021Q2-CY2021Q1-CY2021Q4-CY2020Q3-CY2020Q2-CY2020Q1-CY2020Q4-CY2019Q3-CY2019Q2-CY2019Q1-CY2019Q4-CY2018Q3-CY2018Q2-CY2018Q1-CY2018Q4-CY2017Q3-CY2017Q2-CY2017Q1-CY2017Q4-CY2016Q3-CY2016Q2-CY2016Q1-CY2016Q4-CY2015Q3-CY2015Q2-CY2015Q1-CY2015Q4-CY2014Q3-CY2014Q2-CY2014Q1-CY2014
Balance Sheet Date2025-Dec-312025-Sep-302025-Jun-302025-Mar-312024-Dec-312024-Sep-302024-Jun-302024-Mar-312023-Dec-312023-Sep-302023-Jun-302023-Mar-312022-Dec-312022-Sep-302022-Jun-302022-Mar-312021-Dec-312021-Sep-302021-Jun-302021-Mar-312020-Dec-312020-Sep-302020-Jun-302020-Mar-312019-Dec-312019-Sep-302019-Jun-302019-Mar-312018-Dec-312018-Sep-302018-Jun-302018-Mar-312017-Dec-312017-Sep-302017-Jun-302017-Mar-312016-Dec-312016-Sep-302016-Jun-302016-Mar-312015-Dec-312015-Sep-302015-Jun-302015-Mar-312014-Dec-312014-Sep-302014-Jun-302014-Mar-31
Fiscal PeriodQ4-FY2025Q3-FY2025Q2-FY2025Q1-FY2025Q4-FY2024Q3-FY2024Q2-FY2024Q1-FY2024Q4-FY2023Q3-FY2023Q2-FY2023Q1-FY2023Q4-FY2022Q3-FY2022Q2-FY2022Q1-FY2022Q4-FY2021Q3-FY2021Q2-FY2021Q1-FY2021Q4-FY2020Q3-FY2020Q2-FY2020Q1-FY2020Q4-FY2019Q3-FY2019Q2-FY2019Q1-FY2019Q4-FY2018Q3-FY2018Q2-FY2018Q1-FY2018Q4-FY2017Q3-FY2017Q2-FY2017Q1-FY2017Q4-FY2016Q3-FY2016Q2-FY2016Q1-FY2016Q4-FY2015Q3-FY2015Q2-FY2015Q1-FY2015Q4-FY2014Q3-FY2014Q2-FY2014Q1-FY2014
Total Revenue25,927,000$14,994,000$13,834,000$27,942,000$27,607,000$25,498,000$67,447,000$74,549,000$64,073,000$10,757,000$43,266,000$47,535,000$(6,391,000$)(2,200,000$)(70,495,000$)71,861,000$96,637,000$140,299,000$145,039,000$160,006,000$100,944,000$188,501,000$200,656,000$(841,544,000$)102,925,000$63,542,000$62,306,000$79,544,000$17,226,000$67,373,000$54,290,000$74,777,000$46,311,000$61,364,000$60,287,000$61,352,000$45,560,000$73,021,000$55,231,000$42,832,000$63,383,000$36,197,000$54,469,000$34,754,000$52,034,000$68,520,000$38,317,000$31,745,000$
QoQ%72.92%8.39%(50.49%)1.21%8.27%(62.20%)(9.53%)16.35%495.64%(75.14%)(8.98%)843.78%(190.50%)96.88%(198.10%)(25.64%)(31.12%)(3.27%)(9.35%)58.51%(46.45%)(6.06%)123.84%(917.63%)61.98%1.98%(21.67%)361.77%(74.43%)24.10%(27.40%)61.47%(24.53%)1.79%(1.74%)34.66%(37.61%)32.21%28.95%(32.42%)75.11%(33.55%)56.73%(33.21%)(24.06%)78.82%20.70%(49.52%)
YoY%(6.09%)(41.20%)(79.49%)(62.52%)(56.91%)137.04%55.89%56.83%1,102.55%588.96%161.38%(33.85%)(106.61%)(101.57%)(148.60%)(55.09%)(4.27%)(25.57%)(27.72%)119.01%(1.93%)196.66%222.05%(1,157.96%)497.50%(5.69%)14.77%6.38%(62.80%)9.79%(9.95%)21.88%1.65%(15.96%)9.15%43.24%(28.12%)101.73%1.40%23.24%21.81%(47.17%)42.15%9.48%(17.25%)66.96%(57.35%)(66.14%)
Cost Of Revenue0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$(859,000$)(6,532,000$)289,000$(240,000$)(60,000$)(261,000$)206,000$1,590,000$(1,596,000$)(315,000$)1,284,000$
Gross Profit25,927,000$14,994,000$13,834,000$27,942,000$27,607,000$25,498,000$67,447,000$74,549,000$64,073,000$10,757,000$43,266,000$47,535,000$(6,391,000$)(2,200,000$)(70,495,000$)71,861,000$96,637,000$140,299,000$145,039,000$160,006,000$100,944,000$188,501,000$200,656,000$(841,544,000$)102,925,000$63,542,000$62,306,000$79,544,000$17,226,000$67,373,000$54,290,000$74,777,000$46,311,000$61,364,000$60,287,000$61,352,000$45,560,000$73,880,000$61,763,000$42,543,000$63,623,000$36,257,000$54,730,000$34,548,000$50,444,000$70,116,000$38,632,000$30,461,000$
Gross Margin100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%101.18%111.83%99.33%100.38%100.17%100.48%99.41%96.94%102.33%100.82%95.96%
Operating Expenses43,058,000$41,036,000$39,690,000$40,224,000$35,317,000$38,824,000$46,989,000$43,764,000$42,037,000$39,871,000$40,324,000$44,038,000$47,103,000$46,794,000$38,914,000$43,404,000$48,021,000$56,336,000$48,327,000$51,206,000$38,178,000$37,576,000$35,175,000$124,083,000$49,444,000$29,346,000$28,707,000$24,197,000$19,378,000$21,561,000$19,009,000$23,030,000$20,367,000$19,922,000$18,641,000$18,226,000$17,824,000$20,355,000$20,155,000$30,452,000$22,638,000$24,497,000$25,218,000$25,063,000$26,462,000$21,406,000$22,282,000$19,973,000$
Operating Income
Operating Margin
Interest Income
Interest Expenses301,038,000$284,537,000$270,502,000$244,152,000$238,757,000$223,145,000$200,124,000$180,530,000$169,832,000$156,723,000$152,885,000$152,079,000$146,408,000$142,727,000$126,967,000$136,298,000$112,378,000$103,754,000$108,065,000$102,552,000$98,257,000$100,411,000$102,666,000$146,671,000$147,708,000$116,604,000$116,220,000$99,276,000$84,961,000$64,351,000$48,213,000$41,514,000$36,108,000$27,443,000$24,234,000$21,031,000$20,537,000$21,597,000$22,444,000$23,950,000$25,039,000$23,875,000$23,008,000$23,961,000$23,903,000$23,350,000$21,151,000$19,059,000$
Income Before Tax28,031,000$(1,351,000$)(93,930,000$)22,409,000$(356,000$)21,954,000$20,458,000$30,785,000$22,036,000$(29,114,000$)2,942,000$3,497,000$(53,494,000$)(48,994,000$)(109,409,000$)28,457,000$48,616,000$83,963,000$96,712,000$108,800,000$62,766,000$150,925,000$165,481,000$(965,627,000$)53,481,000$34,196,000$33,599,000$55,347,000$(2,168,000$)45,840,000$35,275,000$51,741,000$25,944,000$41,442,000$41,646,000$43,126,000$27,736,000$53,525,000$41,608,000$12,091,000$40,985,000$11,760,000$29,512,000$9,485,000$24,163,000$50,310,000$16,350,000$10,490,000$
Tax Expenses8,008,000$6,353,000$4,562,000$6,262,000$6,262,000$7,128,000$4,924,000$523,000$993,000$1,696,000$69,000$(1,123,000$)(9,436,000$)1,417,000$(9,443,000$)(2,458,000$)4,571,000$(4,323,000$)6,687,000$11,543,000$8,471,000$9,113,000$37,000$(22,229,000$)4,338,000$(114,000$)2,333,000$883,000$(1,255,000$)4,919,000$2,528,000$4,896,000$(4,989,000$)5,262,000$5,322,000$6,157,000$2,381,000$972,000$327,000$28,000$(74,000$)(7,404,000$)2,448,000$(5,316,000$)(2,959,000$)5,213,000$333,000$(1,843,000$)
Net Income20,023,000$(7,704,000$)(98,492,000$)16,147,000$(6,618,000$)14,826,000$15,534,000$30,262,000$21,043,000$(30,810,000$)2,873,000$4,620,000$(44,058,000$)(50,411,000$)(99,966,000$)30,915,000$44,045,000$88,286,000$90,025,000$97,257,000$54,295,000$141,812,000$165,444,000$(943,398,000$)49,143,000$34,310,000$31,266,000$54,464,000$(913,000$)40,921,000$32,747,000$46,845,000$30,933,000$36,180,000$36,324,000$36,969,000$25,355,000$52,553,000$41,281,000$12,063,000$41,059,000$19,164,000$27,064,000$14,801,000$27,122,000$45,097,000$16,017,000$12,333,000$
Profit Margin77.23%(51.38%)(711.96%)57.79%(23.97%)58.15%23.03%40.59%32.84%(286.42%)6.64%9.72%689.38%2,291.41%141.81%43.02%45.58%62.93%62.07%60.78%53.79%75.23%82.45%112.10%47.75%54.00%50.18%68.47%(5.30%)60.74%60.32%62.65%66.79%58.96%60.25%60.26%55.65%71.97%74.74%28.16%64.78%52.94%49.69%42.59%52.12%65.82%41.80%38.85%
TTM(84.68%)(114.57%)(78.14%)26.86%27.68%35.27%16.62%12.13%(1.37%)(70.80%)(105.80%)601.61%2,263.25%(78.72%)26.56%55.81%58.97%60.38%64.49%70.57%165.56%167.97%146.39%135.24%54.87%53.51%55.53%58.24%55.98%62.39%61.97%61.91%61.23%58.99%62.94%66.40%60.58%62.68%57.46%50.46%54.07%49.68%54.38%53.22%52.76%48.93%43.35%55.42%
Earnings to Minority1,758,000$1,750,000$1,757,000$1,750,000$1,758,000$1,750,000$1,757,000$1,750,000$1,757,000$1,750,000$1,758,000$1,419,000$4,335,000$1,158,000$1,159,000$1,209,000$(8,979,000$)2,984,000$3,149,000$3,294,000$563,000$4,067,000$4,528,000$1,209,000$1,537,000$856,000$877,000$1,539,000$(12,000$)1,231,000$1,074,000$1,433,000$832,000$948,000$884,000$968,000$702,000$1,485,000$1,089,000$701,000$878,000$553,000$642,000$822,000$793,000$1,054,000$537,000$702,000$
Earnings to Common Shareholders18,265,000$(9,454,000$)(100,249,000$)14,397,000$(8,376,000$)13,076,000$13,777,000$28,512,000$19,286,000$(32,560,000$)1,115,000$3,201,000$(44,058,000$)(50,411,000$)(99,966,000$)30,915,000$53,024,000$85,302,000$86,876,000$93,963,000$53,732,000$137,745,000$160,916,000$(944,607,000$)47,606,000$33,454,000$30,389,000$52,925,000$(901,000$)39,690,000$31,673,000$45,412,000$30,101,000$35,232,000$35,440,000$36,001,000$24,653,000$51,068,000$40,192,000$11,362,000$40,181,000$18,611,000$26,422,000$13,979,000$26,329,000$44,043,000$15,480,000$11,631,000$
QoQ%293.20%90.57%(796.32%)271.88%(164.06%)(5.09%)(51.68%)47.84%159.23%(3,020.18%)(65.17%)107.27%12.60%49.57%(423.36%)(41.70%)(37.84%)(1.81%)(7.54%)74.87%(60.99%)(14.40%)117.04%(2,084.22%)42.30%10.09%(42.58%)5,974.03%(102.27%)25.31%(30.25%)50.87%(14.56%)(.59%)(1.56%)46.03%(51.73%)27.06%253.74%(71.72%)115.90%(29.56%)89.01%(46.91%)(40.22%)184.52%33.09%(53.73%)
YoY%318.06%(172.30%)(827.66%)(49.51%)(143.43%)140.16%1,135.61%790.72%143.77%35.41%101.12%(89.65%)(183.09%)(159.10%)(215.07%)(67.10%)(1.32%)(38.07%)(46.01%)109.95%12.87%311.74%429.52%(1,884.80%)5,383.69%(15.71%)(4.05%)16.54%(102.99%)12.65%(10.63%)26.14%22.10%(31.01%)(11.82%)216.85%(38.65%)174.40%52.12%(18.72%)52.61%(57.74%)70.69%20.19%4.75%100.84%(76.39%)(80.67%)
Earnings Per Share, Basic0.14$(0.07$)(0.75$)0.11$(0.06$)0.10$0.10$0.22$0.16$(0.28$)0.01$0.03$(0.39$)(0.43$)(0.84$)0.26$0.46$0.75$0.77$0.84$0.47$1.21$1.41$(8.28$)0.42$0.33$0.31$0.57$(0.01$)0.49$0.42$0.60$0.39$0.46$0.46$0.47$0.32$0.67$0.52$0.15$0.50$0.22$0.31$0.17$0.32$0.53$0.19$0.14$
Earnings Per Share, Diluted0.14$(0.07$)(0.75$)0.11$(0.06$)0.10$0.10$0.22$0.16$(0.28$)0.01$0.03$(0.48$)(0.43$)(0.84$)0.22$0.37$0.60$0.61$0.67$1.02$0.97$1.09$(8.28$)0.31$0.25$0.23$0.42$(0.01$)0.35$0.32$0.42$0.27$0.34$0.36$0.37$0.21$0.52$0.41$0.15$0.55$0.22$0.28$0.16$0.36$0.45$0.18$0.14$
Unlevered FCF Per Share, Basic(26.63$)(20.68$)(15.89$)(14.71$)(6.45$)(15.79$)(14.88$)(7.25$)(9.42$)(7.72$)(0.69$)0.90$(0.09$)3.11$(1.66$)(2.43$)(16.69$)(9.98$)(14.93$)(8.61$)(2.89$)(2.04$)2.60$(2.12$)0.32$(6.31$)(3.63$)(2.23$)(2.98$)(8.52$)(7.05$)(1.90$)(14.12$)(4.71$)(6.78$)3.31$2.75$(5.16$)(6.09$)1.37$(2.48$)(9.11$)(1.99$)(1.43$)(3.10$)(9.00$)(4.65$)(4.87$)
Unlevered FCF Per Share, Diluted(26.63$)(20.68$)(15.89$)(14.71$)(6.44$)(15.78$)(14.88$)(7.25$)(9.48$)(7.72$)(0.69$)0.89$(0.10$)3.11$(1.66$)(2.08$)(13.33$)(7.95$)(11.89$)(6.85$)(6.27$)(1.63$)2.02$(2.12$)0.23$(4.71$)(2.69$)(1.64$)(2.13$)(6.00$)(5.29$)(1.32$)(9.88$)(3.53$)(5.34$)2.59$1.77$(4.04$)(4.77$)1.37$(2.77$)(8.98$)(1.76$)(1.39$)(3.51$)(7.71$)(4.52$)(4.73$)
Average Shares, Basic126,209,896129,018,261133,006,312132,766,199132,298,919132,218,180132,115,854131,570,347121,937,407115,465,977114,051,017113,678,911113,279,149116,087,890119,660,173119,884,172114,727,001112,995,847112,921,070112,276,842113,879,461113,403,102114,383,289114,076,568112,941,736101,872,12696,983,76492,685,35083,325,42880,796,85675,380,71575,396,64976,763,09376,850,83076,819,70376,738,20276,505,49476,680,18376,664,82977,137,68280,695,72383,787,53383,936,84483,360,31283,181,36883,017,53482,740,01282,410,562
Average Shares, Diluted126,209,896129,018,261133,006,312132,766,199132,505,990132,357,697132,123,702131,570,347121,087,517115,465,977114,445,262114,134,55692,657,164116,087,890119,660,173140,506,157143,625,364141,855,471141,761,084141,039,28552,596,796141,969,977147,099,079114,076,568153,624,553136,522,709130,696,954126,278,160116,801,802114,682,688100,431,993108,194,597109,756,643102,703,10897,494,14497,946,137118,905,12597,831,61797,761,93677,137,68272,426,91985,074,70494,949,74185,622,21673,464,54696,956,23285,032,99884,940,540
EBIT329,069,000$283,186,000$176,572,000$266,561,000$238,401,000$245,099,000$220,582,000$211,315,000$191,868,000$127,609,000$155,827,000$155,576,000$92,914,000$93,733,000$17,558,000$164,755,000$160,994,000$187,717,000$204,777,000$211,352,000$161,023,000$251,336,000$268,147,000$(818,956,000$)201,189,000$150,800,000$149,819,000$154,623,000$82,793,000$110,191,000$83,488,000$93,255,000$62,052,000$68,885,000$65,880,000$64,157,000$48,273,000$75,122,000$64,052,000$36,041,000$66,024,000$35,635,000$52,520,000$33,446,000$48,066,000$73,660,000$37,501,000$29,549,000$
EBITDA331,342,000$285,515,000$179,279,000$269,314,000$241,186,000$247,915,000$223,428,000$214,784,000$195,640,000$131,358,000$159,492,000$159,244,000$96,721,000$98,138,000$21,299,000$168,724,000$165,104,000$191,986,000$209,010,000$215,524,000$165,222,000$255,540,000$272,432,000$(814,279,000$)205,649,000$155,777,000$150,172,000$154,966,000$83,179,000$110,531,000$83,771,000$93,554,000$62,356,000$69,189,000$66,179,000$64,463,000$48,564,000$75,396,000$64,350,000$36,318,000$66,338,000$35,830,000$52,692,000$33,589,000$48,210,000$73,797,000$37,627,000$29,655,000$