RWT · XBRL financial data
Redwood Trust financial statements, every fiscal year
The same tables from 6 filings, lined up. Matched by XBRL tag: renamed lines keep their history.
How these numbers work
- Every number comes from the company's XBRL financial data filed with the SEC, and each one links to its filing.
- Lines are matched by XBRL tag, so a line renamed between filings keeps its history.
- * marks a quarter worked out from the filing totals: the 10-K year minus the first three quarters, or a year-to-date total minus the earlier one. Fourth-quarter earnings per share is fourth-quarter net income over the fourth-quarter weighted shares.
- 0 means a filing states zero; a dash (—) means no filing states that number.
- “year only” means the 10-K gives the full year but not the quarters needed to work out the fourth. A worked-out quarter of revenue, cost of revenue or operating cash flow more than twice the company's largest quarter of the two years before is shown this way too.
- Gross profit is shown as the company reports it; a worked-out quarter must equal revenue less cost of revenue for that quarter, or it is a dash.
- Operating income can be above gross profit when the company books other operating income between the two, shown on its own line.
- Shares outstanding come from each filing's cover page, as of the date printed there.
- Quarters are fiscal: Q2 FY27 is the second quarter of the company's fiscal 2027.
Income statement
CSVFiscal years (RWT's year ends in late December)
| In millions of dollars | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 | Dec 31, 2024 | Dec 31, 2025 |
|---|---|---|---|---|---|---|
| General and administrative | 115 | 171 | 141 | 128 | 136 | 154 |
| Total operating expenses | 235 | 204 | 176 | 166 | — | — |
| Other operating income (expense) | 4 | 12 | 21 | 13 | 28 | 4 |
| Interest expense | 448 | 427 | 552 | 632 | — | — |
| Other income (expense) | 4 | 2 | (0) | 0 | — | — |
| Income tax expense (benefit) | (5) | 18 | (20) | 2 | 19 | 25 |
| Net income (loss) | (582) | 320 | (164) | (2) | 54 | (70) |
| Earnings per share, basic USD per share | (5.12) | 2.73 | (1.43) | (0.11) | 0.32 | (0.63) |
| Earnings per share, diluted USD per share | (5.12) | 2.37 | (1.43) | (0.11) | 0.32 | (0.63) |
| Weighted average shares, basic millions of shares | 114 | 113 | 117 | 116 | 132 | 130 |
| Weighted average shares, diluted millions of shares | 114 | 142 | 117 | 116 | 132 | 130 |
Balance sheet
CSVFiscal years (RWT's year ends in late December)
| In millions of dollars | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 | Dec 31, 2024 | Dec 31, 2025 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 461 | 450 | 259 | 293 | 245 | 256 |
| Property and equipment, net | 4 | 9 | 13 | 8 | 5 | 6 |
| Right-of-use asset | 15 | 19 | 16 | 13 | 9 | 9 |
| Goodwill | 0 | 0 | 23 | 23 | 23 | 23 |
| Total assets | 10,355 | 14,707 | 13,031 | 14,504 | 18,258 | 23,701 |
| Accounts payable | 6 | 0 | 4 | 5 | 7 | 10 |
| Total liabilities | 9,244 | 13,321 | 11,947 | 13,302 | 17,070 | 22,718 |
| Retained earnings | 997 | 1,317 | 1,153 | 1,144 | 1,191 | 1,114 |
| Total stockholders' equity | 1,111 | 1,386 | 1,084 | 1,203 | 1,188 | 983 |
| Total liabilities and equity | 10,355 | 14,707 | 13,031 | 14,504 | 18,258 | 23,701 |
| Common shares outstanding (cover page) millions of shares | 112 | 120 | 114 | 132 | 133 | 125 |
Cash flows
CSVFiscal years (RWT's year ends in late December)
| In millions of dollars | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 | Dec 31, 2024 | Dec 31, 2025 |
|---|---|---|---|---|---|---|
| Net income (loss) | (582) | 320 | (164) | (2) | 54 | (70) |
| Stock-based compensation | 15 | 19 | 24 | 19 | — | — |
| Net cash from operating activities | (505) | (5,695) | (139) | (2,016) | (5,863) | (10,095) |
| Net cash from investing activities | 4,070 | 1,404 | 214 | 909 | 2,538 | 4,532 |
| Proceeds from issuing common stock | 6 | 22 | 68 | 124 | 0 | 0 |
| Share repurchases | 22 | 0 | 56 | 0 | 0 | 52 |
| Dividends paid | 84 | 92 | 112 | 88 | 93 | 99 |
| Net cash from financing activities | (3,311) | 4,278 | (277) | 1,147 | 3,268 | 5,699 |
| Net change in cash | 254 | (13) | (202) | 39 | (56) | 136 |
Compare with peers
SIC 6798 and related industry codes, similar size. Each row is the latest quarter reported.
How peers are chosen
- SIC 6798 and related industry codes with public float (or, where float is missing, quarterly revenue) between 0.2x and 5x the company's.
- Each row is the latest quarter the company has reported, named in the Quarter column; when that filing is a 10-K, it is the fourth quarter, never the full year.
- Runway shows only for companies burning cash with under $10B of public float.
- * marks a quarter worked out from the filing totals: for a 10-Q, the year-to-date total less the earlier one.
- A cell reading “not reported” means the filings give no figure for that quarter alone.
| Company | Cash ($M) | Revenue, quarter ($M) | Operating cash flow, quarter ($M) | Shares outstanding | Runway | Quarter |
|---|---|---|---|---|---|---|
| Redwood Trust | 192 | not reported | (3,747)* | 125.6M | 0.1 quarters | 10-QJun 30, 2026 |
| Diversified Healthcare Trust | 111 | 368 | 27* | 242.5M | — | 10-QSep 30, 2026 |
| PennyMac Mortgage Investment Trust | 161 | 36 | (2,742)* | 87.2M | — | 10-QSep 30, 2026 |
| Safehold | 30 | 119 | 5.5* | 70.0M | — | 10-QSep 30, 2026 |
| NexPoint Residential Trust | 16 | 64 | 21* | 25.5M | — | 10-QSep 30, 2026 |
| Brandywine Realty Trust | 313 | 126 | not reported | 170.0M | — | 10-QSep 30, 2026 |
| Ready Capital | 124 | not reported | 75* | 165.2M | — | 10-QJun 30, 2026 |
| Franklin BSP Realty Trust | 101 | 75 | (90)* | 75.7M | — | 10-QSep 30, 2026 |
| Digital Turbine | 43 | 166 | 18 | 121.0M | — | 10-QJun 30, 2026 |
Not investment advice. Not affiliated with the U.S. SEC.