Redwood Trust, Inc. logo

Redwood Trust, Inc.

RWT

NYSEReal EstateREIT - Mortgage

Previous close

$4.80

+$0.05 · +1.05%

Aug 21, 4:00 PM ET

RWT company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Hold

Wait — insufficient conviction to act

Valuation

68

Undervalued

Momentum

40

Weakening

Sentiment

64

Bullish

Risk resilience

52

Elevated Risk

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Company profile

Company website

Redwood Trust, Inc. is a specialized financial enterprise operating across the United States, managing its activities through three distinct divisions. Its Residential Mortgage Banking segment functions as a conduit, sourcing residential home loans from various third-party originators. These loans are then either sold, converted into securities, or incorporated into Redwood Trust's own investment portfolio. This division also utilizes derivative financial instruments to mitigate risks associated with these residential loans. The Business Purpose Mortgage Banking segment is dedicated to originating and acquiring loans tailored for business uses, including single-family rental and bridge loans. Similar to the residential segment, these are subsequently securitized, sold, or added to the company's investment holdings. Finally, the Investment Portfolio segment deploys capital into a diverse array of assets. This includes securities retained from its own residential and business purpose securitization efforts, as well as residential and smaller multifamily bridge loans. The company also invests in residential mortgage-backed securities issued by other entities, Freddie Mac K-Series multifamily loan securitizations, reperforming loan securitizations, servicer advance investments, home equity investments, and various other housing-related assets. Qualifying as a Real Estate Investment Trust (REIT) for federal tax purposes, Redwood Trust, Inc. commits to distributing at least 90% of its taxable income as dividends to its shareholders. The company was established in 1994 and maintains its headquarters in Mill Valley, California.

Industry
REIT - Mortgage
Sector
Real Estate
Headquarters
US
CEO
Christopher J. Abate
Listed since
Aug 4, 1995
Employees
351

Market position

Day range

Current $4.80

52-week range

Current $4.80

Open
$4.785
Previous close
$4.75
Volume
648.32K
0.3× average
Average volume
2.14M
Average daily volume
Market cap
602.91M USD
Beta
1.43
Market reference 1
50-day average
$4.8588
-1.21% below average
200-day average
$5.4267
-11.55% below average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
22.63B USD
EV / EBITDA
21.24×
Earnings yield
-9.72%
Free cash flow yield
-1401.47%

Profitability & efficiency

Return on equity
-7.13%
Return on assets
-0.30%
Return on invested capital
4.50%

Financial health

Current ratio
0.28×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends111%59%7%-44%Gross margin, FY2021: 97.69%Gross margin, FY2022: 96.23%Gross margin, FY2023: 86.29%Gross margin, FY2024: 96.90%Gross margin, FY2025: 95.63%Operating margin, FY2021: 80.74%Operating margin, FY2022: 70.60%Operating margin, FY2023: 6.66%Operating margin, FY2024: 84.49%Operating margin, FY2025: 95.34%Net margin, FY2021: 33.57%Net margin, FY2022: -31.29%Net margin, FY2023: -1.43%Net margin, FY2024: 4.98%Net margin, FY2025: -6.33%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 97.69%. Gross margin FY2022 96.23%. Gross margin FY2023 86.29%. Gross margin FY2024 96.90%. Gross margin FY2025 95.63%. Operating margin FY2021 80.74%. Operating margin FY2022 70.60%. Operating margin FY2023 6.66%. Operating margin FY2024 84.49%. Operating margin FY2025 95.34%. Net margin FY2021 33.57%. Net margin FY2022 -31.29%. Net margin FY2023 -1.43%. Net margin FY2024 4.98%. Net margin FY2025 -6.33%.

Income trends

Revenue

1.11B USD+2.18%

Operating income

1.06B USD+15.29%

Net income

−70.03M USD−124.03M USD
Income trends across reported periods1.23B USD725.84M USD217.64M USD−290.57M USDRevenue, FY2021: 952.04M USDRevenue, FY2022: 522.58M USDRevenue, FY2023: 158.6M USDRevenue, FY2024: 1.08B USDRevenue, FY2025: 1.11B USDOperating income, FY2021: 768.65M USDOperating income, FY2022: 368.96M USDOperating income, FY2023: 10.57M USDOperating income, FY2024: 915.4M USDOperating income, FY2025: 1.06B USDNet income, FY2021: 319.61M USDNet income, FY2022: −163.52M USDNet income, FY2023: −2.27M USDNet income, FY2024: 54M USDNet income, FY2025: −70.03M USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 952.04M USD. Revenue FY2022 522.58M USD. Revenue FY2023 158.6M USD. Revenue FY2024 1.08B USD. Revenue FY2025 1.11B USD. Operating income FY2021 768.65M USD. Operating income FY2022 368.96M USD. Operating income FY2023 10.57M USD. Operating income FY2024 915.4M USD. Operating income FY2025 1.06B USD. Net income FY2021 319.61M USD. Net income FY2022 −163.52M USD. Net income FY2023 −2.27M USD. Net income FY2024 54M USD. Net income FY2025 −70.03M USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue1.11B USD1.08B USD158.6M USD522.58M USD952.04M USD
Cost of goods sold48.38M USD33.59M USD21.74M USD19.72M USD21.98M USD
Gross profit1.06B USD1.05B USD136.86M USD502.87M USD930.06M USD
Selling, general, and administrative153.95M USD134.39M USD126.3M USD133.91M USD161.41M USD
Operating expenses3.23M USD134.39M USD126.3M USD133.91M USD161.41M USD
Interest income1.18B USD945.16M USD724.46M USD708M USD575M USD
Interest expense1.1B USD842.56M USD631.52M USD552M USD427M USD
Depreciation and amortization10.06M USD11.92M USD27.28M USD29.89M USD32.09M USD
Operating income1.06B USD915.4M USD10.57M USD368.96M USD768.65M USD
Net income−70.03M USD54M USD−2.27M USD−163.52M USD319.61M USD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
27%
3 beats, 7 misses, 1 met estimate
Average EPS surprise
-77.05%
11 comparable reports
Latest EPS result
0.25
Estimate 0.23 · Beat by 8.84%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates0.36-0.04-0.44-0.84Q1 '25MissQ2 '25MissQ3 '25MissQ4 '25MissQ1 '26MissQ2 '26BeatQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Feb 13, 2025: actual -0.07, estimate 0.17, surprise -141.18%, Miss. Q2 2025, reported Apr 30, 2025: actual 0.14, estimate 0.17, surprise -17.65%, Miss. Q3 2025, reported Jul 30, 2025: actual -0.76, estimate 0.19, surprise -500.00%, Miss. Q4 2025, reported Oct 29, 2025: actual -0.08, estimate 0.16, surprise -150.00%, Miss. Q1 2026, reported Feb 11, 2026: actual 0.15, estimate 0.22, surprise -31.82%, Miss. Q2 2026, reported Apr 29, 2026: actual 0.28, estimate 0.214, surprise +31.09%, Beat. Q3 2026, reported Jul 28, 2026: actual 0.25, estimate 0.23, surprise +8.84%, Beat. Q4 2026, reported Nov 4, 2026: actual —, estimate 0.25, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates97.6M78.84M60.08M41.32MQ1 '25MissQ2 '25BeatQ3 '25MissQ4 '25MissQ1 '26BeatQ2 '26BeatQ3 '26MissQ4 '26Estimate
Q1 2025, reported Feb 13, 2025: actual 45.2M USD, estimate 54.58M USD, surprise -17.19%, Miss. Q2 2025, reported Apr 30, 2025: actual 73.8M USD, estimate 70.66M USD, surprise +4.45%, Beat. Q3 2025, reported Jul 30, 2025: actual 46.6M USD, estimate 78.22M USD, surprise -40.43%, Miss. Q4 2025, reported Oct 29, 2025: actual 61.4M USD, estimate 77.27M USD, surprise -20.54%, Miss. Q1 2026, reported Feb 11, 2026: actual 87.7M USD, estimate 76.47M USD, surprise +14.69%, Beat. Q2 2026, reported Apr 29, 2026: actual 87.1M USD, estimate 87.01M USD, surprise +0.10%, Beat. Q3 2026, reported Jul 28, 2026: actual 78.5M USD, estimate 89.45M USD, surprise -12.24%, Miss. Q4 2026, reported Nov 4, 2026: actual —, estimate 93.72M USD, surprise —, Comparison unavailable.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Rating distribution

24 ratings
Strong buy14%
Buy1250%
Hold1146%
Sell00%
Strong sell00%

RWT peers

ETFs holding RWT

Funds reporting this stock among their holdings, ordered by reported position size.

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