Redwood Trust, Inc. (RWT) Earnings History
Net Loss32 years of earnings data (1994–2025) · Currently unprofitable on a TTM basis
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Redwood Trust, Inc. (RWT) Earnings Overview
As of July 8, 2026, Redwood Trust, Inc. (RWT) reported trailing twelve-month net income of -$92M, reflecting -296.9% year-over-year growth. The company earned $-0.73 per diluted share over the past four quarters, with a net profit margin of -6.3%.
Looking at the long-term picture, RWT's historical earnings data spans multiple years. The company achieved its highest annual net income of $320M in fiscal 2021.
Redwood Trust, Inc. is currently reporting a net loss, though operating performance should be evaluated in the context of growth investments and industry dynamics View revenue history →
Compared to peers including MFA ($135M net income, 20.2% margin), MITT ($34M net income, 10.3% margin), SACH (-$673,000 net income, 13.4% margin), RWT has room to improve margins relative to the peer group. Compare RWT vs MFA →
RWT Earnings vs Peers
Earnings metrics vs comparable public companies
RWT Historical Earnings Data (1994–2025)
32 years| Fiscal Year | Net Income | YoY % | Operating Income | EPS (Diluted) | Net Margin | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | -$70M | -229.7% | $1.06B | $-0.63 | -6.3% | 95.3% |
| 2024 | $54M | +2474.8% | $75M | $0.32 | 22.3% | 30.7% |
| 2023 | -$2M | +98.6% | $11M | $-0.11 | -1.4% | 6.7% |
| 2022 | -$164M | -151.2% | -$176M | $-1.43 | - | - |
| 2021 | $320M | +154.9% | $356M | $2.37 | 59.2% | 66.0% |
| 2020 | -$582M | -443.9% | -$439M | $-5.11 | - | - |
| 2019 | $169M | +41.5% | $212M | $1.46 | 51.7% | 64.6% |
| 2018 | $120M | -14.8% | $133M | $1.09 | 55.3% | 61.7% |
| 2017 | $140M | +7.0% | $162M | $1.60 | 58.7% | 67.7% |
| 2016 | $131M | +28.6% | $184M | $1.54 | 50.6% | 71.1% |
| 2015 | $102M | +1.5% | $122M | $1.18 | 47.6% | 56.9% |
| 2014 | $101M | -40.3% | $127M | $1.15 | 47.2% | 59.7% |
| 2013 | $168M | +31.6% | $200M | $1.94 | 62.2% | 73.9% |
| 2012 | $128M | +385.5% | $111M | $1.59 | 71.6% | 62.3% |
| 2011 | $26M | -76.1% | $35M | $0.31 | 29.6% | 39.0% |
| 2010 | $110M | +180.8% | $121M | $1.36 | 58.1% | 63.8% |
| 2009 | $39M | +108.8% | $83M | $0.55 | 29.8% | 63.3% |
| 2008 | -$444M | +59.9% | -$82M | $-13.46 | -276.0% | -51.1% |
| 2007 | -$1.11B | -969.3% | -$452M | $-39.70 | -511.9% | -208.6% |
| 2006 | $128M | -36.2% | $138M | $4.85 | 14.1% | 15.3% |
| 2005 | $200M | -14.1% | $217M | $7.96 | 19.5% | 21.2% |
| 2004 | $233M | +75.7% | $241M | $10.47 | 32.3% | 33.4% |
| 2003 | $132M | +133.8% | $138M | $7.04 | 72.2% | 75.2% |
| 2002 | $57M | +72.2% | $148M | $3.41 | 70.8% | 185.6% |
| 2001 | $33M | +73.7% | $131M | $2.88 | 68.5% | 272.8% |
| 2000 | $19M | +995.7% | $158M | $1.82 | 60.1% | 500.3% |
| 1999 | $2M | +104.6% | $121M | $-0.10 | 6.1% | 427.6% |
| 1998 | -$37M | -235.5% | $162M | $-3.04 | -160.5% | 696.1% |
| 1997 | $28M | +117.3% | $192M | $1.81 | 78.4% | 544.3% |
| 1996 | $13M | +296.9% | $63M | $1.32 | 75.1% | 373.4% |
| 1995 | $3M | +700.0% | $0 | $0.85 | 66.7% | 0.0% |
| 1994 | $400,000 | - | $0 | $0.20 | 80.0% | 0.0% |
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Intrinsic Valuation
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RWT — Frequently Asked Questions
Quick answers to the most common questions about buying RWT stock.
What is RWT earnings per share (EPS)?
RWT trailing twelve-month (TTM) diluted EPS is $-0.73, reflecting -296.9% year-over-year growth. The 5-year EPS CAGR is N/A. Complete EPS history from 1994 to 2025 is available in the table on this page.
What is Redwood Trust, Inc.'s net income?
Redwood Trust, Inc. (RWT) trailing twelve-month net income is $-92M as of 2025. Earnings declined -296.9% year-over-year.
Is RWT profitable?
RWT is not currently profitable on a TTM basis, reporting a net loss of $-92M. Net margin is -6.3%. Investors should monitor for a return to profitability.
What is RWT's earnings growth rate?
RWT compound annual EPS growth rates (CAGR): 1-Year: N/A, 3-Year: N/A, 5-Year: N/A, 10-Year: N/A. These figures measure the annualised rate of diluted EPS growth over each period, based on data from 1994 to 2025.
What are RWT's profit margins?
Redwood Trust, Inc. net profit margin is -6.3%, operating margin is +95.3%, and gross margin is +95.6%. Below-average margins reflect competitive or cost pressures. Return on Equity is -6.5%.
Is RWT growing earnings?
RWT earnings are declining — EPS fell -296.9% year-over-year. TTM net income dropped to $-92M. This contrasts with the 5-year CAGR of N/A.
What was RWT's best earnings year?
Redwood Trust, Inc.'s highest annual net income on record is $320M, achieved in fiscal year 2021. Earnings history on this page spans 1994 to 2025 and includes all annual and quarterly figures.
What were RWT's earnings last quarter?
RWT's most recent reported quarter was Q1 2026. Net income was $-6M with diluted EPS of $-0.07. For a full breakdown of all quarters, see the quarterly earnings table on this page.