Redwood Trust, Inc. (RWT) quarterly income statement — complete revenue, gross profit & net income history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Revenue | 408.1M | 210.75M | 327.57M | 217.59M | 307.94M | 30.88M | 69.72M | 67.45M | 74.55M | 57.04M | 10.76M | 43.27M | 42.76M | -21.27M | -2.2M | -70.5M | 71.86M | 99.82M | 140.3M | 145.04M |
| Revenue Growth % | 32.52% | 582.49% | 369.83% | 222.61% | 313.07% | -45.86% | 548.15% | 55.89% | 74.36% | 368.17% | 588.95% | 161.37% | -40.5% | -121.31% | -101.57% | -148.6% | -55.09% | -25.7% | -25.57% | -27.72% |
| Property Operating Expenses | 13.27M | 9.3M | 284.54M | 270.5M | 244.15M | 9.7M | 9.53M | 8.53M | 5.83M | 6.85M | 5.54M | 4.54M | 17.06M | 4.14M | 4.29M | 5.25M | 6.04M | 10.05M | 4.62M | 3.75M |
| Net Operating Income (NOI) | 394.82M | 201.44M | 43.04M | -52.91M | 63.79M | 21.18M | 60.19M | 58.92M | 68.72M | 50.19M | 5.22M | 38.72M | 25.7M | -25.41M | -6.49M | -75.74M | 65.82M | 89.77M | 135.68M | 141.29M |
| NOI Margin % | 96.75% | 95.59% | 13.14% | -24.32% | 20.71% | 68.6% | 86.33% | 87.36% | 92.17% | 87.99% | 48.49% | 89.5% | 60.1% | 119.45% | 294.95% | 107.44% | 91.59% | 89.93% | 96.71% | 97.42% |
| Operating Expenses | 80.63M | -127.63M | 44.39M | 41.02M | 41.38M | 32.53M | 36.01M | 33.28M | 32.57M | 32.24M | 29.7M | 30.8M | 42.76M | 32.19M | 38.24M | 30.2M | 33.28M | 33.18M | 46.5M | 39.38M |
| G&A Expenses | 47.42M | 38.33M | 37.67M | 35.47M | 35.87M | 32.53M | 36.01M | 33.28M | 32.57M | 32.24M | 29.7M | 30.8M | 34.64M | 32.19M | 38.24M | 30.2M | 33.28M | 33.18M | 46.5M | 39.38M |
| EBITDA | 316.47M | 331.34M | 978K | -91.22M | 25.16M | -8.56M | 247.91M | 30.68M | 42.42M | 21.72M | -17.63M | 14.69M | 159.24M | -50.55M | -40.33M | -98.89M | 40.05M | 60.7M | 97.32M | 106.14M |
| EBITDA Margin % | 77.55% | 157.22% | 0.3% | -41.92% | 8.17% | -27.73% | 355.58% | 45.49% | 56.9% | 38.08% | -163.85% | 33.95% | 372.45% | 237.67% | 1833.09% | 140.29% | 55.73% | 60.81% | 69.36% | 73.18% |
| Depreciation & Amortization | 2.27M | 2.27M | 2.33M | 2.71M | 2.75M | 2.79M | 2.82M | 5.05M | 6.27M | 3.77M | 6.86M | 6.77M | 3.67M | 7.04M | 4.41M | 7.05M | 7.5M | 4.11M | 8.14M | 4.23M |
| D&A / Revenue % | 0.56% | 1.08% | 0.71% | 1.24% | 0.89% | 9.02% | 4.04% | 7.48% | 8.42% | 6.61% | 63.74% | 15.65% | 8.58% | -33.12% | -200.23% | -10% | 10.44% | 4.12% | 5.8% | 2.92% |
| Operating Income | 314.2M | 329.07M | -1.35M | -93.93M | 22.41M | -11.35M | 245.1M | 25.64M | 36.15M | 17.95M | -24.48M | 7.92M | 155.58M | -57.6M | -44.73M | -105.94M | 32.54M | 56.59M | 89.17M | 101.91M |
| Operating Margin % | 76.99% | 156.14% | -0.41% | -43.17% | 7.28% | -36.75% | 351.54% | 38.01% | 48.49% | 31.47% | -227.58% | 18.3% | 363.87% | 270.79% | 2033.32% | 150.28% | 45.28% | 56.69% | 63.56% | 70.26% |
| Interest Expense | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Interest Coverage | -0.02x | 1.09x | -0.00x | -0.35x | 0.09x | -0.00x | 1.10x | 1.10x | 1.17x | -0.02x | -0.02x | -0.02x | -0.02x | 0.64x | 0.66x | 0.14x | 1.21x | 1.44x | 1.82x | 1.91x |
| Non-Operating Income | 0 | 0 | 0 | 0 | -2.79M | -11.35M | 2.82M | 2.85M | 3.47M | 17.95M | -24.48M | 3.67M | 3.67M | 3.81M | 4.41M | -105.94M | 3.97M | 4.11M | 4.27M | 4.23M |
| Pretax Income | -8.01M | 28.03M | -1.35M | -93.93M | 22.41M | -356K | 21.95M | 20.46M | 30.79M | 22.04M | -29.11M | 2.94M | 3.5M | -53.49M | -48.99M | -109.41M | 28.46M | 48.62M | 83.96M | 96.71M |
| Pretax Margin % | -1.96% | 13.3% | -0.41% | -43.17% | 7.28% | -1.15% | 31.49% | 30.33% | 41.29% | 38.63% | -270.65% | 6.8% | 8.18% | 251.5% | 2227% | 155.2% | 39.6% | 48.7% | 59.85% | 66.68% |
| Income Tax | -2.5M | 8.01M | 6.35M | 4.56M | 6.26M | 6.26M | 7.13M | 4.92M | 523K | 993K | 1.7M | 69K | -1.12M | -9.44M | 1.42M | -9.44M | -2.46M | 4.57M | -4.32M | 6.69M |
| Effective Tax Rate % | 31.26% | 28.57% | -470.24% | -4.86% | 27.94% | -1758.99% | 32.47% | 24.07% | 1.7% | 4.51% | -5.83% | 2.35% | -32.11% | 17.64% | -2.89% | 8.63% | -8.64% | 9.4% | -5.15% | 6.91% |
| Net Income | -5.5M | 20.02M | -7.7M | -98.49M | 16.15M | -6.62M | 14.83M | 15.53M | 30.26M | 21.04M | -30.81M | 2.87M | 4.62M | -44.06M | -50.41M | -99.97M | 30.91M | 44.05M | 88.29M | 90.03M |
| Net Margin % | -1.35% | 9.5% | -2.35% | -45.26% | 5.24% | -21.43% | 21.26% | 23.03% | 40.59% | 36.89% | -286.42% | 6.64% | 10.81% | 207.14% | 2291.41% | 141.81% | 43.02% | 44.12% | 62.93% | 62.07% |
| Net Income Growth % | -134.08% | 402.55% | -151.96% | -734.04% | -46.64% | -131.45% | 148.12% | 440.69% | 555.02% | 147.76% | 38.88% | 102.87% | -85.06% | -200.03% | -157.1% | -211.04% | -68.21% | -18.88% | -37.74% | -45.59% |
| Funds From Operations (FFO) | -3.23M | 22.3M | -5.38M | -95.78M | 18.9M | -3.83M | 17.64M | 20.58M | 36.54M | 24.82M | -23.95M | 9.64M | 8.29M | -37.01M | -46.01M | -92.92M | 38.42M | 48.16M | 96.43M | 94.26M |
| FFO Margin % | -0.79% | 10.58% | -1.64% | -44.02% | 6.14% | -12.41% | 25.3% | 30.52% | 49.01% | 43.5% | -222.68% | 22.29% | 19.38% | 174.02% | 2091.18% | 131.81% | 53.46% | 48.24% | 68.73% | 64.99% |
| FFO Growth % | -117.1% | 681.69% | -130.47% | -565.38% | -48.27% | -115.45% | 173.65% | 113.4% | 340.83% | 167.04% | 47.93% | 110.38% | -78.43% | -176.86% | -147.71% | -198.58% | -62.12% | -17.68% | -33.96% | -45.7% |
| FFO per Share | -0.03 | 0.18 | -0.04 | -0.72 | 0.14 | -0.03 | 0.13 | 0.16 | 0.28 | 0.21 | -0.21 | 0.08 | 0.07 | -0.33 | -0.40 | -0.78 | 0.27 | 0.34 | 0.68 | 0.66 |
| FFO Payout Ratio % | -735.22% | 107.65% | -452.02% | -26.44% | 134.13% | -654.45% | 133.57% | 107.55% | 60.52% | 88.37% | -82.44% | 198.46% | 332.52% | -72.84% | -60.21% | -30.38% | 74.93% | 57.02% | 25.58% | 22.25% |
| EPS (Diluted) | -0.07 | 0.13 | -0.08 | -0.76 | 0.10 | -0.07 | 0.09 | 0.10 | 0.21 | 0.15 | -0.29 | 0.00 | 0.02 | -0.40 | -0.44 | -0.84 | 0.22 | 0.34 | 0.65 | 0.66 |
| EPS Growth % | -168.2% | 277.84% | -188.3% | -860% | -52.38% | -148.73% | 131.24% | - | 1237.58% | 137.5% | 34.09% | 100.25% | -92.86% | -217.65% | -167.69% | -227.27% | -69.44% | -29.17% | -36.27% | -34% |
| EPS (Basic) | -0.07 | 0.13 | -0.08 | -0.76 | 0.10 | -0.07 | 0.09 | 0.10 | 0.21 | 0.15 | -0.29 | 0.00 | 0.02 | -0.40 | -0.44 | -0.86 | 0.26 | 0.38 | 0.77 | 0.77 |
| Diluted Shares Outstanding | 124.77M | 126.57M | 129.02M | 133.01M | 132.77M | 132.29M | 132.36M | 132.12M | 131.57M | 116.28M | 115.47M | 114.44M | 114.14M | 113.36M | 116.09M | 119.66M | 140.51M | 143.54M | 141.85M | 141.76M |