Redwood Trust Inc

Chart & Performance

D1W1MN

Profile

Redwood Trust, Inc., together with its subsidiaries, operates as a specialty finance company in the United States. The company operates through three segments: Residential Mortgage Banking, Business Purpose Mortgage Banking, and Investment Portfolio. The Residential Mortgage Banking segment operates a mortgage loan conduit that acquires residential loans from third-party originators for subsequent sale, securitization, or transfer to its investment portfolio. This segment also offers derivative financial instruments to manage risks associated with residential loans. The Business Purpose Mortgage Banking segment operates a platform that originates and acquires business purpose loans, such as single-family rental and bridge loans for subsequent securitization, sale, or transfer into its investment portfolio. The Investment Portfolio segment invests in securities retained from residential and business purpose securitization activities, and residential and small-balance multifamily bridge loans, as well as residential mortgage-backed securities issued by third parties, Freddie Mac K-Series multifamily loan securitizations and reperforming loan securitizations, servicer advance investments, home equity investments, and other housing-related investments. The company qualifies as a real estate investment trust (REIT) for federal income tax purposes. As a REIT, it intends to distribute at least 90% of its taxable income as dividends to shareholders. Redwood Trust, Inc. was incorporated in 1994 and is headquartered in Mill Valley, California.

URL

https://www.redwoodtrust.com/

IPO date

Aug 04, 1995

Employees

347

Domiciled in

Incorporated in

Valuation

Order:

Title USD in thousands, except ratios and share amounts	FY	FY	FY	FY	FY	FY	FY	FY	FY	FY
Title USD in thousands, except ratios and share amounts	2024‑12	2023‑12	2022‑12	2021‑12	2020‑12	2019‑12	2018‑12	2017‑12	2016‑12	2015‑12
Income
Revenues	945,164 497.08%	158,298 -686.29%	(27,000) -105.13%
Cost of revenue	136,393	150,032	178,842
Unusual Expense (Income)
NOPBT	808,771	8,266	(205,842)
NOPBT Margin	85.57%	5.22%	762.38%
Operating Taxes	(18,837)	1,635	(20,000)
Tax Rate		19.78%
NOPAT	827,608	6,631	(185,842)
Net income	54,004 -960.90%	(6,273) -96.18%	(164,000) -151.31%
Dividends	(99,911)	(93,575)	(111,673)
Dividend yield	11.58%	10.86%	14.09%
Proceeds from repurchase of equity	462	124,474	9,092
BB yield	-0.05%	-14.45%	-1.15%
Debt
Debt current	1,750,089	1,351,048	2,030,000
Long-term debt	14,655,839	11,507,970	9,738,563
Deferred revenue	5,127		11,946,914
Other long-term liabilities	(5,127)	250,167	(11,763,521)
Net debt	15,379,734	12,018,503	10,715,563
Cash flow
Cash from operating activities	(5,862,524)	(2,015,825)	(139,140)
CAPEX
Cash from investing activities	5,717,427	908,720	213,886
Cash from financing activities	3,268,264	1,146,529	(276,866)
FCF	827,608	35,424	1,458,672
Balance
Cash	245,165	368,788	662,000
Long term investments	781,029	471,727	391,000
Excess cash	978,936	832,600	1,054,350
Stockholders' equity	25,202	(1,285,155)	12,524,692
Invested Capital	18,010,275	15,582,308	11,963,043
ROIC	4.93%	0.05%
ROCE	4.48%	0.06%
EV
Common stock shares outstanding	132,139	116,283	117,228
Price	6.53 -11.88%	7.41 9.62%	6.76 -48.75%
Market cap	862,871 0.14%	861,659 8.73%	792,460 -57.71%
EV	16,309,553	12,947,110	22,947,078
EBITDA	820,687	8,266	(189,920)
EV/EBITDA	19.87	1,566.31
Interest	842,556	631,519	552,000
Interest/NOPBT	104.18%	7,639.96%