Redwood Trust Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Interest and Dividend Income	81.38	945.16	724.46	707.85	574.93
Total Interest Expense	64.46	854.56	637.52	557.4	427.75
Net Interest Income	16.92	90.61	86.94	150.45	147.18
Mortgage Banking	232.88	99.4	67.39	-13.66	235.74
Gain (Loss) on Sale of Investments	-97.98	51.07	-1.28	-170.56	146.14
Other Revenue	25.54	1.42	5.55	11.66	10.54
Revenue Before Loan Losses	177.37	242.5	158.6	-22.1	539.6
Revenue	177.37	242.5	158.6	-22.1	539.6
Revenue Growth (YoY)	-26.86%	52.90%	-	-	-
Salaries & Employee Benefits	110.76	25.03	24.85	23.1	19.94
Cost of Services Provided	89.59	142.96	123.18	130.52	163.44
Other Operating Expenses	21.87	-0.33	9.21	0.71	14.32
Total Operating Expenses	222.21	167.66	157.24	154.34	197.7
Operating Income	-44.84	74.84	1.36	-176.44	341.9
EBT Excluding Unusual Items	-44.84	74.84	1.36	-176.44	341.9
Other Unusual Items	-	-2	-2	-7	-
Pretax Income	-44.84	72.84	-0.64	-183.44	338.09
Income Tax Expense	25.19	18.84	1.64	-19.92	18.48
Net Income	-70.03	54	-2.27	-163.52	319.61
Preferred Dividends & Other Adjustments	7.01	11.41	10.68	4.34	10.64
Net Income to Common	-77.04	42.6	-12.96	-167.86	308.98
Shares Outstanding (Basic)	130	132	116	117	113
Shares Outstanding (Diluted)	130	132	116	117	142
Shares Change (YoY)	-1.43%	13.64%	-0.81%	-17.49%	24.69%
EPS (Basic)	-0.59	0.32	-0.11	-1.43	2.73
EPS (Diluted)	-0.63	0.32	-0.11	-1.43	2.37
Dividend Per Share	0.720	0.670	0.710	0.920	0.780
Dividend Growth	7.46%	-5.63%	-22.83%	17.95%	7.59%
Operating Margin	-25.28%	30.86%	0.86%	-	63.36%
Profit Margin	-43.44%	17.57%	-8.17%	-	57.26%
Effective Tax Rate	-	25.86%	-	-	5.46%

Source: S&P Global Market Intelligence. Financial Services template. Financial Sources.