Redwood Trust Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Interest and Dividend Income	1,122	945.16	724.46	707.85	574.93	571.92
Total Interest Expense	1,050	854.56	637.52	557.4	427.75	448.01
Net Interest Income	72.38	90.61	86.94	150.45	147.18	123.91
Mortgage Banking	140.39	99.4	67.39	-13.66	235.74	78.47
Gain (Loss) on Sale of Investments	-92.81	51.07	-1.28	-170.56	146.14	-583.8
Other Revenue	0.94	1.42	5.55	11.66	10.54	63.38
Revenue Before Loan Losses	120.9	242.5	158.6	-22.1	539.6	-318.03
Revenue	120.9	242.5	158.6	-22.1	539.6	-318.03
Revenue Growth (YoY)	-55.02%	52.90%	-	-	-	-
Salaries & Employee Benefits	20.47	25.03	24.85	23.1	19.94	12.44
Cost of Services Provided	171.12	142.96	123.18	130.52	163.44	108.94
Other Operating Expenses	2.53	-0.33	9.21	0.71	14.32	53.52
Total Operating Expenses	194.13	167.66	157.24	154.34	197.7	174.9
Operating Income	-73.23	74.84	1.36	-176.44	341.9	-492.93
EBT Excluding Unusual Items	-73.23	74.84	1.36	-176.44	341.9	-492.93
Impairment of Goodwill	-	-	-	-	-	-88.68
Other Unusual Items	-	-2	-2	-7	-	-
Pretax Income	-73.23	72.84	-0.64	-183.44	338.09	-586.46
Income Tax Expense	23.44	18.84	1.64	-19.92	18.48	-4.61
Net Income	-96.67	54	-2.27	-163.52	319.61	-581.85
Preferred Dividends & Other Adjustments	12.48	11.41	10.68	4.34	10.64	1.99
Net Income to Common	-109.14	42.6	-12.96	-167.86	308.98	-583.84
Shares Outstanding (Basic)	132	132	116	117	113	114
Shares Outstanding (Diluted)	132	132	116	117	142	114
Shares Change (YoY)	1.74%	13.64%	-0.81%	-17.49%	24.69%	-16.70%
EPS (Basic)	-0.83	0.32	-0.11	-1.43	2.73	-5.12
EPS (Diluted)	-0.84	0.32	-0.11	-1.43	2.37	-5.12
Dividend Per Share	0.720	0.670	0.710	0.920	0.780	0.725
Dividend Growth	10.77%	-5.63%	-22.83%	17.95%	7.59%	-39.58%
Operating Margin	-60.57%	30.86%	0.86%	-	63.36%	-
Profit Margin	-90.28%	17.57%	-8.17%	-	57.26%	-
Effective Tax Rate	-	25.86%	-	-	5.46%	-

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