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RWTRedwood Trust, Inc.
$3.12$391M
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
Financial Statements
Income StatementBalance SheetCash FlowRatios & Margins
Performance
P/E HistoryRevenue HistoryEarnings HistoryDividend HistoryTotal Return
Discovery & Screens
Live BreakoutsStock ScreenerOwnership
RWT logo

Redwood Trust, Inc.

RWT
NYSE · Mortgage REITs
$3.12
At close - Nov 6, 4:00 PM EST - USD
Market Cap$391M
P/E-12.1x
52W High$6.97
Volume5.65M
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q2

Extreme Leverage and Cash Flow Volatility Undermine Dividend Sustainability

Redwood Trust's aggressive balance sheet expansion, with total debt surging 105% to $27.5B against a 22% equity decline to $934M, has resulted in a debt-to-equity ratio of 29.41x, creating significant refinancing risk.

GrowthMixed
ProfitabilityStrained
ValuationExpensive
TechnicalsWeak
Explore valuation models
MARKET ACTION

RWT price & volume

Price trend, volume and key moving averages

Launch Terminal
Loading chart...
Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

3/12 Beats

EPS beat 3 of last 12 quarters

02

Valuation risk

-211% Peers

P/E is 211% below peer median

03

Market leadership

RS 18 · Lag

Laggard (Underperforming 82% of market)

04

Weak Trend

Below 200DMA

Price < 200DMA

Next CatalystEstimated earnings · Feb 3

Market performance

Price History →

Trailing total returns as of 11/8/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
RWT-35.22%
S&P 500 (^GSPC)+7.63%
1-Year Return
RWT-25.00%
S&P 500 (^GSPC)+9.69%
3-Year Return
RWT-23.38%
S&P 500 (^GSPC)+69.01%
5-Year Return
RWT-50.00%
S&P 500 (^GSPC)+56.98%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/E5Y Low
-12.1x
Forward P/E
3.4x
EV/EBITDA100th %ile
35.0x
FCF YieldCash Flow
N/A

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
-12.1x
20.4x
0th· Low
EV/EBITDA
35.0x
21.2x
100th· High
Price/FCF
N/A
N/A
N/A
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
No DCF Model AvailableIntrinsic value modeling is not supported for this equity.

Growth & profitability

Annual revenue & EPS trend
Revenue FY25
$1.11B+2.2% YoY
Net income FY25
-$70M-229.7% YoY
Free cash flow FY25
-$10.09B-72.2% YoY
Operating margin FY25
95.3%+10.8 pts YoY
ROIC (FY25)3.9%
Avg ROIC 5Y3.1%
ROE (TTM)-3.5%
Piotroski Score2 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
EPS Beat Rate3/12 (25%)
Revenue Beat Rate6/12 (50%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q4 2026Latest
Nov 3, 2026
$0.18-16.0%
vs $0.21
$13M-84.9%
vs $86M
Q3 2026
Jul 28, 2026
$0.25+8.8%
vs $0.23
$79M-12.2%
vs $89M
Q2 2026
Apr 29, 2026
$0.28+31.1%
vs $0.21
$87M+0.1%
vs $87M
Q1 2026
Feb 11, 2026
$0.15-31.8%
vs $0.22
$88M+14.7%
vs $76M
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

4 Stories
Zacks Investment Research·Oct 27, 2026
Redwood Trust (RWT) Earnings Expected to Grow: What to Know Ahead of Next Week's Release

Redwood Trust (RWT) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Seeking Alpha·Oct 21, 2026
RWTQ: Priced For Default, Time To Buy (Rating Upgrade)

Redwood Trust, Inc. (RWT) has aggressively issued baby bonds, now totaling $450M outstanding, attracting significant institutional investor activity. RWTQ, the 9.5% Senior Notes Due 2030, trades at distressed levels—$20/share (80 c/$)—implying a market-implied CCC rating and a 16% yield to maturity. We believe RWTQ is priced for default, which is unwarranted given fundamentals, making it an attractive purchase at current levels.

Business Wire·Oct 13, 2026
Redwood Trust Announces Date of Third Quarter 2026 Financial Results Webcast and Conference Call

MILL VALLEY, Calif.--(BUSINESS WIRE)--Redwood Trust, Inc. (NYSE: RWT; “Redwood” or the “Company”), a leader in expanding access to housing for homebuyers and renters, is scheduled to release its third quarter 2026 results on Tuesday, November 3, 2026, after the close of the New York Stock Exchange. In addition, Redwood's senior management team plans to hold a conference call to discuss its third quarter 2026 financial results that same afternoon at 5:00 p.m. Eastern Time / 2:00 p.m. Pacific Tim.

Defense World·Sep 28, 2026
Redwood Trust, Inc. (NYSE:RWT) Sees Significant Growth in Short Interest

Redwood Trust, Inc. (NYSE: RWT - Get Free Report) saw a significant increase in short interest in the month of September. As of September 15th, there was short interest totaling 21,510,300 shares, an increase of 238.4% from the August 31st total of 6,356,217 shares. Based on an average daily volume of 10,267,153 shares, the days-to-cover ratio

Filtered for Redwood Trust, Inc.More Headlines
04

Compare before deciding

Benchmark RWT against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for Redwood Trust, Inc. (RWT)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
RWT logoRWTRedwood Trust, Inc.Current
$3.12$390.67M-12.072.18%-4.66%-3.46%24.35%
MFA logoMFAMFA Financial, Inc.
$6.21$634M-50.45213.02%-2%-0.66%28.82%
MITT logoMITTTPG Mortgage Investment Trust Inc
$4.45$141.53M10.5114.4%2.76%2.48%17.7%
SACH logoSACHSachem Capital Corp.
$0.82$39.25M-4.87-18.16%-18.37%-4.7%24.75%
BXMT logoBXMTBlackstone Mortgage Trust, Inc.
$11.16$1.88B-5.00-13.96%-24.87%-11.52%16.92%
RC logoRCReady Capital Corporation
$0.85$140.72M-0.241725.96%-228.91%-42.2%79.55%

Compare RWT vs Peers

Redwood Trust, Inc. (RWT) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs MFA

Most directly comparable listed peer for RWT.

Scale Benchmark

vs RKT

Larger-name benchmark to compare RWT against a more recognizable public peer.

Peer Set

Compare Top 5

vs MFA, MITT, SACH, BXMT

05

Keep researching

Verify the primary filings, follow material updates, and answer the remaining questions.

RWT SEC Filings & Documents

Redwood Trust, Inc. (RWT) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Oct 13, 2026·SEC

Material company update

Sep 15, 2026·SEC

Material company update

Sep 10, 2026·SEC

10-K Annual Reports

2
FY 2026

Feb 27, 2026·SEC

FY 2025

Mar 3, 2025·SEC

10-Q Quarterly Reports

6
FY 2026

Aug 5, 2026·SEC

FY 2026

May 7, 2026·SEC

FY 2025

Nov 7, 2025·SEC

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RWT Frequently Asked Questions

Redwood Trust, Inc. (RWT) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is Redwood Trust, Inc.'s revenue?

Redwood Trust, Inc. (RWT) reported $688.4M in revenue over the trailing twelve months. Revenue was $1.11B in fiscal year 2025. That is 6450% more than the $16.9M of fiscal year 1996.

How fast is Redwood Trust, Inc. growing?

Redwood Trust, Inc. (RWT) revenue fell by 23.4% over the trailing twelve months, compared with the twelve months before.

Is RWT profitable?

No. Redwood Trust, Inc. (RWT) reported a net loss of $32.1M over the trailing twelve months.

Dividend & Returns
Does RWT pay dividends?

Yes. Redwood Trust, Inc. (RWT) pays a dividend that yields 24.35% at the current price, a high yield.

What is RWT's return on equity?

Redwood Trust, Inc. (RWT) had a return on equity (ROE) of -3.5% over the trailing twelve months. A negative ROE means the company lost money over the period.

Industry Metrics
Is RWT a good dividend stock?

Redwood Trust, Inc. (RWT) offers a 24.35% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.

What if you invested $1,000 in RWT back in 1996?

Total return calculator · dividends reinvested · 30+ years of data

See returns →