← REDWOOD TRUST INC
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | ||||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||
| Net Income (Loss) Attributable to Parent | — | — | $119.6m |
$169.2m
+41.46%
|
($581.8m)
-443.92%
|
$319.6m
+154.93%
|
($163.5m)
-151.16%
|
($2.3m)
+98.61%
|
$54.0m
+2474.85%
|
($70.0m)
-229.67%
|
— | |
| Net Income (Loss) Available to Common Stockholders, Basic | — | — | $115.8m |
$164.4m
+41.90%
|
($583.8m)
-455.16%
|
$309.0m
+152.92%
|
($167.9m)
-154.33%
|
($9.0m)
+94.66%
|
$47.0m
+624.55%
|
($77.0m)
-263.96%
|
— | |
| Depreciation and amortization | $1.1m | $1.2m | $1.3m | $10.1m | $17.4m | $16.8m | $15.9m | $14.9m | $11.9m | $10.1m | $9.3m | |
| Amortization of Debt Issuance Costs | — | — | $16.9m | $33.7m | $21.8m | $25.4m | $24.8m | — | — | — | — | |
| Amortization | — | — | $12.4m | ($3.4m) | ($25.3m) | ($45.2m) | ($21.9m) | ($31.5m) | — | — | $13.3m | |
| Amortization of Intangible Assets | — | — | — | $8.5m | $16.0m | $15.0m | — | $12.0m | $9.0m | $8.0m | — | |
| Amortization of premiums, discounts, and debt issuance costs, net | ($26.5m) | ($18.2m) | ($13.7m) | ($5.1m) | $8.6m | ($9.8m) | $6.3m | $17.9m | $12.2m | $13.0m | — | |
| Depreciation Amortization Depletion | — | — | — | — | — | — | $15.9m | $14.9m | $11.9m | $10.1m | $9.3m | |
| Deferred Income Tax Expense (Benefit) | — | — | ($1.1m) | ($5.5m) | ($6.0m) | ($20.1m) | ($20.8m) | $1.5m | $13.0m | $14.8m | — | |
| Share-based Payment Arrangement, Noncash Expense | — | — | $13.7m | $15.0m | $15.3m | $18.9m | $23.9m | $19.1m | — | — | $18.4m | |
| Payment, Tax Withholding, Share-based Payment Arrangement | — | — | $4.8m | $5.5m | $4.3m | $2.3m | $2.4m | $5.4m | $5.0m | $5.3m | — | |
| Share-based Payment Arrangement, Expense | — | — | $12.4m | $13.4m | $12.4m | $19.9m | $23.1m | $24.9m | $25.0m | $20.0m | $18.4m | |
| Goodwill, Impairment Loss | — | — | — | $0 | $88.7m | $0 | $0 | $0 | — | — | $0 | |
| Asset Impairment Charge | — | — | — | — | — | $0 | $0 | — | — | — | $0 | |
| Income (Loss) from Equity Method Investments | — | — | $618k | $1.4m | $1.0m | — | — | — | — | — | — | |
| Other Nonoperating Income (Expense) | — | — | $0 | $1.8m | $4.3m | $2.4m | ($240k) | $145k | — | — | — | |
| Changes in operating assets and liabilities: | ||||||||||||
| Change In Working Capital | — | — | — | — | — | — | ($36.6m) | ($51.5m) | ($16.5m) | $85.5m | ($34.5m) | |
| Change In Receivables | — | — | — | — | — | — | $42.6m | ($41.2m) | ($40.7m) | $103.6m | $103.6m | |
| Changes In Account Receivables | — | — | — | — | — | — | $42.6m | ($41.2m) | ($40.7m) | $103.6m | $103.6m | |
| Accrued interest receivable and other assets | $42.6m | ($17.6m) | ($41.8m) | ($83.2m) | $301.4m | ($64.8m) | $42.6m | ($41.2m) | ($40.7m) | $103.6m | — | |
| Accrued interest payable and accrued expenses and other liabilities | $3.6m | ($4.8m) | $21.1m | $4.5m | ($68.5m) | $42.0m | ($79.2m) | ($10.3m) | $24.2m | ($18.1m) | — | |
| Increase (Decrease) in Other Operating Assets | — | — | $41.8m | $83.2m | ($301.4m) | $64.8m | ($42.6m) | $41.2m | $40.7m | ($103.6m) | — | |
| Other Operating Income (Expense), Net | — | — | $13.1m | $19.3m | $4.2m | $12.0m | $21.2m | $12.9m | $27.5m | $3.9m | — | |
| Net Cash Provided by (Used in) Operating Activities | ($545.7m) |
($1.7b)
-213.97%
|
($1.6b)
+5.92%
|
($1.2b)
+27.68%
|
($505.5m)
+56.63%
|
($5.7b)
-1026.59%
|
($139.1m)
+97.56%
|
($2.0b)
-1348.77%
|
($5.9b)
-190.83%
|
($10.1b)
-72.19%
|
($14.3b)
-41.50%
|
|
| Cash flows from investing activities: | ||||||||||||
| Debt Securities, Available-for-sale, Allowance for Credit Loss, Not Previously Recorded | — | — | — | — | $1.9m | $0 | $1.7m | $300k | $88k | $270k | — | |
| Debt Securities, Available-for-sale, Realized Gain (Loss) | — | — | $27.0m | — | — | — | — | — | — | — | — | |
| Gain (Loss) on Sale of Investments | — | — | $27.0m | $23.8m | $30.4m | $18.0m | $5.3m | $1.7m | $307k | ($608k) | — | |
| Unrealized Gain (Loss) on Investments | — | — | ($25.7m) | $35.5m | ($588.4m) | $128.0m | ($175.6m) | ($44.4m) | ($14.8m) | ($97.4m) | — | |
| Originations of loan investments | — | — | — | — | ($426.4m) | ($894.9m) | ($1.6b) | ($806.9m) | ($120.7m) | ($632.8m) | — | |
| Proceeds from sales of loan investments | $235.6m | $0 | $0 | $9.4m | $1.6b | $9.5m | $2.3m | $45.7m | $94.3m | $100.6m | — | |
| Principal payments on loan investments | — | — | — | — | $2.3b | $2.6b | $2.0b | $1.5b | $2.8b | $4.7b | — | |
| Repayments from servicer advance investments, net | $0 | $0 | $94.6m | $203.9m | $107.5m | $76.2m | $70.6m | $55.8m | $357k | $5.5m | — | |
| Payments to Acquire Businesses, Net of Cash Acquired | — | — | $10.0m | $3.7m | $0 | $0 | $40.6m | $0 | $0 | — | ($7.9m) | |
| Payments for (Proceeds from) Other Investing Activities | — | — | $19.1m | $67.7m | $18.3m | $32.5m | $4.4m | $5.0m | $27.9m | $30.6m | — | |
| Other investing activities, net | $0 | $0 | ($10.1m) | ($67.7m) | ($18.3m) | ($32.5m) | ($4.4m) | ($5.0m) | ($27.9m) | ($30.6m) | — | |
| Net Other Investing Changes | — | — | — | — | — | — | ($4.4m) | ($5.0m) | ($27.9m) | ($30.6m) | ($15.9m) | |
| Net Cash Provided by (Used in) Investing Activities | $1.3b | $286.9m | ($12.8m) | $1.0b | $4.1b | $1.4b | $213.9m | $908.7m | $2.5b | $4.5b | $5.6b | |
| Cash flows from financing activities: | ||||||||||||
| Repayments of Long-term Debt | — | — | — | — | — | — | — | — | — | — | ($29.0b) | |
| Proceeds from Issuance of Long-term Debt | — | — | — | — | — | — | — | — | — | — | $37.7b | |
| Proceeds from borrowings on debt obligations | — | — | — | — | — | — | $7.0b | $3.7b | $10.0b | $17.4b | — | |
| Repayments on borrowings on debt obligations | — | — | — | — | — | — | ($7.1b) | ($4.2b) | ($9.8b) | ($16.1b) | — | |
| Debt issuance costs paid | $0 | ($7.4m) | ($5.0m) | ($7.0m) | ($10.2m) | ($4.1m) | ($21.1m) | ($3.2m) | ($16.7m) | ($22.2m) | — | |
| Issuance Of Debt | — | — | — | — | — | — | $8.4b | $6.2b | $15.3b | $26.4b | $37.7b | |
| Long Term Debt Issuance | — | — | — | — | — | — | $8.4b | $6.2b | $15.3b | $26.4b | $37.7b | |
| Long Term Debt Payments | — | — | — | — | — | — | ($8.6b) | ($5.1b) | ($11.9b) | ($20.5b) | ($29.0b) | |
| Net Issuance Payments Of Debt | — | — | — | — | — | — | ($148.4m) | $1.1b | $3.4b | $5.9b | $8.7b | |
| Net Long Term Debt Issuance | — | — | — | — | — | — | ($148.4m) | $1.1b | $3.4b | $5.9b | $8.7b | |
| Net Short Term Debt Issuance | — | — | — | — | — | $1.8b | ($1.1b) | ($371.1m) | — | — | — | |
| Repayment Of Debt | — | — | — | — | — | — | ($8.6b) | ($5.1b) | ($11.9b) | ($20.5b) | ($29.0b) | |
| Short Term Debt Issuance | — | — | — | — | — | $13.2b | $4.8b | $3.0b | — | — | — | |
| Short Term Debt Payments | — | — | — | — | — | ($11.4b) | ($6.0b) | ($3.3b) | — | — | — | |
| Payments for Repurchase of Common Stock | ($28.1m) | ($8.4m) | $16.3m | $0 | $21.7m | $0 | $56.5m | $0 | $0 | $51.8m | — | |
| Payments of Ordinary Dividends, Common Stock | — | — | $97 | $129 | $84 | $92 | $112 | $88 | $93 | $99 | ($103.1m) | |
| Proceeds from Issuance of Common Stock | $304k | $302k | $142.6m | $450.7m | $5.9m | $21.9m | $68.0m | $124.5m | $462k | $434k | $384k | |
| Dividends paid on common stock | — | — | — | — | — | ($92) | ($112) | ($88) | ($93) | ($99) | ($103.1m) | |
| Common Stock Dividend Paid | — | — | — | — | — | — | ($111.7m) | ($88.4m) | ($92.9m) | ($99.0m) | ($96.1m) | |
| Common Stock Issuance | — | — | — | — | — | — | $68.0m | $124.5m | $462k | $434k | $384k | |
| Common Stock Payments | — | — | — | — | — | — | ($56.5m) | $0 | $0 | ($51.8m) | ($45.4m) | |
| Issuance Of Capital Stock | — | — | — | — | — | — | $68.0m | $191.4m | $462k | $434k | $384k | |
| Net Common Stock Issuance | — | — | — | — | — | — | $11.5m | $124.5m | $462k | ($51.4m) | ($45.1m) | |
| Repurchase Of Capital Stock | — | — | — | — | — | — | ($56.5m) | $0 | $0 | ($51.8m) | ($45.4m) | |
| Dividends Payable | — | — | — | — | — | — | — | $1 | $1 | $1 | — | |
| Dividends paid on preferred stock | — | — | — | — | — | $0 | $0 | ($5.2m) | ($7.0m) | ($7.0m) | ($103.1m) | |
| Dividends declared but not paid on preferred stock | — | — | — | — | — | $0 | $0 | $1.5m | $1.5m | $1.5m | — | |
| Cash Dividends Paid | — | — | — | — | — | — | ($111.7m) | ($93.6m) | ($99.9m) | ($106.0m) | ($103.1m) | |
| Preferred Stock Dividend Paid | — | — | — | — | — | — | $0 | ($5.2m) | ($7.0m) | ($7.0m) | ($7.0m) | |
| Proceeds from (Payments for) Other Financing Activities | — | — | ($291k) | ($2.1m) | $3.9m | $7.0m | ($4.8m) | ($6.9m) | ($1.9m) | ($750k) | — | |
| Other financing activities, net | — | ($137k) | ($291k) | ($2.1m) | $3.9m | $7.0m | ($4.8m) | ($6.9m) | ($1.9m) | ($750k) | — | |
| Net Other Financing Charges | — | — | — | — | — | — | ($28.4m) | ($15.4m) | ($23.6m) | ($28.2m) | ($29.6m) | |
| Net Cash Provided by (Used in) Financing Activities | ($795.4m) |
$1.4b
+270.75%
|
$1.7b
+23.90%
|
$225.5m
-86.60%
|
($3.3b)
-1568.63%
|
$4.3b
+229.18%
|
($276.9m)
-106.47%
|
$1.1b
+514.11%
|
$3.3b
+185.06%
|
$5.7b
+74.36%
|
$8.5b
+49.74%
|
|
| Net increase (decrease) in cash and cash equivalents | ($7.4m) | ($74.7m) | $58.3m | $85.8m | $253.6m | ($13.0m) | ($202.1m) | $39.4m | ($55.9m) | $136.2m | — | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | — | — | $58.3m | $85.8m | $253.6m | ($13.0m) | ($202.1m) | $39.4m | ($55.9m) | $136.2m | $291.3m | |
| Cash, cash equivalents and restricted cash at beginning of year | $221.5m | $146.8m | $205.1m | $290.8m | $544.5m | $531.5m | $329.4m | $368.8m | $312.9m | $449.1m | — | |
| Beginning Cash Position | — | — | — | — | — | — | $531.5m | $329.4m | $368.8m | $312.9m | $448.2m | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | $205.1m | $290.8m | $544.5m | $531.5m | $329.4m | $368.8m | $312.9m | $449.1m | $291.3m | |
| Additional Supplementary Disclosures | ||||||||||||
| Additional Supplementary Disclosures | ||||||||||||
| Supplemental disclosure of cash flow information: | ||||||||||||
| Interest Paid, Excluding Capitalized Interest, Operating Activities | $87.2m | $103.3m | $207.0m | $452.2m | $456.1m | $400.8m | $518.6m | $603.3m | $811.4m | $1.1b | — | |
| Income Taxes Paid, Net | ($7.3m) | ($4.1m) | ($4.8m) | ($5.5m) | ($4.3m) | ($2.3m) | ($2.4m) | ($1.4m) | $4.1m | $8.8m | — | |
| Additional Financial Items | ||||||||||||
| Derivative, Gain (Loss) on Derivative, Net | — | — | — | — | — | — | — | — | ($20.1m) | $235.8m | — | |
| General and Administrative Expense | — | — | $82.8m | $118.7m | $115.2m | $170.9m | $140.9m | $128.3m | $136.4m | $153.9m | — | |
| Goodwill | — | — | $0 | $88.7m | — | — | $23.4m | $23.4m | $23.4m | $23.4m | $0 | |
| Income Tax Expense (Benefit) | — | — | $11.1m | $7.4m | ($4.6m) | $18.5m | ($19.9m) | $1.6m | $18.8m | $25.2m | — | |
| Operating Costs and Expenses | — | — | $196k | $13.0m | $108.8m | $16.7m | $15.6m | $16.2m | — | — | — | |
| Operating Expenses | — | — | $83.0m | $131.7m | $235.0m | $203.9m | $176.2m | $166.3m | — | — | — | |
| Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax | — | — | $0 | — | — | — | — | — | — | — | — | |
| Provision for Loan, Lease, and Other Losses | — | — | — | — | — | — | — | — | — | — | — | |
| Realized Investment Gains (Losses) | — | — | $27.0m | $23.8m | $30.4m | $18.0m | $5.3m | $1.7m | $306k | ($608k) | — | |
| Net (loss) income | $131.3m | $140.4m | $119.6m | $169.2m | ($581.8m) | $319.6m | ($163.5m) | ($2.3m) | $54.0m | ($70.0m) | — | |
| Originations of held-for-sale loans | — | $0 | $0 | ($569.9m) | ($1.0b) | ($1.3b) | ($1.1b) | ($774.6m) | ($1.6b) | ($1.9b) | — | |
| Purchases of held-for-sale loans | ($5.0b) | ($5.7b) | ($7.2b) | ($5.8b) | ($4.4b) | ($13.2b) | ($3.8b) | ($2.0b) | ($7.1b) | ($14.6b) | — | |
| Proceeds from sales of held-for-sale loans | $4.2b | $3.9b | $5.4b | $5.2b | $4.8b | $8.6b | $4.3b | $781.4m | $2.8b | $6.0b | — | |
| Principal payments on held-for-sale loans | $80.0m | $53.0m | $66.9m | $106.2m | $62.7m | $84.2m | $196.5m | $52.1m | $112.1m | $264.7m | — | |
| Net settlements of derivatives | ($156k) | ($137k) | ($291k) | ($66.1m) | ($84.3m) | $0 | $0 | $11.1m | ($74.4m) | $62.9m | — | |
| Non-cash equity award compensation expense and other | — | — | — | — | — | — | $23.9m | $19.1m | $20.7m | $17.2m | — | |
| Market valuation adjustments | $12.9m | ($51.5m) | ($24.1m) | ($97.0m) | $541.4m | ($321.4m) | $227.2m | ($35.8m) | ($108.4m) | ($43.0m) | — | |
| Realized losses (gains), net | ($28.0m) | ($13.4m) | ($27.0m) | ($23.8m) | ($30.4m) | ($18.0m) | ($5.3m) | ($1.7m) | ($307k) | $608k | — | |
| Purchases of real estate securities | ($318.3m) | ($600.9m) | ($609.6m) | ($345.4m) | ($112.6m) | ($68.6m) | ($15.0m) | ($9.9m) | ($234.8m) | ($257.3m) | — | |
| Proceeds from sales of real estate securities | $497.2m | $228.4m | $582.3m | $707.4m | $658.9m | $39.7m | $31.7m | $143.9m | $2.8m | $385.4m | — | |
| Principal payments on real estate securities | $80.1m | $77.8m | $84.5m | $84.3m | $27.2m | $60.7m | $32.7m | $1.1m | $8.5m | $15.9m | — | |
| Purchases of HEI | — | — | — | — | $734k | ($133.5m) | ($248.2m) | ($108.1m) | ($2.0m) | ($13.0m) | — | |
| Repayments on HEI | — | — | — | $0 | $734k | ($133.5m) | $42.7m | $43.0m | $49.6m | $32.4m | — | |
| Proceeds from sales of HEI | — | — | — | — | — | — | — | $0 | $0 | $262.4m | — | |
| Proceeds from issuance of asset-backed securities | $0 | $567.1m | $1.7b | $1.4b | $1.7b | $4.5b | $1.4b | $2.5b | $5.3b | $9.0b | — | |
| Repayments on asset-backed securities issued | ($261.4m) | ($205.2m) | ($459.2m) | ($1.1b) | ($1.5b) | ($2.0b) | ($1.5b) | ($872.7m) | ($2.2b) | ($4.4b) | — | |
| Net proceeds from issuance of preferred stock | — | — | — | — | — | $0 | $0 | $66.9m | $0 | $0 | — | |
| Retention of mortgage servicing rights from loan securitizations and sales | $10.1m | $7.4m | $328k | $868k | $0 | $7.1m | $4.5m | $0 | $1.3m | $2.4m | — | |
| Transfers from loans held-for-sale to loans held-for-investment | $1.1b | $1.2b | $2.1b | $1.8b | $1.9b | $5.0b | $2.9b | $2.8b | $5.7b | $8.8b | — | |
| Transfers from loans held-for-investment to loans held-for-sale | $359.0m | $98.9m | $15.7m | $22.8m | $64.5m | $92.4m | $0 | $28.0m | $14.9m | $2.1b | — | |
| Transfers from residential loans to real estate owned | $11.6m | $4.2m | $4.1m | $8.6m | $14.2m | $40.0m | $8.5m | $100.3m | $22.6m | $144.8m | — | |
| Consolidation of securitized CAFL bridge loans at issuance | — | — | — | — | — | — | $0 | $0 | $287.6m | $293.6m | — | |
| Consolidation of CAFL bridge ABS | — | — | — | — | — | — | $0 | $0 | $285.0m | $568.2m | — | |
| Deconsolidation of securitized reperforming loans | — | — | — | — | — | — | — | $0 | $0 | $1.2b | — | |
| Deconsolidation of securitized reperforming ABS | — | — | — | — | — | — | — | $0 | $0 | $988.4m | — | |
| Operating lease right-of-use assets obtained in exchange for operating lease liabilities | — | $0 | $0 | $13.1m | $7.9m | $7.0m | $0 | $478k | $282k | $3.1m | — | |
| Reduction in operating lease liabilities due to lease modification | — | — | $0 | $0 | $1.7m | $0 | $0 | $274k | $0 | $0 | — | |
| Cash Flow From Continuing Financing Activities | — | — | — | — | — | — | ($276.9m) | $1.1b | $3.3b | $5.7b | $8.5b | |
| Cash Flow From Continuing Investing Activities | — | — | — | — | — | — | $213.9m | $908.7m | $2.5b | $4.5b | $5.6b | |
| Change In Account Payable | — | — | — | — | — | — | ($79.2m) | ($10.3m) | $24.2m | ($18.1m) | ($18.1m) | |
| Change In Cash Supplemental As Reported | — | — | — | — | — | — | ($202.1m) | $39.4m | ($55.9m) | $136.2m | — | |
| Change In Payable | — | — | — | — | — | — | ($79.2m) | ($10.3m) | $24.2m | ($18.1m) | ($18.1m) | |
| Changes In Cash | — | — | — | — | — | — | ($202.1m) | $39.4m | ($55.9m) | $136.2m | ($156.9m) | |
| End Cash Position | — | — | — | — | — | — | $329.4m | $368.8m | $312.9m | $449.1m | $291.3m | |
| Financing Cash Flow | — | — | — | — | — | — | ($276.9m) |
$1.1b
+514.11%
|
$3.3b
+185.06%
|
$5.7b
+74.36%
|
$8.5b
+49.74%
|
|
| Free Cash Flow | — | — | — | — | — | — | ($139.1m) | ($2.0b) | ($5.9b) | ($10.1b) | ($14.3b) | |
| Gain Loss On Investment Securities | — | — | — | — | — | — | ($5.3m) | ($1.7m) | ($307k) | $608k | $1.8m | |
| Investing Cash Flow | — | — | — | — | — | — | $213.9m | $908.7m | $2.5b | $4.5b | $5.6b | |
| Net Business Purchase And Sale | — | — | — | — | — | $0 | ($40.6m) | $0 | $0 | — | ($18.1m) | |
| Net Investment Purchase And Sale | — | — | — | — | — | — | ($85.4m) | $125.9m | ($175.6m) | $431.4m | $338.9m | |
| Net Preferred Stock Issuance | — | — | — | — | — | — | $0 | $66.9m | $0 | $0 | $0 | |
| Operating Gains Losses | — | — | — | — | — | — | $193.6m | $9.4m | ($74.7m) | $63.5m | ($27.2m) | |
| Other Non Cash Items | — | — | — | — | — | — | ($178.8m) | ($2.0b) | ($5.9b) | ($10.2b) | — | |
| Purchase Of Business | — | — | — | — | — | $0 | ($40.6m) | $0 | $0 | — | ($7.9m) | |
| Purchase Of Investment | — | — | — | — | — | — | ($263.2m) | ($117.9m) | ($236.9m) | ($270.3m) | ($341.1m) | |
| Sale Of Investment | — | — | — | — | — | — | $177.8m | $243.8m | $61.3m | $701.7m | $680.0m | |
| Stock Based Compensation | — | — | — | — | — | — | $23.9m | $19.1m | $20.7m | $17.2m | $18.4m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.