Redwood Trust Inc key statistics and ratios
In fiscal 2023, Redwood Trust Inc had return on equity of -0.2% and a net margin of -1.4%. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.
Financial ratios
| Fiscal year | 2011Dec 2011 | 2012Dec 2012 | 2013Dec 2013 | 2014Dec 2014 | 2015Dec 2015 | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | LTMJun 2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net margin | 29.6% | 65.1% | 60.3% | 52.3% | 54.1% | 60.6% | 61.2% | 56.0% | 54.9% | — | 59.0% | — | −1.4% | 16.6% |
| Return on equity | 3.0% | 13.0% | 14.5% | 8.0% | 8.5% | 11.4% | 11.9% | 9.3% | 10.7% | −39.6% | 25.6% | −13.2% | −0.2% | 3.0% |
| Return on assets | 0.5% | 2.6% | 3.8% | 1.9% | 1.7% | 2.2% | 2.2% | 1.3% | 1.1% | −4.1% | 2.6% | −1.2% | −0.0% | 0.2% |
| Effective tax rate | 0.2% | 1.0% | 5.9% | 0.7% | −11.3% | 2.7% | 7.7% | 8.5% | 4.2% | — | 5.5% | — | — | 18.4% |
| Dividends ÷ net income | 382.2% | 62.4% | 54.5% | 94.7% | 92.9% | 67.4% | 62.9% | 80.9% | 76.5% | — | 28.7% | — | — | 238.5% |
Moat
Weak moat
How hard Redwood Trust's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.
- Returns on capital 1 / 20
Net income has been a median 0.3% of total assets over 10 years.
- Durability 10 / 20
Net margin has been a median 56.5%; its worst year was -105.8%.
- Discipline 15 / 20
The diluted share count fell 8.3% over five years; stock-based pay has been a median 5.5% of revenue.
AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.
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