Redwood Trust, Inc. — Earnings Quality Grade F
RWT · Real Estate
Major red flags
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO surged by 105 days (165 → 269)
Small-cap context: DSO swings on a small revenue base are more often quarterly customer-mix effects than red flags.
AR outpaced revenue for 2 consecutive years
Revenue -31.0%, CFFO -72.2%. Cash follows revenue
Expense Quality
No material inventory
Insufficient data
Insufficient data
Insufficient data
Cash Flow Quality
CFFO/NI = 144.15. Profits backed by cash
FCF is negative ($-10.1B)
Accruals ratio = 42.3%. Exceeds 10%
Cash $0.3B covers only 1% of debt $22.1B
Balance Sheet Health
Goodwill+Intangibles $0.0B = 3% of equity. Manageable
Insufficient data
Insufficient data
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change -20% YoY. Normal
Manipulation Score
Insufficient data
Portfolio monitoring
Monitor RWT continuously
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Altman Z-Score — Not Applicable
Redwood Trust, Inc. is a financial company. Z-Score is designed for non-financial companies.
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25