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Side-by-side financial comparison of HYDROFARM HOLDINGS GROUP, INC. (HYFM) and REDWOOD TRUST INC (RWT). Click either name above to swap in a different company.

REDWOOD TRUST INC is the larger business by last-quarter revenue ($25.9M vs $25.1M, roughly 1.0× HYDROFARM HOLDINGS GROUP, INC.). REDWOOD TRUST INC runs the higher net margin — 77.2% vs -963.9%, a 1041.1% gap on every dollar of revenue. On growth, REDWOOD TRUST INC posted the faster year-over-year revenue change (-6.1% vs -32.7%). Over the past eight quarters, HYDROFARM HOLDINGS GROUP, INC.'s revenue compounded faster (-31.9% CAGR vs -41.0%).

Hydrofarm Inc. (HYFM) is an American company specializing in the distribution and manufacture of controlled environment agriculture equipment and supplies.

Redwood Trust Inc is a specialized U.S.-headquartered real estate investment trust (REIT). It manages investment portfolios covering residential and commercial mortgage loans, mortgage-backed securities, and real estate credit assets. Its core segments include residential mortgage lending, commercial real estate credit, and investment management, serving institutional investors and real estate market stakeholders.

HYFM vs RWT — Head-to-Head

Bigger by revenue
RWT
RWT
1.0× larger
RWT
$25.9M
$25.1M
HYFM
Growing faster (revenue YoY)
RWT
RWT
+26.6% gap
RWT
-6.1%
-32.7%
HYFM
Higher net margin
RWT
RWT
1041.1% more per $
RWT
77.2%
-963.9%
HYFM
Faster 2-yr revenue CAGR
HYFM
HYFM
Annualised
HYFM
-31.9%
-41.0%
RWT

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
HYFM
HYFM
RWT
RWT
Revenue
$25.1M
$25.9M
Net Profit
$-242.2M
$20.0M
Gross Margin
8.5%
Operating Margin
-953.8%
Net Margin
-963.9%
77.2%
Revenue YoY
-32.7%
-6.1%
Net Profit YoY
-1282.7%
402.6%
EPS (diluted)
$-52.09
$0.11

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
HYFM
HYFM
RWT
RWT
Q4 25
$25.1M
$25.9M
Q3 25
$29.4M
$15.0M
Q2 25
$39.2M
$13.8M
Q1 25
$40.5M
$27.9M
Q4 24
$37.3M
$27.6M
Q3 24
$44.0M
$25.5M
Q2 24
$54.8M
$67.4M
Q1 24
$54.2M
$74.5M
Net Profit
HYFM
HYFM
RWT
RWT
Q4 25
$-242.2M
$20.0M
Q3 25
$-16.4M
$-7.7M
Q2 25
$-16.9M
$-98.5M
Q1 25
$-14.4M
$16.1M
Q4 24
$-17.5M
$-6.6M
Q3 24
$-13.1M
$14.8M
Q2 24
$-23.4M
$15.5M
Q1 24
$-12.6M
$30.3M
Gross Margin
HYFM
HYFM
RWT
RWT
Q4 25
8.5%
Q3 25
11.6%
Q2 25
7.1%
Q1 25
17.0%
Q4 24
4.9%
Q3 24
19.4%
Q2 24
19.8%
Q1 24
20.2%
Operating Margin
HYFM
HYFM
RWT
RWT
Q4 25
-953.8%
Q3 25
-44.1%
-9.0%
Q2 25
-34.0%
-679.0%
Q1 25
-27.1%
80.2%
Q4 24
-40.5%
-1.3%
Q3 24
-20.5%
86.1%
Q2 24
-35.3%
30.3%
Q1 24
-16.1%
41.3%
Net Margin
HYFM
HYFM
RWT
RWT
Q4 25
-963.9%
77.2%
Q3 25
-55.8%
-51.4%
Q2 25
-43.0%
-712.0%
Q1 25
-35.5%
57.8%
Q4 24
-46.9%
-24.0%
Q3 24
-29.9%
58.1%
Q2 24
-42.8%
23.0%
Q1 24
-23.3%
40.6%
EPS (diluted)
HYFM
HYFM
RWT
RWT
Q4 25
$-52.09
$0.11
Q3 25
$-3.51
$-0.08
Q2 25
$-3.63
$-0.76
Q1 25
$-3.12
$0.10
Q4 24
$-3.80
$-0.08
Q3 24
$-2.86
$0.09
Q2 24
$-5.10
$0.10
Q1 24
$-2.75
$0.21

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
HYFM
HYFM
RWT
RWT
Cash + ST InvestmentsLiquidity on hand
$6.3M
$255.7M
Total DebtLower is stronger
$50.0K
Stockholders' EquityBook value
$-63.3M
$982.6M
Total Assets
$123.8M
$23.7B
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
HYFM
HYFM
RWT
RWT
Q4 25
$6.3M
$255.7M
Q3 25
$10.7M
$226.3M
Q2 25
$11.0M
$302.0M
Q1 25
$13.7M
$259.9M
Q4 24
$26.1M
$245.2M
Q3 24
$24.4M
$253.7M
Q2 24
$30.3M
$275.6M
Q1 24
$24.2M
$275.4M
Total Debt
HYFM
HYFM
RWT
RWT
Q4 25
$50.0K
Q3 25
$111.7M
Q2 25
$111.6M
Q1 25
$110.0M
Q4 24
$114.7M
Q3 24
$114.8M
Q2 24
$114.9M
Q1 24
$115.4M
$1.7B
Stockholders' Equity
HYFM
HYFM
RWT
RWT
Q4 25
$-63.3M
$982.6M
Q3 25
$178.3M
$999.0M
Q2 25
$195.0M
$1.1B
Q1 25
$209.9M
$1.2B
Q4 24
$223.7M
$1.2B
Q3 24
$243.0M
$1.2B
Q2 24
$255.0M
$1.2B
Q1 24
$278.0M
$1.2B
Total Assets
HYFM
HYFM
RWT
RWT
Q4 25
$123.8M
$23.7B
Q3 25
$369.7M
$22.6B
Q2 25
$389.9M
$21.3B
Q1 25
$410.6M
$19.9B
Q4 24
$426.1M
$18.3B
Q3 24
$445.9M
$18.4B
Q2 24
$463.4M
$16.5B
Q1 24
$494.0M
$15.1B
Debt / Equity
HYFM
HYFM
RWT
RWT
Q4 25
Q3 25
0.63×
Q2 25
0.57×
Q1 25
0.52×
Q4 24
0.51×
Q3 24
0.47×
Q2 24
0.45×
Q1 24
0.42×
1.39×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
HYFM
HYFM
RWT
RWT
Operating Cash FlowLast quarter
$-4.0M
$-10.1B
Free Cash FlowOCF − Capex
$-4.3M
FCF MarginFCF / Revenue
-17.1%
Capex IntensityCapex / Revenue
1.3%
Cash ConversionOCF / Net Profit
-504.15×
TTM Free Cash FlowTrailing 4 quarters
$-15.1M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
HYFM
HYFM
RWT
RWT
Q4 25
$-4.0M
$-10.1B
Q3 25
$-37.0K
$-2.7B
Q2 25
$1.7M
$-2.1B
Q1 25
$-11.8M
$-2.0B
Q4 24
$2.7M
$-5.9B
Q3 24
$-4.5M
$-2.1B
Q2 24
$3.8M
$-2.0B
Q1 24
$-2.3M
$-954.2M
Free Cash Flow
HYFM
HYFM
RWT
RWT
Q4 25
$-4.3M
Q3 25
$-207.0K
Q2 25
$1.4M
Q1 25
$-12.0M
Q4 24
$2.4M
Q3 24
$-5.3M
Q2 24
$3.4M
Q1 24
$-3.7M
FCF Margin
HYFM
HYFM
RWT
RWT
Q4 25
-17.1%
Q3 25
-0.7%
Q2 25
3.7%
Q1 25
-29.6%
Q4 24
6.4%
Q3 24
-12.0%
Q2 24
6.2%
Q1 24
-6.9%
Capex Intensity
HYFM
HYFM
RWT
RWT
Q4 25
1.3%
Q3 25
0.6%
Q2 25
0.7%
Q1 25
0.6%
Q4 24
0.7%
Q3 24
1.8%
Q2 24
0.7%
Q1 24
2.7%
Cash Conversion
HYFM
HYFM
RWT
RWT
Q4 25
-504.15×
Q3 25
Q2 25
Q1 25
-120.92×
Q4 24
Q3 24
-140.86×
Q2 24
-126.56×
Q1 24
-31.53×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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