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Side-by-side financial comparison of Nuvation Bio Inc. (NUVB) and REDWOOD TRUST INC (RWT). Click either name above to swap in a different company.

Nuvation Bio Inc. is the larger business by last-quarter revenue ($41.9M vs $25.9M, roughly 1.6× REDWOOD TRUST INC). On growth, Nuvation Bio Inc. posted the faster year-over-year revenue change (633.1% vs -6.1%).

Nuvation Bio Inc. is a clinical-stage biopharmaceutical company focused on researching and developing targeted oncology therapies to address unmet medical needs in difficult-to-treat cancer types. Its core pipeline features novel drug candidates targeting key oncogenic pathways, with primary operations and market presence centered in North America.

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.

NUVB vs RWT — Head-to-Head

Bigger by revenue
NUVB
NUVB
1.6× larger
NUVB
$41.9M
$25.9M
RWT
Growing faster (revenue YoY)
NUVB
NUVB
+639.1% gap
NUVB
633.1%
-6.1%
RWT

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
NUVB
NUVB
RWT
RWT
Revenue
$41.9M
$25.9M
Net Profit
$20.0M
Gross Margin
Operating Margin
-81.3%
Net Margin
77.2%
Revenue YoY
633.1%
-6.1%
Net Profit YoY
402.6%
EPS (diluted)
$-0.11
$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
NUVB
NUVB
RWT
RWT
Q4 25
$41.9M
$25.9M
Q3 25
$13.1M
$15.0M
Q2 25
$13.8M
Q1 25
$27.9M
Q4 24
$5.7M
$27.6M
Q3 24
$25.5M
Q2 24
$67.4M
Q1 24
$0
$74.5M
Net Profit
NUVB
NUVB
RWT
RWT
Q4 25
$20.0M
Q3 25
$-55.8M
$-7.7M
Q2 25
$-98.5M
Q1 25
$16.1M
Q4 24
$-6.6M
Q3 24
$14.8M
Q2 24
$15.5M
Q1 24
$-14.8M
$30.3M
Gross Margin
NUVB
NUVB
RWT
RWT
Q4 25
Q3 25
74.5%
Q2 25
Q1 25
Q4 24
26.2%
Q3 24
Q2 24
Q1 24
Operating Margin
NUVB
NUVB
RWT
RWT
Q4 25
-81.3%
Q3 25
-430.1%
-9.0%
Q2 25
-679.0%
Q1 25
80.2%
Q4 24
-944.5%
-1.3%
Q3 24
86.1%
Q2 24
30.3%
Q1 24
41.3%
Net Margin
NUVB
NUVB
RWT
RWT
Q4 25
77.2%
Q3 25
-425.2%
-51.4%
Q2 25
-712.0%
Q1 25
57.8%
Q4 24
-24.0%
Q3 24
58.1%
Q2 24
23.0%
Q1 24
40.6%
EPS (diluted)
NUVB
NUVB
RWT
RWT
Q4 25
$-0.11
$0.11
Q3 25
$-0.16
$-0.08
Q2 25
$-0.76
Q1 25
$0.10
Q4 24
$0.00
$-0.08
Q3 24
$0.09
Q2 24
$0.10
Q1 24
$-0.07
$0.21

Balance Sheet & Financial Strength

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

Metric
NUVB
NUVB
RWT
RWT
Cash + ST InvestmentsLiquidity on hand
$529.2M
$255.7M
Total DebtLower is stronger
$47.2M
Stockholders' EquityBook value
$305.7M
$982.6M
Total Assets
$594.8M
$23.7B
Debt / EquityLower = less leverage
0.15×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
NUVB
NUVB
RWT
RWT
Q4 25
$529.2M
$255.7M
Q3 25
$549.0M
$226.3M
Q2 25
$302.0M
Q1 25
$259.9M
Q4 24
$502.7M
$245.2M
Q3 24
$253.7M
Q2 24
$275.6M
Q1 24
$597.0M
$275.4M
Total Debt
NUVB
NUVB
RWT
RWT
Q4 25
$47.2M
Q3 25
$47.1M
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24
Q1 24
$1.7B
Stockholders' Equity
NUVB
NUVB
RWT
RWT
Q4 25
$305.7M
$982.6M
Q3 25
$325.9M
$999.0M
Q2 25
$1.1B
Q1 25
$1.2B
Q4 24
$463.8M
$1.2B
Q3 24
$1.2B
Q2 24
$1.2B
Q1 24
$594.0M
$1.2B
Total Assets
NUVB
NUVB
RWT
RWT
Q4 25
$594.8M
$23.7B
Q3 25
$601.6M
$22.6B
Q2 25
$21.3B
Q1 25
$19.9B
Q4 24
$540.6M
$18.3B
Q3 24
$18.4B
Q2 24
$16.5B
Q1 24
$613.1M
$15.1B
Debt / Equity
NUVB
NUVB
RWT
RWT
Q4 25
0.15×
Q3 25
0.14×
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24
Q1 24
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
NUVB
NUVB
RWT
RWT
Operating Cash FlowLast quarter
$-29.7M
$-10.1B
Free Cash FlowOCF − Capex
FCF MarginFCF / Revenue
Capex IntensityCapex / Revenue
Cash ConversionOCF / Net Profit
-504.15×
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
NUVB
NUVB
RWT
RWT
Q4 25
$-29.7M
$-10.1B
Q3 25
$-52.9M
$-2.7B
Q2 25
$-2.1B
Q1 25
$-2.0B
Q4 24
$-46.3M
$-5.9B
Q3 24
$-2.1B
Q2 24
$-2.0B
Q1 24
$-15.7M
$-954.2M
Cash Conversion
NUVB
NUVB
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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