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Side-by-side financial comparison of REDWOOD TRUST INC (RWT) and SANDRIDGE ENERGY INC (SD). Click either name above to swap in a different company.

SANDRIDGE ENERGY INC is the larger business by last-quarter revenue ($39.4M vs $25.9M, roughly 1.5× REDWOOD TRUST INC). REDWOOD TRUST INC runs the higher net margin — 77.2% vs 54.9%, a 22.3% gap on every dollar of revenue. On growth, SANDRIDGE ENERGY INC posted the faster year-over-year revenue change (1.1% vs -6.1%). Over the past eight quarters, SANDRIDGE ENERGY INC's revenue compounded faster (14.1% CAGR vs -41.0%).

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.

SandRidge Energy, Inc. is a company engaged in hydrocarbon exploration in the Mid-Continent region of the United States. It is organized in Delaware and headquartered in Oklahoma City, Oklahoma.

RWT vs SD — Head-to-Head

Bigger by revenue
SD
SD
1.5× larger
SD
$39.4M
$25.9M
RWT
Growing faster (revenue YoY)
SD
SD
+7.2% gap
SD
1.1%
-6.1%
RWT
Higher net margin
RWT
RWT
22.3% more per $
RWT
77.2%
54.9%
SD
Faster 2-yr revenue CAGR
SD
SD
Annualised
SD
14.1%
-41.0%
RWT

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
RWT
RWT
SD
SD
Revenue
$25.9M
$39.4M
Net Profit
$20.0M
$21.6M
Gross Margin
Operating Margin
38.5%
Net Margin
77.2%
54.9%
Revenue YoY
-6.1%
1.1%
Net Profit YoY
402.6%
23.1%
EPS (diluted)
$0.11
$0.59

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
RWT
RWT
SD
SD
Q4 25
$25.9M
$39.4M
Q3 25
$15.0M
$39.8M
Q2 25
$13.8M
$34.5M
Q1 25
$27.9M
$42.6M
Q4 24
$27.6M
$39.0M
Q3 24
$25.5M
$30.1M
Q2 24
$67.4M
$26.0M
Q1 24
$74.5M
$30.3M
Net Profit
RWT
RWT
SD
SD
Q4 25
$20.0M
$21.6M
Q3 25
$-7.7M
$16.0M
Q2 25
$-98.5M
$19.6M
Q1 25
$16.1M
$13.0M
Q4 24
$-6.6M
$17.6M
Q3 24
$14.8M
$25.5M
Q2 24
$15.5M
$8.8M
Q1 24
$30.3M
$11.1M
Operating Margin
RWT
RWT
SD
SD
Q4 25
38.5%
Q3 25
-9.0%
37.8%
Q2 25
-679.0%
53.7%
Q1 25
80.2%
28.6%
Q4 24
-1.3%
25.9%
Q3 24
86.1%
28.3%
Q2 24
30.3%
23.9%
Q1 24
41.3%
27.8%
Net Margin
RWT
RWT
SD
SD
Q4 25
77.2%
54.9%
Q3 25
-51.4%
40.1%
Q2 25
-712.0%
56.6%
Q1 25
57.8%
30.6%
Q4 24
-24.0%
45.1%
Q3 24
58.1%
84.8%
Q2 24
23.0%
33.9%
Q1 24
40.6%
36.7%
EPS (diluted)
RWT
RWT
SD
SD
Q4 25
$0.11
$0.59
Q3 25
$-0.08
$0.43
Q2 25
$-0.76
$0.53
Q1 25
$0.10
$0.35
Q4 24
$-0.08
$0.46
Q3 24
$0.09
$0.69
Q2 24
$0.10
$0.24
Q1 24
$0.21
$0.30

Balance Sheet & Financial Strength

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

Metric
RWT
RWT
SD
SD
Cash + ST InvestmentsLiquidity on hand
$255.7M
$111.0M
Total DebtLower is stronger
Stockholders' EquityBook value
$982.6M
$510.9M
Total Assets
$23.7B
$644.0M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
RWT
RWT
SD
SD
Q4 25
$255.7M
$111.0M
Q3 25
$226.3M
$101.2M
Q2 25
$302.0M
$102.8M
Q1 25
$259.9M
$99.7M
Q4 24
$245.2M
$98.1M
Q3 24
$253.7M
$92.7M
Q2 24
$275.6M
$209.9M
Q1 24
$275.4M
$207.0M
Total Debt
RWT
RWT
SD
SD
Q4 25
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24
Q1 24
$1.7B
Stockholders' Equity
RWT
RWT
SD
SD
Q4 25
$982.6M
$510.9M
Q3 25
$999.0M
$492.4M
Q2 25
$1.1B
$480.2M
Q1 25
$1.2B
$464.9M
Q4 24
$1.2B
$460.5M
Q3 24
$1.2B
$446.8M
Q2 24
$1.2B
$424.8M
Q1 24
$1.2B
$419.7M
Total Assets
RWT
RWT
SD
SD
Q4 25
$23.7B
$644.0M
Q3 25
$22.6B
$619.0M
Q2 25
$21.3B
$602.3M
Q1 25
$19.9B
$588.3M
Q4 24
$18.3B
$581.5M
Q3 24
$18.4B
$565.2M
Q2 24
$16.5B
$529.6M
Q1 24
$15.1B
$527.4M
Debt / Equity
RWT
RWT
SD
SD
Q4 25
Q3 25
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
RWT
RWT
SD
SD
Operating Cash FlowLast quarter
$-10.1B
$31.7M
Free Cash FlowOCF − Capex
$14.4M
FCF MarginFCF / Revenue
36.6%
Capex IntensityCapex / Revenue
43.8%
Cash ConversionOCF / Net Profit
-504.15×
1.46×
TTM Free Cash FlowTrailing 4 quarters
$41.5M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
RWT
RWT
SD
SD
Q4 25
$-10.1B
$31.7M
Q3 25
$-2.7B
$25.3M
Q2 25
$-2.1B
$22.9M
Q1 25
$-2.0B
$20.3M
Q4 24
$-5.9B
$26.0M
Q3 24
$-2.1B
$20.8M
Q2 24
$-2.0B
$11.4M
Q1 24
$-954.2M
$15.7M
Free Cash Flow
RWT
RWT
SD
SD
Q4 25
$14.4M
Q3 25
$5.9M
Q2 25
$7.3M
Q1 25
$13.9M
Q4 24
$13.2M
Q3 24
$10.8M
Q2 24
$9.0M
Q1 24
$14.6M
FCF Margin
RWT
RWT
SD
SD
Q4 25
36.6%
Q3 25
14.9%
Q2 25
21.0%
Q1 25
32.7%
Q4 24
33.8%
Q3 24
36.1%
Q2 24
34.5%
Q1 24
48.1%
Capex Intensity
RWT
RWT
SD
SD
Q4 25
43.8%
Q3 25
48.6%
Q2 25
45.2%
Q1 25
15.0%
Q4 24
32.9%
Q3 24
33.3%
Q2 24
9.4%
Q1 24
3.7%
Cash Conversion
RWT
RWT
SD
SD
Q4 25
-504.15×
1.46×
Q3 25
1.58×
Q2 25
1.17×
Q1 25
-120.92×
1.56×
Q4 24
1.48×
Q3 24
-140.86×
0.82×
Q2 24
-126.56×
1.30×
Q1 24
-31.53×
1.41×

Financial Flow Comparison

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

Revenue Breakdown by Segment

RWT
RWT

Segment breakdown not available.

SD
SD

Oil Reserves$19.0M48%
Natural Gas Reserves$11.6M30%
Natural Gas Liquids Reserves$8.7M22%

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