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Side-by-side financial comparison of REDWOOD TRUST INC (RWT) and Americas Gold & Silver Corp (USAS). Click either name above to swap in a different company.

REDWOOD TRUST INC is the larger business by last-quarter revenue ($25.9M vs $19.1M, roughly 1.4× Americas Gold & Silver Corp). REDWOOD TRUST INC runs the higher net margin — 77.2% vs -82.3%, a 159.6% gap on every dollar of revenue. On growth, REDWOOD TRUST INC posted the faster year-over-year revenue change (-6.1% vs -28.0%).

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.

Pan American Silver Corporation is a mining company based in Canada with operations in Latin America. The company has mines and other projects in Mexico, Peru, Bolivia, and Argentina.

RWT vs USAS — Head-to-Head

Bigger by revenue
RWT
RWT
1.4× larger
RWT
$25.9M
$19.1M
USAS
Growing faster (revenue YoY)
RWT
RWT
+22.0% gap
RWT
-6.1%
-28.0%
USAS
Higher net margin
RWT
RWT
159.6% more per $
RWT
77.2%
-82.3%
USAS

Income Statement — Q4 FY2025 vs Q3 FY2025

Metric
RWT
RWT
USAS
USAS
Revenue
$25.9M
$19.1M
Net Profit
$20.0M
$-15.7M
Gross Margin
34.2%
Operating Margin
Net Margin
77.2%
-82.3%
Revenue YoY
-6.1%
-28.0%
Net Profit YoY
402.6%
2.8%
EPS (diluted)
$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
RWT
RWT
USAS
USAS
Q4 25
$25.9M
Q3 25
$15.0M
$19.1M
Q2 25
$13.8M
Q1 25
$27.9M
Q4 24
$27.6M
Q3 24
$25.5M
$26.5M
Q2 24
$67.4M
Q1 24
$74.5M
Net Profit
RWT
RWT
USAS
USAS
Q4 25
$20.0M
Q3 25
$-7.7M
$-15.7M
Q2 25
$-98.5M
Q1 25
$16.1M
Q4 24
$-6.6M
Q3 24
$14.8M
$-16.2M
Q2 24
$15.5M
Q1 24
$30.3M
Gross Margin
RWT
RWT
USAS
USAS
Q4 25
Q3 25
34.2%
Q2 25
Q1 25
Q4 24
Q3 24
23.6%
Q2 24
Q1 24
Operating Margin
RWT
RWT
USAS
USAS
Q4 25
Q3 25
-9.0%
Q2 25
-679.0%
Q1 25
80.2%
Q4 24
-1.3%
Q3 24
86.1%
Q2 24
30.3%
Q1 24
41.3%
Net Margin
RWT
RWT
USAS
USAS
Q4 25
77.2%
Q3 25
-51.4%
-82.3%
Q2 25
-712.0%
Q1 25
57.8%
Q4 24
-24.0%
Q3 24
58.1%
-60.9%
Q2 24
23.0%
Q1 24
40.6%
EPS (diluted)
RWT
RWT
USAS
USAS
Q4 25
$0.11
Q3 25
$-0.08
Q2 25
$-0.76
Q1 25
$0.10
Q4 24
$-0.08
Q3 24
$0.09
Q2 24
$0.10
Q1 24
$0.21

Balance Sheet & Financial Strength

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

Metric
RWT
RWT
USAS
USAS
Cash + ST InvestmentsLiquidity on hand
$255.7M
$39.1M
Total DebtLower is stronger
Stockholders' EquityBook value
$982.6M
$50.2M
Total Assets
$23.7B
$234.7M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
RWT
RWT
USAS
USAS
Q4 25
$255.7M
Q3 25
$226.3M
$39.1M
Q2 25
$302.0M
Q1 25
$259.9M
Q4 24
$245.2M
Q3 24
$253.7M
Q2 24
$275.6M
Q1 24
$275.4M
Total Debt
RWT
RWT
USAS
USAS
Q4 25
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24
Q1 24
$1.7B
Stockholders' Equity
RWT
RWT
USAS
USAS
Q4 25
$982.6M
Q3 25
$999.0M
$50.2M
Q2 25
$1.1B
Q1 25
$1.2B
Q4 24
$1.2B
Q3 24
$1.2B
$53.1M
Q2 24
$1.2B
Q1 24
$1.2B
Total Assets
RWT
RWT
USAS
USAS
Q4 25
$23.7B
Q3 25
$22.6B
$234.7M
Q2 25
$21.3B
Q1 25
$19.9B
Q4 24
$18.3B
Q3 24
$18.4B
Q2 24
$16.5B
Q1 24
$15.1B
Debt / Equity
RWT
RWT
USAS
USAS
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
USAS
USAS
Operating Cash FlowLast quarter
$-10.1B
$-12.5M
Free Cash FlowOCF − Capex
$-41.3M
FCF MarginFCF / Revenue
-216.5%
Capex IntensityCapex / Revenue
150.8%
Cash ConversionOCF / Net Profit
-504.15×
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
RWT
RWT
USAS
USAS
Q4 25
$-10.1B
Q3 25
$-2.7B
$-12.5M
Q2 25
$-2.1B
Q1 25
$-2.0B
Q4 24
$-5.9B
Q3 24
$-2.1B
$2.4M
Q2 24
$-2.0B
Q1 24
$-954.2M
Free Cash Flow
RWT
RWT
USAS
USAS
Q4 25
Q3 25
$-41.3M
Q2 25
Q1 25
Q4 24
Q3 24
$-11.2M
Q2 24
Q1 24
FCF Margin
RWT
RWT
USAS
USAS
Q4 25
Q3 25
-216.5%
Q2 25
Q1 25
Q4 24
Q3 24
-42.2%
Q2 24
Q1 24
Capex Intensity
RWT
RWT
USAS
USAS
Q4 25
Q3 25
150.8%
Q2 25
Q1 25
Q4 24
Q3 24
51.2%
Q2 24
Q1 24
Cash Conversion
RWT
RWT
USAS
USAS
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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