COMP <GO>

RWT vs FPI // ENTERPRISE SCALE & MARKET CAP

Redwood Trust Inc. (NYSE) VS. Farmland Partners Inc. (NYSE) • 15-METRIC TALLY: RWT 2 — FPI 2

▲ ENTERPRISE SCALE & MARKET CAP LEADER: RWT

LAST: $3.13 (-3.10%) • MKT CAP: $405.7M

market-cap

$405.7M

LAST: $8.43 (-4.20%) • MKT CAP: $384.0M

market-cap

$384.0M

15-METRIC INSTITUTIONAL SIDE-BY-SIDE SCORECARD (RWT VS. FPI) EMERALD CELL = QUANTITATIVE EDGE

INSTITUTIONAL METRIC	RWT	FPI	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	—	—	—	TIE	/gross-margins <GO>
Return on Invested Capital (ROIC)	-7.10%	5.90%	-13.00	FPI	/roic <GO>
EV/EBITDA & P/E Valuation	—	—	—	TIE	/valuation <GO>
Free Cash Flow Yield	—	4.54%	—	TIE	/fcf-yield <GO>
Operating Margin	—	—	—	TIE	/operating-margins <GO>
Net Profit Margin	—	60.50%	—	TIE	/net-margins <GO>
Revenue Growth (YoY)	—	-10.40%	—	TIE	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	0.00%	0.00%	0.00	TIE	/dividend-safety <GO>
Altman Z-Score & Debt/Equity	—	—	—	TIE	/balance-sheet <GO>
Piotroski F-Score Quality	1/9	3/9	-2.00	FPI	/piotroski-score <GO>
Options Implied Move & Put/Call Skew	—	—	—	TIE	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	44.5	30.6	+13.90	RWT	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta	—	—	—	TIE	/macro-sensitivity <GO>
Forward P/E Multiple	—	11.3x	—	TIE	/forward-pe <GO>
Enterprise Scale & Market Cap ACTIVE	$405.7M	$384.0M	$21.8M	RWT	/market-cap <GO>

5-YEAR HISTORICAL XBRL REVENUE & MARGIN TRAJECTORY SEC FORM 10-K FY

FISCAL YEAR	RWT REV	FPI REV	RWT GROSS %	FPI GROSS %	RWT FCF	FPI FCF
FY 2025	$0	$52.2M	—	—	-$10.09B	$17.4M
FY 2024	$0	$58.2M	—	—	-$5.86B	$16.1M
FY 2023	$0	$57.5M	—	—	-$2.02B	$12.9M

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

RWT // BETA —

FPI // BETA —