Redfin Corp - Understand $rdfn stock

$RDFN Market Cap: $1.73 Billion

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Financial Snapshot

Revenue

$1.008B

TTM

Gross Margin

34.66%

TTM

Net Earnings

-$136.7M

TTM

Current Assets

$524.4M

Q2 2024

Current Liabilities

$353.4M

Q2 2024

Current Ratio

148.4%

Q2 2024

Total Assets

$1.181B

Q2 2024

Total Liabilities

$1.194B

Q2 2024

Book Value

-$12.77M

Q2 2024

Cash

$201.8M

Q2 2024

P/E

-12.65

Sep 17, 2024 EST

Free Cash Flow

$1.306M

TTM

Revenues

Revenue YoY Change

Revenues

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Revenue	$976.7M	$2.284B	$1.923B	$886.1M	$779.8M	$486.9M	$370.0M	$267.2M	$187.3M	$125.4M
YoY Change	-57.25%	18.81%	116.99%	13.63%	60.15%	31.59%	38.49%	42.63%	49.39%

Expenses

Cost Of Revenues

Gross Profit

Gross Profit Margin

Gross Profit

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Revenue	$976.7M	$2.284B	$1.923B	$886.1M	$779.8M	$486.9M	$370.0M	$267.2M	$187.3M	$125.4M
Cost Of Revenue	$646.9M	$1.998B	$1.519B	$654.0M	$635.7M	$367.5M	$258.2M	$184.5M	$138.5M	$93.30M
Gross Profit	$329.8M	$286.1M	$403.8M	$232.1M	$144.1M	$119.4M	$111.8M	$82.74M	$48.85M	$32.10M
Gross Profit Margin	33.77%	12.52%	21.0%	26.19%	18.48%	24.53%	30.22%	30.97%	26.07%	25.6%

Selling, General & Admin Expense

Research & Development

Depreciation, Depletion & Amortization

SGA Expense to Gross Profit Ratio

R&D To Gross Profit Ratio

DDA To Gross Profit Ratio

Operating Expenses Total

Operating Profits/Loss

Operational Expenses

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Selling, General & Admin	$356.7M	$412.7M	$357.1M	$147.0M	$153.6M	$109.6M	$85.26M	$70.94M	$51.29M	$55.10M
YoY Change	-13.57%	15.57%	142.86%	-4.27%	40.18%	28.5%	20.19%	38.3%	-6.91%
% of Gross Profit	108.14%	144.26%	88.42%	63.34%	106.58%	91.74%	76.25%	85.73%	105.01%	171.65%
Research & Development	$183.3M	$196.3M	$156.7M	$84.30M	$69.77M	$53.80M	$42.53M	$34.59M	$27.84M
YoY Change	-6.6%	25.22%	85.91%	20.83%	29.68%	26.49%	22.97%	24.23%
% of Gross Profit	55.57%	68.61%	38.81%	36.32%	48.41%	45.05%	38.04%	41.8%	57.0%
Depreciation & Amortization	$62.85M	$64.91M	$46.91M	$14.56M	$9.230M	$8.465M	$7.176M	$6.293M	$4.395M	$2.670M
YoY Change	-3.17%	38.38%	222.07%	57.79%	9.04%	17.96%	14.03%	43.19%	64.61%
% of Gross Profit	19.06%	22.69%	11.62%	6.27%	6.41%	7.09%	6.42%	7.61%	9.0%	8.32%
Operating Expenses	$547.9M	$649.4M	$513.8M	$231.3M	$223.3M	$163.4M	$127.8M	$105.5M	$79.14M	$57.10M
YoY Change	-15.63%	26.39%	122.11%	3.57%	36.72%	27.83%	21.1%	33.35%	38.59%
Operating Profit	-$218.1M	-$363.3M	-$110.0M	$792.0K	-$79.25M	-$43.93M	-$15.97M	-$22.78M	-$30.29M	-$25.00M
YoY Change	-39.98%	230.44%	-13982.95%	-101.0%	80.38%	175.07%	-29.9%	-24.78%	21.16%

Interest Expenses

Interest Expenses To Operating Income %

Other Expense/Income

Interest & Other Expense/Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Interest Expense	$9.524M	$17.75M	$11.76M	$19.50M	$8.928M	$3.681M	$0.00	$0.00	$0.00	$0.00
YoY Change	-46.33%	50.87%	-39.67%	118.36%	142.54%
% of Operating Profit				2461.49%
Other Income/Expense, Net	-$2.385M	-$3.774M	$5.360M	-$1.898M	$223.0K	$221.0K	$970.0K	$258.0K	$53.00K	$0.00
YoY Change	-36.8%	-170.41%	-382.4%	-951.12%	0.9%	-77.22%	275.97%	386.79%

Income/Loss

Pretax Income

Income Tax

Net Profits/Loss

Pretax Income YoY Change

Income Tax Rate

Net Profits/Loss YoY Change

Basic EPS

Net Income To Revenue Ratio

Pretax & Net Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Pretax Income	-$125.4M	-$321.0M	-$115.7M	-$18.50M	-$80.80M	-$42.00M	-$15.00M	-$22.50M	-$30.20M	-$25.00M
YoY Change	-60.93%	177.41%	525.51%	-77.1%	92.38%	180.0%	-33.33%	-25.5%	20.8%
Income Tax	$979.0K	$126.0K	-$6.107M	$0.00	$0.00		$12.70M	$0.00	$0.00	-$300.0K
% Of Pretax Income
Net Earnings	-$130.0M	-$321.1M	-$109.6M	-$18.53M	-$80.81M	-$41.98M	-$15.00M	-$22.53M	-$30.24M	-$24.70M
YoY Change	-59.51%	192.98%	491.64%	-77.07%	92.49%	179.82%	-33.4%	-25.5%	22.41%
Net Earnings / Revenue	-13.31%	-14.06%	-5.7%	-2.09%	-10.36%	-8.62%	-4.05%	-8.43%	-16.14%	-19.7%
Basic Earnings Per Share	-$1.16	-$2.99	-$1.12	-$0.23	-$0.88
Diluted Earnings Per Share	-$1.16	-$2.99	-$1.12	-$0.23	-$0.88	-$490.1K	-$351.3K	-$283.0K	-$379.9K	-$310.7K

Assets & Liabilities

Cash & Short-Term Investments

Cash & Equivalents

Cash To Operating Expenses Ratio

Inventory

Receivables

Total Short-Term Assets

Property, Plant And Equipment

Long-Term Investments

Total Long-Term Assets

Total Assets

Net Income To Total Assets Percentage

Accounts Payable

Short-Term Debt

Long Term Debt Due

Total Short-Term Liabilities

Long-Term Debt

Other Long-Term Liabilities

Total Long-Term Liabilities

Total Liabilities

Short-Term To Long-Term Debt Ratio

Short-Term Assets To Debt Ratio

Long-Term Debt To Net Income Ratio

Assets & Liabilities

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015
Cash & Short-Term Investments	$191.7M	$362.1M	$624.7M	$1.057B	$304.7M	$432.6M	$208.3M	$65.80M	$87.30M
YoY Change	-47.06%	-42.04%	-40.88%	246.83%	-29.57%	107.68%	216.57%	-24.63%
Cash & Equivalents	$149.8M	$239.8M	$591.0M	$925.3M	$234.7M	$432.6M	$208.3M	$64.00M	$85.60M
Short-Term Investments	$41.95M	$122.3M	$33.74M	$131.6M	$70.00M		$0.00	$1.700M	$1.700M
Other Short-Term Assets	$201.6M	$245.2M	$193.5M	$37.50M	$31.10M	$20.70M	$16.60M	$17.00M	$10.00M
YoY Change	-17.79%	26.72%	416.02%	20.58%	50.24%	24.7%	-2.35%	70.0%
Inventory		$114.3M	$358.2M	$49.20M	$74.60M	$22.70M
Prepaid Expenses
Receivables	$51.74M	$54.88M	$69.59M	$54.70M	$19.20M	$15.40M	$13.30M	$10.60M	$5.600M
Other Receivables	$0.00	$0.00	$0.00	$42.60M	$22.00M	$4.900M	$1.900M	$0.00	$0.00
Total Short-Term Assets	$445.0M	$776.5M	$1.246B	$1.241B	$451.6M	$496.2M	$240.2M	$93.40M	$103.0M
YoY Change	-42.68%	-37.69%	0.42%	174.76%	-8.99%	106.58%	157.17%	-9.32%
Property, Plant & Equipment	$78.19M	$97.14M	$112.9M	$88.10M	$91.60M	$25.20M	$22.30M	$19.20M	$7.400M
YoY Change	-19.5%	-13.94%	28.12%	-3.82%	263.49%	13.0%	16.15%	159.46%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments	$3.149M	$29.48M	$54.83M	$11.90M	$31.00M
YoY Change	-89.32%	-46.23%	360.74%	-61.61%
Other Assets	$10.46M	$11.25M	$12.90M	$8.600M	$10.60M	$9.400M	$7.000M	$7.900M	$1.200M
YoY Change	-7.03%	-12.8%	49.98%	-18.87%	12.77%	34.29%	-11.39%	558.33%
Total Long-Term Assets	$708.6M	$797.7M	$775.9M	$119.7M	$144.6M	$46.60M	$41.80M	$40.10M	$22.10M
YoY Change	-11.17%	2.81%	548.21%	-17.22%	210.3%	11.48%	4.24%	81.45%
Total Assets	$1.154B	$1.574B	$2.022B	$1.361B	$596.2M	$542.8M	$282.0M	$133.5M	$125.1M
YoY Change
Accounts Payable	$10.51M	$11.82M	$12.55M	$5.600M	$2.100M	$2.500M	$1.900M	$5.400M	$1.500M
YoY Change	-11.1%	-5.79%	124.04%	166.67%	-16.0%	31.58%	-64.81%	260.0%
Accrued Expenses	$100.5M	$123.2M	$126.5M	$77.70M	$49.40M	$30.80M	$26.60M	$22.30M	$14.90M
YoY Change	-18.45%	-2.56%	62.75%	57.29%	60.39%	15.79%	19.28%	49.66%
Deferred Revenue
YoY Change
Short-Term Debt	$152.0M	$190.5M	$232.8M	$63.00M	$25.70M	$4.700M	$2.000M	$0.00	$0.00
YoY Change	-20.23%	-18.17%	269.56%	145.14%	446.81%	135.0%
Long-Term Debt Due	$0.00	$23.43M	$23.28M	$22.50M
YoY Change	-100.0%	0.65%	3.47%
Total Short-Term Liabilities	$268.4M	$354.6M	$401.8M	$185.7M	$85.20M	$46.20M	$35.90M	$32.90M	$19.80M
YoY Change	-24.31%	-11.74%	116.38%	117.96%	84.42%	28.69%	9.12%	66.16%
Long-Term Debt	$813.2M	$1.078B	$1.214B	$488.3M	$119.7M	$113.6M	$0.00	$0.00	$0.00
YoY Change	-24.58%	-11.19%	148.62%	307.94%	5.37%
Other Long-Term Liabilities	$29.08M	$37.30M	$55.22M	$49.30M	$59.90M	$11.10M	$10.70M	$8.900M	$1.100M
YoY Change	-22.02%	-32.46%	12.01%	-17.7%	439.64%	3.74%	20.22%	709.09%
Total Long-Term Liabilities	$842.2M	$1.115B	$1.269B	$537.6M	$179.6M	$124.7M	$10.70M	$8.900M	$1.100M
YoY Change	-24.49%	-12.12%	136.09%	199.33%	44.03%	1065.42%	20.22%	709.09%
Total Liabilities	$1.111B	$1.470B	$1.672B	$730.1M	$264.8M	$170.9M	$46.50M	$41.80M	$20.90M
YoY Change	-24.44%	-12.07%	129.04%	175.72%	54.94%	267.53%	11.24%	100.0%

Ownership

Basic Shares Outstanding

Diluted Shares Outstanding

Preferred Stock

Treasury Stock Shares

Stock Issuance & Repurchase

Ownership Data

Concept	2023	2022	2021	2020	2019
Basic Shares Outstanding	113.2M shares	107.9M shares	104.7M shares	98.57M shares	91.58M shares
Diluted Shares Outstanding	113.2M shares	107.9M shares	104.7M shares	98.57M shares	91.58M shares
Preferred Stock
Treasury Stock Shares

Return On Shareholders' Equity

Book Value

Free Cash Flow

Free Cash Flow YoY

Dividends

Stock Price

Market Cap: $1.7304 Billion

About Redfin Corp

Redfin Corp. engages in the management of an online real estate marketplace and provision of real estate services. The company is headquartered in Seattle, Washington and currently employs 4,693 full-time employees. The company went IPO on 2017-07-28. The firm operates an online real estate marketplace and provides real estate services, including assisting individuals in the purchase or sale of their home. The firm's segments include real estate services, rentals and mortgage. The firm uses digital platforms to connect consumers with rental properties. The company helps people find a place to live with brokerage, rentals, lending, title insurance and renovations services. The firm's home-buying customers see homes first with on-demand tours, and its lending and title services help them close the transaction. The company uses the same combination of technology and local service to originate, service, and subsequently sell mortgage loans and offer title and settlement services. The firm offers digital platforms to connect consumers with available apartments and houses for rent and for other advertising. The company serves more than 100 markets across the United States and Canada.

Industry: Real Estate Agents & Managers (For Others) Peers: Doma Holdings Inc CBRE Group Inc Compass Inc Anywhere Real Estate Inc Douglas Elliman Inc Fathom Holdings Inc Marcus & Millichap Inc Newmark Group Inc Offerpad Solutions Inc Re/Max Holdings Inc