TWO
Two Harbors Investment Corp.
$12.10
+0.00
(+0.00%)
Mkt Cap
1.27B
Volume
4,392,790
52W Range
8.78-14.17
Sector
Real Estate
Beta
1.04
EPS (TTM)
-3.82
P/E Ratio
-2.41
Revenue (TTM)
765.12M
Rev Growth (5Y)
+2.2%
EPS Growth (5Y)
N/A
AlphaVal · Fair Value
What we estimate one share is worth
$14.17
Fair Value
weak signal
14.6% below fair value
Modeled from cash flows & growth.
AlphaQuality · Grade · Gated
How strong & durable the business is
F
Real Estate Investment Trust
15.1 / 100 pillar composite (overridden)
A real-estate investment trust — graded A–F vs. similar companies.
Company Description
Two Harbors Investment Corp. (TWO) operates as a Real Estate Investment Trust (REIT) with a strategic focus on the U.S. mortgage market. The firm is actively involved in acquiring, funding, and overseeing a diverse portfolio of financial instruments, primarily residential mortgage-backed securities (RMBS). This portfolio encompasses both agency RMBS – which are often backed by fixed-rate, adjustable-rate, and hybrid adjustable-rate mortgage loans – as well as non-agency securities, mortgage servicing rights (MSRs), and other related financial assets. Being structured as a REIT grants the company specific federal income tax advantages, contingent on distributing a minimum of 90% of its annual taxable earnings to its shareholders. Established in 2009, Two Harbors Investment Corp. maintains its corporate headquarters in Minnetonka, Minnesota.
Track Record
Showing latest 4 periods • Swipe for more
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 605.61M | 845.84M | 640.49M | 12.61M | (142.91M) | (862.56M) | 1.90B | 708.13M | 838.62M | 498.75M | 732.02M | 591.62M |
| Net Income | (454.30M) | 298.17M | (106.37M) | 220.24M | 187.23M | (1.63B) | 323.96M | (44.29M) | 348.57M | 353.28M | 492.21M | 167.14M |
| EPS | -4.36 | 2.41 | -1.60 | 2.15 | 1.72 | -23.83 | 3.72 | -0.86 | 7.40 | 8.08 | 10.80 | 3.68 |
| Free Cash Flow | (15.07M) | 86.88M | 30.87M | (6.41M) | (318.64M) | 9.20M | 442.97M | (273.52M) | 122.52M | (78.03M) | (2.06B) | (829.85M) |
| FCF / Share | -0.14 | 0.84 | 0.32 | -0.07 | -4.28 | 0.13 | 6.62 | -5.31 | 2.81 | -1.79 | -45.13 | -18.14 |
| Operating CF | 88.92M | 201.00M | 343.51M | 623.40M | 423.51M | 631.60M | 1.06B | 702.87M | 606.78M | 239.68M | (1.94B) | (764.15M) |
| Total Assets | 10.86B | 12.20B | 13.14B | 13.47B | 12.11B | 19.52B | 35.92B | 30.13B | 24.79B | 20.11B | 14.58B | 21.02B |
| Total Debt | 8.56B | 9.09B | 9.91B | 10.40B | 8.90B | 965.62M | 1.19B | 1.46B | 1.52B | 7.11B | 5.79B | 3.71B |
| Cash & Equiv | 842.32M | 504.61M | 729.73M | 683.48M | 1.15B | 1.38B | 558.14M | 409.76M | 419.16M | 406.88M | 737.83M | 1.01B |
| Book Value | 1.79B | 2.12B | 2.20B | 2.18B | 2.74B | 3.09B | 4.97B | 4.25B | 3.57B | 3.40B | 3.58B | 4.07B |
| Return on Equity | -0.25 | 0.14 | -0.05 | 0.10 | 0.07 | -0.53 | 0.07 | -0.01 | 0.10 | 0.10 | 0.14 | 0.04 |
| Metric | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 218.79M | 179.37M | 247.57M | 119.38M | 211.99M | 219.45M | 126.48M | 208.81M | 292.02M | 24.56M | 342.45M | 278.50M |
| Net Income | 32.28M | 11.72M | (127.92M) | (259.04M) | (79.06M) | 276.73M | (238.49M) | 56.34M | 203.59M | (433.20M) | 306.19M | 197.44M |
| EPS | 0.18 | -0.02 | -1.36 | -2.62 | -0.89 | 2.54 | -2.42 | 0.43 | 1.86 | -4.56 | 3.04 | 1.94 |
| Free Cash Flow | 55.59M | 114.71M | (247.89M) | 7.71M | 110.40M | (48.56M) | 43.89M | 140.30M | (48.74M) | 98.70M | 118.01M | (68.51M) |
| FCF / Share | 0.51 | 1.10 | -2.38 | 0.07 | 1.06 | -0.47 | 0.42 | 1.35 | -0.47 | 1.01 | 1.12 | -0.65 |
| Operating CF | 56.58M | 117.13M | (239.24M) | 99.11M | 111.91M | (21.06M) | 87.08M | 143.65M | (8.67M) | 109.74M | 122.33M | 111.32M |
| Total Assets | 10.53B | 10.86B | 10.87B | 12.96B | 13.68B | 12.20B | 12.89B | 12.85B | 13.16B | 13.14B | 13.92B | 14.01B |
| Total Debt | 8.29B | 8.56B | 8.43B | 10.18B | 10.94B | 9.09B | 10.03B | 1.54B | 1.92B | 1.89B | 1.97B | 2.12B |
| Cash & Equiv | 476.31M | 842.32M | 770.53M | 657.82M | 573.88M | 504.61M | 522.58M | 624.20M | 666.24M | 729.73M | 644.18M | 699.08M |
| Book Value | 1.73B | 1.79B | 1.77B | 1.89B | 2.15B | 2.12B | 2.17B | 2.20B | 2.24B | 2.20B | 2.12B | 2.22B |
| Return on Equity | 0.02 | 0.01 | -0.07 | -0.14 | -0.04 | 0.13 | -0.11 | 0.03 | 0.09 | -0.20 | 0.14 | 0.09 |
TWO News
All You Need to Know About Two Harbors Investments (TWO) Rating Upgrade to Strong Buy
T2 Metals Completes Airborne Aeromagnetic and Radiometric Survey at Shanghai Project, Yukon, Canada
TWO Stockholders Approve CrossCountry Merger
T2 Metals Commences 2026 Summer Exploration Program at Shanghai and Aurora Projects, Yukon, Canada
T2 Metals Files NI 43-101 Mineral Resource Estimate Report for the Sherridon Copper-Zinc-Gold-Silver Project, Manitoba, Canada
TWO Announces Adjournment of Special Meeting
UWMC Reminds TWO Stockholders to Vote AGAINST the CCM Transaction to Preserve the Road to Maximum Value
UWMC Reminds TWO Stockholders to Vote AGAINST the CCM Transaction to Preserve the Road to Maximum Value
TWO Urges Stockholders to Vote FOR the CCM Transaction Today; Failure to Approve Risks a Significant Decline in TWO's Stock Price
TWO Announces Second Quarter 2026 Common and Preferred Stock Dividends