TWO
Two Harbors Investment Corp.
$12.50
+0.00
(+0.00%)
Mkt Cap
1.31B
Volume
1,343,328
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
$14.29
Fair Value · Mild
12.5% below fair value
AlphaQuality · Grade · Gated
F
Real Estate Investment Trust
15.1 / 100 pillar composite (overridden)
Company Description
Two Harbors Investment Corp. operates as a real estate investment trust (REIT) that focuses on investing in, financing, and managing residential mortgage-backed securities (RMBS), non-agency securities, mortgage servicing rights, and other financial assets in the United States. Its target assets include agency RMBS collateralized by fixed rate mortgage loans, adjustable rate mortgage loans, and hybrid adjustable-rate mortgage (ARMs); and other assets, such as financial and mortgage-related assets, including non-agency securities and non-hedging transactions. The company qualifies as a REIT for federal income tax purposes. As a REIT, the company must distribute at least 90% of annual taxable income to its stockholders. Two Harbors Investment Corp. was incorporated in 2009 and is headquartered 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) | N/A | N/A |
| FCF / Share | -0.14 | 0.84 | 0.32 | -0.07 | -4.28 | 0.13 | 6.62 | -5.31 | 2.81 | -1.79 | N/A | N/A |
| Operating CF | 88.92M | 201.00M | 343.51M | 623.40M | 423.51M | 631.60M | 1.06B | 702.87M | 606.78M | 239.68M | N/A | N/A |
| Total Assets | 10.86B | 12.20B | 13.14B | 13.47B | 12.11B | 19.52B | 35.92B | 30.13B | 24.79B | 20.11B | N/A | N/A |
| Total Debt | 8.56B | 9.09B | 9.91B | 10.40B | 8.90B | 965.62M | 1.19B | 1.46B | 1.52B | 7.11B | N/A | N/A |
| Cash & Equiv | 842.32M | 504.61M | 729.73M | 683.48M | 1.15B | 1.38B | 558.14M | 409.76M | 419.16M | 406.88M | N/A | N/A |
| Book Value | 1.79B | 2.12B | 2.20B | 2.18B | 2.74B | 3.09B | 4.97B | 4.25B | 3.57B | 3.40B | N/A | N/A |
| Return on Equity | -0.25 | 0.14 | -0.05 | 0.10 | 0.07 | -0.53 | 0.07 | -0.01 | 0.10 | 0.10 | N/A | N/A |
| 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 | 1.39B | 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
UWMC Urges TWO Stockholders to Stand Firm and Vote AGAINST the CCM Transaction at May 28 Special Meeting
UWMC Urges TWO Stockholders to Stand Firm and Vote AGAINST the CCM Transaction at May 28 Special Meeting
TWO Announces Adjournment of Special Meeting
UWMC Reminds Two Harbors Stockholders to Vote the Blue Proxy Card Against the Inferior CrossCountry Transaction Today
UWMC Reminds Two Harbors Stockholders to Vote the Blue Proxy Card Against the Inferior CrossCountry Transaction Today
Private Equity Is Buying REITs Hand Over Fist
Earnings High Fliers And Busts
UWMC Provides Clarity on Latest Disingenuous Announcement by Two Harbors
UWMC Calls Out Egregious Corporate Governance of TWO Board and Repeated Failure to Act in Best Interest of Stockholders
TWO Board Unanimously Rejects UWMC's Latest Illusory, Predatory and Unactionable Proposal