Two Harbors Investment Corp.

Two Harbors Investment Corp.

TWO-PC
Two Harbors Investment Corp.US flagNew York Stock Exchange
25.50
USD
+0.01
- -
1.27BMarket Cap
Two Harbors Investment Corp.
TWO-PC
(New York Stock Exchange)

Recent

price

25.50

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Revenue per Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Basic EPS, GAAP
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Dividend per Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Book Value per Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Tangible Book Value per Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Basic Weighted Avg Shares
43
150
296
743
203
590
435
392
186
428
-1,562
255
407
32
511
115
232
Sales/Revenue/Turnover
65.98
99.66
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Operating Margin (%)
- -
- -
2
2
2
1
1
1
- -
- -
- -
- -
- -
- -
- -
- -
- -
Depreciation Expense
36
127
292
579
167
492
353
349
-44
324
-1,630
187
220
-106
298
-454
-343
Net Income, GAAP
- -
- -
- -
12.8
- -
- -
3.73
- -
- -
- -
- -
2.19
32.12
- -
13.51
- -
43.43
Effective Tax Rate (%)
83.86
84.77
98.6
77.98
82.3
83.37
81.17
88.83
-23.85
75.77
104.36
73.36
54.09
-334.66
58.38
-394.84
-147.58
Profit Margin (%)
333
978
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Working Capital
- -
- -
- -
640
3,710
5,785
7,037
1,498
1,149
889
682
822
681
564
260
373
111
LT Debt
382
1,270
3,451
3,855
4,068
3,577
3,401
3,571
4,254
4,970
3,089
2,744
2,184
2,203
2,123
1,788
1,732
Total Equity
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Invested Capital (%)
- -
- -
- -
1,917.57
- -
- -
5.92
- -
- -
- -
- -
-10.46
-13.71
- -
-15.43
- -
30.24
Return on Capital (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Common Equity (%)

Capital Structure

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
954
929
930
LT Borrowings
372
373
111
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
601
601
601
Shares Outstanding
104
105
105
Market Capitalization
- -
- -
- -

Working Capital

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
- -
- -
- -
Cash, Cash Equivalents & STI
771
842
476
Accounts Receivable, Net
28
29
30
Inventories
- -
- -
- -
Total Current Liabilities
- -
- -
- -
Payables & Accruals
485
347
341
ST Debt
954
929
930
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
-5.19%
-10.02%
-15.76%
Free Cash Flow
-521.67%
-836.06%
-117.34%
Net Income, GAAP
-245.18%
-174.97%
-252.36%
Sales/Revenue/Turnover
85.65%
256.08%
-77.47%
Total Cash Common Dividend
-1.87%
-2.49%
-9.74%

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
263
109
-210
348
511
2025
-32
-15
93
69
115
2026
86
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
Business
Two Harbors Investment Corp. Two Harbors Investment Corp. (NYSE: TWO) operates as a real estate investment trust focused on investing in, financing, and managing residential mortgage-backed securities, mortgage servicing rights, and other financial assets. The company maintains a portfolio comprising agency residential mortgage-backed securities guaranteed by Ginnie Mae, Fannie Mae, or Freddie Mac, including specified pools and to-be-announced forward contracts; mortgage servicing rights on conventional loans acquired through bulk packages and flow commitments from originators and brokers; and other financial assets representing 5% to 10% of the portfolio, such as non-agency securities. Through its operational platform, RoundPoint Mortgage Servicing LLC, one of the largest servicers of conventional loans in the United States, Two Harbors performs servicing activities via third-party subservicers while leveraging expertise in interest rate and prepayment risk management. Headquartered in St. Louis Park, Minnesota, with additional offices in New York City, the company was founded in 2009 and primarily serves the U.S. residential mortgage market. Recent developments include the settlement of $6.6 billion in unpaid principal balance of mortgage servicing rights through two bulk purchases, flow-sale acquisitions, and recapture as of June 30, 2025; the development of a new servicing platform aimed at scaling operations in 2025; and the ongoing integration of RoundPoint Mortgage Servicing, initially announced for acquisition in 2022 to enhance cost efficiencies and control over its mortgage servicing rights portfolio.