What is Two Harbors Investment Corp.'s earnings per share (EPS)?

Two Harbors Investment Corp. (TWO) reported diluted earnings per share of -$4.88 for fiscal year 2025. This represents a -305.9% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Two Harbors Investment Corp. (TWO) Financials

TWO

Trailing 12 months to March 31, 2026

Revenue $389.3M -12.3% YoY

Net Income -$343.0M -2309.1% YoY

EPS (Diluted) -$3.81 -929.7% YoY

Operating Cash Flow $33.6M -89.6% YoY

Source SEC Filings (10-K/10-Q) Latest period Q1 FY2026, ended Mar 31, 2026 Reported Apr 29, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q1 FY2026, filed Apr 29, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the TWO SEC filings page.

Two Harbors Investment Corp. (TWO) reported $389.3M in revenue over the twelve months to Mar 31, 2026, down 12.3% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI TWO FY2025 2026-10-03

Reported results behave like an investment portfolio: FY2025 losses coincided with shrinking assets and equity, not ordinary operating weakness.

Net results swung from a FY2024 income of $298M to a FY2025 loss of $454M, showing that reported earnings are episodic rather than a steady operating stream. Over those same years, total assets fell from $12.2B to $10.9B, linking the earnings reversal with a smaller portfolio balance.

FY2025 liabilities were $9.1B against equity of $1.8B, so the reported capital base is predominantly financed by obligations. Equity fell from $2.1B in FY2024 to $1.8B in FY2025, meaning the latest loss weakened the capital cushion.

Operating cash flow fell from $201M in FY2024 to $89M in FY2025, indicating that the latest earnings reversal was accompanied by weaker cash generation. The company still reported dividends of $171M despite the FY2025 loss, showing that distributions are not mechanically tied to annual earnings.

Financial Health Signals

Financial health score not available

Two Harbors Investment Corp. does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Piotroski F-Score Partial

3/6

Two Harbors Investment Corp. passes 3 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality Mixed

N/A

Two Harbors Investment Corp. reported a net loss of $454.3M while generating $88.9M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.

Key Financial Metrics

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Earnings & Revenue

Revenue

$88.7M

YoY-20.4%

QoQ-1.4%

5Y CAGR+9.6%

10Y CAGR-3.0%

Two Harbors Investment Corp. generated $88.7M in revenue in Q1 2026. This represents a decrease of 20.4% from the same quarter a year earlier. Against the prior quarter it is down 1.4%.

Net Income

$32.3M

YoY+140.8%

QoQ+175.5%

5Y CAGR-33.1%

Two Harbors Investment Corp. reported $32.3M in net income in Q1 2026. This represents an increase of 140.8% from the same quarter a year earlier. Against the prior quarter it is up 175.5%.

EPS (Diluted)

$0.18

QoQ+1900.0%

5Y CAGR-24.6%

Two Harbors Investment Corp. earned $0.18 per diluted share (EPS) in Q1 2026. Against the prior quarter it is up 1900.0%.

EBITDA

Not reported for Q1 2026.

Cash & Balance Sheet

Cash & Debt

$476.3M

YoY-17.0%

QoQ-43.5%

5Y CAGR-16.3%

10Y CAGR-4.5%

Two Harbors Investment Corp. held $476.3M in cash against $8.3B in long-term debt as of Q1 2026.

Dividends Per Share

$0.34

QoQ0.0%

Two Harbors Investment Corp. paid $0.34 per share in dividends in Q1 2026. It is unchanged from the prior quarter.

Shares Outstanding

105M

QoQ0.0%

5Y CAGR-17.4%

10Y CAGR-11.3%

Two Harbors Investment Corp. had 105M shares outstanding in Q1 2026. It is unchanged from the prior quarter.

Free Cash Flow

Not reported for Q1 2026.

Margins & Returns

Net Margin

36.4%

YoY+107.4pp

QoQ+23.4pp

10Y change+110.7pp

Two Harbors Investment Corp.'s net profit margin was 36.4% in Q1 2026, showing the share of revenue converted to profit. This is up 107.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 23.4 percentage points.

Return on Equity

1.9%

YoY+5.5pp

QoQ+1.2pp

5Y change-7.0pp

10Y change+4.5pp

Two Harbors Investment Corp.'s ROE was 1.9% in Q1 2026, measuring profit generated per dollar of shareholder equity. This is up 5.5 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.2 percentage points.

Gross Margin

Not reported for Q1 2026.

Operating Margin

Not reported for Q1 2026.

Capital Allocation

None of these metrics is reported for Q1 2026.

TWO Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

TWO quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$389.3M	$412.0M-8.5%	$450.2M-6.3%	$480.4M+62.5%	$295.5M+75.3%	$168.6M-67.9%	$525.0M-47.2%	$994.7M+14.3%	$870.0M+16.8%	$745.1M+29.6%	$575.1M-3.0%	$592.9M+2.7%	$577.2M+3.9%	$555.6M+22.1%	$455.0M+125.7%	$201.6M
SG&A Expenses	$95.4M	$95.3M+6.2%	$89.8M+69.8%	$52.9M+29.8%	$40.7M+16.2%	$35.0M-7.1%	$37.7M+13.5%	$33.2M-6.4%	$35.5M	N/A	N/A	N/A	N/A	$30.4M+105.7%	$14.8M+102.5%	$7.3M
Interest Expense	$454.4M	$490.9M-19.2%	$607.8M-5.5%	$643.2M+148.9%	$258.4M+189.8%	$89.2M-68.3%	$281.2M-60.6%	$714.3M+37.5%	$519.7M+48.4%	$350.2M+64.2%	$213.3M+50.4%	$141.8M+32.0%	$107.5M+7.0%	$100.4M+39.2%	$72.1M+217.5%	$22.7M
Income Tax	$12.5M	$8.9M-81.0%	$46.6M+102.7%	$23.0M-78.0%	$104.2M+2386.0%	$4.2M+111.7%	-$35.7M-163.2%	-$13.6M-132.4%	$41.8M+499.0%	-$10.5M-185.1%	$12.3M+174.4%	-$16.6M+77.5%	-$73.7M-187.4%	$84.4M+299.9%	-$42.2M-3717.3%	-$1.1M
Net Income	-$343.0M	-$454.3M-252.4%	$298.2M+380.3%	-$106.4M-148.3%	$220.2M+17.6%	$187.2M+111.5%	-$1.6B-603.2%	$324.0M+831.5%	-$44.3M-112.7%	$348.6M-1.3%	$353.3M-28.2%	$492.2M+194.5%	$167.1M-71.1%	$579.0M+98.4%	$291.9M+129.1%	$127.4M
EPS (Basic)	N/A	-$4.88-302.5%	$2.41+250.6%	-$1.60-174.4%	$2.15+25.0%	$1.72+106.9%	-$24.94-2781.7%	$0.93+275.5%	-$0.53-128.6%	$1.85-8.9%	$2.03-24.8%	$2.70+487.0%	$0.46-72.1%	$1.65+36.4%	$1.21-6.2%	$1.29
EPS (Diluted)	-$3.81	-$4.88-305.9%	$2.37	-$1.60	$2.13	$1.72	-$24.94	$0.93	-$0.53	$1.81	$2.03-24.8%	$2.70	$0.46-72.1%	$1.65+37.5%	$1.20	$1.29
Diluted Shares (Avg)	N/A	104M-7.9%	113M	96M	96M	75M	68M	268M	206M	188M	174M-4.7%	183M	366M+4.3%	351M+44.8%	242M	99M

Metric	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q	Q2'2410-Q
Revenue	$88.7M-20.4%	$89.9M-13.4%	$93.6M-16.9%	$117.1M+1.0%	$111.4M-5.4%	$103.8M-15.2%	$112.6M-8.9%	$116.0M-1.5%
SG&A Expenses	$26.7M+0.4%	$26.0M+19.1%	$21.3M+5.6%	$21.5M+1.1%	$26.6M+0.2%	$21.8M+2.4%	$20.2M+134.2%	$21.2M+139.6%
Interest Expense	$95.2M-27.8%	$105.4M-24.0%	$117.1M-24.4%	$136.7M-11.4%	$131.7M-17.7%	$138.7M-17.5%	$154.9M-10.5%	$154.2M-3.4%
Income Tax	$4.1M+843.9%	$5.6M-81.9%	$1.2M+111.5%	$1.7M-88.3%	$431K-96.4%	$30.9M+205.5%	-$10.5M-128.8%	$14.2M-28.2%
Net Income	$32.3M+140.8%	$11.7M-95.8%	-$127.9M+46.4%	-$259.0M-559.8%	-$79.1M-138.8%	$276.7M+163.9%	-$238.5M-177.9%	$56.3M-71.5%
EPS (Basic)	$0.18+120.2%	-$0.01-100.4%	-$1.36+43.8%	-$2.62-709.3%	-$0.89-148.1%	$2.55+154.7%	-$2.42-179.6%	$0.43-77.8%
EPS (Diluted)	$0.18	-$0.01-100.4%	-$1.36+43.8%	-$2.62-709.3%	-$0.89-151.4%	$2.51+155.7%	-$2.42-186.1%	$0.43-76.1%
Diluted Shares (Avg)	105M	N/A	104M+0.5%	104M+0.2%	104M-8.0%	N/A	104M-1.9%	104M-2.0%

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, Operating Income, EBITDA.

TWO Balance Sheet

TWO quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$10.9B-11.0%	$12.2B-7.1%	$13.1B-2.4%	$13.5B+11.2%	$12.1B-37.9%	$19.5B-45.7%	$35.9B+19.2%	$30.1B+21.6%	$24.8B+23.3%	$20.1B+38.0%	$14.6B-30.9%	$21.1B+22.8%	$17.2B+2.1%	$16.8B+107.6%	$8.1B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$7.6B
Cash & Equivalents	$842.3M+66.9%	$504.6M-30.8%	$729.7M+6.8%	$683.5M-40.8%	$1.2B-16.7%	$1.4B+148.1%	$558.1M+36.2%	$409.8M-2.2%	$419.2M+19.5%	$350.9M-64.9%	$1.0B-0.5%	$1.0B-1.9%	$1.0B+24.9%	$821.1M+128.1%	$360.0M
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	N/A	N/A	$27.5M	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$9.1B-10.0%	$10.1B-7.8%	$10.9B-3.1%	$11.3B+20.4%	$9.4B-43.0%	$16.4B-46.9%	$31.0B+19.6%	$25.9B+22.0%	$21.2B+27.0%	$16.7B+51.9%	$11.0B-35.4%	$17.0B+27.8%	$13.3B-0.3%	$13.4B+95.6%	$6.8B
Long-Term Debt	$8.6B	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$1.8B-15.8%	$2.1B-3.7%	$2.2B+0.9%	$2.2B-20.4%	$2.7B-11.2%	$3.1B-37.9%	$5.0B+16.8%	$4.3B+19.1%	$3.6B+5.0%	$3.4B-4.9%	$3.6B-12.1%	$4.1B+5.5%	$3.9B+11.7%	$3.5B+171.7%	$1.3B

Metric	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q	Q2'2410-Q
Total Assets	$10.5B-23.0%	$10.9B-11.0%	$10.9B-15.7%	$13.0B+0.9%	$13.7B+4.0%	$12.2B-7.1%	$12.9B-7.4%	$12.8B-8.3%
Cash & Equivalents	$476.3M-17.0%	$842.3M+66.9%	$770.5M+47.4%	$657.8M+5.4%	$573.9M-13.9%	$504.6M-30.8%	$522.6M-18.9%	$624.2M-10.7%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Total Liabilities	$8.8B-23.7%	$9.1B-10.0%	$9.1B-15.1%	$11.1B+3.9%	$11.5B+5.6%	$10.1B-7.8%	$10.7B-9.2%	$10.7B-9.7%
Long-Term Debt	$8.3B	$8.6B	$8.4B	$10.2B	N/A	N/A	N/A	N/A
Total Equity	$1.7B-19.3%	$1.8B-15.8%	$1.8B-18.3%	$1.9B-14.1%	$2.1B-4.2%	$2.1B-3.7%	$2.2B+2.5%	$2.2B-0.9%

Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, Goodwill, Current Liabilities, Non-Current Liabilities, Retained Earnings.

TWO Cash Flow Statement

TWO quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	$33.6M	$88.9M-55.8%	$201.0M-41.5%	$343.5M-44.9%	$623.4M+47.2%	$423.5M-32.9%	$631.6M-40.2%	$1.1B+50.3%	$702.9M+15.8%	$606.8M+153.2%	$239.7M+112.4%	-$1.9B-190.2%	-$667.3M-46.3%	-$456.0M-381.2%	$162.2M+6.9%	$151.6M
Depreciation & Amortization	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$969K-24.5%	$1.3M-5.8%	$1.4M-15.7%	$1.6M-3.5%	$1.7M+689.6%	$212K+443.6%	$39K
Stock-Based Compensation	N/A	$13.4M+22.0%	$10.9M-0.3%	$11.0M-5.6%	$11.6M+1.3%	$11.5M+18.0%	$9.7M+6.2%	$9.2M-29.5%	$13.0M+14.7%	$11.3M-25.4%	$15.2M+68.8%	$9.0M-40.3%	$15.1M+2851.5%	$511K+4.7%	$488K+74.9%	$279K
Investing Cash Flow	$2.9B	$911.6M+1.8%	$895.3M+557.3%	-$195.8M+92.9%	-$2.8B-143.6%	$6.3B-57.6%	$14.9B+345.2%	-$6.1B-226.9%	$4.8B+150.5%	-$9.5B-67.3%	-$5.7B-171.7%	$7.9B+383.1%	-$2.8B-643.7%	$514.1M+107.4%	-$6.9B-9.1%	-$6.3B
Financing Cash Flow	-$2.9B	-$756.2M+29.6%	-$1.1B-123.9%	-$479.4M-141.1%	$1.2B+116.0%	-$7.3B+49.7%	-$14.5B-361.8%	$5.5B+201.7%	-$5.5B-159.8%	$9.1B+73.8%	$5.2B+183.0%	-$6.3B-283.5%	$3.4B+2253.3%	$146.3M-98.0%	$7.2B+13.0%	$6.4B
Dividends Paid	$159.8M	$170.9M-9.0%	$187.7M-5.0%	$197.6M-16.0%	$235.4M+21.6%	$193.5M-3.0%	$199.5M-56.9%	$463.1M+71.1%	$270.6M-36.0%	$422.9M+27.4%	$331.9M-13.0%	$381.6M+33.6%	$285.6M-51.7%	$591.5M+76.4%	$335.3M+179.9%	$119.8M
Share Buybacks	N/A	$0	$0-100.0%	$7.1M	$0	$0-100.0%	$1.1M+5500.0%	$19K	$0	$0-100.0%	$61.3M-46.8%	$115.2M	$0-100.0%	$23.9M	$0	$0

Metric	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q	Q2'2410-Q
Operating Cash Flow	$56.6M-49.4%	$117.1M+656.2%	-$239.2M-374.7%	$99.1M-31.0%	$111.9M+1390.8%	-$21.1M-119.2%	$87.1M-28.8%	$143.7M+29.0%
Stock-Based Compensation	$4.4M-32.2%	N/A	$1.5M-6.3%	$1.9M+18.8%	$6.5M+7.2%	N/A	$1.6M0.0%	$1.6M-5.9%
Investing Cash Flow	-$38.1M+98.1%	-$17.2M-101.4%	$2.1B+934.5%	$829.2M+202.7%	-$2.0B-483.2%	$1.2B+57.4%	-$254.9M-548.5%	$274.0M+586.8%
Financing Cash Flow	-$320.2M-117.8%	$75.1M+107.5%	-$1.8B-24684.7%	-$827.8M-124.2%	$1.8B+498.7%	-$997.0M+12.3%	-$7.3M+95.3%	-$369.2M-922.0%
Dividends Paid	$35.9M-23.6%	$35.7M-23.9%	$41.0M-12.8%	$47.2M+0.7%	$47.0M+0.2%	$46.9M+7.8%	$46.9M+7.8%	$46.9M-19.7%
Share Buybacks	N/A	N/A	N/A	N/A	N/A	$0	$0	N/A

Not reported in any period shown, so not listed: Depreciation & Amortization, Capital Expenditures, Free Cash Flow.

TWO Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

TWO quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Net Margin	-110.3%	66.2%+88.4pp	-22.1%-96.7pp	74.5%	111.1%	-310.5%	32.6%+37.7pp	-5.1%-51.9pp	46.8%-14.6pp	61.4%-21.6pp	83.0%+54.1pp	29.0%	104.2%	64.1%+0.9pp	63.2%
Return on Equity	-25.4%-39.5pp	14.1%+18.9pp	-4.8%-14.9pp	10.1%+3.3pp	6.8%+59.6pp	-52.8%-59.3pp	6.5%+7.6pp	-1.0%-10.8pp	9.8%-0.6pp	10.4%-3.4pp	13.8%+9.7pp	4.1%-10.9pp	15.0%+6.6pp	8.5%-1.6pp	10.0%
Return on Assets	-4.2%-6.6pp	2.4%+3.3pp	-0.8%-2.5pp	1.6%+0.1pp	1.6%+9.9pp	-8.3%-9.3pp	0.9%+1.0pp	-0.1%-1.6pp	1.4%-0.4pp	1.8%-1.6pp	3.4%+2.6pp	0.8%-2.6pp	3.4%+1.6pp	1.7%+0.2pp	1.6%
Debt-to-Equity	4.790.0x	4.75-0.2x	4.96-0.2x	5.17+1.8x	3.41-1.9x	5.32-0.9x	6.23+0.1x	6.08+0.1x	5.94+1.0x	4.91+1.8x	3.08-1.1x	4.18+0.7x	3.46-0.4x	3.87-1.5x	5.38
Asset Turnover	0.040.0x	0.040.0x	0.040.0x	0.020.0x	0.010.0x	0.030.0x	0.030.0x	0.030.0x	0.030.0x	0.030.0x	0.040.0x	0.030.0x	0.030.0x	0.030.0x	0.02

Metric	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q	Q2'2410-Q
Net Margin	36.4%+107.4pp	13.0%	-136.7%	-221.3%	-71.0%	266.7%	-211.7%	48.6%
Return on Equity	1.9%+5.5pp	0.7%-12.4pp	-7.2%+3.8pp	-13.7%-16.3pp	-3.7%-12.8pp	13.0%+32.7pp	-11.0%-25.4pp	2.6%-6.3pp
Return on Assets	0.3%+0.9pp	0.1%-2.2pp	-1.2%+0.7pp	-2.0%-2.4pp	-0.6%-2.1pp	2.3%+5.6pp	-1.8%-4.0pp	0.4%-1.0pp
Debt-to-Equity	4.79-0.6x	4.790.0x	4.76-0.2x	5.40+0.5x	5.37+0.5x	4.75-0.2x	4.94-0.6x	4.85-0.5x
Asset Turnover	0.010.0x	0.010.0x	0.010.0x	0.010.0x	0.010.0x	0.010.0x	0.010.0x	0.010.0x

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Current Ratio, FCF Margin.

Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Net Margin.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Two Harbors Investment Corp. TWO	FY2025	$412.0M	-$454.3M	N/A	$1.3B	—
MFA Financial, Inc. MFA	FY2025	$745.1M	$176.8M	23.7%	$773.3M	0/100
Orchid Island Capital, Inc. ORC	FY2025	$414.0M	$159.3M	38.5%	$1.0B	0/100
PennyMac Mortgage Investment Trust PMT	FY2025	$307.5M	$86.1M	28.0%	$680.2M	0/100
Franklin BSP Realty Trust, Inc. FBRT	FY2025	$270.1M	$84.1M	31.1%	$520.7M	28/100
Ellington Financial Inc. EFC	FY2025	$336.4M	$150.8M	44.8%	$1.5B	43/100

Where Two Harbors Investment Corp. Ranks

Frequently Asked Questions

What is Two Harbors Investment Corp.'s annual revenue?

Two Harbors Investment Corp. (TWO) reported $412.0M in total revenue for fiscal year 2025. This represents a -8.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Two Harbors Investment Corp.'s revenue growing?

Two Harbors Investment Corp. (TWO) revenue declined by 8.5% year-over-year, from $450.2M to $412.0M in fiscal year 2025.

Is Two Harbors Investment Corp. profitable?

No, Two Harbors Investment Corp. (TWO) reported a net income of -$454.3M in fiscal year 2025.

How much debt does Two Harbors Investment Corp. have?

As of fiscal year 2025, Two Harbors Investment Corp. (TWO) had $842.3M in cash and equivalents against $8.6B in long-term debt.

Does Two Harbors Investment Corp. pay dividends?

Yes, Two Harbors Investment Corp. (TWO) paid $1.52 per share in dividends during fiscal year 2025.

What is Two Harbors Investment Corp.'s return on equity (ROE)?

Two Harbors Investment Corp. (TWO) has a return on equity of -25.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Two Harbors Investment Corp.'s operating cash flow?

Two Harbors Investment Corp. (TWO) generated $88.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Two Harbors Investment Corp.'s total assets?

Two Harbors Investment Corp. (TWO) had $10.9B in total assets as of fiscal year 2025, including both current and long-term assets.

How many shares does Two Harbors Investment Corp. have outstanding?

Two Harbors Investment Corp. (TWO) had 105M shares outstanding as of fiscal year 2025.

What is Two Harbors Investment Corp.'s debt-to-equity ratio?

Two Harbors Investment Corp. (TWO) had a debt-to-equity ratio of 4.79 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Two Harbors Investment Corp.'s return on assets (ROA)?

Two Harbors Investment Corp. (TWO) had a return on assets of -4.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Two Harbors Investment Corp.'s Piotroski F-Score?

Two Harbors Investment Corp. (TWO) has a Piotroski F-Score of 3 out of 6 computable signals; 3 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Two Harbors Investment Corp.'s earnings high quality?

Two Harbors Investment Corp. (TWO) reported a net loss of $454.3M while generating $88.9M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.