Two Harbors Investment Corp. (TWO)
NYSE: TWO · Real-Time Price · USD
12.09
-0.02 (-0.17%)
At close: Jul 31, 2026, 4:00 PM EDT
12.10
+0.01 (0.08%)
After-hours: Jul 31, 2026, 7:41 PM EDT
Two Harbors Investment Cash Flow Statement
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Operating Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Net Income | -21.68 | -454.3 | 298.17 | -106.37 | 220.24 | 187.23 |
Provision for Credit Losses | -0.12 | -0.12 | 0.26 | -0.55 | 2.73 | 9.76 |
Stock-Based Compensation | 10.75 | 13.35 | 10.95 | 10.98 | 11.63 | 11.49 |
Net Change in Loans Held-for-Sale | -5.39 | -13.53 | -2.9 | -0.05 | -0.24 | -0.04 |
Other Adjustments | 143.74 | 521.16 | -27.35 | 382.02 | 237.77 | 181.86 |
Changes in Accrued Interest and Accounts Receivable | 13.63 | 4.1 | 2.01 | 0.68 | -9.75 | 20.91 |
Changes in Accounts Payable | -36.2 | -4.08 | -55.78 | 47.74 | 75.65 | -3.28 |
Changes in Other Operating Activities | 35.46 | 22.34 | -24.35 | 9.06 | 85.37 | 15.59 |
Operating Cash Flow | 127.22 | 88.92 | 201 | 343.51 | 623.4 | 423.51 |
Operating Cash Flow Growth | -54.08% | -55.76% | -41.48% | -44.90% | 47.20% | -32.95% |
Investing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Net Change in Short-Term Interbank Lending and Reverse Repurchase Agreements | 91.65 | 198.86 | -71.88 | 782.84 | -932.25 | -43.16 |
Net Change in Securities and Investments | 3,233 | 1,063 | 755.53 | -541.51 | -1,766 | 6,927 |
Cash Acquisitions | - | - | -20.98 | 26.8 | - | - |
Purchases of Intangible Assets | -13.81 | -103.99 | -114.12 | -312.64 | -629.81 | -742.15 |
Proceeds from Sale of Intangible Assets | - | 439.08 | 109.78 | 133.94 | 261.83 | 31.79 |
Other Investing Activities | -73.48 | -685.57 | 236.95 | -285.22 | 314.77 | 140.22 |
Investing Cash Flow | 3,701 | 911.61 | 895.28 | -195.78 | -2,751 | 6,314 |
Financing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Net Change in Short-Term Interbank Borrowing and Repurchase Agreements | -3,143 | -549.52 | -215.15 | -582.8 | 946.57 | -7,487 |
Short-Term Debt Issued | 360.35 | 547.83 | 179.21 | 404 | 720 | 296.5 |
Short-Term Debt Repaid | -514.39 | -641.25 | -486.17 | -193.66 | -21.93 | -159.57 |
Net Short-Term Debt Issued (Repaid) | -154.04 | -93.43 | -306.97 | 210.34 | 698.07 | 136.93 |
Long-Term Debt Issued | -0.19 | 110.59 | - | - | - | 279.93 |
Long-Term Debt Repaid | -261.88 | - | -305.45 | -114.14 | -143.77 | -143.12 |
Net Long-Term Debt Issued (Repaid) | -262.07 | 110.59 | -305.45 | -114.14 | -143.77 | 136.81 |
Issuance of Common Stock | 0.21 | 0.28 | 0.24 | 275.67 | 6.61 | 450.6 |
Repurchase of Common Stock | - | - | - | -7.06 | - | - |
Net Common Stock Issued (Repurchased) | 0.21 | 0.28 | 0.24 | 268.62 | 6.61 | 450.6 |
Repurchase of Preferred Stock | - | - | -11.1 | -14.81 | -51.4 | -274.95 |
Net Preferred Stock Issued (Repurchased) | - | - | -11.1 | -14.81 | -51.4 | -274.95 |
Common Dividends Paid | -148.65 | -170.86 | -187.68 | -197.64 | -235.37 | -193.49 |
Preferred Share Dividends Paid | -52.41 | -51.53 | -47.36 | -48.96 | -54.99 | -63.66 |
Other Financing Activities | - | -1.75 | - | - | - | - |
Financing Cash Flow | -3,762 | -756.22 | -1,073 | -479.4 | 1,166 | -7,295 |
Net Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Net Cash Flow | 66.77 | 244.31 | 22.81 | -331.67 | -962.17 | -557.76 |
Free Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Free Cash Flow | 127.22 | 88.92 | 201 | 343.51 | 623.4 | 423.51 |
Free Cash Flow Growth | -54.08% | -55.76% | -41.48% | -44.90% | 47.20% | -32.95% |
FCF Margin | 12.40% | 10.77% | 16.58% | 49.64% | 40.99% | 66.45% |
Free Cash Flow Per Share | 1.21 | 0.85 | 1.78 | 3.59 | 6.49 | 5.68 |