Two Harbors Investment Corp. (TWO)

Two Harbors Investment Statistics

Total Valuation

TWO has a market cap or net worth of $1.13 billion. The enterprise value is $8.61 billion.

Market Cap	1.13B
Enterprise Value	8.61B

Important Dates

The last earnings date was Monday, February 2, 2026, after market close.

Earnings Date	Feb 2, 2026
Ex-Dividend Date	Jan 5, 2026

Share Statistics

TWO has 105.04 million shares outstanding. The number of shares has decreased by -8.12% in one year.

Current Share Class	105.04M
Shares Outstanding	105.04M
Shares Change (YoY)	-8.12%
Shares Change (QoQ)	-36.39%
Owned by Insiders (%)	1.01%
Owned by Institutions (%)	73.38%
Float	103.94M

Valuation Ratios

PE Ratio	n/a
Forward PE	8.86
PS Ratio	3.06
Forward PS	n/a
PB Ratio	0.95
P/TBV Ratio	0.95
P/FCF Ratio	n/a
P/OCF Ratio	12.74
PEG Ratio	n/a

Enterprise Valuation

EV / Earnings	n/a
EV / Sales	23.26
EV / EBITDA	n/a
EV / EBIT	n/a
EV / FCF	n/a

Financial Position

The company has a current ratio of 0.24, with a Debt / Equity ratio of 4.79.

Current Ratio	0.24
Quick Ratio	0.20
Debt / Equity	4.79
Debt / EBITDA	n/a
Debt / FCF	n/a
Interest Coverage	n/a

Financial Efficiency

Return on equity (ROE) is -23.24% and return on invested capital (ROIC) is -0.69%.

Return on Equity (ROE)	-23.24%
Return on Assets (ROA)	-3.94%
Return on Invested Capital (ROIC)	-0.69%
Return on Capital Employed (ROCE)	n/a
Weighted Average Cost of Capital (WACC)	1.27%
Revenue Per Employee	$775,706
Profits Per Employee	-$1.07M
Employee Count	477
Asset Turnover	0.03
Inventory Turnover	n/a

Taxes

In the past 12 months, TWO has paid $8.87 million in taxes.

Income Tax	8.87M
Effective Tax Rate	n/a

Stock Price Statistics

The stock price has decreased by -20.44% in the last 52 weeks. The beta is 1.20, so TWO's price volatility has been higher than the market average.

Beta (5Y)	1.20
52-Week Price Change	-20.44%
50-Day Moving Average	11.54
200-Day Moving Average	10.56
Relative Strength Index (RSI)	39.79
Average Volume (20 Days)	2,657,621

Short Selling Information

The latest short interest is 6.96 million, so 6.63% of the outstanding shares have been sold short.

Short Interest	6.96M
Short Previous Month	7.08M
Short % of Shares Out	6.63%
Short % of Float	6.70%
Short Ratio (days to cover)	1.99

Income Statement

In the last 12 months, TWO had revenue of $370.01 million and -$508.40 million in losses. Loss per share was -$4.88.

Revenue	370.01M
Gross Profit	357.28M
Operating Income	-59.29M
Pretax Income	-445.43M
Net Income	-508.40M
EBITDA	n/a
EBIT	n/a
Loss Per Share	-$4.88

Balance Sheet

The company has $1.09 billion in cash and $8.56 billion in debt, with a net cash position of -$7.47 billion or -$71.16 per share.

Cash & Cash Equivalents	1.09B
Total Debt	8.56B
Net Cash	-7.47B
Net Cash Per Share	-$71.16
Equity (Book Value)	1.79B
Book Value Per Share	11.32
Working Capital	-5.90B

Cash Flow

Operating Cash Flow	88.92M
Capital Expenditures	n/a
Free Cash Flow	n/a
FCF Per Share	n/a

Margins

Gross margin is 96.56%, with operating and profit margins of -16.02% and -122.78%.

Gross Margin	96.56%
Operating Margin	-16.02%
Pretax Margin	-120.38%
Profit Margin	-122.78%
EBITDA Margin	n/a
EBIT Margin	n/a
FCF Margin	n/a

Dividends & Yields

This stock pays an annual dividend of $1.36, which amounts to a dividend yield of 12.62%.

Dividend Per Share	$1.36
Dividend Yield	12.62%
Dividend Growth (YoY)	-15.56%
Years of Dividend Growth	n/a
Payout Ratio	n/a
Buyback Yield	8.12%
Shareholder Yield	20.73%
Earnings Yield	-44.90%
FCF Yield	n/a

Analyst Forecast

The average price target for TWO is $12.94, which is 20.04% higher than the current price. The consensus rating is "Hold".

Price Target	$12.94
Price Target Difference	20.04%
Analyst Consensus	Hold
Analyst Count	6
Revenue Growth Forecast (5Y)	n/a
EPS Growth Forecast (5Y)	n/a

Fair Value

There are several formulas that can be used to estimate the intrinsic value of a stock.

Lynch Fair Value	n/a
Lynch Upside	n/a
Graham Number	n/a
Graham Upside	n/a

Stock Splits

The last stock split was on November 2, 2022. It was a reverse split with a ratio of 1:4.

Last Split Date	Nov 2, 2022
Split Type	Reverse
Split Ratio	1:4

Scores

Altman Z-Score	n/a
Piotroski F-Score	4