TWO - NYSE

Two Harbors Investment Corp.

TWO·NYSE

$12.36

-0.40%

Real EstateREIT - Mortgage

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.

Statements Value Model

At a Glance

Live Snapshot

Market Cap$1.30B

EPS-4.3600

P/E Ratio-2.83

Earnings Date07/27/2026

10.86B

Assets

-11%

3Y-19.0%

5Y-44.0%

10Y-46.0%

9.07B

Total Liabilities

-10%

3Y-20.0%

5Y-45.0%

10Y-46.0%

1.79B

Total Equity

-16%

3Y-18.0%

5Y-42.0%

10Y-90.0%

Two Harbors Investment Corp. Funding & Solvency Profile

TWO · NYSE

Current Assets

Cash & Cash Equivalents842.32M

Net Receivables29.23M

Inventory0.00

Other Current Assets219.63M

Total Current Assets1 B

Non-Current Assets

Property, Plant & Equipment0.00

Goodwill & Intangible Assets2.42B

Long-Term Investments6.62B

Other Non-Current Assets730.48M

Total Non-Current Assets7 B

Total Assets

10.86B

Financial Health Analysis

Current Ratio

0.13x

Warning: Liquidity concerns. Current assets may not be sufficient to cover short-term obligations.

Debt-to-Equity Ratio

5.07x

High financial leverage. Heavy reliance on debt may indicate increased financial risk and potential solvency concerns.

Working Capital

-7439655000

Negative working capital indicates short-term liabilities exceed short-term assets—potential liquidity stress.

Asset Composition

10% Current

Capital-intensive business with significant long-term investments in property, equipment, or intangibles.

Financial Health Insight

Financial stress indicators: Both liquidity and leverage metrics raise concerns. The company may face challenges meeting obligations and should focus on strengthening its balance sheet.

Two Harbors Investment Corp. Balance Sheet

TWO • NYSE

Two Harbors Investment Corp. Balance Sheet	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017	Dec 2016	Dec 2015	Dec 2014	Dec 2013	Dec 2012	Dec 2011	Dec 2010	Dec 2009	Dec 2008	Dec 2007
ASSETS
CURRENT ASSETS
Cash and Cash Equivalents	842.3M	504.6M	729.7M	683.5M	1.2B	1.4B	558.1M	409.8M	419.2M	406.9M	737.8M	1B	1B	821.1M	360M	163.9M	26.1M	2.8M	461.5K
Short-Term Investments	141K	7.4B	8.3B	7.8B	7.2B	14.7B	31.4B	25.6B	21.2B	13.1B	7.8B	14.3B	12.3B	13.7B	7.3B	1.6B	0.0	0.0	0.0
Cash & Short-Term Investments	842.5M	7.9B	9.1B	8.5B	8.3B	16B	32B	26B	21.6B	13.5B	8.6B	15.3B	13.3B	14.5B	7.6B	1.7B	26.1M	2.8M	461.5K
Net Receivables	29.2M	33.3M	35.3M	36M	26.3M	193.6M	411.6M	241.2M	910.6M	62.8M	93M	113.7M	77.5M	118.8M	56.2M	5.4M	2.6M	0.0	0.0
Accounts Receivables	29.2M	33.3M	35.3M	36M	26.3M	47.2M	92.6M	86.6M	68.3M	59M	50M	65.5M	50.3M	42.6M	23.4M	5.4M	2.6M	0.0	0.0
Other Receivables	0.0	0.0	0.0	0.0	0.0	146.4M	319M	154.6M	842.3M	3.7M	43M	48.2M	27.2M	76.2M	32.8M	0.0	0.0	0.0	0.0
Inventory	0.0	0.0	0.0	0.0	0.0	0.0	2B	1.3B	1.1B	-324.2M	-271.5M	-380.8M	-549.9M	-2B	0.0	0.0	368.0	0.0	0.0
Prepaids	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	1.4M	722K	0.0	571.6K	50.3K	0.0
Other Current Assets	219.6M	313M	65.1M	443M	934.8M	0.0	-2B	0.0	0.0	0.0	0.0	0.0	0.0	1.9B	138.9M	22.5M	8.3M	259.1M	1.5M
Total Current Assets	1.1B	8.2B	9.2B	8.9B	9.3B	16.2B	32.4B	26.2B	21.7B	13.6B	8.6B	15.4B	13.3B	14.5B	7.8B	1.7B	38.2M	3M	2M
NON-CURRENT ASSETS
Property, Plant, and Equipment (Net)	0.0	0.0	0.0	0.0	0.0	0.0	-2.6B	-2.6B	1.2M	1.9M	2.7M	2.9M	1.4M	783K	0.0	0.0	0.0	0.0	0.0
Intangible Assets	2.4B	3B	3.1B	3B	2.2B	1.6B	1.9B	2B	1.1B	693.8M	493.7M	452M	514.4M	0.0	0.0	0.0	0.0	0.0	0.0
Goodwill & Intangible Assets	2.4B	3B	3.1B	3B	2.2B	1.6B	1.9B	2B	1.1B	693.8M	493.7M	452M	514.4M	0.0	0.0	0.0	0.0	0.0	0.0
Long-Term Investments	6.6B	12.4M	85.6M	26.4M	80.1M	14.7B	31.4B	25.6B	21.2B	13.1B	7.8B	16.3B	13.3B	15B	0.0	0.0	494.5M	0.0	0.0
Tax Assets	0.0	0.0	0.0	0.0	0.0	0.0	35.9B	30.1B	50.4M	111.6M	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Non-Current Assets	730.5M	974.9M	843.8M	1.5B	566M	-16.2B	-33.3B	-27.5B	-50.4M	-111.6M	-8.3B	-16.8B	-13.8B	-15B	292M	51.7M	5.7M	259.1M	258.3M
Total Non-Current Assets	9.8B	4B	4B	4.5B	2.8B	16.2B	33.3B	27.5B	22.3B	13.8B	8.3B	16.8B	13.8B	15B	292M	51.7M	500.2M	259.1M	258.3M
Other Assets	0.0	0.0	0.0	0.0	0.0	-13B	-29.8B	-23.6B	-19.2B	-7.3B	-2.4B	-11.2B	-9.9B	-12.7B	0.0	0.0	0.0	0.0	0.0
Total Assets	10.9B	12.2B	13.1B	13.5B	12.1B	19.5B	35.9B	30.1B	24.8B	20.1B	14.6B	21B	17.2B	16.8B	8.1B	1.8B	538.4M	262.1M	260.3M
LIABILITIES
CURRENT LIABILITIES
Total Payables	346.7M	793.4M	775.2M	700.2M	287.4M	223M	537.2M	425.8M	189.1M	224.2M	145.1M	244.6M	339.9M	596.3M	112.2M	242.2M	3.5M	193.6K	78.2K
Accounts Payable	81.9M	86M	141.8M	94M	18.4M	21.7M	149.6M	160M	87.7M	28.9M	18.7M	23.8M	20.3M	19.1M	6.5M	0.0	0.0	193.6K	78.2K
Other Payables	264.7M	707.4M	633.5M	606.2M	269M	201.3M	0.0	-160M	-87.7M	-28.9M	126.4M	220.8M	319.6M	577.2M	105.7M	242.2M	3.5M	0.0	0.0
Accrued Expenses	0.0	0.0	0.0	0.0	0.0	0.0	149.6M	160M	87.7M	28.9M	37.1M	29.8M	20M	13.3M	8.9M	785K	114K	0.0	78.2K
Short Term Debt	8.2B	8.8B	9.3B	9.7B	8.1B	283.8M	300M	310M	20M	70M	0.0	0.0	0.0	0.0	0.0	0.0	411.9M	0.0	0.0
Tax Payables	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	70K	1.4M	757K	0.0	3.9M	0.0	0.0	0.0	0.0
Deferred Revenue	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	-5B	-12.9B	-12.1B	0.0	0.0	0.0	0.0	0.0	0.0
Other Current Liabilities	0.0	0.0	0.0	0.0	0.0	-201.3M	-537.2M	-895.8M	-296.8M	-323.1M	-182.2M	-274.4M	-359.9M	-609.6M	-117.2M	1.2B	-410.9M	-193.6K	540.4K
Total Current Liabilities	8.5B	9.6B	10.1B	10.4B	8.4B	305.5M	449.6M	470M	107.7M	99.5M	18.7M	23.8M	20.3M	19.1M	6.8B	1.4B	4.6M	193.6K	696.9K
NON-CURRENT LIABILITIES
Long Term Debt	372.9M	260.2M	563.9M	680.5M	821.6M	681.8M	889.5M	1.1B	1.5B	7B	5.8B	3.7B	639.7M	200M	0.0	0.0	204.8M	0.0	0.0
Deferred Revenue (Non-Current)	0.0	0.0	0.0	0.0	0.0	0.0	31B	25.9B	-24.5M	7B	0.0	0.0	0.0	0.0	0.0	0.0	-204.8M	0.0	0.0
Deferred Tax Liabilities (Non-Current)	0.0	0.0	0.0	0.0	0.0	0.0	-30.1B	-24.7B	24.5M	54.3M	0.0	0.0	39.4M	0.0	0.0	0.0	124K	0.0	0.0
Other Non-Current Liabilities	167.4M	201M	246.9M	180M	184.1M	-681.8M	-889.5M	-1.1B	-1.2B	-7B	-5.8B	-3.7B	-679.1M	0.0	0.0	2.2M	-203.8M	77.5M	77.5M
Total Non-Current Liabilities	540.3M	461.2M	810.8M	860.5M	1B	681.8M	889.5M	1.1B	282.8M	7B	5.8B	3.7B	679.1M	200M	6.8B	2.2M	412M	77.7M	77.5M
Other Liabilities	0.0	0.0	0.0	0.0	0.0	15.4B	29.6B	24.3B	20.8B	9.6B	5.2B	13.2B	12.6B	13.1B	-6.8B	0.0	0.0	0.0	0.0
Capital Lease Obligations	0.0	0.0	0.0	0.0	0.0	0.0	977.5M	977.5M	702.5M	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Total Liabilities	9.1B	10.1B	10.9B	11.3B	9.4B	16.4B	31B	25.9B	21.2B	16.7B	11B	17B	13.3B	13.4B	6.8B	1.4B	416.6M	77.9M	78.2M
SHAREHOLDERS' EQUITY
Preferred Stock	601.5M	601.5M	613.2M	631M	702.6M	977.5M	977.5M	977.5M	702.5M	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Common Stock	1M	1M	1M	864K	860K	2.7M	2.7M	2.5M	1.7M	3.5M	3.5M	3.7M	3.6M	3M	1.4M	405K	1K	2.5K	2.5K
Additional Paid-In Capital	5.9B	5.9B	5.9B	5.6B	5.6B	5.2B	5.2B	4.8B	3.7B	3.7B	3.7B	3.8B	3.8B	2.9B	1.4B	367M	131.8M	181.2M	181.4M
Retained Earnings	-4.8B	-4.1B	-4.2B	-3.8B	-3.8B	-3.7B	-1.9B	-1.6B	-1.1B	-461.6M	-491.6M	-602.4M	-388.8M	-197.2M	-45.7M	-7.6M	-9.2M	3M	714.6K
Accumulated Other Comprehensive Income/Loss	-87K	-320.5M	-176.4M	-278.7M	186.3M	641.6M	689.4M	110.8M	334.8M	199.2M	359.1M	855.8M	444.7M	696.5M	-58.7M	22.6M	-950K	0.0	0.0
Total Stockholders' Equity	1.8B	2.1B	2.2B	2.2B	2.7B	3.1B	5B	4.3B	3.6B	3.4B	3.6B	4.1B	3.9B	3.5B	1.3B	382.4M	121.7M	184.2M	182.1M
Total Equity	1.8B	2.1B	2.2B	2.2B	2.7B	3.1B	5B	27.7B	23.5B	18.6B	3.6B	4.1B	3.9B	3.5B	1.3B	382.4M	121.7M	184.2M	182.1M
Minority Interest	0.0	0.0	0.0	0.0	0.0	0.0	28.7B	23.5B	19.9B	15.2B	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
SUMMARY
Total Liabilities & Equity	10.9B	12.2B	13.1B	13.5B	12.1B	19.5B	35.9B	30.1B	24.8B	20.1B	14.6B	21B	17.2B	16.8B	8.1B	1.8B	538.4M	262.1M	260.3M
Total Investments	6.6B	7.4B	8.4B	7.8B	7.2B	29.3B	62.8B	51.1B	42.5B	26.3B	15.7B	30.7B	25.5B	28.7B	7.3B	1.6B	494.5M	0.0	0.0
Total Debt	8.6B	9.1B	9.9B	10.4B	8.9B	965.6M	1.2B	1.5B	1.5B	7.1B	5.8B	3.7B	639.7M	0.0	0.0	0.0	411.9M	0.0	0.0
Net Debt	7.7B	8.6B	9.2B	9.7B	7.7B	-419.1M	631.3M	1B	1.1B	6.7B	5B	2.7B	-385.8M	-821.1M	-360M	-163.9M	385.8M	-2.8M	-461.5K
Shares Outstanding	104,155,818	104,155,818	104,155,818	104,155,818	104,155,818	104,155,818	104,155,818	104,155,818	104,155,818	104,155,818	104,155,818	104,155,818	104,155,818	104,155,818	104,155,818	104,155,818	104,155,818	104,155,818	104,155,818

SEC Filings

TWO - Filing history and reports

Filing Type	Filing Date	Period Ending	Fiscal Year	Actions
8-K 8-K 2026 N/A	May 28, 2026	May 28, 2026	2026	View Filing
8-K 8-K 2026 N/A	May 19, 2026	May 19, 2026	2026	View Filing
8-K 8-K 2026 N/A	May 15, 2026	May 13, 2026	2026	View Filing
8-K 8-K 2026 N/A	May 14, 2026	May 13, 2026	2026	View Filing
8-K 8-K 2026 N/A	May 08, 2026	May 07, 2026	2026	View Filing
10-Q 10-Q 2026 Q1 Q1	April 29, 2026	March 31, 2026	2026	View Filing
8-K 8-K 2026 N/A	April 29, 2026	April 28, 2026	2026	View Filing
8-K 8-K 2026 N/A	April 28, 2026	April 28, 2026	2026	View Filing
10-K/A 10-K/A 2025 FY (Amended) FY	April 27, 2026	December 31, 2025	2025	View Filing
8-K 8-K 2026 N/A	March 27, 2026	March 27, 2026	2026	View Filing

Showing 1 to 10 of 409 filings

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