Two Harbors Investment Corp. logo
Two Harbors Investment Corp. TWO
$ 12.04 0.25%
report update icon

Quarterly report 2025-Q3
added 07-29-2026

Two Harbors Investment Corp. Financial Ratios 2025-2008 | TWO

Brief overview of Two Harbors Investment Corp.'s valuation multiples

Current figures are compared with the company's own five-year history for 2017–2024.

The current valuation set is P/E 4.69x (median 6.48x), P/S 11.13x (median 8.08x), P/B 0.66x (median 0.65x). Valuation is 19.1% above five-year reference levels. The premium requires support from earnings and returns.

Earnings yield calculated as 1/P/E is about 21.3%, showing current profit per unit of share price.

Returns on assets and capital are represented by ROE -25.4%, ROA -4.2%, ROCE 11.8%. Returns below zero mean resources are not producing positive profit. Recovery in operating results is the main reference point.

Overall assessment

Two Harbors Investment Corp.'s market premium is not yet supported by strong capital returns, raising valuation risk.

Annual Financial Ratios Two Harbors Investment Corp.

2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008

P/E

-2.6 4.7 -11.4 6.5 2.2 -0.2 12.6 -67.5 7.5 7.0 4.6 18.5 4.9 7.9 5.8 85.7 - -

P/S

- - - - - - 11.1 19.6 8.1 5.6 4.0 22.8 4.1 8.8 4.1 - - -

EPS

-4.9 2.4 -1.6 2.1 1.7 -24.9 0.9 -0.5 1.9 2.0 2.7 0.5 1.6 1.2 1.3 0.6 -0.4 -

EV (Enterprise Value)

9.4 B 11 B 11.4 B 12 B 8.63 B 15.4 B 34.5 B 28.5 B 23.4 B 18.8 B 12.5 B 19.1 B 15.1 B 14.8 B 7.21 B 2.66 B -26.1 M -

EV/EBITDA

- - - - - 20.7 - - - - - - - - - - - -

PEG

- - - - - 0.0 0.05 0.53 -0.89 -0.28 0.02 -0.26 0.13 -1.27 -0.3 - - -

P/B

0.7 0.7 0.6 0.7 0.2 0.1 0.8 0.7 0.7 0.7 0.6 0.8 0.7 0.7 0.6 3.7 - -

P/CF

13.2 7.0 3.5 2.3 1.0 0.6 9.2 -10.9 21.4 -31.7 -1.1 -3.7 -3.0 14.1 4.9 42.6 - -

ROE %

-25.41 14.05 -4.83 10.09 6.82 -52.77 6.52 -1.04 9.76 10.39 13.76 4.11 15.02 8.46 10.03 4.30 -5.28 -

ROA %

-4.18 2.44 -0.81 1.64 1.55 -8.35 0.90 -0.15 1.41 1.76 3.38 0.79 3.37 1.74 1.57 0.92 - -

ROCE %

- - - - - - - - - - - - - - 11.80 - - -

Current Ratio

1.2 1.2 1.2 1.2 1.3 1.2 1.1 1.1 1.1 1.4 1.7 1.2 1.1 - 1.1 1.3 - -

DSO

- - - - - - 409.2 577.6 1058.7 138.3 59.5 305.7 41.2 164.9 47.8 - - -

Operating Cycle

- - - - - - - - - - - - - - 47.8 - - -

Cash Conversion Cycle

- - - - - - - - - - - - - - 47.8 - - -

All numbers in USD currency

Quarterly Financial Ratios Two Harbors Investment Corp.

2026-Q1 2025-Q4 2025-Q3 2025-Q2 2025-Q1 2024-Q4 2024-Q3 2024-Q2 2024-Q1 2023-Q4 2023-Q3 2023-Q2 2023-Q1 2022-Q4 2022-Q3 2022-Q2 2022-Q1 2021-Q4 2021-Q3 2021-Q2 2021-Q1 2020-Q4 2020-Q3 2020-Q2 2020-Q1 2019-Q4 2019-Q3 2019-Q2 2019-Q1 2018-Q4 2018-Q3 2018-Q2 2018-Q1 2017-Q4 2017-Q3 2017-Q2 2017-Q1 2016-Q4 2016-Q3 2016-Q2 2016-Q1 2015-Q4 2015-Q3 2015-Q2 2015-Q1 2014-Q4 2014-Q3 2014-Q2 2014-Q1 2013-Q4 2013-Q3 2013-Q2 2013-Q1 2012-Q4 2012-Q3 2012-Q2 2012-Q1 2011-Q4 2011-Q3 2011-Q2 2011-Q1

EPS

0.18 - -1.36 -2.62 -0.89 - -2.42 0.43 1.85 - 3.04 1.94 -2.05 - 3.04 -1 3.14 - 0.68 -0.48 0.81 0.7 0.67 -0.7 -6.91 0.42 1.05 -0.4 -0.18 -2.31 0.08 0.72 1.83 0.88 0.53 0.02 0.41 1.96 0.68 -0.1 -0.51 0.59 -0.09 0.6 0.26 -0.1 0.53 0.11 -0.08 0.66 -0.53 1.06 0.47 0.64 0.1 0.11 0.28 0.37 0.42 -0.01 0.49

ROE %

-22.77 -24.64 -35.63 -25.84 -3.02 0.66 15.12 35.03 24.59 15.50 28.44 11.07 13.01 20.88 23.30 5.61 17.35 6.50 12.73 16.99 15.62 -53.74 -57.63 -58.17 -53.87 6.14 -9.67 -14.98 -9.88 -1.49 16.30 18.32 15.28 9.43 15.15 15.76 15.02 10.39 6.24 1.80 8.50 13.76 6.96 12.69 7.48 4.11 11.23 1.47 10.58 15.02 14.30 20.07 10.69 8.46 7.02 10.55 9.77 10.03 4.30 -0.08 1.76

ROA %

-3.45 -3.75 -5.60 -3.99 -0.44 0.13 2.33 5.59 3.89 2.34 4.23 4.35 3.52 4.79 3.85 1.96 3.46 1.14 2.12 2.58 2.63 -8.45 -9.11 -9.30 -8.66 0.85 -1.38 -2.11 -1.39 -0.21 2.31 2.61 2.18 1.36 2.43 2.61 2.49 1.76 1.50 0.68 2.28 3.38 1.76 2.91 1.58 0.79 2.36 0.32 2.40 3.37 3.10 4.39 2.26 1.74 1.25 1.76 1.60 1.57 0.67 -0.01 0.28

Current Ratio

1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 - 1.3 1.3 1.3 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.3 1.3 1.3 1.3 1.2 1.2 1.2 1.2 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.2 1.2 1.2 1.2

All numbers in USD currency

Multiples are an important financial analysis tool for the company Two Harbors Investment Corp., allowing investors and analysts to quickly assess the company’s value and investment attractiveness based on the ratio of market indicators to the company’s financial performance. Essentially, multiples express how the market values the company relative to its earnings, revenue, equity, or other key metrics.

Advantages of Using Financial Ratios
  • Simplified Data Analysis
    Financial ratios transform large volumes of accounting data into compact and easily interpretable indicators, significantly simplifying the assessment of the company’s condition.
  • Comparability Between Companies
    Multiples standardize financial metrics, enabling objective comparison of companies of different sizes, industries, and market capitalizations.
  • Identification of Trends and Issues
    Regular analysis of ratios helps track the dynamics of financial health, identify strengths and weaknesses of the business, as well as potential risks.
  • Decision Support
    Financial multiples serve as an important tool for investors, creditors, and company management in making investment, credit, and managerial decisions.
  • Accelerated Assessment of Investment Attractiveness
    Ratios allow quick determination of key performance, liquidity, and financial stability indicators, facilitating prompt evaluation of companies’ attractiveness for investments.

Using multiples enables comparison between companies, even if they differ in size or industry, as they standardize financial data into ratios convenient for analysis. This is especially useful for evaluating companies where direct analysis of financial statements may be complex or require in-depth knowledge.

Financial Ratios of other stocks in the Reit mortgage industry

Issuer Price % 24h Market Cap Country
ACRES Commercial Realty Corp. ACRES Commercial Realty Corp.
ACR
$ 14.25 0.92 % $ 102 M usaUSA
Great Ajax Corp. Great Ajax Corp.
AJX
- -0.66 % $ 73.3 M usaUSA
ARMOUR Residential REIT ARMOUR Residential REIT
ARR
$ 16.74 0.18 % $ 1.57 B usaUSA
Anworth Mortgage Asset Corporation Anworth Mortgage Asset Corporation
ANH
- 0.34 % $ 296 M usaUSA
Capstead Mortgage Corporation Capstead Mortgage Corporation
CMO
- 2.52 % $ 634 M usaUSA
Broadmark Realty Capital Broadmark Realty Capital
BRMK
- -0.21 % $ 635 M usaUSA
New Residential Investment Corp. New Residential Investment Corp.
NRZ
- 0.87 % $ 5.12 B usaUSA
Manhattan Bridge Capital Manhattan Bridge Capital
LOAN
$ 4.12 0.17 % $ 47.1 M usaUSA
Annaly Capital Management Annaly Capital Management
NLY
$ 23.33 0.34 % $ 14.9 B usaUSA
Apollo Commercial Real Estate Finance Apollo Commercial Real Estate Finance
ARI
$ 6.83 0.51 % $ 948 M usaUSA
Dynex Capital Dynex Capital
DX
$ 13.06 0.27 % $ 1.62 B usaUSA
Western Asset Mortgage Capital Corporation Western Asset Mortgage Capital Corporation
WMC
- - $ 554 M usaUSA
Orchid Island Capital Orchid Island Capital
ORC
$ 6.65 0.38 % $ 853 M usaUSA
MFA Financial MFA Financial
MFA
$ 9.16 0.05 % $ 949 M usaUSA
AGNC Investment Corp. AGNC Investment Corp.
AGNC
$ 10.96 0.27 % $ 11.2 B usaUSA
Chimera Investment Corporation Chimera Investment Corporation
CIM
$ 11.8 0.21 % $ 970 M usaUSA
Cherry Hill Mortgage Investment Corporation Cherry Hill Mortgage Investment Corporation
CHMI
$ 2.92 0.52 % $ 101 M usaUSA
Sachem Capital Corp. Sachem Capital Corp.
SACH
$ 0.79 0.36 % $ 37 M usaUSA
Ladder Capital Corp Ladder Capital Corp
LADR
$ 9.98 0.05 % $ 1.25 B usaUSA
Ellington Residential Mortgage REIT Ellington Residential Mortgage REIT
EARN
$ 4.4 2.07 % $ 153 M usaUSA
Ready Capital Corporation Ready Capital Corporation
RC
$ 1.85 4.23 % $ 304 M usaUSA