Two Harbors Investment Corp.
TWOReal EstateNASDAQREIT - Mortgage
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Daily timeframeTwo Harbors Investment Corp. invests in, finances, and manages mortgage servicing rights (MSRs), agency residential mortgage-backed securities (RMBS), and other financial assets through RoundPoint in the United States. The $1.30B market capitalization puts TWO squarely in small-cap range for its industry. The company target assets include agency RMBS collateralized by fixed rate mortgage loans, adjustable rate mortgage loans, hybrid mortgage loans, or derivatives; and other assets, such as financial and mortgage-related assets, comprising non-agency securities and non-hedging transactions.
Market Cap
$1.30B
Beta
1.04
P/E (TTM)
—
P/E (Fwd)
10.64
EPS (TTM)
$-3.81
EPS (Fwd)
$1.16
ROE
-17.7%
ROA
-2.8%
Cash
$718.4M
Total Debt
$8.30B
Free CF
—
52W Change
20.4%
Annual Financials
Cash vs Debt
The company holds $718.4M in cash, though total debt stands at $8.30B. This level of leverage is common in the industry but worth monitoring as interest rate conditions evolve. Return on equity stands at -17.7%, which is negative for the sector. ROE measures how effectively a company uses shareholder capital to generate profits. Revenue has pulled back from $407.2M (2022) to $115.1M (2025), a 72% decline worth watching.
The debt-to-cash ratio suggests meaningful leverage on the balance sheet, a factor worth monitoring if credit conditions tighten. No single metric tells the full story. Reviewing TWO's risk profile alongside its fundamentals and technical indicators provides a more complete picture.