Two Harbors Investment share price

Two Harbors Investment Corp.'s share price was $12.18 at the close on 24 August 2026. That is 6.8% above its average price over the last 200 trading days. In the last 52 weeks it traded between $9 and $14, and at that close it sat 63% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). The phase helps read everything below.

Over the past 13 weeks it has done worse than the S&P 500, and it has been behind for 5 weeks running.

Over the last 1 year the share price moved +18% while the S&P 500 moved +23%, so it is behind the index over that whole period. It was last ahead over 13 weeks in the week of 24 July 2026. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

Two Harbors Investment Corp. paid $1.36 per share over the last four reported quarters. The most recent declaration was $0.34 for Jun 2026. At today's price of $12.18 that is a yield of 11.17%, based on dividends already paid, not a forecast.

A dividend is cash paid out for each share. The 12-month total is the four most recent quarters added together.

Two Harbors Investment is not in the Nasdaq 100, the S&P 500 or the Dow Jones 30, and is not on the US tech stocks list.

Two Harbors Investment Corp. earned $48.8 M of net profit in the Jun 2026 quarter. The full FY25 year was a loss of $508 M. That is 28.7% of the quarter's revenue. The same quarter a year earlier lost $273 M. 5 of the last 10 reported quarters were loss-making.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

For the full year, FY25 profit was −$508 M (−303.4% on the year before).

Two Harbors Investment Corp. reported $170 M of revenue in the Jun 2026 quarter, +620.2% on the same quarter a year earlier. That is the 2nd quarter in a row with growth on the year before. Over 4 years it has grown −5.1% a year on average. The last full year, FY25, came in at $370 M.

Revenue is everything the company billed its customers in the period.

The last four reported quarters add to $640 M.

The quarterly figures for FY23 do not add up to the full-year total on file, so those quarters are left out of the charts and sums.

FY25 revenue was $370 M, −37.6% on the year before.

Recent pace: the last four quarters grew +713.3% on average, against −5.1% a year over the longer run, so this year is growing faster than its own long-run rate.

Two Harbors Investment Corp.'s operating margin was 48.1% in the Jun 2026 quarter, 279.7 percentage points higher than the same quarter a year ago. Across 5 years it has been between −35.6% and 428.4%. The latest quarter is within that range.

Operating margin is what is left from every $100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why: the operating margin move is clear, but the cost details behind it are not in our data, so we show the move without guessing the reason.

Over the last 3 years, 221% of Two Harbors Investment Corp.'s reported profit came in as cash from its operations, so the profit is backed by cash. In FY25 it brought in $88.9 M of operating cash against −$508 M of profit.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why: the cash figure is clear, but the day counts behind it are not in our data, so we show it without guessing the reason.

What to look at next: no single use of cash stands out. The next section checks both the cash tied up in daily operations and the spending on assets.

Two Harbors Investment Corp. does not report the customer, stock and supplier day counts a cash cycle needs, so this section looks at its spending on assets instead. Nothing is estimated in place of the missing day counts, so no cash-cycle chart is drawn.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

In short: neither the daily cycle nor new spending is soaking up the cash, so the picture is fairly clean.

Two Harbors Investment Corp.'s P/E is 4.4×, with too little history to compare. Its usual P/E (the middle reading) is 4.5×, over 1 month of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many dollars the market pays for each dollar of yearly profit.

Why the multiple is where it is: over the past year earnings per share moved −306.0% while the price moved +24.0%. The price did better than earnings, which pushed the multiple up within its own range.

In short: there is too little history to say whether the multiple is high or low for this company, so the earnings trend underneath matters more than the multiple.

Two Harbors Investment Corp.'s business trend cannot be read yet. There are fewer than eight usable quarters of growth figures, so there is not enough history to read the trend. This is based on 5 quarters of 1 measure, with some gaps.

Every business is somewhere on a path of getting better or worse, and this section names where. The last 12 quarters of growth in revenue, profit and earnings per share, plus the return the business earns on its capital, are read as lines. Getting worse: the lines are falling. Turning around: a low point has just formed and the last few quarters are rising from it. Getting better: the rise from the low has lasted. Growing steadily: steady growth with healthy returns. Slowing from a peak: still high, but slowing. When the lines disagree the result is mixed; too little history means no reading. CAGR (compound annual growth rate) is the steady yearly rate that would turn the starting value into the latest one. It is the fairest way to compare growth over different periods. If the 1-year figure is much bigger than the 10-year one, recent growth is running faster than the long-run trend. A dash means there is no figure for that period, or the starting year was a loss, where a growth rate means nothing.

Why it matters: with too little history, we say so rather than guess a direction.

One or more growth lines have an extreme jump caused by comparing with a near-zero or loss-making quarter. Those jumps are capped before reading and drawn at the edge of the chart, so one odd quarter does not decide the result.

The return figures here are yearly, not quarterly. They show level and direction only; they can support the growth lines but never decide the reading alone.

There are fewer than eight usable quarters, so this page does not guess a direction from so little history.

Compound annual growth rate (%)

Compound annual growth rate over each period, %. Revenue, profit and EPS come from yearly figures; the stock price row is price growth over the same periods. A dash means no figure for that period, or the starting year was a loss.

Two Harbors Investment Corp. earned a ROE of −28% in FY25. Its return on capital used (ROIC) is 0.5 percentage points above its cost of capital, so growth here adds value, not just size. It comes from a −137.4% net margin and 0.03× asset turnover (sales divided by assets).

Return on equity (ROE) is the profit the business earns on its shareholders’ money. We do not have the full capital split, so ROE is the longest history we can draw here.

Why the return is what it is (FY25): a −137.4% net margin × 0.03× asset turnover × 6.07× leverage (assets divided by equity) ≈ −25.0% on equity. The margin does its share; borrowing is a big part of it.

The key test, return on capital used minus the cost of capital: 2.1% − 1.6% = +0.5 percentage points. The 1.6% is an estimate of this company's own cost of capital. Read the sign and size of the gap, not the decimals. Positive but thin: it creates value with little room for error.

The 2.1% ROIC above is the latest reading, as reported. The yearly chart below shows FY25 at −0.5%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method.

Two Harbors Investment Corp. has total debt of $6.6 B against shareholder equity of $1.7 B as of Jun 2026, so its debt is 3.79× its equity. Year by year, that ratio went from 3.26 in FY21 to 4.79 in FY25. Keep that borrowing in mind when reading the returns on this page.

Debt-to-equity shows how much of the business is paid for with borrowed money. Lower is safer, and the direction matters as much as the level.

4.5% of Two Harbors Investment Corp.'s tradable shares are in short positions, which are bets that the price will fall, so some traders are betting against it. At normal trading volumes, closing those positions would take about 1.7 days. US companies do not publish a quarter-by-quarter list of owners, so this page uses short interest instead.

There is no quarter-by-quarter list of owners here, so we look at short interest: the share of tradable shares held in short positions, which gain if the price falls.

It is a single reading at one point in time; we do not have its history.

Why it is at this level: the figure does not say who has the short positions or why, so we show the level without guessing the story.

For Two Harbors Investment Corp., the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date.

The Z-score estimates how far a company is from balance-sheet trouble. Above about 3 is safe; below about 1.8 is the danger zone. It was built for manufacturers, so it is not used for banks and lenders.

58.7 out of 100, rank 23 of 25 in REIT - Mortgage, with 47% of the evidence available. It is provisional, so it is ranked below companies with full evidence.

Two Harbors Investment Corp. scores 58.7 out of 100 against the 25 companies it is compared with in REIT - Mortgage, ranking 23. Some evidence is missing, so the score is pulled toward the middle on purpose.

The three scored parts add up to the total exactly: 31.5 + 16.6 + 10.6 = 58.7 (no relative-strength reading this week; its 20 points are shared across the other three). This is the same number shown on the industry page; it is worked out once for the whole group and read here.

What would change it: The score would fall if ROA turns down or gross NPA rises while the share price lags its sector.

Two Harbors Investment ranks 23 of 25 REIT - Mortgage companies on the 4-Factor Sector Score, with 58.7 out of 100.

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. Financial companies use P/BV÷ROE and asset quality; PEG, industrial OPM and ROCE are excluded. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led S&P 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led S&P 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read.

The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section.

Related companies: REIT - Mortgage, all 25 compared on one page.

Two Harbors Investment is the 9th largest of 29 REIT - Mortgage companies on Sector Alpha by market value (scores of 4 November 2026). Just above it: Blackstone Mortgage Trust, Inc., ARMOUR Residential REIT, Inc. and Ellington Financial Inc. Just below it: Ladder Capital Corp, Orchid Island Capital, Inc. and Chimera Investment Corporation.

REIT - Mortgage companies close in size

6. Blackstone Mortgage Trust, Inc. $2 billion
7. ARMOUR Residential REIT, Inc. $1.9 billion
8. Ellington Financial Inc. $1.5 billion
9. Two Harbors Investment Corp. $1.3 billion
10. Ladder Capital Corp $1.2 billion
11. Orchid Island Capital, Inc. $957 million
12. Chimera Investment Corporation $727 million

All 29 REIT - Mortgage companies, largest first

Companies close in size in other industries

2284. Alphatec Holdings, Inc. $1.3 billion · Medical Devices
2285. Red Violet, Inc. $1.3 billion · Software - Application
2286. Two Harbors Investment Corp. $1.3 billion
2287. Inhibrx Biosciences, Inc. $1.3 billion · Biotechnology
2288. Alexander's, Inc. $1.3 billion · REIT - Retail

Sector Alpha, written by code from the published numbers. Data as of 24 August 2026.

Every chart on this page is drawn by code from the published figures, with no forecasts and no price opinions.

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