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Company Analysis

Two Harbors Investment Corp TWO

A comprehensive view of key metrics, scores, and financial health for Two Harbors Investment Corp

Overview of Two Harbors Investment Corp.

TWO NYQ
Real Estate REIT - Mortgage Framework: Real Estate Investment Trusts Small Cap
Two Harbors Investment Corp. (TWO), is a Small Cap company, in the REIT - Mortgage industry, last closed at $12.05, about 0.0% overvalued vs fair value, +19.9% 1Y return, ranked 255/338 in sector.
Metrics Rev Growth -77.5% ROE -23.2% Gross Margin 816.7% Div Yield 20.34%
USD 12.05
0.08%
(Delayed)
• Vol 90d: 18.0%
52-Week Range
Market Cap
$1.27B
Enterprise Value
$1.60B
Overall Score
View breakdown
Overall
Growth
Weak
Profitability
Fair
Health
Weak
Efficiency
Excellent
Valuation
Fair
Growth
Weak
Profitability
Fair
Health
Weak
Efficiency
Excellent
Valuation
Fair
Completeness: 94%
Confidence: 60%
Updated: Sep 12
Top Beats
No strong beats yet

Quick Facts

Website https://www.twoinv.com
HQ Saint Louis Park, MN
Employees 486
Fiscal year Dec 31

Next Events

Earnings Oct 26 Estimated

Fair Value Snapshot

Bear Base Bull
$0
$0
$0
Current: $12.05

Engine Room Money Flow™

Small Cap

Real Estate Investment Trust - Where revenue goes and how value is created

Flow Steps
Total Revenue
$115.1M
-77.5%%
Net Operating Income
$420.5M
-55.8%%
Net Income
$-508.4M
-252.4%%
FFO (Funds From Operations)
$-191.4M
Money Flow Bridge
Flow Direction: Money moves from left to right
Components: Breakdown shows composition of each stage
Industry-Specific: Real Estate Investment Trust

Quality & Reliability Indicators

NOI Margin
365.5%
Excellent

Operating Income / Revenue - property efficiency

Locked Metric
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Where It Leaks

Cash Flow Health critical
Significant cash flow inefficiencies identified. Multiple high-impact leaks require attention.
4
Active Leaks
2/4
Improving
0
High Impact
3
Critical
Locked Leak
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Locked Leak
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Moat Analysis REIT Specialized

Competitive Advantage Assessment

Evaluating Two Harbors Investment Corp's durable competitive advantages across 6 defense dimensions

Overall Moat Strength
62
/100
Moderate
Scores based on quantitative metrics and qualitative factors
Full moat analysis

Key strengths

  • Strong NOI Margins NOI margins are strong (score 0.91), demonstrating rent pricing power.
  • Strong AFFO Generation AFFO generation is strong (score 0.82), supporting dividend sustainability.

Key risks

  • Dilutive or Undisciplined Growth Growth discipline is questionable (score 0.18), raising dilution concerns.
  • Volatile Occupancy/NOI NOI volatility is high (stability 0.42), raising occupancy concerns.

The dashed ring is the peer median. Defense scores are percentile ranks against peers, so 50 is roughly the typical company in this group.

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Rent Pricing Power

Moderate
71
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Trade-Off Ledger™

Where management spends the performance budget - Growth, Profitability, or Safety

Equity REITs vs Industry Peers 90% Coverage
Trade-Off Triangle Visualization A ternary plot showing TWO's balance between Growth (26.4%), Profitability (38.6%), and Safety (35.1%). Growth 26% Safety 35% Profitability 39%

Click axes to expand details. Marker shows current allocation.

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Growth

32th percentile vs peers
32
Key Signals
FFO Growth YoY 92.7% 87p AFFO YoY Growth 73.7% 78p TSR 6.8% 68p Buyback % 1.1% 45p FFO/Share -55.5% 9p
Strengths
  • FFO Growth YoY in top 20% of peers (92.7%, 87th percentile)
  • Price/FFO in top 20% of peers (-25.09, 98th percentile)
  • P/AFFO in top 20% of peers (-6.09, 96th percentile)
  • Debt/Assets in top 20% of peers (12.0%, 96th percentile)
  • AFFO Payout Ratio in top 20% of peers (-67.4%, 94th percentile)
Risks
  • Rev Growth YoY in bottom 20% of peers (-77.5%)

Profitability

47th percentile vs peers
47
Key Signals
Strengths
Risks
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Safety

43th percentile vs peers
43
Key Signals
Strengths
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Two Futures

Scenario-based fair value ranges for Two Harbors Investment Corp.

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Unable to Compute Fair Value

This company cannot be valued using standard models.

What this means: The Scenario Theatre requires financial data (revenue, cash flow, shares outstanding) to calculate fair value estimates. This data may be unavailable for:

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  • Shell companies or holding companies
  • Companies that haven't filed recent financials
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Base
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Snapshot base estimate
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Fair Value Range Current: $-
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