TWO HARBORS INVESTMENT CORP.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Interest expense | — | $607.8M | $643.2M | $258.4M | $89.2M |
| Pretax income | -$445.4M | $344.8M | -$83.4M | $324.5M | $191.4M |
| Income tax expense | $8.9M | $46.6M | $23.0M | $104.2M | $4.2M |
| Net income | -$454.3M | $298.2M | -$106.4M | $220.2M | $187.2M |
| Balance Sheet | |||||
| Cash and equivalents | $842.3M | $504.6M | $729.7M | $683.5M | $1.2B |
| Total assets | $10.9B | $12.2B | $13.1B | $13.5B | $12.1B |
| Total liabilities | $9.1B | $10.1B | $10.9B | $11.3B | $9.4B |
| Stockholders' equity | $1.8B | $2.1B | $2.2B | $2.2B | $2.7B |
| Cash Flow Statement | |||||
| Cash from operations | $88.9M | $201.0M | $343.5M | $623.4M | $423.5M |
| Stock-based compensation | $13.4M | $10.9M | $11.0M | $11.6M | $11.5M |
| Dividends paid | $170.9M | $187.7M | $197.6M | $235.4M | $193.5M |
| Share repurchases | $0 | $0 | $7.1M | $0 | $0 |
Shares outstanding 105.0M · Free float 89.3%
Annual filing data through FY ended December 31, 2025; float as of July 13, 2026.