Two Harbors Investment Corp. TWO | NYSE

Dividends

Company Overview:

Market Cap: $1.28B
Trailing PE: —
FWD PE: —
Payout Ratio (TTM): —
52-Week Range: $8.78 - $14.17

9.8 Year TWO Performance Metrics:

Total Return (with DRIP): -27.8% (-3.27% CAGR)
Total Return (no DRIP): -12.4% (-1.35% CAGR)
Share Price: -77.7% (-14.21% CAGR)
Yield on Cost (with DRIP): 8.07%
Total Invested: $10,000
Total Value (with DRIP): $7,223
Total Return $ (with DRIP): -$2,777
Dividend Increase: -79.2% (-15.24% CAGR)
Dividend Yield (FWD): 11.17% ($1.36)
TWO 9.8-yr Total Return ($10K invested)
1M 3M 6M YTD 1Y 3Y 5Y 10Y
TWO Share Price
1M 3M 6M YTD 1Y 3Y 5Y 10Y All
TWO Price CAGR:1Y: 24.16%2Y: -6.26%5Y: -14.23%10Y: -14.55%
TWO Dividend Charts
TWO - Dividends
TWO Dividend CAGR:1Y: -12.82%2Y: -13.08%5Y: -12.94%10Y: -13.83%
TWO - Dividend Payout Ratio
TWO Dividend Payout Ratio CAGR:1Y: 0.00%2Y: -13.15%5Y: 0.00%10Y: 0.00%
TWO - Dividend to Free Cash Flow Ratio
TWO Dividend to FCF Ratio CAGR:1Y: -96.73%2Y: -21.76%5Y: -40.64%10Y: 0.00%
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TWO - Chart 1
TWO - Chart 2
TWO - Chart 3

TWO Financials: Earnings, Revenue, Cash Flow, Ebitda, Cash/Debt, Shares Float, etc:

Revenue
TWO Revenue CAGR:1Y: 78.09%2Y: 0.91%5Y: 0.00%10Y: 39.30%
Earnings Per Share (EPS)
TWO EPS CAGR:1Y: 0.00%2Y: 3.43%5Y: 0.00%10Y: 0.00%
Net Income
TWO Net Income CAGR:1Y: 0.00%2Y: 5.11%5Y: 0.00%10Y: 0.00%
EBITDA
TWO EBITDA CAGR:1Y: 0.00%2Y: -44.84%5Y: 0.00%10Y: 11.74%
Free Cash Flow
TWO Free Cash Flow CAGR:1Y: 2,378.06%2Y: 16.67%5Y: 61.50%10Y: 0.00%
Free Cash Flow / Share
TWO Free Cash Flow / Share CAGR:1Y: 2,355.01%2Y: 15.83%5Y: 48.23%10Y: 0.00%
Operating Income
TWO Operating Income CAGR:1Y: -13.65%2Y: -44.84%5Y: 0.00%10Y: 11.90%
Gross Profit
TWO Gross Profit CAGR:1Y: -2.87%2Y: -26.09%5Y: 0.00%10Y: 0.00%
Shares Outstanding
TWO Shares Outstanding CAGR:1Y: 3.13%2Y: 1.64%5Y: 9.42%10Y: 9.47%
Share Buybacks
TWO Share Buybacks CAGR:1Y: 0.00%2Y: 0.00%5Y: 0.00%10Y: 0.00%
Stock-Based Comp
TWO Stock-Based Comp CAGR:1Y: 0.00%2Y: 0.00%5Y: 0.00%10Y: 0.00%
Expenses
TWO Expenses CAGR:1Y: -98.08%2Y: -27.57%5Y: -61.06%10Y: -29.32%
Revenue vs Net Income
EPS vs FCF / Share
EPS vs PE Ratio
FCF vs FCF / Share
FCF vs Stock Based Comp
Cash & Debt

Revenue, EPS, Net Income & Ebitda - Estimates VS Actual:

REVENUE: Actual + Estimates
TWO Actual Revenue CAGR:1Y: 78.09%2Y: 0.91%5Y: 0.00%10Y: 39.30%
EPS: Actual + Estimates
TWO Actual EPS CAGR:1Y: 0.00%2Y: 3.43%5Y: 0.00%10Y: 0.00%
NET INCOME: Actual + Estimates
TWO Actual Net Income CAGR:1Y: 0.00%2Y: 5.11%5Y: 0.00%10Y: 0.00%
EBITDA: Actual + Estimates
TWO Actual EBITDA CAGR:1Y: 0.00%2Y: -44.84%5Y: 0.00%10Y: 11.74%

Ratios, Profit Margins & Return on Capital:

Net Profit Margin
TWO Net Profit Margin CAGR:1Y: 0.00%2Y: 4.18%5Y: -21.46%10Y: 0.00%
Gross Profit Margin
TWO Gross Profit Margin CAGR:1Y: -45.46%2Y: -26.75%5Y: -13.34%10Y: 0.00%
Price to Earnings
TWO Price to Earnings CAGR:1Y: 0.00%2Y: 5.16%5Y: 0.00%10Y: 0.00%
Price To Sales Ratio
TWO Price To Sales Ratio CAGR:1Y: -34.69%2Y: -2.43%5Y: 0.00%10Y: -32.56%
Return on Capital Employed
TWO Return on Capital Employed CAGR:1Y: -34.09%2Y: -40.76%5Y: 0.00%10Y: 34.94%
Return on Invested Capital
TWO Return on Invested Capital CAGR:1Y: -0.51%2Y: -33.43%5Y: 0.00%10Y: 27.41%

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TWO Dividends Info:

Annual Dividend: $1.36
Forward Yield: 11.17%
Ex-Dividend Date: 2026-07-02
Lifetime Dividends / Share: $92.63

Projected Future Returns & Dividends for TWO

Based on past 10-year performance, here are TWO growth metrics:

Share price CAGR of -14.55%
Dividend CAGR of -13.88%

Using TWO CAGR metrics, we can estimate that your initial $10000 investment, over the next 10 years, should grow as follows:

TWO (DRIP)TWO - No DRIP
Current Price$12.18$12.18
Start Shares821.02821.02
Start Value$10,000$10,000
  
After 10 years:
Final Share Count2,469.64821.02
Dividends Payment$0.07$0.07
Annual Dividends$697$232
Yield on cost6.97%2.32%
Share Price$2.53$2.53
Total Dividends$9,503$6,081
Final Value$6,240$8,155

Estimated Future Value + Dividends - TWO

NOTE: Above numbers are our estimate based on TWO's Dividend and Price CAGR over past 10 years. These numbers should only be considered as "potential future returns"! DRIP assumes reinvesting dividends; No-DRIP assumes collecting dividends as cash.

We cannot guarantee that your actual returns will meet these estimates.

Company Info

Two Harbors Investment Corp. (TWO) had its IPO on 2009-10-30, and is traded on NYSE stock exchange.

Two Harbors Investment Corp. (TWO) operates as a Real Estate Investment Trust (REIT) with a strategic focus on the U.S. mortgage market. The firm is actively involved in acquiring, funding, and overseeing a diverse portfolio of financial instruments, primarily residential mortgage-backed securities (RMBS). This portfolio encompasses both agency RMBS – which are often backed by fixed-rate, adjustable-rate, and hybrid adjustable-rate mortgage loans – as well as non-agency securities, mortgage servicing rights (MSRs), and other related financial assets. Being structured as a REIT grants the company specific federal income tax advantages, contingent on distributing a minimum of 90% of its annual taxable earnings to its shareholders. Established in 2009, Two Harbors Investment Corp. maintains its corporate headquarters in Minnetonka, Minnesota.

TWO website: https://www.twoinv.com


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DCF Model — TWO

Value from:
Pay up to today
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vs current price $12.18
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Cash flow & implied price by year

FCF is negative or missing for this company (common for banks) — the model discounts EPS instead.

EPS is negative or missing for this company — Simple mode uses free cash flow per share instead.

Free cash flow today
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grows for the next years
Then mature
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every future dollar counted back to today
Pile of today-dollars
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÷ shares
Implied price path
YearFCFImplied price
Sensitivity — fair value: growth ↓ × target return →