TWO-PC
Two Harbors Investment Corp.
NYSEUSDEQUITY
Real Estate
DELAYED
Neutral
+6/100
Last price
25.39
▲ 0.03 (0.10%)
MARKET · —
Price
Chart style
Interval
Intraday intervals only cover recent history. The site picks the finest interval the range allows.
Overlays
Session levels
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Both series are rebased to 0% at the left edge, so the lines show relative performance rather than price.
Tool
1D
—
H —
L —
Range —
Vol —
vs
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Open
—
Prev close
25.37
Day high
25.39
Day low
25.37
Volume
23.53K
Market cap
—
P/E (TTM)
6.95
52W range
23.25 – 25.52
Trailing performance
Returnvs SPY
1W
+0.10%
-1.8%
1M
+0.47%
-1.0%
3M
+1.76%
-1.6%
6M
+2.25%
-12.7%
YTD
+2.79%
-11.2%
1Y
+4.91%
-10.8%
3Y
+22.36%
-59.5%
5Y
—
—
Price return only. Dividends are not reinvested, so total return on a dividend payer will be higher than shown.
Unusual options activity
Nothing crossed the thresholds in the expiries we scanned.
That is the normal state — most contracts trade well inside their existing open interest.
That is the normal state — most contracts trade well inside their existing open interest.
Contracts trading at or above their open interest, ranked by notional and where the print landed.
Free account
5 more panels on TWO-PC open with an account.
Options chains and analytics, valuation ratios, insider filings, analyst targets and ownership. No card, no trial, nothing to cancel.
Insider net activity
Net shares
0
Net selling
Buy transactions
0
0 shares
Sell transactions
0
—
Net transactions
0
Buys less sells
Sell : buy shares
—
Not enough filings
Insider-held shares
0
Total on file
Fundamentals
Market cap—
Enterprise value$9.04B
Revenue (TTM)$640.21M
Gross profit$628.01M
EBITDA—
Net income$-75.11M
EPS (TTM)$3.65
Free cash flow—
Total cash$849.00M
Total debt$6.62B
Book value / share$10.88
Shares outstanding248.07M
Float105.13M
Short % of float—
Dividend yield9.14%
Beta (5Y)1.06
Valuation & profitability ratios
Trailing P/E6.95
Forward P/E—
PEG ratio—
Price / sales—
Price / book2.33
EV / revenue14.12
EV / EBITDA—
Gross margin98.09%
Operating margin48.13%
Profit margin-3.39%
Return on equity-1.19%
Return on assets-0.20%
Debt / equity379.41
Current ratio0.22
Fourteen ratios including P/E, PEG, EV/EBITDA, margins and return on equity.
Financial statements
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Total revenue | $115.06M | $510.75M | $31.79M | $407.18M | -77.5% |
| Operating revenue | $115.06M | $510.75M | $31.79M | $407.18M | -77.5% |
| Selling, general & admin | $95.33M | $89.75M | $52.87M | $40.72M | +6.2% |
| Pre-tax income | -$445.43M | $344.75M | -$83.39M | $324.45M | -229.2% |
| Tax provision | $8.87M | $46.59M | $22.98M | $104.21M | -81.0% |
| Net income | -$454.30M | $298.17M | -$106.37M | $220.24M | -252.4% |
| Net income to common | -$508.40M | $249.98M | -$153.22M | $185.58M | -303.4% |
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Cash & equivalents | $842.32M | $504.61M | $729.73M | $683.48M | +66.9% |
| Accounts receivable | $29.23M | $33.33M | $35.34M | $36.02M | -12.3% |
| Goodwill & intangibles | $2.42B | $2.99B | $3.05B | $2.98B | -19.1% |
| Total assets | $10.86B | $12.20B | $13.14B | $13.47B | -11.0% |
| Current debt | $928.78M | $1.02B | $1.33B | $1.12B | -9.1% |
| Long-term debt | $372.87M | $260.23M | $563.85M | $680.51M | +43.3% |
| Total debt | $1.30B | $1.28B | $1.89B | $1.80B | +1.5% |
| Total liabilities | $9.07B | $10.08B | $10.94B | $11.28B | -10.0% |
| Retained earnings | -$4.76B | -$4.10B | -$4.16B | -$3.82B | -16.3% |
| Shareholder equity | $1.79B | $2.12B | $2.20B | $2.18B | -15.8% |
| Net tangible assets | -$633.98M | -$871.76M | -$848.63M | -$801.41M | +27.3% |
| Shares issued | 104.81M | 103.68M | 103.21M | 86.43M | +1.1% |
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Net income | -$454.30M | $298.17M | -$106.37M | $220.24M | -252.4% |
| Stock-based compensation | $13.35M | $10.95M | $10.98M | $11.63M | +22.0% |
| Change in working capital | $22.36M | -$78.12M | $57.47M | $151.27M | +128.6% |
| Operating cash flow | $88.92M | $201.00M | $343.51M | $623.40M | -55.8% |
| Capital expenditure | -$103.99M | -$114.12M | -$312.64M | -$629.81M | +8.9% |
| Investing cash flow | $911.61M | $895.28M | -$195.78M | -$2.75B | +1.8% |
| Share buybacks | $0 | -$11.10M | -$21.87M | -$51.40M | +100.0% |
| Dividends paid | -$222.39M | -$235.05M | -$246.60M | -$290.36M | +5.4% |
| Financing cash flow | -$756.22M | -$1.07B | -$479.40M | $1.17B | +29.6% |
| Free cash flow | -$15.07M | $86.88M | $30.87M | -$6.41M | -117.3% |
| End cash position | $1.06B | $817.64M | $794.83M | $1.13B | +29.9% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | YoY |
|---|---|---|---|---|---|---|
| Total revenue | $119.59M | $85.80M | $68.55M | $92.71M | -$14.67M | +39.4% |
| Operating revenue | $119.59M | $85.80M | $68.55M | $92.71M | -$14.67M | +39.4% |
| Selling, general & admin | $20.66M | $26.70M | $25.96M | $21.31M | $21.47M | -22.6% |
| Pre-tax income | $68.20M | $36.35M | $17.29M | -$126.72M | -$257.38M | +87.6% |
| Tax provision | $5.95M | $4.07M | $5.58M | $1.20M | $1.66M | +46.3% |
| Net income | $62.24M | $32.28M | $11.72M | -$127.92M | -$259.04M | +92.8% |
| Net income to common | $48.83M | $19.04M | -$1.59M | -$141.54M | -$272.62M | +156.4% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | YoY |
|---|---|---|---|---|---|---|
| Cash & equivalents | $642.69M | $476.31M | $842.32M | $770.53M | $657.82M | +34.9% |
| Accounts receivable | $23.14M | $29.92M | $29.23M | $28.32M | $36.77M | -22.6% |
| Goodwill & intangibles | $2.34B | $2.38B | $2.42B | $2.63B | $3.02B | -1.9% |
| Total assets | $8.83B | $10.53B | $10.86B | $10.87B | $12.96B | -16.2% |
| Current debt | $867.10M | $929.57M | $928.78M | $953.82M | $1.02B | -6.7% |
| Long-term debt | $111.35M | $111.20M | $372.87M | $372.24M | $371.81M | +0.1% |
| Total debt | $978.45M | $1.04B | $1.30B | $1.33B | $1.39B | -6.0% |
| Total liabilities | $7.09B | $8.80B | $9.07B | $9.09B | $11.07B | -19.5% |
| Retained earnings | -$4.77B | -$4.78B | -$4.76B | -$4.73B | -$4.55B | +0.3% |
| Shareholder equity | $1.74B | $1.73B | $1.79B | $1.77B | $1.89B | +0.8% |
| Net tangible assets | -$591.44M | -$649.40M | -$633.98M | -$854.99M | -$1.13B | +8.9% |
| Shares issued | 105.13M | 105.04M | 104.81M | 104.16M | 104.13M | +0.1% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | YoY |
|---|---|---|---|---|---|---|---|
| Net income | $62.24M | $32.28M | $11.72M | -$127.92M | -$259.04M | — | +92.8% |
| Stock-based compensation | $1.44M | $4.42M | $3.35M | $1.54M | $1.93M | — | -67.5% |
| Change in working capital | $40.49M | -$5.77M | -$532.00K | -$21.31M | $34.22M | — | +801.7% |
| Operating cash flow | $192.74M | $56.58M | $117.13M | -$239.24M | $99.11M | — | +240.7% |
| Capital expenditure | -$1.76M | -$985.00K | -$2.42M | -$8.65M | -$91.41M | — | -78.6% |
| Investing cash flow | $1.63B | -$38.14M | -$17.23M | $2.13B | $829.22M | — | +4,370.6% |
| Share buybacks | — | — | $0 | $0 | $0 | $0 | — |
| Dividends paid | -$48.90M | -$48.93M | -$49.03M | -$54.20M | -$60.40M | — | +0.1% |
| Financing cash flow | -$1.72B | -$320.24M | $75.13M | -$1.80B | -$827.76M | — | -436.1% |
| Free cash flow | $190.98M | $55.59M | $114.71M | -$247.89M | $7.71M | — | +243.5% |
| End cash position | $865.07M | $760.15M | $1.06B | $886.92M | $798.30M | — | +13.8% |
Options analytics
Put / call volume
—
—
Put / call open interest
—
Positioning, not flow
Max pain
—
—
ATM implied vol
—
Nearest strike to spot
Skew (10% OTM)
—
—
Call volume
0
Contracts, this expiry
Put volume
0
Contracts, this expiry
Heaviest call OI
—
—
Heaviest put OI
—
—
Max pain is the strike at which the largest dollar value of open contracts expires worthless. It describes current positioning; it is not a forecast and it moves as open interest changes.
Put/call ratios, max pain, implied volatility skew and where open interest is concentrated.
Earnings
Forward consensus
| Period | EPS | Analysts | Revenue | Growth |
|---|---|---|---|---|
| Current quarter | — | — | $0 | — |
| Next quarter | — | — | $0 | — |
| Current year | — | — | $0 | — |
| Next year | — | — | $0 | — |
Analyst targets & ownership
Mean target—
High target—
Low target—
Implied upside—
Analyst count—
ConsensusNONE
Strong buy / Buy— / —
Hold—
Sell / Strong sell— / —
Held by insiders0.00%
Held by institutions30.42%
Institutions holding6
Price targets, consensus spread, insider and institutional ownership.
Moving averages & technicals
SMA 10
25.37
+0.09% from price
SMA 20
25.34
+0.20% from price
SMA 50
25.21
+0.73% from price
SMA 100
25.06
+1.32% from price
SMA 200
24.87
+2.08% from price
EMA 12
25.36
+0.12% from price
EMA 26
25.31
+0.31% from price
EMA 50
25.23
+0.64% from price
RSI (14)
80.6
Overbought
MACD (12,26,9)
0.05
Hist -0.00
ATR (14)
0.01
0.05% of price
Realised vol 30D
0.9%
Annualised
Bollinger upper
25.41
20, 2σ
Bollinger lower
25.27
20, 2σ
50 / 200 cross
Golden
25.21 vs 24.87
Trend bias
Above 200
+2.08%
Options chain
Calls
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Puts
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Every listed expiry, both sides of the book, with volume, open interest and implied volatility.
Risk profile
Beta vs SPY
-0.03
Less volatile than market
Correlation to SPY
-0.05
Largely independent
Realised vol 30D
0.9%
Annualised
Market vol 1Y
13.0%
SPY, annualised
Max drawdown 1Y
-6.7%
Peak to trough
Max drawdown 5Y
-36.2%
Peak to trough
ATR 14
0.01
0.05% of price
Beta (reported)
1.06
5Y monthly, from filing
Short interest
Shares short
5.11K
Prior 645
Change vs prior
+692.9%
Shorts adding
% of float
—
—
% of shares out
—
Against total outstanding
Days to cover
0.0
Liquid
Float
105.13M
Freely tradeable shares
Exchanges publish short interest twice a month with a settlement lag, so this is roughly two weeks behind. Days to cover divides shares short by average daily volume — it estimates how long covering would take, not whether it will happen.
Dividends & splits
Forward rate$2.32 / yr
Forward yield9.14%
5-year avg yield8.40%
Payout ratio—
Ex-dividend dateJul 10, 2026
Next pay dateJul 27, 2026
Last split—
Split date—
PRIVATE STRATEGY · BY QUALIFICATION
The same data. A different seat.
The research you are reading is the input layer for a discretionary options program we run for a small number of qualified investors. Minimum $1,000,000.