AGNC
AGNC Investment Corp.
REIT - Mortgage
Market Cap$9.68B
5Y Perf.-16.6%
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Stock Comparison
AGNC vs TWO
Revenue, margins, valuation, and 5-year total return — side by side.
TWO
Two Harbors Investment Corp.
REIT - Mortgage
Market Cap$1.29B
5Y Perf.-32.2%
AGNC vs TWO — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | AGNC | TWO |
|---|---|---|
| Industry | REIT - Mortgage | REIT - Mortgage |
| Market Cap | $9.68B | $1.29B |
| Revenue (TTM) | $3.46B | $765M |
| Net Income (TTM) | $838M | $-343M |
| Gross Margin | 100.0% | 88.0% |
| Operating Margin | 107.1% | 57.3% |
| Forward P/E | 6.9x | 11.9x |
| Total Debt | $64M | $8.56B |
| Cash & Equiv. | $505M | $842M |
AGNC vs TWO — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
AGNC
TWO
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| AGNC Investment Cor… (AGNC) | 100 | 83.4 | -16.6% |
| Two Harbors Investm… (TWO) | 100 | 67.8 | -32.2% |
Price return only. Dividends and distributions are not included.
Quick Verdict: AGNC vs TWO
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: AGNC leads in 6 of 7 categories, making it the strongest pick for growth and revenue expansion and valuation and capital efficiency. Two Harbors Investment Corp. is the stronger pick specifically for capital preservation and lower volatility. As sector peers, any of these can serve as alternatives in the same allocation.
AGNC
AGNC Investment Corp.
The Real Estate Income Play
AGNC carries the broadest edge in this set and is the clearest fit for income & stability and growth exposure.
- Dividend streak 0 yrs, beta 0.74, yield 14.6%
- Rev growth 384.7%, EPS growth 17.6%, 3Y rev CAGR 26.4%
- 47.8% 10Y total return vs TWO's -5.8%
Best for: income & stability and growth exposure
TWO
Two Harbors Investment Corp.
The Real Estate Income Play
TWO is the clearest fit if your priority is sleep-well-at-night and defensive.
- Lower volatility, beta 0.49, current ratio 0.13x
- Beta 0.49, yield 13.4%, current ratio 0.13x
- Beta 0.49 vs AGNC's 0.74
Best for: sleep-well-at-night and defensive
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | AGNC | 384.7% FFO/revenue growth vs TWO's -28.4% |
| Value | AGNC | Lower P/E (6.9x vs 11.9x) |
| Quality / Margins | AGNC | 24.2% margin vs TWO's -44.8% |
| Stability / Safety | TWO | Beta 0.49 vs AGNC's 0.74 |
| Dividends | AGNC | 14.6% yield, vs TWO's 13.4% |
| Momentum (1Y) | AGNC | +40.9% vs TWO's +18.1% |
| Efficiency (ROA) | AGNC | 0.8% ROA vs TWO's -3.0%, ROIC 34.0% vs 3.1% |
AGNC vs TWO — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLAGNCLAGGINGTWO
TWOTwo Harbors Investmen…
0leads
AGNCAGNC Investment Corp.
4leads
6 Total Categories
CATEGORYLEADERvs TWOMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
AGNC5/6
Valuation MetricsMultiples, price ratios, and targets
Tied
—
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
AGNC8/9
Total Returns1Y, 3Y, 5Y total returns with dividends
AGNC5/6
Risk & VolatilityBeta, volatility, and downside exposure
Tied
—
Analyst OutlookRatings, price targets, and dividends
AGNC1/1
Income & Cash Flow (Last 12 Months)
AGNC leads this category, winning 5 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
AGNC is the larger business by revenue, generating $3.5B annually — 4.5x TWO's $765M. AGNC is the more profitable business, keeping 24.2% of every revenue dollar as net income compared to TWO's -44.8%.
| Metric | AGNCAGNC Investment C… | TWOTwo Harbors Inves… |
|---|---|---|
| RevenueTrailing 12 months | $3.5B | $765M |
| EBITDAEarnings before interest/tax | $3.7B | $70M |
| Net IncomeAfter-tax profit | $838M | -$343M |
| Free Cash FlowCash after capex | $604M | -$66M |
| Gross MarginGross profit ÷ Revenue | +100.0% | +88.0% |
| Operating MarginEBIT ÷ Revenue | +107.1% | +57.3% |
| Net MarginNet income ÷ Revenue | +24.2% | -44.8% |
| FCF MarginFCF ÷ Revenue | +17.5% | -8.7% |
| Rev. Growth (YoY)Latest quarter vs prior year | +2.5% | +3.2% |
| EPS Growth (YoY)Latest quarter vs prior year | +84.6% | +120.2% |
AGNC leads this category, winning 5 of 6 comparable metrics.
Valuation Metrics
Evenly matched — AGNC and TWO each lead in 3 of 6 comparable metrics.
Valuation Metrics
On an enterprise value basis, AGNC's 2.4x EV/EBITDA is more attractive than TWO's 197.8x.
| Metric | AGNCAGNC Investment C… | TWOTwo Harbors Inves… |
|---|---|---|
| Market CapShares × price | $9.7B | $1.3B |
| Enterprise ValueMkt cap + debt − cash | $9.2B | $9.0B |
| Trailing P/EPrice ÷ TTM EPS | 11.60x | -2.81x |
| Forward P/EPrice ÷ next-FY EPS est. | 6.92x | 11.85x |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | 2.44x | 197.77x |
| Price / SalesMarket cap ÷ Revenue | 1.99x | 2.12x |
| Price / BookPrice ÷ Book value/share | 0.87x | 0.71x |
| Price / FCFMarket cap ÷ FCF | 112.59x | 14.47x |
Evenly matched — AGNC and TWO each lead in 3 of 6 comparable metrics.
Profitability & Efficiency
AGNC leads this category, winning 8 of 9 comparable metrics.
Profitability & Efficiency
AGNC delivers a 7.3% return on equity — every $100 of shareholder capital generates $7 in annual profit, vs $-19 for TWO. AGNC carries lower financial leverage with a 0.01x debt-to-equity ratio, signaling a more conservative balance sheet compared to TWO's 4.79x. On the Piotroski fundamental quality scale (0–9), AGNC scores 5/9 vs TWO's 3/9, reflecting solid financial health.
| Metric | AGNCAGNC Investment C… | TWOTwo Harbors Inves… |
|---|---|---|
| ROE (TTM)Return on equity | +7.3% | -19.1% |
| ROA (TTM)Return on assets | +0.8% | -3.0% |
| ROICReturn on invested capital | +34.0% | +3.1% |
| ROCEReturn on capital employed | +4.9% | +16.9% |
| Piotroski ScoreFundamental quality 0–9 | 5 | 3 |
| Debt / EquityFinancial leverage | 0.01x | 4.79x |
| Net DebtTotal debt minus cash | -$441M | $7.7B |
| Cash & Equiv.Liquid assets | $505M | $842M |
| Total DebtShort + long-term debt | $64M | $8.6B |
| Interest CoverageEBIT ÷ Interest expense | 1.32x | 0.09x |
AGNC leads this category, winning 8 of 9 comparable metrics.
Total Returns (Dividends Reinvested)
AGNC leads this category, winning 5 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in AGNC five years ago would be worth $9,879 today (with dividends reinvested), compared to $8,214 for TWO. Over the past 12 months, AGNC leads with a +40.9% total return vs TWO's +18.1%. The 3-year compound annual growth rate (CAGR) favors AGNC at 16.7% vs TWO's 13.4% — a key indicator of consistent wealth creation.
| Metric | AGNCAGNC Investment C… | TWOTwo Harbors Inves… |
|---|---|---|
| YTD ReturnYear-to-date | +3.1% | +22.2% |
| 1-Year ReturnPast 12 months | +40.9% | +18.1% |
| 3-Year ReturnCumulative with dividends | +59.1% | +45.7% |
| 5-Year ReturnCumulative with dividends | -1.2% | -17.9% |
| 10-Year ReturnCumulative with dividends | +47.8% | -5.8% |
| CAGR (3Y)Annualised 3-year return | +16.7% | +13.4% |
AGNC leads this category, winning 5 of 6 comparable metrics.
Risk & Volatility
Evenly matched — AGNC and TWO each lead in 1 of 2 comparable metrics.
Risk & Volatility
TWO is the less volatile stock with a 0.49 beta — it tends to amplify market swings less than AGNC's 0.74 beta. A beta below 1.0 means the stock typically moves less than the S&P 500.
| Metric | AGNCAGNC Investment C… | TWOTwo Harbors Inves… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.74x | 0.49x |
| 52-Week HighHighest price in past year | $12.19 | $14.17 |
| 52-Week LowLowest price in past year | $8.61 | $8.78 |
| % of 52W HighCurrent price vs 52-week peak | +88.5% | +86.5% |
| RSI (14)Momentum oscillator 0–100 | 50.0 | 71.0 |
| Avg Volume (50D)Average daily shares traded | 18.4M | 3.7M |
Evenly matched — AGNC and TWO each lead in 1 of 2 comparable metrics.
Analyst Outlook
AGNC leads this category, winning 1 of 1 comparable metric.
Analyst Outlook
Wall Street rates AGNC as "Hold" and TWO as "Hold". Consensus price targets imply 14.3% upside for TWO (target: $14) vs 3.2% for AGNC (target: $11). For income investors, AGNC offers the higher dividend yield at 14.63% vs TWO's 13.39%.
| Metric | AGNCAGNC Investment C… | TWOTwo Harbors Inves… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Hold | Hold |
| Price TargetConsensus 12-month target | $11.13 | $14.00 |
| # AnalystsCovering analysts | 35 | 22 |
| Dividend YieldAnnual dividend ÷ price | +14.6% | +13.4% |
| Dividend StreakConsecutive years of raises | 0 | 0 |
| Dividend / ShareAnnual DPS | $1.58 | $1.64 |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | +0.1% |
AGNC leads this category, winning 1 of 1 comparable metric.
Key Takeaway
AGNC leads in 4 of 6 categories — strongest in Income & Cash Flow and Profitability & Efficiency. 2 categories are tied.
Best OverallAGNC Investment Corp. (AGNC)Leads 4 of 6 categories
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AGNC vs TWO: Frequently Asked Questions
10 questions · data-driven answers · updated daily
01Is AGNC or TWO a better buy right now?
For growth investors, AGNC Investment Corp.
(AGNC) is the stronger pick with 384. 7% revenue growth year-over-year, versus -28. 4% for Two Harbors Investment Corp. (TWO). AGNC Investment Corp. (AGNC) offers the better valuation at 11. 6x trailing P/E (6. 9x forward), making it the more compelling value choice. Analysts rate AGNC Investment Corp. (AGNC) a "Hold" — based on 35 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — AGNC or TWO?
On forward P/E, AGNC Investment Corp.
is actually cheaper at 6. 9x.
03Which is the better long-term investment — AGNC or TWO?
Over the past 5 years, AGNC Investment Corp.
(AGNC) delivered a total return of -1. 2%, compared to -17. 9% for Two Harbors Investment Corp. (TWO). Over 10 years, the gap is even starker: AGNC returned +47. 8% versus TWO's -5. 8%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — AGNC or TWO?
By beta (market sensitivity over 5 years), Two Harbors Investment Corp.
(TWO) is the lower-risk stock at 0. 49β versus AGNC Investment Corp. 's 0. 74β — meaning AGNC is approximately 51% more volatile than TWO relative to the S&P 500. On balance sheet safety, AGNC Investment Corp. (AGNC) carries a lower debt/equity ratio of 1% versus 5% for Two Harbors Investment Corp. — giving it more financial flexibility in a downturn.
05Which is growing faster — AGNC or TWO?
By revenue growth (latest reported year), AGNC Investment Corp.
(AGNC) is pulling ahead at 384. 7% versus -28. 4% for Two Harbors Investment Corp. (TWO). On earnings-per-share growth, the picture is similar: AGNC Investment Corp. grew EPS 1760% year-over-year, compared to -284. 0% for Two Harbors Investment Corp.. Over a 3-year CAGR, TWO leads at 263. 5% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — AGNC or TWO?
AGNC Investment Corp.
(AGNC) is the more profitable company, earning 17. 7% net margin versus -75. 0% for Two Harbors Investment Corp. — meaning it keeps 17. 7% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: AGNC leads at 79. 6% versus 68. 7% for TWO. At the gross margin level — before operating expenses — AGNC leads at 100. 0%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is AGNC or TWO more undervalued right now?
On forward earnings alone, AGNC Investment Corp.
(AGNC) trades at 6. 9x forward P/E versus 11. 9x for Two Harbors Investment Corp. — 4. 9x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for TWO: 14. 3% to $14. 00.
08Which pays a better dividend — AGNC or TWO?
All stocks in this comparison pay dividends.
AGNC Investment Corp. (AGNC) offers the highest yield at 14. 6%, versus 13. 4% for Two Harbors Investment Corp. (TWO).
09Is AGNC or TWO better for a retirement portfolio?
For long-horizon retirement investors, Two Harbors Investment Corp.
(TWO) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 49), 13. 4% yield). Both have compounded well over 10 years (TWO: -5. 8%, AGNC: +47. 8%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between AGNC and TWO?
Both stocks operate in the Real Estate sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
In terms of investment character: AGNC is a small-cap high-growth stock; TWO is a small-cap income-oriented stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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