Two Harbors Investment Corp. (TWO) quarterly balance sheet — complete assets, liabilities & equity history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Total Assets | 10.53B | 10.86B | 10.87B | 12.96B | 13.68B | 12.2B | 12.89B | 12.85B | 13.16B | 13.14B | 13.92B | 14.01B | 13.94B | 13.47B | 14.7B | 13.74B | 12.27B | 12.11B | 11.48B | 12.5B |
| Asset Growth % | -23.02% | -11.02% | -15.68% | 0.85% | 3.96% | -7.11% | -7.39% | -8.28% | -5.58% | -2.43% | -5.3% | 1.98% | 13.58% | 11.16% | 27.96% | 9.88% | -23.25% | -37.93% | -44.22% | -41.8% |
| Real Estate & Other Assets | -9.13B | -2.43B | 828.23M | -11.34B | 1.34B | 974.92M | 833.25M | -11.1B | -11.27B | -11.38B | -12.04B | -12.24B | -12.03B | -10.76B | -12.5B | -12.02B | -10.06B | -9.35B | -8.88B | -9.86B |
| PP&E (Net) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investment Securities | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Total Current Assets | 7.01B | 7.39B | 915.47M | 0 | 737.25M | 8.22B | 734.01M | 0 | 0 | 1.09B | 9.83B | 9.95B | 10.03B | 8.75B | 10.46B | 9.52B | 7.92B | 8.51B | 1.45B | 9.24B |
| Cash & Equivalents | 476.31M | 842.32M | 770.53M | 657.82M | 573.88M | 504.61M | 522.58M | 624.2M | 666.24M | 729.73M | 644.18M | 699.08M | 708.21M | 683.48M | 732.48M | 511.89M | 620.21M | 1.15B | 1.08B | 1.28B |
| Receivables | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Other Current Assets | 0 | 15.6M | 116.39M | -980.43M | 123.84M | 313.03M | 89.13M | -1.03B | -1.25B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 2.38B | 2.42B | 2.63B | 3.02B | 2.96B | 2.99B | 2.88B | 3.07B | 3.08B | 3.05B | 3.21B | 3.27B | 3.07B | 2.98B | 3.02B | 3.23B | 3.09B | 2.19B | 2.21B | 2.02B |
| Total Liabilities | 8.8B | 9.07B | 9.09B | 11.07B | 11.54B | 10.08B | 10.72B | 10.65B | 10.92B | 10.94B | 11.8B | 11.79B | 11.69B | 11.28B | 12.55B | 11.25B | 9.64B | 9.37B | 8.75B | 10.02B |
| Total Debt | 8.29B | 8.56B | 8.43B | 1.39B | 10.94B | 9.09B | 10.03B | 1.54B | 1.92B | 1.89B | 1.97B | 2.12B | 1.97B | 1.8B | 1.81B | 1.5B | 1.25B | 1.24B | 1.24B | 1.35B |
| Net Debt | 7.81B | 7.72B | 7.66B | 735.14M | 10.37B | 8.58B | 9.5B | 914.48M | 1.26B | 1.16B | 1.33B | 1.42B | 1.27B | 1.12B | 1.08B | 992.97M | 629.02M | 88.51M | 165.29M | 72.21M |
| Long-Term Debt | 1.04B | 958.93M | 372.24M | 371.81M | 260.59M | 260.23M | 259.81M | 259.41M | 564.47M | 563.85M | 563.2M | 666.44M | 681.17M | 680.51M | 679.79M | 679.09M | 678.48M | 821.6M | 820.75M | 819.92M |
| Short-Term Borrowings | 7.25B | 7.6B | 8.06B | 1.02B | 10.68B | 8.83B | 9.77B | 1.28B | 1.36B | 1.33B | 1.41B | 1.46B | 1.29B | 1.12B | 1.13B | 825.76M | 570.76M | 420.76M | 420.76M | 533.52M |
| Capital Lease Obligations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Liabilities | 7.25B | 7.6B | 8.54B | 9.51B | 11.11B | 9.62B | 10.29B | 0 | 0 | 1.47B | 1.5B | 1.58B | 1.37B | 1.21B | 1.18B | 847.59M | 580.75M | 439.14M | 431.28M | 551.48M |
| Accounts Payable | 0 | 81.91M | 45.23M | 80.17M | 75.35M | 85.99M | 76.87M | 85.68M | 79.99M | 141.77M | 90.71M | 120.5M | 74.92M | 94.03M | 48.59M | 21.83M | 9.99M | 18.38M | 10.52M | 17.96M |
| Deferred Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Liabilities | 8.8B | 514.11M | 179.13M | -371.81M | 168.75M | 200.96M | 171.33M | -259.41M | -564.47M | -563.85M | -563.2M | -666.44M | -681.17M | -680.51M | -679.79M | -679.09M | -678.48M | -821.6M | -820.75M | -819.92M |
| Total Equity | 1.73B | 1.79B | 1.77B | 1.89B | 2.15B | 2.12B | 2.17B | 2.2B | 2.24B | 2.2B | 2.12B | 2.22B | 2.25B | 2.18B | 2.14B | 2.48B | 2.63B | 2.74B | 2.73B | 2.48B |
| Equity Growth % | -19.34% | -15.76% | -18.33% | -14.09% | -4.16% | -3.67% | 2.46% | -0.93% | -0.25% | 0.91% | -1.27% | -10.78% | -14.59% | -20.42% | -21.59% | -0.02% | -3.36% | -11.17% | -9.43% | -12.41% |
| Shareholders Equity | 1.73B | 1.79B | 1.77B | 1.89B | 2.15B | 2.12B | 2.17B | 2.2B | 2.24B | 2.2B | 2.12B | 2.22B | 2.25B | 2.18B | 2.14B | 2.48B | 2.63B | 2.74B | 2.73B | 2.48B |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Common Stock | 1.05M | 1.05M | 1.04M | 1.04M | 1.04M | 1.04M | 1.04M | 1.04M | 1.03M | 1.03M | 962K | 962K | 967K | 864K | 864K | 3.44M | 3.44M | 3.44M | 3.14M | 2.74M |
| Additional Paid-in Capital | 5.95B | 5.95B | 5.95B | 5.95B | 5.94B | 5.94B | 5.93B | 5.93B | 5.93B | 5.93B | 5.83B | 5.82B | 5.83B | 5.65B | 5.64B | 5.63B | 5.63B | 5.63B | 5.43B | 5.17B |
| Retained Earnings | -4.78B | -4.76B | -4.73B | -4.55B | -4.24B | -4.1B | -4.31B | -4.02B | -4.01B | -4.16B | -3.67B | -3.92B | -4.06B | -3.82B | -3.5B | -3.71B | -3.56B | -3.77B | -3.7B | -3.7B |
| Preferred Stock | 601.47M | 601.47M | 601.47M | 601.47M | 601.47M | 601.47M | 601.47M | 601.47M | 601.47M | 613.21M | 618.58M | 618.58M | 631M | 631M | 702.55M | 702.55M | 702.55M | 702.55M | 702.55M | 702.55M |
| Return on Assets (ROA) | 0.3% | 0.11% | -1.07% | -1.94% | -0.61% | 2.21% | -1.85% | 0.43% | 1.55% | -3.2% | 2.19% | 1.41% | -1.29% | -1.92% | 1.95% | -0.56% | 2.34% | -0.01% | 0.55% | -0.83% |
| Return on Equity (ROE) | 1.83% | 0.66% | -6.99% | -12.85% | -3.7% | 12.9% | -10.93% | 2.54% | 9.16% | -20.05% | 14.13% | 8.85% | -7.98% | -12.49% | 12% | -2.83% | 10.62% | -0.05% | 2.54% | -4.53% |
| Debt / Assets | 78.66% | 78.84% | 77.59% | 10.75% | 79.97% | 74.46% | 77.79% | 11.97% | 14.6% | 14.41% | 14.18% | 15.15% | 14.16% | 13.36% | 12.32% | 10.95% | 10.18% | 10.26% | 10.81% | 10.83% |
| Debt / Equity | 4.79x | 4.79x | 4.76x | 0.74x | 5.10x | 4.28x | 4.62x | 0.70x | 0.86x | 0.86x | 0.93x | 0.96x | 0.88x | 0.82x | 0.84x | 0.61x | 0.48x | 0.45x | 0.45x | 0.54x |
| Net Debt / EBITDA | 100.75x | 62.91x | - | - | 195.30x | 19.23x | - | 4.07x | 3.34x | - | 2.58x | 3.78x | - | - | 2.82x | - | 1.77x | 4.22x | 1.87x | - |
| Book Value per Share | 16.00 | 17.15 | 17.02 | 18.12 | 20.65 | 18.99 | 20.98 | 21.13 | 19.83 | 22.60 | 20.04 | 20.89 | 24.26 | 25.27 | 22.31 | 28.86 | 27.33 | 32.75 | 31.55 | 36.30 |