Two Harbors Investment (TWO-PC) Price to Book (2017 - 2026)
Two Harbors Investment's Price to Book came in at 1.50 for Q2 2026, up 15.6% from 1.30 a year earlier and unchanged from the prior quarter.
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Analysis
Two Harbors Investment (TWO-PC) Price to Book (2017 - 2026) Analysis & Trends
For FY2025, Two Harbors Investment's Price to Book was 1.45, up 20.0% from FY2024.
- Price to Book has increased in each of the last three years.
- Going back by year, Price to Book was 1.21 in FY2024 (+15.3%), 1.05 in FY2023 (+41.4%), 0.74 in FY2022 (-76.8%) and 3.19 in FY2021 (+57.8%).
- The five-year range for quarterly Price to Book is 0.71 (Q3 2022) to 3.19 (Q4 2021).
- Year-over-year, Price to Book has increased for 12 consecutive quarters, with growth averaging 18.4% over the last eight quarters.
- The fastest year-over-year change in Price to Book over five years came in Q3 2021 (growth of 64.6%), and the weakest in Q4 2022 (a decline of 76.8%).
- Business Quant data shows TWO-PC's Price to Book at 1.50 (Q1 2026), 1.45 (Q4 2025) and 1.42 (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Rocket Companies | 43.26 Bn | 28.94 Bn | - |
| 2 | Orix | 42.40 Bn | 42.90 Bn | - |
| 3 | Royalty Pharma | 33.56 Bn | 33.47 Bn | - |
| 4 | Federal National Mortgage Association Fannie Mae | 24.47 Bn | 24.47 Bn | - |
| 5 | Affirm Holdings | 23.34 Bn | 17.03 Bn | - |
| 6 | Synchrony Financial | 23.06 Bn | -44.91 Bn | - |
| 7 | Royal Gold | 19.98 Bn | 19.21 Bn | 390.45 Mn |
| 8 | Annaly Capital Management | 14.18 Bn | 5.27 Bn | - |
| 9 | Ares Capital | 13.71 Bn | 11.15 Bn | - |
| 10 | Two Harbors Investment | 2.67 Bn | -62.52 Mn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 1.50 |
| Mar 31, 2026 | 1.50 |
| Dec 31, 2025 | 1.45 |
| Sep 30, 2025 | 1.42 |
| Jun 30, 2025 | 1.30 |
| Mar 31, 2025 | 1.21 |
| Dec 31, 2024 | 1.21 |
| Sep 30, 2024 | 1.18 |
| Jun 30, 2024 | 1.14 |
| Mar 31, 2024 | 1.06 |
| Dec 31, 2023 | 1.05 |
| Sep 30, 2023 | 0.96 |
| Jun 30, 2023 | 0.83 |
| Mar 31, 2023 | 0.89 |
| Dec 31, 2022 | 0.74 |
| Sep 30, 2022 | 0.71 |
| Jun 30, 2022 | 2.92 |
| Mar 31, 2022 | 3.10 |
| Dec 31, 2021 | 3.19 |
| Sep 30, 2021 | 2.91 |
API Access
Two Harbors Investment Price to Book API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=price-to-book&ticker=TWO-PC&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "price-to-book", "ticker": "TWO-PC", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=price-to-book&ticker=TWO-PC&period=max&api_key=YOUR_API_KEY");
const data = await res.json();