Two Harbors Investment (TWO) Convertible Debt (2017 - 2025)

Two Harbors Investment's (TWO) quarterly Convertible Debt came in at $261.8 million in Q4 2025, up 0.6% year-on-year from $260.2 million in Q4 2024, and little changed quarter-over-quarter from $261.4 million in Q3 2025.

Two Harbors Investment (TWO) Convertible Debt (2017 - 2025) Analysis & Trends

Two Harbors Investment's Convertible Debt history runs 9 years deep, the most recent figure standing at $261.8 million for Q4 2025.

  • On a quarterly basis, Convertible Debt rose 0.6% year-over-year to $261.8 million in Q4 2025; TTM through Dec 2025 was $261.8 million, a 0.6% increase from a year earlier, with the FY2025 full-year figure at $261.8 million, up 0.6% from the prior year.
  • Convertible Debt was little changed at $261.8 million in Q4 2025 per TWO's latest filing, from $261.4 million in the prior quarter.
  • Across five years, Convertible Debt topped out at $424.8 million in Q4 2021 and bottomed at $259.4 million in Q2 2024.
  • The 5-year median for Convertible Debt is $268.8 million (2023), against an average of $300.2 million.
  • Across the five-year window, Convertible Debt jumped 48.44% in 2021 and slumped 33.53% in 2022, its largest moves.
  • Year by year, Convertible Debt stood at $424.8 million in 2021, then plunged by 33.5% to $282.5 million in 2022, then slipped by 4.93% to $268.6 million in 2023, then declined by 3.11% to $260.2 million in 2024, then grew by 0.6% to $261.8 million in 2025.
  • Per Business Quant, the three latest TWO Convertible Debt figures stand at $261.8 million (Q4 2025), $261.4 million (Q3 2025), and $260.9 million (Q2 2025).

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr)
1 Annaly Capital Management 16.30 Bn 14.44 Bn -
2 AGNC Investment 11.85 Bn 11.36 Bn -
3 Starwood Property Trust 5.99 Bn 5.94 Bn -
4 Rithm Capital 5.01 Bn 5.01 Bn -
5 Blackstone Mortgage Trust 2.78 Bn 2.24 Bn -
6 Ellington Financial 1.63 Bn 1.51 Bn -
7 Dynex Capital 1.56 Bn 1.05 Bn -
8 Armour Residential REIT 1.42 Bn 1.34 Bn -
9 Two Harbors Investment 1.27 Bn 987.19 Mn -
10 Ladder Capital 1.20 Bn 1.17 Bn -

Historic Data

Download Data
DateValue
Dec 31, 2025 261.80 Mn
Sep 30, 2025 261.40 Mn
Jun 30, 2025 260.90 Mn
Mar 31, 2025 260.59 Mn
Dec 31, 2024 260.23 Mn
Sep 30, 2024 259.82 Mn
Jun 30, 2024 259.40 Mn
Mar 31, 2024 268.95 Mn
Dec 31, 2023 268.58 Mn
Sep 30, 2023 268.18 Mn
Jun 30, 2023 267.79 Mn
Mar 31, 2023 282.80 Mn
Dec 31, 2022 282.50 Mn
Sep 30, 2022 282.10 Mn
Jun 30, 2022 281.70 Mn
Mar 31, 2022 281.40 Mn
Dec 31, 2021 424.80 Mn
Sep 30, 2021 424.27 Mn
Jun 30, 2021 423.70 Mn
Mar 31, 2021 423.34 Mn