Two Harbors Investment (TWO) FCF Payout Ratio (2010 - 2026)

Two Harbors Investment's (TWO) quarterly FCF Payout Ratio came in at 0.63 in Q1 2026, up 50.22% year-on-year from 0.42 in Q1 2025, and up 108.08% quarter-over-quarter from 0.3 in Q4 2025.

Two Harbors Investment (TWO) FCF Payout Ratio (2010 - 2026) Analysis & Trends

Two Harbors Investment's FCF Payout Ratio history runs 17 years deep, the most recent figure standing at 0.63 for Q1 2026.

  • On a quarterly basis, FCF Payout Ratio rose 50.22% year-over-year to 0.63 in Q1 2026; TTM through Mar 2026 was 4.41, a 654.82% increase from a year earlier, with the FY2025 full-year figure at 1.92, up 105.55% from the prior year.
  • FCF Payout Ratio advanced to 0.63 in Q1 2026 per TWO's latest filing, from 0.3 in the prior quarter.
  • Across five years, FCF Payout Ratio topped out at 453.38 in Q1 2023 and bottomed at 5.41 in Q1 2024.
  • The 5-year median for FCF Payout Ratio is 0.35 (2023), against an average of 26.44.
  • Across the five-year window, FCF Payout Ratio soared 39781.12% in 2023 and tumbled 741.25% in 2024, its largest moves.
  • Year by year, FCF Payout Ratio stood at 0.22 in 2022, then jumped by 56.13% to 0.35 in 2023, then tumbled by 741.25% to 2.23 in 2024, then surged by 113.68% to 0.3 in 2025, then surged by 108.08% to 0.63 in 2026.
  • Per Business Quant, the three latest TWO FCF Payout Ratio figures stand at 0.63 (Q1 2026), 0.3 (Q4 2025), and 0.15 (Q3 2025).

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) FCF Cover (Qtr)
1 Annaly Capital Management 16.30 Bn 14.44 Bn - -0.06
2 AGNC Investment 11.85 Bn 11.36 Bn - 1.17
3 Starwood Property Trust 5.99 Bn 5.94 Bn - 0.17
4 Rithm Capital 5.01 Bn 5.01 Bn - -0.28
5 Blackstone Mortgage Trust 2.78 Bn 2.24 Bn - 0.01
6 Ellington Financial 1.63 Bn 1.51 Bn - -1.83
7 Dynex Capital 1.56 Bn 1.05 Bn - 1.47
8 Armour Residential REIT 1.42 Bn 1.34 Bn - 0.46
9 Two Harbors Investment 1.27 Bn 987.19 Mn - 0.63
10 Ladder Capital 1.20 Bn 1.17 Bn - -3.50

Historic Data

Download Data
DateValue
Mar 31, 2026 0.63
Dec 31, 2025 0.30
Sep 30, 2025 -0.15
Jun 30, 2025 0.41
Mar 31, 2025 0.42
Dec 31, 2024 -2.23
Sep 30, 2024 0.54
Jun 30, 2024 0.33
Mar 31, 2024 -5.41
Dec 31, 2023 0.35
Sep 30, 2023 0.36
Jun 30, 2023 0.39
Mar 31, 2023 453.38
Dec 31, 2022 0.22
Sep 30, 2022 0.16
Jun 30, 2022 0.85
Mar 31, 2022 -1.14
Dec 31, 2021 1.23
Sep 30, 2021 0.23
Jun 30, 2021 0.22