Two Harbors Investment (TWO) Free Cash Flow (2010 - 2026)
Two Harbors Investment's (TWO) quarterly Free Cash Flow came in at $56.6 million in Q1 2026, down 49.44% year-on-year from $111.9 million in Q1 2025, and down 51.69% quarter-over-quarter from $117.1 million in Q4 2025.
Two Harbors Investment (TWO) Free Cash Flow (2010 - 2026) Analysis & Trends
Two Harbors Investment's Free Cash Flow history runs 17 years deep, the most recent figure standing at $56.6 million for Q1 2026.
- On a quarterly basis, Free Cash Flow fell 49.44% year-over-year to $56.6 million in Q1 2026; TTM through Mar 2026 was $33.6 million, a 89.56% decrease from a year earlier, with the FY2025 full-year figure at $88.9 million, down 55.76% from the prior year.
- Free Cash Flow eased to $56.6 million in Q1 2026 per TWO's latest filing, from $117.1 million in the prior quarter.
- Across five years, Free Cash Flow topped out at $369.2 million in Q3 2022 and bottomed at -$239.2 million in Q3 2025.
- The 5-year median for Free Cash Flow is $99.1 million (2025), against an average of $77.3 million.
- Across the five-year window, Free Cash Flow plunged 7639.13% in 2024 and jumped 1390.81% in 2025, its largest moves.
- Year by year, Free Cash Flow stood at $236.0 million in 2022, then tumbled by 53.5% to $109.7 million in 2023, then sank by 119.19% to -$21.1 million in 2024, then soared by 656.2% to $117.1 million in 2025, then tumbled by 51.69% to $56.6 million in 2026.
- Per Business Quant, the three latest TWO Free Cash Flow figures stand at $56.6 million (Q1 2026), $117.1 million (Q4 2025), and -$239.2 million (Q3 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Free Cash Flow (Qtr) |
|---|---|---|---|---|---|
| 1 | Annaly Capital Management | 16.30 Bn | 14.44 Bn | - | -8.60 Bn |
| 2 | AGNC Investment | 11.85 Bn | 11.36 Bn | - | 387.00 Mn |
| 3 | Starwood Property Trust | 5.99 Bn | 5.94 Bn | - | 93.56 Mn |
| 4 | Rithm Capital | 5.01 Bn | 5.01 Bn | - | -16.07 Mn |
| 5 | Blackstone Mortgage Trust | 2.78 Bn | 2.24 Bn | - | 169.73 Mn |
| 6 | Ellington Financial | 1.63 Bn | 1.51 Bn | - | -9.79 Mn |
| 7 | Dynex Capital | 1.56 Bn | 1.05 Bn | - | 69.85 Mn |
| 8 | Armour Residential REIT | 1.42 Bn | 1.34 Bn | - | 210.18 Mn |
| 9 | Two Harbors Investment | 1.27 Bn | 987.19 Mn | - | 56.58 Mn |
| 10 | Ladder Capital | 1.20 Bn | 1.17 Bn | - | -8.73 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 56.58 Mn |
| Mar 31, 2026 | 56.58 Mn |
| Dec 31, 2025 | 117.13 Mn |
| Dec 31, 2025 | 117.13 Mn |
| Sep 30, 2025 | -239.24 Mn |
| Sep 30, 2025 | -239.24 Mn |
| Jun 30, 2025 | 99.11 Mn |
| Jun 30, 2025 | 99.11 Mn |
| Mar 31, 2025 | 111.91 Mn |
| Mar 31, 2025 | 111.91 Mn |
| Dec 31, 2024 | -21.06 Mn |
| Dec 31, 2024 | -21.06 Mn |
| Sep 30, 2024 | 87.08 Mn |
| Sep 30, 2024 | 87.08 Mn |
| Jun 30, 2024 | 143.65 Mn |
| Jun 30, 2024 | 143.65 Mn |
| Mar 31, 2024 | -8.67 Mn |
| Mar 31, 2024 | -8.67 Mn |
| Dec 31, 2023 | 109.74 Mn |
| Dec 31, 2023 | 109.74 Mn |