Two Harbors Investment (TWOD) FCF Margin (2010 - 2026)
Two Harbors Investment (TWOD) reported FCF Margin of 158.24% for Q2 2026, up 65.14 percentage points from 93.10% a year earlier and up 108.97 percentage points from the prior quarter.
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Analysis
Two Harbors Investment (TWOD) FCF Margin (2010 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Two Harbors Investment's FCF Margin came in at 26.38%, down 33.11 percentage points year-over-year; for FY2025, it came in at 19.56%, down 21.82 percentage points from FY2024.
- FCF Margin has declined for three consecutive years, with a four-year change of -42.17 percentage points (FY2021 to FY2025).
- By year, FCF Margin came in at 41.38% in FY2024 (-43.63 pp), 85.02% in FY2023 (-1479.04 pp), 1564.06% in FY2022 (+1502.32 pp) and 61.74% in FY2021.
- The Q2 2026 figure ranks as the highest quarterly FCF Margin since Q4 2023.
- Year over year, FCF Margin gained in three of the last eight quarters, with an average year-over-year change of -38.53 percentage points.
- The high point for year-over-year FCF Margin in five years was Q4 2025 (a gain of 116.97 percentage points); the low point was Q3 2025 (a drop of 252.95 percentage points).
- Per Business Quant data, the three quarters before Q2 2026 came in at 49.27% (Q1 2026), 100.19% (Q4 2025) and -185.96% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Orix | 41.69 Bn | 10.41 Bn | 12.74 Bn | - |
| 2 | Rocket Companies | 33.74 Bn | 19.42 Bn | - | -44.76% |
| 3 | Royalty Pharma | 29.27 Bn | 26.24 Bn | - | 108.06% |
| 4 | Federal National Mortgage Association Fannie Mae | 27.28 Bn | 27.28 Bn | - | 10.46% |
| 5 | Affirm Holdings | 25.16 Bn | 18.85 Bn | - | 19.67% |
| 6 | Synchrony Financial | 24.49 Bn | -43.13 Bn | - | 50.83% |
| 7 | Royal Gold | 20.07 Bn | 19.25 Bn | 390.45 Mn | 63.28% |
| 8 | Annaly Capital Management | 14.09 Bn | 5.05 Bn | - | 332.74% |
| 9 | Ares Capital | 13.71 Bn | 11.46 Bn | - | 137.88% |
| 10 | Two Harbors Investment | 2.69 Bn | -39.17 Mn | - | 158.24% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 158.24% |
| Mar 31, 2026 | 49.27% |
| Dec 31, 2025 | 100.19% |
| Sep 30, 2025 | -185.96% |
| Jun 30, 2025 | 93.10% |
| Mar 31, 2025 | 107.90% |
| Dec 31, 2024 | -16.78% |
| Sep 30, 2024 | 66.99% |
| Jun 30, 2024 | 124.09% |
| Mar 31, 2024 | -7.66% |
| Dec 31, 2023 | 218.90% |
| Sep 30, 2023 | 94.66% |
| Jun 30, 2023 | 85.57% |
| Mar 31, 2023 | 0.18% |
| Sep 30, 2022 | 206.46% |
| Mar 31, 2022 | -49.23% |
| Dec 31, 2021 | 30.32% |
| Sep 30, 2021 | 145.59% |
| Jun 30, 2021 | 143.12% |
| Mar 31, 2021 | -23.27% |
API Access
Two Harbors Investment FCF Margin 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=fcf-margin&ticker=TWOD&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "fcf-margin", "ticker": "TWOD", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=fcf-margin&ticker=TWOD&period=max&api_key=YOUR_API_KEY");
const data = await res.json();