Two Harbors Investment (TWOD) Net Margin (2009 - 2026)
Two Harbors Investment's Net Margin was 40.54% in Q2 2026, up 296.30 percentage points from -255.76% a year earlier and up 23.58 percentage points from the prior quarter.
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Analysis
Two Harbors Investment (TWOD) Net Margin (2009 - 2026) Analysis & Trends
On a trailing twelve-month basis, Two Harbors Investment's Net Margin was -15.29% through Jun 30, 2026, up 59.84 percentage points year-over-year; for FY2025, it came in at -111.56%, down 163.38 percentage points from FY2024.
- Net Margin shows a four-year change of -130.33 percentage points (FY2021 to FY2025).
- In earlier years, Net Margin was 51.82% in FY2024 (+89.44 pp), -37.62% in FY2023 (-506.24 pp), 468.62% in FY2022 (+449.85 pp) and 18.77% in FY2021.
- The Q2 2026 figure marks the highest quarterly Net Margin since Q4 2024.
- Compared with a year earlier, Net Margin was higher in four of the last eight quarters, with an average year-over-year change of +49.70 percentage points.
- The best year-over-year quarter for Net Margin over five years was Q4 2024 (a gain of 1098.11 percentage points); the worst was Q1 2023 (a drop of 554.88 percentage points).
- Per Business Quant data, TWOD's Net Margin in the three quarters before Q2 2026 was 16.96% (Q1 2026), -1.13% (Q4 2025) and -109.79% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Orix | 41.69 Bn | 10.41 Bn | 12.74 Bn | 12.99% |
| 2 | Rocket Companies | 33.74 Bn | 19.42 Bn | - | 8.26% |
| 3 | Royalty Pharma | 29.27 Bn | 26.24 Bn | - | 2.65% |
| 4 | Federal National Mortgage Association Fannie Mae | 27.28 Bn | 27.28 Bn | - | 12.38% |
| 5 | Affirm Holdings | 25.16 Bn | 18.85 Bn | - | 138.65% |
| 6 | Synchrony Financial | 24.49 Bn | -43.13 Bn | - | 17.58% |
| 7 | Royal Gold | 20.07 Bn | 19.25 Bn | 390.45 Mn | 52.47% |
| 8 | Annaly Capital Management | 14.09 Bn | 5.05 Bn | - | -121.54% |
| 9 | Ares Capital | 13.71 Bn | 11.46 Bn | - | 41.81% |
| 10 | Two Harbors Investment | 2.69 Bn | -39.17 Mn | - | 40.54% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 40.54% |
| Mar 31, 2026 | 16.96% |
| Dec 31, 2025 | -1.13% |
| Sep 30, 2025 | -109.79% |
| Jun 30, 2025 | -255.76% |
| Mar 31, 2025 | -88.93% |
| Dec 31, 2024 | 211.08% |
| Sep 30, 2024 | -192.54% |
| Jun 30, 2024 | 38.48% |
| Mar 31, 2024 | 169.98% |
| Dec 31, 2023 | -887.03% |
| Sep 30, 2023 | 227.55% |
| Jun 30, 2023 | 144.34% |
| Mar 31, 2023 | -294.56% |
| Sep 30, 2022 | 147.55% |
| Mar 31, 2022 | 260.32% |
| Dec 31, 2021 | -10.49% |
| Sep 30, 2021 | 33.34% |
| Jun 30, 2021 | -88.18% |
| Mar 31, 2021 | 81.89% |
API Access
Two Harbors Investment Net 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=net-margin&ticker=TWOD&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "net-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=net-margin&ticker=TWOD&period=max&api_key=YOUR_API_KEY");
const data = await res.json();