Two Harbors Investment (TWOD) Return on Invested Capital [ROIC] (2014 - 2026)
Two Harbors Investment's Return on Invested Capital [ROIC] was 21.66% in Q2 2026, up 7.97 percentage points from 13.68% a year earlier and up 15.07 percentage points from the prior quarter.
Powered by 
Analysis
Two Harbors Investment (TWOD) Return on Invested Capital [ROIC] (2014 - 2026) Analysis & Trends
For FY2025, Return on Invested Capital [ROIC] at Two Harbors Investment came in at 2.26%, down 33.38 percentage points from FY2024.
- Return on Invested Capital [ROIC] shows a five-year change of +32.17 percentage points (FY2020 to FY2025).
- In earlier years, Return on Invested Capital [ROIC] was 35.64% in FY2024 (+13.60 pp), 22.04% in FY2023 (+8.21 pp), 13.83% in FY2022 (+5.54 pp) and 8.28% in FY2021 (+38.20 pp).
- The Q2 2026 figure marks the highest quarterly Return on Invested Capital [ROIC] since Q4 2024.
- Compared with a year earlier, Return on Invested Capital [ROIC] was higher in three of the last eight quarters, with an average year-over-year change of -6.05 percentage points.
- The best year-over-year quarter for Return on Invested Capital [ROIC] over five years was Q3 2021 (a gain of 55.15 percentage points); the worst was Q4 2025 (a drop of 35.95 percentage points).
- Per Business Quant data, TWOD's Return on Invested Capital [ROIC] in the three quarters before Q2 2026 was 6.59% (Q1 2026), 2.40% (Q4 2025) and 18.94% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROIC (Qtr) |
|---|---|---|---|---|---|
| 1 | Rocket Companies | 42.82 Bn | 31.64 Bn | - | 4.45% |
| 2 | Orix | 38.85 Bn | 7.58 Bn | 12.74 Bn | 2.96% |
| 3 | Royalty Pharma | 30.02 Bn | 27.40 Bn | - | - |
| 4 | Federal National Mortgage Association Fannie Mae | 26.05 Bn | 26.05 Bn | - | 2.85% |
| 5 | Synchrony Financial | 23.55 Bn | -44.08 Bn | - | 25.70% |
| 6 | Affirm Holdings | 23.27 Bn | 16.32 Bn | - | 6.19% |
| 7 | Royal Gold | 22.53 Bn | 21.71 Bn | 390.45 Mn | 9.67% |
| 8 | Annaly Capital Management | 14.32 Bn | 5.27 Bn | - | 12.15% |
| 9 | Ares Capital | 13.77 Bn | 11.52 Bn | - | - |
| 10 | Two Harbors Investment | 2.69 Bn | -46.51 Mn | - | 21.66% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 21.66% |
| Mar 31, 2026 | 6.59% |
| Dec 31, 2025 | 2.40% |
| Sep 30, 2025 | 18.94% |
| Jun 30, 2025 | 13.68% |
| Mar 31, 2025 | 9.06% |
| Dec 31, 2024 | 38.35% |
| Sep 30, 2024 | 9.39% |
| Jun 30, 2024 | 27.76% |
| Mar 31, 2024 | 33.86% |
| Dec 31, 2023 | 22.80% |
| Sep 30, 2023 | 13.58% |
| Jun 30, 2023 | 8.34% |
| Mar 31, 2023 | 7.20% |
| Dec 31, 2022 | 15.44% |
| Sep 30, 2022 | 23.05% |
| Jun 30, 2022 | 12.10% |
| Mar 31, 2022 | 10.08% |
| Dec 31, 2021 | 8.75% |
| Sep 30, 2021 | 16.30% |
API Access
Two Harbors Investment Return on Invested Capital [ROIC] 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=return-on-invested-capital-%5Broic%5D&ticker=TWOD&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-invested-capital-[roic]", "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=return-on-invested-capital-%5Broic%5D&ticker=TWOD&period=max&api_key=YOUR_API_KEY");
const data = await res.json();