Income Statement - TWO HARBORS INVESTMENT CORP. (TWO)
$(Billion, Million)| Dec-25 | Dec-24 | Dec-23 | Dec-22 | Dec-21 | Dec-20 | Dec-19 | Dec-18 | Dec-17 | Dec-16 | Dec-15 | Dec-14 | Dec-13 | Dec-12 | Dec-11 | Dec-10 | Dec-09 | Dec-08 | Dec-07 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total revenue | 605.61 | 845.84 | -556.75 | 12.61 | 255.22 | -1,562.03 | 427.56 | 185.73 | 838.62 | 498.75 | 732.02 | 591.62 | 500.38 | 538.88 | 264.91 | 53.40 | 3.20 | 4.44 | 1.47 |
| Cost of revenue | 12.73 | -38.46 | 115.18 | 94.12 | 63.80 | 66.35 | 57.06 | 611.08 | 76.73 | 73.95 | 81.12 | 76.34 | 48.82 | 3.46 | 14.24 | 2.99 | 0.33 | ||
| Gross profit | 592.88 | 884.30 | -671.93 | -81.51 | 191.42 | -1,628.38 | 370.50 | 185.73 | 761.89 | 424.80 | 650.90 | 515.28 | 451.56 | 535.41 | 250.67 | 50.42 | 2.88 | 4.44 | 1.47 |
| Total operating expenses | 177.07 | -66.78 | 542.90 | -664.36 | -63.80 | 39.15 | 60.44 | 33.31 | 113.16 | 89.76 | 174.65 | 421.48 | -209.55 | 279.26 | 119.24 | 15.34 | 11.94 | 1.06 | 0.14 |
| Operating income | 415.81 | 951.08 | -129.03 | 582.85 | 191.42 | -1,665.82 | 310.40 | 517.20 | 648.73 | 335.05 | 476.26 | 93.79 | 661.11 | 256.15 | 131.43 | 35.07 | -9.06 | 3.38 | 1.33 |
| Non-operating income (net) | -861.24 | -606.32 | 45.63 | -258.40 | 0.00 | 0.00 | 0.00 | -519.67 | -350.98 | -4.81 | -0.54 | -0.39 | -1.66 | -10.95 | -5.10 | 0.00 | 0.00 | 0.00 | 0.00 |
| Income before tax | -445.43 | 344.75 | -83.39 | 324.45 | 191.42 | -1,665.82 | 310.40 | -2.47 | 297.76 | 330.24 | 475.72 | 93.40 | 659.45 | 245.20 | 126.33 | 35.07 | -9.06 | 3.38 | 1.33 |
| Income tax expense | 8.87 | 46.59 | 22.98 | 104.21 | 4.19 | -35.69 | -13.56 | 41.82 | -10.48 | 12.30 | -16.49 | -73.74 | 84.41 | -42.22 | -1.11 | -0.68 | -0.32 | 1.09 | 0.62 |
| Net income | -454.30 | 298.17 | -152.01 | 220.24 | 187.23 | -1,630.14 | 323.96 | -44.29 | 348.57 | 353.28 | 492.21 | 167.14 | 579.04 | 291.91 | 127.43 | 35.76 | -8.84 | 2.06 | 0.71 |
Show Quarterly Income Statement
Income Statement - TWO HARBORS INVESTMENT CORP. (TWO)
$(Billion, Million)| Mar-26 | Dec-25 | Sep-25 | Jun-25 | Mar-25 | Dec-24 | Sep-24 | Jun-24 | Mar-24 | Dec-23 | Sep-23 | Jun-23 | Mar-23 | Dec-22 | Sep-22 | Jun-22 | Mar-22 | Dec-21 | Sep-21 | Jun-21 | Mar-21 | Dec-20 | Sep-20 | Jun-20 | Mar-20 | Dec-19 | Sep-19 | Jun-19 | Mar-19 | Dec-18 | Sep-18 | Jun-18 | Mar-18 | Dec-17 | Sep-17 | Jun-17 | Mar-17 | Dec-16 | Sep-16 | Jun-16 | Mar-16 | Dec-15 | Sep-15 | Jun-15 | Mar-15 | Dec-14 | Sep-14 | Jun-14 | Mar-14 | Dec-13 | Sep-13 | Jun-13 | Mar-13 | Dec-12 | Sep-12 | Jun-12 | Mar-12 | Dec-11 | Sep-11 | Jun-11 | Mar-11 | Dec-10 | Sep-10 | Jun-10 | Mar-10 | Dec-09 | Sep-09 | Jun-09 | Mar-09 | Dec-08 | Sep-08 | Jun-08 | Mar-08 | Dec-07 | Sep-07 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total revenue | 218.79 | 179.37 | 247.57 | 119.38 | 211.99 | 219.45 | 126.48 | 208.81 | 292.02 | 24.56 | 342.45 | 278.50 | 14.32 | -33.81 | 192.05 | 53.33 | -146.48 | 151.06 | 18.87 | 41.03 | -231.30 | 136.17 | 101.14 | -578.39 | -432.17 | 279.23 | 714.24 | 503.88 | 401.23 | 111.16 | 187.76 | 191.17 | 321.66 | 245.58 | 214.97 | 199.80 | 202.98 | 483.36 | 92.36 | 7.73 | -55.67 | 249.09 | -13.20 | 262.15 | 117.38 | -18.80 | 218.28 | 22.54 | -36.86 | 272.00 | -157.35 | 457.01 | 160.65 | 26.07 | 105.57 | 105.90 | 74.03 | 64.07 | 60.52 | 40.83 | 17.37 | 12.56 | 11.71 | 5.20 | 5.64 | 2.74 | 0.00 | 0.01 | 0.05 | ||||||
| Cost of revenue | 97.01 | 3.38 | -4.37 | -4.00 | -2.78 | -7.58 | -13.16 | -10.54 | -7.18 | 4.59 | 23.05 | 21.74 | 24.76 | 25.27 | 21.15 | 22.99 | 24.70 | 21.58 | 21.04 | 18.68 | 24.95 | 24.22 | 31.96 | 35.38 | 34.46 | 37.80 | 34.54 | 30.38 | 31.99 | 30.76 | 11.79 | 23.32 | 26.63 | 20.81 | 18.93 | 21.43 | 17.38 | 19.68 | 20.78 | 17.64 | 14.86 | 9.45 | 16.15 | 15.83 | 16.06 | 2.61 | 12.42 | 14.95 | 14.53 | 2.56 | 10.02 | 9.49 | 6.56 | 8.37 | 0.56 | 4.48 | 4.28 | 1.44 | 3.37 | 0.29 | 1.55 | -2.07 | 0.86 | 0.75 | 0.46 | 1,252.38 | -1.39 | 1.39 | 0.32 | ||||||
| Gross profit | 121.78 | 175.99 | 251.94 | 123.38 | 214.77 | 227.03 | 139.64 | 219.35 | 299.20 | 19.97 | 319.40 | 256.76 | -10.44 | -59.08 | 170.90 | 30.34 | -171.18 | 129.48 | -2.17 | 22.35 | -256.25 | 111.95 | 69.18 | -613.76 | -466.62 | 241.43 | 679.71 | 473.50 | 369.23 | 80.40 | 175.97 | 167.85 | 295.03 | 224.77 | 196.03 | 178.38 | 185.61 | 463.67 | 71.58 | 7.73 | -55.67 | 249.09 | -13.20 | 262.15 | 117.38 | -18.80 | 218.28 | 22.54 | -36.86 | 272.00 | -157.35 | 457.01 | 160.65 | 187.85 | 105.01 | 101.43 | 69.76 | 62.63 | 57.15 | -1.48 | 15.82 | 14.63 | 10.85 | 4.45 | 5.18 | 2.74 | 0.00 | 0.01 | 0.05 | ||||||
| Total operating expenses | 49.45 | 54.85 | 86.47 | 44.12 | 161.68 | -218.68 | 233.65 | -5.40 | -76.36 | 294.39 | -196.25 | -120.02 | 27.79 | 87.04 | -211.09 | 39.74 | -527.57 | 108.51 | -90.70 | 136.81 | -541.81 | -125.39 | 15.26 | -567.10 | 1,416.17 | -61.54 | 371.62 | 556.80 | 405.00 | 465.84 | 102.52 | 34.23 | -43.66 | 19.53 | 102.73 | 14.57 | 19.51 | 6.19 | 17.14 | 2.28 | 14.87 | 6.75 | 14.82 | -3.92 | 10.86 | 10.84 | 10.74 | 21.91 | -36.86 | 274.23 | 18.74 | 456.90 | 154.33 | -8.75 | 16.28 | 14.63 | 50.29 | 8.42 | 57.15 | 40.53 | 1.51 | 4.24 | 1.21 | 1.13 | 5.18 | 2.74 | 1.04 | 1.39 | 0.05 | 0.28 | 0.23 | 0.27 | 0.28 | 0.14 | 0.00 |
| Operating income | 72.34 | 121.14 | 165.47 | 79.26 | 53.09 | 445.71 | -94.01 | 224.74 | 375.56 | -274.41 | 515.65 | 376.79 | -38.23 | -146.12 | 381.99 | -9.41 | 356.39 | 20.97 | 88.53 | -114.47 | 285.56 | 237.33 | 53.92 | -46.66 | -1,882.79 | 302.97 | 308.09 | -83.30 | -35.77 | -385.45 | 73.45 | 133.61 | 338.69 | 267.80 | 87.88 | 3.65 | 47.47 | 381.65 | 103.16 | -31.74 | -83.48 | 219.49 | -42.45 | 214.54 | 84.14 | -48.68 | 188.73 | 16.40 | -63.05 | 246.02 | -169.00 | 437.76 | 148.68 | 179.10 | 88.73 | 89.64 | 59.42 | 54.21 | 49.52 | 35.65 | 14.31 | 10.39 | 8.40 | 3.31 | 4.20 | -6.37 | -1.04 | -1.38 | -0.27 | 0.10 | -0.23 | 0.60 | 1.95 | 0.72 | 0.00 |
| Non-operating income (net) | -35.99 | -103.85 | -292.19 | -336.64 | -131.71 | -138.11 | -154.93 | -154.21 | -160.00 | -188.05 | -173.09 | -159.56 | -142.49 | -115.63 | -83.35 | -37.10 | -22.32 | -20.16 | -21.88 | -24.41 | -22.73 | -22.35 | 139.79 | -145.07 | 0.00 | -170.59 | -5.95 | -4.85 | -0.21 | -162.41 | -0.10 | -0.17 | -0.09 | -134.32 | 0.00 | -0.43 | -13.46 | -1.80 | -2.20 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -0.74 | -0.87 | -1.02 | -1.38 | -4.49 | -67.09 | -82.06 | -15.19 | -8.95 | 14.48 | -41.72 | 8.83 | 6.94 | 1.24 | 0.00 | 0.60 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.96 | 0.00 | 0.00 | -0.72 | 0.00 |
| Income before tax | 36.35 | 17.29 | -126.72 | -257.38 | -78.62 | 307.60 | -248.94 | 70.54 | 215.56 | -462.46 | 342.56 | 217.23 | -180.72 | -261.74 | 298.64 | -46.51 | 334.07 | 0.81 | 66.65 | -138.87 | 262.83 | 214.99 | 193.71 | -191.73 | -1,882.79 | 132.38 | 302.14 | -88.15 | -35.97 | -547.85 | 73.36 | 133.44 | 338.59 | 133.48 | 87.88 | 3.22 | 34.01 | 379.84 | 100.96 | -31.74 | -83.48 | 219.49 | -42.45 | 214.54 | 84.14 | -48.68 | 188.73 | 16.40 | -63.05 | 245.28 | -169.87 | 436.74 | 147.30 | 174.61 | 21.64 | 7.58 | 44.22 | 45.26 | 64.00 | -6.07 | 23.13 | 17.33 | 9.63 | 3.31 | 4.79 | -6.37 | -1.04 | -1.38 | -0.27 | 0.10 | 0.73 | 0.60 | 1.95 | ||
| Income tax expense | 4.07 | 5.58 | 1.20 | 1.66 | 0.43 | 30.87 | -10.46 | 14.20 | 11.97 | -29.26 | 36.37 | 19.78 | -3.91 | 8.48 | 21.02 | 25.91 | 48.80 | 2.10 | 0.33 | -20.91 | 22.68 | 3.82 | -8.20 | -18.16 | -13.14 | -2.37 | -3.56 | 2.41 | -10.04 | 6.68 | 37.41 | -6.05 | 3.78 | 10.62 | -5.34 | 8.76 | -24.52 | 38.44 | -16.83 | -14.76 | 5.45 | 8.78 | -7.66 | -6.96 | -10.66 | -11.72 | -4.86 | -23.26 | -33.90 | 6.60 | 23.73 | 49.12 | 4.96 | -10.20 | -7.83 | -16.61 | -7.58 | -6.17 | 9.39 | -5.08 | 0.76 | 0.87 | -0.25 | -0.77 | -0.53 | 0.05 | -0.12 | -0.16 | -0.09 | 0.04 | 0.18 | 0.21 | 0.66 | -0.72 | 0.00 |
| Net income | 32.28 | 11.72 | -127.92 | -259.04 | -79.06 | 276.73 | -238.49 | 56.34 | 203.59 | -433.20 | 306.19 | 197.45 | -176.81 | -270.22 | 277.61 | -72.42 | 285.27 | -1.29 | 66.32 | -117.96 | 240.16 | 211.17 | 201.91 | -173.56 | -1,869.66 | 134.75 | 305.70 | -90.56 | -25.94 | -554.54 | 35.95 | 139.49 | 334.81 | 165.90 | 102.06 | 8.62 | 71.99 | 341.40 | 117.79 | -16.98 | -88.93 | 210.71 | -34.79 | 221.50 | 94.79 | -36.96 | 193.59 | 39.66 | -29.15 | 239.41 | -192.73 | 388.64 | 143.72 | 189.30 | 26.80 | 24.00 | 51.80 | 51.43 | 54.61 | -0.98 | 22.38 | 16.46 | 9.88 | 4.09 | 5.33 | -6.42 | -0.92 | -1.22 | -0.18 | 0.06 | 0.55 | 0.40 | 1.29 | 0.72 | 0.00 |