Two Harbors Investments Corp (TWO) — Working Capital to Net Assets Ratio
Two Harbors Investments Corp (TWO) has a Working Capital to Net Assets ratio of -446.2% as of March 2026. Working capital of $-7.73 Billion (current assets of $790.16 Million minus current liabilities of $8.52 Billion) is measured against net assets of $1.73 Billion. A higher ratio indicates strong short-term liquidity financed by the equity base. See TWO FCF to total liabilities ratio to measure the company's free cash flow as a share of total liabilities.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
Two Harbors Investments Corp Working Capital to Net Assets (2007–2025)
This chart shows how Two Harbors Investments Corp's Working Capital to Net Assets ratio has evolved across 19 annual periods from 2007 to 2025. As of March 2026, the ratio stands at -446.2%, reflecting working capital of $-7.73 Billion against net assets of $1.73 Billion USD. See how many days can Two Harbors Investments Corp fund operations to measure how many days the company can operate on defensive assets alone.
Annual Working Capital to Net Assets for Two Harbors Investments Corp (2007–2025)
The table below presents the year-by-year Working Capital to Net Assets ratio for Two Harbors Investments Corp from 2007 to 2025, covering 19 annual filings. Each row shows current assets, current liabilities, working capital, net assets, the ratio, and the change in percentage points compared to the prior year. For live market cap and the full company profile, see TWO market cap.
| Year | WC/NA Ratio | Working Capital (USD) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2025 | -416.1% | $-7.44 Billion | $1.79 Billion | $1.09 Billion | $8.53 Billion | ▼ -350.2 pp |
| 2024 | -65.9% | $-1.40 Billion | $2.12 Billion | $8.22 Billion | $9.62 Billion | ▼ -22.0 pp |
| 2023 | -43.9% | $-967.30 Million | $2.20 Billion | $9.16 Billion | $10.12 Billion | ▼ -414.9 pp |
| 2022 | 371.0% | $8.10 Billion | $2.18 Billion | $8.50 Billion | $398.01 Million | ▲ +337.7 pp |
| 2021 | 33.2% | $912.01 Million | $2.74 Billion | $9.28 Billion | $8.36 Billion | ▼ -482.3 pp |
| 2020 | 515.5% | $15.92 Billion | $3.09 Billion | $16.23 Billion | $305.50 Million | ▼ -126.8 pp |
| 2019 | 642.3% | $31.93 Billion | $4.97 Billion | $32.38 Billion | $449.63 Million | ▲ +37.5 pp |
| 2018 | 604.9% | $25.73 Billion | $4.25 Billion | $26.20 Billion | $470.00 Million | ▼ -23.5 pp |
| 2017 | 628.4% | $22.44 Billion | $3.57 Billion | $22.55 Billion | $107.70 Million | ▲ +229.7 pp |
| 2016 | 398.7% | $13.56 Billion | $3.40 Billion | $13.66 Billion | $99.50 Million | ▲ +157.9 pp |
| 2015 | 240.8% | $8.61 Billion | $3.58 Billion | $8.63 Billion | $18.72 Million | ▼ -137.5 pp |
| 2014 | 378.3% | $15.39 Billion | $4.07 Billion | $15.41 Billion | $23.77 Million | ▲ +33.0 pp |
| 2013 | 345.3% | $13.31 Billion | $3.85 Billion | $13.33 Billion | $20.28 Million | ▲ +670.6 pp |
| 2012 | -325.2% | $-11.22 Billion | $3.45 Billion | $1.20 Billion | $12.42 Billion | ▼ -402.2 pp |
| 2011 | 77.0% | $978.08 Million | $1.27 Billion | $7.81 Billion | $6.83 Billion | ▼ -10.1 pp |
| 2010 | 87.1% | $333.00 Million | $382.45 Million | $1.75 Billion | $1.41 Billion | ▲ +59.5 pp |
| 2009 | 27.6% | $33.54 Million | $121.72 Million | $38.17 Million | $4.63 Million | ▲ +26.1 pp |
| 2008 | 1.5% | $2.77 Million | $184.16 Million | $2.96 Million | $193.56K | ▲ +0.8 pp |
| 2007 | 0.7% | $1.26 Million | $182.10 Million | $1.96 Million | $696.86K | — |