Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income | $353M | $349M | -$44.3M | $324M | -$1.63B | $187M | $220M | -$106M | $298M | -$454M |
| EPS (diluted) | $2.03 | $1.81 | -$0.53 | $0.93 | -$24.94 | $1.72 | $2.13 | -$1.60 | $2.37 | -$4.88 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $240M | $607M | $703M | $1.06B | $632M | $424M | $623M | $344M | $201M | $88.9M |
| Share buybacks | $61.3M | $0.00 | $0.00 | $19.0K | $1.06M | $0.00 | $0.00 | $7.06M | $0.00 | $0.00 |
| Dividends paid | $332M | $423M | $271M | $463M | $199M | $193M | $235M | $198M | $188M | $171M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $351M | $419M | $410M | $558M | $1.38B | $1.15B | $683M | $730M | $505M | $842M |
| Total assets | $20.1B | $24.8B | $30.1B | $35.9B | $19.5B | $12.1B | $13.5B | $13.1B | $12.2B | $10.9B |
| Total liabilities | $16.7B | $21.2B | $25.9B | $31.0B | $16.4B | $9.37B | $11.3B | $10.9B | $10.1B | $9.07B |
| Long-term debt | — | — | — | — | — | — | — | — | — | $8.56B |
| Shareholders' equity | $3.40B | $3.57B | $4.25B | $4.97B | $3.09B | $2.74B | $2.18B | $2.20B | $2.12B | $1.79B |
| Shares (wtd avg diluted) | 174M | 188M | 206M | 268M | 68.4M | 74.5M | 96.1M | 95.7M | 113M | 104M |
Every figure is extracted from TWO HARBORS INVESTMENT CORP.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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