Two Hbrs Invt Corp Financials
This page shows Two Hbrs Invt Corp (TWO) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
A balance-sheet-driven model with heavy leverage makes shareholder results swing far more than reported revenue suggests.
In the latest year, net income flipped from$298M profit to-$454M loss while operating cash flow remained positive. With equity reduced to$1.79B and leverage still near 4.8x, the real pressure point is a thinner loss-absorbing cushion, so asset-level setbacks hit shareholders much harder than the cash balance alone would imply.
The balance sheet is debt-funded: long-term debt was
Liquidity looked better because cash increased to
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Two Hbrs Invt Corp's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Two Hbrs Invt Corp's revenue declined 8.5% year-over-year, from $450.2M to $412.0M. This contraction results in a growth score of 21/100.
Two Hbrs Invt Corp has elevated debt relative to equity (D/E of 4.79), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 4/100, reflecting increased financial risk.
Two Hbrs Invt Corp generates a -25.4% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from 14.1% the prior year.
Two Hbrs Invt Corp passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
For every $1 of reported earnings, Two Hbrs Invt Corp generates $-0.20 in operating cash flow ($88.9M OCF vs -$454.3M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Key Financial Metrics
Earnings & Revenue
Two Hbrs Invt Corp generated $412.0M in revenue in fiscal year 2025. This represents a decrease of 8.5% from the prior year.
Two Hbrs Invt Corp reported -$454.3M in net income in fiscal year 2025. This represents a decrease of 252.4% from the prior year.
Two Hbrs Invt Corp earned $-4.88 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 305.9% from the prior year.
Cash & Balance Sheet
Two Hbrs Invt Corp held $842.3M in cash against $8.6B in long-term debt as of fiscal year 2025.
Two Hbrs Invt Corp paid $1.52 per share in dividends in fiscal year 2025. This represents a decrease of 15.6% from the prior year.
Two Hbrs Invt Corp had 105M shares outstanding in fiscal year 2025. This represents an increase of 1.0% from the prior year.
Margins & Returns
Two Hbrs Invt Corp's net profit margin was -110.3% in fiscal year 2025, showing the share of revenue converted to profit. This is down 176.5 percentage points from the prior year.
Two Hbrs Invt Corp's ROE was -25.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 39.5 percentage points from the prior year.
Capital Allocation
Two Hbrs Invt Corp spent $0 on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
TWO Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $88.7M-1.4% | $89.9M-3.9% | $93.6M-20.0% | $117.1M+5.1% | $111.4M+7.3% | $103.8M-7.9% | $112.6M-2.9% | $116.0M |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $26.7M+2.8% | $26.0M+21.8% | $21.3M-0.8% | $21.5M-19.3% | $26.6M+22.0% | $21.8M+8.0% | $20.2M-5.0% | $21.2M |
| Operating Income | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Interest Expense | $95.2M-9.7% | $105.4M-10.0% | $117.1M-14.3% | $136.7M+3.8% | $131.7M-5.0% | $138.7M-10.5% | $154.9M+0.5% | $154.2M |
| Income Tax | $4.1M-27.0% | $5.6M+363.1% | $1.2M-27.5% | $1.7M+285.4% | $431K-98.6% | $30.9M+395.2% | -$10.5M-173.6% | $14.2M |
| Net Income | $32.3M+175.5% | $11.7M+109.2% | -$127.9M+50.6% | -$259.0M-227.7% | -$79.1M-128.6% | $276.7M+216.0% | -$238.5M-523.3% | $56.3M |
| EPS (Diluted) | $0.18 | N/A | $-1.36+48.1% | $-2.62-194.4% | $-0.89 | N/A | $-2.42-662.8% | $0.43 |
TWO Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $10.5B-3.0% | $10.9B-0.1% | $10.9B-16.1% | $13.0B-5.3% | $13.7B+12.1% | $12.2B-5.3% | $12.9B+0.3% | $12.8B |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash & Equivalents | $476.3M-43.5% | $842.3M+9.3% | $770.5M+17.1% | $657.8M+14.6% | $573.9M+13.7% | $504.6M-3.4% | $522.6M-16.3% | $624.2M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $8.8B-3.0% | $9.1B-0.3% | $9.1B-17.9% | $11.1B-4.0% | $11.5B+14.4% | $10.1B-5.9% | $10.7B+0.6% | $10.7B |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Long-Term Debt | $8.3B-3.2% | $8.6B+1.5% | $8.4B-17.1% | $10.2B | N/A | N/A | N/A | N/A |
| Total Equity | $1.7B-3.2% | $1.8B+0.9% | $1.8B-6.1% | $1.9B-12.1% | $2.1B+1.1% | $2.1B-2.2% | $2.2B-1.2% | $2.2B |
| Retained Earnings | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
TWO Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $56.6M-51.7% | $117.1M+149.0% | -$239.2M-341.4% | $99.1M-11.4% | $111.9M+631.4% | -$21.1M-124.2% | $87.1M-39.4% | $143.7M |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | -$38.1M-121.4% | -$17.2M-100.8% | $2.1B+156.6% | $829.2M+140.9% | -$2.0B-265.7% | $1.2B+580.1% | -$254.9M-193.1% | $274.0M |
| Financing Cash Flow | -$320.2M-526.2% | $75.1M+104.2% | -$1.8B-117.4% | -$827.8M-146.1% | $1.8B+280.1% | -$997.0M-13630.5% | -$7.3M+98.0% | -$369.2M |
| Dividends Paid | $35.9M+0.5% | $35.7M-12.8% | $41.0M-13.3% | $47.2M+0.5% | $47.0M+0.1% | $46.9M0.0% | $46.9M+0.1% | $46.9M |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | $0 | $0 | N/A |
TWO Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Margin | 36.4%+23.4pp | 13.0%+149.7pp | -136.7%+84.6pp | -221.3%-150.3pp | -71.0%-337.6pp | 266.7%+478.4pp | -211.7%-260.3pp | 48.6% |
| Return on Equity | 1.9%+1.2pp | 0.7%+7.9pp | -7.2%+6.5pp | -13.7%-10.1pp | -3.7%-16.7pp | 13.0%+24.0pp | -11.0%-13.6pp | 2.6% |
| Return on Assets | 0.3%+0.2pp | 0.1%+1.3pp | -1.2%+0.8pp | -2.0%-1.4pp | -0.6%-2.9pp | 2.3%+4.1pp | -1.8%-2.3pp | 0.4% |
| Current Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt-to-Equity | 4.790.0 | 4.79+0.0 | 4.76-0.6 | 5.40+0.0 | 5.37+0.6 | 4.75-0.2 | 4.94+0.1 | 4.85 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
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Frequently Asked Questions
What is Two Hbrs Invt Corp's annual revenue?
Two Hbrs Invt Corp (TWO) reported $412.0M in total revenue for fiscal year 2025. This represents a -8.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Two Hbrs Invt Corp's revenue growing?
Two Hbrs Invt Corp (TWO) revenue declined by 8.5% year-over-year, from $450.2M to $412.0M in fiscal year 2025.
Is Two Hbrs Invt Corp profitable?
No, Two Hbrs Invt Corp (TWO) reported a net income of -$454.3M in fiscal year 2025, with a net profit margin of -110.3%.
How much debt does Two Hbrs Invt Corp have?
As of fiscal year 2025, Two Hbrs Invt Corp (TWO) had $842.3M in cash and equivalents against $8.6B in long-term debt.
What is Two Hbrs Invt Corp's net profit margin?
Two Hbrs Invt Corp (TWO) had a net profit margin of -110.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Two Hbrs Invt Corp pay dividends?
Yes, Two Hbrs Invt Corp (TWO) paid $1.52 per share in dividends during fiscal year 2025.
What is Two Hbrs Invt Corp's return on equity (ROE)?
Two Hbrs Invt Corp (TWO) has a return on equity of -25.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Two Hbrs Invt Corp's operating cash flow?
Two Hbrs Invt Corp (TWO) generated $88.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Two Hbrs Invt Corp's total assets?
Two Hbrs Invt Corp (TWO) had $10.9B in total assets as of fiscal year 2025, including both current and long-term assets.
What is Two Hbrs Invt Corp's debt-to-equity ratio?
Two Hbrs Invt Corp (TWO) had a debt-to-equity ratio of 4.79 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Two Hbrs Invt Corp's return on assets (ROA)?
Two Hbrs Invt Corp (TWO) had a return on assets of -4.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Two Hbrs Invt Corp's Piotroski F-Score?
Two Hbrs Invt Corp (TWO) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Two Hbrs Invt Corp's earnings high quality?
Two Hbrs Invt Corp (TWO) has an earnings quality ratio of -0.20x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Two Hbrs Invt Corp?
Two Hbrs Invt Corp (TWO) scores 4 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.