Two Harbors Investment (FRA:2H2) Scaled Net Operating Assets: 0.21 (As of Mar. 2026)


FRA:2H2 Two Harbors Investment Corp FRA:2H2
31 GF Score
Price €10.85
! 6 Warning Signs
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What is Two Harbors Investment Scaled Net Operating Assets?

Two Harbors Investment FRA:2H2 +0.09% 31 Scaled Net Operating Assets is 0.21 as of Mar. 2026. GuruFocus rates FRA:2H2 with a GF Score™ of 31/100. The stock has 6 warning signs investors should review.

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

Two Harbors Investment's operating assets for the quarter that ended in Mar. 2026 was €8,699.6 Mil. Two Harbors Investment's operating liabilities for the quarter that ended in Mar. 2026 was €6,713.6 Mil. Two Harbors Investment's Total Assets for the quarter that ended in Dec. 2025 was €9,273.8 Mil. Therefore, Two Harbors Investment's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.21.

FRA:2H2
31GF Score
Two Harbors Investment Corp FRA:2H2
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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Two Harbors Investment Scaled Net Operating Assets Calculation

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

Two Harbors Investment's Scaled Net Operating Assets (SNOA) for the fiscal year that ended in Dec. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(A: Dec. 2025 )
=(Operating Assets (A: Dec. 2025 )-Operating Liabilities (A: Dec. 2025 ))/Total Assets (A: Dec. 2024 )
=(8554.431-6635.279)/11655.125
=0.16

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=9273.771 - 719.34
=8554.431

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=7746.882 - 318.427 - 793.176
=6635.279

Two Harbors Investment's Scaled Net Operating Assets (SNOA) for the quarter that ended in Mar. 2026 is calculated as

Scaled Net Operating Assets (SNOA)(Q: Mar. 2026 )
=(Operating Assets (Q: Mar. 2026 )-Operating Liabilities (Q: Mar. 2026 ))/Total Assets (Q: Dec. 2025 )
=(8699.594-6713.604)/9273.771
=0.21

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=9111.682 - 412.088
=8699.594

Operating Liabilities(Q: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=7613.866 - 96.188 - 804.074
=6713.604

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

What does a Scaled Net Operating Assets of 0.21 mean?
Two Harbors Investment (FRA:2H2) has a Scaled Net Operating Assets of 0.21 as of Mar. 2026. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Two Harbors Investment and its competitors.
Is Two Harbors Investment's Scaled Net Operating Assets too high?
Two Harbors Investment's current Scaled Net Operating Assets is 0.21. Overall, Two Harbors Investment has a GF Score™ of 31/100, reflecting its overall financial health beyond just this single metric.
How does Two Harbors Investment's Scaled Net Operating Assets compare to LADR and ORC?
Two Harbors Investment's Scaled Net Operating Assets of 0.21 can be compared against companies in the REITs industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Scaled Net Operating Assets for a REITs company?
A good Scaled Net Operating Assets depends on the REITs industry context. However, Scaled Net Operating Assets should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Scaled Net Operating Assets mean?
A high Scaled Net Operating Assets can signal that a stock is expensive relative to its fundamentals. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Two Harbors Investment and its competitors. Two Harbors Investment's current Scaled Net Operating Assets is 0.21. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Two Harbors Investment stock overvalued right now?
Two Harbors Investment (FRA:2H2) has a current Scaled Net Operating Assets of 0.21. The current Scaled Net Operating Assets is 0.21. Two Harbors Investment's overall GF Score™ is 31/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Scaled Net Operating Assets calculated?
Scaled Net Operating Assets is calculated from a company's financial statements. For Two Harbors Investment (FRA:2H2), the current Scaled Net Operating Assets is 0.21 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Two Harbors Investment Business Description

Industry Real EstateREITs
Address 1601 Utica Avenue South, Suite 900, St. Louis Park, MN, USA, 55416
Two Harbors Investment Corp is a real estate investment trust focused on investing in, financing, and managing residential mortgage-backed securities, residential mortgage loans, mortgage servicing rights, and commercial real estate. The majority of its investment portfolio is split between agency RMBS purchased from government-sponsored enterprises and nonagency RMBS. The company derives revenues mainly from its MSR and Agency RMBS portfolio, including servicing fee income, float income, and interest income, as well as mortgage loan origination activities established to support the MSR portfolio. Its investment portfolio is subject to market risks, mainly interest rate, basis, and prepayment risk. The majority of income is generated by available-for-sale securities.
31GF Score

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