TWO (TWO)

Financial Metrics & Valuation Analysis

Enterprise Valuation (TTM)

Enterprise Value$7.25B
EV / Sales8.44
EV / EBITDA22.77
EV / Operating Cash Flow-59.34
EV / Free Cash Flow-54.41

Return Metrics (TTM)

Return on Equity (ROE)-1.23%
Return on Assets (ROA)-0.25%
Return on Invested Capital (ROIC)4.41%
Return on Capital Employed (ROCE)13.41%

Yield Metrics

Earnings Yield-1.71%
Free Cash Flow Yield-10.49%

Balance Sheet Strength

Net Debt / EBITDA18.78
Current Ratio0.18
Working Capital-$4.60B
Tangible Asset Value-$591.44M
Net Current Asset Value-$6.04B

Working Capital Efficiency

Days Sales Outstanding75.86
Days Payables Outstanding85.00
Operating Cycle (Days)75.86
Cash Conversion Cycle-9.14

Capital Allocation

CapEx / Revenue1.29%
CapEx / Operating Cash Flow-9.06%
R&D / Revenue0.00%
SG&A / Revenue13.74%

Fiscal Year 2025 Ratios

Audited annual results as of 2025-12-31

Margins

Gross Profit Margin97.90%
Operating Margin68.66%
Net Profit Margin-75.02%

Solvency

Debt / Equity4.79
Quick Ratio0.13
Cash Ratio0.10

Per Share

Revenue / Share$5.81
FCF / Share-$0.14
PE Ratio-2.41