Two's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Two (TWOA) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Two's Competitor Quality Breadth
Share of each group, trailing 12 months: profitable (net margin > 0), expanding (revenue growth > 0), growing faster than the industry's own median, and financially distressed (Piotroski F-Score of 2 or below).
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Two | - | - | - | Yes |
| Competitors combined (46) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
TWOA Stock Performance relative to its Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Midland States Bancorp Inc | 282.9% | Outperformed |
| 2 | Parke Bancorp Inc | 282.9% | Outperformed |
| 3 | National Bankshares Inc | 282.9% | Outperformed |
| 4 | First Northwest Bancorp | 282.9% | Outperformed |
| 5 | Cathay General Bancorp | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Two's best-performing tracked competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Two's Comment on Competition and Industry Peers
Publicly Traded Peers of Two
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
| Two | 88.23 | - |
| Equifax Inc | 16,786.94 | 6,444.50 |
| First Horizon Corp | 11,090.38 | 3,516.00 |
| American Homes 4 Rent | 11,069.60 | 1,862.98 |
| Evercore Inc | 10,631.49 | 4,741.99 |
| Old National Bancorp | 9,639.26 | 2,536.62 |
| SUBTOTAL | 117,538.01 | 75,987.43 |
Sources: Two's official press releases and regulatory filings; CSIMarket.com's market research; and the financial filings and press releases of the other companies cited.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Two versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Two's Competitors Named by the Company
Competitive relationships identified from SEC filings and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Cathay General Bancorp | Named by the company | 85% |
| Prime Meridian Holding Co | Named by the company | 85% |
| Evercore Inc | Named by the company | 85% |
| First Horizon Corp | Named by the company | 85% |
| Lvpai Group Limited | Named by the company | 85% |
| Vaneck Bitcoin Etf | Named by the company | 85% |
| Two | Named by the company | 85% |
| Athene Holding Ltd | Named by the company | 85% |
| Midland States Bancorp Inc | Named by the company | 85% |
| Bok Financial Corp | Named by the company | 85% |
| Parke Bancorp Inc | Named by the company | 85% |
| Codorus Valley Bancorp Inc | Named by the company | 85% |
| Federated Hermes Inc | Named by the company | 85% |
| First Northwest Bancorp | Named by the company | 85% |
| Greenidge Generation Holdings Inc | Named by the company | 85% |
| Alpha Partners Technology Merger Corp | Named by the company | 85% |
| Mdb Capital Holdings Llc | Named by the company | 85% |
| Bgc Group Inc | Named by the company | 85% |
| Old National Bancorp | Named by the company | 85% |
| Commerce Bancshares Inc | Named by the company | 85% |
| Redwood Trust Inc | Named by the company | 85% |
| F and g Annuities and Life Inc | Named by the company | 85% |
| First Interstate Bancsystem Inc | Named by the company | 85% |
| German American Bancorp Inc | Named by the company | 85% |
| Inventrust Properties Corp | Named by the company | 85% |
| American Homes 4 Rent | Named by the company | 85% |
| Banc Of California Inc | Named by the company | 85% |
| National Health Investors Inc | Named by the company | 85% |
| Brt Apartments Corp | Named by the company | 85% |
| Skyline Bankshares Inc | Named by the company | 85% |
| Equifax Inc | Named by the company | 85% |
| Federal Home Loan Bank Of San Francisco | Named by the company | 85% |
| First Trinity Financial Corporation | Named by the company | 85% |
| Hamilton Lane Incorporated | Named by the company | 85% |
| Argo Group International Holdings Inc | Named by the company | 85% |
| Mainstreet Bancshares Inc | Named by the company | 85% |
| Bank Of Marin Bancorp | Named by the company | 85% |
| Op Bancorp | Named by the company | 85% |
| Connectone Bancorp Inc | Named by the company | 85% |
| Sachem Capital Corp | Named by the company | 85% |
Filing basis, confidence, active dates and source counts for Two's named competitors require a Commercial License.
Methodology: relationships are extracted from SEC filings (named-competitor disclosures) and corroborating sources. Named by the company = explicitly disclosed as a competitor; Inferred = derived from corroborating signals. Confidence reflects evidence strength.
Two's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Equifax Inc | Workforce Solutions 41.49 % |
| Evercore Inc | Investment Banking and Equities 97.29 % |
| Bgc Group Inc | Reportable 100.00 % |
| National Health Investors Inc | Real Estate Investment 63.09 % |
| F and g Annuities and Life Inc | Reportable 100.00 % |
Source: operating segment revenue as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
Two's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Two | 88 | - | - |
| Equifax Inc | 16,787 | 429,633 | 46,420 |
| First Horizon Corp | 11,090 | 475,135 | 144,730 |
| American Homes 4 Rent | 11,070 | 1,165,821 | 339,686 |
| Evercore Inc | 10,631 | 1,845,132 | 314,863 |
| Old National Bancorp | 9,639 | 510,284 | 152,539 |
| PEERS TOTAL | 117,450 | 1,045,478 | 110,214 |
Two's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent filing. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Bgc Group Inc | EMEA 53.51 % |
| Federated Hermes Inc | Non-US 12.64 % |
Source: revenue geography as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
Two's Valuation vs Competitive Position
Valuation multiples vs the Blank Checks industry average (68 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns. See the full Blank Checks industry valuation benchmarks.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | 186.3x | 45.2x | +141.1x |
| EV / EBITDA | 117.8x | 26.4x | +91.4x |
| P/B | -91.6x | 6.7x | -98.3x |
| Return on Equity | -77.70 % | industry aggregate | -91.46 % |
| Return on Invested Capital | -6.20 % | 0.96 % (avg) | -7.16 % |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Two's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in SEC filings.| Metric | 2021 | 2022 | 2023 |
|---|---|---|---|
| Revenue Growth | - | - | - |
| Operating Margin | - | - | - |
| Return on Invested Capital | -0.49 % | -0.65 % | -6.20 % |
| P/E | - | - | 186.3x |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Two's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
No rule matched.
Weaknesses
- Return on equity 91.5 points below the industry aggregate.
- Piotroski F-Score of 2 or below, the standard financial-distress signal.
Opportunities
- Industry revenue growing at a healthy 27.5% median pace.
Threats
No rule matched.
Methodology: mechanical, rule-based SWOT. Each bullet reuses a figure already sourced and cited elsewhere on this page; nothing here is generated narrative or independent analyst judgment.
Two's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Two | 0.00 | 0.00 | - |
| Equifax Inc | 0.08 | 0.63 | 1.12 |
| First Horizon Corp | 0.03 | 0.04 | 0.54 |
| American Homes 4 Rent | 0.14 | 0.23 | 0.63 |
| Evercore Inc | 0.94 | 2.54 | 0.26 |
| Old National Bancorp | - | 0.04 | 0.15 |
Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Two's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Two | Q4 2023 | - | - |
| Equifax Inc | Q2 2026 | +10.6 % | -3.9 % |
| First Horizon Corp | Q2 2026 | +10.9 % | +11.8 % |
| American Homes 4 Rent | Q2 2026 | - | +7.5 % |
| Evercore Inc | Q2 2026 | +19.1 % | -0.4 % |
| Old National Bancorp | Q1 2026 | +46.6 % | +61.5 % |
| PEERS TOTAL | +44.8 % | -18.9 % |
Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Two's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Two | Q4 2023 | - | - |
| Equifax Inc | Q2 2026 | +16.4 % | +10.5 % |
| First Horizon Corp | Q2 2026 | - | +111.1 % |
| American Homes 4 Rent | Q2 2026 | - | 0.0 % |
| Evercore Inc | Q2 2026 | +97.1 % | -58.8 % |
| Old National Bancorp | Q1 2026 | +11.3 % | +122.1 % |
Two's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Two | 1.35% | 2.64% | - |
| Equifax Inc | 5.85% | 6.95% | 15.02% |
| First Horizon Corp | 1.28% | 3.58% | 11.48% |
| American Homes 4 Rent | 4.11% | 4.02% | 7.09% |
| Evercore Inc | 17.22% | 21.62% | 37.32% |
| Old National Bancorp | 1.06% | 4.97% | 9.07% |
ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Two's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Two | 109.61 | - |
| Equifax Inc | 24.84 | 2.60 |
| First Horizon Corp | 11.16 | 3.15 |
| American Homes 4 Rent | 24.33 | 5.94 |
| Evercore Inc | 14.54 | 2.24 |
| Old National Bancorp | 12.67 | 3.80 |
| PEERS AVERAGE | 14.67 | 1.55 |
P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.