UWM Holdings Corp UWMC

Financials SIC 6162 - Mortgage Bankers & Loan Correspondents NAICS Finance and Insurance › Credit Intermediation and Related Activities derived NYSE

Unless otherwise indicated or the context otherwise requires, when used in this Annual Report, the term "UWMC" means UWM Holdings Corporation, "UWM" means United Wholesale Mortgage, LLC and the "Company," "we," "our" and "us" refer to UWM Holdings Corporation and our subsidiaries.

We are the publicly traded indirect parent of United Wholesale Mortgage, LLC ("UWM"). UWM is the largest overall residential mortgage lender as well as the largest purchase lender in the U.S., by closed loan volume, despite originating loans exclusively through the wholesale channel. We originate primarily conforming and government loans across all 50 states and the District of Columbia.

Founded in 1986 and headquartered in Pontiac, Michigan, we have built a client-focused, team-oriented culture that strives to bring superior customer service, efficiency and operational stability to our clients, the Independent Mortgage Brokers. After being privately owned for 35 years, on January 21, 2021, UWM completed its business combination with Gores Holdings IV, Inc. and changed its name to UWM Holdings Corporation. We began trading on the New York Stock Exchange ("NYSE") on January 22, 2021 under the ticker symbol "UWMC".

Last close 1.45 2026-10-23
Market cap $489.4M estimated share count
52-week range 0.93 - 6.15

Valuation FY2025 figures against the last close

P/S0.2x
P/E12.1x
P/FCF—
EV/EBITDA—
Dividend yield16.1%
Diluted EPS0.12

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019
Revenue $3.16B$2.67B$2.17B$2.37B$2.97B$4.94B$1.28B
Total operating expenses $2.15B$1.83B$1.39B$1.44B$1.39B$1.55B$863.4M
Operating income —————-$6.8M—
Interest expense ——$320.3M$306.0M$304.7M$167.0M$164.1M
Pre-tax income $250.9M$336.0M-$76.3M$934.7M$1.58B$3.38B$415.1M
Income tax $6.9M$6.6M$6.5M$2.8M$9.8M$2.5M$0
Net income $244.0M$329.4M-$69.8M$931.9M$1.57B$3.38B$415.1M
EPS, basic 0.130.13-0.140.450.98——
EPS, diluted 0.120.13-0.140.450.66-0.12—
Shares, diluted (wtd. avg.) 1.60B111.4M93.2M92.5M1.60B——

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019
Cash and equivalents $503.4M$507.3M$497.5M$704.9M$731.1M$1.22B$1.1K
Total current assets —————$234.5K$412.5K
Property, plant and equipment $180.2M$146.2M$146.4M$152.5M$151.7M$107.6M—
Total assets $16.93B$15.67B$11.87B$13.60B$22.53B$11.49B$412.5K
Total current liabilities —————$5.2M$426.5K
Long-term debt $2.98B$2.79B$1.99B$2.00B$2.00B$800.0M—
Total liabilities $15.34B$13.62B$9.40B$10.43B$19.36B$9.12B$426.5K
Retained earnings $189.4M$157.8M$110.7M$142.5M$141.8M$2.35B-$39.0K
Total equity $1.59B$2.05B$2.47B$3.17B$3.17B$2.37B$661.3M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019
Operating cash flow -$2.65B-$6.24B$165.2M$8.27B-$9.96B$56.4M-$3.50B
Depreciation and amortisation $55.5M$48.8M$50.1M$49.4M$38.0M——
Stock-based compensation $50.4M$24.6M$13.8M$7.5M$6.5M$0$0
Capital expenditure $74.0M$39.5M$26.4M$26.6M$65.4M$57.3M$16.8M
Investing cash flow $2.26B$2.68B$1.83B$1.29B$199.8M$231.9M$577.4M
Financing cash flow $384.0M$3.58B-$2.20B-$9.58B$9.26B$802.3M$3.01B
Dividends paid $78.6M$39.7M$37.2M$36.9M$30.6M$0$0
Buybacks ——$0$0$81.6M$0$0

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-176695.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -2B 0 2B 4B 6B Revenue, FY2019: 1.3B Net income, FY2019: 415.1M Revenue, FY2020: 4.9B Net income, FY2020: 3.4B Revenue, FY2021: 3B Net income, FY2021: 1.6B Revenue, FY2022: 2.4B Net income, FY2022: 931.9M Revenue, FY2023: 2.2B Net income, FY2023: -69.8M Revenue, FY2024: 2.7B Net income, FY2024: 329.4M Revenue, FY2025: 3.2B Net income, FY2025: 244M FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $1.28B $4.94B $2.97B $2.37B $2.17B $2.67B $3.16B
Gross profit — — — — — — —
Net income $415.1M $3.38B $1.57B $931.9M -$69.8M $329.4M $244.0M

Recent filings and events

  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Regulation FD disclosure Item 7.01
  • Regulation FD disclosure Item 7.01
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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