Uwm Holdings Corporation Financials

UWMC

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

Financial Health Signals

Financial Profile 41/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Growth

100

Uwm Holdings Corporation's revenue surged 65.0% year-over-year to $2.2B, reflecting rapid business expansion. This strong growth earns a score of 100/100.

Leverage

Uwm Holdings Corporation has a moderate D/E ratio of 1.36. This balance of debt and equity financing earns a leverage score of 61/100.

Cash Flow

While Uwm Holdings Corporation generated -$6.2B in operating cash flow, capex of $39.5M consumed most of it, leaving -$6.3B in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.

Returns

Uwm Holdings Corporation generates a 0.7% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 3/100.

Piotroski F-Score Weak

3/9

Uwm Holdings Corporation 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.

Earnings Quality Low Quality

-433.32x

For every $1 of reported earnings, Uwm Holdings Corporation generates $-433.32 in operating cash flow (-$6.2B OCF vs $14.4M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

This page shows Uwm Holdings Corporation (UWMC) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 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).

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Key Financial Metrics

Revenue

$2.2B

YoY+65.0%

5Y CAGR+11.1%

Uwm Holdings Corporation generated $2.2B in revenue in fiscal year 2024. This represents an increase of 65.0% from the prior year.

EBITDA

N/A

Free Cash Flow

-$6.3B

YoY-4624.9%

Uwm Holdings Corporation generated -$6.3B in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 4624.9% from the prior year.

Net Income

$14.4M

YoY+208.9%

5Y CAGR-48.9%

Uwm Holdings Corporation reported $14.4M in net income in fiscal year 2024. This represents an increase of 208.9% from the prior year.

EPS (Diluted)

$0.13

YoY+192.9%

Uwm Holdings Corporation earned $0.13 per diluted share (EPS) in fiscal year 2024. This represents an increase of 192.9% from the prior year.

Cash & Debt

$507.3M

YoY+2.0%

5Y CAGR+1252.7%

Uwm Holdings Corporation held $507.3M in cash against $2.8B in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

N/A

Gross Margin

N/A

Operating Margin

N/A

Net Margin

0.7%

YoY+1.7pp

5Y CAGR-31.8pp

Uwm Holdings Corporation's net profit margin was 0.7% in fiscal year 2024, showing the share of revenue converted to profit. This is up 1.7 percentage points from the prior year.

Return on Equity

0.7%

Uwm Holdings Corporation's ROE was 0.7% in fiscal year 2024, measuring profit generated per dollar of shareholder equity.

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$39.5M

YoY+49.3%

5Y CAGR+18.7%

Uwm Holdings Corporation invested $39.5M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 49.3% from the prior year.

UWMC Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$2.2B+65.0%	$1.3B-44.7%	$2.4B-20.1%	$3.0B-39.9%	$4.9B+286.3%	$1.3B
Cost of Revenue	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
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	-$6.8M	N/A
Interest Expense	$490.8M+53.2%	$320.3M+4.7%	$306.0M+0.4%	$304.7M+82.4%	$167.0M+1.8%	$164.1M
Income Tax	$6.6M+201.1%	-$6.5M-331.6%	$2.8M-71.4%	$9.8M+301.7%	$2.5M	$0
Net Income	$14.4M+208.9%	-$13.2M-131.7%	$41.7M-57.6%	$98.4M+1795.2%	-$5.8M-101.4%	$415.1M
EPS (Diluted)	$0.13+192.9%	$-0.14-131.1%	$0.45-31.8%	$0.66	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Revenue	$843.3M+11.1%	$758.7M+23.7%	$613.4M+191.9%	$210.2M-66.2%	$622.4M+6.3%	$585.5M	N/A	$677.1M
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	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$132.1M-1.0%	$133.5M+10.8%	$120.4M-15.4%	$142.3M+31.0%	$108.7M+10.1%	$98.7M	N/A	$93.7M
Income Tax	$582K-96.1%	$14.9M+208.3%	-$13.8M-902.1%	$1.7M+118.7%	$786K-78.9%	$3.7M	N/A	$734K
Net Income	-$1.3M-105.5%	$22.9M+267.5%	-$13.7M-253.4%	$8.9M+192.4%	$3.0M-65.1%	$8.7M	N/A	$18.2M
EPS (Diluted)	$-0.01-109.1%	$0.11+191.7%	$-0.12-271.4%	$0.07+133.3%	$0.03-66.7%	$0.09	N/A	$0.15

UWMC Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$15.7B+32.0%	$11.9B-12.7%	$13.6B-39.6%	$22.5B+96.0%	$11.5B+2786237.7%	$412K
Current Assets	N/A	N/A	N/A	N/A	$234K-43.2%	$412K
Cash & Equivalents	$507.3M+2.0%	$497.5M-29.4%	$704.9M-3.6%	$731.1M-40.3%	$1.2B+109271060.7%	$1K
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$418.0M-18.4%	$512.1M+33.6%	$383.1M-7.8%	$415.7M+63.9%	$253.6M+55.1%	$163.5M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$13.6B+44.9%	$9.4B-9.9%	$10.4B-46.1%	$19.4B+68.5%	$11.5B+2693589.0%	$426K
Current Liabilities	N/A	N/A	N/A	N/A	$5.2M+1118.7%	$426K
Long-Term Debt	$2.8B+40.1%	$2.0B-0.6%	$2.0B0.0%	$2.0B+150.0%	$800.0M	N/A
Total Equity	$2.1B-17.0%	$2.5B-22.0%	$3.2B0.0%	$3.2B+63319.9%	$5.0M+35809.2%	-$14K
Retained Earnings	$157.8M+42.6%	$110.7M-22.3%	$142.5M+0.5%	$141.8M-94.0%	$2.3B+6023998.8%	-$39K

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Total Assets	$17.0B+22.6%	$13.9B-1.1%	$14.0B-10.4%	$15.7B+21.3%	$12.9B+1.0%	$12.8B+7.8%	$11.9B-2.7%	$12.2B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$870.7M+77.7%	$490.0M+1.0%	$485.0M-4.4%	$507.3M-25.4%	$680.2M+12.3%	$605.6M+21.7%	$497.5M-31.8%	$729.6M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$548.1M-23.8%	$719.4M+52.3%	$472.3M+13.0%	$418.0M-19.1%	$516.8M-6.8%	$554.4M+8.3%	$512.1M+32.7%	$385.9M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$15.4B+27.2%	$12.1B-2.2%	$12.4B-8.8%	$13.6B+28.6%	$10.6B+2.4%	$10.3B+10.0%	$9.4B+3.1%	$9.1B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$3.8B+35.6%	$2.8B0.0%	$2.8B0.0%	$2.8B+39.3%	$2.0B0.0%	$2.0B+0.6%	$2.0B-0.6%	$2.0B
Total Equity	$1.6B-9.2%	$1.7B+6.9%	$1.6B-20.4%	$2.1B-11.8%	$2.3B-5.2%	$2.5B-0.7%	$2.5B-20.0%	$3.1B
Retained Earnings	$169.9M-0.2%	$170.3M+6.2%	$160.4M+1.6%	$157.8M+42.2%	$111.0M-0.9%	$112.0M+1.2%	$110.7M-15.0%	$130.2M

UWMC Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	-$6.2B-3877.1%	$165.2M-98.0%	$8.3B+183.0%	-$10.0B-17750.4%	$56.4M+101.6%	-$3.5B
Capital Expenditures	$39.5M+49.3%	$26.4M-0.7%	$26.6M-59.3%	$65.4M+14.1%	$57.3M+241.5%	$16.8M
Free Cash Flow	-$6.3B-4624.9%	$138.8M-98.3%	$8.2B+182.2%	-$10.0B-1144003.5%	-$876K+100.0%	-$3.5B
Investing Cash Flow	$2.7B+46.2%	$1.8B+41.8%	$1.3B+546.0%	$199.8M-13.9%	$231.9M-59.8%	$577.4M
Financing Cash Flow	$3.6B+262.3%	-$2.2B+77.0%	-$9.6B-203.5%	$9.3B+1054.8%	$802.3M-73.3%	$3.0B
Dividends Paid	$39.7M+6.7%	$37.2M+0.8%	$36.9M+20.6%	$30.6M	$0	$0
Share Buybacks	N/A	$0	$0-100.0%	$81.6M	$0	$0

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Operating Cash Flow	-$3.1B-1058.2%	-$265.9M-144.8%	$593.9M+209.3%	-$543.3M+58.8%	-$1.3B+40.2%	-$2.2B-569.0%	-$329.3M-195.2%	$345.9M
Capital Expenditures	$10.4M-57.2%	$24.2M+36.2%	$17.8M+114.2%	$8.3M-30.5%	$11.9M+71.0%	$7.0M+2.3%	$6.8M+7.7%	$6.3M
Free Cash Flow	-$3.1B-965.2%	-$290.1M-150.3%	$576.1M+204.5%	-$551.6M+58.5%	-$1.3B+39.9%	-$2.2B-557.5%	-$336.1M-199.0%	$339.6M
Investing Cash Flow	$543.0M-13.5%	$627.9M-32.4%	$928.4M+879.2%	$94.8M-91.0%	$1.1B-18.0%	$1.3B+624.8%	$177.6M-69.5%	$581.6M
Financing Cash Flow	$2.9B+916.9%	-$357.1M+76.9%	-$1.5B-583.5%	$319.5M-4.7%	$335.3M-67.2%	$1.0B+1371.1%	-$80.5M+90.3%	-$832.5M
Dividends Paid	$20.6M+9.7%	$18.8M+18.9%	$15.8M+39.6%	$11.3M+19.2%	$9.5M+1.4%	$9.4M0.0%	$9.4M+0.6%	$9.3M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

UWMC Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	-0.1%	N/A
Net Margin	0.7%+1.7pp	-1.0%-2.8pp	1.8%-1.5pp	3.3%+3.4pp	-0.1%-32.6pp	32.5%
Return on Equity	0.7%	N/A	1.3%-1.8pp	3.1%	N/A	N/A
Return on Assets	0.1%+0.2pp	-0.1%-0.4pp	0.3%-0.1pp	0.4%+0.5pp	-0.1%-100621.4pp	100621.3%
Current Ratio	N/A	N/A	N/A	N/A	0.05-0.9	0.97
Debt-to-Equity	1.36+0.6	0.80+0.2	0.630.0	0.63-159.4	160.00+190.5	-30.46
FCF Margin	-290.3%-300.9pp	10.6%-336.8pp	347.4%+684.8pp	-337.4%-337.4pp	-0.0%+274.8pp	-274.8%

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
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	-0.1%-3.2pp	3.0%+5.3pp	-2.2%-6.5pp	4.2%+3.8pp	0.5%-1.0pp	1.5%	N/A	2.7%
Return on Equity	N/A	1.3%	N/A	0.4%+0.3pp	0.1%-0.2pp	0.4%	N/A	0.6%
Return on Assets	-0.0%-0.2pp	0.2%+0.3pp	-0.1%-0.2pp	0.1%+0.0pp	0.0%-0.1pp	0.1%	N/A	0.1%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	2.38+0.8	1.59-0.1	1.70+0.3	1.36+0.5	0.86+0.0	0.81+0.0	0.80+0.2	0.65
FCF Margin	-366.4%-328.2pp	-38.2%-132.2pp	93.9%+356.4pp	-262.4%-48.9pp	-213.5%+163.8pp	-377.4%	N/A	50.1%

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Frequently Asked Questions

What is Uwm Holdings Corporation's annual revenue?

Uwm Holdings Corporation (UWMC) reported $2.2B in total revenue for fiscal year 2024. This represents a 65.0% 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 Uwm Holdings Corporation's revenue growing?

Uwm Holdings Corporation (UWMC) revenue grew by 65% year-over-year, from $1.3B to $2.2B in fiscal year 2024.

Is Uwm Holdings Corporation profitable?

Yes, Uwm Holdings Corporation (UWMC) reported a net income of $14.4M in fiscal year 2024, with a net profit margin of 0.7%.

What is Uwm Holdings Corporation's earnings per share (EPS)?

Uwm Holdings Corporation (UWMC) reported diluted earnings per share of $0.13 for fiscal year 2024. This represents a 192.9% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

How much debt does Uwm Holdings Corporation have?

As of fiscal year 2024, Uwm Holdings Corporation (UWMC) had $507.3M in cash and equivalents against $2.8B in long-term debt.

What is Uwm Holdings Corporation's net profit margin?

Uwm Holdings Corporation (UWMC) had a net profit margin of 0.7% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Uwm Holdings Corporation's return on equity (ROE)?

Uwm Holdings Corporation (UWMC) has a return on equity of 0.7% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is Uwm Holdings Corporation's free cash flow?

Uwm Holdings Corporation (UWMC) generated -$6.3B in free cash flow during fiscal year 2024. This represents a -4624.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Uwm Holdings Corporation's operating cash flow?

Uwm Holdings Corporation (UWMC) generated -$6.2B in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Uwm Holdings Corporation's total assets?

Uwm Holdings Corporation (UWMC) had $15.7B in total assets as of fiscal year 2024, including both current and long-term assets.

What are Uwm Holdings Corporation's capital expenditures?

Uwm Holdings Corporation (UWMC) invested $39.5M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

What is Uwm Holdings Corporation's debt-to-equity ratio?

Uwm Holdings Corporation (UWMC) had a debt-to-equity ratio of 1.36 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Uwm Holdings Corporation's return on assets (ROA)?

Uwm Holdings Corporation (UWMC) had a return on assets of 0.1% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Uwm Holdings Corporation's cash runway?

Based on fiscal year 2024 data, Uwm Holdings Corporation (UWMC) had $507.3M in cash against an annual operating cash burn of $6.2B. This gives an estimated cash runway of approximately 1 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is Uwm Holdings Corporation's Piotroski F-Score?

Uwm Holdings Corporation (UWMC) 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Uwm Holdings Corporation's earnings high quality?

Uwm Holdings Corporation (UWMC) has an earnings quality ratio of -433.32x, considered low quality (accrual-driven). 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 Uwm Holdings Corporation?

Uwm Holdings Corporation (UWMC) scores 41 out of 100 on our Financial Profile, indicating moderate 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.