Uwm Holdings Corporation (UWMCW) Financials
Newest figures come from the 10-Q for Q1 FY2026, filed May 11, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the UWMCW SEC filings page.
Uwm Holdings Corporation (UWMCW) reported $3.4B in revenue over the twelve months to Mar 31, 2026, up 27.6% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 7 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).
Revenue growth is not reaching earnings or cash: rising operating costs and heavier liabilities are reshaping how UWMCW funds its business.
Cash conversion is the central issue: FY2025 net income was$244M , yet operating cash flow was-$2.65B and free cash flow was-$2.72B . Because the gap between operating cash flow and free cash flow was only about$74M , the shortfall came mainly from operations rather than unusually heavy capital spending.
Growth came with earnings compression. Revenue increased
The balance sheet is increasingly liability-funded. Liabilities represented
Financial Health Signals
We do not publish a peer-relative financial health score for Uwm Holdings Corporation, because the score only covers companies whose filings and listing give us what it needs to compare them with their peers. The signals and metrics below are current.
Uwm Holdings Corporation passes 3 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 1 of 4 profitability signals pass, all 1 leverage/liquidity signals pass, the one computable operating efficiency signal (asset turnover improving) passes.
For every $1 of reported earnings, Uwm Holdings Corporation used $10.85 of operating cash (-$2.6B OCF vs $244.0M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely.
Key Financial Metrics
Earnings & Revenue
Uwm Holdings Corporation generated $901.4M in revenue in Q1 2026. This represents an increase of 47.0% from the same quarter a year earlier. Against the prior quarter it is down 4.6%.
Uwm Holdings Corporation reported $25.3M in net income in Q1 2026. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. Against the prior quarter it is up 30.3%.
Not reported for Q1 2026.
Cash & Balance Sheet
Uwm Holdings Corporation recorded an outflow of $2.2B in free cash flow in Q1 2026, representing a cash shortfall after capex. This represents a decrease of 490.4% from the same quarter a year earlier. Against the prior quarter it is down 2842.0%.
Uwm Holdings Corporation held $424.0M in cash against $3.0B in long-term debt as of Q1 2026.
Not reported for Q1 2026.
Margins & Returns
Uwm Holdings Corporation's net profit margin was 2.8% in Q1 2026, showing the share of revenue converted to profit. This is up 5.0 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.8 percentage points.
Uwm Holdings Corporation's quarterly ROE was 1.6% in Q1 2026: one quarter's net income over shareholder equity, not annualized. This is up 2.4 percentage points from the same quarter a year earlier. Against the prior quarter it is down 13.2 percentage points.
Not reported for Q1 2026.
Not reported for Q1 2026.
Capital Allocation
Uwm Holdings Corporation invested $19.1M in capex in Q1 2026, funding long-term assets and infrastructure. This represents an increase of 7.3% from the same quarter a year earlier. Against the prior quarter it is down 12.3%.
Not reported for Q1 2026.
Not reported for Q1 2026.
UWMCW Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $901.4M+47.0% | $945.2M+31.2% | $843.3M+13.1% | $758.7M+21.9% | $613.4M+4.8% | $720.6M-2.6% | $745.6M+10.1% | $622.4M+5.9% |
| SG&A Expenses | $224.6M+16.5% | $224.2M+16.1% | $222.8M+22.8% | $211.5M+31.9% | $192.8M+25.0% | $193.2M+35.5% | $181.5M+34.1% | $160.3M+22.0% |
| Interest Expense | $140.8M+16.9% | $144.8M+1.8% | $132.1M-6.4% | $133.5M+22.8% | $120.4M+22.0% | $142.3M+76.1% | $141.1M+50.6% | $108.7M+31.8% |
| Income Tax | $7.1Mn/m | $5.1M+199.0% | $582K+69.2% | $14.9M+1800.6% | -$13.8M-469.4% | $1.7Mn/m | $344K-53.1% | $786K-35.0% |
| Net Income | $25.3Mn/m | $19.4M+117.6% | -$1.3Mn/m | $22.9M+651.1% | -$13.7M-256.7% | $8.9Mn/m | -$6.3M-134.5% | $3.0M-59.6% |
| EPS (Basic) | $0.09 | N/A | -$0.01 | $0.11 | -$0.08-188.9% | N/A | -$0.06 | $0.03-62.5% |
| EPS (Diluted) | $0.09 | N/A | -$0.01 | $0.11 | -$0.12-233.3% | N/A | -$0.06 | $0.03-62.5% |
| Diluted Shares (Avg) | 1.60B | N/A | 221M | 202M | 1.60B0.0% | N/A | 100M | 95M+2.4% |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, Operating Income, EBITDA.
UWMCW Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $19.3B+37.1% | $16.9B+8.0% | $17.0B+12.6% | $13.9B+7.5% | $14.0B+9.8% | $15.7B+32.0% | $15.1B+23.9% | $12.9B+4.0% |
| Cash & Equivalents | $424.0M-12.6% | $503.4M-0.8% | $870.7M+36.8% | $490.0M-28.0% | $485.0M-19.9% | $507.3M+2.0% | $636.3M-12.8% | $680.2M+7.2% |
| Accounts Receivable | $1.3B+169.1% | $526.7M+26.0% | $548.1M-2.5% | $719.4M+39.2% | $472.3M-14.8% | $418.0M-18.4% | $561.9M+45.6% | $516.8M+48.6% |
| Total Liabilities | $17.7B+42.3% | $15.3B+12.6% | $15.4B+19.3% | $12.1B+14.6% | $12.4B+20.0% | $13.6B+44.9% | $12.9B+42.0% | $10.6B+11.8% |
| Long-Term Debt | $3.0B+7.1% | $3.0B+7.1% | $3.8B+89.0% | $2.8B+39.4% | $2.8B+39.3% | $2.8B+40.1% | $2.0B0.0% | $2.0B0.0% |
| Total Equity | $1.6B-2.1% | $1.6B-22.4% | $1.6B-27.2% | $1.7B-24.9% | $1.6B-33.4% | $2.1B-17.0% | $2.2B-29.5% | $2.3B-21.0% |
| Retained Earnings | $216.8M+35.1% | $189.4M+20.0% | $169.9M+45.8% | $170.3M+53.4% | $160.4M+43.2% | $157.8M+42.6% | $116.6M-10.5% | $111.0M-7.8% |
Not reported in any period shown, so not listed: Current Assets, Short-Term Investments, Inventory, Long-Term Investments, Goodwill, Current Liabilities, Non-Current Liabilities.
UWMCW Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$2.2B-475.5% | $103.8Mn/m | -$3.1Bn/m | -$265.9Mn/m | $593.9Mn/m | -$543.3Mn/m | -$2.2B-729.7% | -$1.3Bn/m |
| Depreciation & Amortization | $15.6M+23.7% | $17.9M+33.7% | $12.7M+9.5% | $12.2M+7.0% | $12.6M+2.5% | $13.4M-6.9% | $11.6M+0.6% | $11.4M-0.3% |
| Stock-Based Compensation | $13.2M+58.4% | N/A | $14.8M+155.2% | $11.6M+197.4% | $8.3M+41.4% | N/A | $5.8M+48.7% | $3.9M+5.4% |
| Capital Expenditures | $19.1M+7.3% | $21.7M+162.1% | $10.4M-15.6% | $24.2M+102.9% | $17.8M+154.8% | $8.3M+21.7% | $12.3M+93.8% | $11.9M+123.5% |
| Free Cash Flow | -$2.2B-490.4% | $82.0Mn/m | -$3.1Bn/m | -$290.1Mn/m | $576.1Mn/m | -$551.6Mn/m | -$2.2B-745.1% | -$1.3Bn/m |
| Investing Cash Flow | $524.3M-43.5% | $160.3M+69.0% | $543.0M+128.7% | $627.9M-40.6% | $928.4M-27.9% | $94.8M-46.6% | $237.4M-59.2% | $1.1B+147.8% |
| Financing Cash Flow | $1.6Bn/m | -$631.4M-297.6% | $2.9B+53.8% | -$357.1M-206.5% | -$1.5B-250.9% | $319.5Mn/m | $1.9Bn/m | $335.3M-74.5% |
| Dividends Paid | $26.8M+70.0% | $23.4M+107.1% | $20.6M+115.5% | $18.8M+97.7% | $15.8M+68.6% | $11.3M+20.8% | $9.6M+2.7% | $9.5M+2.0% |
Not reported in any period shown, so not listed: Share Buybacks.
UWMCW Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Net Margin | 2.8%+5.0pp | 2.1%+0.8pp | -0.1%+0.7pp | 3.0%+2.5pp | -2.2%-3.7pp | 1.2%+12.6pp | -0.8%-3.5pp | 0.5%-0.8pp |
| Return on Equity | 1.6%+2.4pp | 14.8%-1.0pp | -0.1%+0.2pp | 1.3%+1.2pp | -0.8%-1.2pp | 15.8%+19.1pp | -0.3%-0.9pp | 0.1%-0.1pp |
| Return on Assets | 0.1%+0.2pp | 0.1%+0.1pp | 0.0%0.0pp | 0.2%+0.1pp | -0.1%-0.2pp | 0.1%+0.8pp | 0.0%-0.2pp | 0.0%0.0pp |
| Debt-to-Equity | 1.86+0.2x | 1.87+0.5x | 2.38+1.5x | 1.59+0.7x | 1.70+0.9x | 1.36+0.6x | 0.92+0.3x | 0.86+0.2x |
| Liabilities-to-Equity | 11.03+3.4x | 9.62+3.0x | 9.73+3.8x | 6.94+2.4x | 7.59+3.4x | 6.63+2.8x | 5.93+3.0x | 4.55+1.3x |
| Asset Turnover | 0.050.0x | 0.060.0x | 0.050.0x | 0.050.0x | 0.040.0x | 0.050.0x | 0.050.0x | 0.050.0x |
| FCF Margin | -249.5% | 8.7%+85.2pp | -366.4% | -38.2% | 93.9% | -76.5%-31.1pp | -293.8% | -213.5% |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Current Ratio.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: FCF Margin.
Where Uwm Holdings Corporation Ranks
Frequently Asked Questions
Uwm Holdings Corporation (UWMCW) reported $3.2B in total revenue for fiscal year 2025. This represents a 18.2% 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.
Uwm Holdings Corporation (UWMCW) revenue grew by 18.2% year-over-year, from $2.7B to $3.2B in fiscal year 2025.
Yes, Uwm Holdings Corporation (UWMCW) reported a net income of $66.4M over the trailing 12 months to March 31, 2026. In fiscal year 2025 it reported a net income of $244.0M, with a net profit margin of 7.7%.
As of fiscal year 2025, Uwm Holdings Corporation (UWMCW) had $503.4M in cash and equivalents against $3.0B in long-term debt.
Uwm Holdings Corporation (UWMCW) had a net profit margin of 7.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Uwm Holdings Corporation (UWMCW) has a return on equity of 15.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
Uwm Holdings Corporation (UWMCW) recorded an outflow of $2.7B in free cash flow during fiscal year 2025. The change from the previous fiscal year is not meaningful, because that year’s figure was zero or negative. 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.
Uwm Holdings Corporation (UWMCW) recorded an outflow of $2.6B in operating cash flow during fiscal year 2025, representing cash used by core business activities.
Uwm Holdings Corporation (UWMCW) had $16.9B in total assets as of fiscal year 2025, including both current and long-term assets.
Uwm Holdings Corporation (UWMCW) invested $74.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
Uwm Holdings Corporation (UWMCW) had a debt-to-equity ratio of 1.87 as of fiscal year 2025. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.
Uwm Holdings Corporation (UWMCW) had a liabilities-to-equity ratio of 9.62 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity.
Uwm Holdings Corporation (UWMCW) had a return on assets of 1.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
Uwm Holdings Corporation (UWMCW) has a Piotroski F-Score of 3 out of 6 computable signals; 3 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
For every $1 of reported earnings, Uwm Holdings Corporation (UWMCW) used $10.85 of operating cash (-$2.6B OCF vs $244.0M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely. 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.