UWM Holdings (UWMC) Operating Expenses (2020 - 2026)

UWM Holdings' (UWMC) quarterly Operating Expenses came in at $575.4 million in Q1 2026, up 18.49% year-on-year from $485.6 million in Q1 2025, and down 2.38% on a QoQ basis from $589.4 million in Q4 2025.

UWM Holdings (UWMC) Operating Expenses (2020 - 2026) Analysis & Trends

UWM Holdings (UWMC) has 7 years of Operating Expenses data on file, last reported at $575.4 million in Q1 2026.

  • On a quarterly basis, Operating Expenses rose 18.49% year-over-year to $575.4 million in Q1 2026; TTM through Mar 2026 was $2.2 billion, a 16.32% increase from a year earlier, with the FY2025 full-year figure at $2.2 billion, up 17.76% from the prior year.
  • Operating Expenses for Q1 2026 stood at $575.4 million, down from $589.4 million in the prior quarter.
  • Over the last five years, Operating Expenses for UWMC reached as high as $589.4 million in Q4 2025 and fell as low as $300.9 million in Q1 2023.
  • Historically, Operating Expenses has averaged $434.2 million across 5 years, with a median of $385.7 million in 2024.
  • Across the five-year window, Operating Expenses retreated 17.44% in 2023 and surged 46.36% in 2024, its largest moves.
  • Year by year, Operating Expenses stood at $371.7 million in 2022, then dropped by 4.81% to $353.8 million in 2023, then jumped by 46.36% to $517.9 million in 2024, then rose by 13.81% to $589.4 million in 2025, then slipped by 2.38% to $575.4 million in 2026.
  • Per Business Quant data, the three most recent Operating Expenses figures were $575.4 million in Q1 2026, $589.4 million in Q4 2025, and $550.6 million in Q3 2025.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 Rocket Companies 38.33 Bn 35.64 Bn - 2.54 Bn
2 Federal National Mortgage Association Fannie Mae 35.67 Bn 35.67 Bn - 2.18 Bn
3 Federal Home Loan Mortgage 18.11 Bn 13.64 Bn - 2.02 Bn
4 PennyMac Financial Services 4.41 Bn 3.76 Bn 523.89 Mn 440.29 Mn
5 CNFinance Holdings 3.28 Bn 3.20 Bn - -
6 Walker & Dunlop 1.64 Bn 1.44 Bn - 275.38 Mn
7 Velocity Financial 681.36 Mn -6.51 Bn - 54.34 Mn
8 UWM Holdings 540.43 Mn 116.43 Mn - 575.39 Mn
9 Better Home & Finance Holding 362.34 Mn 298.07 Mn - 98.41 Mn
10 Onity 340.51 Mn 215.81 Mn - 132.20 Mn

Historic Data

Download Data
DateValue
Mar 31, 2026 575.39 Mn
Dec 31, 2025 589.42 Mn
Sep 30, 2025 550.57 Mn
Jun 30, 2025 526.77 Mn
Mar 31, 2025 485.60 Mn
Dec 31, 2024 517.88 Mn
Sep 30, 2024 494.15 Mn
Jun 30, 2024 430.02 Mn
Mar 31, 2024 385.69 Mn
Dec 31, 2023 353.83 Mn
Sep 30, 2023 375.39 Mn
Jun 30, 2023 357.52 Mn
Mar 31, 2023 300.89 Mn
Dec 31, 2022 371.69 Mn
Sep 30, 2022 353.79 Mn
Jun 30, 2022 348.01 Mn
Mar 31, 2022 364.46 Mn
Dec 31, 2021 373.62 Mn
Sep 30, 2021 356.97 Mn
Jun 30, 2021 344.48 Mn