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

UWM Holdings (UWMC) reported Operating Expenses of $575.4 million for Q1 2026, up 18.49% year-over-year from $485.6 million in Q1 2025, and down 2.38% quarter-over-quarter 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.

  • Operating Expenses for Q1 2026 came in at $575.4 million, up 18.49% year-over-year; the trailing twelve-month figure through Mar 2026 was $2.2 billion (up 16.32% YoY), and the FY2025 annual result was $2.2 billion, up 17.76% from the prior year.
  • Operating Expenses slipped to $575.4 million in Q1 2026 per UWMC's latest filing, from $589.4 million in the prior quarter.
  • Over five years, Operating Expenses peaked at $589.4 million in Q4 2025 and troughed at $300.9 million in Q1 2023.
  • A 5-year average of $434.2 million and a median of $385.7 million in 2024 frame the typical range for Operating Expenses.
  • The sharpest annual moves came in 2023 and 2024: Operating Expenses slipped 17.44% in 2023, then jumped 46.36% in 2024.
  • A 5-year view of Operating Expenses shows it stood at $371.7 million in 2022, then retreated by 4.81% to $353.8 million in 2023, then jumped by 46.36% to $517.9 million in 2024, then climbed by 13.81% to $589.4 million in 2025, then fell by 2.38% to $575.4 million in 2026.
  • Business Quant data shows UWMC's Operating Expenses at $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 34.85 Bn 32.16 Bn - 2.54 Bn
2 PennyMac Financial Services 4.14 Bn 3.65 Bn 523.89 Mn 440.29 Mn
3 Walker & Dunlop 1.73 Bn 1.55 Bn - 275.38 Mn
4 UWM Holdings 743.45 Mn 1.57 Bn - 575.39 Mn
5 Velocity Financial 668.42 Mn 583.96 Mn - 54.34 Mn
6 CNFinance Holdings 591.78 Mn 542.97 Mn - -
7 Better Home & Finance Holding 419.52 Mn 349.24 Mn - 98.41 Mn
8 Onity 306.24 Mn 306.24 Mn - 132.20 Mn
9 loanDepot 209.70 Mn -4.79 Mn - 341.50 Mn
10 Greystone Housing Impact Investors 120.06 Mn 120.06 Mn - 17.75 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