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| Date | Value |
|---|---|
| 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 |