UWM Holdings (UWMC) Operating Expenses (2020 - 2026)
UWM Holdings' (UWMC) quarterly Operating Expenses came in at $635.0 million in Q2 2026, up 20.56% year-over-year from $526.8 million in Q2 2025, and up 10.37% quarter-over-quarter from $575.4 million in Q1 2026.
Analysis
UWM Holdings (UWMC) Operating Expenses (2020 - 2026) Analysis & Trends
UWM Holdings (UWMC) has reported Operating Expenses for 7 consecutive years, with $635.0 million the latest figure, recorded in Q2 2026.
- On a quarterly basis, Operating Expenses rose 20.56% year-over-year to $635.0 million in Q2 2026; TTM through Jun 2026 was $2.4 billion, a 16.11% increase from a year earlier, with the FY2025 full-year figure at $2.2 billion, up 17.76% from the prior year.
- Operating Expenses was $635.0 million for Q2 2026 at UWM Holdings, up from $575.4 million in the prior quarter.
- Over five years, Operating Expenses peaked at $635.0 million in Q2 2026 and troughed at $300.9 million in Q1 2023.
- A 5-year average of $445.3 million and a median of $407.9 million in 2024 frame the typical range for Operating Expenses.
- Across the five-year window, Operating Expenses decreased 17.44% in 2023 and soared 46.36% in 2024, its largest moves.
- Over 5 years, Operating Expenses stood at $371.7 million in 2022, then fell by 4.81% to $353.8 million in 2023, then soared by 46.36% to $517.9 million in 2024, then advanced by 13.81% to $589.4 million in 2025, then rose by 7.74% to $635.0 million in 2026.
- The last three Operating Expenses figures came in at $635.0 million (Q2 2026), $575.4 million (Q1 2026), and $589.4 million (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Federal National Mortgage Association Fannie Mae | 79.20 Bn | 79.20 Bn | - | 2.07 Bn |
| 2 | Rocket Companies | 37.40 Bn | 34.29 Bn | - | 2.50 Bn |
| 3 | Figure Technology Solutions | 8.09 Bn | 6.55 Bn | 196.67 Mn | 147.85 Mn |
| 4 | PennyMac Financial Services | 3.62 Bn | 2.87 Bn | 480.08 Mn | 465.44 Mn |
| 5 | Federal Agricultural Mortgage | 2.44 Bn | 1.40 Bn | - | 11.59 Mn |
| 6 | CNFinance Holdings | 1.37 Bn | 1.37 Bn | - | - |
| 7 | Walker & Dunlop | 1.34 Bn | 1.18 Bn | - | 304.62 Mn |
| 8 | Velocity Financial | 703.53 Mn | -6.75 Bn | - | 59.75 Mn |
| 9 | UWM Holdings | 453.97 Mn | -44.44 Mn | - | 635.05 Mn |
| 10 | Onity | 294.97 Mn | 98.67 Mn | - | 139.00 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 635.05 Mn |
| 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 |