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| 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 |