UWM Holdings Corporation (UWMC) Balance Sheet
UWMC balance sheet, 2025
December 31, 2025 · U.S. dollars$16.93B assets = $15.34B liabilities + $1.59B equity
Both columns are drawn to the same scale: what UWMC owns equals what it owes plus shareholders’ equity. Hover a block for its value.
UWMC financial health
Descriptive bands, not a rating. Fiscal 2025.
UWMC balance sheet trends, 2017–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $2.17B2017 | $16.93B2025 | +29.3%/yr | |
| Total liabilities | $1.94B2017 | $15.34B2025 | +29.5%/yr | |
| Shareholders’ equity | $233.1M2017 | $199.5M2025 | −1.9%/yr | |
| Cash & short-term investments | $68.7M2017 | $503.4M2025 | +28.3%/yr | |
| Total debt | $1.78B2017 | $14.44B2025 | +29.9%/yr | |
| Net cash (debt) | −$1.71B2017 | −$13.94B2025 | −$12.2B | |
| Working capital | $1.80B2017 | −$1.05B2025 | −$2.8B | |
| Book value per share | $2.262017 | $0.942025 | −10.3%/yr | |
| Current ratio | 12.212017 | 0.672025 | −11.54 | |
| Debt / equity | 7.632017 | 72.372025 | +64.74 | |
| Shares outstanding | 103.1M2017 | 211.4M2025 | +9.4%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
UWMC assets
UWMC liabilities and equity
UWMC debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
UWMC balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Cash & short-term investments | $503.4M | $507.3M | $497.5M | $704.9M | $818.2M | $1.22B | $133.3M | $42.1M | $68.7M |
| Cash & equivalents | $503.4M | $507.3M | $497.5M | $704.9M | $704.9M | $1.22B | $133.3M | $42.1M | $68.7M |
| Short-term investments | $100.5M | $103.0M | $110.4M | $113.3M | $113.3M | $152.3M | — | — | — |
| Receivables | $1.66B | $418.0M | $512.1M | $383.1M | $425.4M | $253.6M | $22.9M | $2.57B | $1.87B |
| Inventory | $0 | $0 | −$29.6M | −$7.9M | −$24.9M | −$60.2M | $1 | $0 | $0 |
| Other current assets | $0 | $0 | $206.6M | $170.8M | $0 | $115.3M | $5.61B | $44.6M | $16.4M |
| Total current assets | $2.16B | $925.3M | $1.19B | $1.25B | $1.20B | $1.53B | $5.77B | $2.65B | $1.96B |
| Property, plant & equipment (net) | $295.8M | $263.1M | $274.7M | $298.9M | $256.7M | $223.6M | $140.8M | $48.6M | $763,000 |
| Goodwill & intangible assets | $4.07B | $3.97B | $4.03B | $4.45B | $4.45B | $1.76B | $731.4M | $368.1M | $207.5M |
| Long-term investments | $100.5M | $103.0M | $110.4M | $7.56B | $17.54B | $0 | $0 | $0 | $0 |
| Other non-current assets | $10.30B | $10.41B | $6.27B | $34.2M | $0 | $7.98B | $14.1M | $10.5M | $7.1M |
| Total assets | $16.93B | $15.67B | $11.87B | $13.60B | $13.60B | $11.49B | $6.65B | $3.08B | $2.17B |
| Liabilities | |||||||||
| Accounts payable | $236.9M | $174.8M | $167.6M | $138.7M | $439.7M | $847.7M | $250.0M | $186.1M | $118.6M |
| Short-term debt | $3.21B | $9.84B | $6.51B | $7.54B | $7.19B | $7.26B | $142.5M | $2.11B | — |
| Deferred revenue | — | — | $2.07B | — | — | — | −$250.0M | — | — |
| Total current liabilities | $3.21B | $10.14B | $6.77B | $7.76B | $439.7M | $8.11B | $447.9M | $2.36B | $160.2M |
| Long-term debt | $3.07B | $2.88B | $2.08B | $2.14B | $2.14B | $815.9M | $0 | $0 | $0 |
| Lease obligations | $124.1M | $125.5M | $136.7M | $154.8M | $170.2M | $127.7M | — | — | — |
| Other long-term liabilities | $9.06B | $599.4M | $543.6M | $535.6M | $7.85B | $193.9M | $5.54B | $399.9M | $1.78B |
| Total liabilities | $15.34B | $13.62B | $9.40B | $10.43B | $10.43B | $9.12B | $5.99B | $2.76B | $1.94B |
| Shareholders' equity | |||||||||
| Common stock & paid-in capital | $160,000 | $160,000 | $160,000 | $159,000 | $159,000 | $159,000 | $1,150 | — | — |
| Retained earnings (deficit) | $189.4M | $157.8M | $110.7M | $142.5M | $142.5M | $2.35B | $636.5M | $294.2M | $208.3M |
| Accumulated other comprehensive income | — | — | $0 | $0 | $3.17B | −$400.5M | $0 | — | — |
| Minority interest | $1.39B | $1.89B | $2.36B | $3.03B | $3.03B | — | — | — | — |
| Total shareholders' equity | $199.5M | $161.5M | $112.6M | $143.6M | $3.17B | $2.37B | $661.3M | $319.1M | $233.1M |
| Key figures | |||||||||
| Total debt | $14.44B | $12.84B | $8.73B | $9.78B | $9.43B | $8.21B | $5.69B | $2.51B | $1.78B |
| Net cash (debt) | −$13.94B | −$12.33B | −$8.23B | −$9.08B | −$8.62B | −$6.98B | −$5.55B | −$2.47B | −$1.71B |
| Working capital | −$1.05B | −$9.22B | −$5.58B | −$6.51B | $761.6M | −$6.58B | $5.32B | $291.8M | $1.80B |
| Tangible book value | −$3.87B | −$3.81B | −$3.91B | −$4.31B | −$1.28B | $617.4M | −$70.0M | −$49.1M | $25.6M |
| Book value per share | $0.94 | $1.45 | $1.21 | $1.55 | $34.62 | $23.03 | $6.41 | $3.09 | $2.26 |
| Shares outstanding | 211.4M | 111.4M | 93.2M | 92.5M | 91.6M | 103.1M | 103.1M | 103.1M | 103.1M |
| Current ratio | 0.67 | 0.09 | 0.18 | 0.16 | 2.73 | 0.19 | 12.88 | 1.12 | 12.21 |
| Quick ratio | 0.67 | 0.09 | 0.15 | 0.14 | 2.83 | 0.18 | 0.35 | 1.10 | 12.11 |
| Debt / equity | 72.37 | 79.50 | 77.54 | 68.12 | 2.97 | 3.46 | 8.60 | 7.88 | 7.63 |
| Equity / assets | 1.2% | 1.0% | 0.9% | 1.1% | 23.3% | 20.7% | 9.9% | 10.4% | 10.7% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $498.4M | $424.0M | $503.4M | $870.7M | $490.0M | $485.0M | $507.3M | $636.3M | $680.2M | $714.0M | $497.5M | $834.1M |
| Cash & equivalents | $498.4M | $424.0M | $503.4M | $870.7M | $490.0M | $485.0M | $507.3M | $636.3M | $680.2M | $605.6M | $497.5M | $729.6M |
| Short-term investments | — | $98.5M | $100.5M | $101.3M | $101.6M | $750.8M | $103.0M | $109.0M | $116.5M | $108.3M | $856.9M | $104.5M |
| Receivables | $531.8M | $2.40B | $1.66B | $548.1M | $719.4M | $472.3M | $418.0M | $561.9M | $516.8M | $581.3M | $512.1M | $417.7M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | −$12.2M | $1.71B | −$29.6M | −$7.0M |
| Other current assets | $10.56B | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $12.2M | $0 | $206.6M | $0 |
| Total current assets | $11.59B | $2.82B | $2.16B | $1.42B | $1.21B | $957.3M | $925.3M | $1.20B | $1.20B | $1.27B | $1.19B | $1.22B |
| Property, plant & equipment (net) | $285.6M | $293.8M | $295.8M | $282.2M | $279.3M | $268.8M | $263.1M | $267.1M | $268.3M | $243.1M | $274.7M | $246.9M |
| Goodwill & intangible assets | $5.31B | $4.59B | $4.07B | $3.31B | $3.45B | $3.32B | $3.97B | $2.80B | $2.65B | $3.19B | $4.03B | $4.35B |
| Long-term investments | $96.0M | $98.5M | $100.5M | $101.3M | $101.6M | $103.0M | $103.0M | $109.0M | $105.6M | $108.3M | $110.4M | $104.5M |
| Other non-current assets | $661.4M | $11.46B | $10.30B | $11.91B | $8.85B | $9.40B | $10.41B | $10.75B | $8.70B | $7.99B | $6.27B | $6.28B |
| Total assets | $17.94B | $19.27B | $16.93B | $17.02B | $13.89B | $14.05B | $15.67B | $15.12B | $12.92B | $12.80B | $11.87B | $12.20B |
| Liabilities | ||||||||||||
| Accounts payable | $882.0M | $218.9M | $236.9M | $214.5M | $201.0M | $226.2M | $174.8M | $197.2M | $176.7M | $218.0M | $167.6M | $503.9M |
| Short-term debt | $11.54B | $13.02B | $3.21B | $11.33B | $9.04B | $9.37B | $9.84B | $9.90B | $7.71B | $200.0M | $6.51B | $5.57B |
| Deferred revenue | — | — | — | — | — | — | — | — | $2.19B | — | — | — |
| Total current liabilities | $11.60B | $13.77B | $3.21B | $11.68B | $9.39B | $9.73B | $10.14B | $10.24B | $8.02B | $418.0M | $6.77B | $6.07B |
| Long-term debt | $3.07B | $3.07B | $3.07B | $3.07B | $2.08B | $2.08B | $2.88B | $2.08B | $2.08B | $2.08B | $2.08B | $2.08B |
| Lease obligations | $119.5M | $121.8M | $124.1M | $125.7M | $121.3M | $123.5M | $125.5M | $127.7M | $130.0M | $133.2M | $136.7M | $140.7M |
| Other long-term liabilities | $1.18B | $822.3M | $9.06B | $691.3M | $673.2M | $606.9M | $599.4M | $616.6M | $488.6M | $182.5M | $543.6M | $140.7M |
| Total liabilities | $16.96B | $17.67B | $15.34B | $15.44B | $12.14B | $12.41B | $13.62B | $12.94B | $10.59B | $10.34B | $9.40B | $9.11B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $34,000 | $160,000 | $160,000 | $160,000 | $160,000 | $160,000 | $160,000 | $160,000 | $160,000 | $159,000 | $160,000 | $160,000 |
| Retained earnings (deficit) | $118.6M | $216.8M | $189.4M | $169.9M | $170.3M | $160.4M | $157.8M | $116.6M | $111.0M | $112.0M | $110.7M | $130.2M |
| Accumulated other comprehensive income | — | — | — | — | — | — | — | — | — | — | $0 | — |
| Minority interest | $851.5M | $1.37B | $1.39B | $1.41B | $1.57B | — | — | — | — | — | — | — |
| Total shareholders' equity | $133.7M | $229.5M | $199.5M | $177.7M | $176.2M | $164.9M | $161.5M | $119.4M | $113.5M | $114.2M | $112.6M | $131.9M |
| Key figures | ||||||||||||
| Total debt | $14.65B | $16.22B | $14.44B | $14.53B | $11.24B | $11.57B | $12.84B | $12.11B | $9.92B | $2.42B | $8.73B | $7.79B |
| Net cash (debt) | −$14.15B | −$15.79B | −$13.94B | −$13.66B | −$10.75B | −$11.09B | −$12.33B | −$11.48B | −$9.24B | −$1.70B | −$8.23B | −$6.96B |
| Working capital | −$14.0M | −$10.95B | −$1.05B | −$10.26B | −$8.18B | −$8.77B | −$9.22B | −$9.04B | −$6.83B | $850.4M | −$5.58B | −$4.85B |
| Tangible book value | −$5.18B | −$4.36B | −$3.87B | −$3.13B | −$3.27B | −$3.16B | −$3.81B | −$2.68B | −$2.54B | −$3.08B | −$3.91B | −$4.22B |
| Book value per share | $0.63 | $1.09 | $0.78 | $0.80 | $0.87 | $1.07 | $1.04 | $1.20 | $1.19 | $1.22 | $1.21 | $1.42 |
| Shares outstanding | 211.4M | 211.4M | 256.9M | 221.4M | 202.1M | 153.9M | 155.6M | 99.8M | 95.4M | 93.7M | 93.2M | 93.1M |
| Current ratio | 1.00 | 0.20 | 0.67 | 0.12 | 0.13 | 0.10 | 0.09 | 0.12 | 0.15 | 3.03 | 0.18 | 0.20 |
| Quick ratio | 0.09 | 0.20 | 0.67 | 0.12 | 0.13 | 0.10 | 0.09 | 0.12 | 0.15 | 3.10 | 0.15 | 0.21 |
| Debt / equity | 109.53 | 70.65 | 72.37 | 81.76 | 63.80 | 70.19 | 79.50 | 101.47 | 87.42 | 21.16 | 77.54 | 59.09 |
| Equity / assets | 0.7% | 1.2% | 1.2% | 1.0% | 1.3% | 1.2% | 1.0% | 0.8% | 0.9% | 0.9% | 0.9% | 1.1% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 25, 2026); data from EODHD.
UWMC financial position
At the end of fiscal 2025 (December 31, 2025), UWM had total assets of $16.9 billion (up 8.0% from a year earlier), total liabilities of $15.3 billion and shareholders' equity of $199.5 million. It held $503.4 million in cash and short-term investments against $14.4 billion of debt, net debt of $13.9 billion. Its current ratio was 0.67. In the latest quarter (ended June 30, 2026) total assets were $17.9 billion and equity $133.7 million.
Related: UWMC income statement, UWMC cash flow statement, UWMC key metrics. See the UWMC stock overview for the latest quote and news.
UWMC balance sheet FAQ
What are UWM's total assets?
UWM reported total assets of $16.9 billion at the end of fiscal 2025 (December 31, 2025), compared with $15.7 billion a year earlier.
How much debt does UWM have?
UWM had $14.4 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 72.37.
How much cash does UWM have?
UWM held $503.4 million in cash and short-term investments at the end of fiscal 2025; with $14.4 billion of debt that is net debt of $13.9 billion.
What is UWM's book value?
UWM's shareholders' equity (book value) was $199.5 million at the end of fiscal 2025, or $0.94 per share.
What is UWM's current ratio?
UWM had current assets of $2.2 billion and current liabilities of $3.2 billion, a current ratio of 0.67 (current liabilities exceed current assets).
How much goodwill does UWM have?
UWM carried $4.1 billion of goodwill and intangible assets, 24.1% of total assets, at the end of fiscal 2025.