UWM Holdings Corporation (UWMC) Income Statement
UWMC 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsUWMC revenue and net income
Where UWMC's revenue goes
2025Each bar shows an amount and its share of revenue. UWMC kept 0.9% of revenue as net income.
UWMC profit margins
UWMC growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +65.8% | +13.8% | −8.2% | — |
| Gross profit | +97.3% | +14.3% | −10.2% | — |
| Operating income | +445.5% | +25.2% | −11.5% | — |
| Net income | +90.1% | −13.1% | −61.8% | — |
| EPS (diluted) | +68.8% | −15.7% | −26.4% | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
UWMC quarterly EPS vs estimates
UWM beat the analyst EPS estimate in 2 of the last 8 quarters. Next report: November 5, 2026 (estimate $0.05).
UWMC income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.16B | $1.91B | $1.11B | $2.15B | $2.83B | $4.85B | $1.23B | $502.2M | $455.6M |
| Cost of revenue | $454.5M | $534.2M | $358.9M | $336.4M | $350.0M | $203.5M | $183.3M | $0 | $0 |
| Gross profit | $2.71B | $1.37B | $755.0M | $1.81B | $2.48B | $4.65B | $1.05B | $502.2M | $455.6M |
| Research & development | — | — | — | $0 | $0 | — | — | — | — |
| Sales, general & admin | $370.3M | $995.8M | $785.2M | $806.6M | $893.5M | $671.4M | $486.7M | $39.1M | $47.5M |
| Total operating expenses | $873.3M | $1.04B | $831.3M | $875.6M | $905.5M | $1.26B | $633.9M | $325.2M | $287.5M |
| Operating income | $1.83B | $336.0M | −$76.3M | $934.7M | $1.58B | $3.38B | $415.1M | $85.8M | $128.4M |
| Interest income | $537.7M | $508.6M | $365.2M | $314.5M | $331.8M | $1.1M | $155.1M | — | — |
| Interest expense | $530.8M | $490.8M | $320.3M | $306.0M | $304.7M | $167.0M | $164.1M | $0 | $0 |
| Income before taxes | $250.9M | $336.0M | −$76.3M | $934.7M | $1.58B | $3.38B | $415.1M | $91.4M | $115.0M |
| Income taxes | $6.9M | $6.6M | −$6.5M | $2.8M | $9.8M | $2.5M | $2.5M | $57,000 | $363,000 |
| Net income | $27.4M | $14.4M | −$13.2M | $41.7M | $98.4M | $3.38B | $415.1M | $91.3M | $114.6M |
| EBITDA | $837.2M | $384.7M | −$26.2M | $984.1M | $1.62B | $3.96B | $544.2M | $136.5M | $168.8M |
| EPS (diluted) | $0.27 | $0.16 | −$0.04 | $0.45 | $0.75 | $1.25 | $4.03 | — | — |
| Gross margin | 85.6% | 72.0% | 67.8% | 84.3% | 87.7% | 95.8% | 85.1% | 100.0% | 100.0% |
| Operating margin | 58.0% | 17.6% | −6.8% | 43.5% | 55.7% | 69.8% | 33.7% | 17.1% | 28.2% |
| Net margin | 0.9% | 0.8% | −1.2% | 1.9% | 3.5% | 69.7% | 33.7% | 18.2% | 25.2% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $888.0M | $901.4M | $945.2M | $470.7M | $784.6M | $161.6M | $478.6M | $459.4M | $449.2M | $518.7M | $0 | $619.5M |
| Cost of revenue | $72.2M | $132.3M | $128.8M | $137.7M | $143.3M | $130.8M | $145.6M | $157.4M | $122.0M | $109.1M | $90.7M | $105.9M |
| Gross profit | $815.8M | $769.1M | $816.4M | $333.0M | $641.3M | $30.8M | $333.0M | $301.9M | $327.2M | $409.5M | −$253.0M | $513.6M |
| Sales, general & admin | $338.4M | $89.9M | $553.4M | $308.4M | $297.8M | $283.1M | $284.2M | $257.6M | $239.8M | $214.2M | $206.3M | $200.4M |
| Total operating expenses | $766.8M | $438.3M | $256.9M | $320.3M | $311.9M | $291.6M | $290.7M | $269.6M | $250.1M | $225.3M | $215.4M | $211.8M |
| Operating income | $49.0M | $330.8M | $559.5M | $12.7M | $329.4M | −$260.8M | $42.3M | $32.3M | $77.1M | $184.3M | −$468.4M | $301.7M |
| Interest income | $140.3M | $133.5M | $155.5M | $132.1M | $132.0M | $118.1M | $140.1M | $145.3M | $121.4M | $101.9M | $87.9M | $94.8M |
| Interest expense | $158.9M | $140.8M | $144.8M | $132.1M | $133.5M | $120.4M | $142.3M | $141.1M | $108.7M | $98.7M | $80.8M | $93.7M |
| Income before taxes | −$472.9M | $177.5M | $169.6M | $12.7M | $329.4M | −$260.8M | $42.3M | $32.3M | $77.1M | $184.3M | −$468.4M | $301.7M |
| Income taxes | −$21.0M | $7.1M | $5.1M | $582,000 | $14.9M | −$13.8M | $1.7M | $344,000 | $786,000 | $3.7M | −$7.5M | $734,000 |
| Net income | −$80.6M | $25.3M | $19.4M | −$1.3M | $22.9M | −$13.7M | $8.9M | −$6.3M | $3.0M | $8.7M | −$27.1M | $18.2M |
| EBITDA | $49.0M | $333.9M | $329.7M | $26.8M | $342.9M | −$248.2M | $54.5M | $44.9M | $88.7M | $196.6M | −$456.0M | $314.5M |
| EPS (diluted) | −$0.23 | $0.09 | $0.08 | $0.01 | $0.16 | $0.02 | $0.02 | $0.01 | $0.04 | $0.09 | −$0.23 | $0.15 |
| Gross margin | 91.9% | 85.3% | 86.4% | 70.8% | 81.7% | 19.1% | 69.6% | 65.7% | 72.8% | 79.0% | — | 82.9% |
| Operating margin | 5.5% | 36.7% | 59.2% | 2.7% | 42.0% | −161.4% | 8.8% | 7.0% | 17.2% | 35.5% | — | 48.7% |
| Net margin | −9.1% | 2.8% | 2.1% | −0.3% | 2.9% | −8.5% | 1.9% | −1.4% | 0.7% | 1.7% | — | 2.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in UWMC's financial statements (latest annual report filed February 25, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
UWMC financial results
In fiscal year 2025 (ended December 31, 2025), UWM reported revenue of $3.2 billion, up 65.8% from the year before. It had net income of $27.4 million (up 90.1%), a net profit margin of 0.9%. Diluted earnings per share came to $0.27. Over five years revenue grew at an average rate of −8.2% a year.
See the UWMC stock overview for the latest quote and news, or the UWMC chart for price history and technical indicators.
UWMC income statement FAQ
What is UWM's annual revenue?
UWM reported total revenue of $3.2 billion for fiscal year 2025, which ended on December 31, 2025. That was up 65.8% from $1.9 billion the previous year.
Is UWM profitable?
Yes. UWM reported net income of $27.4 million in fiscal 2025, a net profit margin of 0.9%; its operating margin was 58.0%.
What is UWM's gross margin?
UWM's gross margin was 85.6% in fiscal 2025: for every $100 of revenue, UWM kept $86 after the direct cost of its products and services.
How fast is UWM growing?
Revenue grew −8.2% a year on average over the last five fiscal years, from $4.8 billion to $3.2 billion.
What are UWM's earnings per share?
UWM earned $0.27 per diluted share in fiscal 2025, compared with $0.16 a year earlier.
When will UWM report its next earnings?
UWM is expected to report results for the quarter ending September 30, 2026 on November 5, 2026 after the market closes.
When does UWM's fiscal year end?
UWM's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 25, 2026.