Annual Income Statements for UWM
This table shows UWM's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.
Quarterly Income Statements for UWM
This table shows UWM's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.
| Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Q1 2025 |
| Net Income / (Loss) Attributable to Common Shareholders |
|
12 |
-0.28 |
-12 |
7.56 |
18 |
-27 |
8.73 |
3.05 |
-6.30 |
8.92 |
-14 |
| Consolidated Net Income / (Loss) |
|
326 |
-62 |
-139 |
229 |
301 |
-461 |
181 |
76 |
32 |
41 |
-247 |
| Net Income / (Loss) Continuing Operations |
|
326 |
-62 |
-139 |
229 |
301 |
-461 |
181 |
76 |
32 |
41 |
-247 |
| Total Pre-Tax Income |
|
330 |
-69 |
-140 |
230 |
302 |
-468 |
184 |
77 |
32 |
42 |
-261 |
| Total Revenue |
|
611 |
494 |
98 |
505 |
677 |
31 |
471 |
398 |
526 |
768 |
225 |
| Net Interest Income / (Expense) |
|
5.07 |
298 |
11 |
6.46 |
95 |
234 |
3.20 |
13 |
145 |
347 |
118 |
| Total Interest Income |
|
78 |
107 |
75 |
89 |
95 |
88 |
102 |
121 |
145 |
140 |
118 |
| Loans and Leases Interest Income |
|
78 |
107 |
75 |
89 |
95 |
88 |
102 |
121 |
145 |
140 |
118 |
| Total Interest Expense |
|
73 |
-191 |
63 |
82 |
0.00 |
-146 |
99 |
109 |
0.00 |
-207 |
0.00 |
| Total Non-Interest Income |
|
606 |
196 |
87 |
499 |
582 |
-202 |
468 |
386 |
381 |
420 |
107 |
| Other Service Charges |
|
197 |
217 |
219 |
193 |
200 |
206 |
185 |
144 |
135 |
173 |
191 |
| Net Realized & Unrealized Capital Gains on Investments |
|
172 |
129 |
205 |
305 |
289 |
201 |
299 |
242 |
692 |
80 |
305 |
| Other Non-Interest Income |
|
237 |
-151 |
-337 |
- |
93 |
- |
-16 |
- |
-446 |
- |
-389 |
| Total Non-Interest Expense |
|
281 |
563 |
238 |
275 |
375 |
500 |
287 |
321 |
494 |
725 |
486 |
| Salaries and Employee Benefits |
|
135 |
118 |
121 |
131 |
135 |
143 |
154 |
160 |
181 |
193 |
193 |
| Net Occupancy & Equipment Expense |
|
6.73 |
- |
-0.24 |
2.70 |
-0.08 |
-2.39 |
-0.24 |
-1.11 |
0.42 |
-4.63 |
-2.85 |
| Marketing Expense |
|
18 |
23 |
17 |
22 |
20 |
26 |
19 |
24 |
22 |
31 |
22 |
| Other Operating Expenses |
|
110 |
400 |
88 |
108 |
208 |
322 |
103 |
126 |
278 |
495 |
262 |
| Depreciation Expense |
|
11 |
12 |
12 |
11 |
12 |
11 |
11 |
11 |
12 |
11 |
11 |
| Income Tax Expense |
|
4.77 |
-6.77 |
-1.00 |
1.21 |
0.73 |
-7.45 |
3.73 |
0.79 |
0.34 |
1.72 |
-14 |
| Net Income / (Loss) Attributable to Noncontrolling Interest |
|
314 |
-62 |
-127 |
221 |
283 |
-434 |
172 |
73 |
38 |
32 |
-233 |
| Basic Earnings per Share |
|
$0.13 |
($0.01) |
($0.13) |
$0.08 |
$0.20 |
($0.29) |
$0.09 |
$0.03 |
($0.06) |
$0.07 |
($0.08) |
| Weighted Average Basic Shares Outstanding |
|
92.57M |
92.48M |
92.92M |
93.11M |
93.29M |
93.25M |
94.37M |
95.39M |
99.80M |
111.37M |
164.10M |
| Diluted Earnings per Share |
|
$0.13 |
$0.01 |
($0.13) |
$0.08 |
$0.15 |
($0.24) |
$0.09 |
$0.03 |
($0.06) |
$0.07 |
($0.12) |
| Weighted Average Diluted Shares Outstanding |
|
92.57M |
92.48M |
92.92M |
93.11M |
1.60B |
93.25M |
1.60B |
95.39M |
99.80M |
111.37M |
1.60B |
| Weighted Average Basic & Diluted Shares Outstanding |
|
1.59B |
1.60B |
1.60B |
1.60B |
1.60B |
1.60B |
1.60B |
1.60B |
1.60B |
1.60B |
1.60B |
Annual Cash Flow Statements for UWM
This table details how cash moves in and out of UWM's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.
| Metric |
|
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
| Net Change in Cash & Equivalents |
|
91 |
1,091 |
-493 |
-26 |
-207 |
9.87 |
| Net Cash From Operating Activities |
|
-3,496 |
56 |
-9,957 |
8,268 |
165 |
-6,241 |
| Net Cash From Continuing Operating Activities |
|
-3,496 |
56 |
-9,957 |
8,268 |
165 |
-6,241 |
| Net Income / (Loss) Continuing Operations |
|
415 |
3,383 |
1,568 |
932 |
-70 |
329 |
| Consolidated Net Income / (Loss) |
|
415 |
3,383 |
1,568 |
932 |
-70 |
329 |
| Depreciation Expense |
|
9.41 |
17 |
38 |
49 |
50 |
49 |
| Non-Cash Adjustments to Reconcile Net Income |
|
-1,065 |
-1,841 |
-1,948 |
-2,470 |
-1,350 |
-2,574 |
| Changes in Operating Assets and Liabilities, net |
|
-2,975 |
-2,056 |
-9,616 |
9,757 |
1,535 |
-4,045 |
| Net Cash From Investing Activities |
|
577 |
232 |
200 |
1,290 |
1,830 |
2,676 |
| Net Cash From Continuing Investing Activities |
|
577 |
232 |
200 |
1,290 |
1,830 |
2,676 |
| Purchase of Property, Leasehold Improvements and Equipment |
|
-17 |
-57 |
-65 |
-27 |
-26 |
-39 |
| Sale and/or Maturity of Investments |
|
594 |
289 |
265 |
1,317 |
1,856 |
2,716 |
| Net Cash From Financing Activities |
|
3,010 |
802 |
9,264 |
-9,585 |
-2,203 |
3,575 |
| Net Cash From Continuing Financing Activities |
|
3,010 |
802 |
9,264 |
-9,585 |
-2,203 |
3,575 |
| Issuance of Debt |
|
3,665 |
2,966 |
1,400 |
-8,160 |
1,166 |
2,845 |
| Repayment of Debt |
|
-582 |
-490 |
8,562 |
-637 |
-2,729 |
1,492 |
| Payment of Dividends |
|
-73 |
-1,970 |
-1,499 |
-788 |
-638 |
-754 |
| Other Financing Activities, Net |
|
0.00 |
295 |
884 |
0.00 |
-1.31 |
-7.87 |
| Cash Interest Paid |
|
158 |
162 |
287 |
242 |
341 |
477 |
| Cash Income Taxes Paid |
|
0.00 |
0.00 |
1.78 |
0.00 |
-0.06 |
2.98 |
Quarterly Cash Flow Statements for UWM
This table details how cash moves in and out of UWM's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.
| Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Q1 2025 |
| Net Change in Cash & Equivalents |
|
-159 |
-95 |
35 |
-105 |
95 |
-232 |
108 |
75 |
-44 |
-129 |
-22 |
| Net Cash From Operating Activities |
|
-548 |
-2,545 |
1,993 |
-1,844 |
346 |
-329 |
-2,203 |
-1,317 |
-2,178 |
-543 |
594 |
| Net Cash From Continuing Operating Activities |
|
-548 |
-2,545 |
1,993 |
-1,844 |
346 |
-329 |
-2,203 |
-1,317 |
-2,178 |
-543 |
594 |
| Net Income / (Loss) Continuing Operations |
|
326 |
-62 |
-139 |
229 |
301 |
-461 |
181 |
76 |
32 |
41 |
-247 |
| Consolidated Net Income / (Loss) |
|
326 |
-62 |
-139 |
229 |
301 |
-461 |
181 |
76 |
32 |
41 |
-247 |
| Depreciation Expense |
|
12 |
13 |
13 |
12 |
13 |
12 |
12 |
12 |
13 |
12 |
13 |
| Non-Cash Adjustments to Reconcile Net Income |
|
-924 |
-320 |
-186 |
-633 |
-711 |
180 |
-515 |
-514 |
-293 |
-1,252 |
-331 |
| Changes in Operating Assets and Liabilities, net |
|
38 |
-2,175 |
2,305 |
-1,453 |
743 |
-61 |
-1,881 |
-892 |
-1,930 |
656 |
1,159 |
| Net Cash From Investing Activities |
|
342 |
146 |
644 |
426 |
582 |
178 |
1,288 |
1,056 |
237 |
95 |
928 |
| Net Cash From Continuing Investing Activities |
|
342 |
146 |
644 |
426 |
582 |
178 |
1,288 |
1,056 |
237 |
95 |
928 |
| Purchase of Property, Leasehold Improvements and Equipment |
|
-5.38 |
-5.87 |
-7.95 |
-5.34 |
-6.33 |
-6.82 |
-6.97 |
-12 |
-12 |
-8.29 |
-18 |
| Sale and/or Maturity of Investments |
|
347 |
152 |
652 |
432 |
588 |
184 |
1,294 |
1,068 |
250 |
103 |
946 |
| Net Cash From Financing Activities |
|
47 |
2,304 |
-2,602 |
1,312 |
-832 |
-81 |
1,023 |
335 |
1,897 |
319 |
-1,545 |
| Net Cash From Continuing Financing Activities |
|
47 |
2,304 |
-2,602 |
1,312 |
-832 |
-81 |
1,023 |
335 |
1,897 |
319 |
-1,545 |
| Issuance of Debt |
|
-11,214 |
3,054 |
-1,684 |
2,506 |
-1,352 |
1,696 |
1,974 |
-1,588 |
394 |
2,066 |
314 |
| Repayment of Debt |
|
11,420 |
-591 |
-757 |
-1,034 |
679 |
-1,617 |
-746 |
2,132 |
1,686 |
-1,579 |
-1,691 |
| Payment of Dividends |
|
-160 |
-159 |
-159 |
-160 |
-160 |
-160 |
-204 |
-208 |
-182 |
-160 |
-167 |
| Other Financing Activities, Net |
|
- |
- |
-1.31 |
- |
- |
-0.01 |
-0.90 |
- |
- |
-6.97 |
-0.34 |
| Cash Interest Paid |
|
41 |
120 |
63 |
51 |
119 |
108 |
69 |
131 |
100 |
177 |
85 |
| Cash Income Taxes Paid |
|
- |
- |
-0.12 |
- |
- |
0.07 |
0.36 |
0.50 |
2.10 |
0.02 |
0.06 |
Annual Balance Sheets for UWM
This table presents UWM's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.
| Metric |
|
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
| Total Assets |
|
0.41 |
11,493 |
22,528 |
13,601 |
11,872 |
15,671 |
| Cash and Due from Banks |
|
0.00 |
1,224 |
731 |
705 |
497 |
507 |
| Trading Account Securities |
|
- |
7,978 |
17,130 |
7,331 |
5,593 |
9,720 |
| Loans and Leases, Net of Allowance |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
| Premises and Equipment, Net |
|
- |
108 |
152 |
152 |
146 |
146 |
| Other Assets |
|
0.00 |
2,184 |
4,516 |
5,412 |
5,635 |
5,298 |
| Total Liabilities & Shareholders' Equity |
|
0.41 |
11,493 |
22,528 |
13,601 |
11,872 |
15,671 |
| Total Liabilities |
|
0.43 |
9,119 |
19,357 |
10,429 |
9,397 |
13,617 |
| Short-Term Debt |
|
0.15 |
320 |
0.00 |
750 |
750 |
500 |
| Long-Term Debt |
|
- |
7,757 |
18,617 |
8,875 |
7,841 |
12,215 |
| Other Long-Term Liabilities |
|
0.00 |
1,042 |
740 |
804 |
806 |
902 |
| Total Equity & Noncontrolling Interests |
|
-0.01 |
2,374 |
3,171 |
3,172 |
2,475 |
2,054 |
| Total Preferred & Common Equity |
|
-0.01 |
2,374 |
142 |
144 |
113 |
162 |
| Preferred Stock |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
| Total Common Equity |
|
-0.01 |
2,374 |
142 |
144 |
113 |
162 |
| Common Stock |
|
0.03 |
25 |
0.60 |
1.06 |
1.86 |
3.68 |
| Retained Earnings |
|
-0.04 |
2,349 |
142 |
143 |
111 |
158 |
| Noncontrolling Interest |
|
- |
0.00 |
3,029 |
3,028 |
2,362 |
1,892 |
Quarterly Balance Sheets for UWM
This table presents UWM's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.
| Metric |
|
Q3 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q1 2025 |
| Total Assets |
|
11,890 |
10,948 |
12,426 |
12,204 |
12,797 |
12,922 |
15,120 |
14,048 |
| Cash and Due from Banks |
|
800 |
740 |
635 |
730 |
606 |
680 |
636 |
485 |
| Trading Account Securities |
|
5,842 |
4,976 |
6,443 |
5,757 |
7,481 |
8,397 |
10,318 |
8,549 |
| Loans and Leases, Net of Allowance |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
| Premises and Equipment, Net |
|
152 |
152 |
150 |
147 |
145 |
147 |
148 |
154 |
| Other Assets |
|
5,097 |
5,080 |
5,199 |
5,571 |
4,566 |
3,698 |
4,018 |
4,860 |
| Total Liabilities & Shareholders' Equity |
|
11,890 |
10,948 |
12,426 |
12,204 |
12,797 |
12,922 |
15,120 |
14,048 |
| Total Liabilities |
|
8,498 |
8,073 |
9,479 |
9,112 |
10,340 |
10,593 |
12,939 |
12,413 |
| Short-Term Debt |
|
- |
500 |
500 |
500 |
200 |
0.00 |
300 |
250 |
| Long-Term Debt |
|
6,811 |
6,787 |
8,229 |
7,769 |
9,343 |
9,791 |
11,684 |
11,199 |
| Other Long-Term Liabilities |
|
1,687 |
786 |
750 |
843 |
798 |
802 |
955 |
964 |
| Total Equity & Noncontrolling Interests |
|
3,392 |
2,875 |
2,947 |
3,092 |
2,457 |
2,329 |
2,181 |
1,635 |
| Total Preferred & Common Equity |
|
142 |
123 |
122 |
132 |
114 |
113 |
119 |
165 |
| Preferred Stock |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
| Total Common Equity |
|
142 |
123 |
122 |
132 |
114 |
113 |
119 |
165 |
| Common Stock |
|
0.94 |
1.20 |
1.43 |
1.64 |
2.24 |
2.47 |
2.80 |
4.46 |
| Retained Earnings |
|
141 |
122 |
120 |
130 |
112 |
111 |
117 |
160 |
| Noncontrolling Interest |
|
3,250 |
2,751 |
2,825 |
2,960 |
2,343 |
2,216 |
2,061 |
1,470 |
Annual Metrics And Ratios for UWM
This table displays calculated financial ratios and metrics derived from UWM's official financial filings.
| Metric |
|
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
| Growth Metrics |
|
- |
- |
- |
- |
- |
- |
| Revenue Growth |
|
0.00% |
273.24% |
-44.13% |
-10.99% |
-44.73% |
65.00% |
| EBITDA Growth |
|
0.00% |
626.88% |
-59.14% |
-39.11% |
-102.67% |
1,566.60% |
| EBIT Growth |
|
0.00% |
715.54% |
-53.37% |
-40.78% |
-108.16% |
540.35% |
| NOPAT Growth |
|
0.00% |
714.95% |
-53.63% |
-40.59% |
-105.73% |
716.75% |
| Net Income Growth |
|
0.00% |
714.95% |
-53.63% |
-40.59% |
-107.49% |
572.01% |
| EPS Growth |
|
0.00% |
0.00% |
0.00% |
-31.82% |
-131.11% |
192.86% |
| Operating Cash Flow Growth |
|
0.00% |
101.61% |
-17,750.43% |
183.04% |
-98.00% |
-3,877.14% |
| Free Cash Flow Firm Growth |
|
0.00% |
0.00% |
-38.18% |
201.59% |
-83.09% |
-301.11% |
| Invested Capital Growth |
|
0.00% |
7,685,180.67% |
108.46% |
-41.27% |
-13.53% |
33.47% |
| Revenue Q/Q Growth |
|
0.00% |
0.00% |
-30.64% |
-0.97% |
-10.65% |
95.45% |
| EBITDA Q/Q Growth |
|
0.00% |
0.00% |
-41.33% |
-23.33% |
-107.02% |
406.00% |
| EBIT Q/Q Growth |
|
0.00% |
0.00% |
-41.96% |
-24.37% |
-123.63% |
292.21% |
| NOPAT Q/Q Growth |
|
0.00% |
0.00% |
-41.92% |
-24.50% |
-116.25% |
369.21% |
| Net Income Q/Q Growth |
|
0.00% |
0.00% |
-41.92% |
-24.50% |
-121.23% |
291.28% |
| EPS Q/Q Growth |
|
0.00% |
0.00% |
17.86% |
-16.67% |
-227.27% |
172.22% |
| Operating Cash Flow Q/Q Growth |
|
0.00% |
0.00% |
-95.71% |
79.36% |
108.06% |
-3.55% |
| Free Cash Flow Firm Q/Q Growth |
|
0.00% |
0.00% |
0.00% |
65.38% |
302.21% |
-15.31% |
| Invested Capital Q/Q Growth |
|
0.00% |
0.00% |
45.56% |
25.43% |
-2.60% |
4.27% |
| Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
| EBITDA Margin |
|
42.57% |
82.90% |
60.63% |
41.48% |
-2.00% |
17.78% |
| EBIT Margin |
|
32.47% |
70.94% |
59.21% |
39.39% |
-5.82% |
15.53% |
| Profit (Net Income) Margin |
|
32.47% |
70.89% |
58.84% |
39.28% |
-5.32% |
15.22% |
| Tax Burden Percent |
|
100.00% |
99.93% |
99.38% |
99.70% |
91.47% |
98.04% |
| Interest Burden Percent |
|
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
| Effective Tax Rate |
|
0.00% |
0.07% |
0.62% |
0.30% |
0.00% |
1.96% |
| Return on Invested Capital (ROIC) |
|
305,193.46% |
64.72% |
9.73% |
5.39% |
-0.45% |
2.55% |
| ROIC Less NNEP Spread (ROIC-NNEP) |
|
305,193.46% |
64.72% |
9.73% |
5.39% |
-0.63% |
2.55% |
| Return on Net Nonoperating Assets (RNNOA) |
|
-3,269,462.85% |
220.21% |
46.84% |
23.99% |
-2.02% |
12.00% |
| Return on Equity (ROE) |
|
-2,964,269.39% |
284.93% |
56.57% |
29.38% |
-2.47% |
14.55% |
| Cash Return on Invested Capital (CROIC) |
|
0.00% |
-135.27% |
-60.60% |
57.38% |
14.06% |
-26.12% |
| Operating Return on Assets (OROA) |
|
100,621.34% |
58.90% |
9.28% |
5.17% |
-0.60% |
2.44% |
| Return on Assets (ROA) |
|
100,621.34% |
58.86% |
9.22% |
5.16% |
-0.55% |
2.39% |
| Return on Common Equity (ROCE) |
|
-2,964,269.39% |
284.93% |
25.67% |
1.32% |
-0.11% |
0.88% |
| Return on Equity Simple (ROE_SIMPLE) |
|
0.00% |
142.46% |
1,101.40% |
649.10% |
-62.00% |
203.92% |
| Net Operating Profit after Tax (NOPAT) |
|
415 |
3,383 |
1,568 |
932 |
-53 |
329 |
| NOPAT Margin |
|
32.47% |
70.89% |
58.84% |
39.28% |
-4.07% |
15.22% |
| Net Nonoperating Expense Percent (NNEP) |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.18% |
0.00% |
| SG&A Expenses to Revenue |
|
30.94% |
12.00% |
27.65% |
27.43% |
46.88% |
36.07% |
| Operating Expenses to Revenue |
|
67.53% |
29.06% |
40.79% |
60.61% |
105.82% |
84.47% |
| Earnings before Interest and Taxes (EBIT) |
|
415 |
3,385 |
1,578 |
935 |
-76 |
336 |
| Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
544 |
3,956 |
1,616 |
984 |
-26 |
385 |
| Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
| Price to Book Value (P/BV) |
|
0.00 |
0.24 |
54.35 |
32.30 |
95.70 |
58.08 |
| Price to Tangible Book Value (P/TBV) |
|
0.00 |
0.24 |
54.35 |
32.30 |
95.70 |
58.08 |
| Price to Revenue (P/Rev) |
|
0.31 |
0.12 |
2.90 |
1.95 |
8.21 |
4.34 |
| Price to Earnings (P/E) |
|
0.96 |
0.00 |
78.62 |
111.17 |
0.00 |
651.33 |
| Dividend Yield |
|
0.00% |
0.00% |
8.28% |
13.75% |
5.93% |
6.81% |
| Earnings Yield |
|
103.76% |
0.00% |
1.27% |
0.90% |
0.00% |
0.15% |
| Enterprise Value to Invested Capital (EV/IC) |
|
2,942.31 |
0.71 |
1.32 |
1.30 |
1.92 |
1.59 |
| Enterprise Value to Revenue (EV/Rev) |
|
0.31 |
1.56 |
10.75 |
6.99 |
16.19 |
10.85 |
| Enterprise Value to EBITDA (EV/EBITDA) |
|
0.74 |
1.88 |
17.73 |
16.85 |
0.00 |
61.03 |
| Enterprise Value to EBIT (EV/EBIT) |
|
0.96 |
2.20 |
18.16 |
17.75 |
0.00 |
69.90 |
| Enterprise Value to NOPAT (EV/NOPAT) |
|
0.96 |
2.20 |
18.27 |
17.80 |
0.00 |
71.29 |
| Enterprise Value to Operating Cash Flow (EV/OCF) |
|
0.00 |
131.79 |
0.00 |
2.01 |
128.46 |
0.00 |
| Enterprise Value to Free Cash Flow (EV/FCFF) |
|
0.00 |
0.00 |
0.00 |
1.67 |
12.65 |
0.00 |
| Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
| Debt to Equity |
|
-10.71 |
3.40 |
5.87 |
3.03 |
3.47 |
6.19 |
| Long-Term Debt to Equity |
|
0.00 |
3.27 |
5.87 |
2.80 |
3.17 |
5.95 |
| Financial Leverage |
|
-10.71 |
3.40 |
4.81 |
4.45 |
3.23 |
4.70 |
| Leverage Ratio |
|
-29.46 |
4.84 |
6.14 |
5.70 |
4.51 |
6.08 |
| Compound Leverage Factor |
|
-29.46 |
4.84 |
6.14 |
5.70 |
4.51 |
6.08 |
| Debt to Total Capital |
|
110.30% |
77.28% |
85.45% |
75.22% |
77.64% |
86.09% |
| Short-Term Debt to Total Capital |
|
110.30% |
3.06% |
0.00% |
5.86% |
6.78% |
3.39% |
| Long-Term Debt to Total Capital |
|
0.00% |
74.22% |
85.45% |
69.35% |
70.86% |
82.71% |
| Preferred Equity to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
| Noncontrolling Interests to Total Capital |
|
0.00% |
0.00% |
13.90% |
23.66% |
21.35% |
12.81% |
| Common Equity to Total Capital |
|
-10.30% |
22.72% |
0.65% |
1.12% |
1.02% |
1.09% |
| Debt to EBITDA |
|
0.00 |
2.04 |
11.52 |
9.78 |
-327.49 |
33.05 |
| Net Debt to EBITDA |
|
0.00 |
1.73 |
11.07 |
9.06 |
-308.53 |
31.73 |
| Long-Term Debt to EBITDA |
|
0.00 |
1.96 |
11.52 |
9.02 |
-298.90 |
31.75 |
| Debt to NOPAT |
|
0.00 |
2.39 |
11.87 |
10.33 |
-160.87 |
38.60 |
| Net Debt to NOPAT |
|
0.00 |
2.03 |
11.40 |
9.57 |
-151.55 |
37.06 |
| Long-Term Debt to NOPAT |
|
0.00 |
2.29 |
11.87 |
9.52 |
-146.82 |
37.09 |
| Noncontrolling Interest Sharing Ratio |
|
0.00% |
0.00% |
54.62% |
95.49% |
95.46% |
93.95% |
| Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
| Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
| Free Cash Flow to Firm (FCFF) |
|
0.00 |
-7,069 |
-9,768 |
9,923 |
1,678 |
-3,374 |
| Operating Cash Flow to CapEx |
|
-20,840.61% |
98.47% |
-15,228.44% |
31,065.87% |
625.12% |
-15,819.28% |
| Free Cash Flow to Firm to Interest Expense |
|
0.00 |
-42.32 |
-32.06 |
0.00 |
0.00 |
0.00 |
| Operating Cash Flow to Interest Expense |
|
0.00 |
0.34 |
-32.68 |
0.00 |
0.00 |
0.00 |
| Operating Cash Flow Less CapEx to Interest Expense |
|
0.00 |
-0.01 |
-32.90 |
0.00 |
0.00 |
0.00 |
| Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
| Asset Turnover |
|
3,099.25 |
0.83 |
0.16 |
0.13 |
0.10 |
0.16 |
| Fixed Asset Turnover |
|
0.00 |
0.00 |
20.56 |
15.60 |
8.77 |
14.79 |
| Capital & Investment Metrics |
|
- |
- |
- |
- |
- |
- |
| Invested Capital |
|
0.14 |
10,452 |
21,788 |
12,797 |
11,066 |
14,769 |
| Invested Capital Turnover |
|
9,400.29 |
0.91 |
0.17 |
0.14 |
0.11 |
0.17 |
| Increase / (Decrease) in Invested Capital |
|
0.00 |
10,452 |
11,336 |
-8,991 |
-1,731 |
3,703 |
| Enterprise Value (EV) |
|
400 |
7,435 |
28,655 |
16,586 |
21,227 |
23,482 |
| Market Capitalization |
|
400 |
581 |
7,740 |
4,638 |
10,771 |
9,382 |
| Book Value per Share |
|
$0.00 |
$44.69 |
$0.09 |
$0.09 |
$0.07 |
$0.10 |
| Tangible Book Value per Share |
|
$0.00 |
$44.69 |
$0.09 |
$0.09 |
$0.07 |
$0.10 |
| Total Capital |
|
0.14 |
10,452 |
21,788 |
12,797 |
11,066 |
14,769 |
| Total Debt |
|
0.15 |
8,078 |
18,617 |
9,625 |
8,591 |
12,715 |
| Total Long-Term Debt |
|
0.00 |
7,757 |
18,617 |
8,875 |
7,841 |
12,215 |
| Net Debt |
|
0.15 |
6,854 |
17,886 |
8,920 |
8,094 |
12,208 |
| Capital Expenditures (CapEx) |
|
17 |
57 |
65 |
27 |
26 |
39 |
| Net Nonoperating Expense (NNE) |
|
0.00 |
0.00 |
0.00 |
0.00 |
16 |
0.00 |
| Net Nonoperating Obligations (NNO) |
|
0.15 |
8,078 |
18,617 |
9,625 |
8,591 |
12,715 |
| Total Depreciation and Amortization (D&A) |
|
129 |
571 |
38 |
49 |
50 |
49 |
| Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
| Adjusted Basic Earnings per Share |
|
$0.00 |
($0.12) |
$0.98 |
$0.45 |
($0.14) |
$0.13 |
| Adjusted Weighted Average Basic Shares Outstanding |
|
0.00 |
103.10M |
100.88M |
92.48M |
93.25M |
111.37M |
| Adjusted Diluted Earnings per Share |
|
$0.00 |
($0.12) |
$0.66 |
$0.45 |
($0.14) |
$0.13 |
| Adjusted Weighted Average Diluted Shares Outstanding |
|
0.00 |
103.10M |
1.60B |
92.48M |
93.25M |
111.37M |
| Adjusted Basic & Diluted Earnings per Share |
|
$0.00 |
($0.12) |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
| Adjusted Weighted Average Basic & Diluted Shares Outstanding |
|
0.00 |
103.10M |
1.59B |
1.60B |
1.60B |
1.60B |
| Normalized Net Operating Profit after Tax (NOPAT) |
|
387 |
3,955 |
1,568 |
932 |
-53 |
329 |
| Normalized NOPAT Margin |
|
30.27% |
82.89% |
58.84% |
39.28% |
-4.07% |
15.22% |
| Pre Tax Income Margin |
|
32.47% |
70.94% |
59.21% |
39.39% |
-5.82% |
15.53% |
| Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
| EBIT to Interest Expense |
|
0.00 |
20.26 |
5.18 |
0.00 |
0.00 |
0.00 |
| NOPAT to Interest Expense |
|
0.00 |
20.25 |
5.15 |
0.00 |
0.00 |
0.00 |
| EBIT Less CapEx to Interest Expense |
|
0.00 |
19.92 |
4.97 |
0.00 |
0.00 |
0.00 |
| NOPAT Less CapEx to Interest Expense |
|
0.00 |
19.91 |
4.93 |
0.00 |
0.00 |
0.00 |
| Payout Ratios |
|
- |
- |
- |
- |
- |
- |
| Dividend Payout Ratio |
|
17.54% |
58.23% |
95.60% |
84.56% |
-914.38% |
228.85% |
| Augmented Payout Ratio |
|
17.54% |
58.23% |
100.81% |
84.56% |
-914.38% |
228.85% |
Quarterly Metrics And Ratios for UWM
This table displays calculated financial ratios and metrics derived from UWM's official financial filings.
| Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Q1 2025 |
| Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Revenue Growth |
|
1.82% |
-4.49% |
-87.13% |
-0.31% |
10.81% |
-93.69% |
380.96% |
-21.11% |
-22.25% |
2,364.92% |
-60.56% |
| EBITDA Growth |
|
-0.07% |
-123.16% |
-127.06% |
6.06% |
-8.25% |
-709.76% |
254.84% |
-63.36% |
-85.72% |
111.95% |
-226.25% |
| EBIT Growth |
|
-0.89% |
-129.87% |
-130.53% |
6.38% |
-8.67% |
-576.32% |
231.98% |
-66.49% |
-89.30% |
109.04% |
-241.54% |
| NOPAT Growth |
|
-1.29% |
-120.21% |
-121.56% |
6.20% |
-7.56% |
-576.32% |
284.72% |
-66.66% |
-89.39% |
112.39% |
-201.13% |
| Net Income Growth |
|
-1.29% |
-126.05% |
-130.58% |
6.20% |
-7.56% |
-637.72% |
230.24% |
-66.66% |
-89.39% |
108.81% |
-236.83% |
| EPS Growth |
|
-18.75% |
-90.00% |
-159.09% |
-11.11% |
15.38% |
-2,500.00% |
169.23% |
-62.50% |
-140.00% |
129.17% |
-233.33% |
| Operating Cash Flow Growth |
|
-192.53% |
58.98% |
-83.04% |
-371.62% |
163.13% |
87.06% |
-210.53% |
28.58% |
-729.75% |
-64.99% |
126.96% |
| Free Cash Flow Firm Growth |
|
135.78% |
180.59% |
-1,162.41% |
-127.95% |
-116.84% |
-84.31% |
-80.83% |
77.42% |
-223.28% |
-361.02% |
23.54% |
| Invested Capital Growth |
|
-31.84% |
-41.27% |
8.76% |
18.88% |
11.35% |
-13.53% |
18.09% |
3.80% |
24.68% |
33.47% |
9.04% |
| Revenue Q/Q Growth |
|
20.60% |
-19.24% |
-47.74% |
415.44% |
34.06% |
-95.40% |
341.20% |
-15.46% |
32.12% |
45.80% |
-70.71% |
| EBITDA Q/Q Growth |
|
50.13% |
-116.43% |
-125.48% |
290.75% |
29.87% |
-244.97% |
143.11% |
-54.86% |
-49.39% |
21.34% |
-555.44% |
| EBIT Q/Q Growth |
|
52.80% |
-120.96% |
-101.59% |
264.74% |
31.18% |
-255.24% |
139.34% |
-58.17% |
-58.11% |
31.10% |
-716.12% |
| NOPAT Q/Q Growth |
|
51.13% |
-114.89% |
-101.59% |
334.11% |
31.56% |
-208.93% |
155.06% |
-57.74% |
-58.12% |
27.13% |
-549.54% |
| Net Income Q/Q Growth |
|
51.13% |
-119.19% |
-121.84% |
265.06% |
31.56% |
-253.15% |
139.16% |
-57.74% |
-58.12% |
27.13% |
-708.25% |
| EPS Q/Q Growth |
|
44.44% |
-92.31% |
-1,400.00% |
161.54% |
87.50% |
-260.00% |
137.50% |
-66.67% |
-300.00% |
216.67% |
-271.43% |
| Operating Cash Flow Q/Q Growth |
|
-40.10% |
-364.45% |
178.32% |
-192.54% |
118.76% |
-195.19% |
-568.98% |
40.20% |
-65.38% |
75.06% |
209.32% |
| Free Cash Flow Firm Q/Q Growth |
|
-12.45% |
75.64% |
-110.25% |
-77.32% |
47.25% |
263.67% |
-218.11% |
77.85% |
-655.15% |
-32.15% |
65.40% |
| Invested Capital Q/Q Growth |
|
3.87% |
25.43% |
-20.59% |
14.90% |
-2.70% |
-2.60% |
8.44% |
1.00% |
16.88% |
4.27% |
-11.41% |
| Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| EBITDA Margin |
|
56.10% |
-11.41% |
-129.57% |
47.95% |
46.45% |
-1,464.35% |
41.71% |
22.27% |
8.53% |
7.10% |
-110.41% |
| EBIT Margin |
|
54.07% |
-14.03% |
-142.48% |
45.54% |
44.56% |
-1,504.30% |
39.10% |
19.34% |
6.13% |
5.52% |
-116.03% |
| Profit (Net Income) Margin |
|
53.29% |
-12.66% |
-141.46% |
45.30% |
44.45% |
-1,480.36% |
38.31% |
19.15% |
6.07% |
5.29% |
-109.90% |
| Tax Burden Percent |
|
98.56% |
90.22% |
99.28% |
99.47% |
99.76% |
98.41% |
97.97% |
98.98% |
98.93% |
95.94% |
94.71% |
| Interest Burden Percent |
|
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
| Effective Tax Rate |
|
1.44% |
0.00% |
0.00% |
0.53% |
0.24% |
0.00% |
2.03% |
1.02% |
1.07% |
4.06% |
0.00% |
| Return on Invested Capital (ROIC) |
|
10.14% |
-1.35% |
-14.35% |
5.91% |
6.05% |
-115.73% |
4.72% |
2.02% |
0.53% |
0.89% |
-11.78% |
| ROIC Less NNEP Spread (ROIC-NNEP) |
|
10.14% |
-1.45% |
-14.96% |
5.91% |
6.05% |
-117.19% |
4.72% |
2.02% |
0.53% |
0.89% |
-12.39% |
| Return on Net Nonoperating Assets (RNNOA) |
|
29.84% |
-6.44% |
-33.34% |
14.67% |
14.07% |
-378.09% |
14.89% |
7.10% |
2.02% |
4.17% |
-63.56% |
| Return on Equity (ROE) |
|
39.98% |
-7.79% |
-47.69% |
20.58% |
20.12% |
-493.82% |
19.61% |
9.13% |
2.55% |
5.06% |
-75.33% |
| Cash Return on Invested Capital (CROIC) |
|
47.67% |
57.38% |
-4.91% |
-13.96% |
-7.70% |
14.06% |
-14.34% |
-2.91% |
-22.93% |
-26.12% |
-9.26% |
| Operating Return on Assets (OROA) |
|
9.13% |
-1.84% |
-18.23% |
5.45% |
5.43% |
-154.88% |
4.49% |
1.92% |
0.50% |
0.87% |
-15.72% |
| Return on Assets (ROA) |
|
9.00% |
-1.66% |
-18.10% |
5.42% |
5.42% |
-152.42% |
4.40% |
1.90% |
0.49% |
0.83% |
-14.89% |
| Return on Common Equity (ROCE) |
|
1.71% |
-0.35% |
-2.08% |
0.87% |
0.85% |
-22.40% |
0.87% |
0.41% |
0.12% |
0.31% |
-5.14% |
| Return on Equity Simple (ROE_SIMPLE) |
|
868.29% |
0.00% |
275.65% |
290.06% |
249.24% |
0.00% |
218.31% |
85.34% |
-144.26% |
0.00% |
-59.55% |
| Net Operating Profit after Tax (NOPAT) |
|
326 |
-48 |
-98 |
229 |
301 |
-328 |
181 |
76 |
32 |
41 |
-183 |
| NOPAT Margin |
|
53.29% |
-9.82% |
-99.74% |
45.30% |
44.45% |
-1,053.01% |
38.31% |
19.15% |
6.07% |
5.29% |
-81.22% |
| Net Nonoperating Expense Percent (NNEP) |
|
0.00% |
0.10% |
0.61% |
0.00% |
0.00% |
1.46% |
0.00% |
0.00% |
0.00% |
0.00% |
0.61% |
| SG&A Expenses to Revenue |
|
26.10% |
28.62% |
140.80% |
30.82% |
22.95% |
532.22% |
36.73% |
46.09% |
38.82% |
28.57% |
94.38% |
| Operating Expenses to Revenue |
|
45.93% |
114.03% |
242.48% |
54.46% |
55.44% |
1,604.30% |
60.90% |
80.66% |
93.87% |
94.48% |
216.03% |
| Earnings before Interest and Taxes (EBIT) |
|
330 |
-69 |
-140 |
230 |
302 |
-468 |
184 |
77 |
32 |
42 |
-261 |
| Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
343 |
-56 |
-127 |
242 |
315 |
-456 |
197 |
89 |
45 |
54 |
-248 |
| Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Price to Book Value (P/BV) |
|
29.08 |
32.30 |
58.68 |
68.97 |
55.58 |
95.70 |
100.03 |
97.56 |
114.04 |
58.08 |
52.93 |
| Price to Tangible Book Value (P/TBV) |
|
29.08 |
32.30 |
58.68 |
68.97 |
55.58 |
95.70 |
100.03 |
97.56 |
114.04 |
58.08 |
52.93 |
| Price to Revenue (P/Rev) |
|
1.73 |
1.95 |
5.16 |
5.99 |
4.99 |
8.21 |
8.37 |
8.80 |
12.30 |
4.34 |
4.80 |
| Price to Earnings (P/E) |
|
70.14 |
111.17 |
922.56 |
1,193.91 |
540.15 |
0.00 |
1,535.46 |
3,774.87 |
0.00 |
651.33 |
0.00 |
| Dividend Yield |
|
15.43% |
13.75% |
8.82% |
7.60% |
8.70% |
5.93% |
5.59% |
5.77% |
4.69% |
6.81% |
7.33% |
| Earnings Yield |
|
1.43% |
0.90% |
0.11% |
0.08% |
0.19% |
0.00% |
0.07% |
0.03% |
0.00% |
0.15% |
0.00% |
| Enterprise Value to Invested Capital (EV/IC) |
|
1.31 |
1.30 |
1.63 |
1.65 |
1.57 |
1.92 |
1.89 |
1.85 |
1.91 |
1.59 |
1.62 |
| Enterprise Value to Revenue (EV/Rev) |
|
5.59 |
6.99 |
11.78 |
13.78 |
12.15 |
16.19 |
16.64 |
17.81 |
24.41 |
10.85 |
11.64 |
| Enterprise Value to EBITDA (EV/EBITDA) |
|
10.44 |
16.85 |
42.63 |
48.09 |
47.75 |
0.00 |
76.37 |
155.67 |
0.00 |
61.03 |
0.00 |
| Enterprise Value to EBIT (EV/EBIT) |
|
10.84 |
17.75 |
48.96 |
54.96 |
55.23 |
0.00 |
91.71 |
236.62 |
0.00 |
69.90 |
0.00 |
| Enterprise Value to NOPAT (EV/NOPAT) |
|
10.85 |
17.80 |
48.64 |
54.68 |
54.25 |
0.00 |
91.05 |
231.25 |
0.00 |
71.29 |
0.00 |
| Enterprise Value to Operating Cash Flow (EV/OCF) |
|
2.91 |
2.01 |
0.00 |
0.00 |
0.00 |
128.46 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
| Enterprise Value to Free Cash Flow (EV/FCFF) |
|
2.23 |
1.67 |
0.00 |
0.00 |
0.00 |
12.65 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
| Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Debt to Equity |
|
2.01 |
3.03 |
2.54 |
2.96 |
2.67 |
3.47 |
3.88 |
4.20 |
5.50 |
6.19 |
7.00 |
| Long-Term Debt to Equity |
|
2.01 |
2.80 |
2.36 |
2.79 |
2.51 |
3.17 |
3.80 |
4.20 |
5.36 |
5.95 |
6.85 |
| Financial Leverage |
|
2.94 |
4.45 |
2.23 |
2.48 |
2.33 |
3.23 |
3.16 |
3.51 |
3.84 |
4.70 |
5.13 |
| Leverage Ratio |
|
4.44 |
5.70 |
3.63 |
3.80 |
3.72 |
4.51 |
4.45 |
4.80 |
5.18 |
6.08 |
6.56 |
| Compound Leverage Factor |
|
4.44 |
5.70 |
3.63 |
3.80 |
3.72 |
4.51 |
4.45 |
4.80 |
5.18 |
6.08 |
6.56 |
| Debt to Total Capital |
|
66.75% |
75.22% |
71.71% |
74.76% |
72.78% |
77.64% |
79.52% |
80.78% |
84.61% |
86.09% |
87.50% |
| Short-Term Debt to Total Capital |
|
0.00% |
5.86% |
4.92% |
4.28% |
4.40% |
6.78% |
1.67% |
0.00% |
2.12% |
3.39% |
1.91% |
| Long-Term Debt to Total Capital |
|
66.75% |
69.35% |
66.79% |
70.48% |
68.38% |
70.86% |
77.86% |
80.78% |
82.49% |
82.71% |
85.59% |
| Preferred Equity to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
| Noncontrolling Interests to Total Capital |
|
31.85% |
23.66% |
27.07% |
24.20% |
26.06% |
21.35% |
19.52% |
18.28% |
14.55% |
12.81% |
11.24% |
| Common Equity to Total Capital |
|
1.39% |
1.12% |
1.21% |
1.04% |
1.16% |
1.02% |
0.95% |
0.94% |
0.84% |
1.09% |
1.26% |
| Debt to EBITDA |
|
5.31 |
9.78 |
18.79 |
21.73 |
22.14 |
-327.49 |
32.10 |
68.05 |
-95.32 |
33.05 |
-190.70 |
| Net Debt to EBITDA |
|
4.68 |
9.06 |
16.88 |
20.15 |
20.19 |
-308.53 |
30.06 |
63.32 |
-90.26 |
31.73 |
-182.62 |
| Long-Term Debt to EBITDA |
|
5.31 |
9.02 |
17.50 |
20.49 |
20.80 |
-298.90 |
31.42 |
68.05 |
-92.93 |
31.75 |
-186.53 |
| Debt to NOPAT |
|
5.52 |
10.33 |
21.44 |
24.71 |
25.16 |
-160.87 |
38.27 |
101.09 |
-97.95 |
38.60 |
-149.89 |
| Net Debt to NOPAT |
|
4.87 |
9.57 |
19.26 |
22.91 |
22.94 |
-151.55 |
35.84 |
94.06 |
-92.75 |
37.06 |
-143.54 |
| Long-Term Debt to NOPAT |
|
5.52 |
9.52 |
19.97 |
23.29 |
23.64 |
-146.82 |
37.47 |
101.09 |
-95.50 |
37.09 |
-146.61 |
| Noncontrolling Interest Sharing Ratio |
|
95.73% |
95.49% |
95.65% |
95.78% |
95.77% |
95.46% |
95.54% |
95.54% |
95.24% |
93.95% |
93.18% |
| Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Free Cash Flow to Firm (FCFF) |
|
5,092 |
8,943 |
-917 |
-1,625 |
-857 |
1,403 |
-1,657 |
-367 |
-2,772 |
-3,663 |
-1,267 |
| Operating Cash Flow to CapEx |
|
-10,185.52% |
-43,320.40% |
25,061.90% |
-34,563.57% |
5,465.37% |
-4,830.12% |
-31,589.56% |
-11,046.45% |
-17,760.44% |
-6,550.80% |
3,343.27% |
| Free Cash Flow to Firm to Interest Expense |
|
69.62 |
0.00 |
-14.48 |
-19.72 |
0.00 |
0.00 |
-16.80 |
-3.38 |
0.00 |
0.00 |
0.00 |
| Operating Cash Flow to Interest Expense |
|
-7.49 |
0.00 |
31.49 |
-22.37 |
0.00 |
0.00 |
-22.32 |
-12.12 |
0.00 |
0.00 |
0.00 |
| Operating Cash Flow Less CapEx to Interest Expense |
|
-7.56 |
0.00 |
31.37 |
-22.44 |
0.00 |
0.00 |
-22.40 |
-12.23 |
0.00 |
0.00 |
0.00 |
| Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Asset Turnover |
|
0.17 |
0.13 |
0.13 |
0.12 |
0.12 |
0.10 |
0.11 |
0.10 |
0.08 |
0.16 |
0.14 |
| Fixed Asset Turnover |
|
16.08 |
15.60 |
9.24 |
9.24 |
9.83 |
8.77 |
9.17 |
8.49 |
7.52 |
14.79 |
12.16 |
| Capital & Investment Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Invested Capital |
|
10,203 |
12,797 |
10,162 |
11,676 |
11,361 |
11,066 |
12,000 |
12,120 |
14,165 |
14,769 |
13,084 |
| Invested Capital Turnover |
|
0.19 |
0.14 |
0.14 |
0.13 |
0.14 |
0.11 |
0.12 |
0.11 |
0.09 |
0.17 |
0.15 |
| Increase / (Decrease) in Invested Capital |
|
-4,766 |
-8,991 |
819 |
1,854 |
1,158 |
-1,731 |
1,838 |
443 |
2,804 |
3,703 |
1,085 |
| Enterprise Value (EV) |
|
13,395 |
16,586 |
16,535 |
19,320 |
17,830 |
21,227 |
22,705 |
22,398 |
27,021 |
23,482 |
21,161 |
| Market Capitalization |
|
4,134 |
4,638 |
7,237 |
8,400 |
7,330 |
10,771 |
11,425 |
11,072 |
13,612 |
9,382 |
8,727 |
| Book Value per Share |
|
$0.09 |
$0.09 |
$0.08 |
$0.08 |
$0.08 |
$0.07 |
$1.21 |
$0.07 |
$0.07 |
$0.10 |
$1.00 |
| Tangible Book Value per Share |
|
$0.09 |
$0.09 |
$0.08 |
$0.08 |
$0.08 |
$0.07 |
$1.21 |
$0.07 |
$0.07 |
$0.10 |
$1.00 |
| Total Capital |
|
10,203 |
12,797 |
10,162 |
11,676 |
11,361 |
11,066 |
12,000 |
12,120 |
14,165 |
14,769 |
13,084 |
| Total Debt |
|
6,811 |
9,625 |
7,287 |
8,729 |
8,269 |
8,591 |
9,543 |
9,791 |
11,984 |
12,715 |
11,449 |
| Total Long-Term Debt |
|
6,811 |
8,875 |
6,787 |
8,229 |
7,769 |
7,841 |
9,343 |
9,791 |
11,684 |
12,215 |
11,199 |
| Net Debt |
|
6,011 |
8,920 |
6,547 |
8,094 |
7,539 |
8,094 |
8,937 |
9,110 |
11,348 |
12,208 |
10,964 |
| Capital Expenditures (CapEx) |
|
5.38 |
5.87 |
7.95 |
5.34 |
6.33 |
6.82 |
6.97 |
12 |
12 |
8.29 |
18 |
| Net Nonoperating Expense (NNE) |
|
0.00 |
14 |
41 |
0.00 |
0.00 |
133 |
0.00 |
0.00 |
0.00 |
0.00 |
64 |
| Net Nonoperating Obligations (NNO) |
|
6,811 |
9,625 |
7,287 |
8,729 |
8,269 |
8,591 |
9,543 |
9,791 |
11,984 |
12,715 |
11,449 |
| Total Depreciation and Amortization (D&A) |
|
12 |
13 |
13 |
12 |
13 |
12 |
12 |
12 |
13 |
12 |
13 |
| Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Adjusted Basic Earnings per Share |
|
$0.13 |
($0.01) |
($0.13) |
$0.08 |
$0.20 |
($0.29) |
$0.09 |
$0.03 |
($0.06) |
$0.07 |
($0.08) |
| Adjusted Weighted Average Basic Shares Outstanding |
|
92.57M |
92.48M |
92.92M |
93.11M |
93.29M |
93.25M |
94.37M |
95.39M |
99.80M |
111.37M |
164.10M |
| Adjusted Diluted Earnings per Share |
|
$0.13 |
$0.01 |
($0.13) |
$0.08 |
$0.15 |
($0.24) |
$0.09 |
$0.03 |
($0.06) |
$0.07 |
($0.12) |
| Adjusted Weighted Average Diluted Shares Outstanding |
|
92.57M |
92.48M |
92.92M |
93.11M |
1.60B |
93.25M |
1.60B |
95.39M |
99.80M |
111.37M |
1.60B |
| Adjusted Basic & Diluted Earnings per Share |
|
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
| Adjusted Weighted Average Basic & Diluted Shares Outstanding |
|
1.59B |
1.60B |
1.60B |
1.60B |
1.60B |
1.60B |
1.60B |
1.60B |
1.60B |
1.60B |
1.60B |
| Normalized Net Operating Profit after Tax (NOPAT) |
|
326 |
-48 |
-98 |
229 |
301 |
-328 |
181 |
76 |
32 |
41 |
-183 |
| Normalized NOPAT Margin |
|
53.29% |
-9.82% |
-99.74% |
45.30% |
44.45% |
-1,053.01% |
38.31% |
19.15% |
6.07% |
5.29% |
-81.22% |
| Pre Tax Income Margin |
|
54.07% |
-14.03% |
-142.48% |
45.54% |
44.56% |
-1,504.30% |
39.10% |
19.34% |
6.13% |
5.52% |
-116.03% |
| Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| EBIT to Interest Expense |
|
4.52 |
0.00 |
-2.21 |
2.79 |
0.00 |
0.00 |
1.87 |
0.71 |
0.00 |
0.00 |
0.00 |
| NOPAT to Interest Expense |
|
4.45 |
0.00 |
-1.54 |
2.78 |
0.00 |
0.00 |
1.83 |
0.70 |
0.00 |
0.00 |
0.00 |
| EBIT Less CapEx to Interest Expense |
|
4.44 |
0.00 |
-2.33 |
2.73 |
0.00 |
0.00 |
1.80 |
0.60 |
0.00 |
0.00 |
0.00 |
| NOPAT Less CapEx to Interest Expense |
|
4.38 |
0.00 |
-1.67 |
2.71 |
0.00 |
0.00 |
1.76 |
0.59 |
0.00 |
0.00 |
0.00 |
| Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Dividend Payout Ratio |
|
51.79% |
84.56% |
187.62% |
180.54% |
193.93% |
-914.38% |
273.59% |
754.41% |
-437.60% |
228.85% |
-730.54% |
| Augmented Payout Ratio |
|
51.79% |
84.56% |
187.62% |
180.54% |
193.93% |
-914.38% |
273.59% |
754.41% |
-437.60% |
228.85% |
-730.54% |
Key Financial Trends
UWM Holdings Corp (NYSE: UWMC) has shown significant fluctuations in its financial performance and financial position over the last four years. Below are some key observations and trends from the quarterly financial statements spanning Q3 2022 through Q1 2025.
- Revenue Growth and Volatility: Total revenue peaked around Q3 2023 at $677 million but declined sharply to about $225 million by Q1 2025. The revenue was notably supported by large fluctuations in net realized & unrealized capital gains on investments and other service charges, showing the firm's exposure to investment market volatility.
- Improvement in Net Interest Income in Recent Quarters: Net interest income rose significantly from a few million USD in early 2023 to $118 million in Q1 2025, indicating some strengthening core business income from loans and leases, albeit the net interest expense was mostly zero or negative in later quarters.
- Large Operating Loss in Q1 2025: The company reported a consolidated net loss of $247 million in Q1 2025, the worst quarter in recent history, a decline from profitability in 2023 and 2024 quarters. This was largely due to the significant increase in non-interest expenses totaling almost $486 million and negative other non-interest income (-$388 million).
- Operating Expense Growth: Non-interest expenses have increased substantially over the periods, with items such as other operating expenses reaching $262 million in Q1 2025, up from much lower amounts in earlier years. This has pressured margins and profitability.
- Cash Flow from Operations Recovery in Q1 2025: Despite losses, Q1 2025 showed $594 million net cash from operating activities, driven by significant positive changes in operating assets and liabilities, which reflects operational cash flow management or working capital adjustments.
- Heavy Debt and Long-Term Leverage Position: Total liabilities remain very high, around $12.4 billion in Q1 2025 with long-term debt accounting for nearly $11.2 billion, showing the company’s reliance on debt financing and risk of high interest burdens.
- Decline in Equity and Noncontrolling Interest: Total equity and noncontrolling interests have decreased from over $3.3 billion in 2022-2023 to approximately $1.6 billion in Q1 2025, indicating erosion of shareholder value primarily due to ongoing losses.
- Fluctuations in Cash and Securities: Cash and equivalents declined from $799 million in Q3 2022 to $485 million in Q1 2025, while trading securities showed large changes, reflecting active portfolio management or liquidity needs.
- Depreciation and Capex Trends: Depreciation expense has remained relatively stable around $11-13 million quarterly, while capital expenditures have increased slightly but remain modest relative to cash flows.
- Dividends and Financing Activities: The company continues to pay dividends between $150-210 million quarterly, even in loss quarters, which might pressure free cash flow, alongside considerable debt repayments exceeding issuances in several recent quarters.
Summary: UWM’s financials reveal a business dealing with volatile market-driven investment income and rising operating expenses, leading to swings between profitability and losses. The strong increase in total liabilities and erosion in equity pose financial risk concerns, while cash flow from operations shows some resilience. Investors should watch how the company manages cost control, profitability recovery, and debt leverage going forward.
10/25/25 05:48 AM ETAI Generated. May Contain Errors.