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UWM Holdings

UWMC on NYSE. UWM Holdings sells home loans to homeowners through mortgage brokers. Market value $829m.

Watch this stockFree. We tell you when something changes.

Price checks use the past 12 months to June 2026. Some use the latest annual report instead, as marked. Quality checks use five annual reports, the latest for the year to December 2025.

Should I look at this?

Not a fit for our list right now

Why it could be worth it

Nothing stands out yet.

What to watch out for

See Financial services stocks that passed both tests

This is not advice. Check the numbers below.

Compare with another stock

Return on equity
five annual reports to December 2025
1.3%five-year median

Yearly profit per dollar of owners' money: 1 cents. Above 10 is good.

Price to book
quarterly report to June 2026
1.9×

What you pay for each dollar of net assets: $1.95.

Earnings yield
past 12 months to June 2026
-1.9%

Profit per $100 you pay: $-1.94.

Quality score: 62 of 100. Price score: 26 of 100. Our list needs 70 on quality and 60 on price.

$1.20 a share, 29% above its 1-year low

Over the past year the price has ranged from $0.93 to $6.15.

Dividend: 4.1% a year

Paid every year for at least 5 years

Payouts have jumped around in recent years, so this may not repeat.

Prices from Tuesday’s close (6 October).

Five years of cash, in billions

n/a
n/a
n/a
n/a
n/a
20212022202320242025
Revenue
$3.0bn$2.4bn$2.2bn$2.7bn$3.2bn
Operating margin
n/an/an/an/an/a
Debt to equity
n/an/an/an/an/a
Shares outstanding
1.60bn0.09bn0.09bn0.11bn1.60bn

Health checks

  • Free cash flow positiveDoesn't apply to banks and insurers
  • Accounting checksDoesn't apply to banks and insurers
  • DebtDoesn't apply to banks and insurers
  • Revenue growth, five yearsShrinking, 8.5% a year
  • Buying back its own sharesRoughly flat

The quarter to June 2026

How the business did, compared with the same quarter a year earlier.

  • Sales: $888 million last quarter, up 17% on a year ago.
  • A loss of $81 million, after a profit of $23 million a year ago.
  • Over the past 12 months it spent $4.9 billion more cash than it brought in, compared with $2.5 billion a year earlier.
  • 67% more shares than a year ago. Each share owns a bit less of the company.
Sales by quarter
Sales by quarter
Quarter toAmount
September 2024$746m
December 2024Not reported
March 2025$613m
June 2025$759m
September 2025$843m
December 2025$945m
March 2026$901m
June 2026$888m
Profit by quarter
Profit by quarter
Quarter toAmount
September 2024-$6m
December 2024$9m
March 2025-$14m
June 2025$23m
September 2025-$1m
December 2025$19m
March 2026$25m
June 2026-$81m

From the company's quarterly reports to the SEC.

Dates

Next results (estimated)
n/a
Last annual report (10-K)
25 February 2026
Next quarterly (estimated, 10-Q)
6 November 2026

Who owns it

1 long-term investor we follow owns it, up from 0 last quarter. 291 funds in all.

Jun '25
Dec '25
Jun '26
Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

8 investors own more than 5%.

  • Mat Ishbia
    Insider or founder
    at least 79.4%−0.3 pts
    (filed with 2 related holders)
    Since 5 August 2026
    What they said

    Item 4 of the Schedule 13D is hereby amended by the addition of the following: The information contained above in Item 3 of this Amendment is incorporated herein by reference. Backstop Agreement In connection with the closing of the Financing, on August 5, 2026, the Issuer, Mat…

    Read the filing
  • FMR LLC
    Passive investor
    at least 9.0%+2.8 pts
    (filed with 1 related holder)
    Since 31 March 2026
  • The Davis Trust #3 dated 6/23/97
    Passive investor
    at least 7.2%
    (filed with 2 related holders)
    Since 17 March 2025
  • OCO Capital GP LLC
    Passive investor
    6.4%
    Since 24 September 2026
  • at least 5.1%
    (filed with 1 related holder)
    Since 30 June 2026
  • Kenneth Griffin
    Passive investor
    at least 2.8%−3.8 pts
    (filed with 6 related holders)
    Since 30 June 2025
  • PLATINUM EQUITY, LLC
    Passive investor
    at least 2.7%
    (filed with 1 related holder)
    Since 30 September 2025
  • Millennium Management LLC
    Passive investor
    at least 2.5%−3.8 pts
    (filed with 3 related holders)
    Since 30 June 2025
  • Sold down below 5%
    Since 30 September 2025
  • Norges Bank
    Passive investor
    Sold down below 5%
    Since 30 June 2026
  • BlackRock, Inc.
    Passive investor
    Sold down below 5%
    Since 31 December 2024
  • Garvin Family Sports, L.L.C.
    Passive investor
    Sold down below 5%
    Since 3 April 2025
  • The Vanguard Group
    Passive investor
    Sold down below 5%
    Since 13 March 2026

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

No insider bought shares on the open market in the last 12 months. 1 sold $462m, $462m of it under preset trading plans.

  • Mat Ishbia
    President and CEO, Director
    Sold
    under a preset trading plan
    Date
    8 May 2026
    Shares
    1,003,333
    Price
    $3.39
    Value
    $3m
  • Mat Ishbia
    President and CEO, Director
    Sold
    under a preset trading plan
    Date
    7 May 2026
    Shares
    1,003,333
    Price
    $3.39
    Value
    $3m
  • Mat Ishbia
    President and CEO, Director
    Sold
    under a preset trading plan
    Date
    6 May 2026
    Shares
    1,003,333
    Price
    $3.66
    Value
    $4m
  • Mat Ishbia
    President and CEO, Director
    Sold
    under a preset trading plan
    Date
    5 May 2026
    Shares
    1,003,333
    Price
    $3.45
    Value
    $3m
  • Mat Ishbia
    President and CEO, Director
    Sold
    under a preset trading plan
    Date
    4 May 2026
    Shares
    1,003,333
    Price
    $3.57
    Value
    $4m
  • Mat Ishbia
    President and CEO, Director
    Sold
    under a preset trading plan
    Date
    1 May 2026
    Shares
    1,001,024
    Price
    $3.62
    Value
    $4m
  • Mat Ishbia
    President and CEO, Director
    Sold
    under a preset trading plan
    Date
    30 April 2026
    Shares
    934,061
    Price
    $3.53
    Value
    $3m
  • Mat Ishbia
    President and CEO, Director
    Sold
    under a preset trading plan
    Date
    29 April 2026
    Shares
    1,000,574
    Price
    $3.50
    Value
    $4m
  • Mat Ishbia
    President and CEO, Director
    Sold
    under a preset trading plan
    Date
    28 April 2026
    Shares
    986,644
    Price
    $3.66
    Value
    $4m
  • Mat Ishbia
    President and CEO, Director
    Sold
    under a preset trading plan
    Date
    27 April 2026
    Shares
    1,000,574
    Price
    $3.78
    Value
    $4m

From Form 4 filings: insiders must report trades in their own company's shares within two days.

Warning signs in its filings

Problems the company itself reported to the SEC, in its own words.

None of the warning signs we check for were found.

We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.

We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 25 Feb 2026, plus the 10-Q filed 7 Aug 2026 and 14 later 8-Ks.

A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.

What could go wrong

  • Sales have shrunk: 8.5% a year.

Whether the price already reflects the risks is what the deep dive is for.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
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What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.