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UWM Holdings (UWMC) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 6, 2026 · UWM Holdings (UWMC) Q3 2026 earnings results →
Q3 2026 Revenue down 4% year over year to $811M · 7¢ of every $1 of revenue kept as net profit · operating margin 27.6%
UWM Holdings made $811M in Q3 2026 (-4% Y/Y). Operating margin 27.6%, net earnings $55.5M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 6, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $811.1M in Q3 2026, down 4% year over year and down 9% from the previous quarter.
Operating profit was $223.7M, a 27.6% margin (up 26.1 points year over year). Total costs fell 29% while revenue fell 4%. Net earnings were $55.5M. The effective tax rate was 5.0%.
Operating cash flow was $26.9M, 13% of net income including minority interests. Non-cash charges added back $15.8M of depreciation and amortization and $10.2M of share-based compensation. Working capital and other items used $211.6M. Capital expenditures of $12.7M left free cash flow of $14.2M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 6, 2026 | $811M | -4% | 27.6% | $55.5M | $26.9M |
| Q2 2026 | 10-Q | Aug 7, 2026 | $888M | +17% | -53.3% | −$452M | $344M |
| Q1 2026 | 10-Q | May 11, 2026 | $901M | +47% | 19.7% | $25.3M | −$2.2B |
| Q4 2025 | 10-K | Feb 25, 2026 | $945M | +31% | 17.9% | $19.4M | $104M |
| Q3 2025 | 10-Q | Nov 6, 2025 | $843M | +13% | 1.5% | $12.1M | −$3.1B |
| Q2 2025 | 10-Q | Aug 7, 2025 | $759M | +22% | 43.4% | $22.9M | −$266M |
| Q1 2025 | 10-Q | May 6, 2025 | $613M | +5% | -42.5% | −$247M | $594M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About UWM Holdings
Unless otherwise indicated or the context otherwise requires, when used in this Annual Report, the term “UWMC” means UWM Holdings Corporation, “UWM” means United Wholesale Mortgage, LLC and the “Company,” “we,” “our” and “us” refer to UWM Holdings Corporation and our subsidiaries. We are the publicly traded indirect parent of United Wholesale Mortgage, LLC (“UWM”). UWM is the largest overall residential mortgage lender as well as the largest purchase lender in the U.S., by closed loan volume, despite originating loans exclusively through the wholesale channel. We originate primarily conforming and government loans across all 50 states and the District of Columbia.
In its own words, from its 10-K, filed Feb 25, 2026.
UWM Holdings against its Mortgage Bankers & Loan Correspondents peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -4% against the peers' median -4%. Operating margin: 27.6% against the peers' median 9.4%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| UWMC UWM Holdings | Q3 2026 | $811M | -4% | 27.6% |
| RKT Rocket Companies | Q3 2026 | $3.3B | +94% | 29.2% |
| PFSI PennyMac Financial Services | Q3 2026 | $469M | -26% | 9.1% |
| ONIT Onity Group | Q3 2026 | $278M | -0.8% | 57.6% |
| FOA Finance of America Companies | Q2 2026 | $62.5M | -65% | -113.7% |
| Korth Direct Mortgage | Q2 2026 | $3.3M | -21% | 9.4% |
| BLNE Beeline Holdings | Q2 2026 | $2.6M | +57% | -171.0% |
Source: UWM Holdings 10-Q on SEC EDGAR · CIK 1783398 · Mortgage Bankers & Loan Correspondents
Guidance and outlook
13F: who owns UWMC and who is buying
More on UWMC
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results