Filing Flows › UWM Holdings (UWMC) › Q4 2025
UWM Holdings (UWMC) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 25, 2026
UWM Holdings (UWMC) reported revenue of $945M for the fourth quarter 2025 (Q4 2025), +31% from a year earlier and +12% from the quarter before. Operating margin was 17.9%, net earnings $19.4M (2.1% of revenue).
UWM Holdings, Q4 2025: revenue $945M (+31% year over year), operating margin 17.9%, net earnings $19.4M, operating cash flow $104M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $945M | +12% | +31% |
| Operating profit | $170M | 13× | +301% |
| Net earnings | $19.4M | — | +118% |
| Operating cash flow | $104M | — | — |
| Free cash flow | $82.0M | — | — |
What changed
Revenue was $945.2M in Q4 2025, up 31% year over year and up 12% from the previous quarter.
Operating profit was $169.6M, a 17.9% margin (up 12.1 points year over year). Of the extra revenue versus a year earlier, 57% reached operating profit, above the 6% margin then. Total costs grew 14% against revenue growth of 31%. Net earnings were $19.4M, up 118% year over year. The effective tax rate was 3.0%.
Operating cash flow was $103.8M, 63% of net income including minority interests. Non-cash charges added back $15.2M of depreciation and amortization and $15.6M of share-based compensation. Working capital and other items used $91.5M. Capital expenditures of $21.7M left free cash flow of $82.0M.
Questions
What was UWM Holdings' revenue in the fourth quarter 2025?
UWM Holdings (UWMC) reported revenue of $945M for the fourth quarter 2025 (Q4 2025), +31% from a year earlier and +12% from the quarter before.
Was UWM Holdings profitable in the fourth quarter 2025?
Operating profit was $170M (17.9% of revenue) and net earnings $19.4M.
Source: UWM Holdings 10-K on SEC EDGAR.