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Onity vs UWM: revenue, profit, margins and growth compared

Onity brought in $1.1B of revenue in fiscal 2025, UWM $3.2B in fiscal 2025. Revenue changed by +9.3% at Onity and +18.2% at UWM on the year before, so UWM grew faster. Onity kept 17.8% of its revenue as net profit, UWM 0.9%. Free cash flow was -$750.9M at Onity and -$2.7B at UWM.

Side by side, latest fiscal year

ONITUWMC
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$1.1B$3.2B
Revenue growth+9.3%+18.2%
Net income$189.5M$27.4M
Net margin17.8%0.9%
Free cash flow-$750.9M-$2.7B
Free cash flow margin-70.4%-86.1%
Earnings per share (diluted)$21.46$0.12
Cash$180.5M$503.4M
Debtn/a$3B
Price to earnings1.410.2
Market value$256.9M$2B
Dividend yieldn/an/a
Rank by revenue in sector#186 of 444 · Finance#120 of 444 · Finance

Over the years

Revenue
ONIT FY2018: $1.1BONIT FY2019: $1.1BONIT FY2020: $960.9MONIT FY2021: $1.1BONIT FY2022: $953.9MONIT FY2023: $1.1BONIT FY2024: $976MONIT FY2025: $1.1BUWMC FY2019: $1.3BUWMC FY2020: $4.9BUWMC FY2021: $3BUWMC FY2022: $2.4BUWMC FY2023: $2.2BUWMC FY2024: $2.7BUWMC FY2025: $3.2BFY18FY19FY20FY21FY22FY23FY24FY25
ONIT $1.1BUWMC $3.2B
Net income
ONIT FY2018: -$70.8MONIT FY2019: -$142.1MONIT FY2020: -$40.2MONIT FY2021: $18.1MONIT FY2022: $25.7MONIT FY2023: -$63.7MONIT FY2024: $33.9MONIT FY2025: $189.5MUWMC FY2019: $415.1MUWMC FY2020: -$5.8MUWMC FY2021: $98.4MUWMC FY2022: $41.7MUWMC FY2023: -$13.2MUWMC FY2024: $14.4MUWMC FY2025: $27.4MFY18FY19FY20FY21FY22FY23FY24FY25
ONIT $189.5MUWMC $27.4M
Net margin
ONIT FY2018: -6.7%ONIT FY2019: -12.7%ONIT FY2020: -4.2%ONIT FY2021: 1.7%ONIT FY2022: 2.7%ONIT FY2023: -6.0%ONIT FY2024: 3.5%ONIT FY2025: 17.8%UWMC FY2019: 32.5%UWMC FY2020: -0.1%UWMC FY2021: 3.3%UWMC FY2022: 1.8%UWMC FY2023: -0.6%UWMC FY2024: 0.5%UWMC FY2025: 0.9%FY18FY19FY20FY21FY22FY23FY24FY25
ONIT 17.8%UWMC 0.9%
Revenue growth
ONIT FY2019: +5.7%ONIT FY2020: -14.5%ONIT FY2021: +9.3%ONIT FY2022: -9.2%ONIT FY2023: +11.8%ONIT FY2024: -8.5%ONIT FY2025: +9.3%UWMC FY2020: +286.3%UWMC FY2021: -39.9%UWMC FY2022: -20.1%UWMC FY2023: -8.7%UWMC FY2024: +23.5%UWMC FY2025: +18.2%FY19FY20FY21FY22FY23FY24FY25
ONIT +9.3%UWMC +18.2%
Free cash flow
ONIT FY2018: $263.6MONIT FY2019: $150MONIT FY2020: $256.9MONIT FY2021: -$471.7MONIT FY2022: $167.7MONIT FY2023: $8.2MONIT FY2024: -$574.6MONIT FY2025: -$750.9MUWMC FY2019: -$3.5BUWMC FY2020: -$876KUWMC FY2021: -$10BUWMC FY2022: $8.2BUWMC FY2023: $138.8MUWMC FY2024: -$6.3BUWMC FY2025: -$2.7BFY18FY19FY20FY21FY22FY23FY24FY25
ONIT -$750.9MUWMC -$2.7B

Fiscal years as each company reports them; the two may end in different months.

Questions about Onity and UWM

Which is bigger by revenue, Onity or UWM?

UWM is bigger by revenue: $3.2B in fiscal 2025, against $1.1B for Onity in fiscal 2025.

Which keeps more of its revenue as profit, Onity or UWM?

Onity had a net margin of 17.8% in fiscal 2025; UWM had 0.9% in fiscal 2025.

Which grew revenue faster, Onity or UWM?

In their latest fiscal years revenue changed by +9.3% at Onity and +18.2% at UWM.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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