UWM Holdings Corporation (UWMC) vs Walker & Dunlop, Inc. (WD)

UWM Holdings Corporation and Walker & Dunlop, Inc. are both Mortgage Finance companies. UWM Holdings Corporation is the larger, with a market value of $2.0B against $1.3B — 1.5× the size. UWM Holdings Corporation has negative trailing earnings, so its P/E is not meaningful; Walker & Dunlop, Inc. trades at 33.9×. Walker & Dunlop, Inc. grew revenue faster over the last twelve months: 8.01% against 3.22%. Walker & Dunlop, Inc. has the higher net margin (2.84% vs −1.66%) and the lower return on invested capital (0.99% vs 1.91%). Both pay a dividend; UWM Holdings Corporation yields more (5.81% vs 2.65%). Across the 21 metrics below, Walker & Dunlop, Inc. leads on 13 and UWM Holdings Corporation on 8.

Valuation

Metric UWMC WD Mortgage Finance median
P/E n/m 33.91 7.11
P/S 0.18 0.98 1.54
P/B 0.42 0.73 0.53
Price to free cash flow n/m n/m 6.59
EV/EBITDA 27.85 8.38 22.03
EV/Sales 6.51 2.37 5.95
Earnings yield (6.56%) 2.95% 2.09%
Free cash flow yield (798.75%) (11.15%) (16.97%)

Profitability

Metric UWMC WD Mortgage Finance median
Gross margin 81.01% 47.09% 84.40%
Operating margin 20.72% 9.18% 12.51%
Net margin (1.66%) 2.84% (0.83%)
Free cash flow margin (147.01%) (10.21%) (45.06%)
Return on equity (2.72%) 2.10% (1.16%)
Return on assets (0.23%) 0.76% 0.38%
Return on invested capital 1.91% 0.99% 0.36%

Growth

Metric UWMC WD Mortgage Finance median
Revenue growth (TTM) 3.22% 8.01% 11.44%
EPS growth (last fiscal year) (7.69%) (48.59%) —
Revenue growth, 5-year CAGR (13.42%) 2.64% (11.16%)
Net income growth, 5-year CAGR (61.84%) (25.48%) 0.00%

Health

Metric UWMC WD Mortgage Finance median
Debt to equity 14.86 1.28 1.22
Current ratio 1.64 0.00 1.38
Net debt to EBITDA 15.25 4.45 9.85

Dividend

Metric UWMC WD Mortgage Finance median
Dividend yield 5.81% 2.65% 5.81%
Payout ratio 5.71 0.58 0.00

Size

Metric UWMC WD Mortgage Finance median
Market cap 1.96b 1.28b 214.95m

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