• UWM Holdings average operating margin for 2023 was 34.13%, a 39.44% decline from 2022.
• UWM Holdings average operating margin for 2022 was 56.36%, a 21.37% decline from 2021.
• UWM Holdings average operating margin for 2021 was 71.68%, a 0.32% decline from 2020.

Operating margin can be defined as operating margin measurement of what proportion of a company's revenue is left over after paying for variable costs of production such as wages, raw materials, etc.