• UWM Holdings average return on tangible equity for 2023 was 0.13, a 93.33% decline from 2022.
• UWM Holdings average return on tangible equity for 2022 was 1.95, a 98.33% decline from 2021.
• UWM Holdings average return on tangible equity for 2021 was 117.02, a 98.98% decline from 2020.

Return on tangible equity can be defined as the amount of net income returned as a percentage of shareholders equity, after subtracting intangible assets, goodwill and preferred equity.