BLK
BlackRock, Inc.
BLK has the edge over UWMC overall, supported by lower modeled downside and stronger fundamentals.
UWMC
UWM Holdings Corporation
UWMC offers stronger valuation, but that advantage does not outweigh its weaker overall profile.
BLK Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| N/A | |
| N/A |
BLK's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like BLK.
UWMC Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Stable | |
| N/A | |
| N/A |
UWMC's revenue is currently healthy, and its profitability is stable. Free cash flow and net leverage aren't meaningful measures for financial services companies like UWMC.
BLK PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 19x | $848 | -30% |
| Fair | 22x | $973 | -20% |
| Expensive | 26x | $1,149 | -5.5% |
| Current | 28x | $1,217 | — |
Historical ranges are pointers, not guarantees.
BLK has the edge over UWMC in the historical PE scenario, which offers more potential upside but is not a forecast.
UWMC PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 0.5x | $0.04 | -97% |
| Fair | 1.2x | $0.10 | -92% |
| Forward | 9.3x | $1.27 | — |
| Current | 16x | $1.27 | — |
| Expensive | 59x | $4.69 | +269% |
Historical ranges are pointers, not guarantees.
UWMC's PE is in its fair range at 16x. On analysts' estimates for next year's earnings, today's price would be 9.3x.
BLK Forward outlook
There aren't enough analyst estimates for BLK to show an outlook.
UWMC Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong decline | |
| Decline | |
| Weakening | |
| Limited | |
| Low |
Analysts expect UWMC's earnings and revenue to decline, with profitability weakening. However, they disagree widely on these estimates.
BLK Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | $43.87 | +11% |
| Q2 2026 | $41.73 | -0.4% |
| Q1 2026 | $39.73 | -4.7% |
| Q4 2025 | $35.31 | -17% |
| Q3 2025 | $39.42 | -2.7% |
| Q2 2025 | $41.89 | +4% |
| Q1 2025 | $41.69 | +5.9% |
| Q4 2024 | $42.53 | +16% |
BLK earned $43.87 per share over the past year, up 11% from the year before.
UWMC Earnings Per Share
UWMC and BLK do not have enough comparable growth data to identify a winner.
BLK Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $7.8B | +19% |
| Q2 2026 | $7.1B | +31% |
| Q1 2026 | $6.7B | +27% |
| Q4 2025 | $7B | +23% |
| Q3 2025 | $6.5B | +25% |
| Q2 2025 | $5.4B | +13% |
| Q1 2025 | $5.3B | +12% |
| Q4 2024 | $5.7B | +23% |
BLK's revenue has grown year over year for 13 quarters in a row: $7.8B last quarter, up 19% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 30% | 0 points |
| Q2 2026 | 35% | +2.8 points |
| Q1 2026 | 42% | +9.8 points |
| Q4 2025 | 24% | -13 points |
| Q3 2025 | 30% | -8.6 points |
| Q2 2025 | 32% | -5.5 points |
| Q1 2025 | 32% | -3.6 points |
| Q4 2024 | 37% | +2.3 points |
BLK has the edge over UWMC on profitability, with a higher operating margin.
UWMC Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $811.1M | -3.8% |
| Q2 2026 | $888M | +17% |
| Q1 2026 | $901.4M | +47% |
| Q4 2025 | $945.2M | +69% |
| Q3 2025 | $843.3M | +60% |
| Q2 2025 | $758.7M | +50% |
| Q1 2025 | $613.4M | +7.6% |
| Q3 2024 | $526.4M | -22% |
UWMC's revenue is growing: $811M last quarter, down 3.8% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 28% | +26 points |
| Q2 2026 | -53% | -97 points |
| Q1 2026 | 20% | +62 points |
| Q4 2025 | 18% | +10 points |
| Q3 2025 | 1.5% | -4.6 points |
| Q2 2025 | 43% | +28 points |
| Q1 2025 | -43% | -75 points |
| Q4 2024 | 7.6% | N/A |
UWMC's operating margin was 28% last quarter, up 26 points from the same quarter a year ago.
BLK Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $2.6B | +95% |
| Q2 2026 | $1.1B | -12% |
| Q1 2026 | -$1.1B | +$120M |
| Q4 2025 | $2.1B | -15% |
| Q2 2025 | $1.3B | -6.1% |
| Q1 2025 | -$1.2B | -$734M |
| Q4 2024 | $2.5B | +35% |
| Q2 2024 | $1.4B | +47% |
BLK has the edge over UWMC on cash generation, producing positive trailing cash flow while its opponent burns cash.
UWMC Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $14.2M | +$3.1B |
| Q2 2026 | $334.6M | +$624.6M |
| Q1 2026 | -$2.2B | -490% |
| Q4 2025 | $82M | +$633.6M |
| Q3 2025 | -$3.1B | -$899.1M |
| Q2 2025 | -$290.1M | +$1B |
| Q1 2025 | $576.1M | +$2.8B |
| Q3 2024 | -$2.2B | -745% |
UWMC's free cash flow was −$1.8B over the past year, against −$3.4B the year before. Free cash flow isn't a meaningful measure for financial services companies like UWMC.
BLK Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.1% | -148K shares |
| 1 year | -0.4% | -677K shares |
| 3 years | +9.3% | +14M shares |
| 5 years | +6.2% | +9.6M shares |
| Available history | +4.4% | +7M shares |
BLK has the edge over UWMC on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q2 2025 | $396M |
| Q1 2025 | $657M |
| Q4 2024 | $386M |
| Q2 2024 | $519M |
| Q1 2024 | $634M |
| Q4 2023 | $384M |
| Q3 2023 | $396M |
| Q2 2023 | $383M |
UWMC Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +1.7% | +5.8M shares |
| 1 year | +70% | +141M shares |
UWMC has 343M diluted shares, up 70% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2022 | — |
| Q3 2022 | — |
| Q4 2021 | $60.6M |
| Q3 2021 | $15.3M |
BLK Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.0x | Net Cash |
| Q2 2026 | 0.2x | Very low |
| Q1 2026 | 0.3x | Very low |
| Q4 2025 | 0.2x | Very low |
| Q3 2025 | 0.3x | Very low |
| Q2 2024 | 0.2x | Very low |
| Q1 2024 | 0.3x | Very low |
| Q4 2023 | 0.1x | Very low |
BLK has the edge over UWMC on leverage, with a lower net debt burden relative to earnings.
UWMC Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 16.2x | High |
| Q1 2026 | 3.4x | Elevated |
| Q4 2025 | 8.2x | High |
| Q3 2025 | 16.8x | High |
| Q2 2025 | 12.0x | High |
| Q4 2024 | 5.9x | High |
| Q3 2023 | 3.4x | Elevated |
| Q2 2023 | 3.4x | Elevated |
UWMC's net debt is about 16 years of its operating earnings (EBITDA), up from 12 years a year ago. Net leverage isn't a meaningful measure for financial services companies like UWMC.
BLK Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 64.5 | Neutral |
| Stochastic | 79.0 | Neutral |
BLK's weekly RSI is 64 (neutral) and its Stochastic is 79 (neutral).
UWMC Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 34.7 | Neutral |
| Stochastic | 47.8 | Neutral |
UWMC's weekly RSI is 35 (neutral) and its Stochastic is 48 (neutral).
BLK PE vs Financial Services Sector
| Metric | BLK | Sector median | Relative |
|---|---|---|---|
| PE | 28x | 13x | 113% above |
| PE % | 97 | 63 | 34 pts above |
BLK is trading at 28x earnings, a 113% premium to the Financial Services sector's median of 13x.
UWMC PE vs Financial Services Sector
| Metric | UWMC | Sector median | Relative |
|---|---|---|---|
| PE | 16x | 13x | 22% above |
| PE % | 54 | 64 | 10 pts below |
UWMC has the edge over BLK on valuation relative to its sector.
BLK Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $1,128.0 | 7.9% above |
| 20 week MA | $1,108.9 | 9.7% above |
| 50 week MA | $1,071.6 | 14% above |
| 100 week MA | $1,051.1 | 16% above |
| 200 week MA | $914.1 | 33% above |
BLK has the edge over UWMC on trend strength, trading above more of its moving averages.
UWMC Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $1.30 | 2.3% below |
| 20 week MA | $1.51 | 16% below |
| 50 week MA | $3.02 | 58% below |
| 100 week MA | $4.17 | 70% below |
| 200 week MA | $5.24 | 76% below |
UWMC is in a downtrend: it's below all five of its weekly moving averages, and 76% below its 200-week average.
BLK Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $503.0 | $707.2 | +41% |
| 2021 | $707.2 | $913.9 | +29% |
| 2022 | $913.9 | $703.9 | -23% |
| 2023 | $703.9 | $811.8 | +15% |
| 2024 | $811.8 | $1,044.2 | +29% |
| 2025 | $1,044.2 | $1,088.1 | +4.2% |
| 2026 YTD | $1,088.1 | $1,216.6 | +12% |
BLK has the edge over UWMC on returns for 2026, with the stronger performance.
UWMC Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $9.30 | $12.8 | +37% |
| 2021 | $12.8 | $6.38 | -50% |
| 2022 | $6.38 | $3.56 | -44% |
| 2023 | $3.56 | $7.15 | +101% |
| 2024 | $7.15 | $5.78 | -19% |
| 2025 | $5.78 | $4.59 | -21% |
| 2026 YTD | $4.59 | $1.27 | -72% |
UWMC's yearly returns have swung widely, from +101% in 2023 to −50% in 2021. It's down 72% so far in 2026.