AMERICAN EXPRESS CO vs UWM HOLDINGS CORPORATION, two Mortgage Finance stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
UWM's balance sheet carries 1.86 turns of debt against equity and a free-cash figure of negative 158%, mortgage-warehouse accounting at full churn; American Express carries 1.78 turns that fund receivables the market has priced for a century. Similar leverage, opposite meanings. The multiples split 21.3 against 6.6, and the margins explain: Amex nets 15.1% every year, UWM 1.9% at the origination trough with a wholesale-channel model levered to the next refi wave. Returns on equity, 33% against 4.2%. Amex pays 1%; UWM's dividend is not shown here. The pair prices a franchise against a cycle: one earns through everything, the other is an option on rates, currently near its strike.
Comparison updated 2026-07-10.
| Metric | AXP | UWMC |
|---|---|---|
| Price | $340.48 | $2.19 |
| Market cap | $233.6B | $3.5B |
| Sector | Financial Services | Financial Services |
| Stage | Mature | Growth |
| Implied growth (priced in) | — | +12.6% |
| P/E | 21.3 | 6.6 |
| P/B | 6.87 | 2.19 |
| P/S | 3.15 | 1.02 |
| EV/EBITDA | — | 103.7 |
| Revenue growth | +10.5% | +28.3% |
| Net margin | 15.1% | 1.9% |
| Return on equity | 33.0% | 4.2% |
| Return on assets | 3.6% | 0.3% |
| Dividend yield | 1.0% | — |
| Debt / equity | 1.78 | 1.86 |
| Altman Z (solvency) | 0.87 | 0.31 |
| Piotroski F (quality) | 7 / 9 | 6 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.