Qfin Holdings, Inc. vs UWM HOLDINGS CORPORATION, two Mortgage Finance stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Neither top line's growth prints here, but the models say where growth would come from: Qfin compounds by matching more Chinese borrowers at a 31.1% net margin, UWM by originating more mortgages when rates finally allow, currently at 1.9%. The multiples, 5 and 6.6 times, are twin discounts for unrelated reasons: jurisdiction and cycle. Qfin's balance sheet is clean with a 36% free-cash yield; UWM's carries 1.86 turns and warehouse cash noise. Returns on equity, 24.7% against 4.2%. Two of the sector's cheapest names, one earning at full capacity and distrusted, one earning at minimum capacity and tolerated; the pair is a taxonomy of discounts more than a comparison of firms.
Comparison updated 2026-07-10.
| Metric | QFIN | UWMC |
|---|---|---|
| Price | $15.82 | $2.19 |
| Market cap | $4.3B | $3.5B |
| Sector | Financial Services | Financial Services |
| Stage | Mature | Growth |
| Implied growth (priced in) | — | +12.6% |
| P/E | 5.0 | 6.6 |
| P/B | 1.25 | 2.19 |
| P/S | 1.57 | 1.02 |
| EV/EBITDA | 3.8 | 103.7 |
| Revenue growth | +1.7% | +28.3% |
| Operating margin | 34.8% | — |
| Net margin | 31.1% | 1.9% |
| Return on equity | 24.7% | 4.2% |
| Return on assets | 10.5% | 0.3% |
| Debt / equity | 0.00 | 1.86 |
| Current ratio | 2.43 | — |
| Altman Z (solvency) | 2.49 | 0.31 |
| Piotroski F (quality) | 6 / 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.