NASDAQ : BULL
Webull Corporation — Financial statements
Technology · Software - Application · United States
Last price 5.33 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 2.88B
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Financial statements
Webull Corporation (BULL) reported revenue of 672.28M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Interest and Dividend Income | 169.63M | 154.26M | 130.45M | 155.79M | 91.88M |
| Total Interest Expense | 7.46M | 5.46M | 122.78K | ||
| Net Interest Income | 162.17M | 148.79M | 130.33M | 155.79M | 91.88M |
| Brokerage Commission | 110.83M | 87.29M | 49.04M | 30.68M | 8.50M |
| Other Revenue | 399.28M | 328.24M | 209.60M | 202.03M | 287.82M |
| Revenue | 672.28M | 564.33M | 388.97M | 388.50M | 388.21M |
| Salaries & Employee Benefits | 43.17M | 43.87M | 32.59M | 29.41M | 30.02M |
| Cost of Services Provided | 553.03M | 468.65M | 372.00M | 337.21M | 289.76M |
| Other Operating Expenses | -1.15M | -1.20M | -1.14M | -1.10M | -127.77K |
| Total Operating Expenses | 595.06M | 511.32M | 403.45M | 365.52M | 319.65M |
| Operating Income | 77.23M | 53.01M | -14.48M | 22.98M | 68.55M |
| Currency Exchange Gains | -15.92M | -12.19M | 1.97M | -2.30M | 5.51M |
| Other Non-Operating Income (Expenses) | 12.86M | 4.38M | 452.94K | -505.70K | 1.71M |
| EBT Excluding Unusual Items | 74.16M | 45.20M | -12.05M | 20.18M | 75.77M |
| Other Unusual Items | 1.41M | ||||
| Pretax Income | 68.96M | 45.20M | -12.05M | 20.18M | 65.69M |
| Income Tax Expense | 26.54M | 20.83M | 13.82M | 16.14M | 32.21M |
| Earnings From Continuing Ops. | 42.42M | 24.37M | -25.87M | 4.04M | 33.47M |
| Earnings From Discontinued Ops. | 2.69M | 1.78M | 16.60M | ||
| Net Income to Company | 42.42M | 24.37M | -23.18M | 5.82M | 50.08M |
| Minority Interest in Earnings | 183.11K | 404.68K | 488.50K | 247.30K | |
| Net Income | 42.60M | 24.77M | -22.69M | 6.07M | 50.08M |
| Preferred Dividends & Other Adjustments | 512.29M | 495.09M | 340.08M | 51.41M | |
| Net Income to Common | 42.60M | -487.52M | -517.78M | -334.01M | -1.33M |
| Shares Outstanding (Basic) | 518.12M | 397.00M | 138.83M | 137.97M | 134.49M |
| Shares Outstanding (Diluted) | 525.68M | 397.00M | 138.83M | 137.97M | 134.49M |
| EPS (Basic) | 0.08 | -1.23 | -3.73 | -2.42 | -0.01 |
| EPS (Diluted) | 0.08 | -1.23 | -3.73 | -2.42 | -0.01 |
| Free Cash Flow | 32.22M | 561.54M | 182.80M | 466.05M | -62.76M |
| Free Cash Flow Per Share | 0.06 | 1.41 | 1.32 | 3.38 | -0.47 |
| Operating Margin | 11.49% | 9.39% | -3.72% | 5.92% | 17.66% |
| Profit Margin | 6.34% | -86.39% | -133.12% | -85.97% | -0.34% |
| Free Cash Flow Margin | 4.79% | 99.50% | 47.00% | 119.96% | -16.17% |
| Effective Tax Rate | 38.49% | 46.09% | 79.99% | 49.04% | |
| Revenue as Reported | 680.89M | 571.00M | 390.23M | 389.60M | 388.33M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Cash & Equivalents | 701.62M | 653.19M | 270.73M | 372.34M | 436.22M |
| Short-Term Investments | 1.22B | 1.54B | 939.23M | 621.80M | 61.10M |
| Accounts Receivable | 1.71B | 1.28B | 566.97M | 76.29M | 52.14M |
| Other Receivables | 6.21M | 2.99M | 12.94M | 8.48M | |
| Property, Plant & Equipment | 105.49M | 100.25M | 99.92M | 46.21M | 44.43M |
| Goodwill | 25.07M | 30.26M | 5.20M | 5.20M | |
| Other Intangible Assets | 54.27M | 55.43M | 19.42M | 21.40M | 18.04M |
| Investments in Debt & Equity Securities | 223.80M | 172.31M | 108.25M | 45.53M | 485.89K |
| Other Current Assets | 60.81M | 38.43M | 43.58M | 53.77M | 467.15M |
| Long-Term Deferred Tax Assets | 3.45M | 9.35M | 12.37M | 4.65M | 3.65M |
| Other Long-Term Assets | 1.00M | 1.00M | 19.30K | -90.00 | |
| Total Assets | 4.11B | 3.88B | 2.07B | 1.26B | 1.09B |
| Accounts Payable | 2.88B | 2.69B | 1.39B | 642.83M | 83.94M |
| Accrued Expenses | 97.61M | 58.17M | 39.93M | 27.19M | 48.63M |
| Current Portion of Leases | 3.50M | 3.61M | 4.97M | 3.47M | 2.51M |
| Other Current Liabilities | 13.42M | 9.21M | 7.02M | 428.03M | |
| Long-Term Debt | 65.00M | ||||
| Long-Term Leases | 7.62M | 8.91M | 10.44M | 9.59M | 9.63M |
| Long-Term Deferred Tax Liabilities | 13.19M | 13.37M | 5.29M | 5.77M | 5.45M |
| Total Liabilities | 3.07B | 2.86B | 1.46B | 695.88M | 578.18M |
| Common Stock | 5.30K | 5.24K | 1.39K | 13.71K | 4.04K |
| Additional Paid-In Capital | 3.21B | 3.19B | |||
| Retained Earnings | -2.18B | -2.18B | -2.24B | -1.76B | -1.44B |
| Comprehensive Income & Other | 11.82M | 1.52M | -15.20M | -6.86M | -8.52M |
| Total Common Equity | 1.04B | 1.02B | -2.26B | -1.76B | -1.45B |
| Minority Interest | 140.26K | 187.23K | 1.27M | 660.22K | |
| Shareholders' Equity | 1.04B | 1.02B | 606.77M | 564.26M | 513.50M |
| Total Liabilities & Equity | 4.11B | 3.88B | 2.07B | 1.26B | 1.09B |
| Total Debt | 78.73M | 77.52M | 15.41M | 13.07M | 12.14M |
| Net Cash (Debt) | 1.85B | 2.11B | 1.19B | 981.07M | 485.18M |
| Net Cash Per Share | 3.51 | 5.32 | 8.60 | 7.11 | 3.61 |
| Filing Date Shares Outstanding | 529.76M | 531.64M | 461.45M | 40.81M | 40.41M |
| Total Common Shares Outstanding | 529.76M | 523.45M | 139.31M | 40.81M | 40.41M |
| Working Capital | 651.41M | 735.15M | 377.34M | 456.63M | 461.98M |
| Book Value Per Share | 1.97 | 1.94 | -16.20 | -43.20 | -35.95 |
| Tangible Book Value | 964.20M | 930.59M | -2.28B | -1.79B | -1.47B |
| Tangible Book Value Per Share | 1.82 | 1.78 | -16.37 | -43.85 | -36.40 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Net Income | 42.60M | 24.77M | -22.69M | 6.07M | 50.08M |
| Depreciation & Amortization, Total | 3.58M | 3.20M | 3.51M | 2.78M | 4.92M |
| Stock-Based Compensation | 43.17M | 43.87M | 32.59M | 29.41M | 30.02M |
| Change in Accounts Receivable | 19.90M | 524.78M | 264.63M | 519.63M | 3.16M |
| Change in Accounts Payable | -94.98M | ||||
| Change in Other Net Operating Assets | -68.68M | -29.30M | -85.73M | -86.31M | -16.21M |
| Other Operating Activities | -3.65M | -2.39M | -7.41M | -989.55K | -9.18M |
| Operating Cash Flow | 43.46M | 566.42M | 185.22M | 470.60M | -31.21M |
| Capital Expenditures | -11.24M | -4.89M | -2.41M | -4.54M | -31.55M |
| Cash Acquisitions | 51.39M | 51.39M | -5.50M | -109.16K | |
| Investment in Securities | -1.00M | -769.46K | |||
| Investing Cash Flow | 40.15M | 45.50M | -2.41M | -10.04M | -32.43M |
| Short-Term Debt Issued | 30.00M | 5.00M | |||
| Total Debt Issued | 17.53M | 30.00M | 5.00M | ||
| Short-Term Debt Repaid | -65.00M | -5.00M | |||
| Long-Term Debt Repaid | -10.84M | ||||
| Total Debt Repaid | -50.00M | -65.00M | -5.00M | -10.84M | |
| Net Debt Issued (Repaid) | -32.47M | -35.00M | -10.84M | ||
| Issuance of Common Stock | 212.52M | 389.36M | 48.99K | 3.45K | |
| Repurchase of Common Stock | -30.99M | -20.01M | |||
| Other Financing Activities | 8.20M | 17.73M | -7.16M | ||
| Financing Cash Flow | 157.25M | 352.08M | 40.35M | 12.84M | 17.89M |
| Foreign Exchange Rate Adjustments | 17.63M | 16.34M | -7.33M | 2.45M | -5.45M |
| Net Cash Flow | 258.49M | 980.35M | 215.82M | 475.85M | -51.20M |
| Free Cash Flow | 32.22M | 561.54M | 182.80M | 466.05M | -62.76M |
| Free Cash Flow Margin | 4.79% | 99.50% | 47.00% | 119.96% | -16.17% |
| Free Cash Flow Per Share | 0.06 | 1.41 | 1.32 | 3.38 | -0.47 |
| Cash Interest Paid | 5.48M | 3.47M | 26.04K | ||
| Cash Income Tax Paid | 11.84M | 12.04M | 15.97M | 19.47M | 55.17M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Market Capitalization | 2.86B | 3.90B | 174.06M | 283.48M | 266.72M |
| Last Close Price | 5.17 | 7.77 | 11.62 | 10.82 | 10.18 |
| PS Ratio | 4.15 | 6.91 | 0.45 | 0.73 | 0.69 |
| PB Ratio | 2.62 | 3.84 | 0.29 | 0.50 | 0.52 |
| P/FCF Ratio | 86.58 | 6.94 | 0.95 | 0.61 | |
| P/OCF Ratio | 64.19 | 6.88 | 0.94 | 0.60 | |
| Debt / Equity Ratio | 0.07 | 0.08 | 0.03 | 0.02 | 0.02 |
| Debt / FCF Ratio | 2.44 | 0.14 | 0.08 | 0.03 | |
| Net Debt / Equity Ratio | -1.77 | -2.08 | -1.97 | -1.74 | -0.94 |
| Net Debt / FCF Ratio | -57.32 | -3.76 | -6.54 | -2.10 | 7.73 |
| Asset Turnover | 0.20 | 0.19 | 0.23 | 0.33 | |
| Quick Ratio | 1.19 | 1.25 | 1.23 | 1.59 | 0.99 |
| Current Ratio | 1.21 | 1.26 | 1.26 | 1.67 | 1.82 |
| Return on Equity (ROE) | 4.72% | 3.00% | -4.42% | 0.75% | |
| Return on Assets (ROA) | 1.26% | 0.82% | -1.55% | 0.34% | |
| Return on Invested Capital (ROIC) | 4.29% | 3.33% | -2.41% | 0.83% | 6.65% |
| Earnings Yield | 1.49% | 0.64% | -13.04% | 2.14% | 18.78% |
| FCF Yield | 1.16% | 14.40% | 105.02% | 164.40% | -23.53% |
| Buyback Yield / Dilution | -147.11% | -185.96% | -0.63% | -2.58% |