Webull Corporation Class A Ordinary Shares (BULL) 10-Year Financial Performance & Capital Metrics

BULL • • Industrial / General

TechnologyApplication SoftwareFinancial Technology & PaymentsTrading & Investment Platforms

AboutWebull Corporation operates as a digital investment platform. The company offers trading services, wealth management product distribution, market data and information, user community, and investor education.Show more

Revenue $390M +0.2%
EBITDA -$8M -127.8%
Net Income -$23M -473.9%
EPS (Diluted) -1.13 -54.8%
Gross Margin 79.68% -3.9%
EBITDA Margin -1.97% -127.7%
Operating Margin -3.68% -162.4%
Net Margin -5.82% -473.3%
ROE -3.88% -444.1%
ROIC -3.87% -133.6%
Debt/Equity 0.03 +9.6%
Interest Coverage -116.90

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓FCF machine: 46.8% free cash flow margin

✗Weaknesses

✗Weak 3Y average ROE of 2.3%
✗Weak momentum: RS Rating 11 (bottom 11%)
✗Trading more than 30% below 52-week high
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y-

TTM26.3%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM53.96%

EPS CAGR

10Y-

5Y-

3Y-

TTM108.87%

ROCE

10Y Avg4.91%

5Y Avg4.91%

3Y Avg4.91%

Latest-2.39%

Peer Comparison

Trading & Investment Platforms

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
MKTWMarketWise, Inc.	38.21M	15.81	4.43	-8.81%	1.7%
AGMHAGM Group Holdings Inc.	4.05M	2.00	0.31	-65.51%	9.73%	14.26%	100%	0.10
NUKKNukkleus Inc.	85.47M	3.65	-0.74	-63.55%	-144.07%
MTCMMTec, Inc.	77.32M	3.07	-0.84	114.77%	-35.07%	-122.4%	0.93%	1.22
MFImF International Limited	833.78M	17.00	-1.34	-18.38%	-50.03%	-132.69%		0.21
BULLWebull Corporation Class A Ordinary Shares	3.42B	8.18	-7.24	0.16%	-3.03%	-1.84%	5.35%	0.03
FRGEForge Global Holdings, Inc.	616.78M	44.55	-8.20	13.62%	-67.42%	-30.34%		0.06
BLBXBlackboxstocks Inc.	43.31M	10.06	-9.77	-17.36%	-157.79%	-78.75%		0.06

Profit & Loss

	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	388.33M	389.6M	390.23M
Revenue Growth %	-	0%	0%
Cost of Goods Sold+	59.76M	66.42M	79.31M
COGS % of Revenue	0.15%	0.17%	0.2%
Gross Profit+	328.57M	323.18M	310.92M
Gross Margin %	0.85%	0.83%	0.8%
Gross Profit Growth %	-	-0.02%	-0.04%
Operating Expenses+	260.01M	300.2M	325.28M
OpEx % of Revenue	0.67%	0.77%	0.83%
Selling, General & Admin	209.74M	243.37M	254.77M
SG&A % of Revenue	0.54%	0.62%	0.65%
Research & Development	46.77M	52.16M	63.84M
R&D % of Revenue	0.12%	0.13%	0.16%
Other Operating Expenses	3.5M	4.68M	6.67M
Operating Income+	68.55M	22.98M	-14.35M
Operating Margin %	0.18%	0.06%	-0.04%
Operating Income Growth %	-	-0.66%	-1.62%
EBITDA+	72.06M	27.66M	-7.68M
EBITDA Margin %	0.19%	0.07%	-0.02%
EBITDA Growth %	-	-0.62%	-1.28%
D&A (Non-Cash Add-back)	3.5M	4.68M	6.67M
EBIT	68.55M	22.98M	-11.93M
Net Interest Income+	1.41M	0	-122.78K
Interest Income	1.41M	0	0
Interest Expense	0	0	122.78K
Other Income/Expense	-2.87M	-2.8M	2.3M
Pretax Income+	65.69M	20.18M	-12.05M
Pretax Margin %	0.17%	0.05%	-0.03%
Income Tax+	32.21M	16.14M	13.82M
Effective Tax Rate %	0.76%	0.3%	1.88%
Net Income+	50.08M	6.07M	-22.69M
Net Margin %	0.13%	0.02%	-0.06%
Net Income Growth %	-	-0.88%	-4.74%
Net Income (Continuing)	33.47M	4.04M	-25.87M
Discontinued Operations	16.6M	1.78M	2.69M
Minority Interest	0	660.22K	1.27M
EPS (Diluted)+	-0.00	-0.73	-1.13
EPS Growth %	-	-	-0.55%
EPS (Basic)	-0.00	-0.73	-1.13
Diluted Shares Outstanding	459.36M	459.36M	459.36M
Basic Shares Outstanding	459.36M	459.36M	459.36M
Dividend Payout Ratio	-	-	-

Balance Sheet

	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	1.03B	1.18B	1.93B
Cash & Short-Term Investments	436.71M	417.87M	378.98M
Cash Only	436.22M	372.34M	270.73M
Short-Term Investments	485.89K	45.53M	108.25M
Accounts Receivable	59.55M	101.44M	592.67M
Days Sales Outstanding	55.97	95.03	554.35
Inventory	0	0	0
Days Inventory Outstanding	-	-	-
Other Current Assets	502.41M	627.19M	952M
Total Non-Current Assets+	66.12M	77.47M	136.91M
Property, Plant & Equipment	44.43M	46.21M	99.92M
Fixed Asset Turnover	8.74x	8.43x	3.91x
Goodwill	0	5.2M	5.2M
Intangible Assets	18.04M	21.4M	19.42M
Long-Term Investments	0	0	0
Other Non-Current Assets	90	19.3K	0
Total Assets+	1.09B	1.26B	2.07B
Asset Turnover	0.36x	0.31x	0.19x
Asset Growth %	-	0.15%	0.64%
Total Current Liabilities+	563.11M	680.51M	1.45B
Accounts Payable	82.86M	640.17M	1.39B
Days Payables Outstanding	506.03	3.52K	6.39K
Short-Term Debt	5.24M	3.47M	4.97M
Deferred Revenue (Current)	264.34K	0	0
Other Current Liabilities	444.78M	19M	28.02M
Current Ratio	1.82x	1.74x	1.34x
Quick Ratio	1.82x	1.74x	1.34x
Cash Conversion Cycle	-	-	-
Total Non-Current Liabilities+	15.08M	15.37M	15.73M
Long-Term Debt	0	0	0
Capital Lease Obligations	9.63M	9.59M	10.44M
Deferred Tax Liabilities	5.45M	5.77M	5.29M
Other Non-Current Liabilities	0	0	0
Total Liabilities	578.18M	695.88M	1.46B
Total Debt+	17.38M	13.07M	15.41M
Net Debt	-418.84M	-359.27M	-255.32M
Debt / Equity	0.03x	0.02x	0.03x
Debt / EBITDA	0.24x	0.47x	-
Net Debt / EBITDA	-5.81x	-12.99x	-
Interest Coverage	-	-	-116.90x
Total Equity+	513.5M	564.26M	606.77M
Equity Growth %	-	0.1%	0.08%
Book Value per Share	1.12	1.23	1.32
Total Shareholders' Equity	513.5M	563.6M	605.5M
Common Stock	4.04K	13.71K	13.93K
Retained Earnings	-1.44B	-1.76B	-2.24B
Treasury Stock	0	0	0
Accumulated OCI	-8.52M	-6.86M	-15.2M
Minority Interest	0	660.22K	1.27M

Cash Flow

	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-31.21M	470.6M	185.22M
Operating CF Margin %	-0.08%	1.21%	0.47%
Operating CF Growth %	-	16.08%	-0.61%
Net Income	50.08M	5.82M	-23.18M
Depreciation & Amortization	1.42M	2.78M	3.51M
Stock-Based Compensation	30.02M	29.41M	32.59M
Deferred Taxes	-5.43M	-1.08M	-7.74M
Other Non-Cash Items	713.79K	340.98K	1.15M
Working Capital Changes	-108.02M	433.33M	178.9M
Change in Receivables	3.16M	519.63M	264.63M
Change in Inventory	0	0	0
Change in Payables	-94.98M	-13.75M	11.98M
Cash from Investing+	-32.43M	-10.04M	-2.41M
Capital Expenditures	-31.55M	-4.54M	-2.41M
CapEx % of Revenue	0.08%	0.01%	0.01%
Acquisitions	-	-	-
Investments	-	-	-
Other Investing	0	0	0
Cash from Financing+	17.89M	12.84M	40.35M
Debt Issued (Net)	-	-	-
Equity Issued (Net)	-	-	-
Dividends Paid	0	0	0
Share Repurchases	-	-	-
Other Financing	10M	-7.16M	48.99K
Net Change in Cash	-	-	-
Free Cash Flow+	-62.76M	466.05M	182.8M
FCF Margin %	-0.16%	1.2%	0.47%
FCF Growth %	-	8.43%	-0.61%
FCF per Share	-0.14	1.01	0.40
FCF Conversion (FCF/Net Income)	-0.62x	77.54x	-8.16x
Interest Paid	0	0	26.04K
Taxes Paid	55.17M	19.47M	15.97M

Key Ratios

Metric	2022	2023	2024
Return on Equity (ROE)	9.75%	1.13%	-3.88%
Return on Invested Capital (ROIC)	54.32%	11.5%	-3.87%
Gross Margin	84.61%	82.95%	79.68%
Net Margin	12.9%	1.56%	-5.82%
Debt / Equity	0.03x	0.02x	0.03x
Interest Coverage	-	-	-116.90x
FCF Conversion	-0.62x	77.54x	-8.16x
Revenue Growth	-	0.33%	0.16%

Revenue by Segment

	2024
Other Member	4.1M
Other Member Growth	-

Revenue by Geography

	2024
UNITED STATES	355.02M
UNITED STATES Growth	-
SINGAPORE	10.92M
SINGAPORE Growth	-
HONG KONG	6.69M
HONG KONG Growth	-
Other Member	4.67M
Other Member Growth	-

Frequently Asked Questions

Growth & Financials

Webull Corporation Class A Ordinary Shares (BULL) reported $458.4M in revenue for fiscal year 2024. This represents a 18% increase from $388.3M in 2022.

Webull Corporation Class A Ordinary Shares (BULL) grew revenue by 0.2% over the past year. Growth has been modest.

Webull Corporation Class A Ordinary Shares (BULL) reported a net loss of $13.9M for fiscal year 2024.

Dividend & Returns

Webull Corporation Class A Ordinary Shares (BULL) has a return on equity (ROE) of -3.9%. Negative ROE indicates the company is unprofitable.

Webull Corporation Class A Ordinary Shares (BULL) generated $121.1M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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