Webull Corporation (BULL) AI Stock Analysis

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Webull Corporation

(NASDAQ:BULL)

Rating:51Neutral

Price Target:

$13.50

▼(-0.66% Downside)

Webull's overall stock score is primarily influenced by its financial challenges, including declining profitability and high financial risk. However, positive earnings call highlights, such as strong revenue and user growth, provide some optimism. Technical analysis and valuation concerns further moderate the score.

Webull Corporation (BULL) vs. SPDR S&P 500 ETF (SPY)

Market Cap

$6.59B

Dividend YieldN/A

Average Volume (3M)14.52M

Price to Earnings (P/E)93.3

Beta (1Y)-0.32

Revenue GrowthN/A

EPS GrowthN/A

CountryUS

Employees1,194

SectorFinancial

Sector Strength78

IndustrySoftware - Application

Share Statistics

EPS (TTM)-1.20

Shares Outstanding401,758,850

10 Day Avg. Volume11,423,652

30 Day Avg. Volume14,517,580

Financial Highlights & Ratios

PEG RatioN/A

Price to Book (P/B)N/A

Price to Sales (P/S)N/A

P/FCF RatioN/A

Enterprise Value/Market Cap0.55

Enterprise Value/Revenue9.27

Enterprise Value/Gross Profit11.64

Enterprise Value/Ebitda-710.87

Forecast

1Y Price Target

$13.50

Price Target Upside-0.66% Downside

Rating ConsensusHold

Number of Analyst Covering0

Webull Corporation Business Overview & Revenue Model

Company DescriptionWebull 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.

How the Company Makes MoneyWebull Corporation generates revenue primarily through the payment for order flow (PFOF), where it receives compensation for directing trades to specific market makers. Additionally, the company earns from interest on margin accounts, where users borrow funds to trade. Webull also offers premium subscription services that provide enhanced analytic tools and data, adding another revenue stream. Despite offering commission-free trading, Webull leverages these revenue models to maintain profitability. Strategic partnerships with financial institutions and data providers further support its revenue generation by enhancing platform offerings and user experience.

Webull Corporation Earnings Call Summary

Earnings Call Date:Aug 28, 2025

(Q2-2025)

% Change Since: |

Next Earnings Date:May 21, 2026

Earnings Call Sentiment Positive

Webull's earnings call for Q2 2025 reflected a robust performance with substantial revenue growth, sustained profitability, and record customer assets. The reintroduction of crypto trading and expansion of Webull Premium highlighted their strategic product innovations. However, the increase in operating expenses and the roll-off of inactive accounts were noted as challenges. Overall, the sentiment is positive due to the strong revenue and user growth outshining the challenges.

Q2-2025 Updates

Positive Updates

Significant Revenue Growth

Webull reported total revenues of $131.5 million for Q2 2025, up 46% year-over-year, with revenue growth outpacing operating expenses growth.

Operating Profitability Achieved

Webull achieved three consecutive quarters of operating profitability, with an adjusted operating profit of $23.3 million and an 18 percentage point improvement in operating margin year-over-year.

Record Customer Assets

Customer assets grew 64% year-over-year to $15.9 billion, setting an all-time high for the company.

Strong User Growth

Webull added approximately 800,000 new users, bringing total registered users to 24.9 million, reflecting an 18% year-over-year growth.

Successful Product Launches

Webull Premium attracted 75,000 subscribers since its launch in March, surpassing internal targets. Crypto trading was reintroduced in the U.S., Brazil, and Australia.

Negative Updates

Increased Operating Expenses

Adjusted operating expenses increased by 20% year-over-year to $108.2 million, driven by higher brokerage and transaction charges and increased marketing spend.

Inactive Accounts

Despite adding 144,000 new funded accounts, net funded accounts only increased by about 10,000, due to around 100,000 inactive accounts rolling off.

Company Guidance

During Webull's Second Quarter 2025 Conference Call, the company provided guidance on several key financial metrics and strategic initiatives. Webull achieved a notable year-over-year revenue growth of 46%, reaching $131.5 million, while operating expenses increased by 20% to $108.2 million. The adjusted operating profit for the quarter was $23.3 million, reflecting a year-over-year increase in adjusted operating profit margin of 18 percentage points. Additionally, Webull reported a 64% year-over-year growth in customer assets, reaching $15.9 billion. The company emphasized its strategic focus on expanding product offerings and geographic reach, with recent launches in the crypto market in the U.S., Brazil, and Australia, and continued expansion into Latin American and European markets. Webull's registered users grew by 18% year-over-year to 24.9 million, and the company plans to leverage a $1 billion standby equity purchase agreement to further its growth and innovation initiatives.

Webull Corporation Financial Statement Overview

Summary

Webull Corporation is facing considerable financial challenges. The income statement shows declining profitability with a shift to a significant loss in 2024. The balance sheet indicates high financial risk and insolvency with negative stockholders' equity. Although cash flow remains positive, inconsistencies and declining operational cash flows suggest potential liquidity issues.

Income Statement

Neutral

The income statement reveals a concerning trend with declining profitability. Despite stable revenue over three years, the company experienced a shift from positive net income in 2022 to a significant loss in 2024. Gross profit margins remain decent, but negative EBIT and EBITDA margins in 2024 highlight operational inefficiencies.

Balance Sheet

Negative

The balance sheet shows high financial risk with negative stockholders' equity, indicating insolvency. The debt-to-equity ratio is not calculable but suggests a highly leveraged position. The equity ratio is negative, reflecting the company's financial distress and potential risks.

Cash Flow

Neutral

Cash flow analysis indicates fluctuating operational cash flows with a decline from a strong position in 2023 to a lower value in 2024. The free cash flow remains positive, but the operating cash flow to net income ratio shows inconsistency, pointing to potential cash management issues.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	390.23M	389.60M	388.33M	0.00
Gross Profit	310.92M	323.18M	328.57M	0.00
EBITDA	-8.42M	27.66M	72.06M	372.14K
Net Income	-22.69M	6.07M	50.08M	-33.83K
Balance Sheet
Total Assets	2.07B	1.26B	1.09B	31.98K
Cash, Cash Equivalents and Short-Term Investments	378.98M	417.87M	436.71M	0.00
Total Debt	15.41M	13.07M	12.14M	0.00
Total Liabilities	1.46B	695.88M	2.54B	40.82K
Stockholders Equity	605.50M	563.60M	-1.45B	-8.83K
Cash Flow
Free Cash Flow	182.80M	466.05M	-62.76M	8.83K
Operating Cash Flow	185.22M	470.60M	-31.21M	8.83K
Investing Cash Flow	-2.41M	-10.04M	-32.43M	0.00
Financing Cash Flow	40.35M	12.84M	17.89M	0.00

Webull Corporation Technical Analysis

Technical Analysis Sentiment

Negative

Last Price13.59

Price Trends

50DMA

14.06

Negative

100DMA

14.97

Negative

200DMA

13.31

Positive

Market Momentum

MACD

0.02

Positive

RSI

43.19

Neutral

STOCH

15.79

Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BULL, the sentiment is Negative. The current price of 13.59 is below the 20-day moving average (MA) of 14.97, below the 50-day MA of 14.06, and above the 200-day MA of 13.31, indicating a neutral trend. The MACD of 0.02 indicates Positive momentum. The RSI at 43.19 is Neutral, neither overbought nor oversold. The STOCH value of 15.79 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BULL.

Webull Corporation Risk Analysis

Webull Corporation disclosed 106 risk factors in its most recent earnings report. Webull Corporation reported the most risks in the "Finance & Corporate" category.

Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy

Latest Risks Added 0 New Risks

Webull Corporation Peers Comparison

Overall Rating

UnderperformOutperform

Sector (68)

Financial Indicators

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
FUTU	80 Outperform	$29.18B	25.70	26.43%	―	66.97%	86.46%
HOOD	78 Outperform	$92.45B	52.84	23.54%	―	58.58%	508.72%
IBKR	78 Outperform	$27.71B	32.64	19.15%	0.80%	12.30%	20.76%
SCHW	74 Outperform	$173.97B	25.80	15.59%	1.11%	4.64%	54.26%
SOFI	72 Outperform	$30.27B	51.51	8.80%	―	22.60%	―
Sector *	68 Neutral	$17.90B	11.86	10.29%	3.72%	9.74%	1.66%
BULL	51 Neutral	$6.59B	93.34	-3.09%	―	―	―

* Financial Sector Average

Performance Comparison

BULL

Webull Corporation

13.59

2.31

20.48%

IBKR

Interactive Brokers

62.24

30.56

96.46%

SCHW

Charles Schwab

95.84

31.87

49.82%

FUTU

Futu Holdings

185.60

125.80

210.37%

SOFI

SoFi

25.54

18.01

239.18%

HOOD

Robinhood

104.03

84.66

437.07%

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Aug 30, 2025