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Webull Corporation (BULL)
NASDAQ:BULL
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Webull Corporation
(NASDAQ:BULL)
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Rating:47Neutral
Price Target:
$11.00
▼(-0.09% Downside)
Webull's overall stock score is primarily impacted by significant financial challenges and bearish technical indicators. Despite positive earnings call sentiment and strategic growth initiatives, the company's financial instability and negative valuation metrics weigh heavily on the score.
Positive Factors
Revenue Growth
Strong revenue growth indicates robust market demand and effective business strategies, positioning Webull for continued expansion and market penetration.
User Growth
Consistent user growth enhances Webull's market presence and potential revenue base, supporting long-term scalability and competitive positioning in the fintech sector.
Product Expansion
Expanding product offerings into new markets like crypto trading diversifies revenue streams and capitalizes on emerging trends, strengthening Webull's competitive edge.
Negative Factors
Declining Profitability
Declining profitability indicates operational inefficiencies and potential challenges in cost management, which could hinder long-term financial stability and growth.
High Leverage
High leverage and negative equity suggest financial instability, limiting Webull's flexibility to invest in growth opportunities and manage economic downturns.
Increased Operating Expenses
Rising operating expenses can erode profit margins and reduce financial resources available for strategic initiatives, impacting long-term competitiveness and profitability.
Webull Corporation (BULL) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$5.44B
Dividend YieldN/A
Average Volume (3M)28.11M
Price to Earnings (P/E)93.3
Beta (1Y)-0.25
Revenue GrowthN/A
EPS GrowthN/A
CountryUS
Employees1,194
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)-0.01
Shares Outstanding411,508,850
10 Day Avg. Volume51,511,316
30 Day Avg. Volume28,106,651
Financial Highlights & Ratios
PEG Ratio0.50
Price to Book (P/B)8.90
Price to Sales (P/S)13.81
P/FCF Ratio29.48
Enterprise Value/Market Cap0.66
Enterprise Value/Revenue9.23
Enterprise Value/Gross Profit11.58
Enterprise Value/Ebitda-559.33
Forecast
1Y Price Target
$18.50Price Target Upside68.03% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
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 generates revenue primarily through several key streams. First, the company earns income from payment for order flow, where it receives compensation from market makers for directing orders through their platforms. This practice allows Webull to offer commission-free trades while still generating revenue. Second, the company charges interest on margin trading, where customers borrow funds to trade larger positions than their account balance allows. Additionally, Webull offers premium subscription services that provide users with enhanced features and tools for advanced trading, further diversifying its revenue. The firm also engages in partnerships with financial institutions and data providers, which can contribute additional revenue through collaborative services and data analytics. Overall, Webull's business model leverages the growth of retail trading and the increasing demand for accessible financial services.
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 faces significant financial challenges. The income statement shows declining profitability with a shift to a net loss in 2024. The balance sheet indicates high financial risk with negative equity, suggesting insolvency. Cash flow remains positive but inconsistent, highlighting potential liquidity issues.Income Statement
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.45
Neutral
Balance Sheet
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.30
Negative
Cash Flow
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.55
Neutral
| 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 | 73.32M | 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 | 578.18M | 40.82K |
| Stockholders Equity | 605.50M | 563.60M | 513.50M | -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
Negative
11.01
Price Trends
13.73
Negative
13.29
Negative
13.59
Negative
Market Momentum
-0.70
Positive
37.22
Neutral
15.42
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 11.01 is below the 20-day moving average (MA) of 13.16, below the 50-day MA of 13.73, and below the 200-day MA of 13.59, indicating a bearish trend. The MACD of -0.70 indicates Positive momentum. The RSI at 37.22 is Neutral, neither overbought nor oversold. The STOCH value of 15.42 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
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | $29.49B | 31.89 | 19.82% | 0.43% | 12.42% | 28.96% | |
77 Outperform | $115.45B | 65.98 | 23.54% | ― | 58.58% | 508.72% | |
75 Outperform | $31.46B | 53.53 | 8.80% | ― | 22.60% | ― | |
71 Outperform | $22.77B | 22.65 | 26.43% | ― | 66.97% | 86.46% | |
70 Outperform | $170.88B | 22.07 | 17.04% | 1.12% | 5.90% | 66.60% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
47 Neutral | $5.44B | 93.34 | -3.09% | ― | ― | ― |
* Technology Sector Average
BULL
Webull Corporation
11.48
0.04
0.35%
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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.