Webull (BULL) Financials

$7.08 +0.06 (+0.85%)

Closing price 05/13/2026 04:00 PM Eastern

Extended Trading

$7.06 -0.03 (-0.35%)

As of 07:49 AM Eastern

Annual Income Statements for Webull

This table shows Webull's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024	2025
Period end date	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-1.33	-328	-540	-488
Consolidated Net Income / (Loss)	100	5.82	-23	49
Net Income / (Loss) Continuing Operations	33	4.04	-26	24
Total Pre-Tax Income	66	20	-12	45
Total Operating Income	69	23	-14	58
Total Gross Profit	329	390	390	442
Total Revenue	329	390	390	442
Operating Revenue	329	390	390	442
Total Cost of Revenue	0.00	0.00	0.00	0.00
Total Operating Expenses	260	367	405	384
Selling, General & Admin Expense	73	96	123	169
Marketing Expense	140	152	139	136
Research & Development Expense	47	52	64	79
Total Other Income / (Expense), net	-2.87	-2.80	2.30	-13
Other Income / (Expense), net	-2.87	-2.80	2.30	-13
Income Tax Expense	32	16	14	21
Net Income / (Loss) Discontinued Operations	17	1.78	2.69	0.00
Preferred Stock Dividends Declared	51	680	990	993
Net Income / (Loss) Attributable to Noncontrolling Interest	0.00	-0.49	-0.98	-0.81
Other Adjustments to Net Income / (Loss) Attributable to Common Shareholders)	-	-	-	31
Basic Earnings per Share	($0.01)	($2.42)	($3.73)	($1.23)
Weighted Average Basic Shares Outstanding	134.49M	137.97M	138.83M	397.00M
Diluted Earnings per Share	($0.01)	($2.42)	($3.73)	($1.23)
Weighted Average Diluted Shares Outstanding	134.49M	137.97M	138.83M	397.00M
Weighted Average Basic & Diluted Shares Outstanding	-	-	461.45M	524.57M

No quarterly income statements for Webull are available.

This table details how cash moves in and out of Webull's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024	2025
Period end date	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-46	473	223	964
Net Cash From Operating Activities	-31	471	185	566
Net Cash From Continuing Operating Activities	-31	471	185	566
Net Income / (Loss) Continuing Operations	50	5.82	-23	24
Consolidated Net Income / (Loss)	50	5.82	-23	24
Depreciation Expense	1.42	2.78	3.51	3.20
Non-Cash Adjustments To Reconcile Net Income	32	-41	-283	-306
Changes in Operating Assets and Liabilities, net	-115	503	488	845
Net Cash From Investing Activities	-32	-10	-2.41	46
Net Cash From Continuing Investing Activities	-32	-10	-2.41	46
Purchase of Property, Plant & Equipment	-32	-4.54	-2.41	-4.89
Acquisitions	-0.11	-5.50	0.00	0.00
Purchase of Investments	-1.01	0.00	0.00	-1.00
Divestitures	-	0.00	0.00	51
Net Cash From Financing Activities	18	13	40	352
Net Cash From Continuing Financing Activities	18	13	40	352
Repayment of Debt	-11	0.00	-5.00	-65
Repurchase of Common Equity	-	0.00	0.00	-20
Payment of Dividends	-	0.00	0.00	-1.69
Issuance of Debt	0.00	0.00	5.00	30
Issuance of Preferred Equity	0.00	20	40	0.00
Issuance of Common Equity	-	0.00	0.00	204
Other Financing Activities, net	84	-7.16	0.05	205

No quarterly cash flow statements for Webull are available.

This table presents Webull's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2023	2024	2025
Period end date	12/31/2023	12/31/2024	12/31/2025
Total Assets	1,260	2,069	3,881
Total Current Assets	1,183	1,932	3,685
Cash & Equivalents	372	271	653
Prepaid Expenses	67	50	50
Other Current Assets	61	262	563
Plant, Property, & Equipment, net	34	34	36
Total Noncurrent Assets	680	1,452	2,579
Goodwill	5.20	5.20	30
Intangible Assets	21	19	55
Noncurrent Deferred & Refundable Income Taxes	4.65	12	9.35
Other Noncurrent Operating Assets	649	1,415	2,484
Total Liabilities & Shareholders' Equity	1,260	2,069	3,881
Total Liabilities	696	1,462	2,864
Total Current Liabilities	681	1,446	2,777
Accounts Payable	50	61	102
Other Current Liabilities	631	1,385	2,675
Total Noncurrent Liabilities	-30	16	87
Long-Term Debt	-	0.00	65
Noncurrent Deferred & Payable Income Tax Liabilities	5.77	5.29	13
Other Noncurrent Operating Liabilities	-36	10	8.91
Commitments & Contingencies	0.00	0.00	0.00
Redeemable Noncontrolling Interest	2,326	2,862	0.00
Total Equity & Noncontrolling Interests	-1,762	-2,255	1,016
Total Preferred & Common Equity	-1,763	-2,256	1,016
Total Common Equity	-1,763	-2,256	1,016
Common Stock	0.01	0.00	3,193
Retained Earnings	-1,756	-2,241	-2,178
Treasury Stock	0.00	0.00	0.00
Accumulated Other Comprehensive Income / (Loss)	-6.86	-15	1.52
Noncontrolling Interest	0.66	1.27	0.19

No quarterly balance sheets for Webull are available.

This table displays calculated financial ratios and metrics derived from Webull's official financial filings.

Metric	2022	2023	2024	2025
Period end date	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	-	-	-	0.00
DEI Adjusted Shares Outstanding	-	-	-	0.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	0.00
Growth Metrics	-	-	-	-
Revenue Growth	0.00%	-1.64%	-3.79%	13.33%
EBITDA Growth	0.00%	-65.79%	-137.22%	666.48%
EBIT Growth	0.00%	-69.28%	-159.72%	475.07%
NOPAT Growth	0.00%	-86.84%	-318.51%	413.74%
Net Income Growth	0.00%	-88.13%	-485.79%	311.96%
EPS Growth	0.00%	-24,100.00%	-54.13%	67.02%
Operating Cash Flow Growth	0.00%	1,607.69%	-60.64%	205.82%
Free Cash Flow Firm Growth	0.00%	0.00%	17.69%	60.61%
Invested Capital Growth	0.00%	0.00%	75.10%	27.45%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	0.00%
EBITDA Q/Q Growth	0.00%	0.00%	0.00%	0.00%
EBIT Q/Q Growth	0.00%	0.00%	0.00%	0.00%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%	0.00%
Net Income Q/Q Growth	0.00%	0.00%	0.00%	0.00%
EPS Q/Q Growth	0.00%	0.00%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	0.00%	0.00%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	0.00%
Profitability Metrics	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	20.42%	7.10%	-2.75%	10.94%
Operating Margin	20.86%	7.11%	-4.62%	13.22%
EBIT Margin	19.99%	6.24%	-3.88%	10.22%
Profit (Net Income) Margin	30.48%	3.68%	-14.75%	11.11%
Tax Burden Percent	152.48%	58.93%	380.69%	108.71%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	49.04%	79.99%	0.00%	46.09%
Return on Invested Capital (ROIC)	0.00%	4.79%	-3.81%	8.25%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.87%	7.34%	4.15%
Return on Net Nonoperating Assets (RNNOA)	0.00%	-0.58%	-4.03%	-2.19%
Return on Equity (ROE)	0.00%	4.21%	-7.84%	6.05%
Cash Return on Invested Capital (CROIC)	0.00%	-195.21%	-58.40%	-15.89%
Operating Return on Assets (OROA)	0.00%	1.60%	-0.72%	1.52%
Return on Assets (ROA)	0.00%	0.94%	-2.76%	1.65%
Return on Common Equity (ROCE)	0.00%	-13.17%	26.89%	-4.62%
Return on Equity Simple (ROE_SIMPLE)	0.00%	-0.67%	2.03%	0.00%
Net Operating Profit after Tax (NOPAT)	35	4.60	-10	32
NOPAT Margin	10.63%	1.42%	-3.23%	7.13%
Net Nonoperating Expense Percent (NNEP)	0.00%	3.92%	-11.14%	4.10%
Return On Investment Capital (ROIC_SIMPLE)	-	-0.26%	0.45%	2.91%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	22.21%	29.64%	39.47%	38.13%
R&D to Revenue	14.24%	16.14%	20.53%	17.90%
Operating Expenses to Revenue	79.14%	92.89%	104.62%	86.78%
Earnings before Interest and Taxes (EBIT)	66	20	-12	45
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	67	23	-8.54	48
Valuation Ratios	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	3.04
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	3.31
Price to Revenue (P/Rev)	0.00	0.00	0.00	6.98
Price to Earnings (P/E)	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	5.83
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	0.00	5.65
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	51.58
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	55.24
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	79.20
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	4.41
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.06
Long-Term Debt to Equity	0.00	0.00	0.00	0.06
Financial Leverage	0.00	-0.66	-0.55	-0.53
Leverage Ratio	0.00	2.23	2.84	3.67
Compound Leverage Factor	0.00	2.23	2.84	3.67
Debt to Total Capital	0.00%	0.00%	0.00%	6.01%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	6.01%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	412.41%	471.84%	0.02%
Common Equity to Total Capital	0.00%	-312.41%	-371.84%	93.97%
Debt to EBITDA	0.00	0.00	0.00	1.34
Net Debt to EBITDA	0.00	0.00	0.00	-12.15
Long-Term Debt to EBITDA	0.00	0.00	0.00	1.34
Debt to NOPAT	0.00	0.00	0.00	2.06
Net Debt to NOPAT	0.00	0.00	0.00	-18.66
Long-Term Debt to NOPAT	0.00	0.00	0.00	2.06
Altman Z-Score	0.00	0.00	0.00	0.29
Noncontrolling Interest Sharing Ratio	0.00%	412.41%	443.20%	176.39%
Liquidity Ratios	-	-	-	-
Current Ratio	0.00	1.74	1.34	1.33
Quick Ratio	0.00	0.55	0.19	0.24
Cash Flow Metrics	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-187	-154	-61
Operating Cash Flow to CapEx	-98.93%	10,356.60%	7,678.18%	11,589.79%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-
Asset Turnover	0.00	0.26	0.19	0.15
Accounts Receivable Turnover	0.00	0.00	0.00	0.00
Inventory Turnover	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	9.42	9.15	12.72
Accounts Payable Turnover	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	0.00	0.00	0.00	0.00
Capital & Investment Metrics	-	-	-	-
Invested Capital	0.00	192	336	428
Invested Capital Turnover	0.00	3.37	1.18	1.16
Increase / (Decrease) in Invested Capital	0.00	192	144	92
Enterprise Value (EV)	0.00	0.00	0.00	2,497
Market Capitalization	0.00	0.00	0.00	3,085
Book Value per Share	$0.00	($12.78)	($16.25)	$2.56
Tangible Book Value per Share	$0.00	($12.97)	($16.43)	$2.34
Total Capital	0.00	564	607	1,081
Total Debt	0.00	0.00	0.00	65
Total Long-Term Debt	0.00	0.00	0.00	65
Net Debt	0.00	-372	-271	-588
Capital Expenditures (CapEx)	32	4.54	2.41	4.89
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	130	215	254
Debt-free Net Working Capital (DFNWC)	0.00	502	486	907
Net Working Capital (NWC)	0.00	502	486	907
Net Nonoperating Expense (NNE)	-65	-7.29	36	-18
Net Nonoperating Obligations (NNO)	0.00	-372	-271	-588
Total Depreciation and Amortization (D&A)	1.42	2.78	3.51	3.20
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	40.17%	69.11%	57.50%
Debt-free Net Working Capital to Revenue	0.00%	155.38%	156.18%	205.19%
Net Working Capital to Revenue	0.00%	155.38%	156.18%	205.19%
Earnings Adjustments	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	($3.73)	($1.23)
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	138.83M	397.00M
Adjusted Diluted Earnings per Share	$0.00	$0.00	($3.73)	($1.23)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	138.83M	397.00M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	461.45M	524.57M
Normalized Net Operating Profit after Tax (NOPAT)	35	16	-10	32
Normalized NOPAT Margin	10.63%	4.98%	-3.23%	7.13%
Pre Tax Income Margin	19.99%	6.24%	-3.88%	10.22%
Debt Service Ratios	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	3.44%
Augmented Payout Ratio	0.00%	0.00%	0.00%	44.15%

No quarterly metrics and ratios for Webull are available.

Financials Breakdown Chart

Webull Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Webull's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Webull's net income appears to be on a downward trend, with a most recent value of $49.14 million in 2025, falling from $100.16 million in 2022. The previous period was -$23.18 million in 2024. See Webull's forecast for analyst expectations on what's next for the company.

Webull's total operating income in 2025 was $58.47 million, based on the following breakdown:

Total Gross Profit: $442.25 million
Total Operating Expenses: $383.77 million

Over the last 3 years, Webull's total revenue changed from $328.57 million in 2022 to $442.25 million in 2025, a change of 34.6%.

Webull's total liabilities were at $2.86 billion at the end of 2025, a 95.9% increase from 2024, and a 311.6% increase since 2023.

In the past 2 years, Webull's cash and equivalents has ranged from $270.73 million in 2024 to $653.19 million in 2025, and is currently $653.19 million as of their latest financial filing in 2025.

Over the last 3 years, Webull's book value per share changed from 0.00 in 2022 to 2.56 in 2025, a change of 256.0%.

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Financial statements for NASDAQ:BULL last updated on 4/13/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Webull (BULL) Financials

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Webull Financials - Frequently Asked Questions

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Webull (BULL) Financials

Annual Income Statements for Webull

Quarterly Income Statements for Webull

Annual Cash Flow Statements for Webull

Quarterly Cash Flow Statements for Webull

Annual Balance Sheets for Webull

Quarterly Balance Sheets for Webull

Annual Metrics And Ratios for Webull

Quarterly Metrics And Ratios for Webull

Financials Breakdown Chart

Webull Financials - Frequently Asked Questions

When does Webull's fiscal year end?

How has Webull's net income changed over the last 3 years?

What is Webull's operating income?

How has Webull's revenue changed over the last 3 years?

How much debt does Webull have?

How much cash does Webull have?

How has Webull's book value per share changed over the last 3 years?

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