What is Webull Corporation's earnings per share (EPS)?

Webull Corporation (BULL) reported diluted earnings per share of -$1.23 for fiscal year 2025. This represents a 67.0% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Webull Corporation (BULL) Financials

BULL

FY2025 annual

Revenue $571.0M +46.3% YoY

Net Income $24.8M +209.2% YoY

EPS (Diluted) -$1.23 +67.0% YoY

Free Cash Flow $561.5M +207.2% YoY

Market Cap $3.4B as of Oct 9, 2026

Price / Sales 6.0x on $571.0M revenue, FY2025

Price / Earnings 137x on $24.8M net income, FY2025

Price / Book 3.4x on $1.0B equity, Q4 FY2025

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 9, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period FY2025, ended Dec 31, 2025 Reported Apr 9, 2026 Currency USD FYE December

Newest figures come from the 20-F for FY2025, filed Apr 9, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the BULL SEC filings page.

Webull Corporation (BULL) reported $571.0M in revenue for fiscal year 2025, up 46.3% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 4 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI BULL FY2025 2026-10-03

Webull’s 2025 expansion was financed more by balance-sheet and cash-flow movements than by reported earnings growth alone.

Revenue growth accelerated to 46.3% in FY2025, yet net income was only $24.8M, so the larger platform did not translate proportionally into accounting profit. Operating cash flow reached $566M while free cash flow was $562M; their near-match indicates that little cash was absorbed by reinvestment during the year.

Equity moved from -$2.3B in FY2024 to positive $1.0B in FY2025, marking a major change in the company’s financial structure rather than just an improvement in operating results. Liabilities fell to $2.9B, while the current ratio remained 1.3x, suggesting the stronger equity position did not eliminate short-term balance-sheet obligations.

Selling, general and administrative expense rose from $123M to $169M, but it grew more slowly than revenue, indicating some cost absorption as activity expanded. The net margin moved from -5.8% to 4.3%, showing restored profitability, although earnings remain modest relative to sales.

Financial Health Signals

Financial Health Score 40/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Webull Corporation's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Not available for Webull Corporation, and counted as zero in the overall score.

Growth

Webull Corporation's revenue surged 46.3% year-over-year to $571.0M, reflecting rapid business expansion. This strong growth earns a score of 83/100.

Leverage

Webull Corporation has elevated debt relative to equity (D/E of 2.82), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 23/100, reflecting increased financial risk.

Liquidity

Webull Corporation's current ratio of 1.33 indicates adequate short-term liquidity, earning a score of 35/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow

100

Webull Corporation converts 98.3% of revenue into free cash flow ($561.5M). This strong cash generation earns a score of 100/100.

Returns

Not available for Webull Corporation, and counted as zero in the overall score.

Piotroski F-Score Partial

4/6

Webull Corporation passes 4 of 6 computable financial strength tests (3 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.

Earnings Quality Cash-Backed

N/A

Webull Corporation reported $24.8M of net income while generating $566.4M in operating cash flow. The ratio between the two is outside the range this page publishes as a per-dollar figure, so both figures are given instead.

Key Financial Metrics

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Earnings & Revenue

None of these metrics is reported for Q4 2025.

Cash & Balance Sheet

Cash & Debt

$653.2M

YoY+141.3%

QoQ+37.0%

Webull Corporation held $653.2M in cash as of Q4 2025; long-term debt is not reported for that period.

Free Cash Flow

Not reported for Q4 2025.

Dividends Per Share

Not reported for Q4 2025.

Shares Outstanding

Not reported for Q4 2025.

Margins & Returns

None of these metrics is reported for Q4 2025.

Capital Allocation

None of these metrics is reported for Q4 2025.

BULL Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

BULL quarterly income statement

Metric	FY2520-F	FY2420-F	FY2320-F	FY2210-K
Revenue	$571.0M+46.3%	$390.2M+0.2%	$389.6M+0.3%	$388.3M
R&D Expenses	$35.5M+8.6%	$32.7M+2.3%	$32.0M	N/A
SG&A Expenses	$168.6M+37.4%	$122.7M+28.1%	$95.8M+31.3%	$73.0M
Interest Expense	$5.5M+4348.6%	$123K	N/A	N/A
Income Tax	$20.8M+50.7%	$13.8M-14.4%	$16.1M-49.9%	$32.2M
Net Income	$24.8M+209.2%	-$22.7M-473.9%	$6.1M-87.9%	$50.1M
EPS (Basic)	-$1.23+67.0%	-$3.73-54.1%	-$2.42-24100.0%	-$0.01
EPS (Diluted)	-$1.23+67.0%	-$3.73-54.1%	-$2.42-24100.0%	-$0.01
Diluted Shares (Avg)	397M+186.0%	139M+0.6%	138M+2.6%	134M

Metric	Q4'2520-F	Q2'2510-Q	Q1'2510-Q	Q4'2420-F	Q2'2410-Q	Q1'2410-Q	Q4'2310-K
Revenue	N/A	$131.5M+46.3%	N/A	N/A	$89.9M	N/A	N/A
SG&A Expenses	N/A	$51.0M+61.2%	N/A	N/A	$31.6M	N/A	N/A
Interest Expense	N/A	-$1.5M-15000.3%	N/A	N/A	-$10K	N/A	N/A
Income Tax	N/A	$7.0M+401.0%	N/A	N/A	$1.4M	N/A	N/A
Net Income	N/A	-$28.3M-144.3%	$13.1M+205.3%	N/A	-$11.6M	-$12.4M	N/A
EPS (Basic)	N/A	-$1.20-650.0%	N/A	N/A	-$0.16	N/A	N/A
EPS (Diluted)	N/A	-$1.20	N/A	N/A	-$0.16	N/A	N/A
Diluted Shares (Avg)	N/A	431M	N/A	N/A	139M	N/A	N/A

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, Operating Income, EBITDA.

BULL Balance Sheet

BULL quarterly balance sheet

Metric	FY2520-F	FY2420-F	FY2320-F	FY2210-K
Total Assets	$3.9B+87.6%	$2.1B+64.2%	$1.3B	N/A
Current Assets	$3.7B+90.7%	$1.9B+63.3%	$1.2B	N/A
Cash & Equivalents	$653.2M+141.3%	$270.7M-27.3%	$372.3M-14.6%	$436.2M
Short-Term Investments	$0	$0	$0	$0
Accounts Receivable	$5.6M+47.7%	$3.8M+443.6%	$694K	N/A
Long-Term Investments	$0	$0	$0	$0
Goodwill	$30.3M+482.3%	$5.2M0.0%	$5.2M	N/A
Total Liabilities	$2.9B-33.8%	$4.3B+43.1%	$3.0B	N/A
Current Liabilities	$2.8B+92.0%	$1.4B+112.5%	$680.5M	N/A
Non-Current Liabilities	$87.3M+454.8%	$15.7M+2.4%	$15.4M	N/A
Total Equity	$1.0B+145.0%	-$2.3B-28.0%	-$1.8B-21.3%	-$1.5B
Retained Earnings	-$2.2B+2.8%	-$2.2B-27.6%	-$1.8B	N/A

Metric	Q4'2520-F	Q2'2510-Q	Q1'2510-Q	Q4'2420-F	Q2'2410-Q	Q1'2410-Q	Q4'2310-K
Total Assets	$3.9B+87.6%	$2.6B	N/A	$2.1B+64.2%	N/A	N/A	$1.3B
Current Assets	$3.7B+90.7%	$2.5B	N/A	$1.9B+63.3%	N/A	N/A	$1.2B
Cash & Equivalents	$653.2M+141.3%	$476.7M-56.4%	N/A	$270.7M-27.3%	$1.1B	N/A	$372.3M
Short-Term Investments	$0	$0	N/A	$0	$0	N/A	$0
Accounts Receivable	$5.6M+47.7%	N/A	N/A	$3.8M+443.6%	N/A	N/A	$694K
Long-Term Investments	$0	$0	N/A	$0	$0	N/A	$0
Goodwill	$30.3M+482.3%	$5.2M	N/A	$5.2M0.0%	N/A	N/A	$5.2M
Total Liabilities	$2.9B-33.8%	$1.9B	N/A	$4.3B+43.1%	N/A	N/A	$3.0B
Current Liabilities	$2.8B+92.0%	$1.8B	N/A	$1.4B+112.5%	N/A	N/A	$680.5M
Non-Current Liabilities	$87.3M+454.8%	$115.3M	N/A	$15.7M+2.4%	N/A	N/A	$15.4M
Total Equity	$1.0B+145.0%	$751.6M+126.2%	-$2.3B+21.0%	-$2.3B-28.0%	-$2.9B	-$2.9B	-$1.8B
Retained Earnings	-$2.2B+2.8%	-$2.2B	N/A	-$2.2B-27.6%	N/A	N/A	-$1.8B

Not reported in any period shown, so not listed: Inventory, Long-Term Debt.

BULL Cash Flow Statement

BULL quarterly cash flow statement

Metric	FY2520-F	FY2420-F	FY2320-F	FY2210-K
Operating Cash Flow	$566.4M+205.8%	$185.2M-60.6%	$470.6M+1607.7%	-$31.2M
Depreciation & Amortization	$3.2M-8.7%	$3.5M+26.2%	$2.8M+95.1%	$1.4M
Stock-Based Compensation	$43.9M+34.6%	$32.6M+10.8%	$29.4M-2.0%	$30.0M
Capital Expenditures	$4.9M+102.6%	$2.4M-46.9%	$4.5M-85.6%	$31.6M
Free Cash Flow	$561.5M+207.2%	$182.8M-60.8%	$466.1M+842.6%	-$62.8M
Investing Cash Flow	$45.5M+1986.3%	-$2.4M+76.0%	-$10.0M+69.0%	-$32.4M
Financing Cash Flow	$352.1M+772.7%	$40.3M+214.3%	$12.8M-28.2%	$17.9M

Metric	Q4'2520-F	Q2'2510-Q	Q1'2510-Q	Q4'2420-F	Q2'2410-Q	Q1'2410-Q	Q4'2310-K
Stock-Based Compensation	N/A	$27.0M+218.3%	N/A	N/A	$8.5M	N/A	N/A

Not reported in any period shown, so not listed: Operating Cash Flow, Depreciation & Amortization, Capital Expenditures, Free Cash Flow, Investing Cash Flow, Financing Cash Flow, Dividends Paid, Share Buybacks.

BULL Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

BULL quarterly financial ratios

Metric	FY2520-F	FY2420-F	FY2320-F	FY2210-K
Net Margin	4.3%+10.2pp	-5.8%-7.4pp	1.6%-11.3pp	12.9%
Return on Equity	2.4%	N/A	N/A	N/A
Return on Assets	0.6%+1.7pp	-1.1%-1.6pp	0.5%	N/A
Current Ratio	1.330.0x	1.34-0.4x	1.74	N/A
Debt-to-Equity	2.82	N/A	N/A	N/A
Asset Turnover	0.150.0x	0.19-0.1x	0.31	N/A
FCF Margin	98.3%+51.5pp	46.9%	119.6%	-16.2%

Metric	Q4'2520-F	Q2'2510-Q	Q1'2510-Q	Q4'2420-F	Q2'2410-Q	Q1'2410-Q	Q4'2310-K
Net Margin	N/A	-21.5%-8.6pp	N/A	N/A	-12.9%	N/A	N/A
Return on Equity	N/A	-3.8%	N/A	N/A	N/A	N/A	N/A
Return on Assets	N/A	-1.1%	N/A	N/A	N/A	N/A	N/A
Current Ratio	1.330.0x	1.42	N/A	1.34-0.4x	N/A	N/A	1.74
Debt-to-Equity	2.82	2.49	N/A	N/A	N/A	N/A	N/A
Asset Turnover	N/A	0.05	N/A	N/A	N/A	N/A	N/A

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, FCF Margin.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Webull Corporation BULL	FY2025	$571.0M	$24.8M	4.3%	$3.4B	40/100
Clearwater Analytics Holdings, Inc. CWAN	FY2025	$731.4M	-$38.8M	-5.3%	$7.3B	49/100
Lyft, Inc. LYFT	FY2025	$6.3B	$2.8B	45.0%	$6.1B	35/100
CCC Intelligent Solutions Holdings Inc. CCCS	FY2025	$1.1B	$1.7M	0.2%	$5.7B	45/100
Life360, Inc. LIF	FY2025	$489.5M	$150.8M	30.8%	$3.4B	62/100
SoundHound AI, Inc. SOUN	FY2025	$168.9M	-$14K	0.0%	$2.5B	52/100

Where Webull Corporation Ranks

Frequently Asked Questions

What is Webull Corporation's annual revenue?

Webull Corporation (BULL) reported $571.0M in total revenue for fiscal year 2025. This represents a 46.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Webull Corporation's revenue growing?

Webull Corporation (BULL) revenue grew by 46.3% year-over-year, from $390.2M to $571.0M in fiscal year 2025.

Is Webull Corporation profitable?

Yes, Webull Corporation (BULL) reported a net income of $24.8M in fiscal year 2025, with a net profit margin of 4.3%.

What is Webull Corporation's net profit margin?

Webull Corporation (BULL) had a net profit margin of 4.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Webull Corporation's return on equity (ROE)?

Webull Corporation (BULL) has a return on equity of 2.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Webull Corporation's free cash flow?

Webull Corporation (BULL) generated $561.5M in free cash flow during fiscal year 2025. This represents a 207.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Webull Corporation's operating cash flow?

Webull Corporation (BULL) generated $566.4M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Webull Corporation's total assets?

Webull Corporation (BULL) had $3.9B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Webull Corporation's capital expenditures?

Webull Corporation (BULL) invested $4.9M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Webull Corporation spend on research and development?

Webull Corporation (BULL) invested $35.5M in research and development during fiscal year 2025.

What is Webull Corporation's current ratio?

Webull Corporation (BULL) had a current ratio of 1.33 as of fiscal year 2025, which is considered adequate.

What is Webull Corporation's debt-to-equity ratio?

Webull Corporation (BULL) had a debt-to-equity ratio of 2.82 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Webull Corporation's return on assets (ROA)?

Webull Corporation (BULL) had a return on assets of 0.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Webull Corporation's P/E ratio?

Webull Corporation (BULL) trades at 137x earnings, its market capitalization divided by net income of $24.8M net income, FY2025. The market capitalization is $3.4B as of Oct 9, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Webull Corporation's price-to-sales ratio?

Webull Corporation (BULL) trades at 6.0x sales, its market capitalization divided by revenue of $571.0M revenue, FY2025. The market capitalization is $3.4B as of Oct 9, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Webull Corporation's Piotroski F-Score?

Webull Corporation (BULL) has a Piotroski F-Score of 4 out of 6 computable signals; 3 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Webull Corporation's earnings high quality?

Webull Corporation (BULL) reported $24.8M of net income while generating $566.4M in operating cash flow. The ratio between the two is outside the range this page publishes as a per-dollar figure, so both figures are given instead. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Webull Corporation?

Webull Corporation (BULL) scores 40 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.