BULL revenueFY2025$571.00M
- FY YoY
- +46.3%
BULL revenue was $571.00M for fiscal 2025 (ended Dec 31, 2025), up 46.3% from fiscal 2024. It rose in each of the last 3 fiscal years.
Webull Corporation (BULL) financials
For fiscal 2025 (ended Dec 31, 2025), Webull Corporation reported $571.00M of revenue and $24.77M of net income.
- Revenue, FY2025
- $571.00M
- Revenue growth, YoY
- +46.3%
- Net income, FY2025
- $24.77M
- Net margin
- 4.3%
- Free cash flow, FY2025
- $561.54M
- EPS, diluted, FY2025
- -$1.23
- Cash
- $653.19M
- P/E
- 107.28
- P/S
- 4.65
- Market cap
- $2.66B
FY2022FY2025
FY2022FY2025
FY2022FY2025
BULL revenue and earnings growth
BULL net incomeFY2025$24.77M
BULL net income was $24.77M for fiscal 2025 (ended Dec 31, 2025), compared with -$22.69M in fiscal 2024.
BULL EPSFY2025-$1.23
BULL diluted EPS was -$1.23 for fiscal 2025 (ended Dec 31, 2025).
BULL free cash flowFY2025$561.54M
- FY YoY
- +207.2%
BULL free cash flow was $561.54M for fiscal 2025 (ended Dec 31, 2025), up 207.2% from fiscal 2024.
Income statement
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 |
|---|---|---|---|---|
| Revenue | $571.00M | $390.23M | $389.60M | $388.33M |
| Research and development | $35.52M | $32.70M | $31.96M | - |
| Selling, general and admin | $168.64M | $122.71M | $95.79M | $72.96M |
| Interest expense | $5.46M | $122.8K | - | - |
| Pre-tax income | $45.20M | -$12.05M | $20.18M | $65.69M |
| Income tax | $20.83M | $13.82M | $16.14M | $32.21M |
| Net income | $24.77M | -$22.69M | $6.07M | $50.08M |
| EPS, basic | -$1.23 | -$3.73 | -$2.42 | -$0.01 |
| EPS, diluted | -$1.23 | -$3.73 | -$2.42 | -$0.01 |
| Diluted shares | 397.0M | 138.8M | 138.0M | 134.5M |
Balance sheet
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 |
|---|---|---|---|---|
| Cash and equivalents | $653.19M | $270.73M | $372.34M | $436.22M |
| Receivables | $5.57M | $3.77M | $693.8K | - |
| Current assets | $3.68B | $1.93B | $1.18B | - |
| Goodwill | $30.26M | $5.20M | $5.20M | - |
| Total assets | $3.88B | $2.07B | $1.26B | - |
| Current liabilities | $2.78B | $1.45B | $680.51M | - |
| Total liabilities | $2.86B | $1.46B | $695.88M | - |
| Shareholders' equity | $1.02B | -$2.26B | -$1.76B | -$1.45B |
Cash flow
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 |
|---|---|---|---|---|
| Operating cash flow | $566.42M | $185.22M | $470.60M | -$31.21M |
| Capital expenditures | $4.89M | $2.41M | $4.54M | $31.55M |
| Free cash flow | $561.54M | $182.80M | $466.05M | -$62.76M |
| Investing cash flow | $45.50M | -$2.41M | -$10.04M | -$32.43M |
| Financing cash flow | $352.08M | $40.35M | $12.84M | $17.89M |
| Stock-based compensation | $43.87M | $32.59M | $29.41M | $30.02M |
| Depreciation and amortization | $3.20M | $3.51M | $2.78M | $1.42M |
Key ratios
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 |
|---|---|---|---|---|
| Revenue growth, YoY | 46.3% | 0.2% | 0.3% | - |
| Net income growth, YoY | - | - | -87.9% | - |
| Net margin | 4.3% | -5.8% | 1.6% | 12.9% |
| Free cash flow margin | 98.3% | 46.8% | 119.6% | -16.2% |
| Return on equity | 2.4% | - | - | - |
| Return on assets | 0.6% | -1.1% | 0.5% | - |
| Current ratio | 1.33 | 1.34 | 1.74 | - |
Source: XBRL data Webull Corporation files with the SEC, latest filing dated Apr 9, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.
Per-share figures are as filed. The filings show no stock split in these periods.
EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.
Foreign private issuers file annual reports with the SEC, so there are no quarterly statements here.
BULL peers
| Company | Revenue | Growth | Net income | Net margin | Market cap |
|---|---|---|---|---|---|
| BULL | $571.00M | +46.3% | $24.77M | 4.3% | $2.66B |
| MS | $80.16B | +16.2% | $20.45B | 25.5% | $284.96B |
| GS | $69.70B | +18.7% | $22.17B | 31.8% | $249.73B |
| BLK | $28.54B | +24.7% | $6.91B | 24.2% | $182.05B |
| SCHW | $27.06B | +18.1% | $10.64B | 39.3% | $158.22B |
| CME | $6.97B | +9.0% | $4.43B | 63.5% | $109.49B |
| ICE | $14.05B | +12.1% | $4.16B | 29.6% | $96.27B |
| HOOD | $5.08B | +20.9% | $1.98B | 39.0% | $72.86B |
| NDAQ | $9.15B | +11.5% | $2.08B | 22.8% | $59.44B |
BULL FAQ
8 questionsWhat is BULL revenue?
Webull Corporation (BULL) reported $571.00M of revenue for fiscal 2025 (ended Dec 31, 2025). That is up 46.3% from the year before.Is BULL profitable?
Yes. Webull Corporation earned $24.77M in net income for fiscal 2025 (ended Dec 31, 2025), a net margin of 4.3%.How much cash and debt does BULL have?
Webull Corporation reported $653.19M in cash and cash equivalents on its most recent balance sheet in SEC filings.How fast is BULL revenue growing?
Webull Corporation's revenue changed +46.3% in fiscal 2025, to $571.00M.What is BULL free cash flow?
Webull Corporation generated $561.54M of free cash flow for fiscal 2025 (ended Dec 31, 2025), which is operating cash flow of $566.42M less capital expenditures.What is BULL earnings per share?
Diluted earnings per share were -$1.23 for fiscal 2025 (ended Dec 31, 2025), from SEC filings, restated for any stock split those filings show.When did BULL last report financial results?
The latest statements here come from Webull Corporation's 20-F filed on Apr 9, 2026, covering the period ended Dec 31, 2025.Where does this BULL financial data come from?
Quantisnow builds these statements from the structured XBRL data Webull Corporation files with the SEC. It is provided for information only and is not investment advice.