BULL - Webull Corporation Class A Ordinary Shares
Price:
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PRICE TARGET:
$12.00
DETAILS
HIGH:
$15.00
LOW:
$9.00
MEDIAN:
$12.00
CONSENSUS:
$12.00
UPSIDE:
103.39%
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Revenue | |||||
| Revenue | 571.0 | 390.2 | 389.6 | 388.3 | 0 |
| Cost of Revenue | 128.7 | 79.3 | 66.4 | 59.8 | 0 |
| Gross Profit | 442.2 | 310.9 | 323.2 | 328.6 | 0 |
| Operating Expenses | |||||
| R&D Expenses | 79.2 | 63.8 | 52.2 | 46.8 | 0 |
| SG&A Expenses | 301.4 | 254.8 | 243.4 | 209.7 | 0.0 |
| Other Expenses | 3.2 | 6.7 | 4.7 | 3.5 | 0 |
| Operating Expenses | 383.8 | 325.3 | 300.2 | 260.0 | 0.0 |
| Operating Income | |||||
| Operating Income | 58.5 | (14.4) | 23.0 | 68.6 | (0.0) |
| Interest Expense | 5.5 | 0.1 | 0 | 0 | 0 |
| Interest Income | 154.3 | 0 | 0 | 1.4 | 0 |
| Profitability | |||||
| EBITDA | 53.9 | (5.3) | 24.9 | 69.2 | (0.0) |
| EBIT | 50.7 | (11.9) | 20.2 | 65.7 | (0.0) |
| Income Before Tax | 45.2 | (12.1) | 20.2 | 65.7 | (0.0) |
| Income Tax Expense | 20.8 | 13.8 | 16.1 | 32.2 | 0 |
| Net Income | 24.8 | (22.7) | 6.1 | 50.1 | (0.0) |
| Per Share Data | |||||
| EPS (Basic) | 0.06 | -1.13 | -0.73 | -0.00 | -0.00 |
| EPS (Diluted) | 0.06 | -1.13 | -0.73 | -0.00 | -0.00 |
| Shares Outstanding | 397.0 | 459.4 | 459.4 | 459.4 | 500 |
| Metric | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Current Assets | ||||
| Cash & Cash Equivalents | 653.2 | 270.7 | 372.3 | 436.2 |
| Short-Term Investments | 172.3 | 108.3 | 45.5 | 0.5 |
| Net Receivables | 1,294.8 | 575.0 | 101.4 | 59.5 |
| Inventory | 0 | 0 | 0 | 0 |
| Other Current Assets | 1,544.9 | 952.0 | 627.2 | 502.4 |
| Total Current Assets | 3,684.6 | 1,931.8 | 1,182.7 | 1,025.6 |
| Non-Current Assets | ||||
| Property, Plant & Equipment | 100.3 | 99.9 | 46.2 | 44.4 |
| Goodwill | 30.3 | 5.2 | 5.2 | 0 |
| Intangible Assets | 55.4 | 19.4 | 21.4 | 18.0 |
| Long-Term Investments | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 1 | 0 | 0.0 | 0.0 |
| Total Non-Current Assets | 196.3 | 136.9 | 77.5 | 66.1 |
| Total Assets | 3,880.9 | 2,068.7 | 1,260.1 | 1,091.7 |
| Current Liabilities | ||||
| Account Payables | 2,686.9 | 1,388.3 | 640.2 | 82.9 |
| Short-Term Debt | 0 | 0 | 0 | 5.2 |
| Deferred Revenue | 0 | 0 | 0 | 0.3 |
| Other Current Liabilities | 45.5 | 33.0 | 22.5 | 444.8 |
| Total Current Liabilities | 2,777.1 | 1,446.2 | 680.5 | 563.1 |
| Non-Current Liabilities | ||||
| Long-Term Debt | 65 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 13.4 | 5.3 | 5.8 | 5.4 |
| Other Non-Current Liabilities | 0 | 2,861.7 | 2,326.4 | 0 |
| Total Non-Current Liabilities | 87.3 | 2,877.5 | 2,341.7 | 15.1 |
| Total Liabilities | 2,864.4 | 4,323.6 | 3,022.2 | 578.2 |
| Stockholders' Equity | ||||
| Common Stock | 0.0 | 0.0 | 0.0 | 0.0 |
| Retained Earnings | (2,178.2) | (2,241.1) | (1,755.9) | (1,444.3) |
| Accumulated Other Comprehensive Income | 1.5 | (15.2) | (6.9) | (8.5) |
| Total Stockholders' Equity | 1,016.3 | (2,256.2) | (1,762.8) | 513.5 |
| Total Liabilities & Equity | 3,880.9 | 2,068.7 | 1,260.1 | 1,091.7 |
| Debt Metrics | ||||
| Total Debt | 77.5 | 15.4 | 13.1 | 17.4 |
| Net Debt | (575.7) | (255.3) | (359.3) | (418.8) |
| Metric | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Operating Activities | ||||
| Net Income | 24.4 | (23.2) | 5.8 | 50.1 |
| Depreciation & Amortization | 3.2 | 3.5 | 2.8 | 4.8 |
| Stock-Based Compensation | 43.9 | 32.6 | 29.4 | 30.0 |
| Change in Working Capital | 495.5 | 178.9 | 433.3 | (108.0) |
| Other Non-Cash Items | (3.5) | 1.1 | 0.3 | (2.6) |
| Operating Cash Flow | 566.4 | 185.2 | 470.6 | (31.2) |
| Investing Activities | ||||
| Capital Expenditure | (4.9) | (2.4) | (4.5) | (31.6) |
| Acquisitions | 50.4 | 0 | (5.5) | (0.1) |
| Purchases of Investments | 0 | 0 | 0 | (1.0) |
| Sales/Maturities of Investments | 0 | 0 | 0 | 0.2 |
| Other Investing Activities | 0 | 0 | 0 | 0 |
| Investing Cash Flow | 45.5 | (2.4) | (10.0) | (32.4) |
| Financing Activities | ||||
| Net Debt Issuance | (35) | 0 | 0 | (10.8) |
| Stock Repurchased | (20.0) | 0 | 0 | (55.0) |
| Dividends Paid | 0 | 0 | 0 | 0 |
| Other Financing Activities | (3.9) | 0 | (7.2) | 55.0 |
| Financing Cash Flow | 352.1 | 40.3 | 12.8 | 17.9 |
| Cash Position | ||||
| Net Change in Cash | 980.3 | 215.8 | 475.8 | (51.2) |
| Cash at Beginning | 1,210.0 | 994.1 | 518.3 | 569.5 |
| Cash at End | 2,190.3 | 1,210.0 | 994.1 | 518.3 |
| Free Cash Flow | 561.5 | 182.8 | 466.1 | (62.8) |
| Key Metrics | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | 571.0 | 390.2 | 389.6 | 388.3 | 0 |
| Gross Profit | 442.2 | 310.9 | 323.2 | 328.6 | 0 |
| Operating Income | 58.5 | (14.4) | 23.0 | 68.6 | (0.0) |
| Net Income | 24.8 | (22.7) | 6.1 | 50.1 | (0.0) |
| EPS (Diluted) | 0.06 | -1.13 | -0.73 | -0.00 | -0.00 |
| Balance Sheet | |||||
| Cash & Equivalents | 653.2 | 270.7 | 372.3 | 436.2 | |
| Total Assets | 3,880.9 | 2,068.7 | 1,260.1 | 1,091.7 | |
| Total Debt | 77.5 | 15.4 | 13.1 | 17.4 | |
| Stockholders' Equity | 1,016.3 | (2,256.2) | (1,762.8) | 513.5 | |
| Cash Flow | |||||
| Operating Cash Flow | 566.4 | 185.2 | 470.6 | (31.2) | |
| Capital Expenditure | (4.9) | (2.4) | (4.5) | (31.6) | |
| Free Cash Flow | 561.5 | 182.8 | 466.1 | (62.8) | |