Webull Corporation (BULL)

Nasdaq: BULL · Security Brokers, Dealers & Flotation Companies · St. Petersburg, FL · filing with the SEC since 2024

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Grade4.6

◀ Past 5.3● Present 3.4▶ Future 5.8

1 est.

Overview Business Financials Grade Forecast Sentiment Ownership People Filings Patents Chart

The grade of Webull Corporation

Nine metrics read from its own filings, by tense

Headline grade

4.6/10

◀ Past5.325% of the headline

● Present3.445% of the headline

▶ Future5.830% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 8 read as filed from the record and 1 is an SI estimate, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

5.3/1025% of the headline grade · 3 of 3 filed

Surviving crises

as filed

6.7/10

Has it survived what it has been through?

No warning events in its filings since 2024.

weight 45% of this tense · 67th percentile among 30 sector filers · read for itself

From the record

Webull Corporation's filings since 2024 show no warning events in the scan: no bankruptcy or receivership notice, no debt default notice, no exchange listing notice, no restatement warning, no auditor change, no material cyber incident and no late-report notice (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed

6.3/10

What has it actually done, year after year?

+13.7% a year over 4 filed years; profitable in 3 of 4.

weight 33% of this tense · 62nd percentile among 29 sector filers · read for its customers

From the record

Webull Corporation's 4 filed years say what it did: revenue went from $388 million in fiscal 2022 to $571 million in fiscal 2025, up 13.7% a year; it rose in 3 of 3 years; it never fell from a peak; net income was positive in 3 of 4 of those years (its annual reports).

What it rests on

revenue growth over the filed span13.7%bottom 48% of its family
the share of years revenue rosetop 14% of its family
the share of filed years with a profitbottom 29% of its family
the deepest fall from a revenue peak0.0%top 14% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

as filed

1.1/10

How has it treated the people who own it?

Share count grew 43.4% a year. 0% of cash flow returned. Insiders: 9 sales, 0 purchases.

weight 22% of this tense · 11th percentile among 26 sector filers · read for its shareholders

From the record

Over the 3 fiscal years to 2025-12-31, Webull Corporation's diluted share count grew about 43.4% a year, and dividends and buybacks returned about 0% of its operating cash flow over 3 years (its filed statements). Its officers and directors filed 9 sales (6 under scheduled 10b5-1 plans) and 0 purchases of their own stock on the open market in the year to 2026-11-05 (their Form 4 filings).

What it rests on

the share count over the yearsbottom 9% of its family
cash returned against operating cash flowbottom 13% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

● Present

What are they doing right now?

3.4/1045% of the headline grade · 2 of 3 filed, 1 estimated

Financial health

as filed

3.0/10

Is it financially healthy right now?

ROE 2%: 2¢ of profit per shareholder dollar. Leverage 74%: owes 74¢ per asset dollar.

weight 33% of this tense · 30th percentile among 29 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, Webull Corporation earned about 2 cents of profit for every dollar of shareholders' money. Leverage: it owed about 74 cents per dollar of assets, and net share issuance: its share count grew 186.0% over the year (the filed statements).

What it rests on

what it owes per dollar of assetstop 38% of its family
return on equitybottom 22% of its family
the share count against the year beforebottom 5% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed

2.9/10

How strong is its position in its industry?

bottom 29% of 29 in its family; net margin 4.3%.

weight 45% of this tense · 29th percentile among 29 sector filers · read for its customers

From the record

Webull Corporation's standing among 29 graded names in its industry family: revenue of $571 million in fiscal 2025 ranks in the bottom 21% by size; a net margin of 4.3% ranks in the bottom 26%; revenue growth of 13.7% a year over the last 3 filed years ranks in the bottom 41% (its annual reports).

What it rests on

revenue against the family$571Mbottom 21% of its family
net margin4.3%bottom 26% of its family
three-year revenue growth13.7%bottom 41% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

SI estimate

4.9/10

What are the people in charge doing?

SI estimate 4.9/10, confidence 20 of 100 (family median).

weight 22% of this tense · 50th percentile among 22 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate: It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-17 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge, so the desk assumes the typical reading of its industry family, the median of 22 members with one.
What the record cannot read: It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-17 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge.
How it was reasoned: family median, 22 readings behind it.
Confidence: 20 of 100
What would change it: Its next annual report on file with the inputs replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Webull Corporation's leadership is put at 4.9 of 10 with a confidence of 20 of 100, because it files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-17 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge, so the desk assumes the typical reading of its industry family, the median of 22 members with one. Its next annual report on file with the inputs replaces this estimate with the filed reading.

▶ Future

What are they set up to do next?

5.8/1030% of the headline grade · 3 of 3 filed

Room to expand

as filed

6.1/10

How much room does it have to grow?

top 39% of 29 in its family for room to expand.

weight 33% of this tense · 61st percentile among 29 sector filers · read for itself

From the record

Webull Corporation's room to grow, from the newest filed statements (fiscal 2025): cash of $653 million against no long-term debt tagged leaves 16.8% of its assets as net cash, top 33% of its family; cash from operations less capital spending is 98.3% of revenue (top 16%); research spending of 6.2% of revenue (bottom 30%) (its annual report).

What it rests on

cash less debt against assets16.8%top 33% of its family
cash from operations less capital spending against revenue98.3%top 16% of its family
research spending against revenue6.2%bottom 30% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed

4.5/10

What could actually drive growth from here?

bottom 45% of 29 in its family for growth drivers.

weight 33% of this tense · 45th percentile among 29 sector filers · read for its customers

From the record

Webull Corporation's growth drivers, from the filed years to fiscal 2025: revenue grew 13.7% a year over the last three filed years against 13.7% over all 4, speeding up (top 46% of its family); the newest year grew 46.4% (top 23%); research spending grew 5.4% a year (bottom 44%); capital spending grew -46.3% a year (bottom 6%) (its annual reports). Webull Corporation reported 13 product lines in fiscal 2025: Interest and Other Related Income at $154 million (27%), Equity Order Flow Rebates at $94 million (16%), Handling Charge Income at $87 million (15%), and 10 more; 11 of 12 grew against the year before (its annual report).

What it rests on

three-year growth against the whole span+0.0 points a yeartop 46% of its family
the newest year's revenue growth46.4%top 23% of its family
three-year growth of research spending5.4%bottom 44% of its family
three-year growth of capital spending-46.3%bottom 6% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed

6.8/10

Did its newest year beat what its own record pointed to?

top 32% of 25 in its family for expectations against reality.

weight 33% of this tense · 68th percentile among 25 sector filers · read for its shareholders

From the record

Webull Corporation's newest year against its own record: revenue of $571 million in fiscal 2025 came in 46% above the $391 million its prior three years' pace pointed to (top 10% of its family); net income of $25 million against a prior three-year average of $11 million (top 25%); a net margin of 4.3% against 2.9% before (bottom 38%) (its annual reports).

What it rests on

revenue against the prior three years' pace46.0%top 10% of its family
net income against the prior three years' average+122%top 25% of its family
net margin against its prior average+1.5 pointsbottom 38% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton BULL · research, not advice