Webull Corp balance sheet

At the end of fiscal 2025, Webull Corp had total assets of $3.88bn, total liabilities of $2.86bn and shareholders' equity of $1.02bn. It held $653m in cash against $65.0m of debt: net cash of $588m.

Balance sheet

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Webull Corp: balance sheet, annual
Fiscal year	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Cash and equivalents	436	372	271	653
Receivables	—	1	4	6
Total current assets	—	1,183	1,932	3,685
Goodwill	—	5	5	30
Total assets	—	1,260	2,069	3,881
Accounts payable	—	15	10	19
Deferred revenue (current)	—	625	1,379	2,668
Total current liabilities	—	681	1,446	2,777
Long-term debt	—	—	—	65
Total debt	0	0	0	65
Total liabilities	—	696	1,462	2,864
Shareholders' equity	−1,453	−1,763	−2,256	1,016
Non-controlling interests and other (assets − liabilities − equity)	—	2,327	2,863	—
Net debt (negative = net cash)	−436	−372	−271	−588

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

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Figures from Webull Corp's SEC filings (10-K and 10-Q). How we read and check them: methodology and data sources. Not investment advice. Back to Webull Corp.