Webull Corp key statistics and ratios

In fiscal 2025, Webull Corp had a net margin of 4.3%, debt equal to 6.4% of equity and a current ratio of 1.33. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

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

Webull Corp: financial ratios, annual
Fiscal year	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Net margin	12.9%	1.6%	−5.8%	4.3%
Free-cash-flow margin	−16.2%	119.6%	46.8%	98.3%
Return on assets	—	0.5%	−1.4%	0.8%
Asset turnover	—	0.31	0.23	0.19
Current ratio	—	1.74	1.34	1.33
Debt to equity	—	—	—	6.4%
Effective tax rate	49.0%	80.0%	—	46.1%
R&D as % of revenue	—	8.2%	8.4%	6.2%
Capital spending as % of revenue	8.1%	1.2%	0.6%	0.9%
Free cash flow ÷ net income	−125.3%	>999%	—	>999%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

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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.