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Webull

BULL on Nasdaq. Security brokers, dealers & flotation companies. Market value $4.0bn.

Watch this stockFree. We tell you when something changes.

This company reports once a year (it is based outside the US), so every figure comes from its annual report for the year to December 2025.

We can't read total debt from the filing, so debt is left out.

Should I look at this?

Not a fit for our list right now

Why it could be worth it

Nothing stands out yet.

What to watch out for

See Financial services stocks that passed both tests

This is not advice. Check the numbers below.

Compare with another stock

Return on equity
five annual reports to December 2025
Not reported

We don't have this figure for this company.

Price to book
annual report to December 2025
2.8×

What you pay for each dollar of net assets: $2.84.

Earnings yield
annual report to December 2025
0.9%

Profit per $100 you pay: $0.86.

Quality score: not known. Price score: 9 of 100. Our list needs 70 on quality and 60 on price.

$7.28 a share, 62% above its 1-year low

Over the past year the price has ranged from $4.50 to $13.64.

Pays no dividend

Prices from Tuesday’s close (6 October).

Five years of cash, in billions

n/a
n/a
20242025
Revenue
$390m$571m
Operating margin
n/an/a
Debt to equity
n/an/a
Shares outstanding
0.14bn0.40bn

Health checks

  • Free cash flow positiveDoesn't apply to banks and insurers
  • Accounting checksDoesn't apply to banks and insurers
  • DebtDoesn't apply to banks and insurers
  • Revenue growth, five yearsUnknown
  • Buying back its own sharesNo, 186% more shares since 2024

Dates

Next results (estimated)
n/a
Last annual report (10-K)
9 April 2026
Next quarterly (estimated, 10-Q)
n/a

Who owns it

None of the long-term investors we follow own it. 206 funds in all.

Jun '25
Dec '25
Jun '26
Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

8 investors own more than 5%.

  • Wang Anquan
    Passive investor
    18.1%−0.1 pts
    Since 30 September 2026
  • Tianjin Nuofeng Enterprise Management Consulting Partnership (Limited Partnership)
    Passive investor
    at least 9.4%
    (filed with 3 related holders)
    Since 30 June 2025
  • Jun Yuan
    Passive investor
    7.4%
    Since 30 June 2025
  • Matthew Hulsizer
    Passive investor
    at least 6.7%0.0 pts
    (filed with 6 related holders)
    Since 31 December 2025
  • PEAK6 LLC
    Passive investor
    at least 6.5%+1.0 pts
    (filed with 1 related holder)
    Since 30 June 2025
  • SIG Global China Fund I, LLLP
    Passive investor
    at least 6.4%
    (filed with 2 related holders)
    Since 30 June 2025
  • Shanghai Bojiang Investment Management Co., Ltd.
    Passive investor
    at least 5.2%−2.1 pts
    (filed with 5 related holders)
    Since 31 December 2025
  • HS Investments IV Ltd
    Passive investor
    at least 3.6%−3.5 pts
    (filed with 2 related holders)
    Since 17 April 2025
  • Hillhouse Investment Management, Ltd.
    Passive investor
    Sold down below 5%
    Since 31 December 2025
  • Sold down below 5%
    Since 30 June 2025

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

No insider bought shares on the open market in the last 12 months. 3 sold $3m, $2m of it under preset trading plans.

  • Denier Anthony Michael
    President, Director
    Sold
    under a preset trading plan
    Date
    5 October 2026
    Shares
    53,846
    Price
    $7.33
    Value
    $394,939
  • Denier Anthony Michael
    President, Director
    Sold
    under a preset trading plan
    Date
    21 September 2026
    Shares
    53,846
    Price
    $8.32
    Value
    $447,735
  • Wang Haichen
    Chief Financial Officer, Director
    Sold
    Date
    14 September 2026
    Shares
    55,000
    Price
    $8.98
    Value
    $493,746
  • Denier Anthony Michael
    President, Director
    Sold
    under a preset trading plan
    Date
    8 September 2026
    Shares
    53,846
    Price
    $9.58
    Value
    $515,705
  • Denier Anthony Michael
    President, Director
    Sold
    under a preset trading plan
    Date
    25 August 2026
    Shares
    53,848
    Price
    $8.83
    Value
    $475,607
  • James Benjamin Worthy
    General Counsel, Director
    Sold
    Date
    21 August 2026
    Shares
    50,273
    Price
    $9.02
    Value
    $453,276
  • Denier Anthony Michael
    President, Director
    Sold
    Date
    26 May 2026
    Shares
    75,000
    Price
    $6.22
    Value
    $466,500

From Form 4 filings: insiders must report trades in their own company's shares within two days.

Warning signs in its filings

Problems the company itself reported to the SEC, in its own words.

Webull doesn’t file a US annual report (10-K), so we haven’t checked it.

A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.

What could go wrong

Cheap for a reason is the question the numbers cannot answer.

Whether the price already reflects the risks is what the deep dive is for.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
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What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.