Webull Corporation operates as a digital investment platform, offering trading services, wealth management product distribution, market data and information, user community, and investor education.

Webull Corporation Warrants

Financial Services

The company does not pay dividends at all, or it pays them sporadically. There have only been a few years with dividend payments in the past ten years. 

Over the last six months, the stock performance has varied, with an increase following a drop. The stock's price trend wasn't definitive when matched against its global counterparts from the same sector and industry (as depicted above). Within the past six months, its performance has trailed this peer group's by 3ppts and its growth accelerated by 46ppts in the past month. This is equally valid for peers from the same country and industry. Given the stock's valuation versus its peers, its total price movement is neither favourable nor unfavourable.

The company has reported weak EBITDA margins compared to its global peers in recent years. EBITDA margin amounted to -1.1% in the last 12 months, a decline from 7.9% in FY23. 

Historically, BULLW has reported very poor net margins compared to its global peers. Specifically, in the last 12 months, this metric equalled -5.8%, down from 1.6% in FY23. 

Webull Corporation Warrants reported a return on equity (RoE) of 1.1% in the last 12 months, up from -0.3% in FY23. 

Another important profitability metric, return on assets (RoA), amounted to -1.4% in the last 12 months, a decrease from 0.5% in FY23. 

In the last 12 months, the return on capital employed (RoCE) declined to -3.8%, below the peers. 

The ratio of return on invested capital (RoIC) to the weighted average cost of capital (WACC) has been -0.4 in the past several years. This ratio implies a fragile shareholder value creation. 

The institutional, legal, and compliance risks associated with the company's country are minimal. In combination with stringent business standards, shareholder rights are very highly protected.

BULLW has poor trading liquidity. The average private investor can sell his common position in the stock in a single trading day. Liquidity is relatively stable and is unfavourable on the days with the lowest activity. The trading volume mostly stays the same even under highly turbulent market conditions. The stock has a small market capitalisation, which usually makes its trading liquidity erratic and unpredictable. 

No other major risks have been identified.

The risk of default is high. Among the negative credit factors, we point to slow historical revenue growth, bleak profitability, negligible return on capital, poor working capital management, weak debt servicing capacity, and inadequate interest coverage. We note low margin volatility, solid cash flow generation, and an favourable capital structure, among the positive credit factors. 

In highly turbulent market conditions, BULLW is exceptionally volatile. In other words, the stock will be among the worst-performers in times of extreme market volatility or shocking company news. Standalone, the worst-day losses (less than 1% of the time) will likely be critical. 

In normal market circumstances, BULLW is exceptionally volatile. Put differently, without outstanding market volatility or shocking company news, the stock's price will change quite unpredictably. The stock's losses on its worst days (less than 1-5% of the time) will range from critical to immense. 

Considering past and projected metrics, the stock is distinctly 'cheaper' than its peers. In particular, the stock is undervalued on P/FCF. 

Webull Corporation Warrants

$ 4.9

3

Webull Corporation Warrants

$ 4.9

3

Risk factor

Profitability factor

Risk / Profitability

Risk factor

Profitability factor

$ 4.9

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