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Side-by-side financial comparison of Webull Corp (BULL) and Donnelley Financial Solutions, Inc. (DFIN). Click either name above to swap in a different company.
Donnelley Financial Solutions, Inc. is the larger business by last-quarter revenue ($172.5M vs $131.5M, roughly 1.3× Webull Corp). Donnelley Financial Solutions, Inc. runs the higher net margin — 3.6% vs -21.5%, a 25.1% gap on every dollar of revenue. On growth, Webull Corp posted the faster year-over-year revenue change (46.3% vs 10.4%). Webull Corp produced more free cash flow last quarter ($271.7M vs $47.9M).
Webull Corporation, often stylized as simply Webull, is a US-based financial services holding company headquartered in St. Petersburg, Florida. It provides an electronic trading platform of the same name.
Donnelley Financial Solutions (DFIN) is a financial compliance company based in Chicago, Illinois, United States. The company provides software as a service (SaaS) products, software-enabled services (SeS), print, and compliance services related to US Securities and Exchange Commission regulations to companies in capital and investment markets.
BULL vs DFIN — Head-to-Head
Income Statement — Q2 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $131.5M | $172.5M |
| Net Profit | $-28.3M | $6.2M |
| Gross Margin | — | — |
| Operating Margin | -16.3% | 8.3% |
| Net Margin | -21.5% | 3.6% |
| Revenue YoY | 46.3% | 10.4% |
| Net Profit YoY | -144.3% | -1.6% |
| EPS (diluted) | — | $0.31 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | — | $172.5M | ||
| Q3 25 | — | $175.3M | ||
| Q2 25 | $131.5M | $218.1M | ||
| Q1 25 | — | $201.1M | ||
| Q4 24 | — | $156.3M | ||
| Q3 24 | — | $179.5M | ||
| Q2 24 | $89.9M | $242.7M | ||
| Q1 24 | — | $203.4M |
| Q4 25 | — | $6.2M | ||
| Q3 25 | — | $-40.9M | ||
| Q2 25 | $-28.3M | $36.1M | ||
| Q1 25 | — | $31.0M | ||
| Q4 24 | — | $6.3M | ||
| Q3 24 | — | $8.7M | ||
| Q2 24 | $-11.6M | $44.1M | ||
| Q1 24 | — | $33.3M |
| Q4 25 | — | 8.3% | ||
| Q3 25 | — | 16.1% | ||
| Q2 25 | -16.3% | 24.2% | ||
| Q1 25 | — | 22.8% | ||
| Q4 24 | — | 6.0% | ||
| Q3 24 | — | 10.1% | ||
| Q2 24 | -11.4% | 26.6% | ||
| Q1 24 | — | 21.9% |
| Q4 25 | — | 3.6% | ||
| Q3 25 | — | -23.3% | ||
| Q2 25 | -21.5% | 16.6% | ||
| Q1 25 | — | 15.4% | ||
| Q4 24 | — | 4.0% | ||
| Q3 24 | — | 4.8% | ||
| Q2 24 | -12.9% | 18.2% | ||
| Q1 24 | — | 16.4% |
| Q4 25 | — | $0.31 | ||
| Q3 25 | — | $-1.49 | ||
| Q2 25 | — | $1.28 | ||
| Q1 25 | — | $1.05 | ||
| Q4 24 | — | $0.21 | ||
| Q3 24 | — | $0.29 | ||
| Q2 24 | — | $1.47 | ||
| Q1 24 | — | $1.09 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $476.7M | $24.5M |
| Total DebtLower is stronger | — | $171.3M |
| Stockholders' EquityBook value | $751.6M | $379.2M |
| Total Assets | $2.6B | $800.4M |
| Debt / EquityLower = less leverage | — | 0.45× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $24.5M | ||
| Q3 25 | — | $22.7M | ||
| Q2 25 | $476.7M | $33.8M | ||
| Q1 25 | — | $16.2M | ||
| Q4 24 | — | $57.3M | ||
| Q3 24 | — | $33.6M | ||
| Q2 24 | — | $35.0M | ||
| Q1 24 | — | $43.7M |
| Q4 25 | — | $171.3M | ||
| Q3 25 | — | $154.7M | ||
| Q2 25 | — | $190.1M | ||
| Q1 25 | — | $189.5M | ||
| Q4 24 | — | $124.7M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | $379.2M | ||
| Q3 25 | — | $423.1M | ||
| Q2 25 | $751.6M | $432.1M | ||
| Q1 25 | — | $419.9M | ||
| Q4 24 | — | $436.1M | ||
| Q3 24 | — | $444.5M | ||
| Q2 24 | $-2.9B | $441.5M | ||
| Q1 24 | — | $408.9M |
| Q4 25 | — | $800.4M | ||
| Q3 25 | — | $816.3M | ||
| Q2 25 | $2.6B | $874.7M | ||
| Q1 25 | — | $852.8M | ||
| Q4 24 | — | $841.6M | ||
| Q3 24 | — | $843.6M | ||
| Q2 24 | — | $882.9M | ||
| Q1 24 | — | $867.8M |
| Q4 25 | — | 0.45× | ||
| Q3 25 | — | 0.37× | ||
| Q2 25 | — | 0.44× | ||
| Q1 25 | — | 0.45× | ||
| Q4 24 | — | 0.29× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $272.1M | $59.8M |
| Free Cash FlowOCF − Capex | $271.7M | $47.9M |
| FCF MarginFCF / Revenue | 206.6% | 27.8% |
| Capex IntensityCapex / Revenue | 0.3% | 6.9% |
| Cash ConversionOCF / Net Profit | — | 9.65× |
| TTM Free Cash FlowTrailing 4 quarters | — | $107.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $59.8M | ||
| Q3 25 | — | $74.4M | ||
| Q2 25 | $272.1M | $68.4M | ||
| Q1 25 | — | $-37.7M | ||
| Q4 24 | — | $56.4M | ||
| Q3 24 | — | $86.4M | ||
| Q2 24 | — | $56.2M | ||
| Q1 24 | — | $-27.9M |
| Q4 25 | — | $47.9M | ||
| Q3 25 | — | $59.2M | ||
| Q2 25 | $271.7M | $51.7M | ||
| Q1 25 | — | $-51.0M | ||
| Q4 24 | — | $41.3M | ||
| Q3 24 | — | $67.3M | ||
| Q2 24 | — | $36.8M | ||
| Q1 24 | — | $-40.2M |
| Q4 25 | — | 27.8% | ||
| Q3 25 | — | 33.8% | ||
| Q2 25 | 206.6% | 23.7% | ||
| Q1 25 | — | -25.4% | ||
| Q4 24 | — | 26.4% | ||
| Q3 24 | — | 37.5% | ||
| Q2 24 | — | 15.2% | ||
| Q1 24 | — | -19.8% |
| Q4 25 | — | 6.9% | ||
| Q3 25 | — | 8.7% | ||
| Q2 25 | 0.3% | 7.7% | ||
| Q1 25 | — | 6.6% | ||
| Q4 24 | — | 9.7% | ||
| Q3 24 | — | 10.6% | ||
| Q2 24 | — | 8.0% | ||
| Q1 24 | — | 6.0% |
| Q4 25 | — | 9.65× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 1.89× | ||
| Q1 25 | — | -1.22× | ||
| Q4 24 | — | 8.95× | ||
| Q3 24 | — | 9.93× | ||
| Q2 24 | — | 1.27× | ||
| Q1 24 | — | -0.84× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BULL
Segment breakdown not available.
DFIN
| Technology Service | $68.0M | 39% |
| Capital Markets Compliance And Communications Management | $61.6M | 36% |
| Investment Companies Software Solutions | $30.9M | 18% |
| Print And Distribution Service | $13.6M | 8% |
