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Side-by-side financial comparison of Webull Corp (BULL) and Telesat Corp (TSAT). Click either name above to swap in a different company.
Webull Corp is the larger business by last-quarter revenue ($131.5M vs $73.8M, roughly 1.8× Telesat Corp). Webull Corp runs the higher net margin — -21.5% vs -119.8%, a 98.3% gap on every dollar of revenue.
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.
Telesat, formerly Telesat Canada, is a Canadian satellite communications company founded on May 2, 1969. The company is headquartered in Ottawa.
BULL vs TSAT — Head-to-Head
Income Statement — Q2 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $131.5M | $73.8M |
| Net Profit | $-28.3M | $-88.4M |
| Gross Margin | — | 95.3% |
| Operating Margin | -16.3% | 5.9% |
| Net Margin | -21.5% | -119.8% |
| Revenue YoY | 46.3% | — |
| Net Profit YoY | -144.3% | — |
| EPS (diluted) | — | — |
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.
| Q3 25 | — | $73.8M | ||
| Q2 25 | $131.5M | $77.5M | ||
| Q1 25 | — | $152.2M | ||
| Q2 24 | $89.9M | $363.2M | ||
| Q3 23 | — | $552.5M | ||
| Q2 23 | — | $372.4M | ||
| Q1 23 | — | $185.8M | ||
| Q3 22 | — | $570.7M |
| Q3 25 | — | $-88.4M | ||
| Q2 25 | $-28.3M | $55.1M | ||
| Q1 25 | — | $-52.3M | ||
| Q2 24 | $-11.6M | $547.4M | ||
| Q3 23 | — | $-172.5M | ||
| Q2 23 | — | $56.3M | ||
| Q1 23 | — | $60.6M | ||
| Q3 22 | — | $42.1M |
| Q3 25 | — | 95.3% | ||
| Q2 25 | — | 95.9% | ||
| Q1 25 | — | — | ||
| Q2 24 | — | — | ||
| Q3 23 | — | — | ||
| Q2 23 | — | — | ||
| Q1 23 | — | — | ||
| Q3 22 | — | — |
| Q3 25 | — | 5.9% | ||
| Q2 25 | -16.3% | 16.8% | ||
| Q1 25 | — | — | ||
| Q2 24 | -11.4% | — | ||
| Q3 23 | — | — | ||
| Q2 23 | — | — | ||
| Q1 23 | — | — | ||
| Q3 22 | — | — |
| Q3 25 | — | -119.8% | ||
| Q2 25 | -21.5% | 71.2% | ||
| Q1 25 | — | -34.4% | ||
| Q2 24 | -12.9% | 150.7% | ||
| Q3 23 | — | -31.2% | ||
| Q2 23 | — | 15.1% | ||
| Q1 23 | — | 32.6% | ||
| Q3 22 | — | 7.4% |
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 | $352.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $751.6M | $1.6B |
| Total Assets | $2.6B | $5.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | — | $352.3M | ||
| Q2 25 | $476.7M | $399.6M | ||
| Q1 25 | — | $552.1M | ||
| Q2 24 | — | $1.7B | ||
| Q3 23 | — | $1.7B | ||
| Q2 23 | — | $1.7B | ||
| Q1 23 | — | $1.7B | ||
| Q3 22 | — | $1.4B |
| Q3 25 | — | $1.6B | ||
| Q2 25 | $751.6M | $1.7B | ||
| Q1 25 | — | $2.5B | ||
| Q2 24 | $-2.9B | $2.4B | ||
| Q3 23 | — | $1.8B | ||
| Q2 23 | — | $1.8B | ||
| Q1 23 | — | $1.8B | ||
| Q3 22 | — | $1.7B |
| Q3 25 | — | $5.1B | ||
| Q2 25 | $2.6B | $4.9B | ||
| Q1 25 | — | $6.9B | ||
| Q2 24 | — | $6.3B | ||
| Q3 23 | — | $6.5B | ||
| Q2 23 | — | $6.5B | ||
| Q1 23 | — | $6.5B | ||
| Q3 22 | — | $6.4B |
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 | — |
| Free Cash FlowOCF − Capex | $271.7M | — |
| FCF MarginFCF / Revenue | 206.6% | — |
| Capex IntensityCapex / Revenue | 0.3% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | — | — | ||
| Q2 25 | $272.1M | — | ||
| Q1 25 | — | — | ||
| Q2 24 | — | — | ||
| Q3 23 | — | — | ||
| Q2 23 | — | — | ||
| Q1 23 | — | — | ||
| Q3 22 | — | — |
| Q3 25 | — | — | ||
| Q2 25 | $271.7M | — | ||
| Q1 25 | — | — | ||
| Q2 24 | — | — | ||
| Q3 23 | — | — | ||
| Q2 23 | — | — | ||
| Q1 23 | — | — | ||
| Q3 22 | — | — |
| Q3 25 | — | — | ||
| Q2 25 | 206.6% | — | ||
| Q1 25 | — | — | ||
| Q2 24 | — | — | ||
| Q3 23 | — | — | ||
| Q2 23 | — | — | ||
| Q1 23 | — | — | ||
| Q3 22 | — | — |
| Q3 25 | — | — | ||
| Q2 25 | 0.3% | — | ||
| Q1 25 | — | — | ||
| Q2 24 | — | — | ||
| Q3 23 | — | — | ||
| Q2 23 | — | — | ||
| Q1 23 | — | — | ||
| Q3 22 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
