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NCM · Valuation Lab
BULL
Webull Corporation
Last$7.38
Market cap3.9B
EV/EBITDA—
Intrinsic value
$38.19
MoS +80.7% · Undervalued
Assuming 15.0% FCF margin and 36.3% Y1–5 growth.
Upside to price
EV (DCF)15.2B
Terminal share80%
Expected IV$40.57
Probability weights
Projected free cash flows
Stage FCF path with present values · terminal 80% of EV
PV of stage FCFs3.1B
PV of terminal value12.1B
Enterprise value15.2B
Net cash / (debt)1.9B
Equity value17.1B
Intrinsic value / share$38.19
| Year | Revenue | FCF | PV | DF |
|---|---|---|---|---|
| Y1 | 827.2M | 124.1M | 116.2M | 93.6% |
| Y2 | 1.1B | 169.1M | 148.2M | 87.6% |
| Y3 | 1.5B | 230.5M | 189.1M | 82.0% |
| Y4 | 2.1B | 314.2M | 241.3M | 76.8% |
| Y5 | 2.9B | 428.2M | 307.9M | 71.9% |
| Y6 | 3.4B | 506.2M | 340.7M | 67.3% |
| Y7 | 4B | 598.3M | 377M | 63.0% |
| Y8 | 4.7B | 707.2M | 417.2M | 59.0% |
| Y9 | 5.6B | 835.9M | 461.6M | 55.2% |
| Y10 | 6.6B | 988M | 510.8M | 51.7% |
| Terminal | — | — | 12.1B | — |
Educational DCF model only — not financial advice. Terminal value and assumptions dominate results; verify filings and run your own diligence.