Beneficient (BENF) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 28, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q1 FY2027, filed Aug 14, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the BENF SEC filings page.
Beneficient (BENF) reported $40K in revenue for fiscal year 2026, down 9.1% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Reported revenue is negligible beside operating losses, while shrinking assets and negative equity make financing structure more important than growth metrics.
FY2025 paired accounting profit of$51.2M with operating cash flow of-$37.7M , so the reported profit was not accompanied by cash generation. In FY2026, a net loss of$87.4M and operating cash flow of-$38.7M moved in the same direction, making the earlier profit look less representative of underlying cash economics.
The balance sheet contracted unevenly: assets fell
Low capital intensity is not solving the cash problem: capital expenditures were only
Financial Health Signals
Beneficient does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Beneficient passes 2 of 5 computable financial strength tests (4 of the nine could not be computed from available data). 1 of 4 profitability signals pass, the one computable operating efficiency signal (asset turnover improving) passes.
Beneficient reported an operating loss of $166.5M against $18.8M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Beneficient generated $12.2M in revenue in Q1 2027. This represents an increase of 121550.0% from the same quarter a year earlier.
Beneficient's EBITDA was -$252K in Q1 2027, measuring earnings before interest, taxes, depreciation, and amortization. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative.
Beneficient reported a net loss of $6.8M in Q1 2027. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative.
Not reported for Q1 2027.
Cash & Balance Sheet
Beneficient recorded an outflow of $4.1M in free cash flow in Q1 2027, representing a cash shortfall after capex. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Beneficient held $5.6M in cash as of Q1 2027; no long-term debt figure is on record for that period.
Not reported for Q1 2027.
Margins & Returns
Beneficient's operating margin was -3.1% in Q1 2027, reflecting core business profitability. No change is given against Q1 2026: its reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Beneficient's net profit margin was -55.8% in Q1 2027, showing the share of revenue converted to profit. No change is given against Q1 2026: its reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not reported for Q1 2027.
Not reported for Q1 2027.
Capital Allocation
Beneficient reported no capital expenditure in Q1 2027. This represents a decrease of 100.0% from the same quarter a year earlier. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Not reported for Q1 2027.
Not reported for Q1 2027.
BENF Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2710-Q | Q4'2610-Q | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $12.2M+121550.0% | N/A | $18.7M+422393.8% | $10K+16.8% | $10K-0.5% | N/A | $4K | $9K |
| Operating Income | -$377Kn/m | N/A | $3.9Mn/m | -$17.9Mn/m | -$92.6M-209058.5% | N/A | -$10Kn/m | -$14Kn/m |
| EBITDA | -$252Kn/m | N/A | $4.1Mn/m | -$17.7Mn/m | -$92.4M-206584.6% | N/A | -$9Kn/m | -$13Kn/m |
| Interest Expense | $4.6M+33.8% | N/A | $5.8M+179221.0% | $4.9M+113279.6% | $3.4M+79540.9% | N/A | $3K-99.9% | $4K-99.9% |
| Income Tax | $0n/m | N/A | $0-100.0% | $43Kn/m | $0-100.0% | N/A | $713-99.0% | $0n/m |
| Net Income | -$6.8Mn/m | N/A | $19.9Mn/m | $1.1M+6037.2% | -$65.1M-125190.8% | N/A | -$9Kn/m | $17Kn/m |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).
BENF Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2710-Q | Q4'2610-Q | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $250.9M-25.0% | $238.8M-32.7% | $337.9M-15.5% | $316.2M-14.3% | $334.5M-7.4% | $354.9M-3.7% | $400.0M-20.1% | $368.8M-74.7% |
| Cash & Equivalents | $5.6M-26.7% | $2.5M+88.9% | $7.9M+189512.0% | $4.9M+109270.8% | $7.6M+172939.3% | $1.3M-83.0% | $4K-100.0% | $4K-99.8% |
| Goodwill | $9.9M0.0% | $9.9M0.0% | $9.9M+99900.0% | $9.9M+99900.0% | $9.9M+96981.9% | $9.9M-27.1% | $10K-100.0% | $10K-100.0% |
| Total Liabilities | $461.3M-16.8% | $452.8M-13.2% | $517.6M-8.7% | $539.1M+0.9% | $554.3M+1.9% | $521.9M-13.4% | $566.6M-15.8% | $534.1M-50.9% |
| Total Equity | -$210.4Mn/m | -$214.0Mn/m | -$179.7Mn/m | -$222.9Mn/m | -$219.8Mn/m | -$167.0Mn/m | -$167Kn/m | -$165K-100.0% |
| Retained Earnings | -$2.1Bn/m | -$2.1Bn/m | -$2.1Bn/m | -$2.1Bn/m | -$2.1Bn/m | -$2.0Bn/m | -$2.0Mn/m | -$2.0Mn/m |
Not reported in any period shown, so not listed: Current Assets, Short-Term Investments, Inventory, Accounts Receivable, Long-Term Investments, Current Liabilities, Non-Current Liabilities, Long-Term Debt.
BENF Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2710-Q | Q4'2610-Q | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$4.1Mn/m | -$4.0Mn/m | -$9.4Mn/m | -$14.5Mn/m | -$10.8Mn/m | -$8.4M | -$10Kn/m | -$9Kn/m |
| Depreciation & Amortization | $125K-48.3% | $220K-50.3% | $141K+31443.6% | $143K+36472.9% | $242K+58354.1% | $443K | $447-100.0% | $391-100.0% |
| Stock-Based Compensation | $185K-59.9% | N/A | $367K-54.4% | $462K-86.3% | $461K-53.6% | N/A | $804K-60.3% | $3.4M-60.4% |
| Capital Expenditures | $0-100.0% | $0-100.0% | $0-100.0% | $0-100.0% | $96K+14357.8% | $124K | $42-100.0% | $269-99.9% |
| Free Cash Flow | -$4.1Mn/m | -$4.0Mn/m | -$9.4Mn/m | -$14.5Mn/m | -$10.9Mn/m | -$8.6M | -$10Kn/m | -$9Kn/m |
| Investing Cash Flow | $6.9M-73.9% | $2.0M-81.7% | $16.4M+263765.7% | $16.4M+342942.7% | $26.5M+413776.7% | $10.7M | $6K-99.9% | $5K-100.0% |
| Financing Cash Flow | $233Kn/m | -$3.3Mn/m | -$4.1M-128559.1% | -$4.6M-116133.6% | -$9.4M-943894.1% | -$5.1M | $3K-100.0% | $4Kn/m |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
BENF Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2710-Q | Q4'2610-Q | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | -3.1% | N/A | 21.1% | -178640.0% | -926480.0% | N/A | -215.3% | -160.2% |
| Net Margin | -55.8% | N/A | 106.7% | 10640.0% | -650760.0% | N/A | -195.5% | 202.5% |
| Return on Assets | -2.7%+16.8pp | N/A | 5.9%+5.9pp | 0.3%+0.3pp | -19.4%-19.5pp | N/A | 0.0%+107.5pp | 0.0%+25.2pp |
| Asset Turnover | 0.050.0x | N/A | 0.060.0x | 0.000.0x | 0.000.0x | N/A | 0.010.0x | 0.02+0.1x |
| FCF Margin | -33.7% | N/A | -50.2% | -145280.0% | -109320.0% | N/A | -227.2% | -103.7% |
Not reported in any period shown, so not listed: Gross Margin, Return on Equity, Current Ratio, Debt-to-Equity, Liabilities-to-Equity.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
Note: Shareholder equity is negative (-$214.0M), which causes the debt-to-equity, liabilities-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Beneficient BENF | FY2026 | $40K | -$87.4M | N/A | $12.8M | — |
| CaliberCos Inc. CWD | FY2025 | $20.1M | -$21.8M | N/A | $4.4M | 36/100 |
| Equus Total Return, Inc. EQS | FY2025 | N/A | -$14.2M | N/A | $9.1M | — |
| Binah Capital Group, Inc. BCG | FY2025 | $187.1M | $2.3M | 1.2% | $17.9M | 42/100 |
Where Beneficient Ranks
Frequently Asked Questions
What is Beneficient's annual revenue?
Beneficient (BENF) reported $40K in total revenue for fiscal year 2026. This represents a -9.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Beneficient's revenue growing?
Beneficient (BENF) revenue declined by 9.1% year-over-year, from $44K to $40K in fiscal year 2026.
Is Beneficient profitable?
No, Beneficient (BENF) reported a net loss of $87.4M in fiscal year 2026.
What is Beneficient's EBITDA?
Beneficient (BENF) had EBITDA of -$165.8M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization.
What is Beneficient's free cash flow?
Beneficient (BENF) recorded an outflow of $38.8M in free cash flow during fiscal year 2026. The change from the previous fiscal year is not meaningful, because that year’s figure was zero or negative. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Beneficient's operating cash flow?
Beneficient (BENF) recorded an outflow of $38.7M in operating cash flow during fiscal year 2026, representing cash used by core business activities.
What are Beneficient's total assets?
Beneficient (BENF) had $238.8M in total assets as of fiscal year 2026, including both current and long-term assets.
What are Beneficient's capital expenditures?
Beneficient (BENF) invested $96K in capital expenditures during fiscal year 2026, funding long-term assets and infrastructure.
What is Beneficient's return on assets (ROA)?
Beneficient (BENF) had a return on assets of -36.6% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.
What is Beneficient's P/E ratio?
Beneficient (BENF) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2026). The market capitalization is $12.8M as of Oct 28, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Beneficient's price-to-sales ratio?
Beneficient (BENF) trades at 319x sales, its market capitalization divided by $40K revenue, FY2026. The market capitalization is $12.8M as of Oct 28, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
Why is Beneficient's debt-to-equity ratio negative or not reported?
Beneficient (BENF) has negative shareholder equity of -$214.0M as of fiscal year 2026, so no debt-to-equity or liabilities-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Beneficient's Piotroski F-Score?
Beneficient (BENF) has a Piotroski F-Score of 2 out of 5 computable signals; 4 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Can Beneficient cover its interest payments?
Beneficient (BENF) reported an operating loss of $166.5M against $18.8M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.