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Beneficient (BENFW) Financials

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$0.01 +0.00 (+5.00%)
Closing price 07/24/2026 03:51 PM Eastern
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$0.01 0.00 (0.00%)
As of 07/24/2026 07:00 PM Eastern
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Annual Income Statements for Beneficient

Annual Income Statements for Beneficient

This table shows Beneficient's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2023 2024 2025 2026
Period end date 3/31/2023 3/31/2024 3/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 -131 -2,096 51 -87
Consolidated Net Income / (Loss)		 -252 -2,658 -0.80 -165
Net Income / (Loss) Continuing Operations		 -252 -2,658 -8.75 -204
Total Pre-Tax Income 		-253 -2,657 -0.72 -165
Total Operating Income		 -253 -2,649 -24 -167
Total Gross Profit		 -150 -164 -32 -101
Total Revenue		 -105 -99 -14 -88
Operating Revenue		 -105 -99 -14 -88
Total Cost of Revenue		 46 65 18 13
Operating Cost of Revenue		 46 65 17 12
Other Cost of Revenue		 - - 1.00 1.05
Total Operating Expenses		 103 2,485 -17 96
Selling, General & Admin Expense		 67 52 35 30
Impairment Charge		 0.00 2,354 3.69 3.10
Other Special Charges / (Income)		 0.00 55 -55 63
Total Other Income / (Expense), net		 0.00 -8.85 6.36 -6.99
Interest Expense		 0.00 8.85 15 19
Interest & Investment Income		 - - -2.20 9.81
Other Income / (Expense), net		 - - 23 2.00
Income Tax Expense		 -1.07 0.79 0.08 0.21
Net Income / (Loss) Attributable to Noncontrolling Interest		 -121 -563 -52 -77
Basic Earnings per Share		 ($105.14) ($1,257.54) $177.62 ($28.04)
Weighted Average Basic Shares Outstanding		 2.49M - - 14.52M
Diluted Earnings per Share		 ($105.14) ($1,257.54) $1.04 ($28.04)
Weighted Average Diluted Shares Outstanding		 2.49M - - 14.52M
Weighted Average Basic & Diluted Shares Outstanding		 - - - 14.52M

Quarterly Income Statements for Beneficient

This table shows Beneficient's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Q4 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 -372 -542 -66 58 13 -5.41 -14 -78 -3.63 24 -30
Consolidated Net Income / (Loss)		 -382 -925 -196 44 9.75 -10 -45 -93 -18 5.94 -60
Net Income / (Loss) Continuing Operations		 -382 -925 -196 54 9.75 -7.00 -66 -105 -18 9.74 -90
Total Pre-Tax Income 		-382 -925 -195 44 9.75 -9.51 -45 -93 -18 5.94 -60
Total Operating Income		 -382 -916 -195 60 -14 -9.51 -61 -102 -18 3.94 -51
Total Gross Profit		 -58 -18 -50 17 0.95 1.48 -51 -29 -5.19 16 -83
Total Revenue		 -43 -10 -43 21 8.56 4.41 -48 -25 -2.76 19 -79
Operating Revenue		 -43 -10 -43 21 8.56 4.41 -48 -25 -2.77 19 -79
Total Cost of Revenue		 15 7.34 6.57 4.37 7.61 2.93 2.94 3.33 2.43 3.01 4.12
Operating Cost of Revenue		 15 7.34 6.57 3.85 7.14 2.93 2.94 3.33 2.43 3.01 3.08
Total Operating Expenses		 324 898 145 -43 15 7.76 4.01 73 13 5.91 3.84
Selling, General & Admin Expense		 12 10 12 8.63 10 7.76 8.33 10 7.77 5.91 5.63
Impairment Charge		 307 883 68 3.39 0.30 0.00 - 0.00 0.00 0.00 3.10
Total Other Income / (Expense), net		 0.00 -8.85 - -5.46 23 0.00 -12 -3.45 0.01 0.00 -3.55
Income Tax Expense		 0.00 0.08 0.71 0.03 0.00 0.71 -0.66 0.00 0.04 0.00 0.17
Net Income / (Loss) Attributable to Noncontrolling Interest		 -10 -383 -129 -3.36 -3.17 -1.59 -44 -28 -14 -14 -21
Basic Earnings per Share		 ($229.45) ($315.31) - $24.22 $5.67 ($18.76) - ($14.38) ($0.74) $2.38 ($2.04)
Weighted Average Basic Shares Outstanding		 276.35M 276.35M 0.00 4.25M 5.08M 8.66M 0.00 - 111.00M 14.21M 14.52M
Diluted Earnings per Share		 ($229.45) ($315.31) - $0.34 $0.06 ($18.76) - ($14.38) ($0.74) $0.08 ($2.04)
Weighted Average Diluted Shares Outstanding		 276.35M 276.35M 0.00 4.25M 5.08M 8.66M 0.00 - 111.00M 14.21M 14.52M
Basic & Diluted Earnings per Share		 - - - - - - - - - - ($2.04)
Weighted Average Basic & Diluted Shares Outstanding		 276.35M 276.35M 0.00 4.25M 5.08M 8.66M 0.00 - 111.00M 14.21M 14.52M

Annual Cash Flow Statements for Beneficient

This table details how cash moves in and out of Beneficient's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2023 2024 2025 2026
Period end date 3/31/2023 3/31/2024 3/31/2025 3/31/2026
Net Change in Cash & Equivalents		 -67 -1.57 -6.63 1.20
Net Cash From Operating Activities		 -95 -58 -38 -39
Net Cash From Continuing Operating Activities		 -95 -58 -38 -39
Net Income / (Loss) Continuing Operations		 -252 -2,658 -0.80 -165
Consolidated Net Income / (Loss)		 -252 -2,658 -0.80 -165
Depreciation Expense		 3.61 3.78 1.70 0.75
Amortization Expense		 -4.48 -1.25 0.30 0.77
Non-Cash Adjustments To Reconcile Net Income		 161 2,580 -48 123
Changes in Operating Assets and Liabilities, net		 -3.17 17 8.74 1.36
Net Cash From Investing Activities		 63 44 28 61
Net Cash From Continuing Investing Activities		 63 44 28 61
Purchase of Property, Plant & Equipment		 -2.08 -1.76 -1.10 -0.10
Purchase of Investments		 -2.59 -1.42 -1.22 -2.24
Sale and/or Maturity of Investments		 75 46 30 12
Other Investing Activities, net		 -7.45 0.97 0.00 51
Net Cash From Financing Activities		 -34 13 2.97 -21
Net Cash From Continuing Financing Activities		 -34 13 2.97 -21
Repayment of Debt		 -19 -8.37 -8.68 -23
Repurchase of Common Equity		 -6.12 -8.09 -2.14 0.00
Issuance of Debt		 0.00 25 5.25 0.85
Issuance of Common Equity		 0.00 1.12 8.53 0.71

Quarterly Cash Flow Statements for Beneficient

This table details how cash moves in and out of Beneficient's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Q4 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 -1.46 8.85 -3.29 -3.26 0.08 -0.60 -2.86 6.27 -2.71 2.97 -5.32
Net Cash From Operating Activities		 -13 -22 -8.65 -11 -8.61 -10.00 -8.45 -11 -15 -9.37 -3.98
Net Cash From Continuing Operating Activities		 -13 -22 -8.65 -11 -8.61 -10.00 -8.45 -11 -15 -9.37 -3.98
Net Income / (Loss) Continuing Operations		 -382 -925 -196 44 9.75 -10 -45 -93 -18 5.94 -60
Consolidated Net Income / (Loss)		 -382 -925 -196 44 9.75 -10 -45 -93 -18 5.94 -60
Depreciation Expense		 0.99 1.11 0.74 0.41 0.39 0.45 0.44 0.24 0.14 0.14 0.22
Amortization Expense		 -0.07 0.09 0.01 0.04 0.06 0.10 0.09 0.09 0.09 0.43 0.16
Non-Cash Adjustments To Reconcile Net Income		 363 909 177 -57 -24 -0.45 34 79 7.90 -15 51
Changes in Operating Assets and Liabilities, net		 4.33 -7.30 8.98 1.19 5.59 0.13 1.83 2.74 -4.75 -1.06 4.43
Net Cash From Investing Activities		 15 11 7.32 6.39 4.77 6.22 11 26 16 16 1.96
Net Cash From Continuing Investing Activities		 15 11 7.32 6.39 4.77 6.22 11 26 16 16 1.96
Purchase of Investments		 -0.27 -0.74 -0.15 -0.19 -0.26 -0.51 -0.26 -1.22 -0.81 -0.12 -0.08
Sale and/or Maturity of Investments		 14 12 7.90 7.25 5.30 6.78 11 3.71 4.07 3.54 0.74
Other Investing Activities, net		 - - - 0.00 - - - 24 13 13 1.30
Net Cash From Financing Activities		 -2.53 20 -1.97 0.99 3.92 3.18 -5.13 -9.35 -4.55 -4.09 -3.30
Net Cash From Continuing Financing Activities		 -2.53 20 -1.97 0.99 3.92 3.18 -5.13 -9.35 -4.55 -4.09 -3.30
Repayment of Debt		 -2.50 -2.81 - 0.00 -0.20 -3.28 -5.20 -10 -4.55 -4.09 -3.74
Issuance of Common Equity		 - 0.68 0.44 2.56 0.67 5.23 0.07 0.27 - - 0.44

Annual Balance Sheets for Beneficient

This table presents Beneficient's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2023 2024 2025 2026
Period end date 3/31/2023 3/31/2024 3/31/2025 3/31/2026
Total Assets		 2,911 369 355 239
Total Current Assets		 8.73 7.91 1.35 2.54
Cash & Equivalents		 8.73 7.91 1.35 2.54
Plant, Property, & Equipment, net		 0.00 0.00 0.00 0.00
Total Noncurrent Assets		 2,902 361 354 236
Goodwill		 2,368 14 9.91 9.91
Intangible Assets		 3.10 3.10 3.10 0.00
Other Noncurrent Operating Assets		 34 15 341 226
Total Liabilities & Shareholders' Equity		 2,911 369 355 239
Total Liabilities		 232 310 299 338
Total Current Liabilities		 66 157 100 64
Accounts Payable		 66 157 100 64
Total Noncurrent Liabilities		 166 152 199 274
Long-Term Debt		 151 121 118 97
Other Noncurrent Operating Liabilities		 15 32 81 177
Redeemable Noncontrolling Interest		 1,901 502 181 181
Total Equity & Noncontrolling Interests		 1,728 -192 -35 -189
Total Preferred & Common Equity		 1,586 -234 -167 -214
Preferred Stock		 0.00 0.00 0.00 0.00
Total Common Equity		 1,586 -234 -167 -214
Common Stock		 1,580 1,848 1,844 1,885
Retained Earnings		 0.00 -2,059 -2,008 -2,095
Treasury Stock		 -3.44 -3.44 -3.44 -3.44
Accumulated Other Comprehensive Income / (Loss)		 9.90 0.28 -0.00 0.05
Noncontrolling Interest		 142 42 132 25

Quarterly Balance Sheets for Beneficient

This table presents Beneficient's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026 Q3 2026
Period end date 9/30/2023 12/31/2023 6/30/2024 9/30/2024 12/31/2024 6/30/2025 9/30/2025 12/31/2025
Total Assets		 1,457 501 361 369 400 335 316 338
Total Current Assets		 2.39 11 4.40 4.48 4.15 7.61 4.90 7.87
Cash & Equivalents		 2.39 11 4.40 4.48 4.15 7.61 4.90 7.87
Plant, Property, & Equipment, net		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Noncurrent Assets		 1,455 489 357 29 396 327 67 124
Goodwill		 965 82 10 9.91 9.91 9.91 9.91 9.91
Intangible Assets		 3.10 3.10 3.10 3.10 3.10 3.10 3.10 3.10
Other Noncurrent Operating Assets		 29 26 12 16 49 50 54 111
Total Liabilities & Shareholders' Equity		 1,457 501 361 369 400 335 316 338
Total Liabilities		 274 246 259 256 295 364 369 376
Total Current Liabilities		 105 96 103 114 152 229 234 242
Accounts Payable		 105 96 103 112 149 229 234 242
Total Noncurrent Liabilities		 169 149 156 142 143 135 134 134
Long-Term Debt		 151 128 121 122 120 108 104 100
Other Noncurrent Operating Liabilities		 18 21 35 20 23 27 30 34
Redeemable Noncontrolling Interest		 502 502 502 126 181 181 91 91
Total Equity & Noncontrolling Interests		 932 3.97 -148 -13 14 -120 -143 -129
Total Preferred & Common Equity		 369 -172 -183 -165 -167 -220 -223 -180
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 369 -172 -183 -165 -167 -220 -223 -180
Common Stock		 1,843 1,844 1,852 1,836 1,844 1,857 1,857 1,881
Retained Earnings		 -1,451 -1,993 -2,012 -1,999 -2,007 -2,073 -2,077 -2,057
Treasury Stock		 -3.44 -3.44 -3.44 -3.44 -3.44 -3.44 -3.44 -3.44
Accumulated Other Comprehensive Income / (Loss)		 0.39 0.44 0.26 0.28 0.16 -0.00 0.09 0.05
Noncontrolling Interest		 564 176 34 152 181 99 80 51

Annual Metrics And Ratios for Beneficient

This table displays calculated financial ratios and metrics derived from Beneficient's official financial filings.

Metric 2023 2024 2025 2026
Period end date 3/31/2023 3/31/2024 3/31/2025 3/31/2026
DEI Shares Outstanding		 0.00 276,350,035.00 8,658,950.00 14,213,730.00
DEI Adjusted Shares Outstanding		 0.00 431,797.00 1,082,369.00 14,213,730.00
DEI Earnings Per Adjusted Shares Outstanding		 0.00 -4,853.30 47.27 -6.15
Growth Metrics		 - - - -
Revenue Growth		 0.00% 5.92% 86.13% -543.27%
EBITDA Growth		 0.00% -941.56% 100.05% -12,934.49%
EBIT Growth		 0.00% -946.14% 99.97% -22,717.75%
NOPAT Growth		 0.00% -946.14% 99.09% -588.49%
Net Income Growth		 0.00% -954.41% 99.97% -20,414.32%
EPS Growth		 0.00% -954.41% 99.97% -2,796.15%
Operating Cash Flow Growth		 0.00% 38.80% 35.24% -2.69%
Free Cash Flow Firm Growth		 0.00% 0.00% -155.20% 117.34%
Invested Capital Growth		 0.00% -106.78% 209.24% -102.62%
Revenue Q/Q Growth		 0.00% 0.00% -53.60% -53.98%
EBITDA Q/Q Growth		 0.00% -139,584.50% 100.81% 6.78%
EBIT Q/Q Growth		 0.00% 0.00% 99.54% 6.81%
NOPAT Q/Q Growth		 0.00% 0.00% 84.74% 5.68%
Net Income Q/Q Growth		 0.00% 0.00% 99.47% -10.37%
EPS Q/Q Growth		 0.00% 0.00% 99.47% -456.35%
Operating Cash Flow Q/Q Growth		 0.00% 17.93% 0.53% 10.34%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% -8,602.74% 170.22%
Invested Capital Q/Q Growth		 0.00% -2,344.82% 251.85% 97.01%
Profitability Metrics		 - - - -
Gross Margin		 0.00% 0.00% 0.00% 0.00%
EBITDA Margin		 0.00% 0.00% 0.00% 0.00%
Operating Margin		 0.00% 0.00% 0.00% 0.00%
EBIT Margin		 0.00% 0.00% 0.00% 0.00%
Profit (Net Income) Margin		 0.00% 0.00% 0.00% 0.00%
Tax Burden Percent		 99.58% 100.03% 111.07% 100.13%
Interest Burden Percent		 100.00% 100.33% 100.28% 100.00%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 -13.89% -134.95% -0.35% -238.92%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% -201.38% 0.00%
Operating Return on Assets (OROA)		 0.00% 0.00% 0.00% 0.00%
Return on Assets (ROA)		 0.00% 0.00% 0.00% 0.00%
Return on Common Equity (ROCE)		 -6.07% -46.31% 0.31% 660.19%
Return on Equity Simple (ROE_SIMPLE)		 -15.89% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -177 -1,854 -17 -117
NOPAT Margin		 0.00% 0.00% 0.00% 0.00%
Net Nonoperating Expense Percent (NNEP)		 -5.74% -90.74% 7.30% 323.95%
Return On Investment Capital (ROIC_SIMPLE)		 - 2,588.89% -20.40% 126.01%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 0.00% 0.00% 0.00% 0.00%
Earnings before Interest and Taxes (EBIT)		 -253 -2,649 -0.72 -165
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -254 -2,646 1.27 -163
Valuation Ratios		 - - - -
Price to Book Value (P/BV)		 0.00 0.00 0.00 0.00
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)		 0.00 0.00 0.00 0.00
Price to Earnings (P/E)		 0.00 0.00 0.05 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 1,890.14% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 2.51 0.00
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 340.46 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.55 0.00 5.82
Leverage & Solvency		 - - - -
Debt to Equity		 0.04 0.39 0.81 -11.75
Long-Term Debt to Equity		 0.04 0.39 0.81 -11.75
Financial Leverage		 -0.36 -0.45 -0.97 0.22
Leverage Ratio		 0.80 0.83 1.59 4.31
Compound Leverage Factor		 0.80 0.84 1.59 4.31
Debt to Total Capital		 4.01% 27.99% 44.65% 109.30%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 4.01% 27.99% 44.65% 109.30%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 54.04% 126.45% 118.60% 232.39%
Common Equity to Total Capital		 41.95% -54.44% -63.25% -241.69%
Debt to EBITDA		 -0.60 -0.05 92.83 -0.59
Net Debt to EBITDA		 1.40 0.08 91.77 -0.58
Long-Term Debt to EBITDA		 -0.60 -0.05 92.83 -0.59
Debt to NOPAT		 -0.85 -0.07 -6.96 -0.83
Net Debt to NOPAT		 2.00 0.12 -6.88 -0.81
Long-Term Debt to NOPAT		 -0.85 -0.07 -6.96 -0.83
Altman Z-Score		 0.00 -32.26 -8.30 -15.15
Noncontrolling Interest Sharing Ratio		 56.30% 65.68% 187.99% 376.32%
Liquidity Ratios		 - - - -
Current Ratio		 0.13 0.05 0.01 0.04
Quick Ratio		 0.13 0.05 0.01 0.04
Cash Flow Metrics		 - - - -
Free Cash Flow to Firm (FCFF)		 0.00 628 -347 60
Operating Cash Flow to CapEx		 -4,579.59% -3,309.61% -3,430.66% -40,330.21%
Free Cash Flow to Firm to Interest Expense		 0.00 70.99 -23.25 3.20
Operating Cash Flow to Interest Expense		 0.00 -6.58 -2.53 -2.06
Operating Cash Flow Less CapEx to Interest Expense		 0.00 -6.78 -2.60 -2.06
Efficiency Ratios		 - - - -
Asset Turnover		 0.00 0.00 0.00 0.00
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00
Inventory Turnover		 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 0.00 0.00 0.00
Accounts Payable Turnover		 0.00 0.58 0.14 0.16
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 624.54 2,632.58 2,323.30
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - -
Invested Capital		 2,324 -158 172 -4.52
Invested Capital Turnover		 0.00 0.00 0.00 0.00
Increase / (Decrease) in Invested Capital		 0.00 -2,482 330 -177
Enterprise Value (EV)		 0.00 346 432 350
Market Capitalization		 0.00 19 2.71 50
Book Value per Share		 $636.65 ($0.85) ($19.29) ($15.06)
Tangible Book Value per Share		 ($315.00) ($0.91) ($20.79) ($15.75)
Total Capital		 3,781 430 264 89
Total Debt		 151 121 118 97
Total Long-Term Debt		 151 121 118 97
Net Debt		 -355 -217 117 94
Capital Expenditures (CapEx)		 2.08 1.76 1.10 0.10
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -66 -157 -100 -64
Debt-free Net Working Capital (DFNWC)		 -57 -149 -99 -61
Net Working Capital (NWC)		 -57 -149 -99 -61
Net Nonoperating Expense (NNE)		 75 804 -16 48
Net Nonoperating Obligations (NNO)		 -1,305 -468 26 3.72
Total Depreciation and Amortization (D&A)		 -0.87 2.53 1.99 1.52
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00%
Debt-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00%
Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00%
Earnings Adjustments		 - - - -
Adjusted Basic Earnings per Share		 $0.00 ($1,257.54) $177.60 ($28.04)
Adjusted Weighted Average Basic Shares Outstanding		 0.00 3.14M 0.00 14.52M
Adjusted Diluted Earnings per Share		 $0.00 ($1,257.54) $0.96 ($28.04)
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 3.14M 0.00 14.52M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 0.00 14.52M
Normalized Net Operating Profit after Tax (NOPAT)		 -177 -167 -53 -70
Normalized NOPAT Margin		 0.00% 0.00% 0.00% 0.00%
Pre Tax Income Margin		 0.00% 0.00% 0.00% 0.00%
Debt Service Ratios		 - - - -
EBIT to Interest Expense		 0.00 -299.41 -0.05 -8.75
NOPAT to Interest Expense		 0.00 -209.58 -1.14 -6.20
EBIT Less CapEx to Interest Expense		 0.00 -299.60 -0.12 -8.76
NOPAT Less CapEx to Interest Expense		 0.00 -209.78 -1.21 -6.20
Payout Ratios		 - - - -
Dividend Payout Ratio		 -0.05% -0.01% 0.00% 0.00%
Augmented Payout Ratio		 -2.48% -0.31% -266.50% 0.00%

Quarterly Metrics And Ratios for Beneficient

This table displays calculated financial ratios and metrics derived from Beneficient's official financial filings.

Metric Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Q4 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 0.00 276,350,035.00 276,350,035.00 276,350,035.00 4,245,621.00 5,080,606.00 8,658,950.00 8,658,950.00 9,703,505.00 - 14,213,730.00
DEI Adjusted Shares Outstanding		 0.00 431,797.00 431,797.00 431,797.00 530,703.00 635,076.00 1,082,369.00 1,082,369.00 1,212,938.00 - 14,213,730.00
DEI Earnings Per Adjusted Shares Outstanding		 0.00 -1,255.60 -153.35 133.22 24.33 -13.60 -12.81 -71.96 -2.99 - -2.08
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -12.69% 10.56% 0.00% 868.28% 120.02% 143.08% -11.12% -220.52% -132.27% 323.23% -64.58%
EBITDA Growth		 -421.70% -1,918.86% -155,386.40% 105.20% 102.68% 99.02% 69.05% -269.16% -272.87% 150.41% 16.43%
EBIT Growth		 -422.96% -1,926.17% 0.00% 105.16% 102.55% 98.96% 68.90% -271.00% -283.28% 141.46% 16.54%
NOPAT Growth		 -422.96% -1,926.17% 0.00% 107.37% 94.87% 98.96% 68.90% -219.78% 8.82% 159.23% 16.54%
Net Income Growth		 -416.69% -2,058.39% 0.00% 103.83% 102.55% 98.89% 77.18% -309.09% -283.72% 158.09% -34.68%
EPS Growth		 -416.69% -2,058.39% 0.00% 100.04% 100.03% 98.89% 0.00% -4,329.41% -1,333.33% 100.43% 0.00%
Operating Cash Flow Growth		 0.00% -66.24% 59.54% 23.46% 35.95% 54.99% 2.32% -1.78% -68.69% 6.26% 52.87%
Free Cash Flow Firm Growth		 0.00% 0.00% 0.00% 0.00% 184.58% 115.80% -115.87% -94.77% -91.74% -58.19% 137.96%
Invested Capital Growth		 0.00% 0.00% -106.78% 0.00% -112.02% -1,658.72% 209.24% -71.51% -87.80% -33.50% -102.62%
Revenue Q/Q Growth		 -1,458.91% 76.06% -319.71% 149.06% -59.38% -48.50% -1,182.65% 43.82% 89.12% 775.35% -521.02%
EBITDA Q/Q Growth		 67.06% -140.19% 78.78% 130.97% -83.03% -187.88% -570.24% -127.17% 82.66% 125.63% -1,211.24%
EBIT Q/Q Growth		 66.97% -139.93% 78.73% 130.61% -83.66% -197.60% -537.14% -125.21% 82.49% 122.08% -1,382.53%
NOPAT Q/Q Growth		 66.97% -139.93% 78.73% 143.71% -123.01% 51.45% -537.14% -125.21% 82.49% 131.54% -997.77%
Net Income Q/Q Growth		 66.97% -142.26% 78.85% 122.66% -78.00% -204.91% -336.48% -107.57% 80.67% 133.17% -1,112.04%
EPS Q/Q Growth		 66.97% -142.26% 0.00% 0.00% -82.35% -204.91% 0.00% 0.00% 94.85% 110.81% -2,650.00%
Operating Cash Flow Q/Q Growth		 3.34% -65.21% 61.08% -23.14% 19.11% -16.11% 15.54% -28.31% -34.07% 35.48% 57.54%
Free Cash Flow Firm Q/Q Growth		 0.00% 44.38% 469.55% -92.66% 460.98% -89.61% -471.20% 112.85% 785.27% -47.40% 236.95%
Invested Capital Q/Q Growth		 0.00% -100.74% -2,344.82% 28.65% 6.61% -7.95% 251.85% -61.77% -2.26% 23.26% 97.01%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 0.00% 0.00% 0.00% 79.24% 11.10% 33.57% 0.00% 0.00% 0.00% 83.87% 0.00%
EBITDA Margin		 0.00% 0.00% 0.00% 285.21% 119.13% -203.29% 0.00% 0.00% 0.00% 24.21% 0.00%
Operating Margin		 0.00% 0.00% 0.00% 283.07% -160.20% -215.76% 0.00% 0.00% 0.00% 21.14% 0.00%
EBIT Margin		 0.00% 0.00% 0.00% 283.07% 113.85% -215.76% 0.00% 0.00% 0.00% 21.14% 0.00%
Profit (Net Income) Margin		 0.00% 0.00% 0.00% 210.26% 113.85% -231.93% 0.00% 0.00% 0.00% 31.83% 0.00%
Tax Burden Percent		 100.00% 100.01% 100.37% 99.94% 100.00% 107.50% 98.54% 100.00% 100.24% 100.00% 100.29%
Interest Burden Percent		 100.00% 100.97% 100.00% 74.33% 100.00% 100.00% 74.73% 90.82% 100.00% 150.61% 118.51%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.06% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 0.00% 0.00% -134.95% -824.11% -137.89% -43.27% -0.35% -66.48% -551.08% -189.80% -238.92%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -201.38% 0.00% 0.00% 0.00% 0.00%
Operating Return on Assets (OROA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Assets (ROA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Common Equity (ROCE)		 0.00% 0.00% -46.31% 425.27% -18.13% 20.91% 0.31% 64.54% 3,563.44% 418.01% 660.19%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -267 -641 -136 60 -14 -6.66 -42 -71 -13 3.94 -35
NOPAT Margin		 0.00% 0.00% 0.00% 282.89% -160.20% -151.03% 0.00% 0.00% 0.00% 21.14% 0.00%
Net Nonoperating Expense Percent (NNEP)		 -40.87% -110.71% -6.68% -6.57% 6.03% -0.87% -1.00% -5.90% -2.98% 0.95% 166.15%
Return On Investment Capital (ROIC_SIMPLE)		 - -485.11% 190.47% -214.94% -12.59% -4.95% -51.14% 594.85% 32.17% -13.97% 38.28%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 20.76% 88.90% 66.43% 0.00% 0.00% 0.00% 16.13% 0.00%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 40.93% 117.36% 176.07% 0.00% 0.00% 0.00% 31.65% 0.00%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 0.00% 0.00% 0.00% -203.82% 171.30% 176.07% 0.00% 0.00% 0.00% 31.65% 0.00%
Earnings before Interest and Taxes (EBIT)		 -382 -916 -195 60 9.75 -9.51 -61 -102 -18 3.94 -51
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -381 -915 -194 60 10 -8.96 -60 -102 -18 4.52 -50
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.05 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 1,890.14% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 0.00 0.00 2.51 0.00 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 290.57 0.00 0.00 0.00 0.00 340.46 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.55 0.00 1.71 0.00 0.00 0.00 0.00 0.00 5.82
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.11 0.25 0.39 0.34 1.09 0.62 0.81 1.79 -1.99 -2.64 -11.75
Long-Term Debt to Equity		 0.11 0.25 0.39 0.34 1.09 0.62 0.81 1.79 -1.99 -2.64 -11.75
Financial Leverage		 -0.39 -1.01 -0.45 -1.32 -0.50 -1.17 -0.97 -1.74 -6.03 -2.68 0.22
Leverage Ratio		 1.02 0.99 0.83 1.02 1.18 1.28 1.59 1.68 11.41 4.69 4.31
Compound Leverage Factor		 1.02 1.00 0.83 0.76 1.18 1.28 1.19 1.52 11.41 7.07 5.10
Debt to Total Capital		 9.51% 20.21% 27.99% 25.41% 52.09% 38.11% 44.65% 64.12% 201.24% 161.06% 109.30%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 9.51% 20.21% 27.99% 25.41% 52.09% 38.11% 44.65% 64.12% 201.24% 161.06% 109.30%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 67.23% 106.95% 126.45% 113.08% 118.42% 114.69% 118.60% 165.93% 330.22% 227.45% 232.39%
Common Equity to Total Capital		 23.25% -27.16% -54.44% -38.49% -70.50% -52.80% -63.25% -130.05% -431.47% -288.51% -241.69%
Debt to EBITDA		 256.46 67.58 -0.05 -0.08 -0.12 -0.77 92.83 -0.59 -0.55 -0.57 -0.59
Net Debt to EBITDA		 -526.13 -137.83 0.08 0.15 -0.11 1.40 91.77 0.89 -0.53 -0.53 -0.58
Long-Term Debt to EBITDA		 256.46 67.58 -0.05 -0.08 -0.12 -0.77 92.83 -0.59 -0.55 -0.57 -0.59
Debt to NOPAT		 0.00 0.00 -0.07 -0.12 -0.16 -1.08 -6.96 -0.83 -0.78 -0.81 -0.83
Net Debt to NOPAT		 0.00 0.00 0.12 0.21 -0.16 1.97 -6.88 1.25 -0.74 -0.75 -0.81
Long-Term Debt to NOPAT		 0.00 0.00 -0.07 -0.12 -0.16 -1.08 -6.96 -0.83 -0.78 -0.81 -0.83
Altman Z-Score		 0.00 -11.49 -10.29 -7.77 -7.91 -7.56 -8.85 -10.65 -10.46 -9.33 -13.57
Noncontrolling Interest Sharing Ratio		 74.30% 134.04% 65.68% 151.60% 86.85% 148.32% 187.99% 197.09% 746.63% 320.24% 376.32%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 0.02 0.12 0.05 0.04 0.04 0.03 0.01 0.03 0.02 0.03 0.04
Quick Ratio		 0.02 0.12 0.05 0.04 0.04 0.03 0.01 0.03 0.02 0.03 0.04
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -1,141 -635 2,346 172 965 100 -372 9.00 80 42 141
Operating Cash Flow to CapEx		 -3,112.50% -5,923.73% -2,015.38% -1,603.46% -3,201.49% -23,807.14% -6,810.48% -11,287.50% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 0.00 -71.75 0.00 40.13 0.00 0.00 0.00 2.64 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 -2.51 0.00 -2.48 0.00 0.00 0.00 -3.17 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 -2.55 0.00 -2.64 0.00 0.00 0.00 -3.20 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accounts Payable Turnover		 0.00 0.00 0.58 0.00 0.24 0.18 0.14 0.10 0.07 0.06 0.16
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 624.54 0.00 1,532.65 2,084.77 2,632.58 3,603.70 5,444.58 6,095.27 2,323.30
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 874 -6.45 -158 -112 -105 -113 172 -193 -197 -151 -4.52
Invested Capital Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Increase / (Decrease) in Invested Capital		 874 -6.45 -2,482 -112 -979 -107 330 -80 -92 -38 -177
Enterprise Value (EV)		 0.00 551 346 329 400 148 432 120 279 332 350
Market Capitalization		 0.00 134 19 7.67 5.22 3.78 2.71 2.60 9.23 98 50
Book Value per Share		 $1.33 ($0.62) ($0.85) ($0.66) ($38.93) ($32.80) ($19.29) ($25.39) ($22.97) ($1.62) ($15.06)
Tangible Book Value per Share		 ($2.17) ($0.93) ($0.91) ($0.71) ($42.00) ($35.36) ($20.79) ($26.89) ($24.31) ($1.74) ($15.75)
Total Capital		 1,585 634 430 474 234 316 264 169 52 62 89
Total Debt		 151 128 121 121 122 120 118 108 104 100 97
Total Long-Term Debt		 151 128 121 121 122 120 118 108 104 100 97
Net Debt		 -309 -261 -217 -215 118 -218 117 -163 99 92 94
Capital Expenditures (CapEx)		 0.43 0.38 0.43 0.66 0.27 0.04 0.12 0.10 0.00 0.00 0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -105 -96 -157 -103 -114 -152 -100 -229 -234 -242 -64
Debt-free Net Working Capital (DFNWC)		 -103 -85 -149 -99 -110 -148 -99 -221 -229 -234 -61
Net Working Capital (NWC)		 -103 -85 -149 -99 -110 -148 -99 -221 -229 -234 -61
Net Nonoperating Expense (NNE)		 115 284 59 15 -23 3.57 2.21 21 5.40 -2.00 25
Net Nonoperating Obligations (NNO)		 -560 -513 -468 -466 -217 -309 26 -254 -145 -113 3.72
Total Depreciation and Amortization (D&A)		 0.92 1.21 0.75 0.45 0.45 0.55 0.54 0.33 0.23 0.57 0.38
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Debt-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($229.60) ($315.20) $0.00 $24.22 $5.67 ($18.72) $0.00 ($14.38) ($0.74) $2.38 ($2.04)
Adjusted Weighted Average Basic Shares Outstanding		 3.21M 3.43M 0.00 4.25M 5.08M 1.08M 0.00 0.00 111.00M 14.21M 14.52M
Adjusted Diluted Earnings per Share		 ($229.60) ($315.20) $0.00 $0.34 $0.06 ($18.72) $0.00 ($14.38) ($0.74) $0.08 ($2.04)
Adjusted Weighted Average Diluted Shares Outstanding		 3.21M 3.43M 0.00 4.25M 5.08M 1.08M 0.00 0.00 111.00M 14.21M 14.52M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 ($2.04)
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 3.45M 3.45M 0.00 4.25M 5.08M 1.08M 0.00 0.00 111.00M 14.21M 14.52M
Normalized Net Operating Profit after Tax (NOPAT)		 -53 -23 -50 63 -9.39 -6.66 -42 -71 -13 2.76 -33
Normalized NOPAT Margin		 0.00% 0.00% 0.00% 298.99% -109.71% -151.03% 0.00% 0.00% 0.00% 14.80% 0.00%
Pre Tax Income Margin		 0.00% 0.00% 0.00% 210.39% 113.85% -215.76% 0.00% 0.00% 0.00% 31.83% 0.00%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 -103.54 0.00 13.91 0.00 0.00 0.00 -29.87 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 -72.48 0.00 13.90 0.00 0.00 0.00 -20.91 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 -103.59 0.00 13.76 0.00 0.00 0.00 -29.90 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 -72.52 0.00 13.75 0.00 0.00 0.00 -20.94 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% -0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% -0.31% -0.45% -0.61% -3.00% -266.50% -0.42% -0.35% 0.00% 0.00%

Financials Breakdown Chart

Key Financial Trends

Beneficient (NASDAQ: BENF) shows a sharply deteriorating financial profile over the past four years, with heavy losses, shrinking revenue, and a balance sheet that remains highly leveraged and fragile. The latest quarter (Q4 2026) was especially weak, with operating revenue falling to a negative $78.6 million and net loss attributable to common shareholders of $29.6 million.

  • Cash from investing activities was positive in Q4 2026, helped by sales/maturities of investments and other investing inflows.
  • The company continues to generate some non-cash add-backs like depreciation and amortization, which partially offset reported losses in operating cash flow.
  • Q3 2025 and Q1 2025 both showed periods of strong reported profitability, suggesting results can be highly volatile quarter to quarter.
  • Long-term debt has been relatively stable in the $100 million to $122 million range across the periods shown.
  • Cash balances have fluctuated but were still above $7 million in Q3 2026 and Q1 2026, giving the company some short-term liquidity cushion.
  • Revenue has been extremely inconsistent and mostly negative in recent quarters, including Q1 2026, Q2 2026, and Q4 2026.
  • The company posted substantial operating losses in most periods, including an operating loss of $50.6 million in Q4 2026 and $102.0 million in Q1 2026.
  • Operating cash flow was negative in every quarter shown for 2026 and in most 2025 periods, indicating the core business is not consistently self-funding.
  • Beneficient has large accumulated deficits, with retained earnings deeply negative and total common equity still negative in every balance sheet presented.
  • The balance sheet remains burdened by large liabilities and redeemable noncontrolling interests, limiting financial flexibility.
  • The sharp decline in reported revenue from Q3 2026 to Q4 2026 and the continued losses suggest the turnaround remains highly uncertain.
  • The business has also shown sizable impairment and special charges in prior periods, pointing to asset-quality and valuation risk.

Bottom line: BENF’s recent results point to a highly volatile, financially stressed company with no clear sign yet of sustainable profitability. While occasional quarters have looked strong, the multi-year trend is dominated by losses, weak operating cash flow, and balance-sheet strain.

07/26/26 11:27 PM ETAI Generated. May Contain Errors.

Beneficient Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Beneficient's financial year ends in March. Their financial year 2026 ended on March 31, 2026.

Beneficient's net income appears to be on a downward trend, with a most recent value of -$164.73 million in 2026, falling from -$252.10 million in 2023. The previous period was -$803 thousand in 2025.

Beneficient's total operating income in 2026 was -$166.51 million, based on the following breakdown:
  • Total Gross Profit: -$100.96 million
  • Total Operating Expenses: $95.69 million

Over the last 3 years, Beneficient's total revenue changed from -$104.90 million in 2023 to -$88.06 million in 2026, a change of -16.1%.

Beneficient's total liabilities were at $337.53 million at the end of 2026, a 12.8% increase from 2025, and a 45.6% increase since 2023.

In the past 3 years, Beneficient's cash and equivalents has ranged from $1.35 million in 2025 to $8.73 million in 2023, and is currently $2.54 million as of their latest financial filing in 2026.

Over the last 3 years, Beneficient's book value per share changed from 636.65 in 2023 to -15.06 in 2026, a change of -102.4%.


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Financial statements for NASDAQ:BENFW last updated on 7/16/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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Goldman Sachs and Morgan Stanley are now predicting what could be the worst news for the U.S. stock market in ...
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BofA: Digital Dollar Coming 2025-2030
Bank of America just revealed your expiration date. In their Bloomberg interview, they didn't just predict the...
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Three oil giants buried the same discovery for 50 years
In 1976, Chevron tapped an energy source with no fuel costs, no carbon, and no supply chain - then killed the ...
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