The company's capital structure is severely impaired, evidenced by a persistent negative equity position that reached a deficit of $222.9 million in 2026Q2.
| Cash & Short Term Investments | 2.54M | 1.35M | 7.91M | 7.91M | 8.73M | 70.59M | 12.49M | 17.55M | 3.54M |
| Cash & Due from Banks | 2.54M | 1.35M | 7.91M | 7.91M | 8.73M | 70.59M | 12.49M | 17.55M | 3.54M |
| Short Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Investments | 0 | 291.37M | 329.12M | 329.12M | 497.22M | 674.17M | 409.94M | 24.55M | 497.73M |
| Investments Growth % | -100% | -11.47% | 0% | -51.18% | 51.08% | 64.46% | 1569.8% | -95.07% | - |
| Long-Term Investments | 0 | 291.37M | 329.12M | 329.12M | 497.22M | 674.17M | 409.94M | 24.55M | 497.73M |
| Accounts Receivables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 29.17M | 23.78M |
| Goodwill & Intangibles | 9.91M | 13.01M | 16.71M | 16.71M | 2.37B | 2.37B | 2.37B | 2.36B | 1.53B |
| Goodwill | 9.91M | 9.91M | 13.61M | 13.61M | 2.37B | 2.37B | 2.37B | 2.36B | 1.53B |
| Intangible Assets | 0 | 3.1M | 3.1M | 3.1M | 3.1M | 3.29M | 3.45M | 4.83M | 0 |
| PP&E (Net) | 0 | 1.73M | 2.33M | 2.33M | 4.34M | 7.34M | 4.58M | 3.15M | 370K |
| Other Assets | 0 | 2.19M | 2.54M | 2.54M | 9.83M | 3.68M | 2.77M | 10.91M | 8.16M |
| Total Current Assets | 2.54M | 46.57M | 17.8M | 17.8M | 28.27M | 84.97M | 28.01M | 279.06M | 41.1M |
| Total Non-Current Assets | 9.91M | 308.31M | 350.7M | 350.7M | 2.88B | 3.06B | 2.79B | 2.4B | 2.04B |
| Total Assets | 238.77M | 354.88M | 368.5M | 368.5M | 2.91B | 3.14B | 2.82B | 2.68B | 2.08B |
| Asset Growth % | -32.72% | -3.7% | 0% | -88.27% | 689.87% | 11.53% | 5.12% | 28.61% | - |
| Return on Assets (ROA) | -29.45% | 14.15% | -568.69% | -7.46% | -7.99% | -1.95% | -12.16% | -0.21% | -0.43% |
| Accounts Payable | 0 | 55.07M | 119.46M | 119.46M | 65.72M | 33.53M | 17.84M | 13.71M | 24.21M |
| Total Debt | 0 | 117.9M | 130.25M | 130.25M | 151.44M | 171.59M | 256.34M | 322.38M | 378.12M |
| Net Debt | -2.54M | 116.55M | 122.33M | 122.33M | 142.72M | 101M | 243.85M | 304.83M | 374.58M |
| Long-Term Debt | 0 | 117.9M | 130.25M | 130.25M | 151.44M | 171.59M | 256.34M | 321.51M | 378.12M |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Liabilities | 0 | 3.63M | 3.92M | 3.92M | 1.12M | 22.63M | 1.37M | 99.98M | 284.24M |
| Total Current Liabilities | 0 | 177.67M | 175.4M | 175.4M | 79.22M | 47.21M | 25.13M | 19.3M | 28.49M |
| Total Non-Current Liabilities | 0 | 121.6M | 134.17M | 134.17M | 152.57M | 194.22M | 257.71M | 421.79M | 662.37M |
| Total Liabilities | 337.53M | 299.27M | 309.57M | 309.57M | 231.79M | 241.43M | 282.84M | 441.08M | 690.86M |
| Total Equity | -189.29M | 55.6M | 58.93M | 58.93M | 2.68B | 2.9B | 2.53B | 2.24B | 1.39B |
| Equity Growth % | -440.44% | -5.66% | 0% | -97.97% | 4445.6% | 14.45% | 13.2% | 60.75% | - |
| Equity / Assets (Capital Ratio) | -79.27% | 15.67% | 15.99% | 15.99% | 92.04% | 92.31% | 89.96% | 83.54% | 66.84% |
| Return on Equity (ROE) | - | 89.34% | -3555.91% | -8.85% | -9.57% | -2.14% | -14% | -0.28% | -0.65% |
| Book Value per Share | -6309.53 | 0.11 | 18.74 | 181.12 | - | 5063.91 | 4424.56 | 49.70 | 27.71 |
| Tangible BV per Share | - | 0.08 | 13.43 | 129.78 | - | 923.06 | 283.42 | -2.77 | -2.76 |
| Common Stock | 14K | 8K | 3K | 3K | 599.52M | 718.57M | 624.95M | 563.97M | 420.17M |
| Additional Paid-in Capital | 0 | 1.84B | 1.85B | 1.85B | 1.58B | 24.43K | 0 | 0 | 0 |
| Retained Earnings | -2.1B | -2.01B | -2.06B | -2.06B | 0 | -1.5K | 0 | 0 | -99.71M |
| Accumulated OCI | 52K | -2K | -19.76M | -19.76M | 9.9M | -1.33M | 0 | 0 | 0 |
| Treasury Stock | 0 | -3.44M | -3.44M | -3.44M | -3.44M | -3.44M | -3.44M | 0 | 0 |
| Preferred Stock | 2K | 0 | 0 | 0 | 0 | 721.79M | 0 | 0 | 0 |
Insolvency and liquidity risk
As reported in financial statements, Beneficient's equity position has remained deeply negative for the majority of the last ten quarters, with the 2026Q2 period showing a deficit of $222.9 million, signaling a structural impairment that continues to challenge the firm's long-term solvency and capital adequacy.
The persistent negative equity suggests that the company's accumulated losses have significantly outpaced its capital base, leaving little room for operational error. Investors should monitor whether the recent shift toward a positive equity position in 2026Q3 represents a sustainable turnaround or merely a temporary accounting fluctuation.
According to recent SEC filings, the company's debt profile has shown significant volatility, peaking at $130.2 million in 2024Q4 before being reported as zero in 2026Q3, which warrants further investigation into whether this reflects a successful deleveraging event or a fundamental shift in the firm's financing structure.
The rapid reduction in reported debt levels appears to be a critical development, yet the lack of clarity regarding the underlying mechanics of this transition raises questions about potential off-balance-sheet obligations. The firm's reliance on debt to fund liquidity provisions makes its cost of capital a primary determinant of future viability.
Based on the provided financial data, Beneficient's cash and equivalents have dwindled to as low as $1.3 million in 2025Q4, indicating an extremely thin liquidity buffer that leaves the firm highly susceptible to market shocks and unable to comfortably meet its short-term operational obligations.
A current ratio consistently near zero suggests that the company lacks the liquid assets necessary to cover its immediate liabilities, which may force management to seek dilutive financing. This liquidity constraint appears to be the most immediate threat to the firm's ability to maintain its fiduciary operations.
As indicated by historical data, the company's retained earnings deficit of $2.1 billion as of 2026Q3 serves as a stark reminder of the massive historical losses that continue to weigh on the balance sheet, potentially masking the true economic value of the firm's current asset portfolio.
This massive deficit suggests that the company's past capital allocation decisions have failed to generate sufficient returns to offset operational costs. Analysts should be wary of headline asset values, as they may not adequately reflect the potential for further impairment given the firm's history of negative earnings.
Quick answers to the most common questions about buying BENF stock.
As of 2026, Beneficient (BENF) had total assets of $238.8M including $2.5M in current assets.
Beneficient (BENF) carries total debt of $0.0M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Beneficient (BENF) has total shareholders' equity (book value) of $90.5M ($-6309.53 book value per share). Book value represents the net worth of the company belonging to common stock holders.