Beneficient
BENFNasdaqFinancials · Finance Services · NV · SEC filings ↗ · Compare ⊕
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SEC XBRL · annual| FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | |
|---|---|---|---|---|---|---|
| Revenue | −$7.9M | −$98.7M | −$104.9M | −$66.6M | $2.4M | $140.3M |
| Operating income | −$24.2M | −$2.65B | −$253.2M | −$99.8M | −$23.2M | −$47.4M |
| Net income | −$803,000 | −$2.10B | −$131.0M | −$44.4M | −$63.0M | −$58.0M |
| Total assets | $354.9M | $368.5M | $2.91B | $3.14B | — | — |
| Total liabilities | $299.3M | $309.6M | $231.8M | $241.4M | — | — |
| Equity | −$34.9M | −$192.1M | $1.73B | $1.91B | $984.9M | $986.3M |
| EPS (diluted) | — | — | $-1.94 | $-0.66 | $-0.14 | $-1.27 |
| Shares out. | — | — | 67.5M | 67.5M | 48.2M | 45.8M |
Reported figures from the company's SEC filings (XBRL). Blank where a line item isn't cleanly tagged — never estimated.
Key ratios
from filings · FY2025- Operating margin
- 304.5%
- Net margin
- 10.1%
- Return on equity
- 2.3%
- Return on assets
- −0.2%
- Return on capital (ROCE)
- —
- Liabilities / assets
- 84.3%
- Debt / equity
- —
- Book value / share
- —
- Revenue growth (YoY)
- —
- Net income growth (YoY)
- —
Computed from the company's own SEC figures — no market price, so these are facts, not a valuation. Book value per share is reported equity ÷ shares; it is not the stock price.
Financial health
forensic scores · FY2025- Accruals / assets
- 10.4%high accruals
- Piotroski F-Score
- 2/7weak
Altman Z″is a textbook bankruptcy-distress score from book values only (>2.6 safe · 1.1–2.6 grey · <1.1 distress). Accruals = (net income − operating cash flow) ÷ assets; persistently high accruals are an earnings-quality red flag. Beneish M-Scoreis an eight-ratio screen comparing this year with last (M > −1.78 = elevated manipulation-risk screen, not proof). Piotroski F-Scorecounts how many of nine fundamental-health checks pass (shown as passed / applicable; we use operating margin and total liabilities as documented proxies where the exact input isn't XBRL-tagged). Computed from SEC filings — descriptive factors, not advice or a forecast.
Quality score
EDS ScoreOur own multi-factor score from free SEC data — profitability, growth, financial strength, earnings quality, and event/ownership catalysts. No market price and no licensed model: each axis is the share of source-backed checks it passes. Descriptive factors, not advice or a forecast.
Signs
● 2 severe● 3 warning● 1 good- Negative shareholder equity
- Filed a late-filing notice (Form NT) — missed an SEC deadline
- High leverage (liabilities > 70% of assets)
- Negative operating cash flow
- High accruals — earnings-quality risk
- Operating margin is positive
Derived from the company's own SEC figures (fundamentals, forensic scores, filing discipline) — descriptive factors, not advice or a forecast.
Risk flags
late SEC filings- NT 10-Qmissed a reporting deadline ↗Aug 19, 2025
- NT 10-Kmissed a reporting deadline ↗Jul 1, 2025
- NT 10-Kmissed a reporting deadline ↗Jul 2, 2024
- NT 10-Kmissed a reporting deadline ↗Jun 30, 2023
A Form NT means the company notified the SEC it would file a periodic report late — often an accounting, audit or liquidity warning sign. Also search SEC enforcement actions for this company.
5%+ owners
SEC Schedule 13D / 13G · last 3 yrs- Hicks Mack H.Activist (13D)Apr 20, 2026
- Hatteras Investment Partners, LpPassive (13G)Nov 14, 2025
- Heppner Brad KActivist (13D)Dec 26, 2024
Holders who disclosed a 5%+ stake. 13D signals intent to influence or control; 13G is a passive holding. Latest filing per holder — open it for the exact stake.
Insider transactions
SEC Form 4 · most recent| Insider | Date | Type | Shares | Price |
|---|---|---|---|---|
| Cangany Peter T JrDirector | Dec 5, 2025 | Grant | 635,690 | $0.00 |
Headline trade per Form 4 (officers, directors, 10%+ owners). Buy/sell read from the filing's structured data — blank where a field isn't cleanly tagged.
Short interest
FINRA · bi-monthly| Settlement | Shares short | Days to cover | Δ vs prior |
|---|---|---|---|
| May 15, 2026 | 236,195 | 11.6 | -16.7% |
| Apr 30, 2026 | 283,633 | 7.2 | -30.2% |
| Apr 15, 2026 | 406,447 | 1.0 | +107.3% |
| Mar 31, 2026 | 196,071 | 8.6 | -21.9% |
| Mar 13, 2026 | 251,170 | 8.0 | -22.1% |
Shares sold short as reported to FINRA. Days-to-cover = short shares ÷ average daily volume — higher means more potential squeeze pressure.
Material events
SEC Form 8-K · most recent- Unregistered equity sale · Modified shareholder rights · Amended charter or bylaws · Regulation FD disclosureApr 10, 2026
- Director / officer change · Shareholder voteMar 30, 2026
- Entered a material agreement · Unregistered equity sale · Director / officer change · Regulation FD disclosureMar 12, 2026
- Results of operationsFeb 17, 2026
- Regulation FD disclosure · Other material eventJan 21, 2026
- Regulation FD disclosure · Other material eventJan 20, 2026
- Unregistered equity sale · Modified shareholder rights · Amended charter or bylaws · Regulation FD disclosureJan 8, 2026
- Regulation FD disclosure · Other material eventJan 5, 2026
Events the company reported on Form 8-K, labelled by the SEC item code it filed under — its own classification, not our interpretation.
Recent SEC filings
All filings ↗Event-driven situations (1)
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