Beneficient (BENF) Balance Sheet
BENF balance sheet, FY2026
March 31, 2026 · U.S. dollars$238.8M assets = $337.5M liabilities + −$98.8M equity
Liabilities exceed assets: shareholders’ equity is negative (−$98.8M).
Both columns are drawn to the same scale: what BENF owns equals what it owes plus shareholders’ equity. Hover a block for its value.
BENF financial health
Descriptive bands, not a rating. Fiscal FY2026.
BENF balance sheet trends, FY2018–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $2.08BFY2018 | $238.8MFY2026 | −23.7%/yr | |
| Total liabilities | $690.9MFY2018 | $337.5MFY2026 | −8.6%/yr | |
| Shareholders’ equity | $320.5MFY2018 | −$214.0MFY2026 | — | |
| Cash & short-term investments | $3.5MFY2018 | $2.5MFY2026 | −4.1%/yr | |
| Total debt | $378.1MFY2018 | $96.8MFY2026 | −15.7%/yr | |
| Net cash (debt) | −$374.6MFY2018 | −$94.2MFY2026 | +$280.3M | |
| Working capital | $12.6MFY2018 | −$236.6MFY2026 | −$249.2M | |
| Book value per share | $6.38FY2018 | −$74.54FY2024 | — | |
| Current ratio | 1.44FY2018 | 0.01FY2026 | −1.43 | |
| Debt / equity | 1.18FY2018 | 0.06FY2022 | −1.12 | |
| Shares outstanding | 50.2MFY2018 | 3.1MFY2024 | −37.0%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
BENF assets
BENF liabilities and equity
BENF debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
BENF balance sheet
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Cash & short-term investments | $2.5M | $1.3M | $7.9M | $7.9M | $8.7M | $70.6M | $12.5M | $17.6M | $3.5M |
| Cash & equivalents | $2.5M | $1.3M | $7.9M | $7.9M | $8.7M | $70.6M | $12.5M | $17.6M | $3.5M |
| Short-term investments | — | — | — | — | $634.0M | — | — | — | — |
| Receivables | $4.3M | $42.9M | $5.8M | $16.4M | $6.5M | $7.0M | $29.2M | $29.2M | $23.8M |
| Inventory | $0 | $0 | −$364.4M | $29.1M | $7.3M | $8.4M | $0 | $0 | $1 |
| Other current assets | $0 | $2.4M | $368.6M | $0 | $5.7M | $0 | $0 | $232.3M | $13.8M |
| Total current assets | $2.5M | $46.6M | $17.8M | $17.8M | $28.3M | $85.0M | $28.0M | $279.1M | $41.1M |
| Property, plant & equipment (net) | $1.1M | $1.7M | $2.3M | $2.3M | $4.3M | $7.3M | $4.6M | $3.1M | $370,000 |
| Goodwill & intangible assets | $19.8M | $13.0M | $16.7M | $16.7M | $2.37B | $2.37B | $2.37B | $2.36B | $1.53B |
| Long-term investments | $195.5M | $291.4M | $329.1M | $497.2M | $674.2M | $409.9M | $0 | $0 | $0 |
| Other non-current assets | $19.8M | $2.2M | $2.5M | $0 | $0 | $267.7M | $412.5M | $34.1M | $510.7M |
| Total assets | $238.8M | $354.9M | $368.5M | $368.5M | $2.91B | $3.14B | $2.82B | $2.68B | $2.08B |
| Liabilities | |||||||||
| Accounts payable | $52.3M | $55.1M | $119.5M | $119.5M | $44.8M | $33.5M | $17.8M | $13.7M | $24.2M |
| Short-term debt | — | — | $120.5M | $151.4M | — | — | — | $576,000 | — |
| Deferred revenue | — | — | −$374.1M | −$151.4M | — | — | — | — | — |
| Total current liabilities | $239.1M | $177.7M | $175.4M | $175.4M | $79.2M | $47.2M | $25.1M | $19.3M | $28.5M |
| Long-term debt | $96.8M | $117.9M | $120.5M | $52.1M | $65.7M | $180.1M | $0 | $0 | $0 |
| Other long-term liabilities | $1.6M | $3.7M | $13.7M | $82.0M | $86.9M | $14.1M | $257.7M | $421.8M | $662.4M |
| Total liabilities | $337.5M | $299.3M | $309.6M | $309.6M | $231.8M | $241.4M | $282.8M | $441.1M | $690.9M |
| Shareholders' equity | |||||||||
| Common stock & paid-in capital | $14,000 | $8,000 | $3,000 | $3,000 | $2,000 | $718.6M | $624.9M | $564.0M | $420.2M |
| Retained earnings (deficit) | −$2.10B | −$2.01B | −$2.06B | −$2.06B | −$15.2M | −$1,497 | — | −$99.7M | −$99.7M |
| Accumulated other comprehensive income | $52,000 | −$2,000 | −$19.8M | −$19.8M | $9.9M | −$1.3M | — | $0 | $254,904 |
| Minority interest | $115.3M | $222.6M | $293.3M | $1.09B | — | — | — | — | — |
| Total shareholders' equity | −$214.0M | −$167.0M | −$234.3M | −$234.3M | $2.68B | $1.44B | $621.5M | $564.0M | $320.5M |
| Key figures | |||||||||
| Total debt | $96.8M | $117.9M | $130.2M | $130.2M | $151.4M | $171.6M | $256.3M | $322.4M | $378.1M |
| Net cash (debt) | −$94.2M | −$116.5M | −$122.3M | −$122.3M | −$142.7M | −$101.0M | −$243.8M | −$304.8M | −$374.6M |
| Working capital | −$236.6M | −$131.1M | −$157.6M | −$157.6M | −$50.9M | $37.8M | $2.9M | $259.8M | $12.6M |
| Tangible book value | −$233.8M | −$180.0M | −$251.1M | −$251.1M | $307.9M | −$935.4M | −$1.75B | −$1.80B | −$1.21B |
| Book value per share | — | — | −$74.54 | — | — | — | — | $12.52 | $6.38 |
| Shares outstanding | — | — | 3.1M | — | — | — | — | 45.0M | 50.2M |
| Current ratio | 0.01 | 0.26 | 0.10 | 0.10 | 0.36 | 1.80 | 1.11 | 14.46 | 1.44 |
| Quick ratio | 0.03 | 0.25 | 0.08 | 0.14 | 0.19 | 1.64 | 1.66 | 2.42 | 0.96 |
| Debt / equity | — | — | — | — | 0.06 | 0.12 | 0.41 | 0.57 | 1.18 |
| Equity / assets | −89.6% | −47.1% | −63.6% | −63.6% | 92.0% | 45.7% | 22.1% | 21.1% | 15.4% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $5.6M | $2.5M | $7.9M | $6.7M | $1.3M | $1.3M | $4.1M | $4.5M | $4.4M | $7.9M | $4.5M | $4.4M |
| Cash & equivalents | $5.6M | $2.5M | $7.9M | $4.9M | $1.3M | $1.3M | $4.1M | $4.5M | $4.4M | $7.9M | $4.5M | $4.4M |
| Short-term investments | $2.0M | — | $1.7M | $1.8M | — | — | $302.9M | $303.4M | $300.3M | — | $378.4M | $366.4M |
| Receivables | $0 | $4.3M | $502,000 | $0 | $42.9M | $0 | $0 | $0 | $5.8M | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $0 | $0 | $0 | $0 | $2.4M | $45.2M | $52,000 | $314,000 | $0 | $9.9M | $314,000 | $314,000 |
| Total current assets | $5.6M | $2.5M | $7.9M | $4.9M | $46.6M | $46.6M | $4.2M | $4.8M | $4.7M | $17.8M | $4.8M | $4.7M |
| Property, plant & equipment (net) | $0 | $1.1M | $0 | $0 | $1.7M | $1.7M | $0 | $0 | $2.3M | $2.3M | $0 | $0 |
| Goodwill & intangible assets | $9.9M | $19.8M | $13.0M | $13.0M | $13.0M | $13.0M | $13.0M | $13.0M | $13.3M | $16.7M | $13.0M | $13.3M |
| Long-term investments | $210.4M | $195.5M | $204.0M | $242.2M | $0 | $291.4M | $26.9M | $26.7M | $26.9M | $329.1M | $378.4M | $457.8M |
| Other non-current assets | $25.0M | $19.8M | $112.9M | $56.1M | $293.6M | $2.2M | $355.9M | $324.2M | $314.0M | $2.5M | $0 | $0 |
| Total assets | $250.9M | $238.8M | $337.9M | $316.2M | $354.9M | $354.9M | $400.0M | $368.8M | $361.3M | $368.5M | $368.8M | $361.3M |
| Liabilities | ||||||||||||
| Accounts payable | $61.2M | $52.3M | $224.9M | $124.2M | $55.1M | $100.3M | $98.3M | $66.1M | $61.0M | $157.2M | $66.1M | $61.0M |
| Short-term debt | — | — | — | $108.4M | — | — | — | — | — | — | — | — |
| Total current liabilities | $61.2M | $239.1M | $270.2M | $258.3M | $177.7M | $177.7M | $149.2M | $112.5M | $103.0M | $185.1M | $112.5M | $103.0M |
| Long-term debt | $96.8M | $96.8M | $100.3M | $104.0M | $0 | $117.9M | $122.9M | $124.1M | $120.6M | $120.5M | $0 | $48.7M |
| Other long-term liabilities | $186.5M | $1.6M | $5.4M | $6.2M | $121.6M | $3.7M | $23.1M | $19.9M | $35.0M | $3.9M | $144.0M | $106.9M |
| Total liabilities | $344.5M | $337.5M | $375.9M | $368.5M | $299.3M | $299.3M | $295.2M | $256.5M | $258.5M | $309.6M | $256.5M | $258.5M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $15,000 | $14,000 | $14,000 | $9,000 | $8,000 | — | $8,000 | $5,000 | $4,000 | — | $5,000 | $4,000 |
| Retained earnings (deficit) | −$2.10B | −$2.10B | −$2.06B | −$2.08B | −$2.01B | −$2.01B | −$2.01B | −$2.00B | −$2.01B | −$2.06B | −$2.00B | −$2.01B |
| Accumulated other comprehensive income | $507,000 | $52,000 | $52,000 | $90,000 | −$2,000 | — | $161,000 | $280,999 | −$19.8M | — | $280,999 | −$19.8M |
| Minority interest | $116.8M | $115.3M | $141.7M | $170.6M | — | — | — | — | — | — | — | — |
| Total shareholders' equity | $90.5M | −$214.0M | −$179.7M | −$222.9M | −$167.0M | −$167.0M | −$166.6M | −$165.3M | −$182.6M | −$234.3M | −$165.3M | −$182.6M |
| Key figures | ||||||||||||
| Total debt | $96.8M | $96.8M | $100.3M | $104.0M | $117.9M | $117.9M | $122.9M | $124.1M | $120.6M | $120.5M | $124.1M | $120.6M |
| Net cash (debt) | −$91.2M | −$94.2M | −$92.5M | −$97.3M | −$116.5M | −$116.5M | −$118.8M | −$119.6M | −$116.2M | −$112.6M | −$119.6M | −$116.2M |
| Working capital | −$55.6M | −$236.6M | −$262.3M | −$253.4M | −$131.1M | −$131.1M | −$145.0M | −$107.7M | −$98.3M | −$167.3M | −$107.7M | −$98.3M |
| Tangible book value | $80.6M | −$233.8M | −$192.7M | −$235.9M | −$180.0M | −$180.0M | −$179.7M | −$178.3M | −$195.9M | −$251.1M | −$178.3M | −$195.9M |
| Book value per share | $5.56 | — | −$10.74 | — | −$19.46 | — | −$25.46 | −$37.90 | — | −$65.49 | −$48.25 | −$56.86 |
| Shares outstanding | 16.3M | — | 16.7M | — | 8.6M | — | 6.5M | 4.4M | — | 3.6M | 3.4M | 3.2M |
| Current ratio | 0.09 | 0.01 | 0.03 | 0.02 | 0.26 | 0.26 | 0.03 | 0.04 | 0.05 | 0.10 | 0.04 | 0.05 |
| Quick ratio | 0.09 | 0.03 | 0.03 | 0.03 | 0.25 | 0.01 | 0.03 | 0.04 | 0.10 | 0.04 | 0.04 | 0.04 |
| Debt / equity | 1.07 | — | — | — | — | — | — | — | — | — | — | — |
| Equity / assets | 36.1% | −89.6% | −53.2% | −70.5% | −47.1% | −47.1% | −41.7% | −44.8% | −50.5% | −63.6% | −44.8% | −50.5% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed June 30, 2026); data from EODHD.
BENF financial position
At the end of fiscal 2026 (March 31, 2026), Beneficient had total assets of $238.8 million (down 32.7% from a year earlier), total liabilities of $337.5 million and shareholders' equity of -$214.0 million. It held $2.5 million in cash and short-term investments against $96.8 million of debt, net debt of $94.2 million. Its current ratio was 0.01. In the latest quarter (ended June 30, 2026) total assets were $250.9 million and equity $90.5 million.
Related: BENF income statement, BENF cash flow statement, BENF key metrics. See the BENF stock overview for the latest quote and news.
BENF balance sheet FAQ
What are Beneficient's total assets?
Beneficient reported total assets of $238.8 million at the end of fiscal 2026 (March 31, 2026), compared with $354.9 million a year earlier.
How much debt does Beneficient have?
Beneficient had $96.8 million of total debt at the end of fiscal 2026, including short-term borrowings. Its debt-to-equity ratio was —.
How much cash does Beneficient have?
Beneficient held $2.5 million in cash and short-term investments at the end of fiscal 2026; with $96.8 million of debt that is net debt of $94.2 million.
What is Beneficient's book value?
Beneficient's shareholders' equity (book value) was -$214.0 million at the end of fiscal 2026.
What is Beneficient's current ratio?
Beneficient had current assets of $2.5 million and current liabilities of $239.1 million, a current ratio of 0.01 (current liabilities exceed current assets).
How much goodwill does Beneficient have?
Beneficient carried $19.8 million of goodwill and intangible assets, 8.3% of total assets, at the end of fiscal 2026.