Beneficient (BENF) AI Stock Analysis

• Market Cap: $50.32M
• Dividend Yield: N/A
• Average Volume (3M): 23.74M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.31
• Revenue Growth: -33.98%
• EPS Growth: 94.83%
• Country: US
• Employees: 80
• Sector: Financial
• Sector Strength: 70
• Industry: Asset Management
• EPS (TTM): 0.04
• Shares Outstanding: 14,183,822
• 10 Day Avg. Volume: 1,028,732
• 30 Day Avg. Volume: 23,735,752
• PEG Ratio: >-0.01
• Price to Book (P/B): -0.01
• Price to Sales (P/S): -0.23
• P/FCF Ratio: -0.05
• Enterprise Value/Market Cap: -0.07
• Enterprise Value/Revenue: 0.25
• Enterprise Value/Gross Profit: 0.17
• Enterprise Value/Ebitda: 0.05
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): -24.15
• Revenue Forecast (FY): $47.74M

• Rating: 42 Neutral
• Price Target: $3.50 ▼(-31.77% Downside)
• Action: Reiterated Date: 03/12/26
• Date: Action: Reiterated 03/12/26

BENF scores low primarily due to very weak financial performance (steep revenue decline, ongoing losses, and persistent cash burn) and a bearish technical setup (price below key moving averages with negative MACD). Earnings-call commentary shows some stabilization actions (compliance, cost cuts, select financings and paydowns), but significant losses and legal/balance-sheet uncertainty remain key risks, while valuation support is unclear given the provided P/E and missing dividend yield.

Positive Factors

Diversified collateral backing loan portfolio

A broadly diversified collateral base spanning ~150 funds and ~430 underlying investments reduces single-manager and sector concentration for the loan book. This structural collateral diversification supports loan recoverability, underwriting resilience and the franchise’s ability to withstand shocks in any one fund or sector over the coming months.

Regained Nasdaq compliance

Restoring Nasdaq compliance removes a structural listing overhang and preserves access to equity capital and public-market credibility. That improves the company’s ability to pursue strategic financings, execute share-based solutions (like convertible preferreds) and maintain counterparty confidence over the medium term.

Sustained expense reductions

Meaningful, sustained cost reductions materially lower the company’s cash burn and extend runway while mgmt re-scales core liquidity and GP primary financing operations. If maintained, tighter cost structure increases the chance that incremental revenue will flow to earnings as the business stabilizes.

Negative Factors

Sharp revenue decline & negative profitability

A near-50% TTM revenue decline and persistent operating losses indicate structural demand or execution issues in core liquidity and custody services. Prolonged revenue contraction undermines scale economics, makes margin recovery more difficult, and limits internal funding for product development and client acquisition over the coming months.

Persistent negative cash flow

Ongoing negative operating and free cash flow forces reliance on asset sales, liability actions or new capital to fund operations. This structural cash burn increases refinancing risk, constrains investments in the AI platform and business growth, and elevates the probability of dilutive financings if losses persist.

Legal & related‑party debt overhang

Substantial debt tied to former-CEO entities and active litigation represent a structural balance-sheet and governance risk. Potential indemnities, litigation outcomes or contested claims could materially alter reported leverage and equity, divert management resources and impede capital-raising or partnership activity for months.

Beneficient Business Overview & Revenue Model

Company Description

Beneficient, a technology-enabled financial service company, provides liquidity solutions to participants in the alternative asset industry. It operates AltAccess platform, which provides liquidity, custody, and investment analytics solutions, including AltLiquidity, an online tool that helps to find liquidity solutions for its alternative assets on a cybersecure platform; AltQuote, a quote tool for alternative assets; AltAccess, a secure platform for end-to-end alternative asset transactions; AltCustody to digitize and track its alternative assets; AltData, an investment analytics for its alternative asset data in one place; and AltTrading, a trading solution. The company serves mid-to-high net worth individual investors, small-to-midsize institutional investors, family offices, and fund general partners. The company is based in Dallas, Texas.

How the Company Makes Money

Beneficient generates revenue through several key streams, including fees from asset management, transaction facilitation, and advisory services. The company charges management fees for overseeing alternative investment portfolios and performance fees based on the returns generated for clients. Additionally, Beneficient earns revenue by providing liquidity solutions, which may involve facilitating the sale or financing of illiquid assets. Strategic partnerships with financial institutions and investment firms further enhance their service offerings and revenue potential, allowing them to tap into a broader client base and leverage complementary services.

Beneficient Financial Statement Overview

Summary

Financials reflect significant operating stress: TTM revenue down ~49%, deeply negative profitability (negative gross profit/EBIT/EBITDA/net income), and persistent negative operating cash flow/free cash flow. The main offset is the improved TTM balance sheet position cited (no debt and positive equity), but large historical equity swings and ongoing cash burn keep funding/execution risk elevated.

Income Statement

TTM (Trailing-Twelve-Months) results show a sharp revenue decline (down ~49%) and deeply negative profitability (negative gross profit, EBIT, EBITDA, and net income). While some reported margin figures appear mechanically high due to negative revenue, the underlying picture is clear: the business is not generating positive operating earnings, and the earnings profile has been volatile across periods (including a one-off profit in the 2025 annual report against losses in other years).

Balance Sheet

Balance sheet quality is mixed. On the positive side, TTM (Trailing-Twelve-Months) shows no debt and positive equity, which materially reduces financial risk versus prior annual periods that carried meaningful debt and even negative equity. However, the large swing from negative equity (2023–2025 annual) to positive equity in TTM suggests capital structure instability and potential reliance on revaluations or corporate actions, which investors should treat with caution.

Cash Flow

Cash generation remains weak: TTM (Trailing-Twelve-Months) operating cash flow and free cash flow are both meaningfully negative, and this pattern is consistent across the annual periods provided. Even where free cash flow tracks net income mathematically in some periods, the company is still burning cash, which raises funding risk if losses persist.

Breakdown	TTM	Jun 2025	Jun 2024	Mar 2023	Dec 2020	Dec 2019
Income Statement
Total Revenue	-14.86M	-7.95M	-98.91M	-104.99M	101.98M	60.29M
Gross Profit	-22.07M	-24.80M	-164.04M	-150.52M	81.20M	60.29M
EBITDA	-76.83M	-35.40M	-2.64B	-234.09M	-13.81M	-135.05M
Net Income	-49.57M	51.16M	-2.10B	-130.98M	-58.04M	-334.04M
Balance Sheet
Total Assets	337.86M	354.88M	368.50M	368.50M	3.14B	2.82B
Cash, Cash Equivalents and Short-Term Investments	7.87M	1.35M	7.91M	7.91M	70.59M	12.49M
Total Debt	0.00	117.90M	130.25M	130.25M	171.59M	256.34M
Total Liabilities	375.90M	299.27M	309.57M	309.57M	241.43M	282.84M
Stockholders Equity	90.53M	-167.00M	-234.35M	-234.35M	1.44B	621.50M
Cash Flow
Free Cash Flow	-43.58M	-38.80M	-59.98M	-97.19M	-57.23M	-54.17M
Operating Cash Flow	-43.18M	-37.70M	-58.22M	-95.12M	-54.01M	-51.19M
Investing Cash Flow	69.97M	28.11M	44.06M	63.02M	-5.98M	70.44M
Financing Cash Flow	-23.12M	2.97M	12.59M	-34.46M	43.86M	-5.24M

Beneficient Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 5.13
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BENF, the sentiment is Negative. The current price of 5.13 is above the 20-day moving average (MA) of 4.00, above the 50-day MA of 4.51, and above the 200-day MA of 4.09, indicating a bearish trend. The MACD of -0.21 indicates Positive momentum. The RSI at 41.95 is Neutral, neither overbought nor oversold. The STOCH value of 29.43 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BENF.

Beneficient Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
MLCI	59 Neutral	$6.91M	-1.19	-25.88%	1.07%	66.65%	-1497.99%
BCG	57 Neutral	$33.37M	4.08	18.72%	―	-37.08%	―
CWD	46 Neutral	$9.32M	-0.28	-1438.14%	―	-62.09%	-99.89%
BENF	42 Neutral	$50.32M	―	―	―	-33.98%	94.83%
ATON	42 Neutral	$8.51M	-0.33	-925.11%	―	―	―
BTTC	34 Underperform	$12.93M	>-0.01	-109.09%	―	―	60.78%

Beneficient Corporate Events

Beneficient Restructures Credit Obligations and Adds New Director

On March 10, 2026, Beneficient amended its existing credit agreement with HH-BDH, an affiliate of newly appointed director Mack Hicks, to settle about $1.66 million of accrued interest, fees and expenses tied to a $27.5 million facility that had its principal repaid on January 12, 2026. The company agreed to satisfy part of the obligation through issuing 149,904 Class A shares valued at $572,588 and to defer $1,094,365 of cash payments to March 31 and September 30, 2026, a structure aimed at preserving near-term liquidity and financial flexibility.

Effective March 10, 2026, the board appointed Hicks, CEO of family office Hicks Holdings and a seasoned private equity investor, as a director pursuant to existing stockholder designation rights, further formalizing the influence of a major financing partner that holds significant equity and partnership interests in Beneficient and its subsidiaries. The company highlighted that Hicks’ middle-market deal experience and long-standing relationship with Beneficient are expected to support its push for disciplined growth and capital formation while formalizing governance around related-party financing arrangements.

On March 12, 2026, Beneficient publicly announced Hicks’ board appointment and the amended settlement terms, underscoring the dual significance of strengthening its governance bench and reshaping its capital obligations to better align with its short-term capital strategy. For stakeholders, the moves signal both continuity of the late chairman Tom Hicks’ legacy and an effort to balance insider-linked financing with enhanced liquidity management and long-term value creation goals.

The most recent analyst rating on (BENF) stock is a Hold with a $4.00 price target. To see the full list of analyst forecasts on Beneficient stock, see the BENF Stock Forecast page.

Beneficient Secures Final Court Approval of GWG Settlement

On January 21, 2026, Beneficient announced that the U.S. District Court for the Northern District of Texas had approved a previously disclosed settlement agreement resolving all GWG Holdings-related lawsuits in that court against the company, its subsidiaries and current and former directors and officers; this follows a March 10, 2025 binding settlement agreement and a June 2025 approval by the U.S. Bankruptcy Court for the Southern District of Texas. The settlement, which is to be paid within applicable insurance policy limits and involves no admission of fault or liability by Beneficient or any defendant, fully and finally resolves the GWG litigation against the Beneficient parties and enables the company, according to interim CEO James Silk, to refocus on executing its business strategy, although certain GWG-related claims remain outstanding against entities tied to the former CEO, for which Beneficient may have indemnification obligations.

The most recent analyst rating on (BENF) stock is a Hold with a $5.00 price target. To see the full list of analyst forecasts on Beneficient stock, see the BENF Stock Forecast page.

Beneficient Completes Early Loan Repayment, Strengthening Balance Sheet

On January 20, 2026, Beneficient announced it had repaid approximately $27.5 million in loans tied to a credit agreement originally entered into on October 19, 2023, with HH-BDH LLC (whose sole member is Hicks Holdings Operating, LLC) and a Texas state bank, fully satisfying all outstanding principal owed to the bank roughly ten months ahead of the loans’ original October 19, 2026 maturity date. While about $1.66 million in interest and fees remains payable to Hicks Holdings and has been deferred, the company emphasized that the early payoff eliminates its obligations to the bank under the credit agreement and will fully discharge its remaining commitments to Hicks Holdings once these outstanding amounts are settled, a move management framed as a significant milestone in strengthening the balance sheet, reducing leverage, and enhancing financial flexibility to pursue its strategic priorities and long-term value creation for shareholders.

The most recent analyst rating on (BENF) stock is a Hold with a $4.50 price target. To see the full list of analyst forecasts on Beneficient stock, see the BENF Stock Forecast page.

Beneficient expands GP primary capital with Cork & Vines

On January 5, 2026, Beneficient funded the closing of a primary capital transaction involving a limited partner interest in an investment fund with a net asset value of about $3 million, issuing 302,273 shares of its newly designated Series B-9 Resettable Convertible Preferred Stock in a private, unregistered offering. The Series B-9 preferred shares, authorized up to 302,273 shares and convertible into a maximum of 565,007 shares of Class A common stock at an initial but periodically reset conversion price, carry no voting rights, rank pari passu with common stock for dividends and liquidation alongside other designated preferred series, and are subject to ownership and exchange caps, as well as optional and mandatory conversion features tied to regulatory filings and resale eligibility. In a related January 8, 2026 announcement, the company detailed that roughly $3 million in stated value of its resettable convertible preferred stock was provided as primary capital to Cork & Vines Fund I, LP, a fund focused on premium experiential and luxury dining investments, marking a second GP Primary Capital transaction with this manager and increasing the collateral backing Beneficient’s ExAlt loan portfolio by about $3 million of alternative asset interests, thereby expanding its GP Primary Commitment Program and reinforcing its positioning as a provider of fundraising-linked primary capital solutions to general partners.

The most recent analyst rating on (BENF) stock is a Hold with a $5.00 price target. To see the full list of analyst forecasts on Beneficient stock, see the BENF Stock Forecast page.

Beneficient Regains Full Compliance With Nasdaq Listing Standards

On January 2, 2026, Beneficient received notification from a Nasdaq Hearings Panel that it had regained compliance with Nasdaq’s minimum bid price rule and the continued listing requirements for warrants, and the company disclosed on January 5, 2026, that it is now in full compliance with all Nasdaq Capital Market listing standards. The restored compliance removes an overhang related to its Nasdaq listing status and helps stabilize Beneficient’s market position as it continues to pursue its business model in alternative asset liquidity and services for underserved investors.

The most recent analyst rating on (BENF) stock is a Hold with a $5.00 price target. To see the full list of analyst forecasts on Beneficient stock, see the BENF Stock Forecast page.

Beneficient Appoints Peter T. Cangany Jr. as Chairman

Beneficient announced that its Board of Directors appointed Peter T. Cangany Jr. as Chairman of the Board, effective December 15, 2025. Mr. Cangany brings decades of leadership in financial services, corporate governance, and financial reporting, having previously served as a director of Beneficient since 2019 and held senior leadership positions at Ernst & Young LLP for nearly 40 years. His appointment is expected to bolster Beneficient’s strategic approach and long-term shareholder value creation.