# Beneficient (BENF) · Edgar & Edgarette company card

> Beneficient (BENF) grew revenue 393% in FY2026 to $-39 million, operating margin 426% against a -6.4% median for finance services, equity -79.3% of assets. Every figure is from the company’s own annual report filed with the SEC.

SEC CIK 1775734 · fiscal year ended 2026-03-31 · 5 audited years read · [page](https://www.pops4.com/boards/company/BENF) · [JSON](https://www.pops4.com/boards/company/BENF.json)

## Figures, as filed in the 10-K

| Measure | Value |
|---|---|
| Revenue | −$39M |
| Revenue growth, 1 year | 392.6% |
| Revenue growth per year | — |
| Operating margin | 425.6% (prior year 304.5%) |
| Net margin | 421.0% |
| Operating cash flow | −$39M |
| Capital spending | $96,000 |
| Free cash flow | −$39M |
| Cash | $3M |
| Long-term debt | — |
| Total assets | $239M |
| Total equity | −$189M |
| Equity ÷ assets | -79.3% |
| Return on equity | — |
| Dividend per share | — |
| Dividend years rising | — |

## Readings, computed from those figures

- Piotroski F: 2 of 9 (2 of 6 tested)
- Health Harbor boat: Old boat · three warning signs · filed late annual report notice in the last 12 months; liabilities exceed assets (often from years of share buybacks, not always distress); operating cash flow was negative (-$38.7M in FY2026)

## Edgarette's reading

Exposure: revenue -$39.1M (FY2026). Experience: revenue up 392.6% on the year; operating margin 425.6%, up from 304.5%. Soundness: equity -79.3% of assets (liabilities exceed assets). Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between -$141.4M and -$254.0M next year (method v3, set from 749 SEC company-years; on a year the method never saw, 83% landed inside). A statistical range, not company guidance. Against peers (36 filers, $50M+ revenue, finance services): operating margin 425.6% against a -6.4% median; growth 392.6% against 16.8%.

Range logged 2026-09-20, receipt a1b12c7ea073ab2a, status open. A statistical range, not company guidance.

## Health Watch, last 12 months

- Item NT 10-K Late annual report notice: 1, latest 2026-06-30 ([filing](https://www.sec.gov/Archives/edgar/data/1775734/000149315226031173/0001493152-26-031173-index.htm))
- Item 5.02 Director or officer change: 2, latest 2026-03-30 ([filing](https://www.sec.gov/Archives/edgar/data/1775734/000149315226013672/0001493152-26-013672-index.htm))

## Recent filings

- 8-K · filed 2026-10-28 · 7.01 Regulation FD Disclosure; 8.01 Other Events; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1775734/000149315226048820/0001493152-26-048820-index.htm)
- DEF 14A · filed 2026-10-19 · [filing](https://www.sec.gov/Archives/edgar/data/1775734/000149315226047483/0001493152-26-047483-index.htm)
- 8-K · filed 2026-10-14 · 1.01 Entry into a Material Definitive Agreement; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1775734/000149315226047018/0001493152-26-047018-index.htm)
- 8-K · filed 2026-09-23 · 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1775734/000149315226043806/0001493152-26-043806-index.htm)
- 8-K · filed 2026-09-18 · 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1775734/000149315226043234/0001493152-26-043234-index.htm)
- 8-K · filed 2026-09-16 · 3.02 Unregistered Sales of Equity Securities · [filing](https://www.sec.gov/Archives/edgar/data/1775734/000149315226042821/0001493152-26-042821-index.htm)

## Sources

- facts: https://data.sec.gov/api/xbrl/companyfacts/CIK0001775734.json
- filings: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1775734

## Cite

POPS4, Edgar & Edgarette: Beneficient (BENF) company card, from the company's own SEC filings, accessed 2026-11-04, https://www.pops4.com/boards/company/BENF. CC BY 4.0. For a figure, add the filing URL under filings or sources.

DOI https://doi.org/10.5281/zenodo.23672509 · catalog https://www.pops4.com/boards/catalog.json · Figures as filed with the SEC. Card text CC BY 4.0, POPS4.

Reporting, not investment advice. No price targets and no trading recommendations.

Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.