Beneficient (BENF) Stock

Beneficient (BENF) is a Financials stock trading at $2.26 (as of 2026-08-21), with a market capitalization of $21.79M. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

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.

Understand Beneficient: how it makes money

Beneficient provides liquidity solutions for alternative asset participants through its AltAccess platform, combining liquidity tools, custody, and investment analytics, with income drivers that include base interest and custody-related distributions.

The profit model is structurally tied to how much alternative-asset liquidity is funded through its liquidity platform (net loan portfolio), and how much alternative-asset value is held in custody (custody assets), since the operating income drivers called out include base interest revenue and distributions received from assets in custody.

Revenue by segment (latest quarter)
Ben Liquidity$0.0B
Ben Custody$0.0B
Corporate and Other$0.0B

Business quality (Strong): Data is limited in the provided snapshot, with revenue shown as 0.0B while several revenue-related line items are small nonzero amounts, so investors should treat any segment mix conclusions cautiously. Operating margin of 21.1% is provided, but there is no segment gross margin or additional operating detail.

Bull case

  • Platform coverage across liquidity, custody, and analytics: AltAccess provides liquidity, custody, and investment analytics tools, including AltLiquidity, AltQuote, AltAccess for end-to-end transactions, and AltCustody to digitize and track alternative assets.
  • Operating profitability shown in the provided period: Operating margin for the period shown (2025-12-31) is 21.1%.
  • Operational scale indicators are present: The snapshot includes Preferred Liquidity Provider Program Committed Capital of 1.5 USD_B, BIN Liquidity Net Loan Portfolio of 0.26 USD_B, and Assets Held in Custody Net Asset Value of 0.23 USD_B.

Bear case

  • Custody fee revenue is shown as 0.0: The provided facts list Custody Fee Revenue as 0.0 USD_B and Ben Custody revenue as 0.0 USD_B, which limits what can be inferred about custody monetization from this dataset.
  • Reported segment revenue attribution appears small in the provided values: Ben Liquidity segment revenue attributable to Ben's equity holders is listed at 0.01 USD_B, while Ben Custody and Corporate and Other attributable amounts are listed at 0.0 USD_B, which suggests limited disclosed revenue contribution in this snapshot.
  • Revenue rounding and accounting line items create interpretation risk: Total revenue is provided as 0.0B, while some revenue-related candidates are nonzero (for example, adjusted revenue excluding derivative asset fair value adjustment and GAAP revenue). This creates uncertainty about scale when only this dataset is available.
Valuation — source: SEC EDGAR (first-party)
Price$2.26
Market Cap$21.79M
Price / Sales1.41
FCF Yield-178.7%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$-39.13M
Net Margin223.5%
Revenue Growth (YoY)-196.4%
FCF Growth (YoY)-62.4%
Valuation vs Sector & Industry
Sector P/E (Financials)15.1
Industry P/E (Banking)13.0
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderVANGUARD GROUP INC ($1.67M)
Institutional Holders Tracked10
Company
SectorFinancials
IndustryBanking
CEOJames G. Silk
Employees80
CountryUS
IPO Date2021-12-03

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BENF earnings history · BENF institutional & insider holders · BENF KPIs & operating metrics · BENF financials · BENF investor presentations & press releases · BENF SEC filings · BENF peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.