Latest Ratios: P/E Ratio 60.0x · EV/EBITDA N/A · ROE 89.3%. (2018–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $2.0B | $165M | $17M | $271M | — | — | — | — | — |
| Enterprise Value | $2.2B | $282M | $139M | $394M | — | — | — | — | — |
| P/E Ratio → | 60.00 | 4.85 | — | 71.19 | — | — | — | — | — |
| P/S Ratio | — | — | — | — | — | — | — | — | — |
| P/B Ratio | 36.81 | 2.97 | 0.29 | 4.61 | — | — | — | — | — |
| P/FCF | — | — | — | — | — | — | — | — | — |
| P/OCF | — | — | — | — | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | — | — | — | — | — | — | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 312.1% | 312.1% | 165.8% | 143.4% | 143.4% | 79.6% | 100.0% | 95.4% | 81.4% |
| Operating Margin | 304.4% | 304.4% | 2677.8% | 241.1% | 241.1% | -46.5% | -224.5% | 52.1% | 61.2% |
| Net Profit Margin | -644.0% | -644.0% | 2118.8% | 124.8% | 124.8% | -56.9% | -554.0% | -6.3% | -22.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| ROE | 89.3% | 89.3% | -3555.9% | -8.9% | -9.6% | -2.1% | -14.0% | -0.3% | -0.6% |
| ROA | 14.1% | 14.1% | -568.7% | -7.5% | -8.0% | -1.9% | -12.2% | -0.2% | -0.4% |
| ROIC | -10.0% | -10.0% | -1050.0% | -11.6% | -12.6% | -1.2% | -3.8% | 1.4% | 1.0% |
| ROCE | -13.1% | -13.1% | -1371.6% | -15.4% | -16.7% | -1.6% | -5.0% | 1.8% | 1.2% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 2.12 | 2.12 | 2.21 | 2.21 | 0.06 | 0.06 | 0.10 | 0.14 | 0.27 |
| Debt / EBITDA | — | — | — | — | — | — | — | 7.74 | 13.62 |
| Net Debt / Equity | — | 2.10 | 2.08 | 2.08 | 0.05 | 0.03 | 0.10 | 0.14 | 0.27 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | 7.31 | 13.49 |
| Debt / FCF | — | — | — | — | — | — | — | 17.48 | — |
| Interest Coverage | -2.49 | -2.49 | -150.34 | -15.36 | -16.36 | -0.46 | — | — | — |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.26 | 0.26 | 0.10 | 0.10 | 0.36 | 1.80 | 1.11 | 14.46 | 1.44 |
| Quick Ratio | 0.26 | 0.26 | 0.10 | 0.10 | 0.36 | 1.80 | 1.11 | 14.46 | 1.44 |
| Cash Ratio | 0.01 | 0.01 | 0.05 | 0.05 | 0.11 | 1.50 | 0.50 | 0.91 | 0.12 |
| Asset Turnover | — | -0.02 | -0.27 | -0.28 | -0.04 | 0.03 | 0.02 | 0.03 | 0.02 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 1.7% | 20.6% | — | 1.4% | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | — | — | — | — | — | — | — | — |
| Total Shareholder Yield | 0.0% | — | — | — | — | — | — | — | — |
| Shares Outstanding | — | $529M | $3M | $325378 | $0 | $572596 | $572596 | $45M | $50M |
Insolvency and liquidity risk
As reported in financial statements, Beneficient's P/B ratio of 35.19 suggests an extreme valuation premium that appears disconnected from the company's negative equity base, warranting significant caution for investors attempting to apply traditional valuation multiples to this highly speculative and volatile financial services business model.
The absence of meaningful P/E or EV/EBITDA metrics for most periods highlights the difficulty in valuing a firm where mark-to-market volatility renders standard earnings-based multiples largely irrelevant. Investors should monitor whether the current valuation reflects speculative hope for platform adoption or a fundamental misunderstanding of the firm's underlying asset impairment risks.
Based on historical data, the company's ROIC has frequently dipped into negative territory, including a -138.8% reading in 2024Q2, which indicates that the firm is currently destroying rather than compounding capital as it struggles to generate returns that exceed its cost of funding and regulatory overhead.
The erratic nature of these returns suggests that the business model is not yet achieving the scale or operational efficiency required to generate sustainable value. The persistent inability to maintain positive returns on invested capital implies that the current fiduciary-based liquidity strategy may be structurally unsuited to the firm's high fixed-cost base.
According to recent quarterly filings, the current ratio has consistently hovered near zero, reaching as low as 0.02 in 2026Q2, which indicates an extremely precarious liquidity position that leaves the firm with virtually no margin for error in meeting its short-term debt and operational obligations.
This lack of liquidity suggests that the company is highly dependent on continuous external financing or asset monetization to remain a going concern. Investors should monitor the firm's ability to maintain its TEFFI-regulated operations without a more robust cash cushion to absorb potential market-driven valuation shocks.
As indicated by the reported gross margin of 312% in certain periods, analysts often misapply traditional margin metrics to Beneficient, failing to recognize that these figures are accounting artifacts resulting from negative revenue rather than genuine operational efficiency or superior pricing power in the secondary market.
Using gross margin as a proxy for profitability in this context is misleading because it ignores the underlying mark-to-market volatility of the asset portfolio. A more appropriate metric for this business model would be a fee-based revenue margin that excludes unrealized gains and losses, providing a clearer view of the platform's actual service-based earning power.
Includes 30+ ratios · 8 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying BENF stock.
Beneficient's current P/E ratio is 60.0x. The historical average is 38.0x. This places it at the 50th percentile of its historical range.
Beneficient's return on equity (ROE) is 89.3%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 7.7%.
Based on historical data, Beneficient is trading at a P/E of 60.0x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Beneficient has 312.1% gross margin and 304.4% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.