Beneficient Valuation Multiples

Discover Beneficient's revenue and EBITDA valuation multiples and M&A history.

Beneficient Overview

About Beneficient

Beneficient is a technology-enabled financial services holding company that (together with its subsidiaries) provides simple, rapid, and cost-effective liquidity solutions to participants in the alternative asset industry through its end-to-end online platform, AltAccess. BCG’s products and services are designed to meet the unmet needs of mid-to-high net-worth individual investors, small-to-midsize institutional investors, family offices, and fund general partners. Its bespoke liquidity solutions for otherwise illiquid alternative asset investments are delivered through proprietary technology and a financing and trust structure. It has three reportable segments consisting of Ben Liquidity, Ben Custody and Customer ExAlt Trusts.


Founded

2023

HQ

United States

Employees

55

Financials (LTM)

Revenue: ($15M)
Net Income: ($54M)

EV

$130M

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Beneficient Financials

Beneficient reported last 12-month revenue of ($15M).

In the same LTM period, Beneficient generated had net loss of ($54M).


Beneficient P&L

In the most recent fiscal year, Beneficient reported revenue of ($39M) and EBITDA of ($145M).

Beneficient is unprofitable as of last fiscal year, with gross margin of 130%, EBITDA margin of 371%, and net margin of 223%.

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LTMLast FY202320242025202620272028
Revenue($15M)($39M)($100M)($31M)($31M)
Gross Profit-($51M)($161M)($60M)($44M)
Gross Margin-130%160%194%142%
EBITDA-($145M)($2B)($647M)($105M)
EBITDA Margin-371%2027%2109%334%
EBIT Margin232%209%225%329%244%
Net Profit($54M)($87M)($1.6B)($486M)($53M)
Net Margin357%223%1598%1582%168%
Net Debt-$94M---

Financial data powered by Morningstar, Inc.

Beneficient Stock Performance

Beneficient has current market cap of $36M, and enterprise value of $130M.


Beneficient's stock price is $2.48.

Beneficient has an EPS (earnings per share) of $-6.03.

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EVMarket CapPrice 1DPrice 1MPrice 3MPrice 12MEPS
$130M$36M6.9%---$-6.03

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Beneficient Valuation Multiples

Beneficient trades at (8.5x) EV/Revenue multiple, and (0.9x) EV/EBITDA.

See NTM and 2027E valuation multiples for Beneficient

Beneficient Financial Valuation Multiples

As of August 14, 2026, Beneficient has market cap of $36M and EV of $130M.

Beneficient has a P/E ratio of (0.7x).

LTMLast FY202320242025202620272028
EV/Revenue(8.5x)(3.3x)(1.3x)(4.2x)(4.2x)
EV/EBITDA-(0.9x)(0.1x)(0.2x)(1.2x)
EV/EBIT(3.7x)(1.6x)(0.6x)(1.3x)(1.7x)
EV/Gross Profit-(2.6x)(0.8x)(2.2x)(2.9x)
P/E(0.7x)(0.4x)(0.0x)(0.1x)(0.7x)
EV/FCF(5.3x)(3.4x)(1.9x)(3.0x)(3.4x)

Multiples above and below 250x are considered non-meaningful (n/m). Valuation data powered by FactSet, Inc. and Morningstar, Inc.

Verified Beneficient Valuation Multiples

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Beneficient Margins & Growth Rates

Beneficient decreased revenue by 205% and net profit by 101% in the last fiscal year.

In the most recent fiscal year, Beneficient reported gross margin of 130%, EBITDA margin of 371%, and net margin of 223%.

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Beneficient Margins

Last FY202420252026202720282029
Gross Margin130%194%142%(244%)
EBITDA Margin371%2109%334%(694%)
EBIT Margin209%329%244%(146%)
Net Margin223%1582%168%(101%)
FCF Margin99%144%124%(113%)

Beneficient Growth Rates

FY+1/FY23/2424/2525/2626/2727/2828/29
Revenue Growth(205%)(69%)2%(167%)
Gross Profit Growth-(63%)(25%)15%
EBITDA Growth-(68%)(84%)38%
EBIT Growth(83%)(55%)(24%)(60%)
Net Profit Growth(101%)(70%)(89%)(60%)
FCF Growth(52%)(36%)(12%)(39%)

Data powered by FactSet, Inc. and Morningstar, Inc.

Beneficient Operational KPIs

Beneficient's revenue per employee in the last FY averaged $-0.7M, while opex per employee averaged $0.6M for the same period.

Beneficient's Rule of 40 is (860%) (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Beneficient's Rule of X is (1110%) (created by Bessemer, Rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Last FY202320242025202620272028
Rule of 40(860%)---
Bessemer Rule of X(1110%)---
Revenue per Employee$-0.7M---
Opex per Employee$0.6M---
G&A Expenses to Revenue(61%)(39%)(96%)(79%)
Opex to Revenue(79%)(65%)(134%)(102%)

Data powered by FactSet, Inc. and Morningstar, Inc.

Valuation Multiples Across 230+ Verticals

Beneficient Competitors

EV/RevenueEV/EBITDA
Last FYLTM2027ELast FYLTM2027E

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Beneficient VC Funding History

Before going public, Beneficient raised $384M in total equity funding, across 1 round.


Beneficient Funding Rounds

DateStageInvestorsRaisedValuationRev. MultipleDeal Summary
Dec-21Undisclosed stage-$384M-Beneficient Company Group, L.P. (Ben) is a technology-enabled fiduciary financial institution providing liquidity, custody, and trustee management services for alternative assets to mid-to-high-net-worth individuals, small-to-mid-sized institutions, and sponsor firms. As of December 31, 2021, Ben's loan portfolio had a carrying value of over $520 million with exposure to over 330 professionally managed alternative investment funds comprising more than 1,300 underlying investments. In April 2022, Ben sold a $72.5 million loan participation collateralized by alternative asset funds to Prosperity Asset Management affiliates, representing part of over $245 million in newly issued loans. On December 7, 2021, Hatteras Master Fund, L.P. exchanged interests in Adviser Funds for Beneficient Preferred Series B-2 Unit Accounts and entered a Registration Rights Agreement with Beneficient. At the time the Hatteras liquidation plan was approved, Beneficient preferred shares were valued at $10 per share. Hatteras directors later admitted inadequate due diligence on Beneficient, linked to GWG which filed bankruptcy in 2022 amid losses and misconduct allegations against founder Brad Heppner under SEC investigation. Beneficient went public in June 2023 via merger with Avalon Acquisition Inc. SPAC, initially expected to value the company at $3.5 billion, converting Hatteras preferred shares to $8 per share of Beneficient Class A common stock, which later fell to about $0.08 per share.

Acquisitions by Beneficient

Beneficient has acquired 1 company to date.

Last acquisition by Beneficient was on December 5th 2024. Beneficient acquired Mercantile Bank International for $2M (EV/Revenue multiple available to Pro users).

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Latest Acquisitions by Beneficient

Mercantile Bank International
Description
Mercantile Bank International is a digital asset custodian and merchant bank providing trust accounts, money transfers, currency exchange, lending, and retirement services for cryptocurrencies. Headquartered in the Cayman Islands, it serves institutional clients with compliant storage for Bitcoin, Ethereum, and stablecoins across global jurisdictions.
HQ CountryUnited States
HQ City
-
Deal Date5 Dec 2024
Valuation$2M
EV/Revenue
EV/EBITDA

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About Beneficient

When was Beneficient founded?Beneficient was founded in 2023.
Where is Beneficient headquartered?Beneficient is headquartered in United States.
How many employees does Beneficient have?As of today, Beneficient has over 55 employees.
Is Beneficient publicly listed?Yes, Beneficient is a public company listed on Nasdaq.
What is the stock symbol of Beneficient?Beneficient trades under BENF ticker.
When did Beneficient go public?Beneficient went public in 2023.
Who are competitors of Beneficient?Beneficient main competitors include
What is the current market cap of Beneficient?Beneficient's current market cap is $36M.
What is the current revenue of Beneficient?Beneficient's last 12 months revenue is ($15M).
What is the current revenue growth of Beneficient?Beneficient revenue growth (NTM/LTM) is (368%).
What is the current EV/Revenue multiple of Beneficient?Current revenue multiple of Beneficient is (8.5x).
Is Beneficient profitable?No, Beneficient is not profitable.
What is the current net income of Beneficient?Beneficient's last 12 months net income is ($54M).
What is the current FCF of Beneficient?Beneficient's last 12 months FCF is ($25M).
What is Beneficient's FCF margin?Beneficient's last 12 months FCF margin is 162%.
What is the current EV/FCF multiple of Beneficient?Current FCF multiple of Beneficient is (5.3x).
How many companies Beneficient has acquired to date?As of August 2026, Beneficient has acquired 1 company.
What was the largest acquisition by Beneficient?$2M acquisition of Mercantile Bank International on 5th December 2024 was the largest M&A Beneficient has done to date.
What companies Beneficient acquired?Beneficient acquired Mercantile Bank International.
In how many companies Beneficient has invested to date?Beneficient hasn't invested in any companies yet (or none have been disclosed publicly).

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