On this page of Benford's Law Stocks.com we present our study of RAFAEL HOLDINGS INC. — ticker symbol RFL. SEC filings have been screened by our Benford's Law software, for quarterly 10Q and annual 10K filings from 3/17/2022 to 10/29/2025 for RAFAEL HOLDINGS INC. under CIK number 0001713863. For filings made in XBRL (eXtensible Business Reporting Language) format, our algorithm extracts all "tagged" numbers presented by the company; for any non-XBRL filings our algorithm uses its own interal set of rules to extract what it believes to be numbers as found throughout the filings. The format found for each filing is presented below together with the results for RFL, with the percentage of found numbers beginning with each digit (1's, 2's, 3's, 4's, 5's, 6's, 7's, 8's, and 9's) charted against the "normal" range observed throughout our coverage universe, as well as the "normal" range for RAFAEL HOLDINGS INC. based on the past RFL filings our system processed in the past.
28.8
20.8
14.5
7.0
7.4
6.5
5.3
4.4
5.1
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
XBRL?   [ original filing ]
Total numbers found: 1,263
Recent share count: 34,303,240 (3's column)

= Typical range across full coverage universe
Benford's Law Stocks Indicator
1263
High count compared to other filers, with RFL falling in the highest quartile of filers. At this number count, it would take about 13 numbers to move any given column by a full percentage point.
88

Starting from a possible score of 100, we made the following score deductions:
 • We deducted point upon observing the 2's percentage was above the typical coverage universe range.
 • We deducted point upon observing the 3's percentage was above the typical coverage universe range.
 • We deducted point upon observing the 4's percentage was below the typical coverage universe range.
 • We deducted point upon observing the 4's percentage was below the company's typical historical range.
 • The 5's percentage was higher than the 4's percentage, increasing the penalty multiplier.
 • The 9's percentage was higher than the 8's percentage, increasing the penalty multiplier.
 • This is the 2nd column with percentage higher than the prior column, resulting in a penalty deduction.
 • We deducted point (includes the impact of penalty multiplier) upon observing the 9's percentage was above the typical coverage universe range.
Benford's Law Stocks Indicator
RFL
Normal-to-high score compared to other filers, falling within the top of the middle 50%.
NGVC
ONTO
TR
TWO
NPK
PRA
THS
TTI
Check our work! We provide our RAFAEL HOLDINGS INC. Benford's Law analysis for informational purposes only, and our software should be expected to make mistakes and contain errors (nothing you see on this website should be relied upon for any decision-making without first repeating the analysis yourself independently), and so below we present to you all of the numbers our system detected, for the RFL filing above. This way, you can open the filing on your own and compare what you see below against what you yourself find. This can also be helpful for exploring any columns in particular that caught your eye.

1's 2's 3's
We found 364 numbers that start with the digit 1. Here they are:
1,045
1,206
1,596
1,399
12,010
1,858
1,146
19,939
1,847
1,575
114,109
1,798
113
1,700
11,600
138
15,738
10,574
101,487
168
168
111
114,109
197
174
112
108
106
154
13,781
12,823
102,627
1,996
1,633
178
1,772
1,191
118
123
128
1.04
1.45
101,487
168
123
135,386
14,621
14,692
19,531,268
195
101,487
168
167,333
1
135
136
1,151
1,151
12,667
12,667
1,849
101,487
101,487
168
168
19
101,487
168
178
1,772
1,891
1,633
1,191
18
165
151
150
139
11
112
146
10
138
15
18,924
143
13
16,988
155,657
153,352
17
19,500
1,000
1,989
1,099
1,256
10,820
136
168
179
153
18,823
14,692
100
100
100
100
100
100
100
1.293
11
11
12
17
1,087,100
14,692
12,998,194
112
1,041
1,040
1,464
19,939
1.293
1.0
1
11,324
1,769
126,267
1.4
1.0
1.25
12,998,194
12,998,194
1
1
15.5
15,739,661
1.5
1,546,391
10
1,500
121
19
1,188
1,289
15,336
12,667
12,667
15,336
1.8
100
100
16.7
12
10
10
10
12
10,000,000
1.25
1,179
1,798
10.5
100
1.0
15
15
15,975,000
1878
15,975,000
1878
15,975,000
16
16
13,771
150
1.0
1.6
1,499
1,151
1.7
173.75
1.25
1
16
178
1.8
1,858
1,858
1,858
1,858
10,746
10,746
1,264
1,264
1,146
1,146
14,713
10,148
10,148
1,338
1,264
19,500
1,313
122
1,000
146
1,858
10,148
1,012
1,018
1,596
146
137
19,939
19,939
19,939
19,939
1,575
1,575
1,040
1,040
1,885
1,812
15
1,935
1,847
130
130
130
130
130
142
1,058,902
1,246,949
123
1.04
1.45
140
108
12
17
1.28
1.28
16,386,020
14,020,427
142
19
160
17
165
14,213
18,871
1,360
1,739
1,807
140
1
1,043
1,045
16,910
141
1,008
137,422
128,403
199
138
107.3
11.6
100.9
107.3
11.6
100
1,045
16,983
197
197
112
112
106
106
13,165
13,781
12,568
12,823
177
174
174
108
108
154
154
142
165
102,032
102,627
102,032
102,627
1,996
1,633
178
1,772
1,191
118
1,275
1,596
111,954
114,109
1,337
10,000
1,000,000
1.1
100,000
1.75
101,487
168
112,501
1,919,025
153,879
1.86
1.98
1,652,111
14.94
1.50
10,000
16,872
10.00
14,625
10.00
10.00
16,228
10.00
106
1,004,341
11.00
12.50
11.00
10
1,087,100
1,087,100
1,058,902
12,407
184.41
14.19
17.73
1,058,902
18,336
15,024
151
120,019
100,000
111,408
135,000
101,402
159,016
118,596
1.97
1.99
1,962
166
181
188
173,965
We found 263 numbers that start with the digit 2. Here they are:
2,675
245
281
2,120
2,547
2,556
2,982
27
200,000,000
24,142,535
23,819,948
238
280,048
232,263
201,743
28
288
225
29,159
2,383
248
2,553
2,680
247
29,422,221
23,745,516
23,819,948
238
280,048
201,743
2,124
2,128
215
215
24,712
24,907
247
247
232,263
23,490,527
236
264,010
2,293
2,296
27,501
27,501
23,819,948
238
280,048
201,743
288
225
27
285
20
2,123
2,296
273
28
22
270
271
2,709
2,547
2,500
215
25,001
24,830
22
2,675
21,498
2,675
21,472
2,663
27,501
2,500
2,000
232
290
26
25
21
27
20
270
20,234,468
21,472
2.06
2.06
2.06
21.5
270
2,690
22
27
20
2,046
2.4
2,514,970
2,514,970
2.1
2,514,970
2,766,467
2.5
2
2
2
2
2
2
2.5
2
2
2.5
2.5
2.1
2,116,932
21.9
2,663
27,501
2,756
2,006
28
2,745
20
20,267
25
25
2
21.9
261,230
261,230
25
21.9
260
235
205
25
24
235
213
2,982
293
2,982
2.0
2.0
2.5
2.0
2.7
237
21.8
2.6
2.1
250
2
2
2.0
200
200
2,000
2,180
2,500
280
2.5
20
2
2
2
2,547
2,547
2,547
2,500
2,500
21,472
2,000
212
2
245
245
2,505
2,505
22
2,608
2,120
2,270,812
29,422,221
23,745,516
275
296
25.0
21.0
28
2,388
2,602
2,388
2,583
2,553
2,680
23,312
2,429
2,613
20,404
2,553
2,680
2.4
28.6
2.6
29,117
2,354
2,486
286
249
2,357
2,327
2,357
265.4
28
28
296
255
288
25,294
29,159
225
25,294
29,159
2,383
248
2,155
2,120
20,000
20,000
218,195
218,195
23,671.34
250
2,833,425
260,000
250,000
294,000
250,000
29,253
24.17
25
25
28,198
20,268
253,280
2.01
2.70
24
270,000
2.99
2.88
2,000
296
2,123
2,296
282
236
272
24,558
25,000
We found 183 numbers that start with the digit 3. Here they are:
38.6
3,050
31,575
34
35
3,304
3,895
35,000,000
322,161
358
3,787
3,691
3,980
355
3,050
37
31,305
310
33,196
30,643
30,593
30,520
34,410
30,643
30,300
30,595
30,172
33,997
3,802
30,520
30,643
31,875
360
360
30
30
322,161
3,980
3,372
3,664
34,410
30,593
3
3,082
37
3,802
30,643
3,050
37
31,305
30
35
360
37,845
34
37.5
37.5
31.6
38
38
3.1
3525
3.6
360
3,586
30,000
303
30,010
3
3,968,254
39.5
37
3
3
3
3
3
3
3,968,254
3
3
30.6
30,080,747
30.6
3,658,368
37,845
37.5
37.5
37.5
3,919,598
3.1
37.5
37.5
37.5
37.5
37.5
3.5
3,304
3,602
3,895
3.6
3.0
3.0
3.0
38
33
3.0
38
3.1
3,142
3,050
386
3,142
3.1
30
3,969
3,967
3
32
37
3,967
3,967
338
333
3,138
3.1
3,050
3,050
3,050
3,050
3,050
3,050
30,000
31,575
35
344
3,746,434
30,643
30,593
30,520
34,410
3,600
332
33
32,338
30
33,196
34
31.6
3,121
340
346
30
366.3
320
3,050
3,050
3,815
355
355
374
3,668
3,815
37
31,305
310
33,196
30
321
3,398
35.00
3,365,795
3,225,806
395,000
371,846
31.21
380,253
327,368
33,360
31,875
309
31
36
4's 5's 6's
We found 89 numbers that start with the digit 4. Here they are:
426
430
4,073
4,170
46
424
422
464
4,073
473,514
4
44
44
472
472
4,145
464
464
4,931
4,073
46
424
422
4
4,000
42
44,035
44
472
44,000
45
45
472
49,949
482
4,000,000
4,000,000
49
424
49.9
49.9
49.9
49.9
49.9
49.9
49.9
49.9
42,008
48
4,931
4.9
44.0
45
43
407
437
441
4,780
4.0
4
400
400
4,302
422
408
4,293
4,079
4,076
4,000
426
46
46
416,720
48
4,170
46
424
48,859
44.42
4.10
46,125
43,878
472,000
42.56
452,130
473,514
416,720
400
428,000
We found 94 numbers that start with the digit 5. Here they are:
50,983,641
52,769
515
5,191
56,714
5
50,789,697
508
515
5,144
53
5
5
50,789,697
508
506,826
56
56
53
53
5,144
515
5
50,094
52,769
5,751
500
582,000
50
58
52.8
50
51
50
5,208
551
59,786
53,841
59,273
5,000,000
5.1
5
5
5
5
5
5
5
5
5
5
50
50
50
51
50,000,000
571
53
5.0
500
5
589
5.01
5.19
500
52.9
55,252
55,222
59,298
59,298
5,191
5,191
59,298
500
552
50
59
51.3
51
5
51,546
515
515
515
50
502
50
5,144
5
5.0
5.84
5
500,000
5.75
We found 82 numbers that start with the digit 6. Here they are:
63,265
627
6,893
614
614
66
637
63
658
67,261
65,003
65,003
64,592
65,003
65,003
63
673
67
6,786
67
67
67
67
63
67
60,673,087
6,067,306
6
6
67
69,509
614
69,509
67
686
614
614
654
617
63
63,300
63,265
6,905
63
663
627
638,409
608,540
65,003
67,653
67,683
6,972
672
627
61,204
6,145
647
6,218
6,218
6,218
63
60
675
675
63
658
67,261
6.2
696,770
6
600,000
638,409
618,702
6.65
618,702
625,000
6
64,543
608,540
633,459
6
6.3
7's 8's 9's
We found 67 numbers that start with the digit 7. Here they are:
787,163
786
72,502
723
733
7,514
78
73
787,163
719
787,163
7,132,228
71
787,163
787,163
75,918
7,600
7,600
7,260
7,260
787,163
719
70
7,802
73
73
7,132,228
7,132,228
72
72
72
7
71
71
7.3
70
716
720
7.6
7.5
720
72
70
7,199
70,000,000
7,529
7
742
77
7,194
74
719
742
777
73
787,163
787,163
73
7
73,632
71,275
74.8
719
783
750,000
783
7.40
We found 56 numbers that start with the digit 8. Here they are:
8
8
82,185
86,258
8,854
89,861
8
86,258
8
8
869
8
86,258
81
89,861
818
80,694
800
84
877
8.699
835
8
89,861
89.9
8
814
8.5
80
8
84
8
800
84
84,159
81
81
88
88
858
85,847
853
8,958
87.1
80
8,338
8,854
89,861
89,861
80
80
852,168
852,168
87
84,918
86,983
We found 65 numbers that start with the digit 9. Here they are:
994
96,832
94,391
98,371
96,832
93
917
96
96
96
98,371
96,629
925
922
938
913
925
94
9,585
95
925,000
93
90
95
90
9,367
9.4
933
933
95
94
9
93
90
90
9.375
90
90
9
98
95
98
95
994
994
994
93
97
9,209
9,019
9,157
9,720
93
93
93,434
96,832
99,429
96,000
99.2
98.0
9.55
9
986,835
99,429
933
While the above RFL 10K Filed 10/29/2025 is interesting in isolation, we have found that it is also useful to take a look at older RAFAEL HOLDINGS INC. filings processed by our Benford's Law Stocks algorithm, to see how the company's filings "typically look" on a Benford's Law analysis. Below we repeat the 10K Filed 10/29/2025 but instead of the chart comparing against the typical company across our coverage universe, below we show the same chart compared against the typical RFL 10Q and 10K filings that we have processed historically. This is followed by similar charts for each of those historical filings.

28.8
20.8
14.5
7.0
7.4
6.5
5.3
4.4
5.1
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 88
XBRL?   [ original filing ]
Total numbers found: 1,263

= Typical RFL range from 3/17/2022 to 10/29/2025
24.4
20.8
13.8
8.9
7.8
6.2
6.3
5.0
6.8
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 81
XBRL?   [ original filing ]
Total numbers found: 966

= Typical RFL range from 3/17/2022 to 10/29/2025
27.5
21.4
11.6
9.7
7.0
6.6
5.2
5.4
5.7
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 89
XBRL?   [ original filing ]
Total numbers found: 1,062

= Typical RFL range from 3/17/2022 to 10/29/2025
26.7
20.4
14.7
9.3
6.9
6.2
6.6
5.2
4.0
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 98
XBRL?   [ original filing ]
Total numbers found: 1,309

= Typical RFL range from 3/17/2022 to 10/29/2025
25.4
22.6
12.9
8.3
6.3
8.0
5.9
5.4
5.3
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 88
XBRL?   [ original filing ]
Total numbers found: 1,156

= Typical RFL range from 3/17/2022 to 10/29/2025
34.0
13.8
7.0
7.9
10.2
5.8
7.5
6.9
6.8
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 45
XBRL?   [ original filing ]
Total numbers found: 795

= Typical RFL range from 3/17/2022 to 10/29/2025
25.0
21.4
12.5
8.4
8.4
7.4
6.3
5.3
5.3
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 98
XBRL?   [ original filing ]
Total numbers found: 1,245

= Typical RFL range from 3/17/2022 to 10/29/2025
27.3
20.3
12.9
9.2
5.9
7.3
5.9
5.3
5.8
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 86
XBRL?   [ original filing ]
Total numbers found: 1,237

= Typical RFL range from 3/17/2022 to 10/29/2025
 

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