BlueFin: Benchmarking LLM Agents on Financial Modeling

We present BlueFin, a benchmark that tasks large language model (LLM) agents with synthesis, manipulation, and interrogative comprehension over spreadsheet workbooks in the professional finance domain. Though estimates of the global population of paying users of spreadsheet software range in the hundreds of millions -- an order of magnitude more than the estimated global population of professional developers -- comparatively fewer resources have been devoted to exploring and expanding LLM capabilities in the spreadsheet domain, with fewer still dedicated to mirroring real occupational tasks encountered by those in professional finance roles. In response, we curate a set of 131 challenging, complex tasks with real-world relevance in the domain, containing 3,225 granular rubric criteria; notably, our rubric criteria and LM judge evaluations are validated by a team of expert human annotators, resulting in high-quality, granular evaluations of complex tasks that are difficult to verify programmatically but can be reliably evaluated by an LM judge agent. Our judge achieves parity with expert consensus ($\alpha=0.826$) with a macro-F1 score of 0.839. Frontier LLMs demonstrate poor performance on the challenging benchmark, with the strongest LLMs achieving less than 50\% average scores across tasks -- models exhibit particular weaknesses in dynamic correctness. Our contributions include a dataset of examples across three categories of spreadsheet tasks, an open source harness and agentic evaluation framework, and a characterization of existing frontier models' performance on our benchmark.