United States Brent Oil Fund BNO
NYSE BNO
$57.69 +1.58 (+2.82%)
As of: Sep 8, 2026 · 3:59 PM EDT

United States Brent Oil Fund (BNO) EV to FCF (2012 - 2026)

United States Brent Oil Fund's (BNO) quarterly EV to FCF came in at 1.56 in Q2 2026, down 165.45% on a YoY basis from 2.39 in Q2 2025, and up 50.46% quarter-over-quarter from 3.16 in Q1 2026.

Analysis

United States Brent Oil Fund (BNO) EV to FCF (2012 - 2026) Analysis & Trends

United States Brent Oil Fund (BNO) has reported EV to FCF for 15 consecutive years, with 1.56 the latest figure, recorded in Q2 2026.

  • For the quarter ending Q2 2026, EV to FCF fell 165.45% year-over-year to 1.56; the trailing twelve-month figure through Jun 2026 stood at 19.16 (down 186.11% YoY), and the FY2025 full-year result was 1.77, down 118.86% from the prior year.
  • EV to FCF improved to 1.56 in Q2 2026 per BNO's latest filing, from 3.16 in the prior quarter.
  • Across five years, EV to FCF topped out at 40.39 in Q2 2024 and bottomed at 6.98 in Q4 2022.
  • Historically, EV to FCF has averaged 3.34 across 5 years, with a median of 0.75 in 2022.
  • The sharpest annual moves came in 2022 and 2023: EV to FCF surged 1226.37% in 2022, then plunged 793.23% in 2023.
  • Over 5 years, EV to FCF stood at 6.98 in 2022, then soared by 33.62% to 4.63 in 2023, then soared by 332.2% to 10.75 in 2024, then sank by 106.51% to 0.7 in 2025, then tumbled by 123.6% to 1.56 in 2026.
  • According to Business Quant data, EV to FCF over the past three periods registered 1.56, 3.16, and 0.7 for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr)
1 BlackRock 169.89 Bn 156.02 Bn -
2 Spdr Gold Trust 144.81 Bn -413.20 Bn -
3 Ishares Gold Trust 30.30 Bn -29.81 Bn -
4 World Gold Trust 29.28 Bn -73.79 Bn -
5 Principal Financial 24.84 Bn -28.13 Bn 1.91 Bn
6 iShares Silver Trust 22.15 Bn -6.05 Bn -
7 Franklin Resources 17.84 Bn 14.12 Bn -
8 Invesco 14.63 Bn 13.72 Bn 1.79 Bn
9 Affiliated Managers 9.51 Bn 9.10 Bn -
10 United States Brent Oil Fund 920.37 Mn 525.94 Mn -
Historic Data

Historic Data

Download Data
DateValue
Jun 30, 2026 -1.56
Mar 31, 2026 -3.16
Dec 31, 2025 -0.70
Sep 30, 2025 -2.05
Jun 30, 2025 2.39
Mar 31, 2025 15.48
Dec 31, 2024 10.75
Sep 30, 2024 0.71
Jun 30, 2024 40.39
Mar 31, 2024 2.32
Dec 31, 2023 -4.63
Sep 30, 2023 1.21
Jun 30, 2023 8.01
Mar 31, 2023 -5.51
Dec 31, 2022 -6.98
Sep 30, 2022 -4.69
Jun 30, 2022 7.33
Mar 31, 2022 0.79
Dec 31, 2021 -89.94
Sep 30, 2021 12.97