United States Brent Oil Fund (BNO) Price to FCF (2012 - 2026)
United States Brent Oil Fund's (BNO) quarterly Price to FCF came in at 3.98 in Q2 2026, down 136.64% on a YoY basis from 10.87 in Q2 2025, and down 289.03% quarter-over-quarter from 2.11 in Q1 2026.
Analysis
United States Brent Oil Fund (BNO) Price to FCF (2012 - 2026) Analysis & Trends
United States Brent Oil Fund (BNO) has reported Price to FCF for 15 consecutive years, with 3.98 the latest figure, recorded in Q2 2026.
- For the quarter ending Q2 2026, Price to FCF fell 136.64% year-over-year to 3.98; the trailing twelve-month figure through Jun 2026 stood at 48.76 (down 148.2% YoY), and the FY2025 full-year result was 24.94, down 220.13% from the prior year.
- Price to FCF slipped to 3.98 in Q2 2026 per BNO's latest filing, from 2.11 in the prior quarter.
- Across five years, Price to FCF topped out at 132.17 in Q2 2024 and bottomed at 15.78 in Q3 2025.
- Historically, Price to FCF has averaged 9.88 across 5 years, with a median of 2.38 in 2022.
- The sharpest annual moves came in 2023 and 2024: Price to FCF plunged 596.42% in 2023, then soared 721.97% in 2024.
- Over 5 years, Price to FCF stood at 11.35 in 2022, then increased by 29.0% to 8.06 in 2023, then jumped by 395.3% to 23.81 in 2024, then sank by 141.45% to 9.87 in 2025, then surged by 59.64% to 3.98 in 2026.
- According to Business Quant data, Price to FCF over the past three periods registered 3.98, 2.11, and 9.87 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
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -3.98 |
| Mar 31, 2026 | 2.11 |
| Dec 31, 2025 | -9.87 |
| Sep 30, 2025 | -15.78 |
| Jun 30, 2025 | 10.87 |
| Mar 31, 2025 | 44.57 |
| Dec 31, 2024 | 23.81 |
| Sep 30, 2024 | -10.04 |
| Jun 30, 2024 | 132.17 |
| Mar 31, 2024 | 7.88 |
| Dec 31, 2023 | -8.06 |
| Sep 30, 2023 | 4.28 |
| Jun 30, 2023 | 16.08 |
| Mar 31, 2023 | -13.15 |
| Dec 31, 2022 | -11.35 |
| Sep 30, 2022 | -6.87 |
| Jun 30, 2022 | 12.62 |
| Mar 31, 2022 | 2.65 |
| Dec 31, 2021 | -157.26 |
| Sep 30, 2021 | 31.19 |