📊 BNO Key Takeaways
Investment Thesis
BNO is a commodity-linked fund generating negative returns with -$5.2M revenue and -$4.1M net loss in the latest period, reflecting severe operational underperformance. The fund exhibits weak cash flow generation with negative operating cash flow of -$3.7M despite holding $86.5M in liquid assets, indicating fundamental structural challenges. With inconsistent profitability metrics and deteriorating year-over-year performance (-138.6% net income decline), the fund demonstrates poor capital efficiency and value destruction.
BNO Strengths
- Strong liquidity position with $86.5M in cash equivalents representing 86% of total assets
- Minimal leverage with only $300.2K in liabilities providing financial stability
- Low financial risk profile with negligible debt obligations
BNO Risks
- Persistent negative revenue generation and operating losses indicating structural business challenges
- Negative operating cash flow of -$3.7M demonstrating inability to generate cash from core operations
- Severe deterioration in profitability with -138.6% year-over-year net income decline signaling worsening trends
- Negative return on assets (-4.1%) showing inefficient asset deployment and capital destruction
Key Metrics to Watch
- Operating cash flow trend and path to positive cash generation
- Revenue stabilization and recovery from negative levels
- Net loss magnitude and whether losses are widening or narrowing period-over-period
BNO Financial Metrics
💡 AI Analyst Insight
The 71.5% free cash flow margin provides substantial flexibility for dividends, buybacks, and strategic investments. The current ratio below 1.0x warrants monitoring of short-term liquidity.
BNO Profitability Ratios
BNO vs Default Sector
How United States Brent Oil Fund, LP compares to Default sector averages
Sector benchmarks are approximate industry averages. Actual sector performance may vary.
BNO Balance Sheet & Liquidity
BNO 5-Year Financial Trend
5-Year Trend Summary: United States Brent Oil Fund, LP's revenue has declined by 85% over the 5-year period, indicating business contraction.
BNO Growth Metrics (YoY)
BNO Quarterly Performance
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q3 2014 | -$8.9M | $1.1M | N/A |
| Q2 2014 | -$2.9M | $1.5M | N/A |
| Q3 2011 | -$2.1M | $863.5K | N/A |
| Q2 2011 | -$41.7K | -$155.5K | N/A |
Data sourced from SEC EDGAR 10-Q quarterly filings. Figures may represent quarterly or cumulative values.
BNO Capital Allocation
BNO SEC Filings
Access official SEC EDGAR filings for United States Brent Oil Fund, LP (CIK: 0001472494)
📋 Recent SEC Filings
❓ Frequently Asked Questions about BNO
What is the AI rating for BNO?
United States Brent Oil Fund, LP (BNO) has an AI rating of SELL with 75% confidence, based on fundamental analysis of SEC EDGAR filings.
What are BNO's key strengths?
Strong liquidity position with $86.5M in cash equivalents representing 86% of total assets. Minimal leverage with only $300.2K in liabilities providing financial stability.
What are the risks of investing in BNO?
Persistent negative revenue generation and operating losses indicating structural business challenges. Negative operating cash flow of -$3.7M demonstrating inability to generate cash from core operations.
What is BNO's revenue and growth?
United States Brent Oil Fund, LP reported revenue of $-5.2M.
Does BNO pay dividends?
United States Brent Oil Fund, LP does not currently pay dividends.
Where can I find BNO SEC filings?
Official SEC filings for United States Brent Oil Fund, LP (CIK: 0001472494) including 10-K, 10-Q, and 8-K reports are available on SEC EDGAR.
What is BNO's EPS?
United States Brent Oil Fund, LP has a diluted EPS of $0.00.
How is the AI analysis conducted?
Our AI (Claude) analyzes publicly available SEC EDGAR filings including 10-K annual reports and 10-Q quarterly reports to evaluate financial health, profitability ratios, balance sheet strength, and growth metrics.