United States Brent Oil Financials

BNO

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows United States Brent Oil (BNO) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Piotroski F-Score Weak

1/9

United States Brent Oil passes 1 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).

Earnings Quality Low Quality

0.91x

For every $1 of reported earnings, United States Brent Oil generates $0.91 in operating cash flow (-$3.7M OCF vs -$4.1M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

Export CSV

Earnings & Revenue

Revenue

N/A

EBITDA

N/A

Net Income

-$4.1M

YoY-138.6%

United States Brent Oil reported -$4.1M in net income in fiscal year 2025. This represents a decrease of 138.6% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$86.5M

YoY+8.0%

5Y CAGR-22.6%

10Y CAGR+2.4%

United States Brent Oil held $86.5M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

N/A

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

-4.1%

YoY-13.3pp

5Y CAGR-38.1pp

10Y CAGR+48.8pp

United States Brent Oil's ROE was -4.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 13.3 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

BNO Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$4.1M-138.6%	$10.6M+359.0%	-$4.1M-105.0%	$82.6M-47.6%	$157.5M+32.2%	$119.1M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	N/A	$3.0M	N/A	$5.2M-59.0%	$12.7M	N/A	$1.0M-95.1%	$20.6M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$5.5M-303.3%	$2.7M+143.6%	-$6.2M-226.5%	$4.9M-60.0%	$12.2M+154.4%	-$22.5M-3655.4%	$633K-96.9%	$20.2M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

BNO Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$100.7M-12.3%	$114.9M-11.9%	$130.4M-44.6%	$235.1M+3.6%	$227.0M-35.2%	$350.2M
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$86.5M+8.0%	$80.1M+1.7%	$78.7M-20.2%	$98.7M-35.4%	$152.8M-51.0%	$311.5M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$300K-13.2%	$346K+27.4%	$271K-92.0%	$3.4M+489.3%	$573K+40.3%	$409K
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$100.4M-12.3%	$114.5M-12.0%	$130.1M-43.9%	$231.7M+2.4%	$226.4M-35.3%	$349.8M
Retained Earnings	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$100.7M-1.5%	$102.2M-1.7%	$104.0M+5.8%	$98.3M-14.4%	$114.9M-47.0%	$216.7M+68.1%	$128.9M-4.1%	$134.4M
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$86.5M+3.4%	$83.7M+2.1%	$82.0M+32.3%	$61.9M-22.7%	$80.1M-55.9%	$181.5M+98.2%	$91.6M-1.9%	$93.4M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$300K+12.4%	$267K+22.7%	$218K-23.8%	$286K-17.4%	$346K+9.4%	$316K+74.9%	$181K-7.7%	$196K
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$100.4M-1.5%	$102.0M-1.7%	$103.8M+5.8%	$98.1M-14.4%	$114.5M-47.1%	$216.3M+68.1%	$128.7M-4.1%	$134.2M
Retained Earnings	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

BNO Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$3.7M-153.1%	$7.0M-42.0%	$12.1M-85.5%	$83.6M-41.7%	$143.6M+22.1%	$117.6M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	-$10.0M+61.8%	-$26.2M+73.9%	-$100.3M-34.7%	-$74.5M+73.3%	-$278.9M-293.6%	$144.1M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	-$9.4M-54.8%	-$6.1M-163.0%	$9.7M+354.1%	$2.1M-65.3%	$6.1M+136.3%	-$16.9M-1793.3%	$998K-94.1%	$16.8M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	$4.0M+187.5%	-$4.5M-137.9%	$11.9M+155.8%	-$21.4M+81.3%	-$114.1M-203.6%	$110.1M+1888.7%	-$6.2M+61.7%	-$16.1M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

BNO Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	-4.1%-13.3pp	9.3%+12.4pp	-3.1%-38.8pp	35.6%-33.9pp	69.5%+35.5pp	34.0%
Return on Assets	-4.1%-13.3pp	9.2%+12.4pp	-3.1%-38.3pp	35.1%-34.3pp	69.4%+35.4pp	34.0%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.000.0	0.000.0	0.00-0.0	0.01+0.0	0.000.0	0.00
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	89.6%	N/A	94.3%-2.4pp	96.8%	N/A	62.2%-35.9pp	98.1%
Return on Equity	-5.5%-8.1pp	2.6%+8.6pp	-6.0%-11.0pp	5.0%-5.7pp	10.7%+21.1pp	-10.4%-10.9pp	0.5%-14.6pp	15.1%
Return on Assets	-5.5%-8.1pp	2.6%+8.6pp	-6.0%-10.9pp	5.0%-5.7pp	10.7%+21.0pp	-10.4%-10.9pp	0.5%-14.6pp	15.0%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.000.0	0.000.0	0.000.0	0.000.0	0.000.0	0.000.0	0.000.0	0.00
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Frequently Asked Questions

Is United States Brent Oil profitable?

No, United States Brent Oil (BNO) reported a net income of -$4.1M in fiscal year 2025.

What is United States Brent Oil's return on equity (ROE)?

United States Brent Oil (BNO) has a return on equity of -4.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is United States Brent Oil's operating cash flow?

United States Brent Oil (BNO) generated -$3.7M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are United States Brent Oil's total assets?

United States Brent Oil (BNO) had $100.7M in total assets as of fiscal year 2025, including both current and long-term assets.

What is United States Brent Oil's debt-to-equity ratio?

United States Brent Oil (BNO) had a debt-to-equity ratio of 0.00 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is United States Brent Oil's return on assets (ROA)?

United States Brent Oil (BNO) had a return on assets of -4.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is United States Brent Oil's cash runway?

Based on fiscal year 2025 data, United States Brent Oil (BNO) had $86.5M in cash against an annual operating cash burn of $3.7M. This gives an estimated cash runway of approximately 278 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is United States Brent Oil's Piotroski F-Score?

United States Brent Oil (BNO) has a Piotroski F-Score of 1 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are United States Brent Oil's earnings high quality?

United States Brent Oil (BNO) has an earnings quality ratio of 0.91x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.