EPS (Diluted)Not reportedfor the trailing 12 months
Operating Cash Flow-$1.3B-40388.3% YoY
Source SEC Filings (10-K/10-Q)Latest period Q3 FY2026, ended Sep 30, 2026ReportedCurrency USDFYE December
Newest figures come from the 10-Q for Q3 FY2026, filed Nov 6, 2026.
Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the UCO SEC filings page.
This page shows ProShares Ultra Bloomberg Crude Oil (UCO) financial statements, including the
income statement, balance sheet, cash flow statement, and key financial ratios.
View 13 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).
Rhea AIUCOFY2025
The reported business is driven by asset-value swings and capital flows, while profits repeatedly fail to arrive as operating cash.
In FY2025, net income reached $1.7B while operating cash flow was -$246M, an earnings-to-cash disconnect rather than ordinary operating conversion. That reversal from FY2024's positive operating cash flow of $209M occurred as the asset base expanded, so the latest profit figure appears tied more to valuation or portfolio movements than recurring cash generation.
Total assets nearly doubled to $6.1B in FY2025, while liabilities rose to $339M; liabilities remained modest relative to assets, but the balance sheet became less lightly financed than before. The supplied liabilities-to-assets proportion reached 5.6%, up from 4.0% in FY2024.
The reported share-buyback line was $13.0B in FY2025, more than twice total assets, so capital-flow accounting dominates the statements and makes conventional reinvestment or operating-margin analysis unreliable. The large swings in net income and return on assets reinforce that this is not a straightforward revenue-driven operating profile.
Financial Health Signals
Financial health score not available
We do not publish a peer-relative financial health score for ProShares Ultra Bloomberg Crude Oil, because the score only covers companies whose filings and listing give us what it needs to compare them with their peers. The signals and metrics below are current.
Piotroski F-ScorePartial
2/5
ProShares Ultra Bloomberg Crude Oil passes 2 of 5 computable financial strength tests (4 of the nine could not be computed from available data). 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).
Earnings QualityNo Cash Backing
$0.14used
For every $1 of reported earnings, ProShares Ultra Bloomberg Crude Oil used $0.14 of operating cash (-$246.3M OCF vs $1.7B net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely.
ProShares Ultra Bloomberg Crude Oil generated $41.2M in revenue in Q3 2026. This represents an increase of 17.7% from the same quarter a year earlier. Against the prior quarter it is down 17.0%.
Net Income
-$418.6M
YoY-650.0%
QoQn/m
5Y CAGRn/m
10Y CAGRn/m
ProShares Ultra Bloomberg Crude Oil reported a net loss of $418.6M in Q3 2026. This represents a decrease of 650.0% from the same quarter a year earlier. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
EBITDA
Not reported for Q3 2026.
EPS (Diluted)
Not reported for Q3 2026.
Cash & Balance Sheet
Cash & Debt
$1.4B
YoY-34.7%
QoQ+3.0%
5Y CAGR-5.3%
10Y CAGR+43.8%
ProShares Ultra Bloomberg Crude Oil held $1.4B in cash as of Q3 2026; no long-term debt figure is on record for that period.
Shares Outstanding
164M
YoY-0.1%
QoQ+24.6%
ProShares Ultra Bloomberg Crude Oil had 164M shares outstanding in Q3 2026. This represents a decrease of 0.1% from the same quarter a year earlier. Against the prior quarter it is up 24.6%.
Free Cash Flow
Not reported for Q3 2026.
Dividends Per Share
Not reported for Q3 2026.
Margins & Returns
Return on Equity
-8.3%
YoY-10.0pp
QoQ+18.0pp
5Y change-3.3pp
10Y change+5.5pp
ProShares Ultra Bloomberg Crude Oil's quarterly ROE was -8.3% in Q3 2026: one quarter's net income over shareholder equity, not annualized. This is down 10.0 percentage points from the same quarter a year earlier. Against the prior quarter it is up 18.0 percentage points.
Gross Margin
Not reported for Q3 2026.
Operating Margin
Not reported for Q3 2026.
Net Margin
Not shown for Q3 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
Share Buybacks
$2.4B
YoY+9.6%
QoQ-52.3%
5Y CAGR+9.2%
10Y CAGR+1.2%
ProShares Ultra Bloomberg Crude Oil spent $2.4B on share buybacks in Q3 2026, returning capital to shareholders by reducing shares outstanding. This represents an increase of 9.6% from the same quarter a year earlier. Against the prior quarter it is down 52.3%.
R&D Spending
Not reported for Q3 2026.
Capital Expenditures
Not reported for Q3 2026.
UCO Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, Interest Expense, Income Tax, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, Interest Expense, Income Tax, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).
TTM is the trailing twelve months, Q4 FY2025 through Q3 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
UCO Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Current Assets, Short-Term Investments, Inventory, Accounts Receivable, Long-Term Investments, Goodwill, Current Liabilities, Non-Current Liabilities, Long-Term Debt, Retained Earnings.
Not reported in any period shown, so not listed: Current Assets, Short-Term Investments, Inventory, Accounts Receivable, Long-Term Investments, Goodwill, Current Liabilities, Non-Current Liabilities, Long-Term Debt, Retained Earnings.
UCO Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Investing Cash Flow, Dividends Paid.
Not reported in any period shown, so not listed: Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Investing Cash Flow, Dividends Paid.
TTM is the trailing twelve months, Q4 FY2025 through Q3 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
UCO Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Current Ratio, Debt-to-Equity, Asset Turnover, FCF Margin.
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Current Ratio, Debt-to-Equity, FCF Margin.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Net Margin.
No, ProShares Ultra Bloomberg Crude Oil (UCO) reported a net loss of $105.5M over the trailing 12 months to September 30, 2026. In fiscal year 2025 it reported a net income of $1.7B.
ProShares Ultra Bloomberg Crude Oil (UCO) has a return on equity of 29.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
ProShares Ultra Bloomberg Crude Oil (UCO) recorded an outflow of $246.3M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
ProShares Ultra Bloomberg Crude Oil (UCO) had $6.1B in total assets as of fiscal year 2025, including both current and long-term assets.
Yes, ProShares Ultra Bloomberg Crude Oil (UCO) spent $13.0B on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
ProShares Ultra Bloomberg Crude Oil (UCO) had 219M shares outstanding as of fiscal year 2025.
ProShares Ultra Bloomberg Crude Oil (UCO) had a liabilities-to-equity ratio of 0.06 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity. No debt-to-equity ratio is shown for fiscal year 2025, because the filing data we hold for that year carries no long-term debt figure.
ProShares Ultra Bloomberg Crude Oil (UCO) had a return on assets of 28.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
ProShares Ultra Bloomberg Crude Oil (UCO) has a Piotroski F-Score of 2 out of 5 computable signals; 4 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
For every $1 of reported earnings, ProShares Ultra Bloomberg Crude Oil (UCO) used $0.14 of operating cash (-$246.3M OCF vs $1.7B net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely. 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.
