United States 12 Month Oil Fund, LP financial statements
Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data United States 12 Month Oil Fund, LP files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
30.2
2.65
-4.86
14.9
110
94.9
39.4
0.55
5.68
-5.33
Operating expenses
0.81
0.93
0.65
0.5
1.58
Net income
29.4
1.72
-5.51
14.4
109
93.3
38.4
-0.06
5.06
-5.76
Balance sheet
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
117
83.2
42.7
45.2
182
99.5
21
23.5
31.9
31.8
Total assets
142
99.3
51
55.2
219
149
87.2
67.2
49.6
36.8
Total liabilities
15.3
7.77
0.16
0.15
23
11.6
3.91
0.23
0.22
0.17
Total liabilities and equity
142
99.3
51
55.2
219
149
87.2
67.2
49.6
36.8
Cash flow statement
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
29.4
1.72
-5.51
14.4
109
93.3
38.4
-0.06
5.06
-5.76
Cash from operations
7.19
0.42
13.7
-4.97
97.4
100
49.7
-1.28
3.57
-3.19
Cash from financing
26.5
-36.6
-35.2
-10.2
33.5
-153
-89.2
-19.9
-22.6
-7.01
Net change in cash
33.7
-36.1
-21.5
-15.1
131
-53
-39.5
-21.1
-19
-10.2
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $56.30 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Net margin
96.5%
Net income / revenue.
Operating cash flow margin
87.5%
Cash from operations / revenue.
Return on assets (ROA)
31.6%
Net income / average total assets.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
-194.0%
Revenue vs the same period a year earlier. Only from a positive base.
Net income growth, 1y
-214.0%
Net income vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y
-189.4%
Operating cash flow vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y
-25.8%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
-25.0%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y
-30.0%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Balance sheet health
Metric
Value
How it is calculated
Liabilities / assets
0.3%
Total liabilities / total assets.
Efficiency
Metric
Value
How it is calculated
Asset turnover
0.33x
Revenue / average total assets.
Valuation
Metric
Value
How it is calculated
Market cap
$50.7M
Share price x shares outstanding.
Enterprise value
$15.9M
Market cap + total debt - cash - short-term investments.
P/E
3.94x
Market cap / net income. Only when net income is positive.
P/S
3.80x
Market cap / revenue.
P/OCF
4.35x
Market cap / cash from operations, when positive.
EV/Sales
1.19x
Enterprise value / revenue.
Earnings yield
25.4%
Net income / market cap (the inverse of P/E).
What was United States 12 Month Oil Fund, LP's revenue in fiscal 2025?
United States 12 Month Oil Fund, LP reported revenue of $5.3M for fiscal 2025, 194% lower than the year before.
Was United States 12 Month Oil Fund, LP profitable in fiscal 2025?
No. It reported a net loss of $5.8M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.