Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data United States 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
692
99.1
0.36
485
0.29
1,626
801
0.37
232
0.32
Operating expenses
25.9
20.1
13.2
11.4
28.3
24
15.5
11.1
10.8
8.46
Net income
667
79
-291
473
-1,905
1,602
785
-46
221
-64.7
Balance sheet
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
2,921
1,847
1,223
1,027
2,585
1,565
856
952
727
652
Total assets
3,283
2,149
1,485
1,214
3,712
2,379
1,983
1,587
1,099
890
Total liabilities
181
129
16.9
42.9
86.9
4.93
5.95
19.4
10.9
3.54
Total liabilities and equity
3,283
2,149
1,485
1,214
3,712
2,379
1,983
1,587
1,099
890
Shares outstanding
185
Cash flow statement
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
667
79
-291
473
-1,905
1,602
785
-46
221
-64.7
Cash from operations
527
19
-36.7
251
-2,254
1,868
872
-12.8
176
-21.9
Cash from financing
-634
-1,198
-298
-731
4,387
-2,913
-1,182
-477
-632
-92.2
Net change in cash
-107
-1,179
-334
-481
2,133
-1,045
-311
-490
-456
-114
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 $148.33 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Net margin
61.2%
Net income / revenue.
Operating cash flow margin
86.7%
Cash from operations / revenue.
Return on assets (ROA)
30.8%
Net income / average total assets.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
-99.9%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
-92.6%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
2.1%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y
-129.2%
Net income vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y
-112.4%
Operating cash flow vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y
-19.1%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
-23.4%
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
-24.9%
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
7.9%
Total liabilities / total assets.
Efficiency
Metric
Value
How it is calculated
Asset turnover
0.50x
Revenue / average total assets.
Valuation
Metric
Value
How it is calculated
Market cap
$2.20B
Share price x shares outstanding.
Enterprise value
$853.1M
Market cap + total debt - cash - short-term investments.
P/E
3.75x
Market cap / net income. Only when net income is positive.
P/S
2.29x
Market cap / revenue.
P/OCF
2.64x
Market cap / cash from operations, when positive.
EV/Sales
0.89x
Enterprise value / revenue.
Earnings yield
26.7%
Net income / market cap (the inverse of P/E).
What was United States Oil Fund, LP's revenue in fiscal 2025?
United States Oil Fund, LP reported revenue of $320.8K for fiscal 2025, 99.9% lower than the year before.
Was United States Oil Fund, LP profitable in fiscal 2025?
No. It reported a net loss of $64.7M.
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.