Updated Nov 9, 2026

United States Oil FundUSO

$148.41+0.13%

Market cap$2.0B

United States Oil Fund (USO) Financial statements

United States Oil Fund reported revenue of $320,800 in fiscal 2025, down 57.4% a year over 9 years.

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Key figures

Net income was -$65M. The diluted share count fell 96% over the period (buybacks).

Revenue, FY2025: $320,800-99.9% on 2024
Net income: -$65M-129.2% on 2024
Operating margin: —
Free cash flow: —

Revenue and free cash flow

Fiscal years, from United States Oil Fund's 10-K filings.

United States Oil Fund revenue and free cash flow

FY2016–FY2025

USORevenue$0M

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<iframe src="https://investingly.io/embed/USO/financials" width="100%" height="330" style="border:0;max-width:680px" title="United States Oil Fund revenue and free cash flow" loading="lazy"></iframe>
<p style="font-size:13px">Source: <a href="https://investingly.io/stocks/USO/financials">United States Oil Fund financials</a> on Investingly</p>

Margins

How much of each dollar of revenue is left after the cost of sales, after operating costs, and at the bottom line.

United States Oil Fund margins

FY2016–FY2025

USONet margin-20155%

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Financial statements

Fiscal 2016–2025.

United States Oil Fund income statement, fiscal 2016–2025

United States Oil Fund (USO) income statement by fiscal year
USD	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$692M	$99M	$358,000	$485M	$289,546	$1.6B	$801M	$374,000	$232M	$320,800
Net income	$667M	$79M	-$291M	$473M	-$1.9B	$1.6B	$785M	-$46M	$221M	-$65M
EPS (diluted)	$2.07	$0.31	-$17.01	$31.24	-$16.61	$24.54	$22.26	-$2.01	$12.47	-$4.81
Diluted shares	323M	253M	17M	15M	115M	65M	35M	23M	18M	13M
Net margin	96.3%	79.7%	-81361.6%	97.7%	-657989.3%	98.5%	98.1%	-12311.1%	95.3%	-20155.1%

United States Oil Fund balance sheet, fiscal 2016–2025

United States Oil Fund (USO) balance sheet by fiscal year
USD	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and short-term investments	$2.9B	$1.8B	$1.2B	$1.0B	$2.6B	$1.6B	$856M	$952M	$727M	$652M
Total assets	$3.3B	$2.1B	$1.5B	$1.2B	$3.7B	$2.4B	$2.0B	$1.6B	$1.1B	$890M
Total liabilities	$181M	$129M	$17M	$43M	$87M	$5M	$6M	$19M	$11M	$4M
Shareholders' equity	$3.1B	$2.0B	$1.5B	$1.2B	$3.6B	$2.4B	$2.0B	$1.6B	$1.1B	$886M
Net debt	-$2.9B	-$1.8B	-$1.2B	-$1.0B	-$2.6B	-$1.6B	-$856M	-$952M	-$727M	-$652M

United States Oil Fund cash flow, fiscal 2016–2025

United States Oil Fund (USO) cash flow by fiscal year
USD	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Operating cash flow	$527M	$19M	-$37M	$251M	-$2.3B	$1.9B	$872M	-$13M	$176M	-$22M

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How United States Oil Fund compares

United States Oil Fund's net margin is higher than 99% of the 3,396 companies with a net margin figure.

United States Oil Fund (USO) percentile ranks: share of companies with a lower figure
Higher than	All stocks
Net margin	99%
Revenue growth	99%
ROE	98%
P/E	4%

Questions about United States Oil Fund

What was United States Oil Fund's revenue in 2025?

$320,800 in fiscal 2025, from its 10-K filing.

More on USO in Investingly

Quarterly and TTM statements→ Revenue by segment and region→ Charts of every line→ Valuation ratios and history→ DCF and modeling→ Peers side by side→

From United States Oil Fund's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.