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United States Oil Financials

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

This page shows United States Oil (USO) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 18 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 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), neither operating efficiency signal passes.

Earnings Quality Low Quality
0.34x

For every $1 of reported earnings, United States Oil generates $0.34 in operating cash flow (-$21.9M OCF vs -$64.7M 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

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Earnings & Revenue

Revenue
$321K
YoY-99.9%
5Y CAGR+2.1%

United States Oil generated $321K in revenue in fiscal year 2025. This represents a decrease of 99.9% from the prior year.

EBITDA
N/A
Net Income
-$64.7M
YoY-129.2%

United States Oil reported -$64.7M in net income in fiscal year 2025. This represents a decrease of 129.2% from the prior year.

EPS (Diluted)
N/A

Cash & Balance Sheet

Free Cash Flow
N/A
Cash & Debt
$651.9M
YoY-10.4%
5Y CAGR-24.1%
10Y CAGR-13.3%

United States Oil held $651.9M 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
-20155.1%
YoY-20250.4pp
5Y CAGR+637834.2pp

United States Oil's net profit margin was -20155.1% in fiscal year 2025, showing the share of revenue converted to profit. This is down 20250.4 percentage points from the prior year.

Return on Equity
-7.3%
YoY-27.6pp
5Y CAGR+45.2pp
10Y CAGR+34.0pp

United States Oil's ROE was -7.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 27.6 percentage points from the prior year.

Capital Allocation

R&D Spending
N/A
Share Buybacks
N/A
Capital Expenditures
N/A

USO Income Statement

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Revenue N/A $25.6M+25461.5% $100K-99.8% $42.4M-57.1% $98.9M+110996.8% $89K-99.6% $22.6M-90.7% $243.2M
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 -$55.5M-336.4% $23.5M+132.2% -$73.0M-281.0% $40.3M-58.2% $96.3M+171.1% -$135.5M-779.7% $19.9M-91.7% $240.3M
EPS (Diluted) N/A N/A N/A N/A N/A N/A N/A N/A

USO Balance Sheet

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Total Assets $889.6M-1.5% $902.9M-26.4% $1.2B+16.1% $1.1B-3.9% $1.1B-22.6% $1.4B+11.1% $1.3B-12.7% $1.5B
Current Assets N/A N/A N/A N/A N/A N/A N/A N/A
Cash & Equivalents $651.9M-7.0% $700.6M-26.0% $946.4M+20.9% $783.0M+7.6% $727.5M-34.5% $1.1B+24.4% $892.9M-1.8% $909.1M
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 $3.5M-80.5% $18.2M-81.1% $96.5M+21.2% $79.6M+632.7% $10.9M-85.8% $76.5M+336.2% $17.5M-57.4% $41.2M
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 $886.1M+0.2% $884.7M-21.7% $1.1B+15.7% $976.4M-10.3% $1.1B-19.0% $1.3B+6.6% $1.3B-11.4% $1.4B
Retained Earnings N/A N/A N/A N/A N/A N/A N/A N/A

USO Cash Flow Statement

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Operating Cash Flow -$50.0M-83.0% -$27.3M-189.9% $30.4M+21.1% $25.1M-53.4% $53.9M+175.7% -$71.2M-404.3% $23.4M-86.2% $169.6M
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 $42.2M+112.6% -$334.5M-245.7% $229.6M+879.3% -$29.5M+93.5% -$452.2M-244.0% $314.1M+343.4% -$129.1M+64.6% -$364.6M
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

USO Financial Ratios

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 91.8%+73053.3pp -72961.5%-73056.5pp 95.0%-2.4pp 97.4%+152288.9pp -152191.5%-152279.5pp 88.0%-10.8pp 98.8%
Return on Equity -6.3%-8.9pp 2.6%+9.1pp -6.5%-10.6pp 4.1%-4.7pp 8.8%+18.9pp -10.1%-11.7pp 1.6%-15.3pp 16.9%
Return on Assets -6.2%-8.8pp 2.6%+8.5pp -5.9%-9.8pp 3.8%-5.0pp 8.8%+18.3pp -9.5%-11.1pp 1.6%-14.9pp 16.4%
Current Ratio N/A N/A N/A N/A N/A N/A N/A N/A
Debt-to-Equity 0.00-0.0 0.02-0.1 0.090.0 0.08+0.1 0.01-0.0 0.06+0.0 0.01-0.0 0.03
FCF Margin N/A N/A N/A N/A N/A N/A N/A N/A

Frequently Asked Questions

United States Oil (USO) reported $321K in total revenue for fiscal year 2025. This represents a -99.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

United States Oil (USO) revenue declined by 99.9% year-over-year, from $231.9M to $321K in fiscal year 2025.

No, United States Oil (USO) reported a net income of -$64.7M in fiscal year 2025, with a net profit margin of -20155.1%.

United States Oil (USO) had a net profit margin of -20155.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

United States Oil (USO) has a return on equity of -7.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

United States Oil (USO) generated -$21.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

United States Oil (USO) had $889.6M in total assets as of fiscal year 2025, including both current and long-term assets.

United States Oil (USO) 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.

United States Oil (USO) had a return on assets of -7.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Based on fiscal year 2025 data, United States Oil (USO) had $651.9M in cash against an annual operating cash burn of $21.9M. This gives an estimated cash runway of approximately 358 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.

United States Oil (USO) 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.

United States Oil (USO) has an earnings quality ratio of 0.34x, 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.

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