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
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.
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
Earnings & Revenue
United States Oil generated $321K in revenue in fiscal year 2025. This represents a decrease of 99.9% from the prior year.
United States Oil reported -$64.7M in net income in fiscal year 2025. This represents a decrease of 129.2% from the prior year.
Cash & Balance Sheet
United States Oil held $651.9M in cash against $0 in long-term debt as of fiscal year 2025.
Margins & Returns
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.
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
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
What is United States Oil's annual revenue?
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.
How fast is United States Oil's revenue growing?
United States Oil (USO) revenue declined by 99.9% year-over-year, from $231.9M to $321K in fiscal year 2025.
Is United States Oil profitable?
No, United States Oil (USO) reported a net income of -$64.7M in fiscal year 2025, with a net profit margin of -20155.1%.
What is United States Oil's net profit margin?
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.
What is United States Oil's return on equity (ROE)?
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.
What is United States Oil's operating cash flow?
United States Oil (USO) generated -$21.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are United States Oil's total assets?
United States Oil (USO) had $889.6M in total assets as of fiscal year 2025, including both current and long-term assets.
What is United States Oil's debt-to-equity ratio?
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.
What is United States Oil's return on assets (ROA)?
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.
What is United States Oil's cash runway?
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.
What is United States Oil's Piotroski F-Score?
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.
Are United States Oil's earnings high quality?
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.