United States 12 Month Oil Fund, LP (USL) intrinsic value & 10-year financials
United States 12 Month Oil Fund, LP (USL) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue shrank 18.9% a year to -$5.3M.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $62.74
- Revenue (FY2025)
- -$5.3M
- Revenue growth (10-yr CAGR)
- -18.9%
- Free cash flow (FY2025)
- —
USL 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | -$5.3M | -$5.8M | — | — | — | — |
| FY2024 | $5.7M | $5.1M | — | — | — | — |
| FY2023 | $551.3K | -$56.5K | — | — | — | — |
| FY2022 | $39.4M | $38.4M | — | — | — | — |
| FY2021 | $94.9M | $93.3M | — | — | — | — |
| FY2020 | $110.3M | $108.7M | — | — | — | — |
| FY2019 | $14.9M | $14.4M | — | — | — | — |
| FY2018 | -$4.9M | -$5.5M | — | — | — | — |
| FY2017 | $2.7M | $1.7M | — | — | — | — |
| FY2016 | $30.2M | $29.4M | — | — | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
United States 12 Month Oil Fund, LP revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
United States 12 Month Oil Fund, LP 10-year average ROIC is N/A; capital efficiency cannot be assessed from the available history.
United States 12 Month Oil Fund, LP capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, United States 12 Month Oil Fund, LP is modeled at -18.9% normalized earnings growth with a 5.1% bond-yield adjustment.