Filing Flows › United States 12 Month Oil Fund, LP (USL) › Operating margin
United States 12 Month Oil Fund, LP (USL) operating margin by quarter
United States 12 Month Oil Fund, LP's operating margin was 99.4% in Q1 2026 (first quarter 2026), +24.1 pts from Q3 2025. Over the last 4 quarters it ranged from 74.8% (Q1 2025) to 99.4% (Q1 2026).
| Quarter | Operating margin | Q/Q | Y/Y |
|---|---|---|---|
| Q1 2026 | 99.4% | +24.1 pts | +24.6 pts |
| Q3 2025 | 75.2% | +0.4 pts | — |
| Q1 2025 | 74.8% | -20.4 pts | — |
| Q4 2024 | 95.2% | — | — |
Q1 2026 at a glance
United States 12 Month Oil Fund, LP, Q1 2026: revenue $17.0M (37× year over year), operating margin 99.4%, net earnings $16.9M, operating cash flow $7.4M. The chart follows the revenue to costs, profit and cash.
Questions
What is United States 12 Month Oil Fund, LP's operating margin?
United States 12 Month Oil Fund, LP's operating margin was 99.4% in Q1 2026 (first quarter 2026), +24.1 pts from Q3 2025.
How has United States 12 Month Oil Fund, LP's operating margin changed?
Over the last 4 quarters it ranged from 74.8% (Q1 2025) to 99.4% (Q1 2026).
Q1 2026 results → · How United States 12 Month Oil Fund, LP makes money →