Filing Flows › United States Oil Fund, LP (USO) › Operating margin
United States Oil Fund, LP (USO) operating margin by quarter
United States Oil Fund, LP's operating margin was 99.7% in Q1 2026 (first quarter 2026), +7.9 pts from Q3 2025. Over the last 4 quarters it ranged from 91.8% (Q3 2025) to 99.7% (Q1 2026).
| Quarter | Operating margin | Q/Q | Y/Y |
|---|---|---|---|
| Q1 2026 | 99.7% | +7.9 pts | +4.7 pts |
| Q3 2025 | 91.8% | -3.2 pts | — |
| Q1 2025 | 95.0% | -2.4 pts | — |
| Q4 2024 | 97.4% | — | — |
Q1 2026 at a glance
United States Oil Fund, LP, Q1 2026: revenue $986M (23× year over year), operating margin 99.7%, net earnings $984M, operating cash flow $632M. The chart follows the revenue to costs, profit and cash.
Questions
What is United States Oil Fund, LP's operating margin?
United States Oil Fund, LP's operating margin was 99.7% in Q1 2026 (first quarter 2026), +7.9 pts from Q3 2025.
How has United States Oil Fund, LP's operating margin changed?
Over the last 4 quarters it ranged from 91.8% (Q3 2025) to 99.7% (Q1 2026).
Q1 2026 results → · How United States Oil Fund, LP makes money →