Filing Flows › United States Oil Fund, LP (USO) › How it makes money
How United States Oil Fund, LP (USO) makes money
United States Oil Fund, LP (USO) made $986M of revenue in the first quarter 2026 (Q1 2026), up 23-fold from a year earlier. Of every dollar of revenue, 100¢ was left as operating profit, 100¢ was left as net earnings.
Drawing the Sankey…
Where each dollar of revenue goes
| Line | Q1 2026 | % of revenue |
|---|---|---|
| Revenue | $986M | 100.0% |
| Operating profit | $984M | 99.7% |
| Net earnings | $984M | 99.7% |
| Operating cash flow | $632M | 64.1% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q1 2026 | $986M | 23× |
| Q4 2025 | $3.2M | -97% |
| Q3 2025 | $25.6M | — |
| Q1 2025 | $42.4M | -83% |
| Q4 2024 | $98.9M | — |
From United States Oil Fund, LP's 10-Q filed May 8, 2026 (on EDGAR).
Questions
How does United States Oil Fund, LP make money?
United States Oil Fund, LP (USO) made $986M of revenue in the first quarter 2026 (Q1 2026), up 23-fold from a year earlier. Of every dollar of revenue, 100¢ was left as operating profit, 100¢ was left as net earnings.
What is United States Oil Fund, LP's profit margin?
Net earnings were $984M, 99.7% of revenue, in the first quarter 2026; the operating margin was 99.7%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.