# United States 12 Month Oil Fund, LP (USL) · Edgar & Edgarette company card

> United States 12 Month Oil Fund (USL) saw revenue fall 194% in FY2025 to $-5 million. Every figure is from the company’s own annual report filed with the SEC.

SEC CIK 1405528 · fiscal year ended 2025-12-31 · 5 audited years read · [page](https://www.pops4.com/boards/company/USL) · [JSON](https://www.pops4.com/boards/company/USL.json)

## Figures, as filed in the 10-K

| Measure | Value |
|---|---|
| Revenue | −$5M |
| Revenue growth, 1 year | -194.0% |
| Revenue growth per year | — |
| Operating margin | — |
| Net margin | 108.1% |
| Operating cash flow | −$3M |
| Capital spending | — |
| Free cash flow | — |
| Cash | $32M |
| Long-term debt | — |
| Total assets | $37M |
| Total equity | — |
| Equity ÷ assets | — |
| Return on equity | — |
| Dividend per share | — |
| Dividend years rising | — |

## Readings, computed from those figures

- Piotroski F: 2 of 9 (2 of 6 tested)
- Health Harbor boat: Weathered boat · two warning signs · slow and jumpy: growing slower than its size class, with revenue that swings more; revenue is hard to predict: its 80% range is ±28%
- Cash Compass: Fading · slow and jumpy, lagging its peers

## Edgarette's reading

Exposure: revenue -$5.3M (FY2025). Experience: revenue down 194.0% on the year. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $3.7M and $6.6M next year (method v3, set from 749 SEC company-years; on a year the method never saw, 83% landed inside). A statistical range, not company guidance. Against peers (38 filers, $50M+ revenue, its industry group): growth -194.0% against 10.1%.

Range logged 2026-09-20, receipt d3e4e9ac8df03b24, status open. A statistical range, not company guidance.

## Health Watch, last 12 months

No warning filings in the window.

## Recent filings

- 8-K · filed 2026-10-30 · 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1405528/000110465926120520/0001104659-26-120520-index.htm)
- 8-K · filed 2026-09-29 · 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1405528/000110465926111779/0001104659-26-111779-index.htm)
- 8-K · filed 2026-09-25 · 1.01 Entry into a Material Definitive Agreement · [filing](https://www.sec.gov/Archives/edgar/data/1405528/000207187626000222/0002071876-26-000222-index.htm)
- 8-K · filed 2026-08-28 · 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1405528/000110465926102788/0001104659-26-102788-index.htm)
- 10-Q · filed 2026-08-07 · [filing](https://www.sec.gov/Archives/edgar/data/1405528/000110465926092628/0001104659-26-092628-index.htm)
- 8-K · filed 2026-07-29 · 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1405528/000110465926087858/0001104659-26-087858-index.htm)

## Sources

- facts: https://data.sec.gov/api/xbrl/companyfacts/CIK0001405528.json
- filings: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1405528

## Cite

POPS4, Edgar & Edgarette: United States 12 Month Oil Fund, LP (USL) company card, from the company's own SEC filings, accessed 2026-11-04, https://www.pops4.com/boards/company/USL. CC BY 4.0. For a figure, add the filing URL under filings or sources.

DOI https://doi.org/10.5281/zenodo.23672509 · catalog https://www.pops4.com/boards/catalog.json · Figures as filed with the SEC. Card text CC BY 4.0, POPS4.

Reporting, not investment advice. No price targets and no trading recommendations.

Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.