United States 12 Month Oil Fund (USL) EV to CFO (2012 - 2026)
United States 12 Month Oil Fund's (USL) quarterly EV to CFO came in at 1.06 in Q2 2026, up 134.03% on a YoY basis from 0.45 in Q2 2025, and up 278.77% quarter-over-quarter from 0.28 in Q1 2026.
Analysis
United States 12 Month Oil Fund (USL) EV to CFO (2012 - 2026) Analysis & Trends
United States 12 Month Oil Fund (USL) has reported EV to CFO for 15 consecutive years, with 1.06 the latest figure, recorded in Q2 2026.
- For the quarter ending Q2 2026, EV to CFO rose 134.03% year-over-year to 1.06; the trailing twelve-month figure through Jun 2026 stood at 0.52 (up 114.74% YoY), and the FY2025 full-year result was 2.57, down 132.2% from the prior year.
- EV to CFO climbed to 1.06 in Q2 2026 per USL's latest filing, from 0.28 in the prior quarter.
- Across five years, EV to CFO topped out at 181.85 in Q2 2022 and bottomed at 613.0 in Q4 2023.
- Historically, EV to CFO has averaged 21.61 across 5 years, with a median of 1.25 in 2022.
- The sharpest annual moves came in 2022 and 2023: EV to CFO soared 20284.36% in 2022, then tumbled 2617.52% in 2023.
- Over 5 years, EV to CFO stood at 24.35 in 2022, then plunged by 2617.52% to 613.0 in 2023, then jumped by 87.08% to 79.19 in 2024, then soared by 89.87% to 8.02 in 2025, then jumped by 113.23% to 1.06 in 2026.
- According to Business Quant data, EV to CFO over the past three periods registered 1.06, 0.28, and 8.02 for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | BlackRock | 169.89 Bn | 156.02 Bn | - |
| 2 | Spdr Gold Trust | 144.81 Bn | -413.20 Bn | - |
| 3 | Ishares Gold Trust | 30.30 Bn | -29.81 Bn | - |
| 4 | World Gold Trust | 29.28 Bn | -73.79 Bn | - |
| 5 | Principal Financial | 24.84 Bn | -28.13 Bn | 1.91 Bn |
| 6 | iShares Silver Trust | 22.15 Bn | -6.05 Bn | - |
| 7 | Franklin Resources | 17.84 Bn | 14.12 Bn | - |
| 8 | Invesco | 14.63 Bn | 13.72 Bn | 1.79 Bn |
| 9 | Affiliated Managers | 9.51 Bn | 9.10 Bn | - |
| 10 | United States 12 Month Oil Fund | 58.33 Mn | 23.57 Mn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 1.06 |
| Mar 31, 2026 | 0.28 |
| Dec 31, 2025 | -8.02 |
| Sep 30, 2025 | -12.67 |
| Jun 30, 2025 | -3.12 |
| Mar 31, 2025 | 55.82 |
| Dec 31, 2024 | -79.19 |
| Sep 30, 2024 | 45.21 |
| Jun 30, 2024 | 8.74 |
| Mar 31, 2024 | 24.03 |
| Dec 31, 2023 | -613.00 |
| Sep 30, 2023 | 16.91 |
| Jun 30, 2023 | -13.08 |
| Mar 31, 2023 | -34.74 |
| Dec 31, 2022 | 24.35 |
| Sep 30, 2022 | 15.07 |
| Jun 30, 2022 | 181.85 |
| Mar 31, 2022 | 1.44 |
| Dec 31, 2021 | 17.63 |
| Sep 30, 2021 | 3.50 |