United States 12 Month Oil Fund (USL) Price to FCF (2012 - 2026)
United States 12 Month Oil Fund's (USL) quarterly Price to FCF came in at 7.14 in Q2 2026, up 132.93% on a YoY basis from 3.07 in Q2 2025, and down 4.65% quarter-over-quarter from 7.49 in Q1 2026.
Analysis
United States 12 Month Oil Fund (USL) Price to FCF (2012 - 2026) Analysis & Trends
United States 12 Month Oil Fund (USL) has reported Price to FCF for 15 consecutive years, with 7.14 the latest figure, recorded in Q2 2026.
- For the quarter ending Q2 2026, Price to FCF rose 132.93% year-over-year to 7.14; the trailing twelve-month figure through Jun 2026 stood at 3.5 (up 114.27% YoY), and the FY2025 full-year result was 12.52, down 174.07% from the prior year.
- Price to FCF fell to 7.14 in Q2 2026 per USL's latest filing, from 7.49 in the prior quarter.
- Across five years, Price to FCF topped out at 378.49 in Q2 2022 and bottomed at 2175.89 in Q4 2023.
- Historically, Price to FCF has averaged 90.09 across 5 years, with a median of 7.32 in 2026.
- The sharpest annual moves came in 2022 and 2023: Price to FCF surged 8150.49% in 2022, then sank 4051.72% in 2023.
- Over 5 years, Price to FCF stood at 55.06 in 2022, then sank by 4051.72% to 2175.89 in 2023, then surged by 92.29% to 167.74 in 2024, then surged by 76.69% to 39.1 in 2025, then jumped by 118.27% to 7.14 in 2026.
- According to Business Quant data, Price to FCF over the past three periods registered 7.14, 7.49, and 39.1 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 | 7.14 |
| Mar 31, 2026 | 7.49 |
| Dec 31, 2025 | -39.10 |
| Sep 30, 2025 | -93.48 |
| Jun 30, 2025 | -21.69 |
| Mar 31, 2025 | 217.29 |
| Dec 31, 2024 | -167.74 |
| Sep 30, 2024 | 143.50 |
| Jun 30, 2024 | 25.14 |
| Mar 31, 2024 | 60.38 |
| Dec 31, 2023 | -2,175.89 |
| Sep 30, 2023 | 25.20 |
| Jun 30, 2023 | -24.45 |
| Mar 31, 2023 | -47.39 |
| Dec 31, 2022 | 55.06 |
| Sep 30, 2022 | 24.52 |
| Jun 30, 2022 | 378.49 |
| Mar 31, 2022 | 3.87 |
| Dec 31, 2021 | 32.97 |
| Sep 30, 2021 | 13.53 |