📊 UNG Key Takeaways
Is United States Natural Gas Fund, LP (UNG) a Good Investment?
UNG exhibits sound financial structure with strong liquidity (438.5M cash, 75.7% of assets) and minimal leverage, but as a commodity fund the extraordinary margins (637% net, 2366% FCF) are artifacts of commodity price movements rather than operational quality. Traditional fundamental analysis is inappropriate for commodity ETFs where returns depend on natural gas price exposure, not business fundamentals.
Why Buy United States Natural Gas Fund, LP Stock? UNG Key Strengths
- Exceptional liquidity with 438.5M cash representing 75.7% of total assets
- Minimal financial leverage with only 28.8M liabilities against 579.5M assets
- Positive operating and free cash flow generation of 127.1M
UNG Stock Risks: United States Natural Gas Fund, LP Investment Risks
- Fund structure makes traditional fundamental metrics unreliable; margins are driven by commodity price movements not operational performance
- Revenue of 5.4M vs net income of 34.2M indicates results dominated by holding gains which are non-sustainable and commodity-price dependent
- Flat net income growth (0% YoY) suggests stagnant performance; returns dependent entirely on natural gas commodity price appreciation
Key Metrics to Watch
- Natural gas futures price exposure and hedge effectiveness
- Assets Under Management and fund inflows/outflows
- Operating cash flow versus holding gains decomposition
United States Natural Gas Fund, LP (UNG) Financial Metrics & Key Ratios
💡 AI Analyst Insight
The 2,366.3% free cash flow margin provides substantial flexibility for dividends, buybacks, and strategic investments. The current ratio below 1.0x warrants monitoring of short-term liquidity.
UNG Profit Margin, ROE & Profitability Analysis
UNG vs Market Sector: How United States Natural Gas Fund, LP Compares
How United States Natural Gas Fund, LP compares to Market sector averages
Sector benchmarks are approximate industry averages. Actual sector performance may vary.
Is United States Natural Gas Fund, LP Stock Overvalued? UNG Valuation Analysis 2026
Based on fundamental analysis, United States Natural Gas Fund, LP has mixed fundamental signals relative to the Market sector in 2026.
Note: This is a fundamental analysis based on SEC filings. For P/E ratio, price targets, and market-based valuation, consult financial data providers. This is not investment advice.
United States Natural Gas Fund, LP Balance Sheet: UNG Debt, Cash & Liquidity
UNG Revenue & Earnings Growth: 5-Year Financial Trend
5-Year Trend Summary: United States Natural Gas Fund, LP's revenue has grown significantly by 56% over the 5-year period, indicating strong business expansion.
UNG Revenue Growth, EPS Growth & YoY Performance
UNG Quarterly Earnings & Performance
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q1 2019 | $333.8K | -$662.8K | N/A |
| Q3 2018 | -$147.7M | -$12.0M | N/A |
| Q2 2018 | -$137.0M | $19.3M | N/A |
| Q1 2018 | -$93.2M | $11.1M | N/A |
| Q3 2017 | -$147.7M | -$12.0M | N/A |
| Q2 2017 | -$137.0M | $36.6M | N/A |
| Q1 2017 | -$113.6M | -$94.9M | N/A |
| Q3 2016 | -$94.0M | $16.5M | N/A |
Data sourced from SEC EDGAR 10-Q quarterly filings. Figures may represent quarterly or cumulative values.
United States Natural Gas Fund, LP Dividends, Buybacks & Capital Allocation
UNG SEC Filings: Latest 10-K & 10-Q Analysis
Access official SEC EDGAR filings for United States Natural Gas Fund, LP (CIK: 0001376227)
📋 Recent SEC Filings
❓ Frequently Asked Questions about UNG
What is the AI rating for UNG?
United States Natural Gas Fund, LP (UNG) has an AI rating of HOLD with 35% confidence, based on fundamental analysis of SEC EDGAR filings.
What are UNG's key strengths?
Claude: Exceptional liquidity with 438.5M cash representing 75.7% of total assets. Minimal financial leverage with only 28.8M liabilities against 579.5M assets.
What are the risks of investing in UNG?
Claude: Fund structure makes traditional fundamental metrics unreliable; margins are driven by commodity price movements not operational performance. Revenue of 5.4M vs net income of 34.2M indicates results dominated by holding gains which are non-sustainable and commodity-price dependent.
What is UNG's revenue and growth?
United States Natural Gas Fund, LP reported revenue of $5.4M.
Does UNG pay dividends?
United States Natural Gas Fund, LP does not currently pay dividends.
Where can I find UNG SEC filings?
Official SEC filings for United States Natural Gas Fund, LP (CIK: 0001376227) including 10-K, 10-Q, and 8-K reports are available on SEC EDGAR.
What is UNG's EPS?
United States Natural Gas Fund, LP has a diluted EPS of $0.00.
How is the AI analysis conducted?
Two independent AI systems — Claude (Anthropic) and ChatGPT (OpenAI) — analyze SEC EDGAR filings including 10-K annual reports and 10-Q quarterly reports. Each AI evaluates financial health, profitability ratios, balance sheet strength, and growth metrics. The combined rating reflects both perspectives for balanced insights.
Is UNG a good stock to buy right now?
Based on our AI fundamental analysis in April 2026, United States Natural Gas Fund, LP has a HOLD rating with 35% confidence. Review the strengths and risks sections above before making a decision. This is not investment advice.
Is UNG stock overvalued or undervalued?
Valuation metrics for UNG: ROE of N/A (sector avg: 15%), net margin of 637.0% (sector avg: 12%). Compare these metrics with sector averages to assess valuation.
Should I buy UNG stock in 2026?
Our dual AI analysis gives United States Natural Gas Fund, LP a combined HOLD rating for 2026. Revenue is data pending, with profitability above sector average. Always conduct your own research.
What is UNG's free cash flow?
United States Natural Gas Fund, LP's operating cash flow is $127.1M, with capital expenditures of N/A. FCF margin is 2,366.3%.
How does UNG compare to other Market stocks?
Vs Default sector averages: Net margin 637.0% (avg: 12%), ROE N/A (avg: 15%), current ratio N/A (avg: 1.8).