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United States Natural Gas Fund, LP

UNG Clue Score61
United States Fiscal year ends December CIK 0001376227
$10.92 -0.82% Close, 12 Oct 2026
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Price $10.92 −42.10% Close, 12 Oct 2026

Closing prices at the end of each trading day, from 13 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueNet income
Fiscal year 2016Revenue104.8Net income98.7Fiscal year 2017Revenue−187.0 −278.4%Net income−193.4 −295.9%Fiscal year 2018Revenue114.9Net income110.0Fiscal year 2019Revenue−73.6 −164.1%Net income−77.6 −170.5%Fiscal year 2020Revenue−197.4Net income−202.8Fiscal year 2021Revenue22.1Net income18.4Fiscal year 2022Revenue80.0 +261.3%Net income75.0 +307.8%Fiscal year 2023Net income−671.3 −994.6%Fiscal year 2024Net income65.1Fiscal year 2025Net income34.2 −47.5%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 104.8 −187.0 114.9 −73.6 −197.4 22.1 80.0 n/a n/a n/a
Growth −278.4% −164.1% +261.3%
Net income 98.7 −193.4 110.0 −77.6 −202.8 18.4 75.0 −671.3 65.1 34.2
Growth −295.9% −170.5% +307.8% −994.6% −47.5%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Net margin
Fiscal year 2016Net margin94.2%Fiscal year 2017Net margin103.4%Fiscal year 2018Net margin95.8%Fiscal year 2019Net margin105.5%Fiscal year 2020Net margin102.8%Fiscal year 2021Net margin83.1%Fiscal year 2022Net margin93.8%Fiscal year 2023Fiscal year 2024Fiscal year 2025
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Net margin 94.2% 103.4% 95.8% 105.5% 102.8% 83.1% 93.8% n/a n/a n/a

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flow
Fiscal year 2016Operating cash flow166.4Fiscal year 2017Operating cash flow−256.0Fiscal year 2018Operating cash flow232.6Fiscal year 2019Operating cash flow−124.4Fiscal year 2020Operating cash flow−208.6Fiscal year 2021Operating cash flow7.2Fiscal year 2022Operating cash flow215.5Fiscal year 2023Operating cash flow−865.0Fiscal year 2024Operating cash flow47.5Fiscal year 2025Operating cash flow127.1
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 166.4 −256.0 232.6 −124.4 −208.6 7.2 215.5 −865.0 47.5 127.1

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
Cash
Fiscal year 2016Cash522.8Fiscal year 2017Cash550.9Fiscal year 2018Cash259.5Fiscal year 2019Cash375.6Fiscal year 2020Cash342.9Fiscal year 2021Cash248.4Fiscal year 2022Cash317.9Fiscal year 2023Cash678.0Fiscal year 2024Cash593.5Fiscal year 2025Cash438.5
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 522.8 550.9 259.5 375.6 342.9 248.4 317.9 678.0 593.5 438.5

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Cash flow

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Operations
166.4 −256.0 232.6 −124.4 −208.6 7.2 215.5 −865.0 47.5 127.1
Growth −253.9% −153.5% +2,903.1% −501.3% +167.5%
Financing
−77.4 340.2 −524.7 223.6 190.1 −72.0 −31.7 1,234.3 −299.2 −227.4

Capital expenditure, dividends and buybacks are shown as money out, so negative.