TTENK/calls
The BriefMarketsAll StocksNewsScreenerFeedback

Get the Brief in your inbox

A daily, SEC-grounded read on the market — movers, earnings, and our boldest calls. Free.

TTENK/calls

SEC-grounded equity research — opinionated calls reasoned over real filings.

Research

  • The Brief
  • Markets
  • All Stocks
  • Screener
  • Discover
  • Research
  • The Flip Side
  • Track record

Tools

  • Compare
  • Congress trades
  • Events
  • Filing search
  • Options calculator
  • Leaderboards
  • Insider trades
  • Groups
  • Trending
  • News

More

  • Pricing
  • Feedback
  • Newsletter
  • Developers / API
  • Account
DisclosuresTermsPrivacy

Research & education only — not financial advice.TENK is not a registered investment adviser; calls are impersonal, generated from SEC filings and a delayed/third-party price feed, and may be wrong or out of date. The operator and an affiliated trading operation may hold or trade the securities TENK rates — see Disclosures. Do your own research.

EDGAR® is a registered trademark of the U.S. Securities and Exchange Commission. TENK/calls is an independent service and is not affiliated with, endorsed by, or approved by the U.S. Securities and Exchange Commission.

TTENK/calls
The BriefMarketsAll StocksNewsScreenerFeedback

Pulling SEC filings + quote and writing the call…

TTENK/calls
The BriefMarketsAll StocksNewsScreenerFeedback
← New search
Home›Stocks›UNG

UNG

United States Natural Gas Fund, LP

Next earnings ≈ Jul 17, 2026 · est. from filing cadence

Buy
$11.58
▲ +1.31%
$11.58▼ -29.99%
over 1Y
L $10.15H $16.90
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today+1.3%
1W-1.4%
1M+1.0%
3M+2.0%
YTD-4.0%
1Y-30.0%
OverviewFinancialsValuationQualityTimelineFilings
Rating
Buy
Quality
B-
Valuation
Fair value
Filings
Clean
Buy
Conviction
Horizon
Medium (3–12mo)

Revenue grew 261.3% YoY.

Revenue (FY2022) $80.0M · FY2022

United States Natural Gas Fund, LP shows $80.0M in FY2022 revenue (+261.3% YoY), a 42.8% net margin.

Supporting the case: revenue grew 261.3% YoY; strong net margin (42.8%).

Is UNG a buy? The one-page verdict, explained →

The options angle

model · matches our verdict
Bull call spread (wide)~60d expiry
  • Long call 11.5 @ ~0.83 est
  • Short call 13.5 @ ~0.21 est
debit $62max +$138max −$62BE 12.12

High-conviction BUY: a wider spread keeps more of the upside while the short call still cuts cost and decay.

Open in the calculator →

Educational template, not a trade recommendation. Strikes and premiums are Black-Scholes model estimates from the last close and 30-day realized volatility — real chains, spreads and IV will differ. Options involve substantial risk.

Financials · annual, by fiscal year

Line itemFY21FY22FY23FY24FY25
Revenue$22.1M$80.0M———
Gross profit—————
Operating income—————
Net income$18.4M$75.0M-$671M$65.1M$34.2M
Diluted EPS—————
Net margin83.1%93.8%———

10-year statements — income, cash flow, balance sheet & CSV export →

Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.

Key statistics

Valuation

Enterprise value—
EV / EBITDA—
EV / Sales—
EV / FCF—
P / FCF—
PEG (trailing)—
Earnings yield8.3%
FCF yield—

Quality & risk

ROIC (est.)—
Free cash flow—
Total debt—
Net cash$438M
Piotroski F-Score4/6

Capital returns

Buyback yield—
Dividend yield (est.)—
Shareholder yield—
Shares Δ YoY+47.2%

Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.

Disclosure timeline

SEC · 8-Ks + reports
Routine disclosure cadence — no material red flags in recent filings.
  1. 8-K Reg FD disclosure2026-06-29
  2. 8-K Reg FD disclosure2026-05-28
  3. 10-Q Quarterly report2026-05-08
  4. 8-K Reg FD disclosure2026-04-29
  5. 8-K Reg FD disclosure2026-03-27
  6. 8-K Reg FD disclosure2026-03-27
  7. 8-K Reg FD disclosure2026-03-20
  8. 10-K Annual report2026-02-27
  9. 10-Q Quarterly report2025-11-07

Recent filings

all on EDGAR ↗
8-KPeriod ending 2026-06-292026-06-29open ↗8-KPeriod ending 2026-05-282026-05-28open ↗POS EXFiling2026-05-14open ↗10-QPeriod ending 2026-03-312026-05-08open ↗8-KPeriod ending 2026-04-292026-04-29open ↗424B3Filing2026-04-24open ↗424IFiling2026-03-30open ↗8-KPeriod ending 2026-03-272026-03-27open ↗8-KPeriod ending 2026-03-272026-03-27open ↗8-KPeriod ending 2026-03-202026-03-20open ↗10-KPeriod ending 2025-12-312026-02-27open ↗8-KPeriod ending 2026-02-272026-02-27open ↗

Quality score

B-
ValueGrowthProfitHealthMom.
ValueC
GrowthC
ProfitabilityA+
Financial healthA-
MomentumF
  • ✓Revenue growing year-over-year
  • ✓Profitable (positive net income)
  • ✓Net margin above 10%
10.1552-week16.90
Revenue
$80.0M
+261.3% YoY
Net margin
42.8%
ROE
—
P/E
—

SEC fundamentals · FY 2025

'21'22'23'24'25

■ revenue · ■ net income, by fiscal year

Revenue$80.0M+261.3%
Net income$34.2M-47.5%
Cash & equivalents$438M-26.1%
Total assets$579M-26.6%
Total liabilities$28.8M-37.5%

Frequently asked

Is United States Natural Gas Fund, LP (UNG) a buy?
UNG currently carries a Buy rating with 4/5 conviction, derived from its latest SEC filings. Revenue grew 261.3% YoY.
What is United States Natural Gas Fund, LP's quality score?
UNG scores 67.47129483814523/100 (grade B-) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.

Sources: SEC EDGAR (CIK 0001376227, latest 10-Q filed 2026-05-08) · EODHD · as of 6/18/2026, 12:12:55 PM.

›About this recommendation — produced by TENK/calls (tenkcalls.com), Luxembourg · not investment advice

Rule-based analysis, generated automatically from SEC filing data.

Investment recommendation produced by TENK/calls (tenkcalls.com), Luxembourg. Completed Jun 18, 2026, 8:12 AM ET. Ratings & methodology: definitions · All recommendations to date: track record · Conflicts: disclosures. Not investment advice.

Research and education only — not financial advice. TENKis not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities TENK rates; see Disclosures. Past performance does not guarantee future results. Do your own research.

Vs tracked universe

compare →

1195 tracked peers · median

TENK Score67 vs 67
Revenue growth261.3% vs 7.5%
Net margin42.8% vs 10.0%
Return on equity— vs 12.0%
P/E— vs 26.2