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United States 12 Month Natural Gas Fund, LP (UNL) Stock Fundamental Analysis & AI Rating 2026

UNL NYSE Commodity Contracts Brokers & Dealers CIK: 0001405513
Recently Updated • Analysis: Apr 18, 2026 • SEC Data: 2025-12-31
STRONG SELL
78% Conf
Pending
Analysis scheduled

📊 UNL Key Takeaways

Revenue: $-735.9K
Net Margin: 132.0%
Free Cash Flow: $2.0M
Current Ratio: N/A
Debt/Equity: N/A
EPS: $0.00
AI Rating: STRONG SELL with 78% confidence
United States 12 Month Natural Gas Fund, LP (UNL) receives a STRONG SELL rating with 78% confidence from our AI fundamental analysis based on SEC 10-K filings. With revenue of -$735.9K, net profit margin of 132.0%, United States 12 Month Natural Gas Fund, LP demonstrates mixed fundamentals in the Market sector. Below is our complete UNL stock analysis for 2026.

Is United States 12 Month Natural Gas Fund, LP (UNL) a Good Investment?

Claude

UNL exhibits severe financial deterioration with negative revenue, declining net losses, and questionable operational viability as a natural gas commodity fund. While the fund maintains a strong cash position of $18.2M against minimal liabilities, the extreme revenue collapse (-9241% YoY) and persistent losses suggest structural challenges in fund performance and asset management that undermine investor confidence.

Why Buy United States 12 Month Natural Gas Fund, LP Stock? UNL Key Strengths

Claude
  • + Strong cash position of $18.2M provides liquidity buffer
  • + Low liabilities at $104.6K relative to assets indicates solvency
  • + Positive operating cash flow of $2.0M despite negative revenue

UNL Stock Risks: United States 12 Month Natural Gas Fund, LP Investment Risks

Claude
  • ! Catastrophic revenue decline of -9241% YoY indicates fundamental business failure or market collapse
  • ! Persistent net loss of -$971.5K with deteriorating operational metrics
  • ! Negative FCF margin of -265.2% signals unsustainable fund operations and value destruction
  • ! Zero insider activity in 90 days reflects lack of management confidence
  • ! Commodity fund structure exposed to adverse natural gas market conditions

Key Metrics to Watch

Claude
  • * Sequential revenue trend and asset composition changes
  • * Rate of cash burn and fund liquidation timeline
  • * Natural gas commodity price environment and fund derivative positions

United States 12 Month Natural Gas Fund, LP (UNL) Financial Metrics & Key Ratios

Revenue
$-735.9K
Net Income
$-971.5K
EPS (Diluted)
$0.00
Free Cash Flow
$2.0M
Total Assets
$18.8M
Cash Position
$18.2M

💡 AI Analyst Insight

The current ratio below 1.0x warrants monitoring of short-term liquidity.

UNL Profit Margin, ROE & Profitability Analysis

Gross Margin N/A
Operating Margin N/A
Net Margin 132.0%
ROE N/A
ROA -5.2%
FCF Margin -265.2%

UNL vs Market Sector: How United States 12 Month Natural Gas Fund, LP Compares

How United States 12 Month Natural Gas Fund, LP compares to Market sector averages

Net Margin
UNL 132.0%
vs
Sector Avg 12.0%
UNL Sector
ROE
UNL 0.0%
vs
Sector Avg 15.0%
UNL Sector
Current Ratio
UNL 0.0x
vs
Sector Avg 1.8x
UNL Sector
Debt/Equity
UNL 0.0x
vs
Sector Avg 0.7x
UNL Sector

Sector benchmarks are approximate industry averages. Actual sector performance may vary.

Is United States 12 Month Natural Gas Fund, LP Stock Overvalued? UNL Valuation Analysis 2026

Based on fundamental analysis, United States 12 Month Natural Gas Fund, LP has mixed fundamental signals relative to the Market sector in 2026.

Return on Equity
N/A
Sector avg: 15%
Net Profit Margin
132.0%
Sector avg: 12%
Revenue Growth
N/A
Year-over-year
Debt/Equity
N/A
Sector avg: 0.7x

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 12 Month Natural Gas Fund, LP Balance Sheet: UNL Debt, Cash & Liquidity

Current Ratio
N/A
Quick Ratio
N/A
Debt/Equity
N/A
Debt/Assets
0.6%
Interest Coverage
N/A
Long-term Debt
N/A

UNL Revenue & Earnings Growth: 5-Year Financial Trend

UNL 5-year financial data: Year 2021: Revenue $3.5K, Net Income -$814.3K, EPS N/A. Year 2022: Revenue $9.1K, Net Income -$214.9K, EPS N/A. Year 2023: Revenue $9.1K, Net Income $3.2M, EPS N/A. Year 2024: Revenue $11.2K, Net Income $3.6M, EPS N/A. Year 2025: Revenue $11.2K, Net Income -$13.3M, EPS N/A.
Revenue
Net Income
EPS (right axis)

5-Year Trend Summary: United States 12 Month Natural Gas Fund, LP's revenue has grown significantly by 220% over the 5-year period, indicating strong business expansion.

UNL Revenue Growth, EPS Growth & YoY Performance

Revenue Growth
N/A
Year-over-year
Net Income Growth
N/A
Year-over-year
EPS Growth
N/A
Earnings per share
FCF Margin
-265.2%
Free cash flow / Revenue

UNL Quarterly Earnings & Performance

Quarterly financial performance data for United States 12 Month Natural Gas Fund, LP including revenue, net income, and earnings per share.
Quarter Revenue Net Income EPS
Q3 2025 $700 $453.0K N/A
Q2 2025 $700 -$1.1M N/A
Q1 2025 $2.5K -$2.3M N/A
Q3 2024 $1.4K -$596.1K N/A
Q2 2024 $700 -$173.1K N/A
Q1 2024 $1.4K -$2.3M N/A
Q3 2023 $1.4K -$921.5K N/A
Q2 2023 $1.4K -$173.1K N/A

Data sourced from SEC EDGAR 10-Q quarterly filings. Figures may represent quarterly or cumulative values.

United States 12 Month Natural Gas Fund, LP Dividends, Buybacks & Capital Allocation

Operating Cash Flow
$2.0M
Cash generated from operations
Dividends
None
No dividend program

UNL SEC Filings: Latest 10-K & 10-Q Analysis

Access official SEC EDGAR filings for United States 12 Month Natural Gas Fund, LP (CIK: 0001405513)

📋 Recent SEC Filings

Date Form Document Action
Mar 27, 2026 8-K i26130_unl-8k.htm View →
Mar 27, 2026 8-K tm268499d5_8k.htm View →
Mar 20, 2026 8-K tm268488d5_8k.htm View →
Mar 4, 2026 10-K unl-20251231x10k.htm View →
Feb 27, 2026 8-K tm266376d5_8k.htm View →

Frequently Asked Questions about UNL

What is the AI rating for UNL?

United States 12 Month Natural Gas Fund, LP (UNL) has an AI rating of STRONG SELL with 78% confidence, based on fundamental analysis of SEC EDGAR filings.

What are UNL's key strengths?

Claude: Strong cash position of $18.2M provides liquidity buffer. Low liabilities at $104.6K relative to assets indicates solvency.

What are the risks of investing in UNL?

Claude: Catastrophic revenue decline of -9241% YoY indicates fundamental business failure or market collapse. Persistent net loss of -$971.5K with deteriorating operational metrics.

What is UNL's revenue and growth?

United States 12 Month Natural Gas Fund, LP reported revenue of $-735.9K.

Does UNL pay dividends?

United States 12 Month Natural Gas Fund, LP does not currently pay dividends.

Where can I find UNL SEC filings?

Official SEC filings for United States 12 Month Natural Gas Fund, LP (CIK: 0001405513) including 10-K, 10-Q, and 8-K reports are available on SEC EDGAR.

What is UNL's EPS?

United States 12 Month 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 UNL a good stock to buy right now?

Based on our AI fundamental analysis in April 2026, United States 12 Month Natural Gas Fund, LP has a STRONG SELL rating with 78% confidence. Review the strengths and risks sections above before making a decision. This is not investment advice.

Is UNL stock overvalued or undervalued?

Valuation metrics for UNL: ROE of N/A (sector avg: 15%), net margin of 132.0% (sector avg: 12%). Compare these metrics with sector averages to assess valuation.

Should I buy UNL stock in 2026?

Our dual AI analysis gives United States 12 Month Natural Gas Fund, LP a combined STRONG SELL rating for 2026. Revenue is data pending, with profitability above sector average. Always conduct your own research.

What is UNL's free cash flow?

United States 12 Month Natural Gas Fund, LP's operating cash flow is $2.0M, with capital expenditures of N/A. FCF margin is -265.2%.

How does UNL compare to other Market stocks?

Vs Default sector averages: Net margin 132.0% (avg: 12%), ROE N/A (avg: 15%), current ratio N/A (avg: 1.8).

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Disclaimer: This analysis is generated by Claude AI (Anthropic) and ChatGPT (OpenAI) based on publicly available SEC EDGAR filings. It does not include stock price data and should not be considered financial advice. All fundamental data is sourced from SEC public domain filings. Always conduct your own research and consult with a qualified financial advisor before making investment decisions.
Data Source: SEC EDGAR | Analysis Date: Apr 18, 2026 | Data as of: 2025-12-31 | Powered by Claude AI