United States 12 Month Natural Gas Fund, LP

UNL

The United States 12 Month Natural Gas Fund, LP ( UNL ) is a Delaware limited partnership organized on June 27, 2007. UNL is a commodity pool that issues limited partnership interests ( shares ) traded on the NYSE Arca, Inc. (the NYSE Arca ).

Valuation & Multiples

Based on TTM earnings · Diluted shares

Market Cap–

EPS–

P/E–

Div. Yield–

Net Margin–

P/Book–

United States 12 Month Natural Gas Fund, LP intrinsic value

52-Week Range

$5.16$8.91

Profitability & Returns

TTM as of 2026-06 · YoY vs prior year · ROIC = NOPAT / invested capital

Revenue (TTM)

-$4M

▲ +20.5% YoY

Net Income (TTM)

-$5M

▲ +20.3% YoY

Net Margin

–

P/E

–

Balance Sheet

Traditional FCF and net-debt metrics are not meaningful for financial institutions · Balance sheet from latest filing

Total Assets

$17M

Equity

N/A

Total Debt

$0.00

Cash & Equiv.

$16M

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Quality Scorecard

Is this a high-quality business?

Dividends

Payout safety and growth

Intrinsic Value

What is it worth?

Financials

Full income, cash flow, balance sheet

Peers

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United States 12 Month Natural Gas Fund, LP (UNL) in two numbers

Quality score: 15/100; Best check: margin trend, +14.5pp.; Quality
Dividend: None; No dividend in the SEC filings we hold.; Dividends

Questions about United States 12 Month Natural Gas Fund, LP

Is United States 12 Month Natural Gas Fund, LP a high-quality business?

United States 12 Month Natural Gas Fund, LP scores 15 out of 100 on Intrinsiqq's quality score, which makes it a lower-quality business on these measures. The score blends 1 checks computed from SEC filings. Its best check is margin trend at +14.5pp. The Quality tab shows every check against its target.

Does United States 12 Month Natural Gas Fund, LP (UNL) pay a dividend?

No. United States 12 Month Natural Gas Fund, LP (UNL) does not pay a dividend, and no dividend payment appears anywhere in the filing history we hold. Nor has its share count fallen meaningfully over the last twelve months, so cash is kept in the business. The Dividends tab shows its cash returns.

Source: 10-Q filed 7 Aug 2026 (period ending 30 Jun 2026), SEC. Price: last close 4 Nov 2026. How this is calculated. Sector medians are approximate S&P 500 benchmarks and update periodically. Analysis, not investment advice.

Spot a number that looks wrong? Check it in UNL's SEC filings or

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Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.

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