ProShares UltraShort Bloomberg Natrl Gas Financials
KOLD
Source SEC Filings (10-K/10-Q)Updated Dec 31, 2025Currency USDFYE December
This page shows ProShares UltraShort Bloomberg Natrl Gas (KOLD) financial statements, including the
income statement, balance sheet, cash flow statement, and key financial ratios.
View 13 years of annual fundamentals and quarterly data, with year-over-year
growth rates and compound annual growth rates (CAGR).
All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Piotroski F-ScoreWeak
2/9
ProShares UltraShort Bloomberg Natrl Gas passes 2 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).
Earnings QualityLow Quality
-0.14x
For every $1 of reported earnings, ProShares UltraShort Bloomberg Natrl Gas generates $-0.14 in operating cash flow (-$246.3M OCF vs $1.7B net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
ProShares UltraShort Bloomberg Natrl Gas reported $1.7B in net income in fiscal year 2025. This represents an increase of 4448.1% from the prior year.
EPS (Diluted)
N/A
Cash & Balance Sheet
Free Cash Flow
N/A
Cash & Debt
$3.3B
YoY+26.1%
5Y CAGR-0.0%
10Y CAGR+52.4%
ProShares UltraShort Bloomberg Natrl Gas held $3.3B in cash against $0 in long-term debt as of fiscal year 2025.
Dividends Per Share
N/A
Shares Outstanding
124M
YoY+43.4%
5Y CAGR-1.0%
10Y CAGR+3.5%
ProShares UltraShort Bloomberg Natrl Gas had 124M shares outstanding in fiscal year 2025. This represents an increase of 43.4% from the prior year.
Margins & Returns
Gross Margin
N/A
Operating Margin
N/A
Net Margin
N/A
Return on Equity
29.9%
YoY+31.2pp
5Y CAGR+58.6pp
10Y CAGR+65.4pp
ProShares UltraShort Bloomberg Natrl Gas's ROE was 29.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 31.2 percentage points from the prior year.
Capital Allocation
R&D Spending
N/A
Share Buybacks
$13.0B
YoY+48.0%
5Y CAGR+8.8%
10Y CAGR+5.7%
ProShares UltraShort Bloomberg Natrl Gas spent $13.0B on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 48.0% from the prior year.
Capital Expenditures
N/A
KOLD Income Statement
Metric
FY25
FY24
FY23
FY22
FY21
FY20
Revenue
N/A
N/A
N/A
N/A
N/A
N/A
Cost of Revenue
N/A
N/A
N/A
N/A
N/A
N/A
Gross Profit
N/A
N/A
N/A
N/A
N/A
N/A
R&D Expenses
N/A
N/A
N/A
N/A
N/A
N/A
SG&A Expenses
N/A
N/A
N/A
N/A
N/A
N/A
Operating Income
N/A
N/A
N/A
N/A
N/A
N/A
Interest Expense
N/A
N/A
N/A
N/A
N/A
N/A
Income Tax
N/A
N/A
N/A
N/A
N/A
N/A
Net Income
$1.7B+4448.1%
-$39.4M+98.4%
-$2.5B-2690.7%
$95.8M+105.7%
-$1.7B-31.4%
-$1.3B
EPS (Diluted)
N/A
N/A
N/A
N/A
N/A
N/A
Metric
Q4'25
Q3'25
Q2'25
Q1'25
Q4'24
Q3'24
Q2'24
Q1'24
Revenue
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Cost of Revenue
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Gross Profit
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
R&D Expenses
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
SG&A Expenses
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Operating Income
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Interest Expense
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Income Tax
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Net Income
N/A
$76.1M-55.5%
$171.2M-60.0%
$427.6M
N/A
-$11.7M-104.9%
$240.1M+203.7%
-$231.6M
EPS (Diluted)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
KOLD Balance Sheet
Metric
FY25
FY24
FY23
FY22
FY21
FY20
Total Assets
$6.1B+92.4%
$3.2B-6.5%
$3.4B-14.6%
$3.9B-7.3%
$4.3B-6.0%
$4.5B
Current Assets
N/A
N/A
N/A
N/A
N/A
N/A
Cash & Equivalents
$3.3B+26.1%
$2.6B-0.8%
$2.6B+14.1%
$2.3B+55.1%
$1.5B-54.9%
$3.3B
Inventory
N/A
N/A
N/A
N/A
N/A
N/A
Accounts Receivable
N/A
N/A
N/A
N/A
N/A
N/A
Goodwill
N/A
N/A
N/A
N/A
N/A
N/A
Total Liabilities
$338.9M+167.3%
$126.8M+45.1%
$87.4M+47.9%
$59.1M-30.1%
$84.6M+52.4%
$55.5M
Current Liabilities
N/A
N/A
N/A
N/A
N/A
N/A
Long-Term Debt
N/A
N/A
N/A
N/A
N/A
N/A
Total Equity
$5.7B+89.2%
$3.0B-7.8%
$3.3B-15.6%
$3.9B-6.8%
$4.2B-6.7%
$4.5B
Retained Earnings
N/A
N/A
N/A
N/A
N/A
N/A
Metric
Q4'25
Q3'25
Q2'25
Q1'25
Q4'24
Q3'24
Q2'24
Q1'24
Total Assets
$6.1B+31.2%
$4.6B+21.4%
$3.8B+1.8%
$3.7B+18.6%
$3.2B-11.9%
$3.6B+8.2%
$3.3B+5.5%
$3.1B
Current Assets
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Cash & Equivalents
$3.3B+50.4%
$2.2B-35.2%
$3.3B+59.2%
$2.1B-18.7%
$2.6B+45.1%
$1.8B+14.7%
$1.5B-16.1%
$1.8B
Inventory
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Accounts Receivable
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Goodwill
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Total Liabilities
$338.9M+235.3%
$101.1M-35.1%
$155.6M-5.5%
$164.7M+29.9%
$126.8M+15.6%
$109.7M-41.4%
$187.3M+294.0%
$47.5M
Current Liabilities
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Long-Term Debt
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Total Equity
$5.7B+26.6%
$4.5B+23.8%
$3.7B+2.2%
$3.6B+18.1%
$3.0B-12.8%
$3.5B+11.2%
$3.1B+1.1%
$3.1B
Retained Earnings
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
KOLD Cash Flow Statement
Metric
FY25
FY24
FY23
FY22
FY21
FY20
Operating Cash Flow
-$246.3M-218.0%
$208.8M+113.6%
-$1.5B-232.7%
$1.2B+136.2%
-$3.2B-145.3%
-$1.3B
Capital Expenditures
N/A
N/A
N/A
N/A
N/A
N/A
Free Cash Flow
N/A
N/A
N/A
N/A
N/A
N/A
Investing Cash Flow
N/A
N/A
N/A
N/A
N/A
N/A
Financing Cash Flow
$919.6M+501.5%
-$229.1M-112.3%
$1.9B+629.0%
-$351.9M-124.8%
$1.4B-58.0%
$3.4B
Dividends Paid
N/A
N/A
N/A
N/A
N/A
N/A
Share Buybacks
$13.0B+48.0%
$8.8B-4.4%
$9.2B-27.6%
$12.7B+95.6%
$6.5B-24.0%
$8.5B
Metric
Q4'25
Q3'25
Q2'25
Q1'25
Q4'24
Q3'24
Q2'24
Q1'24
Operating Cash Flow
$1.0B+150.0%
-$2.0B-236.9%
$1.5B+308.0%
-$718.9M-156.4%
$1.3B+713.7%
-$207.6M-51.9%
-$136.6M+81.0%
-$721.0M
Capital Expenditures
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Free Cash Flow
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Investing Cash Flow
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Financing Cash Flow
$65.5M-92.5%
$874.4M+441.2%
-$256.3M-208.6%
$235.9M+149.8%
-$473.4M-208.6%
$435.8M+372.1%
-$160.1M-412.6%
-$31.2M
Dividends Paid
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Share Buybacks
$3.5B+60.5%
$2.2B-47.4%
$4.1B+29.7%
$3.2B+14.1%
$2.8B+16.5%
$2.4B+33.4%
$1.8B+0.5%
$1.8B
KOLD Financial Ratios
Metric
FY25
FY24
FY23
FY22
FY21
FY20
Gross Margin
N/A
N/A
N/A
N/A
N/A
N/A
Operating Margin
N/A
N/A
N/A
N/A
N/A
N/A
Net Margin
N/A
N/A
N/A
N/A
N/A
N/A
Return on Equity
29.9%+31.2pp
-1.3%+74.3pp
-75.6%-78.0pp
2.5%+42.8pp
-40.4%-11.7pp
-28.6%
Return on Assets
28.2%+29.5pp
-1.3%+72.4pp
-73.6%-76.1pp
2.4%+42.0pp
-39.6%-11.3pp
-28.3%
Current Ratio
N/A
N/A
N/A
N/A
N/A
N/A
Debt-to-Equity
0.06+0.0
0.04+0.0
0.03+0.0
0.020.0
0.020.0
0.01
FCF Margin
N/A
N/A
N/A
N/A
N/A
N/A
Metric
Q4'25
Q3'25
Q2'25
Q1'25
Q4'24
Q3'24
Q2'24
Q1'24
Gross Margin
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Operating Margin
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Net Margin
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Return on Equity
N/A
1.7%-3.0pp
4.7%-7.3pp
12.0%
N/A
-0.3%-8.0pp
7.7%+15.2pp
-7.5%
Return on Assets
N/A
1.7%-2.8pp
4.5%-6.9pp
11.4%
N/A
-0.3%-7.6pp
7.3%+14.6pp
-7.4%
Current Ratio
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Debt-to-Equity
0.06+0.0
0.02-0.0
0.040.0
0.050.0
0.04+0.0
0.03-0.0
0.06+0.0
0.02
FCF Margin
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Frequently Asked Questions
Is ProShares UltraShort Bloomberg Natrl Gas profitable?
Yes, ProShares UltraShort Bloomberg Natrl Gas (KOLD) reported a net income of $1.7B in fiscal year 2025.
What is ProShares UltraShort Bloomberg Natrl Gas's return on equity (ROE)?
ProShares UltraShort Bloomberg Natrl Gas (KOLD) has a return on equity of 29.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is ProShares UltraShort Bloomberg Natrl Gas's operating cash flow?
ProShares UltraShort Bloomberg Natrl Gas (KOLD) generated -$246.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are ProShares UltraShort Bloomberg Natrl Gas's total assets?
ProShares UltraShort Bloomberg Natrl Gas (KOLD) had $6.1B in total assets as of fiscal year 2025, including both current and long-term assets.
Does ProShares UltraShort Bloomberg Natrl Gas buy back shares?
Yes, ProShares UltraShort Bloomberg Natrl Gas (KOLD) spent $13.0B on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
How many shares does ProShares UltraShort Bloomberg Natrl Gas have outstanding?
ProShares UltraShort Bloomberg Natrl Gas (KOLD) had 124M shares outstanding as of fiscal year 2025.
What is ProShares UltraShort Bloomberg Natrl Gas's debt-to-equity ratio?
ProShares UltraShort Bloomberg Natrl Gas (KOLD) had a debt-to-equity ratio of 0.06 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is ProShares UltraShort Bloomberg Natrl Gas's return on assets (ROA)?
ProShares UltraShort Bloomberg Natrl Gas (KOLD) had a return on assets of 28.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is ProShares UltraShort Bloomberg Natrl Gas's cash runway?
Based on fiscal year 2025 data, ProShares UltraShort Bloomberg Natrl Gas (KOLD) had $3.3B in cash against an annual operating cash burn of $246.3M. This gives an estimated cash runway of approximately 158 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is ProShares UltraShort Bloomberg Natrl Gas's Piotroski F-Score?
ProShares UltraShort Bloomberg Natrl Gas (KOLD) has a Piotroski F-Score of 2 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are ProShares UltraShort Bloomberg Natrl Gas's earnings high quality?
ProShares UltraShort Bloomberg Natrl Gas (KOLD) has an earnings quality ratio of -0.14x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
