United States Natural Gas Financials
This page shows United States Natural Gas (UNG) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 18 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
United States Natural Gas passes 3 of 9 financial strength tests. 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).
For every $1 of reported earnings, United States Natural Gas generates $3.71 in operating cash flow ($127.1M OCF vs $34.2M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
United States Natural Gas reported $34.2M in net income in fiscal year 2025. This represents a decrease of 47.5% from the prior year.
United States Natural Gas held $438.5M in cash against $0 in long-term debt as of fiscal year 2025.
United States Natural Gas's ROE was 6.2% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 2.5 percentage points from the prior year.
UNG Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $5.4M | N/A | N/A | $210.8M+274.8% | $56.2M+1164.7% | $4.4M-97.5% | $176.6M | 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 | $3.7M+106.6% | -$55.9M+54.4% | -$122.4M-158.6% | $208.8M+288.6% | $53.7M+2720.5% | $1.9M-98.9% | $174.1M+205.8% | -$164.6M |
| EPS (Diluted) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
UNG Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $579.5M-10.9% | $650.7M+73.2% | $375.7M-15.8% | $446.4M-43.5% | $790.0M-15.3% | $932.6M+30.4% | $715.4M-14.9% | $840.5M |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash & Equivalents | $438.5M-9.3% | $483.3M+70.0% | $284.3M-3.5% | $294.6M-50.4% | $593.5M-14.2% | $691.9M+28.2% | $539.7M-0.9% | $544.6M |
| 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 | $28.8M+10.2% | $26.2M+72.8% | $15.1M-40.4% | $25.4M-45.0% | $46.2M+7.9% | $42.8M+1176.5% | $3.4M-66.6% | $10.0M |
| 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 | $550.6M-11.8% | $624.5M+73.2% | $360.5M-14.3% | $420.9M-43.4% | $743.8M-16.4% | $889.8M+25.0% | $712.1M-14.3% | $830.5M |
| Retained Earnings | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
UNG Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $34.3M+139.0% | -$87.9M-0.8% | -$87.2M-132.5% | $267.9M+210.5% | $86.3M+148.0% | -$179.9M-178.0% | $230.7M+357.6% | -$89.5M |
| 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 | -$102.2M-129.5% | $346.0M+741.5% | $41.1M+108.0% | -$512.3M-125.1% | -$227.7M-194.1% | $242.0M+182.1% | -$294.9M-1472.7% | -$18.7M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
UNG Financial Ratios
| 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 | 68.9% | N/A | N/A | 99.1%+3.5pp | 95.5%+52.7pp | 42.8%-55.7pp | 98.6% | N/A |
| Return on Equity | 0.7%+9.6pp | -8.9%+25.0pp | -34.0%-83.6pp | 49.6%+42.4pp | 7.2%+7.0pp | 0.2%-24.2pp | 24.4%+44.3pp | -19.8% |
| Return on Assets | 0.6%+9.2pp | -8.6%+24.0pp | -32.6%-79.4pp | 46.8%+40.0pp | 6.8%+6.6pp | 0.2%-24.1pp | 24.3%+43.9pp | -19.6% |
| Current Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt-to-Equity | 0.05+0.0 | 0.040.0 | 0.04-0.0 | 0.060.0 | 0.06+0.0 | 0.05+0.0 | 0.000.0 | 0.01 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Frequently Asked Questions
Is United States Natural Gas profitable?
Yes, United States Natural Gas (UNG) reported a net income of $34.2M in fiscal year 2025.
What is United States Natural Gas's return on equity (ROE)?
United States Natural Gas (UNG) has a return on equity of 6.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is United States Natural Gas's operating cash flow?
United States Natural Gas (UNG) generated $127.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are United States Natural Gas's total assets?
United States Natural Gas (UNG) had $579.5M in total assets as of fiscal year 2025, including both current and long-term assets.
What is United States Natural Gas's debt-to-equity ratio?
United States Natural Gas (UNG) had a debt-to-equity ratio of 0.05 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is United States Natural Gas's return on assets (ROA)?
United States Natural Gas (UNG) had a return on assets of 5.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is United States Natural Gas's Piotroski F-Score?
United States Natural Gas (UNG) has a Piotroski F-Score of 3 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 United States Natural Gas's earnings high quality?
United States Natural Gas (UNG) has an earnings quality ratio of 3.71x, considered cash-backed (high quality). 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.