United States 12 Month Natural Gas Fund (UNL) Price to FCF (2012 - 2026)
United States 12 Month Natural Gas Fund's (UNL) quarterly Price to FCF came in at 15.24 in Q2 2026, down 73.29% on a YoY basis from 57.05 in Q2 2025, and down 1.33% quarter-over-quarter from 15.04 in Q1 2026.
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United States 12 Month Natural Gas Fund (UNL) Price to FCF (2012 - 2026) Analysis & Trends
United States 12 Month Natural Gas Fund (UNL) has reported Price to FCF for 15 consecutive years, with 15.24 the latest figure, recorded in Q2 2026.
- For the quarter ending Q2 2026, Price to FCF fell 73.29% year-over-year to 15.24; the trailing twelve-month figure through Jun 2026 stood at 6.75 (down 127.2% YoY), and the FY2025 full-year result was 6.31, up 311.03% from the prior year.
- Price to FCF eased to 15.24 in Q2 2026 per UNL's latest filing, from 15.04 in the prior quarter.
- Across five years, Price to FCF topped out at 178.32 in Q2 2024 and bottomed at 82.38 in Q3 2025.
- Historically, Price to FCF has averaged 3.8 across 5 years, with a median of 5.36 in 2023.
- The widest YoY moves for Price to FCF: up 4097.82% in 2024, down 749.65% in 2024.
- Over 5 years, Price to FCF stood at 14.02 in 2022, then surged by 65.14% to 4.89 in 2023, then sank by 749.65% to 41.53 in 2024, then slumped by 74.58% to 72.5 in 2025, then jumped by 78.98% to 15.24 in 2026.
- According to Business Quant data, Price to FCF over the past three periods registered 15.24, 15.04, and 72.5 for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | BlackRock | 169.89 Bn | 156.02 Bn | - |
| 2 | Spdr Gold Trust | 144.81 Bn | -413.20 Bn | - |
| 3 | Ishares Gold Trust | 30.30 Bn | -29.81 Bn | - |
| 4 | World Gold Trust | 29.28 Bn | -73.79 Bn | - |
| 5 | Principal Financial | 24.84 Bn | -28.13 Bn | 1.91 Bn |
| 6 | iShares Silver Trust | 22.15 Bn | -6.05 Bn | - |
| 7 | Franklin Resources | 17.84 Bn | 14.12 Bn | - |
| 8 | Invesco | 14.63 Bn | 13.72 Bn | 1.79 Bn |
| 9 | Affiliated Managers | 9.51 Bn | 9.10 Bn | - |
| 10 | United States 12 Month Natural Gas Fund | 14.88 Mn | -4.07 Mn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -15.24 |
| Mar 31, 2026 | -15.04 |
| Dec 31, 2025 | -72.50 |
| Sep 30, 2025 | -82.38 |
| Jun 30, 2025 | -8.79 |
| Mar 31, 2025 | 5.43 |
| Dec 31, 2024 | -41.53 |
| Sep 30, 2024 | -15.81 |
| Jun 30, 2024 | 178.32 |
| Mar 31, 2024 | -3.82 |
| Dec 31, 2023 | -4.89 |
| Sep 30, 2023 | -5.83 |
| Jun 30, 2023 | -4.46 |
| Mar 31, 2023 | -2.03 |
| Dec 31, 2022 | -14.02 |
| Sep 30, 2022 | 7.45 |
| Jun 30, 2022 | 23.46 |
| Mar 31, 2022 | 3.22 |
| Dec 31, 2021 | -5.76 |
| Sep 30, 2021 | 4.03 |