2024–2025 (latest 2 aligned FYs; v3 window cap 5): revenue $285M to $235M, decreasing; diluted EPS 0.00 to -0.00, decreasing. Two-year history is scoreable but carries less confidence than a full-cycle record.
15
Median gross margin 12.0% over 2y, stable.
83
Median ROIC 163.4%, above the 12% hurdle in 50% of years.
55
Net cash position — no leverage risk.
44
Owner earnings changed trend unclear over up to the ten most recent annual observations.
Price vs. value if growth stopped today
A cautious baseline, not a price target: what the shares may support if normalized owner earnings simply hold steady.
Above value if growth stopped todayBelow value if growth stopped today
No price data
Not reported
Unavailable — insufficient owner-earnings data
Unavailable — insufficient growth-model data
$0.00
No price data
This zero-growth estimate assumes trailing owner earnings persist — unreliable for declining businesses. Flag status unavailable — four adjacent recent FY revenue observations are required.
Among the current top-score group, the median current price is 238% above the zero-growth estimate across 49 of the current top 50 companies by Moat Score with both values.
Missing a usable price or zero-growth estimate: ANF.
Model details under moat-index@3.0.0: zero-growth multiple 11.1×, capped-growth comparison at no more than 18×; 9% discount rate; high-end growth 0% (capped at 4%) using min(5y revenue CAGR, 5y diluted-EPS CAGR), clamped to 0%–4%; maintenance capex uses min(capex, D&A); abstain when D&A is unavailable. This is a disclosed model range, not intrinsic value as fact.
27 years of fundamentals
The business, in plain English
Athena Bitcoin Global booked $235M of revenue in FY2025 in the Other sector and kept 10.6% of it as gross profit — a thin-margin business by that measure. After every other cost, −2.6% of each revenue dollar reached the bottom line.
The balance sheet carried $8.7M of total debt in FY2025. Balance-Sheet Safety scores it 55/100.
Put together: Returns on Capital is the strongest of the five filters (83/100) and Business Trend the weakest (0/100), which is how ABIT lands at 39/100 — a None moat.
This breakdown is generated from the filed numbers and sub-scores above — no outside narrative, no estimates. Where a filing doesn’t disclose an input, the sentence that would need it is omitted instead of guessed.
FY1984–FY2025 · 27 fiscal years, normalized from ABIT’s SEC filings
Sales, as filed$235M FY2025Revenue kept after cost of goods10.6% FY2025Standard ROIC or separately labeled Operating ROICStandard ROIC 10.9% FY2025
Exact FY and FY-1 financing invested-capital inputs are required.
Cash an owner could take out−$6M FY2025
The explained ROIC gaps have filed inputs but no meaningful positive invested-capital denominator. Other gaps mean the item is not in the filings for that year. The series is never interpolated or estimated. The Table view lists every filed value, including operating and net margins, total debt, and share count.
Flagship explainer
How Athena Bitcoin Global makes its money
Start with a dollar of revenue and follow what the filing says remains.
Honest partial: the filing did not provide a normalized tag for Research and development, Selling, general and administrative; those components are omitted, not plugged.
· event Dec 31, 2025 · retrieved Sep 4, 2026 · annual-row source set
Curated 19-manager tier
Who reported holding Athena Bitcoin Global
Delayed public 13F reports for 2026-Q2—not live positions, trades, or recommendations.
0 holding0 exited0 not holding0/19 resolved19 not retrieved
Named manager positions and quarter-over-quarter changes
Manager
Reported position
Quarter-over-quarter
Filing accession
Abrams Capital
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Akre Capital
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Baupost Group
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Berkshire Hathaway
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Brave Warrior Advisors
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Dodge & Cox
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First Eagle
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Fundsmith
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Gardner Russo & Quinn
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Gates Foundation Trust
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Mairs & Power
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Markel / Markel-Gayner
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Oakmark / Harris Associates
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Pershing Square
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Polen Capital
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Sequoia / Ruane Cunniff
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Southeastern Asset Management
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Tweedy, Browne
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Yacktman Asset Management
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Position size uses shares and filed value from each manager’s 13F. Portfolio weight uses the eligible long-share filing denominator. Changes compare only with the immediately preceding calendar quarter.
Source: Filing source not retrieved · event Jun 30, 2026 · retrieved Sep 4, 2026
Flagship explainer
What Athena Bitcoin Global insiders reported
Records still being gathered — partial as of retrieval Sep 5, 2026.
Partial coverage: the incomplete Form 4 walk cannot establish no activity, an activity date, or zero counts.
Moat Score history
1 logged reading since Sep 4, 2026 · append-only, never rewritten
Moat Score over timeLast scored reading of each day, on the 0–100 scale39.4 / 100
Score history begins Sep 4, 2026 — the record builds forward from here.
Tier changesSame-methodology and same-normalizer crossings of the Wide / Narrow / Shallow bars
None yet — ABIT has read No moat for every logged capture since Sep 4, 2026.
Scores are logged append-only and never overwritten — this record cannot be reconstructed retroactively, which is exactly why it’s worth keeping.
Insider activity
Form 4 reports mix P/S market or private transactions with compensation-plan mechanics. Activity casually described as “insider selling” can include compensation mechanics; awards, tax withholding, and option exercises are shown by their exact filed class here, never collapsed into “Bought” or “Sold.”
These are disclosed filing facts and arithmetic aggregates, not a signal or verdict.
This machine-readable surface covers SEC ownership filings from 2003; it does not represent earlier paper-era records.
Records still being gathered — partial as of retrieval Sep 5, 2026.
1 filing was skipped because the SEC primary document returned 404; the omission is disclosed and aggregates are withheld.
Trailing-12-month totals and the 90-day cluster result are withheld because this issuer walk is incomplete.
No reported Form 4 rows were captured for ABIT; the incomplete walk cannot establish zero activity, zero counts, or a negative cluster result.
A filing source-event date will appear when a Form 4 row is captured.
Retrieved .
Other context
#61 of 99 scored Other companies, ranked by Moat Score.
Based on its FY2025 SEC filings, the Moat Index scores Athena Bitcoin Global (ABIT) 39.4 out of 100 — below the Shallow-moat bar, so no moat. The five questions behind that score begin at 20% each; if exactly one genuinely lacks data, the other four weights are renormalized and disclosed. revenue and EPS trend 0, pricing power 15, returns on capital 83, balance-sheet safety 55, capital allocation 44.
How has ABIT's Moat Score changed over time?
The record logs 1 reading since Sep 4, 2026; the latest reads 39.4 out of 100 (no moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.
Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell ABIT. See the disclaimer.