Does ABM INDUSTRIES INCORPORATED have an economic moat?

Based on its FY2025 SEC filings, the Moat Index scores ABM INDUSTRIES INCORPORATED (ABM) 22.3 out of 100 — below the Shallow-moat bar, so no moat. The four filters behind that score (each 0–100): pricing power 19, returns on capital 8, balance-sheet safety 10, capital discipline 62.

Is ABM stock trading below its intrinsic value?

Against a deliberately conservative owner-earnings model (9% discount rate, 1% assumed growth, capped at 4%), estimated intrinsic value is $38.82 per share versus a recent price of $47.58 — 23% above value. This is an educational estimate computed from primary SEC filings, not investment advice.

How has ABM's Moat Score changed over time?

The record logs 3 readings since Jul 17, 2026; the latest reads 22.3 out of 100 (no moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

The Moat Index

ABM INDUSTRIES INCORPORATED

ABM · Technology · $2.9B mkt cap · FY2025 filings · No moat ·

Doesn't clear the bar

No moat

The four filters

Pricing power19

Median gross margin 12.4% over 9y, stable.

Returns on capital8

Median ROIC 5.9%, above the 9% hurdle in 10% of years.

Balance-sheet safety10

Net debt/EBITDA 3.5x, interest coverage 3x.

Capital discipline62

Owner earnings +11.5%/yr, share count growing (dilution).

Margin of safety

Above valueOn sale

23% above value

Owner earnings (normalized): $188.7M
Est. intrinsic value / share: $38.82
Recent price: $47.58
Discount to value: 23% above value

Conservative model: 9% discount rate, 1% assumed growth (capped at 4%), maintenance capex ≈ min(capex, D&A).

19 years of fundamentals

The business, in plain English

ABM INDUSTRIES INCORPORATED booked $8.7B of revenue in FY2025 in the Technology sector and kept 12.3% of it as gross profit — a thin-margin business by that measure. After every other cost, 1.9% of each revenue dollar reached the bottom line.

Across the filed record, revenue grew from $5.5B (FY2017) to $8.7B (FY2025) — about 6.1% a year compounded over 8 years.

It earned 7.1% on invested capital in FY2025, with a median of 7.5% across 18 filed years. The Returns on Capital filter above scores it 8/100.

The balance sheet carried $1.6B of total debt in FY2025 against $188.7M of owner earnings — roughly 8.3 years of owner earnings to retire it all. Balance-Sheet Safety scores it 10/100.

The share count rose 14.3% between FY2010 and FY2025 — existing owners have been diluted over the record. Capital Discipline scores it 62/100.

Put together: Capital Discipline is the strongest of the four filters (62/100) and Returns on Capital the weakest (8/100), which is how ABM lands at 22/100 — 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.

RevenueSales, as filed$8.7B FY2025

Gross marginRevenue kept after cost of goods12.3% FY2025

Return on invested capitalOperating profit on the capital employed7.1% FY2025

Owner earningsCash an owner could take out$188.7M FY2025

Gaps in a line mean that item isn’t in ABM’s 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.

Moat Score history

Moat Score over timeLast scored reading of each day, on the 0–100 scale22.3 / 100

Score history begins Jul 17, 2026 — the record builds from here and can’t be backfilled.

Tier changesSame-methodology crossings of the Wide / Narrow / Shallow bars

None yet — ABM has read No moat for every logged capture since Jul 17, 2026.

Scores are logged append-only and never overwritten — this record can’t be backfilled, which is exactly why it’s worth keeping.

Technology context

#474 of 532 scored Technology companies, ranked by Moat Score.

Nearest peers by Moat Score

#472KOPN KOPIN CORPORATION22.4 out of 100, No moatNo moat
#473NLST NETLIST INC22.4 out of 100, No moatNo moat
#475AIMD AINOS, INC.22.2 out of 100, No moatNo moat
#476ADTN ADTRAN Holdings, Inc.21.7 out of 100, No moatNo moat

Compare ABM with its nearest peers →All Technology companies on the Index →

Common questions about ABM

Does ABM INDUSTRIES INCORPORATED have an economic moat?: Based on its FY2025 SEC filings, the Moat Index scores ABM INDUSTRIES INCORPORATED (ABM) 22.3 out of 100 — below the Shallow-moat bar, so no moat. The four filters behind that score (each 0–100): pricing power 19, returns on capital 8, balance-sheet safety 10, capital discipline 62.
Is ABM stock trading below its intrinsic value?: Against a deliberately conservative owner-earnings model (9% discount rate, 1% assumed growth, capped at 4%), estimated intrinsic value is $38.82 per share versus a recent price of $47.58 — 23% above value. This is an educational estimate computed from primary SEC filings, not investment advice.
How has ABM's Moat Score changed over time?: The record logs 3 readings since Jul 17, 2026; the latest reads 22.3 out of 100 (no moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

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Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell ABM. See the disclaimer.