Does Astec Industries, Inc. have an economic moat?

Based on its FY2025 SEC filings, the Moat Index scores Astec Industries, Inc. (ASTE) 17.9 out of 100 — below the Shallow-moat bar, so no moat. The four filters behind that score (each 0–100): pricing power 25, returns on capital 4, balance-sheet safety 22, capital discipline 26.

Is ASTE stock trading below its intrinsic value?

Against a deliberately conservative owner-earnings model (9% discount rate, 4% assumed growth, capped at 4%), estimated intrinsic value is $20.38 per share versus a recent price of $55.09 — 170% above value. This is an educational estimate computed from primary SEC filings, not investment advice.

How has ASTE's Moat Score changed over time?

The record logs 3 readings since Jul 17, 2026; the latest reads 17.9 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

Astec Industries, Inc.

ASTE · Industrials · $1.3B mkt cap · FY2025 filings · No moat ·

Doesn't clear the bar

No moat

The four filters

Pricing power25

Median gross margin 22.9% over 10y, stable.

Returns on capital4

Median ROIC 4.5%, above the 9% hurdle in 10% of years.

Balance-sheet safety22

Net debt/EBITDA 2.7x, interest coverage 4x.

Capital discipline26

Owner earnings -3.8%/yr, share count flat.

Margin of safety

Above valueOn sale

170% above value

Owner earnings (normalized): $25.9M
Est. intrinsic value / share: $20.38
Recent price: $55.09
Discount to value: 170% above value

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

19 years of fundamentals

The business, in plain English

Astec Industries, Inc. booked $1.4B of revenue in FY2025 in the Industrials sector and kept 26.5% of it as gross profit — a moderate-margin business by that measure. After every other cost, 2.8% of each revenue dollar reached the bottom line.

Across the filed record, revenue grew from $973.7M (FY2008) to $1.4B (FY2025) — about 2.2% a year compounded over 17 years.

It earned 5.0% on invested capital in FY2025, with a median of 5.7% across 18 filed years. The Returns on Capital filter above scores it 4/100.

The balance sheet carried $347.9M of total debt in FY2025 against $38.8M of owner earnings — roughly 9.0 years of owner earnings to retire it all. Balance-Sheet Safety scores it 22/100.

The share count has held roughly flat between FY2007 and FY2025. Capital Discipline scores it 26/100.

Put together: Capital Discipline is the strongest of the four filters (26/100) and Returns on Capital the weakest (4/100), which is how ASTE lands at 18/100 — 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$1.4B FY2025

Gross marginRevenue kept after cost of goods26.5% FY2025

Return on invested capitalOperating profit on the capital employed5.0% FY2025

Owner earningsCash an owner could take out$38.8M FY2025

Gaps in a line mean that item isn’t in ASTE’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 scale17.9 / 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 — ASTE 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.

Industrials context

#273 of 309 scored Industrials companies, ranked by Moat Score.

Nearest peers by Moat Score

#271WOR WORTHINGTON ENTERPRISES, INC18.0 out of 100, No moatNo moat
#272ARTW ARTS WAY MANUFACTURING CO INC17.9 out of 100, No moatNo moat
#274BW BABCOCK & WILCOX ENTERPRISES, INC.17.9 out of 100, No moatNo moat
#275SMHI SEACOR Marine Holdings Inc.17.9 out of 100, No moatNo moat

Compare ASTE with its nearest peers →All Industrials companies on the Index →

Common questions about ASTE

Does Astec Industries, Inc. have an economic moat?: Based on its FY2025 SEC filings, the Moat Index scores Astec Industries, Inc. (ASTE) 17.9 out of 100 — below the Shallow-moat bar, so no moat. The four filters behind that score (each 0–100): pricing power 25, returns on capital 4, balance-sheet safety 22, capital discipline 26.
Is ASTE stock trading below its intrinsic value?: Against a deliberately conservative owner-earnings model (9% discount rate, 4% assumed growth, capped at 4%), estimated intrinsic value is $20.38 per share versus a recent price of $55.09 — 170% above value. This is an educational estimate computed from primary SEC filings, not investment advice.
How has ASTE's Moat Score changed over time?: The record logs 3 readings since Jul 17, 2026; the latest reads 17.9 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 ASTE. See the disclaimer.