Does AeroVironment Inc have an economic moat?

Based on its FY2026 SEC filings, the Moat Index scores AeroVironment Inc (AVAV) 34.2 out of 100 — below the Shallow-moat bar, so no moat. The four filters behind that score (each 0–100): pricing power 55, returns on capital 11, balance-sheet safety 28, capital discipline 44.

Is AVAV stock trading below its intrinsic value?

Against a deliberately conservative owner-earnings model (9% discount rate, 0% assumed growth, capped at 4%), estimated intrinsic value is $7.54 per share versus a recent price of $142.20 — 1786% above value. This is an educational estimate computed from primary SEC filings, not investment advice.

How has AVAV's Moat Score changed over time?

The record logs 3 readings since Jul 17, 2026; the latest reads 34.2 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

AeroVironment Inc

AVAV · Consumer Discretionary · $7.2B mkt cap · FY2026 filings · No moat ·

Doesn't clear the bar

No moat

The four filters

Pricing power55

Median gross margin 39.9% over 10y, stable.

Returns on capital11

Median ROIC 5.9%, above the 9% hurdle in 20% of years.

Balance-sheet safety28

Net debt/EBITDA n/ax, interest coverage -13x.

Capital discipline44

Owner earnings trend unclear, share count n/a.

Margin of safety

Above valueOn sale

1786% above value

Owner earnings (normalized): $34.4M
Est. intrinsic value / share: $7.54
Recent price: $142.20
Discount to value: 1786% above value

Conservative model: 9% discount rate, 0% assumed growth (capped at 4%), maintenance capex ≈ min(capex, D&A).

18 years of fundamentals

The business, in plain English

AeroVironment Inc booked $2.0B of revenue in FY2026 in the Consumer Discretionary sector and kept 25.3% of it as gross profit — a moderate-margin business by that measure. After every other cost, −13.4% of each revenue dollar reached the bottom line.

Across the filed record, revenue grew from $249.5M (FY2010) to $2.0B (FY2026) — about 13.8% a year compounded over 16 years.

It earned −5.2% on invested capital in FY2026, with a median of 6.4% across 17 filed years. The Returns on Capital filter above scores it 11/100.

The balance sheet carried $729.0M of total debt in FY2026. Balance-Sheet Safety scores it 28/100.

The share count rose 130.6% between FY2011 and FY2026 — existing owners have been diluted over the record. Capital Discipline scores it 44/100.

Put together: Pricing Power is the strongest of the four filters (55/100) and Returns on Capital the weakest (11/100), which is how AVAV lands at 34/100 — 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$2.0B FY2026

Gross marginRevenue kept after cost of goods25.3% FY2026

Return on invested capitalOperating profit on the capital employed−5.2% FY2026

Owner earningsCash an owner could take out−$62.6M FY2026

Gaps in a line mean that item isn’t in AVAV’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 scale34.2 / 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 — AVAV 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.

Consumer Discretionary context

#251 of 340 scored Consumer Discretionary companies, ranked by Moat Score.

Nearest peers by Moat Score

#249WGO WINNEBAGO INDUSTRIES, INC.34.5 out of 100, No moatNo moat
#250MDLK MODULINK INC.34.4 out of 100, No moatNo moat
#252LEA LEAR CORP34.1 out of 100, No moatNo moat
#253RTB RYVYL INC.33.1 out of 100, No moatNo moat

Compare AVAV with its nearest peers →All Consumer Discretionary companies on the Index →

Common questions about AVAV

Does AeroVironment Inc have an economic moat?: Based on its FY2026 SEC filings, the Moat Index scores AeroVironment Inc (AVAV) 34.2 out of 100 — below the Shallow-moat bar, so no moat. The four filters behind that score (each 0–100): pricing power 55, returns on capital 11, balance-sheet safety 28, capital discipline 44.
Is AVAV stock trading below its intrinsic value?: Against a deliberately conservative owner-earnings model (9% discount rate, 0% assumed growth, capped at 4%), estimated intrinsic value is $7.54 per share versus a recent price of $142.20 — 1786% above value. This is an educational estimate computed from primary SEC filings, not investment advice.
How has AVAV's Moat Score changed over time?: The record logs 3 readings since Jul 17, 2026; the latest reads 34.2 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 AVAV. See the disclaimer.