Does MISSION PRODUCE, INC. have an economic moat?

Based on its FY2025 SEC filings, the Moat Index scores MISSION PRODUCE, INC. (AVO) 21.8 out of 100 — below the Shallow-moat bar, so no moat. The four filters behind that score (each 0–100): pricing power 5, returns on capital 13, balance-sheet safety 62, capital discipline 20.

Is AVO 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 $5.94 per share versus a recent price of $13.59 — 129% above value. This is an educational estimate computed from primary SEC filings, not investment advice.

How has AVO's Moat Score changed over time?

The record logs 3 readings since Jul 17, 2026; the latest reads 21.8 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

MISSION PRODUCE, INC.

AVO · Agriculture · $959.0M mkt cap · FY2025 filings · No moat ·

Doesn't clear the bar

No moat

The four filters

Pricing power5

Median gross margin 12.4% over 7y, variable.

Returns on capital13

Median ROIC 6.8%, above the 9% hurdle in 14% of years.

Balance-sheet safety62

Net debt/EBITDA 0.4x, interest coverage 7x.

Capital discipline20

Owner earnings -10.2%/yr, share count flat.

Margin of safety

Above valueOn sale

129% above value

Owner earnings (normalized): $37.7M
Est. intrinsic value / share: $5.94
Recent price: $13.59
Discount to value: 129% above value

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

8 years of fundamentals

The business, in plain English

MISSION PRODUCE, INC. booked $1.4B of revenue in FY2025 in the Agriculture sector and kept 11.6% of it as gross profit — a thin-margin business by that measure. After every other cost, 2.7% of each revenue dollar reached the bottom line.

Across the filed record, revenue grew from $883.3M (FY2019) to $1.4B (FY2025) — about 7.9% a year compounded over 6 years.

It earned 6.8% on invested capital in FY2025, with a median of 6.8% across 7 filed years. The Returns on Capital filter above scores it 13/100.

The balance sheet carried $100.3M of total debt in FY2025 against $37.7M of owner earnings — roughly 2.7 years of owner earnings to retire it all. Balance-Sheet Safety scores it 62/100.

The share count has held roughly flat between FY2020 and FY2025. Capital Discipline scores it 20/100.

Put together: Balance-Sheet Safety is the strongest of the four filters (62/100) and Pricing Power the weakest (5/100), which is how AVO 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$1.4B FY2025

Gross marginRevenue kept after cost of goods11.6% FY2025

Return on invested capitalOperating profit on the capital employed6.8% FY2025

Owner earningsCash an owner could take out$37.7M FY2025

Gaps in a line mean that item isn’t in AVO’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 scale21.8 / 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 — AVO 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.

Agriculture context

#7 of 12 scored Agriculture companies, ranked by Moat Score.

Nearest peers by Moat Score

#5DMC FRESH DEL MONTE PRODUCE INC25.6 out of 100, No moatNo moat
#6NCRA NOCERA, INC.22.1 out of 100, No moatNo moat
#8BV BrightView Holdings, Inc.17.8 out of 100, No moatNo moat
#9RYM RYTHM INC.15.8 out of 100, No moatNo moat

Compare AVO with its nearest peers →All Agriculture companies on the Index →

Common questions about AVO

Does MISSION PRODUCE, INC. have an economic moat?: Based on its FY2025 SEC filings, the Moat Index scores MISSION PRODUCE, INC. (AVO) 21.8 out of 100 — below the Shallow-moat bar, so no moat. The four filters behind that score (each 0–100): pricing power 5, returns on capital 13, balance-sheet safety 62, capital discipline 20.
Is AVO 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 $5.94 per share versus a recent price of $13.59 — 129% above value. This is an educational estimate computed from primary SEC filings, not investment advice.
How has AVO's Moat Score changed over time?: The record logs 3 readings since Jul 17, 2026; the latest reads 21.8 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 AVO. See the disclaimer.