NAPC Defense, Inc.
BLIS · Technology · $2.4M mkt cap · FY2025 filings · No moat ·
Doesn't clear the bar
The five investor questions
2018–2019: revenue 15200.00 to 14150.00, decreasing; diluted EPS 0.00 to 0.00, flat. Latest-filed diluted EPS remains usable for Business Trend, but an integer share-count change lacks enough evidence to confirm a comparable EPS basis; valuation growth therefore stays at 0%. Two-year history is scoreable but carries less confidence than a full-cycle record.
Median gross margin 100.0% over 3y, very stable.
Median ROIC -68.8%, above the 12% hurdle in 0% of years.
Net debt/EBITDA n/ax, interest coverage -35x.
Owner earnings trend unclear, share count n/a.
Price vs. owner-earnings value range
- Owner earnings (normalized)
- —
- Value range / share
- —
- Conservative high estimate / share
- —
- Recent price
- $0.01
- Price vs. high estimate
- No price data
Conservative range under moat-index@2.0.0: low end 11.1×, high end capped at 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.
9 years of fundamentals
The business, in plain English
NAPC Defense, Inc. booked $85000 of revenue in FY2023 in the Technology sector and kept 100.0% of it as gross profit — a high-margin business by that measure. After every other cost, −1107.2% of each revenue dollar reached the bottom line.
It earned −39.3% on invested capital in FY2024, with a median of −68.8% across 3 filed years. The Returns on Capital filter above scores it 0/100.
The balance sheet carried $22925 of total debt in FY2025. Balance-Sheet Safety scores it 28/100.
The share count rose 7841.7% between FY2017 and FY2025 — existing owners have been diluted over the record. Capital Discipline scores it 44/100.
Put together: Pricing Power is the strongest of the five filters (100/100) and Returns on Capital the weakest (0/100), which is how BLIS lands at 38/100 — 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.
Gaps in a line mean that item isn’t in BLIS’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
Tier changesSame-methodology crossings of the Wide / Narrow / Shallow bars
- Methodology upgraded moat-index@1.2.0tomoat-index@2.0.0 — readings across versions aren’t comparedJul 20, 2026
Scores are logged append-only and never overwritten — this record can’t be backfilled, which is exactly why it’s worth keeping.
Track record
How NAPC Defense, Inc.’s moat rated in each of the years we can reconstruct from its filings — scored only on what was knowable at the time — and what its price and returns did afterward. The score never saw a price; the two are joined only in hindsight, for education, not as a signal.
How to read this: each dot is what the engine would have scored BLIS on that December 31; the line below is its total-return price path (dividends reinvested) in the years since.
Two tracks, one timeline: the score has its own 0–100 scale (top), the price its own 100-based scale (bottom) — never a shared axis. The price path is a total-return (dividends reinvested) index built from the same data the forward returns use; gaps in the score line are years with no reconstructed rating (see the table for why). The Table view carries every value.
What followed, in the years it rated Wide
In the reconstructed history shown, BLIS did not rate Wide-moat in any year, so there is no wide-moat track record to report. That absence is itself the honest answer — we don’t manufacture a comparison where the rating never earned one.
Technology context
#495 of 745 scored Technology companies, ranked by Moat Score.
Nearest peers by Moat Score
- #493NVVE NUVVE HOLDING CORP.38.4 out of 100, No moatNo moat
- #494UIS UNISYS CORP38.3 out of 100, No moatNo moat
- #496PL Planet Labs PBC38.3 out of 100, No moatNo moat
- #497DJT Trump Media & Technology Group Corp.38.3 out of 100, No moatNo moat
Compare BLIS with its nearest peers →All Technology companies on the Index →
Common questions about BLIS
- Does NAPC Defense, Inc. have an economic moat?
- Based on its FY2025 SEC filings, the Moat Index scores NAPC Defense, Inc. (BLIS) 38.3 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 20, pricing power 100, returns on capital 0, balance-sheet safety 28, capital discipline 44.
- How has BLIS's Moat Score changed over time?
- The record logs 8 readings since Jul 17, 2026; the latest reads 38.3 out of 100 (no moat). No tier changes on record yet. (A methodology upgrade on Jul 20, 2026 re-based the score; readings across engine versions aren't compared.) The history is append-only — readings are only ever added, never rewritten.