Does COEUR MINING, INC. have an economic moat?

Based on its FY2025 SEC filings, the Moat Index scores COEUR MINING, INC. (CDE) 56.7 out of 100 — a Shallow moat. The four filters behind that score (each 0–100): pricing power 65, returns on capital 18, balance-sheet safety 100, capital discipline 60.

How has CDE's Moat Score changed over time?

The record logs 3 readings since Jul 17, 2026; the latest reads 56.7 out of 100 (shallow moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

The Moat Index

COEUR MINING, INC.

CDE · Materials · $9.2B mkt cap · FY2025 filings · Shallow moat ·

Doesn't clear the bar

Shallow moat

The four filters

Pricing power65

Median gross margin 39.7% over 2y, very stable.

Returns on capital18

Median ROIC 3.7%, above the 9% hurdle in 50% of years.

Balance-sheet safety100

Net cash position — no leverage risk.

Capital discipline60

Owner earnings +25.9%/yr, share count growing (dilution).

Margin of safety

Above valueOn sale

No price data

Owner earnings (normalized): —
Est. intrinsic value / share: —
Recent price: $14.35
Discount to value: No price data

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

19 years of fundamentals

The business, in plain English

Across the filed record, revenue grew from $129.3M (FY2008) to $2.1B (FY2025) — about 17.7% a year compounded over 17 years.

It earned 21.9% on invested capital in FY2025, with a median of 1.2% across 10 filed years. The Returns on Capital filter above scores it 18/100.

The balance sheet carried $17.0M of total debt in FY2025 against $615.8M of owner earnings — roughly 0.0 years of owner earnings to retire it all. Balance-Sheet Safety scores it 100/100.

The share count rose 618.9% between FY2010 and FY2025 — existing owners have been diluted over the record. Capital Discipline scores it 60/100.

Put together: Balance-Sheet Safety is the strongest of the four filters (100/100) and Returns on Capital the weakest (18/100), which is how CDE lands at 57/100 — a Shallow 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$2.1B FY2025

Gross marginRevenue kept after cost of goods38.0% FY2017

Return on invested capitalOperating profit on the capital employed21.9% FY2025

Owner earningsCash an owner could take out$615.8M FY2025

Gaps in a line mean that item isn’t in CDE’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 scale56.7 / 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 — CDE has read Shallow 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.

Materials context

#58 of 214 scored Materials companies, ranked by Moat Score.

Nearest peers by Moat Score

#56ECL ECOLAB INC.58.1 out of 100, Shallow moatShallow moat
#57CBT Cabot Corporation57.0 out of 100, Shallow moatShallow moat
#59ELF e.l.f. Beauty, Inc.55.7 out of 100, Shallow moatShallow moat
#60AVNT AVIENT CORPORATION54.9 out of 100, Shallow moatShallow moat

Compare CDE with its nearest peers →All Materials companies on the Index →

Common questions about CDE

Does COEUR MINING, INC. have an economic moat?: Based on its FY2025 SEC filings, the Moat Index scores COEUR MINING, INC. (CDE) 56.7 out of 100 — a Shallow moat. The four filters behind that score (each 0–100): pricing power 65, returns on capital 18, balance-sheet safety 100, capital discipline 60.
How has CDE's Moat Score changed over time?: The record logs 3 readings since Jul 17, 2026; the latest reads 56.7 out of 100 (shallow 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 CDE. See the disclaimer.