Does Central Garden & Pet Company have an economic moat?

Based on its FY2025 SEC filings, the Moat Index scores Central Garden & Pet Company (CENT) 51.2 out of 100 — a Shallow moat. The four filters behind that score (each 0–100): pricing power 53, returns on capital 46, balance-sheet safety 48, capital discipline 60.

Is CENT 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 $43.90 per share versus a recent price of $43.61 — around fair value. This is an educational estimate computed from primary SEC filings, not investment advice.

How has CENT's Moat Score changed over time?

The record logs 3 readings since Jul 17, 2026; the latest reads 51.2 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

Central Garden & Pet Company

CENT · Industrials · $2.8B mkt cap · FY2025 filings · Shallow moat ·

Doesn't clear the bar

Shallow moat

The four filters

Pricing power53

Median gross margin 29.6% over 10y, very stable.

Returns on capital46

Median ROIC 10.0%, above the 9% hurdle in 70% of years.

Balance-sheet safety48

Net debt/EBITDA 0.9x, interest coverage 4x.

Capital discipline60

Owner earnings +15.4%/yr, share count growing (dilution).

Margin of safety

Above valueOn sale

Around fair value

Owner earnings (normalized): $155.7M
Est. intrinsic value / share: $43.90
Recent price: $43.61
Discount to value: Around fair value

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

18 years of fundamentals

The business, in plain English

Central Garden & Pet Company booked $3.1B of revenue in FY2025 in the Industrials sector and kept 31.9% of it as gross profit — a moderate-margin business by that measure. After every other cost, 5.2% of each revenue dollar reached the bottom line.

Across the filed record, revenue grew from $1.6B (FY2009) to $3.1B (FY2025) — about 4.2% a year compounded over 16 years.

It earned 10.0% on invested capital in FY2025, with a median of 8.5% across 17 filed years. The Returns on Capital filter above scores it 46/100.

The balance sheet carried $1.2B of total debt in FY2025 against $206.3M of owner earnings — roughly 5.8 years of owner earnings to retire it all. Balance-Sheet Safety scores it 48/100.

The share count fell 9.2% between FY2009 and FY2025 — management has been retiring shares, which concentrates each remaining owner's claim. Capital Discipline scores it 60/100.

Put together: Capital Discipline is the strongest of the four filters (60/100) and Returns on Capital the weakest (46/100), which is how CENT lands at 51/100 — 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$3.1B FY2025

Gross marginRevenue kept after cost of goods31.9% FY2025

Return on invested capitalOperating profit on the capital employed10.0% FY2025

Owner earningsCash an owner could take out$206.3M FY2025

Gaps in a line mean that item isn’t in CENT’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 scale51.2 / 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 — CENT 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.

Industrials context

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

Nearest peers by Moat Score

#102ZWS ZURN ELKAY WATER SOLUTIONS CORPORATION51.7 out of 100, Shallow moatShallow moat
#103ACU ACME UNITED CORP51.2 out of 100, Shallow moatShallow moat
#105PRIM Primoris Services Corporation51.2 out of 100, Shallow moatShallow moat
#106TAYD Taylor Devices, Inc.50.8 out of 100, Shallow moatShallow moat

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

Common questions about CENT

Does Central Garden & Pet Company have an economic moat?: Based on its FY2025 SEC filings, the Moat Index scores Central Garden & Pet Company (CENT) 51.2 out of 100 — a Shallow moat. The four filters behind that score (each 0–100): pricing power 53, returns on capital 46, balance-sheet safety 48, capital discipline 60.
Is CENT 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 $43.90 per share versus a recent price of $43.61 — around fair value. This is an educational estimate computed from primary SEC filings, not investment advice.
How has CENT's Moat Score changed over time?: The record logs 3 readings since Jul 17, 2026; the latest reads 51.2 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 CENT. See the disclaimer.