Does Cimpress plc have an economic moat?

Based on its FY2025 SEC filings, the Moat Index scores Cimpress plc (CMPR) 50.5 out of 100 — a Shallow moat. The four filters behind that score (each 0–100): pricing power 80, returns on capital 28, balance-sheet safety 49, capital discipline 40.

Is CMPR 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 $49.31 per share versus a recent price of $102.85 — 109% above value. This is an educational estimate computed from primary SEC filings, not investment advice.

How has CMPR's Moat Score changed over time?

The record logs 3 readings since Jul 17, 2026; the latest reads 50.5 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

Cimpress plc

CMPR · Materials · $2.5B mkt cap · FY2025 filings · Shallow moat ·

Doesn't clear the bar

Shallow moat

The four filters

Pricing power80

Median gross margin 49.3% over 10y, very stable.

Returns on capital28

Median ROIC 8.3%, above the 9% hurdle in 40% of years.

Balance-sheet safety49

Net debt/EBITDA 3.7x, no material interest expense disclosed.

Capital discipline40

Owner earnings -4.9%/yr, share count shrinking (buybacks).

Margin of safety

Above valueOn sale

109% above value

Owner earnings (normalized): $67.1M
Est. intrinsic value / share: $49.31
Recent price: $102.85
Discount to value: 109% above 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

Cimpress plc booked $3.4B of revenue in FY2025 in the Materials sector and kept 47.5% of it as gross profit — a solid-margin business by that measure. After every other cost, 0.4% of each revenue dollar reached the bottom line.

Across the filed record, revenue grew from $515.8M (FY2009) to $3.4B (FY2025) — about 12.5% a year compounded over 16 years.

It earned 19.2% on invested capital in FY2025, with a median of 12.7% across 17 filed years. The Returns on Capital filter above scores it 28/100.

The balance sheet carried $1.6B of total debt in FY2025 against $67.1M of owner earnings — roughly 23.6 years of owner earnings to retire it all. Balance-Sheet Safety scores it 49/100.

The share count fell 44.2% between FY2010 and FY2025 — management has been retiring shares, which concentrates each remaining owner's claim. Capital Discipline scores it 40/100.

Put together: Pricing Power is the strongest of the four filters (80/100) and Returns on Capital the weakest (28/100), which is how CMPR 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$3.4B FY2025

Gross marginRevenue kept after cost of goods47.5% FY2025

Return on invested capitalOperating profit on the capital employed19.2% FY2025

Owner earningsCash an owner could take out$67.1M FY2025

Gaps in a line mean that item isn’t in CMPR’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 scale50.5 / 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 — CMPR 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

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

Nearest peers by Moat Score

#69ESI Element Solutions Inc51.6 out of 100, Shallow moatShallow moat
#70CHRD Chord Energy Corp50.6 out of 100, Shallow moatShallow moat
#72ATR AptarGroup, Inc50.3 out of 100, Shallow moatShallow moat
#73FSI FLEXIBLE SOLUTIONS INTERNATIONAL INC.49.7 out of 100, Shallow moatShallow moat

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

Common questions about CMPR

Does Cimpress plc have an economic moat?: Based on its FY2025 SEC filings, the Moat Index scores Cimpress plc (CMPR) 50.5 out of 100 — a Shallow moat. The four filters behind that score (each 0–100): pricing power 80, returns on capital 28, balance-sheet safety 49, capital discipline 40.
Is CMPR 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 $49.31 per share versus a recent price of $102.85 — 109% above value. This is an educational estimate computed from primary SEC filings, not investment advice.
How has CMPR's Moat Score changed over time?: The record logs 3 readings since Jul 17, 2026; the latest reads 50.5 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 CMPR. See the disclaimer.