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CERENOME, INC.

CNSY · Healthcare · $386M mkt cap · FY2025 filings · · No moat ·

Doesn't clear the bar

No moat
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The five investor questions

46

2023–2025 (latest 3 aligned FYs; v3 window cap 5): revenue $4.9M to $5.2M, increasing; diluted EPS -4.24 to -0.29, increasing. 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%.

42

Median gross margin 41.7% over 3y, variable.

—

Not enough years of ROIC data to score returns on capital.

28

Net debt/EBITDA n/ax, interest coverage -28x.

44

Owner earnings changed trend unclear over up to the ten most recent annual observations, share count n/a.

The returnsOnCapital component abstained: Not enough years of ROIC data to score returns on capital. The other four 20% weights were renormalized over the scored 80%.

Price vs. value if growth stopped today

A cautious baseline, not a price target: what the shares may support if normalized owner earnings simply hold steady.

Above value if growth stopped todayBelow value if growth stopped today
No price data
Not reported
Unavailable — insufficient owner-earnings data
Unavailable — insufficient growth-model data
$2.78
No price data

This zero-growth estimate assumes trailing owner earnings persist — unreliable for declining businesses. Flag status unavailable — four adjacent recent FY revenue observations are required.

Among the current top-score group, the median current price is 238% above the zero-growth estimate across 49 of the current top 50 companies by Moat Score with both values.

Score records captured Sep 4, 2026.

Exactly which 50 companies?

FTNT, META, MEDP, IBEX, MSFT, GOOG, LULU, ANF, IDXX, TXRH, FHI, QLYS, FFIV, ADBE, LLY, MANH, VEEV, RMD, GRMN, PCTY, EAT, UI, SSD, MNST, DOCS, LRCX, MCO, CPRT, NTAP, NVDA, CORT, SFM, MPTI, ULTA, SN, ROL, CTAS, PAYC, IRMD, INTU, DECK, MORN, JKHY, TPR, LGCY, DAL, GWW, ISRG, MPWR, LOPE

Missing a usable price or zero-growth estimate: ANF.

Model details under moat-index@3.0.0: zero-growth multiple 11.1×, capped-growth comparison at no more than 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.

18 years of fundamentals

The business, in plain English

Across the filed record, revenue shrank from $5.8M (FY2009) to $5.2M (FY2025) — about −0.7% a year compounded over 16 years.

ROIC is not available for the latest filed year, FY2025. Across the full 4-year measurable filed record, median ROIC was −489.0%.

CNSY's latest filed year, FY2025, doesn't disclose total debt in a form the methodology can use, so current leverage is treated as unmeasured — never assumed to be zero.

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.

FY2008–FY2025 · 18 fiscal years, normalized from CNSY’s SEC filings

Sales, as filed$5.2M FY2025
$0$5M2008201420202025
Revenue kept after cost of goods68.7% FY2018
0%25%50%2008201420202025
Standard ROIC or separately labeled Operating ROIC

Exact FY and FY-1 financing invested-capital inputs are required.. Current-year EBIT, tax expense, and non-zero pretax income are required for standard ROIC.

Exact FY and FY-1 financing invested-capital inputs are required.. Current-year EBIT, tax expense, and non-zero pretax income are required for standard ROIC.

Cash an owner could take out−$22M FY2025
−$40M−$20M$02008201420202025

The explained ROIC gaps have filed inputs but no meaningful positive invested-capital denominator. Other gaps mean the item is not in the 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.

Flagship explainer

How CERENOME, INC. makes its money

CERENOME, INC.'s filing does not supply enough comparable lines for a truthful flow chart — here's what is filed:

Table alternative
Filed lineValue% of revenueSource
$5.2M100%
  • 10-K · FY 2025Filing detailsAccession 0001193125-26-104258 · filed Mar 12, 2026
−$15.3M−293%
  • 10-K · FY 2025Filing detailsAccession 0001193125-26-104258 · filed Mar 12, 2026
Income before tax−$22.4M−429%
  • 10-K · FY 2025Filing detailsAccession 0001193125-26-104258 · filed Mar 12, 2026
Income tax$00%
  • 10-K · FY 2025Filing detailsAccession 0001193125-26-104258 · filed Mar 12, 2026
−$22.4M−429%
  • 10-K · FY 2025Filing detailsAccession 0001193125-26-104258 · filed Mar 12, 2026
Source:
  • 10-K · FY 2025Filing detailsAccession 0001193125-26-104258 · filed Mar 12, 2026
· event Dec 31, 2025 · retrieved Sep 4, 2026 · annual-row source set

Flagship explainer

What CERENOME, INC. owns — and owes

CERENOME, INC.'s filing tags don't support a full breakdown — here's what is filed:

Table alternative
Filed lineValue% of assetsSource
Total assets$16.3M100%
  • 10-K · FY 2025Filing detailsAccession 0001193125-26-104258 · filed Mar 12, 2026
Cash and equivalents$4.3M26%
  • 10-K · FY 2025Filing detailsAccession 0001193125-26-104258 · filed Mar 12, 2026
Stockholders’ equity$4M24%
  • 10-K · FY 2025Filing detailsAccession 0001193125-26-104258 · filed Mar 12, 2026
Source:
  • 10-K · FY 2025Filing detailsAccession 0001193125-26-104258 · filed Mar 12, 2026
· event Dec 31, 2025 · retrieved Sep 4, 2026 · annual-row source set

Flagship explainer

What drives CERENOME, INC.’s return on equity?

ROE is five filed business factors multiplied together.

DuPont return on equity factor treeReturn on equity branches into tax burden, interest burden, operating margin, asset turnover, and the equity multiplier.Return on equity904%Tax burden100%net income ÷ pretax incomeInterest burden146%pretax ÷ operating incomeOperating margin−293%operating income ÷ revenueAsset turnover0.45×revenue ÷ average assetsEquity multiplier-4.64×average assets ÷ average equityAs of 2025-12-31 · 1 SEC filing sourceBuy Like Buffett · buylikebuffett.com
DuPont source inputs
InputValueFiscal yearSource
−$22.4MFY2025
  • 10-K · FY 2025Filing detailsAccession 0001193125-26-104258 · filed Mar 12, 2026
Income before tax−$22.4MFY2025
  • 10-K · FY 2025Filing detailsAccession 0001193125-26-104258 · filed Mar 12, 2026
Operating income−$15.3MFY2025
  • 10-K · FY 2025Filing detailsAccession 0001193125-26-104258 · filed Mar 12, 2026
$5.2MFY2025
  • 10-K · FY 2025Filing detailsAccession 0001193125-26-104258 · filed Mar 12, 2026
Ending assets$16.3MFY2025
  • 10-K · FY 2025Filing detailsAccession 0001193125-26-104258 · filed Mar 12, 2026
Beginning assets$6.6MFY2024
  • 10-K · FY 2024Filing detailsAccession 0001193125-26-104258 · filed Mar 12, 2026
$4MFY2025
  • 10-K · FY 2025Filing detailsAccession 0001193125-26-104258 · filed Mar 12, 2026
−$8.9MFY2024
  • 10-K · FY 2024Filing detailsAccession 0001193125-26-104258 · filed Mar 12, 2026
Source: · event Dec 31, 2025 · retrieved Sep 4, 2026 · annual-row source set
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Flagship explainer

Where CERENOME, INC.'s cash went

CERENOME, INC.’s filing does not supply enough provenance-matched cash-flow lines for a truthful flow chart — here’s what is filed:

Table alternative
Filed lineValue% of cash from operationsSource
Cash from operations−$20.8M−100%
  • 10-K · FY 2025Filing detailsAccession 0001193125-26-104258 · filed Mar 12, 2026
Depreciation and amortization$4450002%
  • 10-K · FY 2025Filing detailsAccession 0001193125-26-104258 · filed Mar 12, 2026
Source:
  • 10-K · FY 2025Filing detailsAccession 0001193125-26-104258 · filed Mar 12, 2026
· event Dec 31, 2025 · retrieved Sep 4, 2026 · annual-row source set

Curated 19-manager tier

Who reported holding CERENOME, INC.

Delayed public 13F reports for 2026-Q2—not live positions, trades, or recommendations.

0 holding0 exited0 not holding0/19 resolved19 not retrieved

Named manager positions and quarter-over-quarter changes
ManagerReported positionQuarter-over-quarterFiling accession
Abrams CapitalNot retrievedComparison not retrievedFiling not retrieved
Akre CapitalNot retrievedComparison not retrievedFiling not retrieved
Baupost GroupNot retrievedComparison not retrievedFiling not retrieved
Berkshire HathawayNot retrievedComparison not retrievedFiling not retrieved
Brave Warrior AdvisorsNot retrievedComparison not retrievedFiling not retrieved
Dodge & CoxNot retrievedComparison not retrievedFiling not retrieved
First EagleNot retrievedComparison not retrievedFiling not retrieved
FundsmithNot retrievedComparison not retrievedFiling not retrieved
Gardner Russo & QuinnNot retrievedComparison not retrievedFiling not retrieved
Gates Foundation TrustNot retrievedComparison not retrievedFiling not retrieved
Mairs & PowerNot retrievedComparison not retrievedFiling not retrieved
Markel / Markel-GaynerNot retrievedComparison not retrievedFiling not retrieved
Oakmark / Harris AssociatesNot retrievedComparison not retrievedFiling not retrieved
Pershing SquareNot retrievedComparison not retrievedFiling not retrieved
Polen CapitalNot retrievedComparison not retrievedFiling not retrieved
Sequoia / Ruane CunniffNot retrievedComparison not retrievedFiling not retrieved
Southeastern Asset ManagementNot retrievedComparison not retrievedFiling not retrieved
Tweedy, BrowneNot retrievedComparison not retrievedFiling not retrieved
Yacktman Asset ManagementNot retrievedComparison not retrievedFiling not retrieved

Position size uses shares and filed value from each manager’s 13F. Portfolio weight uses the eligible long-share filing denominator. Changes compare only with the immediately preceding calendar quarter.

Source: Filing source not retrieved · event Jun 30, 2026 · retrieved Sep 4, 2026

Flagship explainer

What CERENOME, INC. insiders reported

Records still being gathered — partial as of retrieval Sep 5, 2026.

Partial coverage: the incomplete Form 4 walk cannot establish no activity, an activity date, or zero counts.

Moat Score history

1 logged reading since Sep 4, 2026 · append-only, never rewritten

Moat Score over timeLast scored reading of each day, on the 0–100 scale39.8 / 100
0406080100WideNarrowShallowNo moatSep 4, 2026

Score history begins Sep 4, 2026 — the record builds forward from here.

Tier changesSame-methodology and same-normalizer crossings of the Wide / Narrow / Shallow bars

None yet — CNSY has read No moat for every logged capture since Sep 4, 2026.

Scores are logged append-only and never overwritten — this record cannot be reconstructed retroactively, which is exactly why it’s worth keeping.

Insider activity

Form 4 reports mix P/S market or private transactions with compensation-plan mechanics. Activity casually described as “insider selling” can include compensation mechanics; awards, tax withholding, and option exercises are shown by their exact filed class here, never collapsed into “Bought” or “Sold.”

These are disclosed filing facts and arithmetic aggregates, not a signal or verdict.

This machine-readable surface covers SEC ownership filings from 2003; it does not represent earlier paper-era records.

Records still being gathered — partial as of retrieval Sep 5, 2026.

Trailing-12-month totals and the 90-day cluster result are withheld because this issuer walk is incomplete.

No reported Form 4 rows were captured for CNSY; the incomplete walk cannot establish zero activity, zero counts, or a negative cluster result.

A filing source-event date will appear when a Form 4 row is captured.

Retrieved .

Healthcare context

#365 of 708 scored Healthcare companies, ranked by Moat Score.

Nearest peers by Moat Score

  1. #363CLSDQ Clearside Biomedical, Inc.39.9No moat
  2. #364PRCT PROCEPT BioRobotics Corporation39.9No moat
  3. #366ANGO AngioDynamics, Inc.39.8No moat
  4. #367STRO SUTRO BIOPHARMA, INC.39.8No moat

Compare CNSY with its nearest peers →All Healthcare companies on the Index →

Common questions about CNSY

Does CERENOME, INC. have an economic moat?
Based on its FY2025 SEC filings, the Moat Index scores CERENOME, INC. (CNSY) 39.8 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 46, pricing power 42, returns on capital not measurable from the filings, balance-sheet safety 28, capital allocation 44.
How has CNSY's Moat Score changed over time?
The record logs 1 reading since Sep 4, 2026; the latest reads 39.8 out of 100 (no moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell CNSY. See the disclaimer.