COLLEGIUM PHARMACEUTICAL, INC

COLL · Healthcare · $1.1B mkt cap · FY2025 filings · Narrow moat

On the watchlist

Narrow moat

The four filters

Pricing power67

Median gross margin 57.8% over 10y, variable.

Returns on capital100

Median ROIC 124.4%, above the 9% hurdle in 100% of years.

Balance-sheet safety28

Net debt/EBITDA n/ax, interest coverage 2x.

Capital discipline28

Owner earnings trend unclear, share count growing (dilution).

Margin of safety

Above valueOn sale

68% above value

Owner earnings (normalized): $61.1M
Est. intrinsic value / share: $21.42
Recent price: $35.91
Discount to value: 68% above value

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

Moat Score history

Score history begins 2026-07-17. Check back as the record builds.

Scores are logged append-only and never overwritten — this record can't be backfilled, which is exactly why it's worth keeping.

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