Does CVR ENERGY, INC have an economic moat?

Based on its FY2025 SEC filings, the Moat Index scores CVR ENERGY, INC (CVI) 32.7 out of 100 — below the Shallow-moat bar, so no moat. The four filters behind that score (each 0–100): pricing power 0, returns on capital 39, balance-sheet safety 26, capital discipline 80.

How has CVI's Moat Score changed over time?

The record logs 3 readings since Jul 17, 2026; the latest reads 32.7 out of 100 (no moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

The Moat Index

CVR ENERGY, INC

CVI · Energy · FY2025 filings · No moat ·

Doesn't clear the bar

No moat

The four filters

Pricing power0

Median gross margin 4.7% over 10y, variable.

Returns on capital39

Median ROIC 9.1%, above the 9% hurdle in 60% of years.

Balance-sheet safety26

Net debt/EBITDA 2.1x, interest coverage 1x.

Capital discipline80

Owner earnings +12.5%/yr, share count n/a.

Margin of safety

Above valueOn sale

No price data

Owner earnings (normalized): $245.0M
Est. intrinsic value / share: —
Recent price: $35.13
Discount to value: No price data

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

CVR ENERGY, INC booked $7.2B of revenue in FY2025 in the Energy sector and kept 4.8% of it as gross profit — a thin-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 $3.1B (FY2009) to $7.2B (FY2025) — about 5.3% a year compounded over 16 years.

It earned 9.2% on invested capital in FY2025, with a median of 22.1% across 17 filed years. The Returns on Capital filter above scores it 39/100.

The balance sheet carried $1.8B of total debt in FY2025 against $245.0M of owner earnings — roughly 7.2 years of owner earnings to retire it all. Balance-Sheet Safety scores it 26/100.

Put together: Capital Discipline is the strongest of the four filters (80/100) and Pricing Power the weakest (0/100), which is how CVI lands at 33/100 — a None 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$7.2B FY2025

Gross marginRevenue kept after cost of goods4.8% FY2025

Return on invested capitalOperating profit on the capital employed9.2% FY2025

Owner earningsCash an owner could take out$245.0M FY2025

Gaps in a line mean that item isn’t in CVI’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 scale32.7 / 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 — CVI has read No 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.

Energy context

#4 of 7 scored Energy companies, ranked by Moat Score.

Nearest peers by Moat Score

#2VLO VALERO ENERGY CORP/TX37.8 out of 100, No moatNo moat
#3MPC MARATHON PETROLEUM CORPORATION37.1 out of 100, No moatNo moat
#5PBF PBF ENERGY INC.31.9 out of 100, No moatNo moat
#6KWR QUAKER CHEMICAL CORPORATION28.2 out of 100, No moatNo moat

Compare CVI with its nearest peers →All Energy companies on the Index →

Common questions about CVI

Does CVR ENERGY, INC have an economic moat?: Based on its FY2025 SEC filings, the Moat Index scores CVR ENERGY, INC (CVI) 32.7 out of 100 — below the Shallow-moat bar, so no moat. The four filters behind that score (each 0–100): pricing power 0, returns on capital 39, balance-sheet safety 26, capital discipline 80.
How has CVI's Moat Score changed over time?: The record logs 3 readings since Jul 17, 2026; the latest reads 32.7 out of 100 (no 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 CVI. See the disclaimer.