Buy Like Buffett
Watchlist

Charlotte's Web Holdings, Inc.

CWBHF · Agriculture · $39.2M mkt cap · FY2025 filings · · No moat ·

Doesn't clear the bar

No moat
Share / Embed this score
Embed this score

The five investor questions

20

2021–2025 (latest 5 aligned FYs; v3 window cap 5): revenue $96.1M to $49.9M, decreasing; diluted EPS -0.98 to -0.19, increasing.

56

Median gross margin 47.0% over 6y, variable.

0

Median ROIC -393.3%, above the 12% hurdle in 0% of years.

55

Net cash position — no leverage risk.

24

Owner earnings changed trend unclear over up to the ten most recent annual observations.

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
$0.25
No price data

This zero-growth estimate assumes trailing owner earnings persist — unreliable for declining businesses. The recent FY revenue series does not trigger the three-consecutive-declines flag.

Among the current top-score group, the median current price is 255% above the zero-growth estimate across 49 of the current top 50 companies by Moat Score with both values.

Score records captured Oct 16, 2026.

Exactly which 50 companies?

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

7 years of fundamentals

The business, in plain English

Charlotte's Web Holdings, Inc. booked $49.9M of revenue in FY2025 in the Agriculture sector and kept 43.5% of it as gross profit — a solid-margin business by that measure. After every other cost, −59.6% of each revenue dollar reached the bottom line.

Across the filed record, revenue shrank from $95.2M (FY2020) to $49.9M (FY2025) — about −12.1% a year compounded over 5 years.

ROIC is not available for the latest filed year, FY2025. Across the full 5-year measurable filed record, median ROIC was −393.3%. Over the v3 recent window (5 measurable filed years), median ROIC was −393.3%. The Returns on Capital filter above scores it 0/100.

CWBHF'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.

Put together: Pricing Power is the strongest of the five filters (56/100) and Returns on Capital the weakest (0/100), which is how CWBHF lands at 31/100 — 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.

FY2019–FY2025 · 7 fiscal years, normalized from CWBHF’s SEC filings

Sales, as filed$49.9M FY2025
$0$50M$100M2019202120232025
Revenue kept after cost of goods43.5% FY2025
0%25%50%2019202120232025
Standard ROIC or separately labeled Operating ROIC

Exact FY and FY-1 financing invested-capital inputs are required.

Exact FY and FY-1 financing invested-capital inputs are required.

Cash an owner could take out−$24M FY2025
−$100M−$50M$02019202120232025

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 Charlotte's Web Holdings, Inc. makes its money

Start with a dollar of revenue and follow what the filing says remains.

revenueBranching filed flows with values and percentages directly labeled. Missing filing concepts are omitted rather than estimated.Revenue$49.9M · 100%Cost of revenue$28.2M · 57%Gross profit$21.7M · 43%Operating income−$20.3M · −41%Income before tax−$29.8M · −60%Income tax−$68000 · −0%Net income−$29.7M · −60%As of 2025-12-31 · 1 SEC filing sourceBuy Like Buffett · buylikebuffett.com

Honest partial: the filing did not provide a normalized tag for Research and development, Selling, general and administrative; those components are omitted, not plugged.

Table alternative
Filed lineValue% of revenueSource
$49.9M100%
  • 10-K · FY 2025Filing detailsAccession 0001750155-26-000029 · filed Mar 31, 2026
Cost of revenue$28.2M57%
  • 10-K · FY 2025Filing detailsAccession 0001750155-26-000029 · filed Mar 31, 2026
$21.7M43%
  • 10-K · FY 2025Filing detailsAccession 0001750155-26-000029 · filed Mar 31, 2026
−$20.3M−41%
  • 10-K · FY 2025Filing detailsAccession 0001750155-26-000029 · filed Mar 31, 2026
Income before tax−$29.8M−60%
  • 10-K · FY 2025Filing detailsAccession 0001750155-26-000029 · filed Mar 31, 2026
Income tax−$68000−0%
  • 10-K · FY 2025Filing detailsAccession 0001750155-26-000029 · filed Mar 31, 2026
−$29.7M−60%
  • 10-K · FY 2025Filing detailsAccession 0001750155-26-000029 · filed Mar 31, 2026
Source:
  • 10-K · FY 2025Filing detailsAccession 0001750155-26-000029 · filed Mar 31, 2026
· event Dec 31, 2025 · retrieved Oct 16, 2026 · annual-row source set
Embed this chart

Flagship explainer

What Charlotte's Web Holdings, Inc. owns — and owes

Charlotte's Web Holdings, Inc.'s filing tags don't support a full breakdown — here's what is filed:

Table alternative
Filed lineValue% of assetsSource
Total assets$75.3M100%
  • 10-K · FY 2025Filing detailsAccession 0001750155-26-000029 · filed Mar 31, 2026
Cash and equivalents$8M11%
  • 10-K · FY 2025Filing detailsAccession 0001750155-26-000029 · filed Mar 31, 2026
Stockholders’ equity−$2M−3%
  • 10-K · FY 2025Filing detailsAccession 0001750155-26-000029 · filed Mar 31, 2026
Source:
  • 10-K · FY 2025Filing detailsAccession 0001750155-26-000029 · filed Mar 31, 2026
· event Dec 31, 2025 · retrieved Oct 16, 2026 · annual-row source set

Flagship explainer

What drives Charlotte's Web Holdings, 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 equity−237%Tax burden100%net income ÷ pretax incomeInterest burden147%pretax ÷ operating incomeOperating margin−41%operating income ÷ revenueAsset turnover0.53×revenue ÷ average assetsEquity multiplier7.53×average assets ÷ average equityAs of 2025-12-31 · 1 SEC filing sourceBuy Like Buffett · buylikebuffett.com
DuPont source inputs
InputValueFiscal yearSource
−$29.7MFY2025
  • 10-K · FY 2025Filing detailsAccession 0001750155-26-000029 · filed Mar 31, 2026
Income before tax−$29.8MFY2025
  • 10-K · FY 2025Filing detailsAccession 0001750155-26-000029 · filed Mar 31, 2026
Operating income−$20.3MFY2025
  • 10-K · FY 2025Filing detailsAccession 0001750155-26-000029 · filed Mar 31, 2026
$49.9MFY2025
  • 10-K · FY 2025Filing detailsAccession 0001750155-26-000029 · filed Mar 31, 2026
Ending assets$75.3MFY2025
  • 10-K · FY 2025Filing detailsAccession 0001750155-26-000029 · filed Mar 31, 2026
Beginning assets$113MFY2024
  • 10-K · FY 2024Filing detailsAccession 0001750155-26-000029 · filed Mar 31, 2026
−$2MFY2025
  • 10-K · FY 2025Filing detailsAccession 0001750155-26-000029 · filed Mar 31, 2026
$27.1MFY2024
  • 10-K · FY 2024Filing detailsAccession 0001750155-26-000029 · filed Mar 31, 2026
Source: · event Dec 31, 2025 · retrieved Oct 16, 2026 · annual-row source set
Embed this chart

Flagship explainer

Where Charlotte's Web Holdings, Inc.'s cash went

Charlotte's Web Holdings, 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−$14.1M−100%
  • 10-K · FY 2025Filing detailsAccession 0001750155-26-000029 · filed Mar 31, 2026
Depreciation and amortization$6.3M45%
  • 10-K · FY 2025Filing detailsAccession 0001750155-26-000029 · filed Mar 31, 2026
Source:
  • 10-K · FY 2025Filing detailsAccession 0001750155-26-000029 · filed Mar 31, 2026
· event Dec 31, 2025 · retrieved Oct 16, 2026 · annual-row source set

Curated 19-manager tier

Who reported holding Charlotte's Web Holdings, 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 Oct 16, 2026

Flagship explainer

What Charlotte's Web Holdings, Inc. insiders reported

Records still being gathered — partial as of retrieval Oct 16, 2026.

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

Moat Score history

25 logged readings since Jul 18, 2026 · append-only, never rewritten

Moat Score over timeLast scored reading of each day, on the 0–100 scale31.0 / 100
0406080100WideNarrowShallowNo moatJul 18, 2026Oct 16, 2026

Breaks in the line mark methodology or normalizer upgrades — readings across versions aren’t compared, so a level shift there isn’t a change in the business.

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

  1. Normalizer upgraded unstamped (version unknown)moat-xbrl-normalizer@1.1.0 — readings across versions aren’t comparedJul 26, 2026
  2. Methodology upgraded moat-index@2.0.0moat-index@3.0.0 — readings across versions aren’t comparedJul 23, 2026
  3. Methodology upgraded moat-index@1.2.0moat-index@2.0.0 — readings across versions aren’t comparedJul 20, 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 Oct 16, 2026.

Among the rows shown, A/F/M acquisition, payment or withholding, and exercise or conversion rows outnumber S sale rows (6 versus 0). The filing codes alone do not establish that every such row arose from a compensation plan.

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

InsiderShares owned afterDateFiling detail
Morachnick William J.Director, Chief Executive OfficerExercise or conversion of derivative security (M)Table I · Acquired · Common Shares · 1 paired event294,662—Exercise or conversion of derivative security (M)—4,095,961Oct 1, 2026
1 filed lot
  • Table I · Common Shares: 294,662 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 4,095,961 · Paired event: 294,662 Restricted Stock Unit → 294,662 Common Shares ·
Morachnick William J.Director, Chief Executive OfficerPayment of exercise price or tax liability (F)Table I · Disposed · Common Shares71,751$0.2803$20,1124,024,210Oct 1, 2026
1 filed lot
  • Table I · Common Shares: 71,751 shares at $0.2803 · code F · owned after 4,024,210 ·
Morachnick William J.Director, Chief Executive OfficerExercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Unit · 1 paired event294,662—Exercise or conversion of derivative security (M)—589,324Oct 1, 2026
1 filed lot
  • Table II · Restricted Stock Unit: 294,662 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 589,324 · Paired event: 294,662 Restricted Stock Unit → 294,662 Common Shares ·
Morachnick William J.Director, Chief Executive OfficerExercise or conversion of derivative security (M)Table I · Acquired · Common Shares · 1 paired event375,000—Exercise or conversion of derivative security (M)—3,892,612Sep 30, 2026
1 filed lot
  • Table I · Common Shares: 375,000 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 3,892,612 · Paired event: 375,000 Restricted Stock Unit → 375,000 Common Shares ·
Morachnick William J.Director, Chief Executive OfficerPayment of exercise price or tax liability (F)Table I · Disposed · Common Shares91,313$0.2705$24,7003,801,299Sep 30, 2026
1 filed lot
  • Table I · Common Shares: 91,313 shares at $0.2705 · code F · owned after 3,801,299 ·
Morachnick William J.Director, Chief Executive OfficerExercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Unit · 1 paired event375,000—Exercise or conversion of derivative security (M)—0Sep 30, 2026
1 filed lot
  • Table II · Restricted Stock Unit: 375,000 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 0 · Paired event: 375,000 Restricted Stock Unit → 375,000 Common Shares ·
Kunkel Raymond J.Chief Operating OfficerOpen-market or private purchase (P)Table I · Acquired · Common Shares137,935$0.285$39,311920,208Sep 3, 2026
1 filed lot
  • Table I · Common Shares: 137,935 shares at $0.285 · code P · owned after 920,208 ·

Source-event as of . Retrieved .

Track record

How Charlotte's Web Holdings, Inc.’s moat rated in each of the years we can reconstruct from its filings — scored only on what was knowable at the time — and what its price and returns did afterward. The score never saw a price; the two are joined only in hindsight, for education, not as a signal.

Point-in-time scores 2022–2025, one methodology version · reconstructed from filings on file each Dec 31 — never with hindsight

Point-in-time Moat Score (dot colored by tier)Indexed price (total-return (dividends reinvested))Rated Wide-moat that year

How to read this: each dot is what the engine would have scored CWBHF on that December 31; the line below is its total-return price path (dividends reinvested) in the years since.

0406080100WideNarrowShallowNo moatPoint-in-time Moat Score125102050100Indexed price · log scale (2019 = 100)20222023202420252026

Two tracks, one timeline: the score has its own 0–100 scale (top), the price its own 100-based scale (bottom) — never a shared axis. The price path is a total-return (dividends reinvested) index built from the same data the forward returns use; gaps in the score line are years with no reconstructed rating (see the table for why). The Table view carries every value.

What followed, in the years it rated Wide

In the reconstructed history shown, CWBHF did not rate Wide-moat in any year, so there is no wide-moat track record to report. That absence is itself the honest answer — we don’t manufacture a comparison where the rating never earned one.

Agriculture context

#15 of 26 scored Agriculture companies, ranked by Moat Score.

Nearest peers by Moat Score

  1. #13AVO MISSION PRODUCE, INC.32.3No moat
  2. #14VRNO VERANO HOLDINGS CORP.31.5No moat
  3. #16ALCO ALICO, INC.28.3No moat
  4. #17LOCL Local Bounti Corporation/DE26.3No moat

Compare CWBHF with its nearest peers →All Agriculture companies on the Index →

Common questions about CWBHF

Does Charlotte's Web Holdings, Inc. have an economic moat?
Based on its FY2025 SEC filings, the Moat Index scores Charlotte's Web Holdings, Inc. (CWBHF) 31.0 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 20, pricing power 56, returns on capital 0, balance-sheet safety 55, capital allocation 24.
How has CWBHF's Moat Score changed over time?
The record logs 25 readings since Jul 18, 2026; the latest reads 31.0 out of 100 (no moat). No tier changes on record yet. (Methodology or normalizer upgrades on Jul 20, 2026, Jul 23, 2026, Jul 26, 2026 re-based the score; readings across versions aren't compared.) 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 CWBHF. See the disclaimer.