Does DISTRIBUTION SOLUTIONS GROUP, INC. have an economic moat?

Based on its FY2025 SEC filings, the Moat Index scores DISTRIBUTION SOLUTIONS GROUP, INC. (DSGR) 28.8 out of 100 — below the Shallow-moat bar, so no moat. The four filters behind that score (each 0–100): pricing power 46, returns on capital 11, balance-sheet safety 0, capital discipline 60.

Is DSGR 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 $17.26 per share versus a recent price of $34.50 — 100% above value. This is an educational estimate computed from primary SEC filings, not investment advice.

How has DSGR's Moat Score changed over time?

The record logs 3 readings since Jul 17, 2026; the latest reads 28.8 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

DISTRIBUTION SOLUTIONS GROUP, INC.

DSGR · Industrials · $1.6B mkt cap · FY2025 filings · No moat ·

Doesn't clear the bar

No moat

The four filters

Pricing power46

Median gross margin 44.1% over 10y, variable.

Returns on capital11

Median ROIC 3.7%, above the 9% hurdle in 30% of years.

Balance-sheet safety0

Net debt/EBITDA 4.0x, interest coverage 1x.

Capital discipline60

Owner earnings +39.9%/yr, share count growing (dilution).

Margin of safety

Above valueOn sale

100% above value

Owner earnings (normalized): $44.3M
Est. intrinsic value / share: $17.26
Recent price: $34.50
Discount to value: 100% 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

DISTRIBUTION SOLUTIONS GROUP, INC. booked $2.0B of revenue in FY2025 in the Industrials sector and kept 33.4% of it as gross profit — a moderate-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 $301.8M (FY2009) to $2.0B (FY2025) — about 12.5% a year compounded over 16 years.

It earned 4.0% on invested capital in FY2025, with a median of 2.9% across 17 filed years. The Returns on Capital filter above scores it 11/100.

The balance sheet carried $699.7M of total debt in FY2025 against $68.2M of owner earnings — roughly 10.3 years of owner earnings to retire it all. Balance-Sheet Safety scores it 0/100.

The share count rose 441.3% between FY2010 and FY2025 — existing owners have been diluted over the record. Capital Discipline scores it 60/100.

Put together: Capital Discipline is the strongest of the four filters (60/100) and Balance-Sheet Safety the weakest (0/100), which is how DSGR lands at 29/100 — 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$2.0B FY2025

Gross marginRevenue kept after cost of goods33.4% FY2025

Return on invested capitalOperating profit on the capital employed4.0% FY2025

Owner earningsCash an owner could take out$68.2M FY2025

Gaps in a line mean that item isn’t in DSGR’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 scale28.8 / 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 — DSGR 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.

Industrials context

#213 of 309 scored Industrials companies, ranked by Moat Score.

Nearest peers by Moat Score

#211FET FORUM ENERGY TECHNOLOGIES, INC.29.0 out of 100, No moatNo moat
#212CETX CEMTREX, INC.28.9 out of 100, No moatNo moat
#214RNGE RANGE IMPACT, INC.28.8 out of 100, No moatNo moat
#215NX QUANEX BUILDING PRODUCTS CORPORATION28.7 out of 100, No moatNo moat

Compare DSGR with its nearest peers →All Industrials companies on the Index →

Common questions about DSGR

Does DISTRIBUTION SOLUTIONS GROUP, INC. have an economic moat?: Based on its FY2025 SEC filings, the Moat Index scores DISTRIBUTION SOLUTIONS GROUP, INC. (DSGR) 28.8 out of 100 — below the Shallow-moat bar, so no moat. The four filters behind that score (each 0–100): pricing power 46, returns on capital 11, balance-sheet safety 0, capital discipline 60.
Is DSGR 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 $17.26 per share versus a recent price of $34.50 — 100% above value. This is an educational estimate computed from primary SEC filings, not investment advice.
How has DSGR's Moat Score changed over time?: The record logs 3 readings since Jul 17, 2026; the latest reads 28.8 out of 100 (no moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

Embed this score on your site

One iframe, no script. The badge shows DSGR’s live Moat Score, updates itself as new filings are scored, and links back here. How it works.

<iframe
  src="https://buylikebuffett.com/embed/DSGR"
  width="340" height="150" style="border:0"
  title="DSGR Moat Score — The Moat Index"
  loading="lazy"></iframe>

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