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TRILLION ENERGY INTERNATIONAL INC.

DUNXF · Materials · FY2020 filings · · No moat ·

Doesn't clear the bar

No moat
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The five investor questions

20

2017–2020 (latest 4 aligned FYs; v3 window cap 5): revenue $3.9M to $2.6M, decreasing; diluted EPS -0.04 to -0.04, flat.

—

Not enough years of gross-margin data to score pricing power.

0

Median ROIC -87.1%, above the 12% hurdle in 0% of years.

28

Net debt/EBITDA n/ax, interest coverage -38x.

24

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

The pricingPower component abstained: Not enough years of gross-margin data to score pricing power. 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
Unavailable — no recent price
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 212% above the zero-growth estimate across 49 of the current top 50 companies by Moat Score with both values.

Score records captured Sep 29, 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.

8 years of fundamentals

The business, in plain English

ROIC is not available for the latest filed year, FY2020. Across the full 6-year measurable filed record, median ROIC was −87.1%. Over the v3 recent window (6 measurable filed years), median ROIC was −87.1%. The Returns on Capital filter above scores it 0/100.

DUNXF's latest filed year, FY2020, 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.

FY2013–FY2020 · 8 fiscal years, normalized from DUNXF’s SEC filings

Sales, as filed$2.6M FY2020
$0$2M$4M201320162020
Revenue kept after cost of goods

Not disclosed in DUNXF’s filings for these years — we don’t estimate it.

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−$3.5M FY2020
−$2M$0201320162020

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 TRILLION ENERGY INTERNATIONAL INC. makes its money

TRILLION ENERGY INTERNATIONAL 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
$2.6M100%
  • 10-K · FY 2020Filing detailsAccession 0001493152-21-007581 · filed Apr 1, 2021
−$3.2M−124%
  • 10-K · FY 2020Filing detailsAccession 0001493152-21-007581 · filed Apr 1, 2021
−$3.5M−137%
  • 10-K · FY 2020Filing detailsAccession 0001493152-21-007581 · filed Apr 1, 2021
Source:
  • 10-K · FY 2020Filing detailsAccession 0001493152-21-007581 · filed Apr 1, 2021
· event Dec 31, 2020 · retrieved Sep 29, 2026 · annual-row source set

Flagship explainer

What TRILLION ENERGY INTERNATIONAL INC. owns — and owes

TRILLION ENERGY INTERNATIONAL INC.'s filing tags don't support a full breakdown — here's what is filed:

Table alternative
Filed lineValue% of assetsSource
Total assets$6.5M100%
  • 10-K · FY 2020Filing detailsAccession 0001493152-21-007581 · filed Apr 1, 2021
Cash and equivalents$2027123%
  • 10-K · FY 2020Filing detailsAccession 0001493152-21-007581 · filed Apr 1, 2021
Stockholders’ equity−$1.4M−22%
  • 10-K · FY 2020Filing detailsAccession 0001493152-21-007581 · filed Apr 1, 2021
Source:
  • 10-K · FY 2020Filing detailsAccession 0001493152-21-007581 · filed Apr 1, 2021
· event Dec 31, 2020 · retrieved Sep 29, 2026 · annual-row source set

Flagship explainer

What drives TRILLION ENERGY INTERNATIONAL INC.’s return on equity?

One or more filed inputs needed for the five-factor decomposition are unavailable.

DuPont source inputs
InputValueFiscal yearSource
Net income−$3.5MFY2020
  • 10-K · FY 2020Filing detailsAccession 0001493152-21-007581 · filed Apr 1, 2021
Income before taxUnavailableFY2020
  • 10-K · FY 2020Filing detailsAccession 0001493152-21-007581 · filed Apr 1, 2021
Operating income−$3.2MFY2020
  • 10-K · FY 2020Filing detailsAccession 0001493152-21-007581 · filed Apr 1, 2021
Revenue$2.6MFY2020
  • 10-K · FY 2020Filing detailsAccession 0001493152-21-007581 · filed Apr 1, 2021
Ending assets$6.5MFY2020
  • 10-K · FY 2020Filing detailsAccession 0001493152-21-007581 · filed Apr 1, 2021
Beginning assets$7.3MFY2019
  • 10-K · FY 2019Filing detailsAccession 0001493152-20-008951 · filed May 15, 2020
  • 10-K · FY 2019Filing detailsAccession 0001493152-21-007581 · filed Apr 1, 2021
Ending equity−$1.4MFY2020
  • 10-K · FY 2020Filing detailsAccession 0001493152-21-007581 · filed Apr 1, 2021
Beginning equity$1.8MFY2019
  • 10-K · FY 2019Filing detailsAccession 0001493152-20-008951 · filed May 15, 2020
  • 10-K · FY 2019Filing detailsAccession 0001493152-21-007581 · filed Apr 1, 2021
Source: · event Dec 31, 2020 · retrieved Sep 29, 2026 · annual-row source set

Flagship explainer

Where TRILLION ENERGY INTERNATIONAL INC.'s cash went

TRILLION ENERGY INTERNATIONAL 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−$1.6M−100%
  • 10-K · FY 2020Filing detailsAccession 0001493152-21-007581 · filed Apr 1, 2021
Depreciation and amortization$376332%
  • 10-K · FY 2020Filing detailsAccession 0001493152-21-007581 · filed Apr 1, 2021
Source:
  • 10-K · FY 2020Filing detailsAccession 0001493152-21-007581 · filed Apr 1, 2021
· event Dec 31, 2020 · retrieved Sep 29, 2026 · annual-row source set

Curated 19-manager tier

Who reported holding TRILLION ENERGY INTERNATIONAL 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 29, 2026

Flagship explainer

What TRILLION ENERGY INTERNATIONAL INC. insiders reported

The complete Form 4 source snapshot retrieved on Sep 29, 2026 contains no transaction rows.

Verified empty: the retrieved source snapshot contains no transaction event.

Source snapshot retrieved 2026-09-29T07:00:12.736Z · SEC Form 4

Moat Score history

1 logged reading since Sep 29, 2026 · append-only, never rewritten

Moat Score over timeLast scored reading of each day, on the 0–100 scale17.9 / 100
0406080100WideNarrowShallowNo moatSep 29, 2026

Score history begins Sep 29, 2026 — the record builds forward from here.

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

None yet — DUNXF has read No moat for every logged capture since Sep 29, 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.

No reported Form 4 transactions were found in the complete checked issuer window for DUNXF, –. The totals and cluster result below are arithmetic over that certified window.

$0
P purchases minus S sales only, Sep 30, 2025–Sep 30, 2026.
0 P / 0 S
Only P and S are included; awards, gifts, exercises, withholding, and other mechanics are excluded.
No
Requires at least 3 distinct insiders with P purchases.

Transaction-code histogram

Supporting event counts for the same certified window, Sep 30, 2025–Sep 30, 2026.

P
0
S
0
A
0
F
0
M
0
G
0
C
0
J
0
W
0

Retrieved .

Materials context

#296 of 310 scored Materials companies, ranked by Moat Score.

Nearest peers by Moat Score

  1. #294ALTO ALTO INGREDIENTS, INC.19.1No moat
  2. #295GORO GOLD RESOURCE CORP17.9No moat
  3. #297CMP Compass Minerals International, Inc.17.7No moat
  4. #298LXU LSB Industries, Inc.17.2No moat

Compare DUNXF with its nearest peers →All Materials companies on the Index →

Common questions about DUNXF

Does TRILLION ENERGY INTERNATIONAL INC. have an economic moat?
Based on its FY2020 SEC filings, the Moat Index scores TRILLION ENERGY INTERNATIONAL INC. (DUNXF) 17.9 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 not measurable from the filings, returns on capital 0, balance-sheet safety 28, capital allocation 24.
How has DUNXF's Moat Score changed over time?
The record logs 1 reading since Sep 29, 2026; the latest reads 17.9 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 DUNXF. See the disclaimer.