Does Emerald Holding, Inc. have an economic moat?

Based on its FY2025 SEC filings, the Moat Index scores Emerald Holding, Inc. (EEX) 55.1 out of 100 — a Shallow moat. The four filters behind that score (each 0–100): pricing power 98, returns on capital 37, balance-sheet safety 28, capital discipline 44.

Is EEX stock trading below its intrinsic value?

Against a deliberately conservative owner-earnings model (9% discount rate, 0% assumed growth, capped at 4%), estimated intrinsic value is $1.64 per share versus a recent price of $5.04 — 207% above value. This is an educational estimate computed from primary SEC filings, not investment advice.

How has EEX's Moat Score changed over time?

The record logs 2 readings since Jul 17, 2026; the latest reads 55.1 out of 100 (shallow moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

The Moat Index

Emerald Holding, Inc.

EEX · Technology · $996.4M mkt cap · FY2025 filings · Shallow moat ·

Doesn't clear the bar

Shallow moat

The four filters

Pricing power98

Median gross margin 71.4% over 4y, very stable.

Returns on capital37

Median ROIC 9.6%, above the 9% hurdle in 50% of years.

Balance-sheet safety28

Net debt/EBITDA n/ax, interest coverage 0x.

Capital discipline44

Owner earnings trend unclear, share count n/a.

Margin of safety

Above valueOn sale

207% above value

Owner earnings (normalized): $29.2M
Est. intrinsic value / share: $1.64
Recent price: $5.04
Discount to value: 207% above value

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

Fundamentals

There's no normalized fundamentals series for EEX yet — it appears once ingest has processed its filings.

Moat Score history

Moat Score over timeLast scored reading of each day, on the 0–100 scale55.1 / 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 — EEX has read Shallow 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.

Technology context

#168 of 532 scored Technology companies, ranked by Moat Score.

Nearest peers by Moat Score

#166ENS ENERSYS55.8 out of 100, Shallow moatShallow moat
#167SMCI SUPER MICRO COMPUTER, INC.55.2 out of 100, Shallow moatShallow moat
#169IDN Intellicheck, Inc.55.0 out of 100, Shallow moatShallow moat
#170MGNI MAGNITE, INC.55.0 out of 100, Shallow moatShallow moat

Compare EEX with its nearest peers →All Technology companies on the Index →

Common questions about EEX

Does Emerald Holding, Inc. have an economic moat?: Based on its FY2025 SEC filings, the Moat Index scores Emerald Holding, Inc. (EEX) 55.1 out of 100 — a Shallow moat. The four filters behind that score (each 0–100): pricing power 98, returns on capital 37, balance-sheet safety 28, capital discipline 44.
Is EEX stock trading below its intrinsic value?: Against a deliberately conservative owner-earnings model (9% discount rate, 0% assumed growth, capped at 4%), estimated intrinsic value is $1.64 per share versus a recent price of $5.04 — 207% above value. This is an educational estimate computed from primary SEC filings, not investment advice.
How has EEX's Moat Score changed over time?: The record logs 2 readings since Jul 17, 2026; the latest reads 55.1 out of 100 (shallow 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 EEX. See the disclaimer.