Does Empery Digital Inc. have an economic moat?

Based on its FY2025 SEC filings, the Moat Index scores Empery Digital Inc. (EMPD) 24.7 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 50, pricing power 0, returns on capital 0, balance-sheet safety 28, capital allocation 46.

How has EMPD's Moat Score changed over time?

The record logs 1 reading since Sep 4, 2026; the latest reads 24.7 out of 100 (no moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

Empery Digital Inc.

EMPD · Other · $112M mkt cap · FY2025 filings · as of Sep 4, 2026 · No moat ·

Doesn't clear the bar

No moat

The five investor questions

2021–2025 (latest 5 aligned FYs; v3 window cap 5): revenue $448819 to $974977, increasing; diluted EPS -8.79 to -8.12, increasing. Latest-filed diluted EPS remains usable for Business Trend, but an integer share-count change lacks enough evidence to confirm a comparable EPS basis; valuation growth therefore stays at 0%.

Median gross margin -249.3% over 5y, variable.

Median ROIC -1869.3%, above the 12% hurdle in 0% of years.

Net debt/EBITDA n/ax, interest coverage -68x.

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
: $3.30
: 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 238% above the zero-growth estimate across 49 of the current top 50 companies by Moat Score with both values.

Score records captured Sep 4, 2026.

Exactly which 50 companies?

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

6 years of fundamentals

The business, in plain English

Empery Digital Inc. booked $974977 of revenue in FY2025 in the Other sector and kept −37.2% of it as gross profit — a thin-margin business by that measure. After every other cost, −15390.4% of each revenue dollar reached the bottom line.

The balance sheet carried $99.8M of total debt in FY2025. Balance-Sheet Safety scores it 28/100.

Put together: Business Trend is the strongest of the five filters (50/100) and Pricing Power the weakest (0/100), which is how EMPD lands at 25/100 — 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.

Sales, as filed$974977 FY2025

Revenue kept after cost of goods−37.2% FY2025

Standard ROIC or separately labeled Operating ROICStandard ROIC −82.8% FY2025

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

Cash an owner could take out−$150M FY2025

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 Empery Digital Inc. makes its money

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

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 line	Value	% of revenue	Source
	$974977	100%	10-K · FY 2025Filing detailsAccession 0001683168-26-002333 · filed Mar 27, 2026
Cost of revenue	$1.3M	137%	10-K · FY 2025Filing detailsAccession 0001683168-26-002333 · filed Mar 27, 2026
	−$362618	−37%	10-K · FY 2025Filing detailsAccession 0001683168-26-002333 · filed Mar 27, 2026
	−$153M	−15742%	10-K · FY 2025Filing detailsAccession 0001683168-26-002333 · filed Mar 27, 2026
Income before tax	−$154M	−15791%	10-K · FY 2025Filing detailsAccession 0001683168-26-002333 · filed Mar 27, 2026
Income tax	−$5.4M	−552%	10-K · FY 2025Filing detailsAccession 0001683168-26-002333 · filed Mar 27, 2026
	−$150M	−15390%	10-K · FY 2025Filing detailsAccession 0001683168-26-002333 · filed Mar 27, 2026

Source:

10-K · FY 2025Filing detailsAccession 0001683168-26-002333 · filed Mar 27, 2026

· event Dec 31, 2025 · retrieved Sep 4, 2026 · annual-row source set

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Flagship explainer

What Empery Digital Inc. owns — and owes

Empery Digital Inc.'s filing tags don't support a full breakdown — here's what is filed:

Table alternative
Filed line	Value	% of assets	Source
Total assets	$372M	100%	10-K · FY 2025Filing detailsAccession 0001683168-26-002333 · filed Mar 27, 2026
Cash and equivalents	$9M	2%	10-K · FY 2025Filing detailsAccession 0001683168-26-002333 · filed Mar 27, 2026
	$99.8M	27%	10-K · FY 2025Filing detailsAccession 0001683168-26-002333 · filed Mar 27, 2026
Stockholders’ equity	$269M	72%	10-K · FY 2025Filing detailsAccession 0001683168-26-002333 · filed Mar 27, 2026

Source:

10-K · FY 2025Filing detailsAccession 0001683168-26-002333 · filed Mar 27, 2026

· event Dec 31, 2025 · retrieved Sep 4, 2026 · annual-row source set

Flagship explainer

What drives Empery Digital Inc.’s return on equity?

ROE is five filed business factors multiplied together.

DuPont source inputs
Input	Value	Fiscal year	Source
	−$150M	FY2025	10-K · FY 2025Filing detailsAccession 0001683168-26-002333 · filed Mar 27, 2026
Income before tax	−$154M	FY2025	10-K · FY 2025Filing detailsAccession 0001683168-26-002333 · filed Mar 27, 2026
Operating income	−$153M	FY2025	10-K · FY 2025Filing detailsAccession 0001683168-26-002333 · filed Mar 27, 2026
	$974977	FY2025	10-K · FY 2025Filing detailsAccession 0001683168-26-002333 · filed Mar 27, 2026
Ending assets	$372M	FY2025	10-K · FY 2025Filing detailsAccession 0001683168-26-002333 · filed Mar 27, 2026
Beginning assets	$6.2M	FY2024	10-K · FY 2024Filing detailsAccession 0001683168-26-002333 · filed Mar 27, 2026
	$269M	FY2025	10-K · FY 2025Filing detailsAccession 0001683168-26-002333 · filed Mar 27, 2026
	$40761	FY2024	10-K · FY 2024Filing detailsAccession 0001683168-26-002333 · filed Mar 27, 2026

Source:

10-K · filed Mar 27, 2026Filing detailsAccession 0001683168-26-002333 · filed Mar 27, 2026

· event Dec 31, 2025 · retrieved Sep 4, 2026 · annual-row source set

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Flagship explainer

Where Empery Digital Inc.'s cash went

Empery Digital 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 line	Value	% of cash from operations	Source
Cash from operations	−$17.8M	−100%	10-K · FY 2025Filing detailsAccession 0001683168-26-002333 · filed Mar 27, 2026
Depreciation and amortization	$301537	2%	10-K · FY 2025Filing detailsAccession 0001683168-26-002333 · filed Mar 27, 2026

Source:

10-K · FY 2025Filing detailsAccession 0001683168-26-002333 · filed Mar 27, 2026

· event Dec 31, 2025 · retrieved Sep 4, 2026 · annual-row source set

Curated 19-manager tier

Who reported holding Empery Digital 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
Manager	Reported position	Quarter-over-quarter	Filing accession
Abrams Capital	Not retrieved	Comparison not retrieved	Filing not retrieved
Akre Capital	Not retrieved	Comparison not retrieved	Filing not retrieved
Baupost Group	Not retrieved	Comparison not retrieved	Filing not retrieved
Berkshire Hathaway	Not retrieved	Comparison not retrieved	Filing not retrieved
Brave Warrior Advisors	Not retrieved	Comparison not retrieved	Filing not retrieved
Dodge & Cox	Not retrieved	Comparison not retrieved	Filing not retrieved
First Eagle	Not retrieved	Comparison not retrieved	Filing not retrieved
Fundsmith	Not retrieved	Comparison not retrieved	Filing not retrieved
Gardner Russo & Quinn	Not retrieved	Comparison not retrieved	Filing not retrieved
Gates Foundation Trust	Not retrieved	Comparison not retrieved	Filing not retrieved
Mairs & Power	Not retrieved	Comparison not retrieved	Filing not retrieved
Markel / Markel-Gayner	Not retrieved	Comparison not retrieved	Filing not retrieved
Oakmark / Harris Associates	Not retrieved	Comparison not retrieved	Filing not retrieved
Pershing Square	Not retrieved	Comparison not retrieved	Filing not retrieved
Polen Capital	Not retrieved	Comparison not retrieved	Filing not retrieved
Sequoia / Ruane Cunniff	Not retrieved	Comparison not retrieved	Filing not retrieved
Southeastern Asset Management	Not retrieved	Comparison not retrieved	Filing not retrieved
Tweedy, Browne	Not retrieved	Comparison not retrieved	Filing not retrieved
Yacktman Asset Management	Not retrieved	Comparison not retrieved	Filing 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 4, 2026

Flagship explainer

What Empery Digital Inc. insiders reported

We could not retrieve insider activity for this rendering; no zero-activity claim is shown.

Unavailable: Form 4 activity could not be retrieved for this rendering.

Moat Score history

Moat Score over timeLast scored reading of each day, on the 0–100 scale24.7 / 100

Score history begins Sep 4, 2026 — the record builds forward from here.

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

None yet — EMPD has read No moat for every logged capture since Sep 4, 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.

The insider-filing service is temporarily unavailable, so no partial or guessed answer is shown for EMPD.

Other context

#91 of 99 scored Other companies, ranked by Moat Score.

Nearest peers by Moat Score

#89GREEL Vulcan Infrastructure and Power Inc.25.6 out of 100, No moatNo moat
#90MARA MARA HOLDINGS, INC.25.2 out of 100, No moatNo moat
#92MGTI MGT CAPITAL INVESTMENTS, INC.24.0 out of 100, No moatNo moat
#93AIXC AIxCrypto Holdings, Inc.22.7 out of 100, No moatNo moat

Compare EMPD with its nearest peers →All Other companies on the Index →

Common questions about EMPD

Does Empery Digital Inc. have an economic moat?: Based on its FY2025 SEC filings, the Moat Index scores Empery Digital Inc. (EMPD) 24.7 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 50, pricing power 0, returns on capital 0, balance-sheet safety 28, capital allocation 46.
How has EMPD's Moat Score changed over time?: The record logs 1 reading since Sep 4, 2026; the latest reads 24.7 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 EMPD. See the disclaimer.