Buy Like Buffett
Watchlist

EON Resources, Inc

EONR · Materials · FY2025 filings · · No moat ·

Doesn't clear the bar

No moat
Share / Embed this score
Embed this score

The five investor questions

20

2024–2025 (latest 2 aligned FYs; v3 window cap 5): revenue $19.4M to $16.9M, decreasing; diluted EPS -1.25 to -0.32, increasing. Two-year history is scoreable but carries less confidence than a full-cycle record.

—

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

9

Median ROIC -9.4%, above the 12% hurdle in 25% of years.

28

Net debt/EBITDA n/ax, interest coverage -3x.

44

Owner earnings changed trend unclear over up to the ten most recent annual observations, share count n/a.

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
$0.50
No price data

This zero-growth estimate assumes trailing owner earnings persist — unreliable for declining businesses. Flag status unavailable — four adjacent recent FY revenue observations are required.

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.

6 years of fundamentals

The business, in plain English

It earned −19.2% on invested capital in the latest filed year, FY2025. Across the full 4-year measurable filed record, median ROIC was −9.4%. Over the v3 recent window (4 measurable filed years), median ROIC was −9.4%. The Returns on Capital filter above scores it 9/100.

The balance sheet carried $6.8M of total debt in FY2025. Balance-Sheet Safety scores it 28/100.

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.

FY2020–FY2025 · 6 fiscal years, normalized from EONR’s SEC filings

Sales, as filed$16.9M FY2025
$0$20M2020202220242025
Revenue kept after cost of goods

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

Standard ROIC or separately labeled Operating ROICStandard ROIC −20.3% FY2025

Exact FY and FY-1 financing invested-capital inputs are required.. Current-year EBIT, tax expense, and non-zero pretax income are required for standard ROIC.

−20%−10%0%2020202220242025
Cash an owner could take out−$10.1M FY2025
$0$20M2020202220242025

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 EON Resources, Inc makes its money

EON Resources, 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
$16.9M100%
  • 10-K · FY 2025Filing detailsAccession 0001213900-26-103762 · filed Sep 28, 2026
−$13.8M−81%
  • 10-K · FY 2025Filing detailsAccession 0001213900-26-103762 · filed Sep 28, 2026
Income before tax−$8.2M−48%
  • 10-K · FY 2025Filing detailsAccession 0001213900-26-103762 · filed Sep 28, 2026
Income tax$1.9M11%
  • 10-K · FY 2025Filing detailsAccession 0001213900-26-103762 · filed Sep 28, 2026
−$10.1M−60%
  • 10-K · FY 2025Filing detailsAccession 0001213900-26-103762 · filed Sep 28, 2026
Source:
  • 10-K · FY 2025Filing detailsAccession 0001213900-26-103762 · filed Sep 28, 2026
· event Dec 31, 2025 · retrieved Sep 29, 2026 · annual-row source set

Flagship explainer

What EON Resources, Inc owns — and owes

EON Resources, Inc's filing tags don't support a full breakdown — here's what is filed:

Table alternative
Filed lineValue% of assetsSource
Total assets$86.9M100%
  • 10-K · FY 2025Filing detailsAccession 0001213900-26-103762 · filed Sep 28, 2026
Cash and equivalents$3750360%
  • 10-K · FY 2025Filing detailsAccession 0001213900-26-103762 · filed Sep 28, 2026
$6.8M8%
  • 10-K · FY 2025Filing detailsAccession 0001213900-26-103762 · filed Sep 28, 2026
Stockholders’ equity$50.4M58%
  • 10-K · FY 2025Filing detailsAccession 0001213900-26-103762 · filed Sep 28, 2026
Source:
  • 10-K · FY 2025Filing detailsAccession 0001213900-26-103762 · filed Sep 28, 2026
· event Dec 31, 2025 · retrieved Sep 29, 2026 · annual-row source set

Flagship explainer

What drives EON Resources, 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−37%Tax burden123%net income ÷ pretax incomeInterest burden60%pretax ÷ operating incomeOperating margin−81%operating income ÷ revenueAsset turnover0.18×revenue ÷ average assetsEquity multiplier3.50×average assets ÷ average equityAs of 2025-12-31 · 2 SEC filing sourcesBuy Like Buffett · buylikebuffett.com
DuPont source inputs
InputValueFiscal yearSource
−$10.1MFY2025
  • 10-K · FY 2025Filing detailsAccession 0001213900-26-103762 · filed Sep 28, 2026
Income before tax−$8.2MFY2025
  • 10-K · FY 2025Filing detailsAccession 0001213900-26-103762 · filed Sep 28, 2026
Operating income−$13.8MFY2025
  • 10-K · FY 2025Filing detailsAccession 0001213900-26-103762 · filed Sep 28, 2026
$16.9MFY2025
  • 10-K · FY 2025Filing detailsAccession 0001213900-26-103762 · filed Sep 28, 2026
Ending assets$86.9MFY2025
  • 10-K · FY 2025Filing detailsAccession 0001213900-26-103762 · filed Sep 28, 2026
Beginning assets$103MFY2024
$50.4MFY2025
  • 10-K · FY 2025Filing detailsAccession 0001213900-26-103762 · filed Sep 28, 2026
$3.8MFY2024
Source: · event Dec 31, 2025 · retrieved Sep 29, 2026 · annual-row source set
Embed this chart

Flagship explainer

Where EON Resources, Inc's cash went

EON Resources, 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−$7.6M−100%
  • 10-K · FY 2025Filing detailsAccession 0001213900-26-103762 · filed Sep 28, 2026
Depreciation and amortization$6.7M88%
  • 10-K · FY 2025Filing detailsAccession 0001213900-26-103762 · filed Sep 28, 2026
Source:
  • 10-K · FY 2025Filing detailsAccession 0001213900-26-103762 · filed Sep 28, 2026
· event Dec 31, 2025 · retrieved Sep 29, 2026 · annual-row source set

Curated 19-manager tier

Who reported holding EON Resources, 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 EON Resources, Inc insiders reported

Records still being gathered — partial as of retrieval Sep 29, 2026.

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

Moat Score history

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

Moat Score over timeLast scored reading of each day, on the 0–100 scale25.1 / 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

  1. Not ratedNo moatSep 29, 2026
  2. Normalizer upgraded unstamped (version unknown)moat-xbrl-normalizer@1.1.0 — readings across versions aren’t comparedJul 26, 2026
  3. Methodology upgraded moat-index@2.0.0moat-index@3.0.0 — readings across versions aren’t comparedJul 23, 2026
  4. 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 Sep 29, 2026.

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

No reported Form 4 rows were captured for EONR; the incomplete walk cannot establish zero activity, zero counts, or a negative cluster result.

A filing source-event date will appear when a Form 4 row is captured.

Retrieved .

Track record

How EON Resources, 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 EONR on that December 31; the line below is its total-return price path (dividends reinvested) in the years since.

0406080100WideNarrowShallowNo moatPoint-in-time Moat Score100Indexed price · log scale 2022202320242025

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 indexed price path isn't available for this company yet; 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, EONR 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.

Materials context

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

Nearest peers by Moat Score

  1. #268HUN Huntsman Corporation25.2No moat
  2. #269WLK Westlake Corporation25.1No moat
  3. #271MAGN Magnera Corporation24.9No moat
  4. #272DEC Diversified Energy Company24.7No moat

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

Common questions about EONR

Does EON Resources, Inc have an economic moat?
Based on its FY2025 SEC filings, the Moat Index scores EON Resources, Inc (EONR) 25.1 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 9, balance-sheet safety 28, capital allocation 44.
How has EONR's Moat Score changed over time?
The record logs 16 readings since Jul 18, 2026; the latest reads 25.1 out of 100 (no moat). Tier changes so far: Not rated → No moat on Sep 29, 2026. (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 EONR. See the disclaimer.