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The Moat Index

Flowco Holdings Inc.

FLOC · Industrials · $1.8B mkt cap · FY2025 filings · Shallow moat ·

Doesn't clear the bar

50/ 100
Shallow moat

The four filters

Pricing power0

Median gross margin -2.3% over 3y, variable.

Returns on capital100

Median ROIC 28.1%, above the 9% hurdle in 100% of years.

Balance-sheet safety62

Net debt/EBITDA 0.6x, interest coverage 8x.

Capital discipline39

Owner earnings +0.5%/yr, share count n/a.

Margin of safety

Above valueOn sale
166% above value
Owner earnings (normalized)
$58.9M
Est. intrinsic value / share
$7.62
Recent price
$20.24
Discount to value
166% above value

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

4 years of fundamentals

The business, in plain English

Flowco Holdings Inc. booked $341.8M of revenue in FY2025 in the Industrials sector and kept −1.4% of it as gross profit — a thin-margin business by that measure. After every other cost, 12.1% of each revenue dollar reached the bottom line.

The balance sheet carried $167.8M of total debt in FY2025 against $58.9M of owner earnings — roughly 2.8 years of owner earnings to retire it all. Balance-Sheet Safety scores it 62/100.

Put together: Returns on Capital is the strongest of the four filters (100/100) and Pricing Power the weakest (0/100), which is how FLOC lands at 50/100 — a Shallow 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.

FY2022–FY2025 · 4 fiscal years, normalized from FLOC’s SEC filings

RevenueSales, as filed$341.8M FY2025
$0$200M2022202320242025
Gross marginRevenue kept after cost of goods−1.4% FY2025
−40%−20%0%2022202320242025
Return on invested capitalOperating profit on the capital employed38.0% FY2025
0%20%40%2022202320242025
Owner earningsCash an owner could take out$58.9M FY2025
$0$50M2022202320242025

Gaps in a line mean that item isn’t in FLOC’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

1 logged reading since Jul 18, 2026 · append-only, never rewritten

Moat Score over timeLast scored reading of each day, on the 0–100 scale50.3 / 100
0406080100WideNarrowShallowNo moatJul 18, 2026

Score history begins Jul 18, 2026 — the record builds from here and can’t be backfilled.

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

None yet — FLOC has read Shallow moat for every logged capture since Jul 18, 2026.

Scores are logged append-only and never overwritten — this record can’t be backfilled, which is exactly why it’s worth keeping.

Track record

How Flowco Holdings 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.

As-of scores 2025–2025, one methodology version · reconstructed from filings on file each Dec 31 — never with hindsight

As-of 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 FLOC on that December 31; the line below is its total-return price path (dividends reinvested) in the years since.

0406080100WideNarrowShallowNo moatAs-of Moat Score100Indexed price · log scale 2025

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, FLOC 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.

Industrials context

#113 of 327 scored Industrials companies, ranked by Moat Score.

Nearest peers by Moat Score

  1. #111PRIM Primoris Services Corporation51.2Shallow moat
  2. #112TAYD Taylor Devices, Inc.50.8Shallow moat
  3. #114RGR STURM, RUGER & COMPANY, INC.49.5Shallow moat
  4. #115FLS FLOWSERVE CORP49.4Shallow moat

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

Common questions about FLOC

Does Flowco Holdings Inc. have an economic moat?
Based on its FY2025 SEC filings, the Moat Index scores Flowco Holdings Inc. (FLOC) 50.3 out of 100 — a Shallow moat. The four filters behind that score (each 0–100): pricing power 0, returns on capital 100, balance-sheet safety 62, capital discipline 39.
Is FLOC 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 $7.62 per share versus a recent price of $20.24 — 166% above value. This is an educational estimate computed from primary SEC filings, not investment advice.
How has FLOC's Moat Score changed over time?
The record logs 1 reading since Jul 18, 2026; the latest reads 50.3 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 FLOC. See the disclaimer.