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Fly-E Group, Inc.

FLYE · Consumer Discretionary · $3M mkt cap · FY2026 filings · · not refreshed in 39 days · No moat ·

Doesn't clear the bar

No moat
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The five investor questions

21

2023–2026 (latest 4 aligned FYs; v3 window cap 5): revenue $21.8M to $19.1M, decreasing; diluted EPS 5.64 to -8.38, decreasing. Diluted EPS was derived from net income and diluted weighted-average shares in 2 years where the direct tag was absent. 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%.

47

Median gross margin 39.4% over 4y, variable.

18

Median ROIC 5.1%, above the 12% hurdle in 50% of years.

28

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

53

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
$1.84
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 239% above the zero-growth estimate across 48 of the current top 50 companies by Moat Score with both values.

Score records captured Jul 26, 2026.

Exactly which 50 companies?

FTNT, META, MEDP, IBEX, MSFT, GOOGL, LULU, ANF, IDXX, TXRH, FHI, QLYS, FFIV, ADBE, LLY, MANH, VEEV, GRMN, SSD, MNST, DOCS, MCO, CPRT, NTAP, LRCX, NVDA, CORT, SFM, MPTI, ULTA, SN, RMD, ROL, PAYC, IRMD, INTU, DECK, MORN, LGCY, DAL, GWW, ISRG, MPWR, CTAS, LOPE, MRK, CMG, FAST, BKNG, ORLY

Missing a usable price or zero-growth estimate: ANF, BKNG.

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.

5 years of fundamentals

The business, in plain English

Fly-E Group, Inc. booked $19.1M of revenue in FY2026 in the Consumer Discretionary sector and kept 24.4% of it as gross profit — a moderate-margin business by that measure. After every other cost, −48.6% of each revenue dollar reached the bottom line.

It earned −22.0% on invested capital in the latest filed year, FY2026. Across the full 4-year measurable filed record, median ROIC was 5.1%. Over the v3 recent window (4 measurable filed years), median ROIC was 5.1%. The Returns on Capital filter above scores it 18/100.

The balance sheet carried $6M of total debt in FY2026. Balance-Sheet Safety scores it 28/100.

Put together: Capital Allocation is the strongest of the five filters (53/100) and Returns on Capital the weakest (18/100), which is how FLYE lands at 33/100 — 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.

FY2022–FY2026 · 5 fiscal years, normalized from FLYE’s SEC filings

Sales, as filed$19.1M FY2026
$0$20M202220242026
Revenue kept after cost of goods24.4% FY2026
0%20%40%202220242026
Standard ROIC or separately labeled Operating ROICROIC −22.0% FY2026
0%50%202220242026
Cash an owner could take out−$8.5M FY2026
−$5M$0202220242026

Gaps in a line mean that item isn’t in FLYE’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.

Flagship explainer

How Fly-E Group, Inc. makes its money

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

revenueBranching filed flows with values and percentages directly labeled. Missing filing concepts are omitted rather than estimated.Revenue$19.1M · 100%Cost of revenue$1.5M · 8%Gross profit$4.7M · 24%Operating income−$6.4M · −34%Income before tax−$8.9M · −47%Income tax$328679 · 2%Net income−$9.3M · −49%As of 2026-03-31 · 2 SEC filing sourcesBuy Like Buffett · buylikebuffett.com

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 lineValue% of revenueSource
$19.1M100%
Cost of revenue$1.5M8%
$4.7M24%
−$6.4M−34%
Income before tax−$8.9M−47%
Income tax$3286792%
−$9.3M−49%
Source: · event Mar 31, 2026 · retrieved Jul 26, 2026 · annual-row source set
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Flagship explainer

What Fly-E Group, Inc. owns — and owes

Fly-E Group, Inc.'s filing tags don't support a full breakdown — here's what is filed:

Table alternative
Filed lineValue% of assetsSource
Total assets$29.5M100%
Cash and equivalents$2652361%
$6M20%
Stockholders’ equity$17.4M59%
Source: · event Mar 31, 2026 · retrieved Jul 26, 2026 · annual-row source set

Flagship explainer

What drives Fly-E Group, 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−68%Tax burden104%net income ÷ pretax incomeInterest burden139%pretax ÷ operating incomeOperating margin−34%operating income ÷ revenueAsset turnover0.60×revenue ÷ average assetsEquity multiplier2.32×average assets ÷ average equityAs of 2026-03-31 · 3 SEC filing sourcesBuy Like Buffett · buylikebuffett.com
DuPont source inputs
InputValueFiscal yearSource
−$9.3MFY2026
Income before tax−$8.9MFY2026
Operating income−$6.4MFY2026
$19.1MFY2026
Ending assets$29.5MFY2026
Beginning assets$33.7MFY2025
$17.4MFY2026
$9.8MFY2025
Source:
  • SEC filingFiling detailsAccession 0001213900-25-064293
  • SEC filingFiling detailsAccession 0001213900-26-080973
· event Mar 31, 2026 · retrieved Jul 26, 2026 · annual-row source set
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Flagship explainer

Where Fly-E Group, Inc.'s cash went

Fly-E Group, 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−$13.8M−100%
Depreciation and amortization$8295326%
Source: · event Mar 31, 2026 · retrieved Jul 26, 2026 · annual-row source set

Curated 19-manager tier

Who reported holding Fly-E Group, 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 Jul 26, 2026

Flagship explainer

What Fly-E Group, Inc. insiders reported

The complete Form 4 source snapshot retrieved on Sep 3, 2026 contains no transaction rows.

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

Source snapshot retrieved 2026-09-03T07:00:03.284Z · SEC Form 4

Moat Score history

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

Moat Score over timeLast scored reading of each day, on the 0–100 scale33.4 / 100
0406080100WideNarrowShallowNo moatJul 20, 2026Jul 26, 2026

Breaks in the line mark methodology or normalizer upgrades — readings across versions aren’t compared, so a level shift there isn’t a change in the business.

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

  1. Normalizer upgraded unstamped (version unknown)moat-xbrl-normalizer@1.1.0 — readings across versions aren’t comparedJul 26, 2026
  2. Shallow moatNo moatJul 24, 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.

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

$0
P purchases minus S sales only, Sep 3, 2025–Sep 3, 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 3, 2025–Sep 3, 2026.

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

Retrieved .

Track record

How Fly-E Group, 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 2024–2025, 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 FLYE on that December 31; the line below is its total-return price path (dividends reinvested) in the years since.

0406080100WideNarrowShallowNo moatPoint-in-time Moat Score102050100Indexed price · log scale (2025 = 100)202420252026

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 price path is a total-return (dividends reinvested) index built from the same data the forward returns use; 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 1 year FLYE rated Wide-moat (2024), the median forward total return that followed — measured only after each year’s filings were public — was:

  • 1 year −89% vs the S&P 500’s 17% (price basis) · median over 1 year
  • 3 years None of the 1 year it rated Wide has a fully elapsed 3-year window with a benchmark to compare against yet.
  • 5 years None of the 1 year it rated Wide has a fully elapsed 5-year window with a benchmark to compare against yet.

These are medians computed from the data, not a claim about any one year. The company figures are total returns (dividends reinvested); the S&P 500 is the price-only ^GSPC index, which excludes dividends and so understates the index — the gap flatters the company. A quality rating is not a return forecast, and past returns don’t predict future ones. Educational only, not investment advice.

Consumer Discretionary context

#364 of 487 scored Consumer Discretionary companies, ranked by Moat Score.

Nearest peers by Moat Score

  1. #362CHGG CHEGG, INC33.7No moat
  2. #363HAS HASBRO, INC.33.6No moat
  3. #365LVLU Lulu's Fashion Lounge Holdings, Inc.33.3No moat
  4. #366MNTS Momentus Inc.33.3No moat

Compare FLYE with its nearest peers →All Consumer Discretionary companies on the Index →

Common questions about FLYE

Does Fly-E Group, Inc. have an economic moat?
Based on its FY2026 SEC filings, the Moat Index scores Fly-E Group, Inc. (FLYE) 33.4 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 21, pricing power 47, returns on capital 18, balance-sheet safety 28, capital allocation 53.
How has FLYE's Moat Score changed over time?
The record logs 12 readings since Jul 18, 2026; the latest reads 33.4 out of 100 (no moat). Tier changes so far: Shallow moat → No moat on Jul 24, 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 FLYE. See the disclaimer.