Does GIGACLOUD TECHNOLOGY INC have an economic moat?

Based on its FY2025 SEC filings, the Moat Index scores GIGACLOUD TECHNOLOGY INC (GCT) 72.9 out of 100 — a Narrow moat. The four filters behind that score (each 0–100): pricing power 28, returns on capital 100, balance-sheet safety 73, capital discipline 100.

How has GCT's Moat Score changed over time?

The record logs 1 reading since Jul 18, 2026; the latest reads 72.9 out of 100 (narrow moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

The Moat Index

GIGACLOUD TECHNOLOGY INC

GCT · Consumer Discretionary · FY2025 filings · Narrow moat ·

On the watchlist

Narrow moat

The four filters

Pricing power28

Median gross margin 23.3% over 5y, stable.

Returns on capital100

Median ROIC 84.1%, above the 9% hurdle in 100% of years.

Balance-sheet safety73

Net debt/EBITDA n/ax, interest coverage 725x.

Capital discipline100

Owner earnings +47.3%/yr, share count shrinking (buybacks).

Margin of safety

Above valueOn sale

No price data

Owner earnings (normalized): $94.1M
Est. intrinsic value / share: —
Recent price: $38.01
Discount to value: No price data

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

6 years of fundamentals

The business, in plain English

GIGACLOUD TECHNOLOGY INC booked $1.3B of revenue in FY2025 in the Consumer Discretionary sector and kept 23.3% of it as gross profit — a moderate-margin business by that measure. After every other cost, 10.6% of each revenue dollar reached the bottom line.

It earned 116.5% on invested capital in FY2025, with a median of 84.1% across 5 filed years. The Returns on Capital filter above scores it 100/100.

The balance sheet carried $0 of total debt in FY2023. Balance-Sheet Safety scores it 73/100.

Put together: Returns on Capital is the strongest of the four filters (100/100) and Pricing Power the weakest (28/100), which is how GCT lands at 73/100 — a Narrow 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.

RevenueSales, as filed$1.3B FY2025

Gross marginRevenue kept after cost of goods23.3% FY2025

Return on invested capitalOperating profit on the capital employed116.5% FY2025

Owner earningsCash an owner could take out$137.8M FY2025

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

Moat Score over timeLast scored reading of each day, on the 0–100 scale72.9 / 100

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 — GCT has read Narrow 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 GIGACLOUD TECHNOLOGY 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 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 GCT on that December 31; the line below is its total-return price path (dividends reinvested) in the years since.

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 reconstructed history shown, GCT 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.

Consumer Discretionary context

#57 of 359 scored Consumer Discretionary companies, ranked by Moat Score.

Nearest peers by Moat Score

#55BBY BEST BUY CO., INC.73.3 out of 100, Narrow moatNarrow moat
#56G GENPACT LIMITED72.9 out of 100, Narrow moatNarrow moat
#58SBUX Starbucks Corporation72.5 out of 100, Narrow moatNarrow moat
#59URBN Urban Outfitters, Inc.72.4 out of 100, Narrow moatNarrow moat

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

Common questions about GCT

Does GIGACLOUD TECHNOLOGY INC have an economic moat?: Based on its FY2025 SEC filings, the Moat Index scores GIGACLOUD TECHNOLOGY INC (GCT) 72.9 out of 100 — a Narrow moat. The four filters behind that score (each 0–100): pricing power 28, returns on capital 100, balance-sheet safety 73, capital discipline 100.
How has GCT's Moat Score changed over time?: The record logs 1 reading since Jul 18, 2026; the latest reads 72.9 out of 100 (narrow 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 GCT. See the disclaimer.