Does GRAHAM CORPORATION have an economic moat?

Based on its FY2026 SEC filings, the Moat Index scores GRAHAM CORPORATION (GHM) 37.9 out of 100 — below the Shallow-moat bar, so no moat. The four filters behind that score (each 0–100): pricing power 16, returns on capital 8, balance-sheet safety 96, capital discipline 58.

Is GHM 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 $4.57 per share versus a recent price of $107.79 — 2258% above value. This is an educational estimate computed from primary SEC filings, not investment advice.

How has GHM's Moat Score changed over time?

The record logs 3 readings since Jul 17, 2026; the latest reads 37.9 out of 100 (no moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

The Moat Index

GRAHAM CORPORATION

GHM · Industrials · $1.2B mkt cap · FY2026 filings · No moat ·

Doesn't clear the bar

No moat

The four filters

Pricing power16

Median gross margin 21.9% over 10y, variable.

Returns on capital8

Median ROIC 5.7%, above the 9% hurdle in 14% of years.

Balance-sheet safety96

Net debt/EBITDA 0.3x, no material interest expense disclosed.

Capital discipline58

Owner earnings +11.5%/yr, share count growing (dilution).

Margin of safety

Above valueOn sale

2258% above value

Owner earnings (normalized): $4.6M
Est. intrinsic value / share: $4.57
Recent price: $107.79
Discount to value: 2258% above value

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

18 years of fundamentals

The business, in plain English

GRAHAM CORPORATION booked $245.3M of revenue in FY2026 in the Industrials sector and kept 23.5% of it as gross profit — a moderate-margin business by that measure. After every other cost, 5.1% of each revenue dollar reached the bottom line.

Across the filed record, revenue grew from $62.2M (FY2010) to $245.3M (FY2026) — about 9.0% a year compounded over 16 years.

It earned 8.7% on invested capital in FY2026, with a median of 5.7% across 7 filed years. The Returns on Capital filter above scores it 8/100.

The balance sheet carried $13.0M of total debt in FY2026 against $12.5M of owner earnings — roughly 1.0 years of owner earnings to retire it all. Balance-Sheet Safety scores it 96/100.

The share count rose 9.7% between FY2014 and FY2026 — existing owners have been diluted over the record. Capital Discipline scores it 58/100.

Put together: Balance-Sheet Safety is the strongest of the four filters (96/100) and Returns on Capital the weakest (8/100), which is how GHM lands at 38/100 — 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.

RevenueSales, as filed$245.3M FY2026

Gross marginRevenue kept after cost of goods23.5% FY2026

Return on invested capitalOperating profit on the capital employed8.7% FY2026

Owner earningsCash an owner could take out$12.5M FY2026

Gaps in a line mean that item isn’t in GHM’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 scale37.9 / 100

Score history begins Jul 17, 2026 — the record builds from here and can’t be backfilled.

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

None yet — GHM has read No moat for every logged capture since Jul 17, 2026.

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

Industrials context

#162 of 309 scored Industrials companies, ranked by Moat Score.

Nearest peers by Moat Score

#160BWEN BROADWIND, INC.38.1 out of 100, No moatNo moat
#161XPO XPO, Inc.38.0 out of 100, No moatNo moat
#163EML THE EASTERN COMPANY37.8 out of 100, No moatNo moat
#164INVX INNOVEX INTERNATIONAL, INC.36.8 out of 100, No moatNo moat

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

Common questions about GHM

Does GRAHAM CORPORATION have an economic moat?: Based on its FY2026 SEC filings, the Moat Index scores GRAHAM CORPORATION (GHM) 37.9 out of 100 — below the Shallow-moat bar, so no moat. The four filters behind that score (each 0–100): pricing power 16, returns on capital 8, balance-sheet safety 96, capital discipline 58.
Is GHM 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 $4.57 per share versus a recent price of $107.79 — 2258% above value. This is an educational estimate computed from primary SEC filings, not investment advice.
How has GHM's Moat Score changed over time?: The record logs 3 readings since Jul 17, 2026; the latest reads 37.9 out of 100 (no moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

Embed this score on your site

One iframe, no script. The badge shows GHM’s live Moat Score, updates itself as new filings are scored, and links back here. How it works.

<iframe
  src="https://buylikebuffett.com/embed/GHM"
  width="340" height="150" style="border:0"
  title="GHM Moat Score — The Moat Index"
  loading="lazy"></iframe>

Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell GHM. See the disclaimer.