Does HORIZON KINETICS HOLDING CORPORATION have an economic moat?

Based on its FY2025 SEC filings, the Moat Index scores HORIZON KINETICS HOLDING CORPORATION (HKHC) 48.0 out of 100 — a Shallow moat. The four filters behind that score (each 0–100): pricing power 43, returns on capital 11, balance-sheet safety 100, capital discipline 60.

How has HKHC's Moat Score changed over time?

The record logs 2 readings since Jul 17, 2026; the latest reads 48.0 out of 100 (shallow moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

The Moat Index

HORIZON KINETICS HOLDING CORPORATION

HKHC · Other · $522.2M mkt cap · FY2025 filings · Shallow moat ·

Doesn't clear the bar

Shallow moat

The four filters

Pricing power43

Median gross margin 42.6% over 8y, variable.

Returns on capital11

Median ROIC -2.2%, above the 9% hurdle in 30% of years.

Balance-sheet safety100

Net cash position — no leverage risk.

Capital discipline60

Owner earnings +12.6%/yr, share count growing (dilution).

Margin of safety

Above valueOn sale

No price data

Owner earnings (normalized): —
Est. intrinsic value / share: —
Recent price: $28.02
Discount to value: No price data

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

Fundamentals

There's no normalized fundamentals series for HKHC yet — it appears once ingest has processed its filings.

Moat Score history

Moat Score over timeLast scored reading of each day, on the 0–100 scale48.0 / 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 — HKHC has read Shallow 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.

Other context

#10 of 12 scored Other companies, ranked by Moat Score.

Nearest peers by Moat Score

#8NDAQ Nasdaq, Inc.53.8 out of 100, Shallow moatShallow moat
#9ABX Abacus Global Management, Inc.51.0 out of 100, Shallow moatShallow moat
#11DOMH DOMINARI HOLDINGS INC.28.8 out of 100, No moatNo moat
#12AIFC AI FINANCIAL CORPORATION27.5 out of 100, No moatNo moat

Compare HKHC with its nearest peers →All Other companies on the Index →

Common questions about HKHC

Does HORIZON KINETICS HOLDING CORPORATION have an economic moat?: Based on its FY2025 SEC filings, the Moat Index scores HORIZON KINETICS HOLDING CORPORATION (HKHC) 48.0 out of 100 — a Shallow moat. The four filters behind that score (each 0–100): pricing power 43, returns on capital 11, balance-sheet safety 100, capital discipline 60.
How has HKHC's Moat Score changed over time?: The record logs 2 readings since Jul 17, 2026; the latest reads 48.0 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 HKHC. See the disclaimer.