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Heartflow, Inc.

HTFL · Healthcare · $4.1B mkt cap · FY2025 filings · · Shallow moat ·

Doesn't clear the bar

Shallow moat
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The five investor questions

70

2023–2025 (latest 3 aligned FYs; v3 window cap 5): revenue $87.2M to $176M, increasing; diluted EPS -25.32 to -3.17, increasing. 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%.

95

Median gross margin 75.1% over 3y, very stable.

—

Not enough years of ROIC data to score returns on capital.

28

Net debt/EBITDA n/ax, interest coverage -4x.

45

Owner earnings changed trend unclear over up to the ten most recent annual observations.

The returnsOnCapital component abstained: Not enough years of ROIC data to score returns on capital. The other four 20% weights were renormalized over the scored 80%.

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
$48.29
No price data

This zero-growth estimate assumes trailing owner earnings persist — unreliable for declining businesses. Flag status unavailable — four adjacent recent FY revenue observations are required.

Among the current top-score group, the median current price is 243% above the zero-growth estimate across 49 of the current top 50 companies by Moat Score with both values.

Score records captured Oct 18, 2026.

Exactly which 50 companies?

FTNT, IBEX, META, MEDP, MSFT, GOOG, LULU, ANF, IDXX, TXRH, FHI, QLYS, FFIV, ADBE, LLY, MANH, CPRT, VEEV, RMD, GRMN, PCTY, EAT, UI, SSD, MNST, DOCS, LRCX, MCO, NTAP, NVDA, CORT, SFM, MPTI, ULTA, SN, ROL, CTAS, PAYC, IRMD, DECK, MORN, INTU, JKHY, TPR, LGCY, DAL, GWW, ISRG, MPWR, LOPE

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

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.

4 years of fundamentals

The business, in plain English

Heartflow, Inc. booked $176M of revenue in FY2025 in the Healthcare sector and kept 76.8% of it as gross profit — a high-margin business by that measure. After every other cost, −66.3% of each revenue dollar reached the bottom line.

HTFL's latest filed year, FY2025, doesn't disclose total debt in a form the methodology can use, so current leverage is treated as unmeasured — never assumed to be zero.

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 HTFL’s SEC filings

Sales, as filed$176M FY2025
$0$100M2022202320242025
Revenue kept after cost of goods76.8% FY2025
0%50%2022202320242025
Standard ROIC or separately labeled Operating ROIC

Exact FY and FY-1 financing invested-capital inputs are required.

Exact FY and FY-1 financing invested-capital inputs are required.

Cash an owner could take out−$116M FY2025
−$100M−$50M$02022202320242025

The explained ROIC gaps have filed inputs but no meaningful positive invested-capital denominator. Other gaps mean the item is not in the 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 Heartflow, 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$176M · 100%Cost of revenue$40.8M · 23%Gross profit$135M · 77%Operating income−$64.1M · −36%Income before tax−$117M · −66%Income tax−$76000 · −0%Net income−$117M · −66%As of 2025-12-31 · 1 SEC filing sourceBuy 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
$176M100%
  • 10-K · FY 2025Filing detailsAccession 0001464521-26-000042 · filed Mar 18, 2026
Cost of revenue$40.8M23%
  • 10-K · FY 2025Filing detailsAccession 0001464521-26-000042 · filed Mar 18, 2026
$135M77%
  • 10-K · FY 2025Filing detailsAccession 0001464521-26-000042 · filed Mar 18, 2026
−$64.1M−36%
  • 10-K · FY 2025Filing detailsAccession 0001464521-26-000042 · filed Mar 18, 2026
Income before tax−$117M−66%
  • 10-K · FY 2025Filing detailsAccession 0001464521-26-000042 · filed Mar 18, 2026
Income tax−$76000−0%
  • 10-K · FY 2025Filing detailsAccession 0001464521-26-000042 · filed Mar 18, 2026
−$117M−66%
  • 10-K · FY 2025Filing detailsAccession 0001464521-26-000042 · filed Mar 18, 2026
Source:
  • 10-K · FY 2025Filing detailsAccession 0001464521-26-000042 · filed Mar 18, 2026
· event Dec 31, 2025 · retrieved Oct 18, 2026 · annual-row source set
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Flagship explainer

What Heartflow, Inc. owns — and owes

Heartflow, Inc.'s filing tags don't support a full breakdown — here's what is filed:

Table alternative
Filed lineValue% of assetsSource
Total assets$359M100%
  • 10-K · FY 2025Filing detailsAccession 0001464521-26-000042 · filed Mar 18, 2026
Cash and equivalents$44.8M12%
  • 10-K · FY 2025Filing detailsAccession 0001464521-26-000042 · filed Mar 18, 2026
Stockholders’ equity$301M84%
  • 10-K · FY 2025Filing detailsAccession 0001464521-26-000042 · filed Mar 18, 2026
Source:
  • 10-K · FY 2025Filing detailsAccession 0001464521-26-000042 · filed Mar 18, 2026
· event Dec 31, 2025 · retrieved Oct 18, 2026 · annual-row source set

Flagship explainer

What drives Heartflow, 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 equity42%Tax burden100%net income ÷ pretax incomeInterest burden182%pretax ÷ operating incomeOperating margin−36%operating income ÷ revenueAsset turnover0.74×revenue ÷ average assetsEquity multiplier-0.86×average assets ÷ average equityAs of 2025-12-31 · 1 SEC filing sourceBuy Like Buffett · buylikebuffett.com
DuPont source inputs
InputValueFiscal yearSource
−$117MFY2025
  • 10-K · FY 2025Filing detailsAccession 0001464521-26-000042 · filed Mar 18, 2026
Income before tax−$117MFY2025
  • 10-K · FY 2025Filing detailsAccession 0001464521-26-000042 · filed Mar 18, 2026
Operating income−$64.1MFY2025
  • 10-K · FY 2025Filing detailsAccession 0001464521-26-000042 · filed Mar 18, 2026
$176MFY2025
  • 10-K · FY 2025Filing detailsAccession 0001464521-26-000042 · filed Mar 18, 2026
Ending assets$359MFY2025
  • 10-K · FY 2025Filing detailsAccession 0001464521-26-000042 · filed Mar 18, 2026
Beginning assets$119MFY2024
  • 10-K · FY 2024Filing detailsAccession 0001464521-26-000042 · filed Mar 18, 2026
$301MFY2025
  • 10-K · FY 2025Filing detailsAccession 0001464521-26-000042 · filed Mar 18, 2026
−$859MFY2024
  • 10-K · FY 2024Filing detailsAccession 0001464521-26-000042 · filed Mar 18, 2026
Source: · event Dec 31, 2025 · retrieved Oct 18, 2026 · annual-row source set
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Flagship explainer

Where Heartflow, Inc.'s cash went

Heartflow, 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−$54M−100%
  • 10-K · FY 2025Filing detailsAccession 0001464521-26-000042 · filed Mar 18, 2026
Depreciation and amortization$5.4M10%
  • 10-K · FY 2025Filing detailsAccession 0001464521-26-000042 · filed Mar 18, 2026
Source:
  • 10-K · FY 2025Filing detailsAccession 0001464521-26-000042 · filed Mar 18, 2026
· event Dec 31, 2025 · retrieved Oct 18, 2026 · annual-row source set

Curated 19-manager tier

Who reported holding Heartflow, 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 Oct 18, 2026

Flagship explainer

What Heartflow, Inc. insiders reported

Records still being gathered — partial as of retrieval Oct 19, 2026.

Partial coverage: the incomplete Form 4 walk cannot establish no activity, an activity date, or zero counts.

Moat Score history

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

Moat Score over timeLast scored reading of each day, on the 0–100 scale59.4 / 100
0406080100WideNarrowShallowNo moatJul 20, 2026Oct 18, 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. Methodology upgraded moat-index@2.0.0moat-index@3.0.0 — readings across versions aren’t comparedJul 23, 2026
  3. 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.

Records still being gathered — partial as of retrieval Oct 19, 2026.

Trailing-12-month totals and the 90-day cluster result are withheld because this issuer walk is incomplete.

InsiderShares owned afterDateFiling detail
Farquhar John C.M.Director, Chief Executive OfficerOpen-market or private sale (S)Table I · Disposed · Common Stock38,900$49.568$1,928,195283,014Oct 12, 2026
1 filed lot
  • Table I · Common Stock: 38,900 shares at $49.568 · code S · owned after 283,014 ·
Rogers CampbellChief Medical OfficerExercise or conversion of derivative security (M)Table I · Acquired · Common Stock · 2 paired events13,179$7.9359$104,588See lot detailSep 18, 2026
2 filed lots
  • Table I · Common Stock: 12,329 shares at $8.33 · code M · owned after 98,788 · Paired event: 12,329 Stock Option → 12,329 Common Stock ·
  • Table I · Common Stock: 850 shares at $2.22 · code M · owned after 99,638 · Paired event: 850 Stock Option → 850 Common Stock ·
Rogers CampbellChief Medical OfficerOpen-market or private sale (S)Table I · Disposed · Common Stock19,682$50.15$987,05279,956Sep 18, 2026
1 filed lot
  • Table I · Common Stock: 19,682 shares at $50.15 · code S · owned after 79,956 ·
Rogers CampbellChief Medical OfficerExercise or conversion of derivative security (M)Table II · Disposed · Stock Option · 2 paired events13,179—Exercise or conversion of derivative security (M)—See lot detailSep 18, 2026
2 filed lots
  • Table II · Stock Option: 12,329 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 31,456 · Paired event: 12,329 Stock Option → 12,329 Common Stock ·
  • Table II · Stock Option: 850 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 70,783 · Paired event: 850 Stock Option → 850 Common Stock ·
Verghese VikramChief Financial OfficerOpen-market or private sale (S)Table I · Disposed · Common Stock.16,766$50.7531$850,926155,183Sep 18, 2026
1 filed lot
  • Table I · Common Stock.: 16,766 shares at $50.7531 · code S · owned after 155,183 ·
Verghese VikramChief Financial OfficerOpen-market or private sale (S)Table I · Disposed · Common Stock.7,579$50.1142$379,816171,949Sep 17, 2026
1 filed lot
  • Table I · Common Stock.: 7,579 shares at $50.1142 · code S · owned after 171,949 ·
Verghese VikramChief Financial OfficerOpen-market or private sale (S)Table I · Disposed · Common Stock.668$50.012$33,408179,528Sep 15, 2026
1 filed lot
  • Table I · Common Stock.: 668 shares at $50.012 · code S · owned after 179,528 ·
Verghese VikramChief Financial OfficerOpen-market or private sale (S)Table I · Disposed · Common Stock.4,593$50.2381$230,744180,196Sep 14, 2026
1 filed lot
  • Table I · Common Stock.: 4,593 shares at $50.2381 · code S · owned after 180,196 ·
Verghese VikramChief Financial OfficerOpen-market or private sale (S)Table I · Disposed · Common Stock.29,714$50.0592$1,487,459184,789Sep 11, 2026
1 filed lot
  • Table I · Common Stock.: 29,714 shares at $50.0592 · code S · owned after 184,789 ·
Farquhar John C.M.Director, Chief Executive OfficerOpen-market or private sale (S)Table I · Disposed · Common Stock3,890$50.00$194,500321,914Sep 11, 2026
1 filed lot
  • Table I · Common Stock: 3,890 shares at $50.00 · code S · owned after 321,914 ·
Farquhar John C.M.Director, Chief Executive OfficerOpen-market or private sale (S)Table I · Disposed · Common Stock35,010$46.4183$1,625,105325,804Sep 10, 2026
1 filed lot
  • Table I · Common Stock: 35,010 shares at $46.4183 · code S · owned after 325,804 ·
Verghese VikramChief Financial OfficerOpen-market or private sale (S)Table I · Disposed · Common Stock.6,640$50.0319$332,212214,503Sep 8, 2026
1 filed lot
  • Table I · Common Stock.: 6,640 shares at $50.0319 · code S · owned after 214,503 ·
Verghese VikramChief Financial OfficerOpen-market or private sale (S)Table I · Disposed · Common Stock.27,540$49.6903$1,368,471221,143Sep 3, 2026
1 filed lot
  • Table I · Common Stock.: 27,540 shares at $49.6903 · code S · owned after 221,143 ·
Verghese VikramChief Financial OfficerOpen-market or private sale (S)Table I · Disposed · Common Stock.5,876$50.60$297,326248,683Sep 2, 2026
1 filed lot
  • Table I · Common Stock.: 5,876 shares at $50.60 · code S · owned after 248,683 ·
Farquhar John C.M.Director, Chief Executive OfficerOpen-market or private sale (S)Table I · Disposed · Common Stock27,230$50.00$1,361,500360,814Aug 21, 2026
1 filed lot
  • Table I · Common Stock: 27,230 shares at $50.00 · code S · owned after 360,814 ·
Farquhar John C.M.Director, Chief Executive OfficerOpen-market or private sale (S)Table I · Disposed · Common Stock32,676$45.00$1,470,420388,044Aug 18, 2026
1 filed lot
  • Table I · Common Stock: 32,676 shares at $45.00 · code S · owned after 388,044 ·
Rogers CampbellChief Medical OfficerExercise or conversion of derivative security (M)Table I · Acquired · Common Stock · 1 paired event9,219$19.00$175,16195,678Aug 17, 2026
1 filed lot
  • Table I · Common Stock: 9,219 shares at $19.00 · code M · owned after 95,678 · Paired event: 9,219 Stock Options → 9,219 Common Stock ·
Rogers CampbellChief Medical OfficerOpen-market or private sale (S)Table I · Disposed · Common Stock9,219$41.23$380,09986,459Aug 17, 2026
1 filed lot
  • Table I · Common Stock: 9,219 shares at $41.23 · code S · owned after 86,459 ·
Rogers CampbellChief Medical OfficerExercise or conversion of derivative security (M)Table II · Disposed · Stock Options · 1 paired event9,219—Exercise or conversion of derivative security (M)—82,972Aug 17, 2026
1 filed lot
  • Table II · Stock Options: 9,219 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 82,972 · Paired event: 9,219 Stock Options → 9,219 Common Stock ·
Farquhar John C.M.Director, Chief Executive OfficerOpen-market or private sale (S)Table I · Disposed · Common Stock15,560$39.06$607,774420,720Aug 14, 2026
1 filed lot
  • Table I · Common Stock: 15,560 shares at $39.06 · code S · owned after 420,720 ·
Farquhar John C.M.Director, Chief Executive OfficerOpen-market or private sale (S)Table I · Disposed · Common Stock22,562$28.31$638,730436,280Aug 10, 2026
1 filed lot
  • Table I · Common Stock: 22,562 shares at $28.31 · code S · owned after 436,280 ·
Jones Marie L.Chief Accounting OfficerPayment of exercise price or tax liability (F)Table I · Disposed · Common Stock.82$28.82$2,36332,176Aug 7, 2026
1 filed lot
  • Table I · Common Stock.: 82 shares at $28.82 · code F · owned after 32,176 ·
Verghese VikramChief Financial OfficerPayment of exercise price or tax liability (F)Table I · Disposed · Common Stock.473$28.82$13,632254,559Aug 7, 2026
1 filed lot
  • Table I · Common Stock.: 473 shares at $28.82 · code F · owned after 254,559 ·
Rogers CampbellChief Medical OfficerPayment of exercise price or tax liability (F)Table I · Disposed · Common Stock637$28.82$18,35886,459Aug 7, 2026
1 filed lot
  • Table I · Common Stock: 637 shares at $28.82 · code F · owned after 86,459 ·
Farquhar John C.M.Director, Chief Executive OfficerPayment of exercise price or tax liability (F)Table I · Disposed · Common Stock1,904$28.82$54,873458,842Aug 7, 2026
1 filed lot
  • Table I · Common Stock: 1,904 shares at $28.82 · code F · owned after 458,842 ·
Jones Marie L.Chief Accounting OfficerPayment of exercise price or tax liability (F)Table I · Disposed · Common Stock.486$27.19$13,21432,258Aug 6, 2026
1 filed lot
  • Table I · Common Stock.: 486 shares at $27.19 · code F · owned after 32,258 ·
Verghese VikramChief Financial OfficerPayment of exercise price or tax liability (F)Table I · Disposed · Common Stock.1,537$27.19$41,791255,032Aug 6, 2026
1 filed lot
  • Table I · Common Stock.: 1,537 shares at $27.19 · code F · owned after 255,032 ·
Rogers CampbellChief Medical OfficerPayment of exercise price or tax liability (F)Table I · Disposed · Common Stock1,635$27.19$44,45687,096Aug 6, 2026
1 filed lot
  • Table I · Common Stock: 1,635 shares at $27.19 · code F · owned after 87,096 ·
Farquhar John C.M.Director, Chief Executive OfficerPayment of exercise price or tax liability (F)Table I · Disposed · Common Stock5,847$27.19$158,980460,746Aug 6, 2026
1 filed lot
  • Table I · Common Stock: 5,847 shares at $27.19 · code F · owned after 460,746 ·
Jones Marie L.Chief Accounting OfficerGrant, award, or other acquisition (A)Table I · Acquired · Common Stock.1,661$16.15$26,82533,311Mar 6, 2026
1 filed lot
  • Table I · Common Stock.: 1,661 shares at $16.15 · code A · owned after 33,311 ·
Verghese VikramChief Financial OfficerGrant, award, or other acquisition (A)Table I · Acquired · Common Stock.671$16.15$10,837213,534Mar 6, 2026
1 filed lot
  • Table I · Common Stock.: 671 shares at $16.15 · code A · owned after 213,534 ·

Source-event as of . Retrieved .

Track record

How Heartflow, 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 2025–2025, 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 HTFL on that December 31; the line below is its total-return price path (dividends reinvested) in the years since.

0406080100WideNarrowShallowNo moatPoint-in-time 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, HTFL 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.

Healthcare context

#112 of 708 scored Healthcare companies, ranked by Moat Score.

Nearest peers by Moat Score

  1. #110BMY BRISTOL-MYERS SQUIBB COMPANY59.6Shallow moat
  2. #111RIGL RIGEL PHARMACEUTICALS, INC.59.5Shallow moat
  3. #113ABBV AbbVie Inc.59.3Shallow moat
  4. #114PTN PALATIN TECHNOLOGIES, INC.59.2Shallow moat

Compare HTFL with its nearest peers →All Healthcare companies on the Index →

Common questions about HTFL

Does Heartflow, Inc. have an economic moat?
Based on its FY2025 SEC filings, the Moat Index scores Heartflow, Inc. (HTFL) 59.4 out of 100 — a Shallow 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 70, pricing power 95, returns on capital not measurable from the filings, balance-sheet safety 28, capital allocation 45.
How has HTFL's Moat Score changed over time?
The record logs 27 readings since Jul 18, 2026; the latest reads 59.4 out of 100 (shallow moat). No tier changes on record yet. (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 HTFL. See the disclaimer.