Does i3 Verticals, Inc. have an economic moat?

Based on its FY2025 SEC filings, the Moat Index scores i3 Verticals, Inc. (IIIV) 56.1 out of 100 — a Shallow moat. The four filters behind that score (each 0–100): pricing power 63, returns on capital 4, balance-sheet safety 100, capital discipline 80.

Is IIIV stock trading below its intrinsic value?

Against a deliberately conservative owner-earnings model (9% discount rate, 4% assumed growth, capped at 4%), estimated intrinsic value is $9.64 per share versus a recent price of $20.71 — 115% above value. This is an educational estimate computed from primary SEC filings, not investment advice.

How has IIIV's Moat Score changed over time?

The record logs 2 readings since Jul 17, 2026; the latest reads 56.1 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

i3 Verticals, Inc.

IIIV · Technology · $708.0M mkt cap · FY2025 filings · Shallow moat ·

Doesn't clear the bar

Shallow moat

The four filters

Pricing power63

Median gross margin 55.3% over 8y, variable.

Returns on capital4

Median ROIC 0.9%, above the 9% hurdle in 13% of years.

Balance-sheet safety100

Net cash position — no leverage risk.

Capital discipline80

Owner earnings +22.7%/yr, share count n/a.

Margin of safety

Above valueOn sale

115% above value

Owner earnings (normalized): $18.3M
Est. intrinsic value / share: $9.64
Recent price: $20.71
Discount to value: 115% above value

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

Fundamentals

There's no normalized fundamentals series for IIIV 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 scale56.1 / 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 — IIIV 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.

Technology context

#162 of 532 scored Technology companies, ranked by Moat Score.

Nearest peers by Moat Score

#160VPG Vishay Precision Group, Inc.56.3 out of 100, Shallow moatShallow moat
#161RGP RESOURCES CONNECTION, INC.56.1 out of 100, Shallow moatShallow moat
#163NTNX NUTANIX, INC.56.0 out of 100, Shallow moatShallow moat
#164ZETA ZETA GLOBAL HOLDINGS CORP.56.0 out of 100, Shallow moatShallow moat

Compare IIIV with its nearest peers →All Technology companies on the Index →

Common questions about IIIV

Does i3 Verticals, Inc. have an economic moat?: Based on its FY2025 SEC filings, the Moat Index scores i3 Verticals, Inc. (IIIV) 56.1 out of 100 — a Shallow moat. The four filters behind that score (each 0–100): pricing power 63, returns on capital 4, balance-sheet safety 100, capital discipline 80.
Is IIIV stock trading below its intrinsic value?: Against a deliberately conservative owner-earnings model (9% discount rate, 4% assumed growth, capped at 4%), estimated intrinsic value is $9.64 per share versus a recent price of $20.71 — 115% above value. This is an educational estimate computed from primary SEC filings, not investment advice.
How has IIIV's Moat Score changed over time?: The record logs 2 readings since Jul 17, 2026; the latest reads 56.1 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 IIIV. See the disclaimer.