Does INTREPID POTASH, INC. have an economic moat?

Based on its FY2025 SEC filings, the Moat Index scores INTREPID POTASH, INC. (IPI) 21.9 out of 100 — below the Shallow-moat bar, so no moat. The four filters behind that score (each 0–100): pricing power 5, returns on capital 4, balance-sheet safety 73, capital discipline 24.

How has IPI's Moat Score changed over time?

The record logs 2 readings since Jul 17, 2026; the latest reads 21.9 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

INTREPID POTASH, INC.

IPI · Materials · $449.1M mkt cap · FY2025 filings · No moat ·

Doesn't clear the bar

No moat

The four filters

Pricing power5

Median gross margin 13.2% over 3y, variable.

Returns on capital4

Median ROIC 0.0%, above the 9% hurdle in 10% of years.

Balance-sheet safety73

Net debt/EBITDA n/ax, interest coverage 46x.

Capital discipline24

Owner earnings trend unclear, share count growing (dilution).

Margin of safety

Above valueOn sale

No price data

Owner earnings (normalized): —
Est. intrinsic value / share: —
Recent price: $34.20
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 IPI 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 scale21.9 / 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 — IPI 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.

Materials context

#179 of 214 scored Materials companies, ranked by Moat Score.

Nearest peers by Moat Score

#177WLK Westlake Corporation22.1 out of 100, No moatNo moat
#178TUSK Mammoth Energy Services, Inc.22.1 out of 100, No moatNo moat
#180DSS DSS, INC.21.6 out of 100, No moatNo moat
#181ECVT Ecovyst Inc.21.6 out of 100, No moatNo moat

Compare IPI with its nearest peers →All Materials companies on the Index →

Common questions about IPI

Does INTREPID POTASH, INC. have an economic moat?: Based on its FY2025 SEC filings, the Moat Index scores INTREPID POTASH, INC. (IPI) 21.9 out of 100 — below the Shallow-moat bar, so no moat. The four filters behind that score (each 0–100): pricing power 5, returns on capital 4, balance-sheet safety 73, capital discipline 24.
How has IPI's Moat Score changed over time?: The record logs 2 readings since Jul 17, 2026; the latest reads 21.9 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 IPI’s live Moat Score, updates itself as new filings are scored, and links back here. How it works.

<iframe
  src="https://buylikebuffett.com/embed/IPI"
  width="340" height="150" style="border:0"
  title="IPI 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 IPI. See the disclaimer.