Does KOPPERS HOLDINGS INC. have an economic moat?

Based on its FY2025 SEC filings, the Moat Index scores KOPPERS HOLDINGS INC. (KOP) 40.9 out of 100 — a Shallow moat. The four filters behind that score (each 0–100): pricing power 32, returns on capital 42, balance-sheet safety 6, capital discipline 88.

Is KOP 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 $42.60 per share versus a recent price of $49.14 — 15% above value. This is an educational estimate computed from primary SEC filings, not investment advice.

How has KOP's Moat Score changed over time?

The record logs 2 readings since Jul 17, 2026; the latest reads 40.9 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

KOPPERS HOLDINGS INC.

KOP · Materials · $956.1M mkt cap · FY2025 filings · Shallow moat ·

Doesn't clear the bar

Shallow moat

The four filters

Pricing power32

Median gross margin 20.2% over 10y, stable.

Returns on capital42

Median ROIC 9.8%, above the 9% hurdle in 60% of years.

Balance-sheet safety6

Net debt/EBITDA 3.7x, interest coverage 3x.

Capital discipline88

Owner earnings +9.7%/yr, share count shrinking (buybacks).

Margin of safety

Above valueOn sale

15% above value

Owner earnings (normalized): $74.6M
Est. intrinsic value / share: $42.60
Recent price: $49.14
Discount to value: 15% above value

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 KOP 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 scale40.9 / 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 — KOP 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.

Materials context

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

Nearest peers by Moat Score

#95OLPX OLAPLEX HOLDINGS, INC.42.1 out of 100, Shallow moatShallow moat
#96LBRT Liberty Energy Inc.41.0 out of 100, Shallow moatShallow moat
#98LODE COMSTOCK INC.40.8 out of 100, Shallow moatShallow moat
#99VIRC VIRCO MFG. CORPORATION40.7 out of 100, Shallow moatShallow moat

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

Common questions about KOP

Does KOPPERS HOLDINGS INC. have an economic moat?: Based on its FY2025 SEC filings, the Moat Index scores KOPPERS HOLDINGS INC. (KOP) 40.9 out of 100 — a Shallow moat. The four filters behind that score (each 0–100): pricing power 32, returns on capital 42, balance-sheet safety 6, capital discipline 88.
Is KOP 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 $42.60 per share versus a recent price of $49.14 — 15% above value. This is an educational estimate computed from primary SEC filings, not investment advice.
How has KOP's Moat Score changed over time?: The record logs 2 readings since Jul 17, 2026; the latest reads 40.9 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 KOP. See the disclaimer.