LEATT CORPORATION

LEAT · Consumer Discretionary · $76.7M mkt cap · FY2025 filings · Narrow moat

On the watchlist

Narrow moat

The four filters

Pricing power71

Median gross margin 44.5% over 10y, very stable.

Returns on capital53

Median ROIC 12.3%, above the 9% hurdle in 60% of years.

Balance-sheet safety100

Net cash position — no leverage risk.

Capital discipline24

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

Margin of safety

Above valueOn sale

97% above value

Owner earnings (normalized): $3.5M
Est. intrinsic value / share: $6.25
Recent price: $12.30
Discount to value: 97% above value

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

Moat Score history

Score history begins 2026-07-17. Check back as the record builds.

Scores are logged append-only and never overwritten — this record can't be backfilled, which is exactly why it's worth keeping.

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Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell LEAT. See the disclaimer.