Does MIND TECHNOLOGY, INC have an economic moat?

Based on its FY2026 SEC filings, the Moat Index scores MIND TECHNOLOGY, INC (MIND) 47.1 out of 100 — a Shallow moat. The four filters behind that score (each 0–100): pricing power 44, returns on capital 4, balance-sheet safety 100, capital discipline 64.

Is MIND 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 $1.17 per share versus a recent price of $5.17 — 341% above value. This is an educational estimate computed from primary SEC filings, not investment advice.

How has MIND's Moat Score changed over time?

The record logs 2 readings since Jul 17, 2026; the latest reads 47.1 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

MIND TECHNOLOGY, INC

MIND · Healthcare · $47.0M mkt cap · FY2026 filings · Shallow moat ·

Doesn't clear the bar

Shallow moat

The four filters

Pricing power44

Median gross margin 43.3% over 9y, variable.

Returns on capital4

Median ROIC -20.9%, above the 9% hurdle in 10% of years.

Balance-sheet safety100

Net cash position — no leverage risk.

Capital discipline64

Owner earnings trend unclear, share count shrinking (buybacks).

Margin of safety

Above valueOn sale

341% above value

Owner earnings (normalized): $960000
Est. intrinsic value / share: $1.17
Recent price: $5.17
Discount to value: 341% 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 MIND 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 scale47.1 / 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 — MIND 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.

Healthcare context

#144 of 440 scored Healthcare companies, ranked by Moat Score.

Nearest peers by Moat Score

#142LIVN LivaNova PLC47.2 out of 100, Shallow moatShallow moat
#143DHR Danaher Corporation47.1 out of 100, Shallow moatShallow moat
#145BCRX BIOCRYST PHARMACEUTICALS, INC.46.9 out of 100, Shallow moatShallow moat
#146ATRC AtriCure, Inc.46.9 out of 100, Shallow moatShallow moat

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

Common questions about MIND

Does MIND TECHNOLOGY, INC have an economic moat?: Based on its FY2026 SEC filings, the Moat Index scores MIND TECHNOLOGY, INC (MIND) 47.1 out of 100 — a Shallow moat. The four filters behind that score (each 0–100): pricing power 44, returns on capital 4, balance-sheet safety 100, capital discipline 64.
Is MIND 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 $1.17 per share versus a recent price of $5.17 — 341% above value. This is an educational estimate computed from primary SEC filings, not investment advice.
How has MIND's Moat Score changed over time?: The record logs 2 readings since Jul 17, 2026; the latest reads 47.1 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 MIND. See the disclaimer.