Does MESA LABORATORIES INC /CO have an economic moat?

Based on its FY2026 SEC filings, the Moat Index scores MESA LABORATORIES INC /CO (MLAB) 53.5 out of 100 — a Shallow moat. The five questions behind that score begin at 20% each; if exactly one genuinely lacks data, the other four weights are renormalized and disclosed. revenue and EPS trend 86, pricing power 98, returns on capital 0, balance-sheet safety 42, capital allocation 43.

Is MLAB trading below the conservative owner-earnings estimate?

The value if growth stopped today — a zero-growth baseline — is $45.26 per share. It capitalizes normalized owner earnings at a 9% rate and assumes 0% growth. Versus a recent price of $122.48, that is 171% above value if growth stopped today. The model also publishes a capped-growth comparison, but the zero-growth estimate is the cautious baseline. It assumes trailing owner earnings persist and is unreliable for declining businesses. This is an educational estimate from primary SEC filings, not intrinsic value as a fact or investment advice.

How has MLAB's Moat Score changed over time?

The record logs 29 readings since Jul 17, 2026; the latest reads 53.5 out of 100 (shallow moat). No tier changes on record yet. (Methodology or normalizer upgrades on Jul 20, 2026, Jul 23, 2026, Jul 26, 2026 re-based the score; readings across versions aren't compared.) The history is append-only — readings are only ever added, never rewritten.

MESA LABORATORIES INC /CO

MLAB · Industrials · $677M mkt cap · FY2026 filings · as of Oct 17, 2026 · Shallow moat ·

Doesn't clear the bar

Shallow moat

The five investor questions

2022–2026 (latest 5 aligned FYs; v3 window cap 5): revenue $184M to $249M, increasing; diluted EPS 0.35 to 1.21, increasing.

Median gross margin 60.1% over 10y, very stable.

Median ROIC 4.5%, above the 12% hurdle in 0% of years.

Net debt/EBITDA 1.0x, interest coverage 2x.

Owner earnings changed +7.1%/yr over up to the ten most recent annual observations.

Price vs. value if growth stopped today

A cautious baseline, not a price target: what the shares may support if normalized owner earnings simply hold steady.

Above value if growth stopped todayBelow value if growth stopped today

171% above value if growth stopped today

: $22.5M
: $45.26
: $73.33
: $122.48
: 171% above value if growth stopped today

What today’s price assumes: owner earnings growing ~22%/yr over 5 years. The zero-growth estimate assumes owner earnings stay flat (0% growth).

How to read this

We solve for the constant annual change in owner earnings that would make the five-year zero-growth estimate equal today’s price. This keeps the existing model inputs and calculation unchanged; it is an expectations lens, not a forecast.

This zero-growth estimate assumes trailing owner earnings persist — unreliable for declining businesses. The recent FY revenue series does not trigger the three-consecutive-declines flag.

Among the current top-score group, the median current price is 243% above the zero-growth estimate across 49 of the current top 50 companies by Moat Score with both values.

Score records captured Oct 17, 2026.

Exactly which 50 companies?

FTNT, IBEX, META, MEDP, MSFT, GOOG, LULU, ANF, IDXX, TXRH, FHI, QLYS, FFIV, ADBE, LLY, MANH, CPRT, VEEV, RMD, GRMN, PCTY, EAT, UI, SSD, MNST, DOCS, LRCX, MCO, NTAP, NVDA, CORT, SFM, MPTI, ULTA, SN, ROL, CTAS, PAYC, IRMD, DECK, MORN, INTU, JKHY, TPR, LGCY, DAL, GWW, ISRG, MPWR, LOPE

Missing a usable price or zero-growth estimate: ANF.

Model details under moat-index@3.0.0: zero-growth multiple 11.1×, capped-growth comparison at no more than 18×; 9% discount rate; high-end growth 4% (capped at 4%) using min(5y revenue CAGR, 5y diluted-EPS CAGR), clamped to 0%–4%; maintenance capex uses min(capex, D&A); abstain when D&A is unavailable. This is a disclosed model range, not intrinsic value as fact.

17 years of fundamentals

The business, in plain English

MESA LABORATORIES INC /CO booked $249M of revenue in FY2026 in the Industrials sector and kept 63.5% of it as gross profit — a high-margin business by that measure. After every other cost, 2.7% of each revenue dollar reached the bottom line.

Across the filed record, revenue grew from $34.2M (FY2011) to $249M (FY2026) — about 14.1% a year compounded over 15 years.

It earned 5.3% on invested capital in the latest filed year, FY2026. Across the full 16-year measurable filed record, median ROIC was 7.8%. Over the v3 recent window (10 measurable filed years), median ROIC was 4.5%. The Returns on Capital filter above scores it 0/100.

The balance sheet carried $67.5M of total debt in FY2026 against $26.7M of owner earnings — roughly 2.5 years of owner earnings to retire it all. Balance-Sheet Safety scores it 42/100.

Put together: Pricing Power is the strongest of the five filters (98/100) and Returns on Capital the weakest (0/100), which is how MLAB lands at 54/100 — a Shallow moat.

This breakdown is generated from the filed numbers and sub-scores above — no outside narrative, no estimates. Where a filing doesn’t disclose an input, the sentence that would need it is omitted instead of guessed.

Sales, as filed$249M FY2026

Revenue kept after cost of goods63.5% FY2026

Standard ROIC or separately labeled Operating ROICStandard ROIC 4.8% FY2026

Exact FY and FY-1 financing invested-capital inputs are required.

Cash an owner could take out$26.7M FY2026

The explained ROIC gaps have filed inputs but no meaningful positive invested-capital denominator. Other gaps mean the item is not in the filings for that year. The series is never interpolated or estimated. The Table view lists every filed value, including operating and net margins, total debt, and share count.

Flagship explainer

How MESA LABORATORIES INC /CO makes its money

Start with a dollar of revenue and follow what the filing says remains.

Honest partial: the filing did not provide a normalized tag for Research and development, Selling, general and administrative; those components are omitted, not plugged.

Table alternative
Filed line	Value	% of revenue	Source
	$249M	100%	10-K · FY 2026Filing detailsAccession 0000724004-26-000047 · filed Jun 3, 2026
Cost of revenue	$90.9M	36%	10-K · FY 2026Filing detailsAccession 0000724004-26-000047 · filed Jun 3, 2026
	$158M	64%	10-K · FY 2026Filing detailsAccession 0000724004-26-000047 · filed Jun 3, 2026
	$18.5M	7%	10-K · FY 2026Filing detailsAccession 0000724004-26-000047 · filed Jun 3, 2026
Income before tax	$12M	5%	10-K · FY 2026Filing detailsAccession 0000724004-26-000047 · filed Jun 3, 2026
Income tax	$5.3M	2%	10-K · FY 2026Filing detailsAccession 0000724004-26-000047 · filed Jun 3, 2026
	$6.7M	3%	10-K · FY 2026Filing detailsAccession 0000724004-26-000047 · filed Jun 3, 2026

Source:

10-K · FY 2026Filing detailsAccession 0000724004-26-000047 · filed Jun 3, 2026

· event Mar 31, 2026 · retrieved Oct 17, 2026 · annual-row source set

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Flagship explainer

What MESA LABORATORIES INC /CO owns — and owes

MESA LABORATORIES INC /CO's filing tags don't support a full breakdown — here's what is filed:

Table alternative
Filed line	Value	% of assets	Source
Total assets	$428M	100%	10-K · FY 2026Filing detailsAccession 0000724004-26-000047 · filed Jun 3, 2026
Cash and equivalents	$26.9M	6%	10-K · FY 2026Filing detailsAccession 0000724004-26-000047 · filed Jun 3, 2026
	$67.5M	16%	10-K · FY 2026Filing detailsAccession 0000724004-26-000047 · filed Jun 3, 2026
Stockholders’ equity	$186M	44%	10-K · FY 2026Filing detailsAccession 0000724004-26-000047 · filed Jun 3, 2026

Source:

10-K · FY 2026Filing detailsAccession 0000724004-26-000047 · filed Jun 3, 2026

· event Mar 31, 2026 · retrieved Oct 17, 2026 · annual-row source set

Flagship explainer

What drives MESA LABORATORIES INC /CO’s return on equity?

ROE is five filed business factors multiplied together.

DuPont source inputs
Input	Value	Fiscal year	Source
	$6.7M	FY2026	10-K · FY 2026Filing detailsAccession 0000724004-26-000047 · filed Jun 3, 2026
Income before tax	$12M	FY2026	10-K · FY 2026Filing detailsAccession 0000724004-26-000047 · filed Jun 3, 2026
Operating income	$18.5M	FY2026	10-K · FY 2026Filing detailsAccession 0000724004-26-000047 · filed Jun 3, 2026
	$249M	FY2026	10-K · FY 2026Filing detailsAccession 0000724004-26-000047 · filed Jun 3, 2026
Ending assets	$428M	FY2026	10-K · FY 2026Filing detailsAccession 0000724004-26-000047 · filed Jun 3, 2026
Beginning assets	$433M	FY2025	10-K · FY 2025Filing detailsAccession 0000724004-26-000047 · filed Jun 3, 2026 10-K · FY 2025Filing detailsAccession 0001437749-25-018586 · filed May 28, 2025
	$186M	FY2026	10-K · FY 2026Filing detailsAccession 0000724004-26-000047 · filed Jun 3, 2026
	$160M	FY2025	10-K · FY 2025Filing detailsAccession 0000724004-26-000047 · filed Jun 3, 2026 10-K · FY 2025Filing detailsAccession 0001437749-25-018586 · filed May 28, 2025

Source:

10-K · filed Jun 3, 2026Filing detailsAccession 0000724004-26-000047 · filed Jun 3, 2026
10-K · filed May 28, 2025Filing detailsAccession 0001437749-25-018586 · filed May 28, 2025

· event Mar 31, 2026 · retrieved Oct 17, 2026 · annual-row source set

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Flagship explainer

Where MESA LABORATORIES INC /CO's cash went

MESA LABORATORIES INC /CO’s filing does not supply enough provenance-matched cash-flow lines for a truthful flow chart — here’s what is filed:

Table alternative
Filed line	Value	% of cash from operations	Source
Cash from operations	$42.8M	100%	10-K · FY 2026Filing detailsAccession 0000724004-26-000047 · filed Jun 3, 2026
Depreciation and amortization	$23.3M	54%	10-K · FY 2026Filing detailsAccession 0000724004-26-000047 · filed Jun 3, 2026

Source:

10-K · FY 2026Filing detailsAccession 0000724004-26-000047 · filed Jun 3, 2026

· event Mar 31, 2026 · retrieved Oct 17, 2026 · annual-row source set

Curated 19-manager tier

Who reported holding MESA LABORATORIES INC /CO

Delayed public 13F reports for 2026-Q2—not live positions, trades, or recommendations.

0 holding0 exited0 not holding0/19 resolved19 not retrieved

Named manager positions and quarter-over-quarter changes
Manager	Reported position	Quarter-over-quarter	Filing accession
Abrams Capital	Not retrieved	Comparison not retrieved	Filing not retrieved
Akre Capital	Not retrieved	Comparison not retrieved	Filing not retrieved
Baupost Group	Not retrieved	Comparison not retrieved	Filing not retrieved
Berkshire Hathaway	Not retrieved	Comparison not retrieved	Filing not retrieved
Brave Warrior Advisors	Not retrieved	Comparison not retrieved	Filing not retrieved
Dodge & Cox	Not retrieved	Comparison not retrieved	Filing not retrieved
First Eagle	Not retrieved	Comparison not retrieved	Filing not retrieved
Fundsmith	Not retrieved	Comparison not retrieved	Filing not retrieved
Gardner Russo & Quinn	Not retrieved	Comparison not retrieved	Filing not retrieved
Gates Foundation Trust	Not retrieved	Comparison not retrieved	Filing not retrieved
Mairs & Power	Not retrieved	Comparison not retrieved	Filing not retrieved
Markel / Markel-Gayner	Not retrieved	Comparison not retrieved	Filing not retrieved
Oakmark / Harris Associates	Not retrieved	Comparison not retrieved	Filing not retrieved
Pershing Square	Not retrieved	Comparison not retrieved	Filing not retrieved
Polen Capital	Not retrieved	Comparison not retrieved	Filing not retrieved
Sequoia / Ruane Cunniff	Not retrieved	Comparison not retrieved	Filing not retrieved
Southeastern Asset Management	Not retrieved	Comparison not retrieved	Filing not retrieved
Tweedy, Browne	Not retrieved	Comparison not retrieved	Filing not retrieved
Yacktman Asset Management	Not retrieved	Comparison not retrieved	Filing not retrieved

Position size uses shares and filed value from each manager’s 13F. Portfolio weight uses the eligible long-share filing denominator. Changes compare only with the immediately preceding calendar quarter.

Source: Filing source not retrieved · event Jun 30, 2026 · retrieved Oct 17, 2026

Flagship explainer

What MESA LABORATORIES INC /CO insiders reported

Records still being gathered — partial as of retrieval Oct 17, 2026.

Partial coverage: the incomplete Form 4 walk cannot establish no activity, an activity date, or zero counts.

Moat Score history

Moat Score over timeLast scored reading of each day, on the 0–100 scale53.5 / 100

Breaks in the line mark methodology or normalizer upgrades — readings across versions aren’t compared, so a level shift there isn’t a change in the business.

Tier changesSame-methodology and same-normalizer crossings of the Wide / Narrow / Shallow bars

Normalizer upgraded unstamped (version unknown)tomoat-xbrl-normalizer@1.1.0 — readings across versions aren’t comparedJul 26, 2026
Methodology upgraded moat-index@2.0.0tomoat-index@3.0.0 — readings across versions aren’t comparedJul 23, 2026
Methodology upgraded moat-index@1.2.0tomoat-index@2.0.0 — readings across versions aren’t comparedJul 20, 2026

Scores are logged append-only and never overwritten — this record cannot be reconstructed retroactively, which is exactly why it’s worth keeping.

Insider activity

Form 4 reports mix P/S market or private transactions with compensation-plan mechanics. Activity casually described as “insider selling” can include compensation mechanics; awards, tax withholding, and option exercises are shown by their exact filed class here, never collapsed into “Bought” or “Sold.”

These are disclosed filing facts and arithmetic aggregates, not a signal or verdict.

This machine-readable surface covers SEC ownership filings from 2003; it does not represent earlier paper-era records.

Records still being gathered — partial as of retrieval Oct 17, 2026.

18 filings were skipped because the SEC primary document returned 404; the omission is disclosed and aggregates are withheld.

Among the rows shown, A/F/M acquisition, payment or withholding, and exercise or conversion rows outnumber S sale rows (17 versus 1). The filing codes alone do not establish that every such row arose from a compensation plan.

Trailing-12-month totals and the 90-day cluster result are withheld because this issuer walk is incomplete.

Insider					Shares owned after	Date	Filing detail
Capone Mark ChristopherDirector	Grant, award, or other acquisition (A)Table II · Acquired · Restricted Stock Units - 4	2,423	—Grant, award, or other acquisition (A)	—	2,423	Sep 9, 2026	1 filed lot Table II · Restricted Stock Units - 4: 2,423 shares at — (Grant, award, or other acquisition (A)) · code A · owned after 2,423 · FORM 4 · filed Sep 11, 2026Filing detailsAccession 0000724004-26-000097 · filed Sep 11, 2026
Ladiwala Shiraz ShabanaliDirector	Grant, award, or other acquisition (A)Table II · Acquired · Restricted Stock Units - 7	2,510	—Grant, award, or other acquisition (A)	—	2,510	Sep 9, 2026	1 filed lot Table II · Restricted Stock Units - 7: 2,510 shares at — (Grant, award, or other acquisition (A)) · code A · owned after 2,510 · FORM 4 · filed Sep 11, 2026Filing detailsAccession 0000724004-26-000096 · filed Sep 11, 2026
Hall ShannonDirector	Grant, award, or other acquisition (A)Table II · Acquired · Restricted Stock Units - 9	1,774	—Grant, award, or other acquisition (A)	—	1,774	Sep 9, 2026	1 filed lot Table II · Restricted Stock Units - 9: 1,774 shares at — (Grant, award, or other acquisition (A)) · code A · owned after 1,774 · FORM 4 · filed Sep 11, 2026Filing detailsAccession 0000724004-26-000094 · filed Sep 11, 2026
Sullivan John JamesDirector	Grant, award, or other acquisition (A)Table II · Acquired · Restricted Stock Units - 11	1,774	—Grant, award, or other acquisition (A)	—	1,774	Sep 9, 2026	1 filed lot Table II · Restricted Stock Units - 11: 1,774 shares at — (Grant, award, or other acquisition (A)) · code A · owned after 1,774 · FORM 4 · filed Sep 11, 2026Filing detailsAccession 0000724004-26-000093 · filed Sep 11, 2026
Tripeny R TonyDirector	Grant, award, or other acquisition (A)Table II · Acquired · Restricted Stock Units - 5	1,774	—Grant, award, or other acquisition (A)	—	1,774	Sep 9, 2026	1 filed lot Table II · Restricted Stock Units - 5: 1,774 shares at — (Grant, award, or other acquisition (A)) · code A · owned after 1,774 · FORM 4 · filed Sep 11, 2026Filing detailsAccession 0000724004-26-000092 · filed Sep 11, 2026
Capone Mark ChristopherDirector	Exercise or conversion of derivative security (M)Table I · Acquired · Common Stock · 1 paired event	2,784	—Exercise or conversion of derivative security (M)	—	6,213	Aug 15, 2026	1 filed lot Table I · Common Stock: 2,784 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 6,213 · Paired event: 2,784 Restricted Stock Units - 3 → 2,784 Common Stock · FORM 4 · filed Aug 17, 2026Filing detailsAccession 0000724004-26-000091 · filed Aug 17, 2026
Capone Mark ChristopherDirector	Exercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Units - 3 · 1 paired event	2,784	—Exercise or conversion of derivative security (M)	—	0	Aug 15, 2026	1 filed lot Table II · Restricted Stock Units - 3: 2,784 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 0 · Paired event: 2,784 Restricted Stock Units - 3 → 2,784 Common Stock · FORM 4 · filed Aug 17, 2026Filing detailsAccession 0000724004-26-000091 · filed Aug 17, 2026
Alltoft Jennifer SadieDirector	Exercise or conversion of derivative security (M)Table I · Acquired · Common Stock · 1 paired event	2,784	—Exercise or conversion of derivative security (M)	—	7,662	Aug 15, 2026	1 filed lot Table I · Common Stock: 2,784 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 7,662 · Paired event: 2,784 Restricted Stock Units - 9 → 2,784 Common Stock · FORM 4 · filed Aug 17, 2026Filing detailsAccession 0000724004-26-000090 · filed Aug 17, 2026
Alltoft Jennifer SadieDirector	Exercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Units - 9 · 1 paired event	2,784	—Exercise or conversion of derivative security (M)	—	0	Aug 15, 2026	1 filed lot Table II · Restricted Stock Units - 9: 2,784 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 0 · Paired event: 2,784 Restricted Stock Units - 9 → 2,784 Common Stock · FORM 4 · filed Aug 17, 2026Filing detailsAccession 0000724004-26-000090 · filed Aug 17, 2026
Ladiwala Shiraz ShabanaliDirector	Exercise or conversion of derivative security (M)Table I · Acquired · Common Stock · 1 paired event	3,810	—Exercise or conversion of derivative security (M)	—	12,333	Aug 15, 2026	1 filed lot Table I · Common Stock: 3,810 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 12,333 · Paired event: 3,810 Restricted Stock Units - 6 → 3,810 Common Stock · FORM 4 · filed Aug 17, 2026Filing detailsAccession 0000724004-26-000089 · filed Aug 17, 2026
Ladiwala Shiraz ShabanaliDirector	Exercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Units - 6 · 1 paired event	3,810	—Exercise or conversion of derivative security (M)	—	0	Aug 15, 2026	1 filed lot Table II · Restricted Stock Units - 6: 3,810 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 0 · Paired event: 3,810 Restricted Stock Units - 6 → 3,810 Common Stock · FORM 4 · filed Aug 17, 2026Filing detailsAccession 0000724004-26-000089 · filed Aug 17, 2026
Hall ShannonDirector	Exercise or conversion of derivative security (M)Table I · Acquired · Common Stock · 1 paired event	2,784	—Exercise or conversion of derivative security (M)	—	6,973	Aug 15, 2026	1 filed lot Table I · Common Stock: 2,784 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 6,973 · Paired event: 2,784 Restricted Stock Units - 8 → 2,784 Common Stock · FORM 4 · filed Aug 17, 2026Filing detailsAccession 0000724004-26-000088 · filed Aug 17, 2026
Hall ShannonDirector	Exercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Units - 8 · 1 paired event	2,784	—Exercise or conversion of derivative security (M)	—	0	Aug 15, 2026	1 filed lot Table II · Restricted Stock Units - 8: 2,784 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 0 · Paired event: 2,784 Restricted Stock Units - 8 → 2,784 Common Stock · FORM 4 · filed Aug 17, 2026Filing detailsAccession 0000724004-26-000088 · filed Aug 17, 2026
Tripeny R TonyDirector	Exercise or conversion of derivative security (M)Table I · Acquired · Common Stock · 1 paired event	2,784	—Exercise or conversion of derivative security (M)	—	9,082	Aug 15, 2026	1 filed lot Table I · Common Stock: 2,784 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 9,082 · Paired event: 2,784 Restricted Stock Units - 4 → 2,784 Common Stock · FORM 4 · filed Aug 17, 2026Filing detailsAccession 0000724004-26-000087 · filed Aug 17, 2026
Tripeny R TonyDirector	Exercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Units - 4 · 1 paired event	2,784	—Exercise or conversion of derivative security (M)	—	0	Aug 15, 2026	1 filed lot Table II · Restricted Stock Units - 4: 2,784 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 0 · Paired event: 2,784 Restricted Stock Units - 4 → 2,784 Common Stock · FORM 4 · filed Aug 17, 2026Filing detailsAccession 0000724004-26-000087 · filed Aug 17, 2026
Sullivan John JamesDirector	Exercise or conversion of derivative security (M)Table I · Acquired · Common Stock · 1 paired event	2,784	—Exercise or conversion of derivative security (M)	—	20,618	Aug 15, 2026	1 filed lot Table I · Common Stock: 2,784 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 20,618 · Paired event: 2,784 Restricted Stock Units - 10 → 2,784 Common Stock · FORM 4 · filed Aug 17, 2026Filing detailsAccession 0000724004-26-000086 · filed Aug 17, 2026
Sullivan John JamesDirector	Exercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Units - 10 · 1 paired event	2,784	—Exercise or conversion of derivative security (M)	—	0	Aug 15, 2026	1 filed lot Table II · Restricted Stock Units - 10: 2,784 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 0 · Paired event: 2,784 Restricted Stock Units - 10 → 2,784 Common Stock · FORM 4 · filed Aug 17, 2026Filing detailsAccession 0000724004-26-000086 · filed Aug 17, 2026
Sullivan John JamesDirector	Open-market or private sale (S)Table I · Disposed · Common Stock	7,093	$112.80	$800,090	17,834	Aug 13, 2026	1 filed lot Table I · Common Stock: 7,093 shares at $112.80 · code S · owned after 17,834 · FORM 4 · filed Aug 17, 2026Filing detailsAccession 0000724004-26-000085 · filed Aug 17, 2026
Kadia SiddharthaPresident and CEO	Open-market or private purchase (P)Table I · Acquired · Common Stock	7,093	$112.80	$800,090	7,093	Aug 13, 2026	1 filed lot Table I · Common Stock: 7,093 shares at $112.80 · code P · owned after 7,093 · FORM 4 · filed Aug 17, 2026Filing detailsAccession 0000724004-26-000084 · filed Aug 17, 2026
Tripeny R TonyDirector	Open-market or private purchase (P)Table I · Acquired · Common Stock	900	$113.69	$102,321	6,298	Aug 13, 2026	1 filed lot Table I · Common Stock: 900 shares at $113.69 · code P · owned after 6,298 · FORM 4 · filed Aug 17, 2026Filing detailsAccession 0000724004-26-000083 · filed Aug 17, 2026

Source-event as of Sep 9, 2026. Retrieved Oct 17, 2026.

Track record

How MESA LABORATORIES INC /CO’s moat rated in each of the years we can reconstruct from its filings — scored only on what was knowable at the time — and what its price and returns did afterward. The score never saw a price; the two are joined only in hindsight, for education, not as a signal.

Point-in-time Moat Score (dot colored by tier)Indexed price (total-return (dividends reinvested))Rated Wide-moat that year

How to read this: each dot is what the engine would have scored MLAB on that December 31; the line below is its total-return price path (dividends reinvested) in the years since.

Two tracks, one timeline: the score has its own 0–100 scale (top), the price its own 100-based scale (bottom) — never a shared axis. The price path is a total-return (dividends reinvested) index built from the same data the forward returns use; gaps in the score line are years with no reconstructed rating (see the table for why). The Table view carries every value.

What followed, in the years it rated Wide

In the 5 years MLAB rated Wide-moat (2012, 2013, 2014, 2015 and 2016), the median forward total return that followed — measured only after each year’s filings were public — was:

1 year 24% vs the S&P 500’s 12% (price basis) · median over 5 years
3 years 95% vs the S&P 500’s 31% (price basis) · median over 5 years
5 years 178% vs the S&P 500’s 84% (price basis) · median over 5 years

These are medians computed from the data, not a claim about any one year. The company figures are total returns (dividends reinvested); the S&P 500 is the price-only ^GSPC index, which excludes dividends and so understates the index — the gap flatters the company. A quality rating is not a return forecast, and past returns don’t predict future ones. Educational only, not investment advice.

Industrials context

#149 of 448 scored Industrials companies, ranked by Moat Score.

Nearest peers by Moat Score

#147ESAB ESAB Corporation53.6 out of 100, Shallow moatShallow moat
#148CRS CARPENTER TECHNOLOGY CORPORATION53.5 out of 100, Shallow moatShallow moat
#150FTV Fortive Corporation53.2 out of 100, Shallow moatShallow moat
#151RWAX TAP REAL ESTATE TECHNOLOGIES, INC.53.1 out of 100, Shallow moatShallow moat

Compare MLAB with its nearest peers →All Industrials companies on the Index →

Common questions about MLAB

Does MESA LABORATORIES INC /CO have an economic moat?: Based on its FY2026 SEC filings, the Moat Index scores MESA LABORATORIES INC /CO (MLAB) 53.5 out of 100 — a Shallow moat. The five questions behind that score begin at 20% each; if exactly one genuinely lacks data, the other four weights are renormalized and disclosed. revenue and EPS trend 86, pricing power 98, returns on capital 0, balance-sheet safety 42, capital allocation 43.
Is MLAB trading below the conservative owner-earnings estimate?: The value if growth stopped today — a zero-growth baseline — is $45.26 per share. It capitalizes normalized owner earnings at a 9% rate and assumes 0% growth. Versus a recent price of $122.48, that is 171% above value if growth stopped today. The model also publishes a capped-growth comparison, but the zero-growth estimate is the cautious baseline. It assumes trailing owner earnings persist and is unreliable for declining businesses. This is an educational estimate from primary SEC filings, not intrinsic value as a fact or investment advice.
How has MLAB's Moat Score changed over time?: The record logs 29 readings since Jul 17, 2026; the latest reads 53.5 out of 100 (shallow moat). No tier changes on record yet. (Methodology or normalizer upgrades on Jul 20, 2026, Jul 23, 2026, Jul 26, 2026 re-based the score; readings across versions aren't compared.) The history is append-only — readings are only ever added, never rewritten.

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