Does Everspin Technologies, Inc. have an economic moat?

Based on its FY2025 SEC filings, the Moat Index scores Everspin Technologies, Inc. (MRAM) 43.4 out of 100 — a Shallow moat. The four filters behind that score (each 0–100): pricing power 81, returns on capital 11, balance-sheet safety 55, capital discipline 24.

Is MRAM 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 $2.31 per share versus a recent price of $14.55 — 531% above value. This is an educational estimate computed from primary SEC filings, not investment advice.

How has MRAM's Moat Score changed over time?

The record logs 2 readings since Jul 17, 2026; the latest reads 43.4 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

Everspin Technologies, Inc.

MRAM · Technology · $334.3M mkt cap · FY2025 filings · Shallow moat ·

Doesn't clear the bar

Shallow moat

The four filters

Pricing power81

Median gross margin 53.0% over 10y, stable.

Returns on capital11

Median ROIC -42.4%, above the 9% hurdle in 30% of years.

Balance-sheet safety55

Net cash position — no leverage risk.

Capital discipline24

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

Margin of safety

Above valueOn sale

531% above value

Owner earnings (normalized): $4.8M
Est. intrinsic value / share: $2.31
Recent price: $14.55
Discount to value: 531% 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 MRAM 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 scale43.4 / 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 — MRAM 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.

Technology context

#272 of 532 scored Technology companies, ranked by Moat Score.

Nearest peers by Moat Score

#270NXTT NEXT TECHNOLOGY HOLDING INC.43.5 out of 100, Shallow moatShallow moat
#271PSN Parsons Corporation43.4 out of 100, Shallow moatShallow moat
#273GUER Guerrilla RF, Inc.43.4 out of 100, Shallow moatShallow moat
#274S SENTINELONE, INC43.3 out of 100, Shallow moatShallow moat

Compare MRAM with its nearest peers →All Technology companies on the Index →

Common questions about MRAM

Does Everspin Technologies, Inc. have an economic moat?: Based on its FY2025 SEC filings, the Moat Index scores Everspin Technologies, Inc. (MRAM) 43.4 out of 100 — a Shallow moat. The four filters behind that score (each 0–100): pricing power 81, returns on capital 11, balance-sheet safety 55, capital discipline 24.
Is MRAM 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 $2.31 per share versus a recent price of $14.55 — 531% above value. This is an educational estimate computed from primary SEC filings, not investment advice.
How has MRAM's Moat Score changed over time?: The record logs 2 readings since Jul 17, 2026; the latest reads 43.4 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 MRAM. See the disclaimer.