Matador Resources Company

MTDR · Materials · $6.6B mkt cap · FY2025 filings · Narrow moat

Wonderful & reasonably priced

Narrow moat

The four filters

Pricing power100

Median gross margin 95.4% over 6y, very stable.

Returns on capital68

Median ROIC 14.2%, above the 9% hurdle in 80% of years.

Balance-sheet safety45

Net debt/EBITDA 1.4x, interest coverage 6x.

Capital discipline24

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

Margin of safety

Above valueOn sale

57% below value

Owner earnings (normalized): $846.1M
Est. intrinsic value / share: $122.56
Recent price: $53.24
Discount to value: 57% below value

Conservative model: 9% discount rate, 4% 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 MTDR. See the disclaimer.