Does N-able, Inc. have an economic moat?

Based on its FY2025 SEC filings, the Moat Index scores N-able, Inc. (NABL) 44.1 out of 100 — a Shallow moat. The four filters behind that score (each 0–100): pricing power 99, returns on capital 0, balance-sheet safety 52, capital discipline 20.

Is NABL stock trading below its intrinsic value?

Against a deliberately conservative owner-earnings model (9% discount rate, 4% assumed growth, capped at 4%), estimated intrinsic value is $2.73 per share versus a recent price of $4.77 — 75% above value. This is an educational estimate computed from primary SEC filings, not investment advice.

How has NABL's Moat Score changed over time?

The record logs 2 readings since Jul 17, 2026; the latest reads 44.1 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

N-able, Inc.

NABL · Technology · $890.5M mkt cap · FY2025 filings · Shallow moat ·

Doesn't clear the bar

Shallow moat

The four filters

Pricing power99

Median gross margin 82.7% over 7y, very stable.

Returns on capital0

Median ROIC 4.1%, above the 9% hurdle in 0% of years.

Balance-sheet safety52

Net debt/EBITDA 3.5x, no material interest expense disclosed.

Capital discipline20

Owner earnings -23.9%/yr, share count n/a.

Margin of safety

Above valueOn sale

75% above value

Owner earnings (normalized): $28.3M
Est. intrinsic value / share: $2.73
Recent price: $4.77
Discount to value: 75% above value

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

Fundamentals

There's no normalized fundamentals series for NABL 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 scale44.1 / 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 — NABL 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

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

Nearest peers by Moat Score

#254MTSI MACOM Technology Solutions Holdings, Inc.44.2 out of 100, Shallow moatShallow moat
#255SBIG SPRINGBIG HOLDINGS, INC.44.2 out of 100, Shallow moatShallow moat
#257BYRN Byrna Technologies Inc.44.0 out of 100, Shallow moatShallow moat
#258ZDGE ZEDGE, INC.44.0 out of 100, Shallow moatShallow moat

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

Common questions about NABL

Does N-able, Inc. have an economic moat?: Based on its FY2025 SEC filings, the Moat Index scores N-able, Inc. (NABL) 44.1 out of 100 — a Shallow moat. The four filters behind that score (each 0–100): pricing power 99, returns on capital 0, balance-sheet safety 52, capital discipline 20.
Is NABL stock trading below its intrinsic value?: Against a deliberately conservative owner-earnings model (9% discount rate, 4% assumed growth, capped at 4%), estimated intrinsic value is $2.73 per share versus a recent price of $4.77 — 75% above value. This is an educational estimate computed from primary SEC filings, not investment advice.
How has NABL's Moat Score changed over time?: The record logs 2 readings since Jul 17, 2026; the latest reads 44.1 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 NABL. See the disclaimer.