Does Can B Corp. have an economic moat?

Based on its FY2023 SEC filings, the Moat Index scores Can B Corp. (NASC) 35.3 out of 100 — below the Shallow-moat bar, so no moat. The four filters behind that score (each 0–100): pricing power 70, returns on capital 0, balance-sheet safety 28, capital discipline 44.

How has NASC's Moat Score changed over time?

The record logs 2 readings since Jul 17, 2026; the latest reads 35.3 out of 100 (no moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

The Moat Index

Can B Corp.

NASC · Industrials · $57494 mkt cap · FY2023 filings · No moat ·

Doesn't clear the bar

No moat

The four filters

Pricing power70

Median gross margin 63.8% over 7y, variable.

Returns on capital0

Median ROIC -156.9%, above the 9% hurdle in 0% of years.

Balance-sheet safety28

Net debt/EBITDA n/ax, interest coverage -3x.

Capital discipline44

Owner earnings trend unclear, share count n/a.

Margin of safety

Above valueOn sale

No price data

Owner earnings (normalized): —
Est. intrinsic value / share: —
Recent price: $0.01
Discount to value: No price data

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 NASC 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 scale35.3 / 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 — NASC has read No 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.

Industrials context

#171 of 309 scored Industrials companies, ranked by Moat Score.

Nearest peers by Moat Score

#169LIND LINDBLAD EXPEDITIONS HOLDINGS, INC.35.6 out of 100, No moatNo moat
#170RCL ROYAL CARIBBEAN CRUISES LTD35.4 out of 100, No moatNo moat
#172SONO SONOS, INC.34.8 out of 100, No moatNo moat
#173KBR KBR, Inc.34.8 out of 100, No moatNo moat

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

Common questions about NASC

Does Can B Corp. have an economic moat?: Based on its FY2023 SEC filings, the Moat Index scores Can B Corp. (NASC) 35.3 out of 100 — below the Shallow-moat bar, so no moat. The four filters behind that score (each 0–100): pricing power 70, returns on capital 0, balance-sheet safety 28, capital discipline 44.
How has NASC's Moat Score changed over time?: The record logs 2 readings since Jul 17, 2026; the latest reads 35.3 out of 100 (no 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 NASC. See the disclaimer.