Does NEPHROS, INC. have an economic moat?

Based on its FY2025 SEC filings, the Moat Index scores NEPHROS, INC. (NEPH) 48.0 out of 100 — a Shallow moat. The four filters behind that score (each 0–100): pricing power 92, returns on capital 4, balance-sheet safety 73, capital discipline 24.

How has NEPH's Moat Score changed over time?

The record logs 2 readings since Jul 17, 2026; the latest reads 48.0 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

NEPHROS, INC.

NEPH · Healthcare · $40.2M mkt cap · FY2025 filings · Shallow moat ·

Doesn't clear the bar

Shallow moat

The four filters

Pricing power92

Median gross margin 58.1% over 10y, very stable.

Returns on capital4

Median ROIC -60.1%, above the 9% hurdle in 10% of years.

Balance-sheet safety73

Net debt/EBITDA n/ax, interest coverage 1146x.

Capital discipline24

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

Margin of safety

Above valueOn sale

No price data

Owner earnings (normalized): —
Est. intrinsic value / share: —
Recent price: $3.78
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 NEPH 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 scale48.0 / 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 — NEPH 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.

Healthcare context

#130 of 440 scored Healthcare companies, ranked by Moat Score.

Nearest peers by Moat Score

#128VIR Vir Biotechnology, Inc.48.6 out of 100, Shallow moatShallow moat
#129CLDX Celldex Therapeutics, Inc.48.4 out of 100, Shallow moatShallow moat
#131PAHC Phibro Animal Health Corporation47.9 out of 100, Shallow moatShallow moat
#132ONC BEONE MEDICINES LTD.47.9 out of 100, Shallow moatShallow moat

Compare NEPH with its nearest peers →All Healthcare companies on the Index →

Common questions about NEPH

Does NEPHROS, INC. have an economic moat?: Based on its FY2025 SEC filings, the Moat Index scores NEPHROS, INC. (NEPH) 48.0 out of 100 — a Shallow moat. The four filters behind that score (each 0–100): pricing power 92, returns on capital 4, balance-sheet safety 73, capital discipline 24.
How has NEPH's Moat Score changed over time?: The record logs 2 readings since Jul 17, 2026; the latest reads 48.0 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 NEPH. See the disclaimer.