Does New Fortress Energy Inc. have an economic moat?

Based on its FY2025 SEC filings, the Moat Index scores New Fortress Energy Inc. (NFE) 16.0 out of 100 — below the Shallow-moat bar, so no moat. The four filters behind that score (each 0–100): pricing power 11, returns on capital 8, balance-sheet safety 28, capital discipline 24.

Is NFE 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 $3.94 per share versus a recent price of $0.36 — 91% below value. This is an educational estimate computed from primary SEC filings, not investment advice.

How has NFE's Moat Score changed over time?

The record logs 2 readings since Jul 17, 2026; the latest reads 16.0 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

New Fortress Energy Inc.

NFE · Utilities · $97.7M mkt cap · FY2025 filings · No moat ·

Doesn't clear the bar

No moat

The four filters

Pricing power11

Median gross margin 22.1% over 9y, variable.

Returns on capital8

Median ROIC -8.4%, above the 9% hurdle in 22% of years.

Balance-sheet safety28

Net debt/EBITDA n/ax, interest coverage -1x.

Capital discipline24

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

Margin of safety

Above valueOn sale

91% below value

Owner earnings (normalized): $97.1M
Est. intrinsic value / share: $3.94
Recent price: $0.36
Discount to value: 91% below 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 NFE 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 scale16.0 / 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 — NFE 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.

Utilities context

#42 of 48 scored Utilities companies, ranked by Moat Score.

Nearest peers by Moat Score

#40OPTT Ocean Power Technologies, Inc.19.8 out of 100, No moatNo moat
#41AWX AVALON HOLDINGS CORPORATION16.8 out of 100, No moatNo moat
#43SNTW SUMMIT NETWORKS INC.14.8 out of 100, No moatNo moat
#44MNTK MONTAUK RENEWABLES, INC.14.6 out of 100, No moatNo moat

Compare NFE with its nearest peers →All Utilities companies on the Index →

Common questions about NFE

Does New Fortress Energy Inc. have an economic moat?: Based on its FY2025 SEC filings, the Moat Index scores New Fortress Energy Inc. (NFE) 16.0 out of 100 — below the Shallow-moat bar, so no moat. The four filters behind that score (each 0–100): pricing power 11, returns on capital 8, balance-sheet safety 28, capital discipline 24.
Is NFE 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 $3.94 per share versus a recent price of $0.36 — 91% below value. This is an educational estimate computed from primary SEC filings, not investment advice.
How has NFE's Moat Score changed over time?: The record logs 2 readings since Jul 17, 2026; the latest reads 16.0 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 NFE. See the disclaimer.