NOBILITY HOMES, INC.

NOBH · Materials · $97.6M mkt cap · FY2025 filings · Narrow moat

Wonderful & reasonably priced

Narrow moat

The four filters

Pricing power40

Median gross margin 29.0% over 10y, stable.

Returns on capital100

Median ROIC 20.7%, above the 9% hurdle in 100% of years.

Balance-sheet safety100

Net cash position — no leverage risk.

Capital discipline77

Owner earnings +5.4%/yr, share count shrinking (buybacks).

Margin of safety

Above valueOn sale

34% below value

Owner earnings (normalized): $8.3M
Est. intrinsic value / share: $45.73
Recent price: $29.99
Discount to value: 34% 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 NOBH. See the disclaimer.