NAPCO SECURITY TECHNOLOGIES, INC

NSSC · Technology · $1.3B mkt cap · FY2025 filings · Narrow moat

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Narrow moat

The four filters

Pricing power45

Median gross margin 43.8% over 10y, variable.

Returns on capital100

Median ROIC 21.3%, above the 9% hurdle in 100% of years.

Balance-sheet safety100

Net cash position — no leverage risk.

Capital discipline80

Owner earnings +24.7%/yr, share count n/a.

Margin of safety

Above valueOn sale

166% above value

Owner earnings (normalized): $27.1M
Est. intrinsic value / share: $13.69
Recent price: $36.42
Discount to value: 166% above 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 NSSC. See the disclaimer.