Does NUTEX HEALTH INC. have an economic moat?

Based on its FY2025 SEC filings, the Moat Index scores NUTEX HEALTH INC. (NUTX) 57.8 out of 100 — a Shallow moat. The four filters behind that score (each 0–100): pricing power 40, returns on capital 83, balance-sheet safety 81, capital discipline 24.

Is NUTX 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 $107.82 per share versus a recent price of $162.98 — 51% above value. This is an educational estimate computed from primary SEC filings, not investment advice.

How has NUTX's Moat Score changed over time?

The record logs 3 readings since Jul 17, 2026; the latest reads 57.8 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

NUTEX HEALTH INC.

NUTX · Technology · $1.2B mkt cap · FY2025 filings · Shallow moat ·

Doesn't clear the bar

Shallow moat

The four filters

Pricing power40

Median gross margin 40.9% over 9y, variable.

Returns on capital83

Median ROIC 27.5%, above the 9% hurdle in 50% of years.

Balance-sheet safety81

Net cash position — no leverage risk.

Capital discipline24

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

Margin of safety

Above valueOn sale

51% above value

Owner earnings (normalized): $68.8M
Est. intrinsic value / share: $107.82
Recent price: $162.98
Discount to value: 51% above value

Conservative model: 9% discount rate, 0% assumed growth (capped at 4%), maintenance capex ≈ min(capex, D&A).

16 years of fundamentals

The business, in plain English

NUTEX HEALTH INC. booked $875.3M of revenue in FY2025 in the Technology sector and kept 50.8% of it as gross profit — a solid-margin business by that measure. After every other cost, 8.1% of each revenue dollar reached the bottom line.

Across the filed record, revenue grew from $874774 (FY2010) to $875.3M (FY2025) — about 58.5% a year compounded over 15 years.

It earned 109.0% on invested capital in FY2025, with a median of −40.6% across 10 filed years. The Returns on Capital filter above scores it 83/100.

The balance sheet carried $42.5M of total debt in FY2025 against $88.8M of owner earnings — roughly 0.5 years of owner earnings to retire it all. Balance-Sheet Safety scores it 81/100.

The share count fell 70.4% between FY2010 and FY2025 — management has been retiring shares, which concentrates each remaining owner's claim. Capital Discipline scores it 24/100.

Put together: Returns on Capital is the strongest of the four filters (83/100) and Capital Discipline the weakest (24/100), which is how NUTX lands at 58/100 — a Shallow moat.

This breakdown is generated from the filed numbers and sub-scores above — no outside narrative, no estimates. Where a filing doesn’t disclose an input, the sentence that would need it is omitted instead of guessed.

RevenueSales, as filed$875.3M FY2025

Gross marginRevenue kept after cost of goods50.8% FY2025

Return on invested capitalOperating profit on the capital employed109.0% FY2025

Owner earningsCash an owner could take out$88.8M FY2025

Gaps in a line mean that item isn’t in NUTX’s filings for that year — the series is never interpolated or estimated. The Table view lists every filed value, including operating and net margins, total debt, and share count.

Moat Score history

Moat Score over timeLast scored reading of each day, on the 0–100 scale57.8 / 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 — NUTX 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.

Technology context

#146 of 532 scored Technology companies, ranked by Moat Score.

Nearest peers by Moat Score

#144MMS Maximus, Inc.58.0 out of 100, Shallow moatShallow moat
#145SHOP Shopify Inc.57.9 out of 100, Shallow moatShallow moat
#147CXM Sprinklr, Inc.57.7 out of 100, Shallow moatShallow moat
#148PUBM PUBMATIC, INC.57.6 out of 100, Shallow moatShallow moat

Compare NUTX with its nearest peers →All Technology companies on the Index →

Common questions about NUTX

Does NUTEX HEALTH INC. have an economic moat?: Based on its FY2025 SEC filings, the Moat Index scores NUTEX HEALTH INC. (NUTX) 57.8 out of 100 — a Shallow moat. The four filters behind that score (each 0–100): pricing power 40, returns on capital 83, balance-sheet safety 81, capital discipline 24.
Is NUTX 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 $107.82 per share versus a recent price of $162.98 — 51% above value. This is an educational estimate computed from primary SEC filings, not investment advice.
How has NUTX's Moat Score changed over time?: The record logs 3 readings since Jul 17, 2026; the latest reads 57.8 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 NUTX. See the disclaimer.