Does PUMA BIOTECHNOLOGY, INC. have an economic moat?

Based on its FY2025 SEC filings, the Moat Index scores PUMA BIOTECHNOLOGY, INC. (PBYI) 50.5 out of 100 — a Shallow moat. The four filters behind that score (each 0–100): pricing power 95, returns on capital 14, balance-sheet safety 64, capital discipline 24.

Is PBYI 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 $7.27 per share versus a recent price of $8.53 — 17% above value. This is an educational estimate computed from primary SEC filings, not investment advice.

How has PBYI's Moat Score changed over time?

The record logs 2 readings since Jul 17, 2026; the latest reads 50.5 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

PUMA BIOTECHNOLOGY, INC.

PBYI · Healthcare · $430.0M mkt cap · FY2025 filings · Shallow moat ·

Doesn't clear the bar

Shallow moat

The four filters

Pricing power95

Median gross margin 75.8% over 9y, very stable.

Returns on capital14

Median ROIC -27.8%, above the 9% hurdle in 40% of years.

Balance-sheet safety64

Net cash position — no leverage risk.

Capital discipline24

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

Margin of safety

Above valueOn sale

17% above value

Owner earnings (normalized): $33.0M
Est. intrinsic value / share: $7.27
Recent price: $8.53
Discount to value: 17% above 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 PBYI 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 scale50.5 / 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 — PBYI 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

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

Nearest peers by Moat Score

#107RGEN REPLIGEN CORP52.1 out of 100, Shallow moatShallow moat
#108CDIX Cardiff Lexington Corporation51.1 out of 100, Shallow moatShallow moat
#110CPIX CUMBERLAND PHARMACEUTICALS INC50.1 out of 100, Shallow moatShallow moat
#111PODD INSULET CORPORATION50.1 out of 100, Shallow moatShallow moat

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

Common questions about PBYI

Does PUMA BIOTECHNOLOGY, INC. have an economic moat?: Based on its FY2025 SEC filings, the Moat Index scores PUMA BIOTECHNOLOGY, INC. (PBYI) 50.5 out of 100 — a Shallow moat. The four filters behind that score (each 0–100): pricing power 95, returns on capital 14, balance-sheet safety 64, capital discipline 24.
Is PBYI 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 $7.27 per share versus a recent price of $8.53 — 17% above value. This is an educational estimate computed from primary SEC filings, not investment advice.
How has PBYI's Moat Score changed over time?: The record logs 2 readings since Jul 17, 2026; the latest reads 50.5 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 PBYI. See the disclaimer.