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The Moat Index

Porch Group, Inc.

PRCH · Technology · $1.7B mkt cap · FY2025 filings · No moat ·

Doesn't clear the bar

37/ 100
No moat

The four filters

Pricing power93

Median gross margin 69.9% over 7y, stable.

Returns on capital0

Median ROIC -26.4%, above the 9% hurdle in 0% of years.

Balance-sheet safety0

Net debt/EBITDA 5.7x, interest coverage 1x.

Capital discipline44

Owner earnings trend unclear, share count n/a.

Margin of safety

Above valueOn sale
No price data
Owner earnings (normalized)
—
Est. intrinsic value / share
—
Recent price
$13.68
Discount to value
No price data

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

8 years of fundamentals

The business, in plain English

Porch Group, Inc. booked $418.9M of revenue in FY2025 in the Technology sector and kept 81.2% of it as gross profit — a high-margin business by that measure. After every other cost, −0.8% of each revenue dollar reached the bottom line.

Across the filed record, revenue grew from $77.6M (FY2019) to $418.9M (FY2025) — about 32.4% a year compounded over 6 years.

It earned 7.3% on invested capital in FY2025, with a median of −26.4% across 5 filed years. The Returns on Capital filter above scores it 0/100.

The balance sheet carried $392.8M of total debt in FY2025 against $20.7M of owner earnings — roughly 19.0 years of owner earnings to retire it all. Balance-Sheet Safety scores it 0/100.

The share count rose 262.9% between FY2019 and FY2025 — existing owners have been diluted over the record. Capital Discipline scores it 44/100.

Put together: Pricing Power is the strongest of the four filters (93/100) and Returns on Capital the weakest (0/100), which is how PRCH lands at 37/100 — a None 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.

FY2018–FY2025 · 8 fiscal years, normalized from PRCH’s SEC filings

RevenueSales, as filed$418.9M FY2025
$0$200M$400M201820212025
Gross marginRevenue kept after cost of goods81.2% FY2025
0%50%201820212025
Return on invested capitalOperating profit on the capital employed7.3% FY2025
−100%−50%0%201820212025
Owner earningsCash an owner could take out$20.7M FY2025
−$100M$0201820212025

Gaps in a line mean that item isn’t in PRCH’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

3 logged readings since Jul 17, 2026 · append-only, never rewritten

Moat Score over timeLast scored reading of each day, on the 0–100 scale36.6 / 100
0406080100WideNarrowShallowNo moatJul 17, 2026

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 — PRCH 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.

Technology context

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

Nearest peers by Moat Score

  1. #353CREG SMART POWERR CORP.36.6No moat
  2. #354CLRO CLEARONE INC36.6No moat
  3. #356GEG Great Elm Group, Inc.36.6No moat
  4. #357TACT TRANSACT TECHNOLOGIES INC36.5No moat

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

Common questions about PRCH

Does Porch Group, Inc. have an economic moat?
Based on its FY2025 SEC filings, the Moat Index scores Porch Group, Inc. (PRCH) 36.6 out of 100 — below the Shallow-moat bar, so no moat. The four filters behind that score (each 0–100): pricing power 93, returns on capital 0, balance-sheet safety 0, capital discipline 44.
How has PRCH's Moat Score changed over time?
The record logs 3 readings since Jul 17, 2026; the latest reads 36.6 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 PRCH. See the disclaimer.

Porch Group, Inc. (PRCH) Moat Score — The Moat Index · Buy Like Buffett