Renalytix plc

RENXF · Healthcare · FY2024 filings · · No moat ·

Doesn't clear the bar

No moat
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The five investor questions

30

2022–2024 (latest 3 aligned FYs; v3 window cap 5): revenue $3M to $2.3M, decreasing; diluted EPS -0.67 to -0.31, increasing.

22

Median gross margin 29.4% over 3y, variable.

Not enough years of ROIC data to score returns on capital.

55

Net cash position — no leverage risk.

24

Owner earnings changed trend unclear over up to the ten most recent annual observations.

The returnsOnCapital component abstained: Not enough years of ROIC data to score returns on capital. The other four 20% weights were renormalized over the scored 80%.

Price vs. value if growth stopped today

A cautious baseline, not a price target: what the shares may support if normalized owner earnings simply hold steady.

Above value if growth stopped todayBelow value if growth stopped today
No price data
Not reported
Unavailable — insufficient owner-earnings data
Unavailable — insufficient growth-model data
Unavailable — no recent price
No price data

This zero-growth estimate assumes trailing owner earnings persist — unreliable for declining businesses. Flag status unavailable — four adjacent recent FY revenue observations are required.

Among the current top-score group, the median current price is 238% above the zero-growth estimate across 49 of the current top 50 companies by Moat Score with both values.

Score records captured Sep 4, 2026.

Exactly which 50 companies?

FTNT, META, MEDP, IBEX, MSFT, GOOG, LULU, ANF, IDXX, TXRH, FHI, QLYS, FFIV, ADBE, LLY, MANH, VEEV, RMD, GRMN, PCTY, EAT, UI, SSD, MNST, DOCS, LRCX, MCO, CPRT, NTAP, NVDA, CORT, SFM, MPTI, ULTA, SN, ROL, CTAS, PAYC, IRMD, INTU, DECK, MORN, JKHY, TPR, LGCY, DAL, GWW, ISRG, MPWR, LOPE

Missing a usable price or zero-growth estimate: ANF.

Model details under moat-index@3.0.0: zero-growth multiple 11.1×, capped-growth comparison at no more than 18×; 9% discount rate; high-end growth 0% (capped at 4%) using min(5y revenue CAGR, 5y diluted-EPS CAGR), clamped to 0%–4%; maintenance capex uses min(capex, D&A); abstain when D&A is unavailable. This is a disclosed model range, not intrinsic value as fact.

4 years of fundamentals

The business, in plain English

Renalytix plc booked $2.3M of revenue in FY2024 in the Healthcare sector and kept 6.8% of it as gross profit — a thin-margin business by that measure. After every other cost, −1461.6% of each revenue dollar reached the bottom line.

RENXF's latest filed year, FY2024, doesn't disclose total debt in a form the methodology can use, so current leverage is treated as unmeasured — never assumed to be zero.

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.

FY2021–FY2024 · 4 fiscal years, normalized from RENXF’s SEC filings

Sales, as filed$2.3M FY2024
$0$2M2021202220232024
Revenue kept after cost of goods6.8% FY2024
0%500%2021202220232024
Standard ROIC or separately labeled Operating ROIC

Exact FY and FY-1 financing invested-capital inputs are required.

Exact FY and FY-1 financing invested-capital inputs are required.

Cash an owner could take out−$33.5M FY2024
−$40M−$20M$02021202220232024

The explained ROIC gaps have filed inputs but no meaningful positive invested-capital denominator. Other gaps mean the item is not in the 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.

Flagship explainer

How Renalytix plc makes its money

Start with a dollar of revenue and follow what the filing says remains.

revenueBranching filed flows with values and percentages directly labeled. Missing filing concepts are omitted rather than estimated.Revenue$2.3M · 100%Cost of revenue$2.1M · 93%Gross profit$156000 · 7%Operating income−$29.6M · −1293%Income before tax−$33.5M · −1461%Income tax$4000 · 0%Net income−$33.5M · −1462%As of 2024-06-30 · 1 SEC filing sourceBuy Like Buffett · buylikebuffett.com

Honest partial: the filing did not provide a normalized tag for Research and development, Selling, general and administrative; those components are omitted, not plugged.

Table alternative
Filed lineValue% of revenueSource
$2.3M100%
Cost of revenue$2.1M93%
$1560007%
−$29.6M−1293%
Income before tax−$33.5M−1461%
Income tax$40000%
−$33.5M−1462%
Source: · event Jun 30, 2024 · retrieved Sep 4, 2026 · annual-row source set
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Flagship explainer

What Renalytix plc owns — and owes

Renalytix plc's filing tags don't support a full breakdown — here's what is filed:

Table alternative
Filed lineValue% of assetsSource
Total assets$8M100%
Cash and equivalents$4.7M59%
Stockholders’ equity−$7.9M−99%
Source: · event Jun 30, 2024 · retrieved Sep 4, 2026 · annual-row source set

Flagship explainer

What drives Renalytix plc’s return on equity?

ROE is five filed business factors multiplied together.

DuPont return on equity factor treeReturn on equity branches into tax burden, interest burden, operating margin, asset turnover, and the equity multiplier.Return on equity7544%Tax burden100%net income ÷ pretax incomeInterest burden113%pretax ÷ operating incomeOperating margin−1293%operating income ÷ revenueAsset turnover0.12×revenue ÷ average assetsEquity multiplier-43.52×average assets ÷ average equityAs of 2024-06-30 · 2 SEC filing sourcesBuy Like Buffett · buylikebuffett.com
DuPont source inputs
InputValueFiscal yearSource
−$33.5MFY2024
Income before tax−$33.5MFY2024
Operating income−$29.6MFY2024
$2.3MFY2024
Ending assets$8MFY2024
Beginning assets$30.6MFY2023
−$7.9MFY2024
$7MFY2023
Source: · event Jun 30, 2024 · retrieved Sep 4, 2026 · annual-row source set
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Flagship explainer

Where Renalytix plc's cash went

Renalytix plc’s filing does not supply enough provenance-matched cash-flow lines for a truthful flow chart — here’s what is filed:

Table alternative
Filed lineValue% of cash from operationsSource
Cash from operations−$30.1M−100%
Depreciation and amortization$3640001%
Source: · event Jun 30, 2024 · retrieved Sep 4, 2026 · annual-row source set

Curated 19-manager tier

Who reported holding Renalytix plc

Delayed public 13F reports for 2026-Q2—not live positions, trades, or recommendations.

0 holding0 exited0 not holding0/19 resolved19 not retrieved

Named manager positions and quarter-over-quarter changes
ManagerReported positionQuarter-over-quarterFiling accession
Abrams CapitalNot retrievedComparison not retrievedFiling not retrieved
Akre CapitalNot retrievedComparison not retrievedFiling not retrieved
Baupost GroupNot retrievedComparison not retrievedFiling not retrieved
Berkshire HathawayNot retrievedComparison not retrievedFiling not retrieved
Brave Warrior AdvisorsNot retrievedComparison not retrievedFiling not retrieved
Dodge & CoxNot retrievedComparison not retrievedFiling not retrieved
First EagleNot retrievedComparison not retrievedFiling not retrieved
FundsmithNot retrievedComparison not retrievedFiling not retrieved
Gardner Russo & QuinnNot retrievedComparison not retrievedFiling not retrieved
Gates Foundation TrustNot retrievedComparison not retrievedFiling not retrieved
Mairs & PowerNot retrievedComparison not retrievedFiling not retrieved
Markel / Markel-GaynerNot retrievedComparison not retrievedFiling not retrieved
Oakmark / Harris AssociatesNot retrievedComparison not retrievedFiling not retrieved
Pershing SquareNot retrievedComparison not retrievedFiling not retrieved
Polen CapitalNot retrievedComparison not retrievedFiling not retrieved
Sequoia / Ruane CunniffNot retrievedComparison not retrievedFiling not retrieved
Southeastern Asset ManagementNot retrievedComparison not retrievedFiling not retrieved
Tweedy, BrowneNot retrievedComparison not retrievedFiling not retrieved
Yacktman Asset ManagementNot retrievedComparison not retrievedFiling not retrieved

Position size uses shares and filed value from each manager’s 13F. Portfolio weight uses the eligible long-share filing denominator. Changes compare only with the immediately preceding calendar quarter.

Source: Filing source not retrieved · event Jun 30, 2026 · retrieved Sep 4, 2026

Flagship explainer

What Renalytix plc insiders reported

The complete Form 4 source snapshot retrieved on Sep 5, 2026 contains no transaction rows.

Verified empty: the retrieved source snapshot contains no transaction event.

Source snapshot retrieved 2026-09-05T07:00:13.498Z · SEC Form 4

Moat Score history

1 logged reading since Sep 4, 2026 · append-only, never rewritten

Moat Score over timeLast scored reading of each day, on the 0–100 scale32.9 / 100
0406080100WideNarrowShallowNo moatSep 4, 2026

Score history begins Sep 4, 2026 — the record builds forward from here.

Tier changesSame-methodology and same-normalizer crossings of the Wide / Narrow / Shallow bars

None yet — RENXF has read No moat for every logged capture since Sep 4, 2026.

Scores are logged append-only and never overwritten — this record cannot be reconstructed retroactively, which is exactly why it’s worth keeping.

Insider activity

Form 4 reports mix P/S market or private transactions with compensation-plan mechanics. Activity casually described as “insider selling” can include compensation mechanics; awards, tax withholding, and option exercises are shown by their exact filed class here, never collapsed into “Bought” or “Sold.”

These are disclosed filing facts and arithmetic aggregates, not a signal or verdict.

This machine-readable surface covers SEC ownership filings from 2003; it does not represent earlier paper-era records.

No reported Form 4 transactions were found in the complete checked issuer window for RENXF, . The totals and cluster result below are arithmetic over that certified window.

$0
P purchases minus S sales only, Sep 6, 2025Sep 6, 2026.
0 P / 0 S
Only P and S are included; awards, gifts, exercises, withholding, and other mechanics are excluded.
No
Requires at least 3 distinct insiders with P purchases.

Transaction-code histogram

Supporting event counts for the same certified window, Sep 6, 2025Sep 6, 2026.

P
0
S
0
A
0
F
0
M
0
G
0
C
0
J
0
W
0

Retrieved .

Healthcare context

#494 of 708 scored Healthcare companies, ranked by Moat Score.

Nearest peers by Moat Score

  1. #492TFX TELEFLEX INCORPORATED32.9 out of 100, No moatNo moat
  2. #493SIGY SIGYN THERAPEUTICS, INC.32.9 out of 100, No moatNo moat
  3. #495HYPR Hyperfine, Inc.32.9 out of 100, No moatNo moat
  4. #496EDSA EDESA BIOTECH, INC.32.8 out of 100, No moatNo moat

Compare RENXF with its nearest peersAll Healthcare companies on the Index →

Common questions about RENXF

Does Renalytix plc have an economic moat?
Based on its FY2024 SEC filings, the Moat Index scores Renalytix plc (RENXF) 32.9 out of 100 — below the Shallow-moat bar, so no moat. The five questions behind that score begin at 20% each; if exactly one genuinely lacks data, the other four weights are renormalized and disclosed. revenue and EPS trend 30, pricing power 22, returns on capital not measurable from the filings, balance-sheet safety 55, capital allocation 24.
How has RENXF's Moat Score changed over time?
The record logs 1 reading since Sep 4, 2026; the latest reads 32.9 out of 100 (no moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.