Does SNAIL, INC. have an economic moat?

Based on its FY2025 SEC filings, the Moat Index scores SNAIL, INC. (SNAL) 40.1 out of 100 — a Shallow moat. The four filters behind that score (each 0–100): pricing power 27, returns on capital 59, balance-sheet safety 28, capital discipline 44.

How has SNAL's Moat Score changed over time?

The record logs 1 reading since Jul 18, 2026; the latest reads 40.1 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

SNAIL, INC.

SNAL · Technology · FY2025 filings · Shallow moat ·

Doesn't clear the bar

Shallow moat

The four filters

Pricing power27

Median gross margin 28.6% over 5y, variable.

Returns on capital59

Median ROIC 14.6%, above the 9% hurdle in 50% of years.

Balance-sheet safety28

Net debt/EBITDA n/ax, interest coverage -26x.

Capital discipline44

Owner earnings trend unclear, share count n/a.

Margin of safety

Above valueOn sale

No price data

Owner earnings (normalized): $1.5M
Est. intrinsic value / share: —
Recent price: $4.94
Discount to value: No price data

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

6 years of fundamentals

The business, in plain English

SNAIL, INC. booked $81.2M of revenue in FY2025 in the Technology sector and kept 27.6% of it as gross profit — a moderate-margin business by that measure. After every other cost, −33.5% of each revenue dollar reached the bottom line.

It earned 35.7% on invested capital in FY2024, with a median of 14.6% across 4 filed years. The Returns on Capital filter above scores it 59/100.

The balance sheet carried $14.4M of total debt in FY2025. Balance-Sheet Safety scores it 28/100.

Put together: Returns on Capital is the strongest of the four filters (59/100) and Pricing Power the weakest (27/100), which is how SNAL lands at 40/100 — 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$81.2M FY2025

Gross marginRevenue kept after cost of goods27.6% FY2025

Return on invested capitalOperating profit on the capital employed35.7% FY2024

Owner earningsCash an owner could take out−$27.0M FY2025

Gaps in a line mean that item isn’t in SNAL’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 scale40.1 / 100

Score history begins Jul 18, 2026 — the record builds from here and can’t be backfilled.

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

None yet — SNAL has read Shallow moat for every logged capture since Jul 18, 2026.

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

Track record

How SNAIL, INC.’s moat rated in each of the years we can reconstruct from its filings — scored only on what was knowable at the time — and what its price and returns did afterward. The score never saw a price; the two are joined only in hindsight, for education, not as a signal.

As-of Moat Score (dot colored by tier)Indexed price (total-return (dividends reinvested))Rated Wide-moat that year

How to read this: each dot is what the engine would have scored SNAL on that December 31; the line below is its total-return price path (dividends reinvested) in the years since.

Two tracks, one timeline: the score has its own 0–100 scale (top), the price its own 100-based scale (bottom) — never a shared axis. The price path is a total-return (dividends reinvested) index built from the same data the forward returns use; gaps in the score line are years with no reconstructed rating (see the table for why). The Table view carries every value.

What followed, in the years it rated Wide

In the reconstructed history shown, SNAL did not rate Wide-moat in any year, so there is no wide-moat track record to report. That absence is itself the honest answer — we don’t manufacture a comparison where the rating never earned one.

Technology context

#344 of 579 scored Technology companies, ranked by Moat Score.

Nearest peers by Moat Score

#342DTST DATA STORAGE CORPORATION40.2 out of 100, Shallow moatShallow moat
#343SSNC SS&C TECHNOLOGIES HOLDINGS, INC.40.1 out of 100, Shallow moatShallow moat
#345LINK INTERLINK ELECTRONICS, INC.40.0 out of 100, Shallow moatShallow moat
#346SITM SITIME Corp39.8 out of 100, No moatNo moat

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

Common questions about SNAL

Does SNAIL, INC. have an economic moat?: Based on its FY2025 SEC filings, the Moat Index scores SNAIL, INC. (SNAL) 40.1 out of 100 — a Shallow moat. The four filters behind that score (each 0–100): pricing power 27, returns on capital 59, balance-sheet safety 28, capital discipline 44.
How has SNAL's Moat Score changed over time?: The record logs 1 reading since Jul 18, 2026; the latest reads 40.1 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 SNAL. See the disclaimer.