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SRX Global Inc.

SRXH · Consumer Staples · $44.8M mkt cap · FY2025 filings · No moat ·

Price verdict withheld — value if growth stopped today unreliable

No moat
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The five investor questions

10

2021–2025 (latest 5 aligned FYs; v3 window cap 5): revenue $46M to $6.5M, decreasing; diluted EPS 0.00 to -2.13, decreasing. Latest-filed diluted EPS remains usable for Business Trend, but an integer share-count change lacks enough evidence to confirm a comparable EPS basis; valuation growth therefore stays at 0%.

35

Median gross margin 37.4% over 10y, variable.

0

Median ROIC -135.0%, above the 12% hurdle in 0% of years.

28

Net debt/EBITDA n/ax, interest coverage -18x.

44

Owner earnings changed trend unclear over up to the ten most recent annual observations, share count n/a.

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
$1.80
No price data

This zero-growth estimate assumes trailing owner earnings persist — unreliable for declining businesses. SRXH revenue fell in each of the three most recent year-over-year FY comparisons, so this estimate is flagged as unreliable for this company.

Among the current top-score group, the median current price is 239% above the zero-growth estimate across 48 of the current top 50 companies by Moat Score with both values.

Score records captured Jul 26, 2026.

Exactly which 50 companies?

FTNT, META, MEDP, IBEX, MSFT, GOOGL, LULU, ANF, IDXX, TXRH, FHI, QLYS, FFIV, ADBE, LLY, MANH, VEEV, GRMN, SSD, MNST, DOCS, MCO, CPRT, NTAP, LRCX, NVDA, CORT, SFM, MPTI, ULTA, SN, RMD, ROL, PAYC, IRMD, INTU, DECK, MORN, LGCY, DAL, GWW, ISRG, MPWR, CTAS, LOPE, MRK, CMG, FAST, BKNG, ORLY

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

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.

26 years of fundamentals

The business, in plain English

SRX Global Inc. booked $6.5M of revenue in FY2025 in the Consumer Staples sector and kept 23.4% of it as gross profit — a moderate-margin business by that measure. After every other cost, −688.8% of each revenue dollar reached the bottom line.

ROIC is not available for the latest filed year, FY2025. Across the full 4-year measurable filed record, median ROIC was −135.0%. Over the v3 recent window (4 measurable filed years), median ROIC was −135.0%. The Returns on Capital filter above scores it 0/100.

SRXH's latest filed year, FY2025, doesn't disclose total debt in a form the methodology can use, so current leverage is treated as unmeasured — never assumed to be zero.

Put together: Capital Allocation is the strongest of the five filters (44/100) and Returns on Capital the weakest (0/100), which is how SRXH lands at 23/100 — 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.

FY2000–FY2025 · 26 fiscal years, normalized from SRXH’s SEC filings

Sales, as filed$6.5M FY2025
$0$20M$40M2000200920182025
Revenue kept after cost of goods23.4% FY2025
0%50%2000200920182025
Standard ROIC or separately labeled Operating ROICROIC −166.9% FY2022

Not meaningful FY2023: invested capital is negative (cash exceeds debt + equity)

−2000%0%2000200920182025
Cash an owner could take out−$45M FY2025
−$100M$02000200920182025

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 SRX Global Inc. makes its money

SRX Global Inc.'s filing does not supply enough comparable lines for a truthful flow chart — here's what is filed:

Table alternative
Filed lineValue% of revenueSource
$6.5M100%
Cost of revenue$5M77%
$1.5M23%
−$11.4M−175%
Income before tax−$8.6M−132%
−$45M−689%
Source: · event Sep 30, 2025 · retrieved Jul 26, 2026 · annual-row source set

Flagship explainer

What SRX Global Inc. owns — and owes

SRX Global Inc.'s filing tags don't support a full breakdown — here's what is filed:

Table alternative
Filed lineValue% of assetsSource
Total assets$8.4M100%
Cash and equivalents$1.3M16%
Stockholders’ equity$4070005%
Source: · event Sep 30, 2025 · retrieved Jul 26, 2026 · annual-row source set

Flagship explainer

What drives SRX Global Inc.’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 equity165%Tax burden521%net income ÷ pretax incomeInterest burden76%pretax ÷ operating incomeOperating margin−175%operating income ÷ revenueAsset turnover0.31×revenue ÷ average assetsEquity multiplier-0.77×average assets ÷ average equityAs of 2025-09-30 · 2 SEC filing sourcesBuy Like Buffett · buylikebuffett.com
DuPont source inputs
InputValueFiscal yearSource
−$45MFY2025
Income before tax−$8.6MFY2025
Operating income−$11.4MFY2025
$6.5MFY2025
Ending assets$8.4MFY2025
Beginning assets$33.8MFY2024
$407000FY2025
−$55.1MFY2024
Source:
  • SEC filingFiling detailsAccession 0001493152-25-026452
  • SEC filingFiling detailsAccession 0001641172-25-001558
· event Sep 30, 2025 · retrieved Jul 26, 2026 · annual-row source set
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Flagship explainer

Where SRX Global Inc.'s cash went

SRX Global Inc.’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−$8.1M−100%
Depreciation and amortization$310000%
Source: · event Sep 30, 2025 · retrieved Jul 26, 2026 · annual-row source set

Curated 19-manager tier

Who reported holding SRX Global Inc.

Delayed public 13F reports for 2026-Q1—not live positions, trades, or recommendations.

0 holding0 exited0 not holding0/19 resolved19 unavailable

Named manager positions and quarter-over-quarter changes
ManagerReported positionQuarter-over-quarterFiling accession
Abrams CapitalUnavailableComparison unavailableFiling unavailable
Akre CapitalUnavailableComparison unavailableFiling unavailable
Baupost GroupUnavailableComparison unavailableFiling unavailable
Berkshire HathawayUnavailableComparison unavailableFiling unavailable
Brave Warrior AdvisorsUnavailableComparison unavailableFiling unavailable
Dodge & CoxUnavailableComparison unavailableFiling unavailable
First EagleUnavailableComparison unavailableFiling unavailable
FundsmithUnavailableComparison unavailableFiling unavailable
Gardner Russo & QuinnUnavailableComparison unavailableFiling unavailable
Gates Foundation TrustUnavailableComparison unavailableFiling unavailable
Mairs & PowerUnavailableComparison unavailableFiling unavailable
Markel / Markel-GaynerUnavailableComparison unavailableFiling unavailable
Oakmark / Harris AssociatesUnavailableComparison unavailableFiling unavailable
Pershing SquareUnavailableComparison unavailableFiling unavailable
Polen CapitalUnavailableComparison unavailableFiling unavailable
Sequoia / Ruane CunniffUnavailableComparison unavailableFiling unavailable
Southeastern Asset ManagementUnavailableComparison unavailableFiling unavailable
Tweedy, BrowneUnavailableComparison unavailableFiling unavailable
Yacktman Asset ManagementUnavailableComparison unavailableFiling unavailable

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 unavailable · event Mar 31, 2026 · retrieved Jul 26, 2026

Flagship explainer

What SRX Global Inc. insiders reported

Records still being gathered — partial as of retrieval Aug 11, 2026.

Partial coverage: the incomplete Form 4 walk cannot establish no activity, an activity date, or zero counts.

Moat Score history

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

Moat Score over timeLast scored reading of each day, on the 0–100 scale23.3 / 100
0406080100WideNarrowShallowNo moatJul 17, 2026Jul 26, 2026

Breaks in the line mark methodology or normalizer upgrades — readings across versions aren’t compared, so a level shift there isn’t a change in the business.

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

  1. Normalizer upgraded unstamped (version unknown)moat-xbrl-normalizer@1.1.0 — readings across versions aren’t comparedJul 26, 2026
  2. Methodology upgraded moat-index@2.0.0moat-index@3.0.0 — readings across versions aren’t comparedJul 23, 2026
  3. Methodology upgraded moat-index@1.2.0moat-index@2.0.0 — readings across versions aren’t comparedJul 20, 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.

Records still being gathered — partial as of retrieval Aug 11, 2026.

Trailing-12-month totals and the 90-day cluster result are withheld because this issuer walk is incomplete.

No reported Form 4 rows were captured for SRXH; the incomplete walk cannot establish zero activity, zero counts, or a negative cluster result.

A filing source-event date will appear when a Form 4 row is captured.

Retrieved .

Track record

How SRX Global 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.

Point-in-time scores 2012–2025, one methodology version · reconstructed from filings on file each Dec 31 — never with hindsight

Point-in-time 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 SRXH on that December 31; the line below is its total-return price path (dividends reinvested) in the years since.

0406080100WideNarrowShallowNo moatPoint-in-time Moat Score96104Indexed price · log scale (2026 = 100)201220152018202120242026

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, SRXH 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.

Consumer Staples context

#72 of 85 scored Consumer Staples companies, ranked by Moat Score.

Nearest peers by Moat Score

  1. #70GWLL GOLDENWELL BIOTECH, INC.23.9No moat
  2. #71WEST WESTROCK COFFEE COMPANY23.7No moat
  3. #73REED REED’S, INC.22.3No moat
  4. #74TOFB Tofutti Brands Inc.22.2No moat

Compare SRXH with its nearest peers →All Consumer Staples companies on the Index →

Common questions about SRXH

Does SRX Global Inc. have an economic moat?
Based on its FY2025 SEC filings, the Moat Index scores SRX Global Inc. (SRXH) 23.3 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 10, pricing power 35, returns on capital 0, balance-sheet safety 28, capital allocation 44.
How has SRXH's Moat Score changed over time?
The record logs 15 readings since Jul 17, 2026; the latest reads 23.3 out of 100 (no moat). No tier changes on record yet. (Methodology or normalizer upgrades on Jul 20, 2026, Jul 23, 2026, Jul 26, 2026 re-based the score; readings across versions aren't compared.) The history is append-only — readings are only ever added, never rewritten.

Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell SRXH. See the disclaimer.