Buy Like Buffett
Watchlist

ServiceTitan, Inc.

TTAN · Technology · $6.5B mkt cap · FY2026 filings · · not refreshed in 37 days · Shallow moat ·

Doesn't clear the bar

Shallow moat
Share / Embed this score
Embed this score

The five investor questions

63

2023–2026 (latest 4 aligned FYs; v3 window cap 5): revenue $468M to $961M, increasing; diluted EPS -9.31 to -1.73, increasing.

93

Median gross margin 63.1% over 4y, stable.

0

Median ROIC -14.2%, above the 12% hurdle in 0% of years.

55

Net cash position — no leverage risk.

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
$70.48
No price data

This zero-growth estimate assumes trailing owner earnings persist — unreliable for declining businesses. The recent FY revenue series does not trigger the three-consecutive-declines flag.

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.

5 years of fundamentals

The business, in plain English

ServiceTitan, Inc. booked $961M of revenue in FY2026 in the Technology sector and kept 70.1% of it as gross profit — a high-margin business by that measure. After every other cost, −16.6% of each revenue dollar reached the bottom line.

The balance sheet carried $0 of total debt in FY2026. Balance-Sheet Safety scores it 55/100.

Put together: Pricing Power is the strongest of the five filters (93/100) and Returns on Capital the weakest (0/100), which is how TTAN lands at 51/100 — 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.

FY2022–FY2026 · 5 fiscal years, normalized from TTAN’s SEC filings

Sales, as filed$961M FY2026
$0$500M$1B202220242026
Revenue kept after cost of goods70.1% FY2026
0%50%202220242026
Standard ROIC or separately labeled Operating ROICROIC −12.2% FY2026

Not meaningful FY2024: invested capital is negative (cash exceeds debt + equity)

−10%0%202220242026
Cash an owner could take out−$81.4M FY2026
−$200M−$100M$0202220242026

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 ServiceTitan, Inc. 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$961M · 100%Cost of revenue$287M · 30%Gross profit$674M · 70%Operating income−$169M · −18%Income before tax−$157M · −16%Income tax$2.7M · 0%Net income−$160M · −17%As of 2026-01-31 · 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
$961M100%
Cost of revenue$287M30%
$674M70%
−$169M−18%
Income before tax−$157M−16%
Income tax$2.7M0%
−$160M−17%
Source: · event Jan 31, 2026 · retrieved Jul 26, 2026 · annual-row source set
Embed this chart

Flagship explainer

What ServiceTitan, Inc. owns — and owes

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

Table alternative
Filed lineValue% of assetsSource
Total assets$1.7B100%
Cash and equivalents$429M25%
$00%
Stockholders’ equity$1.5B87%
Source: · event Jan 31, 2026 · retrieved Jul 26, 2026 · annual-row source set

Flagship explainer

What drives ServiceTitan, 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 equity−11%Tax burden102%net income ÷ pretax incomeInterest burden93%pretax ÷ operating incomeOperating margin−18%operating income ÷ revenueAsset turnover0.55×revenue ÷ average assetsEquity multiplier1.18×average assets ÷ average equityAs of 2026-01-31 · 2 SEC filing sourcesBuy Like Buffett · buylikebuffett.com
DuPont source inputs
InputValueFiscal yearSource
−$160MFY2026
Income before tax−$157MFY2026
Operating income−$169MFY2026
$961MFY2026
Ending assets$1.7BFY2026
Beginning assets$1.8BFY2025
$1.5BFY2026
$1.5BFY2025
Source:
  • SEC filingFiling detailsAccession 0000950170-25-048834
  • SEC filingFiling detailsAccession 0001638826-26-000028
· event Jan 31, 2026 · retrieved Jul 26, 2026 · annual-row source set
Embed this chart

Flagship explainer

Where ServiceTitan, Inc.'s cash went

ServiceTitan, 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$110M100%
Depreciation and amortization$83.2M76%
Source: · event Jan 31, 2026 · retrieved Jul 26, 2026 · annual-row source set

Curated 19-manager tier

Who reported holding ServiceTitan, Inc.

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

0 holding0 exited1 not holding1/19 resolved18 not retrieved

Named manager positions and quarter-over-quarter changes
ManagerReported positionQuarter-over-quarterFiling accession
Markel / Markel-GaynerNo position reportedNo position reported
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
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: · event Jun 30, 2026 · retrieved Jul 26, 2026

Flagship explainer

What ServiceTitan, Inc. insiders reported

Records still being gathered — partial as of retrieval Sep 2, 2026.

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

Moat Score history

12 logged readings since Jul 18, 2026 · append-only, never rewritten

Moat Score over timeLast scored reading of each day, on the 0–100 scale51.2 / 100
0406080100WideNarrowShallowNo moatJul 18, 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 Sep 2, 2026.

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

InsiderShares owned afterDateFiling detail
Sherry DavidChief Financial OfficerOpen-market or private sale (S)Table I · Disposed · Class A Common Stock9,000$90.83$817,470See lot detailAug 14, 2026
3 filed lots
  • Table I · Class A Common Stock: 6,305 shares at $90.83 · code S · owned after 389,451.75 ·
  • Table I · Class A Common Stock: 2,649 shares at $90.83 · code S · owned after 386,802.75 ·
  • Table I · Class A Common Stock: 46 shares at $90.83 · code S · owned after 386,756.75 ·
Kuzoyan VaheDirector, PresidentOpen-market or private sale (S)Table I · Disposed · Class A Common Stock16,388$88.95$1,457,713See lot detailAug 12, 2026
7 filed lots
  • Table I · Class A Common Stock: 1,033 shares at $88.95 · code S · owned after 13,371 ·
  • Table I · Class A Common Stock: 6,072 shares at $88.95 · code S · owned after 7,299 ·
  • Table I · Class A Common Stock: 2,887 shares at $88.95 · code S · owned after 4,412 ·
  • Table I · Class A Common Stock: 2,137 shares at $88.95 · code S · owned after 2,275 ·
  • Table I · Class A Common Stock: 2,275 shares at $88.95 · code S · owned after 0 ·
  • Table I · Class A Common Stock: 804 shares at $88.95 · code S · owned after 15,584 ·
  • Table I · Class A Common Stock: 1,180 shares at $88.95 · code S · owned after 14,404 ·
Kuzoyan VaheDirector, PresidentConversion of derivative security (C)Table II · Disposed · Class B Common Stock · 1 paired event16,388—Conversion of derivative security (C)—5,372,245Aug 12, 2026
1 filed lot
  • Table II · Class B Common Stock: 16,388 shares at — (Conversion of derivative security (C)) · code C · owned after 5,372,245 · Paired event: 16,388 Class B Common Stock → 16,388 Class A Common Stock ·
Kuzoyan VaheDirector, PresidentConversion of derivative security (C)Table I · Acquired · Class A Common Stock · 1 paired event16,388—Conversion of derivative security (C)—16,388Aug 12, 2026
1 filed lot
  • Table I · Class A Common Stock: 16,388 shares at — (Conversion of derivative security (C)) · code C · owned after 16,388 · Paired event: 16,388 Class B Common Stock → 16,388 Class A Common Stock ·
Kuzoyan VaheDirector, PresidentConversion of derivative security (C)Table I · Acquired · Class A Common Stock · 1 paired event114,732—Conversion of derivative security (C)—114,732Aug 11, 2026
1 filed lot
  • Table I · Class A Common Stock: 114,732 shares at — (Conversion of derivative security (C)) · code C · owned after 114,732 · Paired event: 114,732 Class B Common Stock → 114,732 Class A Common Stock ·
Kuzoyan VaheDirector, PresidentOpen-market or private sale (S)Table I · Disposed · Class A Common Stock114,732$88.84$10,192,791See lot detailAug 11, 2026
6 filed lots
  • Table I · Class A Common Stock: 3,716 shares at $88.84 · code S · owned after 111,016 ·
  • Table I · Class A Common Stock: 16,160 shares at $88.84 · code S · owned after 94,856 ·
  • Table I · Class A Common Stock: 7,146 shares at $88.84 · code S · owned after 87,710 ·
  • Table I · Class A Common Stock: 35,402 shares at $88.84 · code S · owned after 52,308 ·
  • Table I · Class A Common Stock: 49,395 shares at $88.84 · code S · owned after 2,913 ·
  • Table I · Class A Common Stock: 2,913 shares at $88.84 · code S · owned after 0 ·
Kuzoyan VaheDirector, PresidentConversion of derivative security (C)Table II · Disposed · Class B Common Stock · 1 paired event114,732—Conversion of derivative security (C)—5,388,633Aug 11, 2026
1 filed lot
  • Table II · Class B Common Stock: 114,732 shares at — (Conversion of derivative security (C)) · code C · owned after 5,388,633 · Paired event: 114,732 Class B Common Stock → 114,732 Class A Common Stock ·
Mahdessian AraDirector, Chief Executive OfficerOpen-market or private sale (S)Table I · Disposed · Class A Common Stock38,287$84.89$3,250,183See lot detailAug 4, 2026
5 filed lots
  • Table I · Class A Common Stock: 11,902 shares at $84.89 · code S · owned after 5,528 ·
  • Table I · Class A Common Stock: 5,528 shares at $84.89 · code S · owned after 0 ·
  • Table I · Class A Common Stock: 245 shares at $84.89 · code S · owned after 38,042 ·
  • Table I · Class A Common Stock: 3,445 shares at $84.89 · code S · owned after 34,597 ·
  • Table I · Class A Common Stock: 17,167 shares at $84.89 · code S · owned after 17,430 ·
Mahdessian AraDirector, Chief Executive OfficerConversion of derivative security (C)Table II · Disposed · Class B Common Stock · 1 paired event38,287—Conversion of derivative security (C)—4,204,021Aug 4, 2026
1 filed lot
  • Table II · Class B Common Stock: 38,287 shares at — (Conversion of derivative security (C)) · code C · owned after 4,204,021 · Paired event: 38,287 Class B Common Stock → 38,287 Class A Common Stock ·
Mahdessian AraDirector, Chief Executive OfficerConversion of derivative security (C)Table I · Acquired · Class A Common Stock · 1 paired event38,287—Conversion of derivative security (C)—38,287Aug 4, 2026
1 filed lot
  • Table I · Class A Common Stock: 38,287 shares at — (Conversion of derivative security (C)) · code C · owned after 38,287 · Paired event: 38,287 Class B Common Stock → 38,287 Class A Common Stock ·
Mahdessian AraDirector, Chief Executive OfficerConversion of derivative security (C)Table I · Acquired · Class A Common Stock · 1 paired event49,766—Conversion of derivative security (C)—49,766Aug 3, 2026
1 filed lot
  • Table I · Class A Common Stock: 49,766 shares at — (Conversion of derivative security (C)) · code C · owned after 49,766 · Paired event: 49,766 Class B Common Stock → 49,766 Class A Common Stock ·
Mahdessian AraDirector, Chief Executive OfficerOpen-market or private sale (S)Table I · Disposed · Class A Common Stock49,766$84.75$4,217,669See lot detailAug 3, 2026
5 filed lots
  • Table I · Class A Common Stock: 15,459 shares at $84.75 · code S · owned after 34,307 ·
  • Table I · Class A Common Stock: 26,473 shares at $84.75 · code S · owned after 7,834 ·
  • Table I · Class A Common Stock: 2,950 shares at $84.75 · code S · owned after 4,884 ·
  • Table I · Class A Common Stock: 3,271 shares at $84.75 · code S · owned after 1,613 ·
  • Table I · Class A Common Stock: 1,613 shares at $84.75 · code S · owned after 0 ·
Mahdessian AraDirector, Chief Executive OfficerConversion of derivative security (C)Table II · Disposed · Class B Common Stock · 1 paired event49,766—Conversion of derivative security (C)—4,242,308Aug 3, 2026
1 filed lot
  • Table II · Class B Common Stock: 49,766 shares at — (Conversion of derivative security (C)) · code C · owned after 4,242,308 · Paired event: 49,766 Class B Common Stock → 49,766 Class A Common Stock ·

Source-event as of . Retrieved .

Track record

How ServiceTitan, 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 2025–2025, 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 TTAN on that December 31; the line below is its total-return price path (dividends reinvested) in the years since.

0406080100WideNarrowShallowNo moatPoint-in-time Moat Score100Indexed price · log scale (2025 = 100)20252026

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, TTAN 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

#274 of 744 scored Technology companies, ranked by Moat Score.

Nearest peers by Moat Score

  1. #272GPN GLOBAL PAYMENTS INC.51.3Shallow moat
  2. #273SAIC Science Applications International Corporation51.2Shallow moat
  3. #275QMCI QuoteMedia, Inc.51.1Shallow moat
  4. #276LAW CS Disco, Inc.51.1Shallow moat

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

Common questions about TTAN

Does ServiceTitan, Inc. have an economic moat?
Based on its FY2026 SEC filings, the Moat Index scores ServiceTitan, Inc. (TTAN) 51.2 out of 100 — a Shallow 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 63, pricing power 93, returns on capital 0, balance-sheet safety 55, capital allocation 44.
How has TTAN's Moat Score changed over time?
The record logs 12 readings since Jul 18, 2026; the latest reads 51.2 out of 100 (shallow 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 TTAN. See the disclaimer.