Does ULTRALIFE CORPORATION have an economic moat?

Based on its FY2025 SEC filings, the Moat Index scores ULTRALIFE CORPORATION (ULBI) 23.5 out of 100 — below the Shallow-moat bar, so no moat. The four filters behind that score (each 0–100): pricing power 39, returns on capital 4, balance-sheet safety 28, capital discipline 26.

Is ULBI stock trading below its intrinsic value?

Against a deliberately conservative owner-earnings model (9% discount rate, 0% assumed growth, capped at 4%), estimated intrinsic value is $1.78 per share versus a recent price of $5.51 — 210% above value. This is an educational estimate computed from primary SEC filings, not investment advice.

How has ULBI's Moat Score changed over time?

The record logs 2 readings since Jul 17, 2026; the latest reads 23.5 out of 100 (no moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

The Moat Index

ULTRALIFE CORPORATION

ULBI · Technology · $91.8M mkt cap · FY2025 filings · No moat ·

Doesn't clear the bar

No moat

The four filters

Pricing power39

Median gross margin 26.4% over 10y, stable.

Returns on capital4

Median ROIC 4.5%, above the 9% hurdle in 10% of years.

Balance-sheet safety28

Net debt/EBITDA n/ax, interest coverage -1x.

Capital discipline26

Owner earnings trend unclear, share count growing (dilution).

Margin of safety

Above valueOn sale

210% above value

Owner earnings (normalized): $2.7M
Est. intrinsic value / share: $1.78
Recent price: $5.51
Discount to value: 210% above value

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

Fundamentals

There's no normalized fundamentals series for ULBI yet — it appears once ingest has processed its filings.

Moat Score history

Moat Score over timeLast scored reading of each day, on the 0–100 scale23.5 / 100

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 — ULBI 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

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

Nearest peers by Moat Score

#462KTCC KEY TRONIC CORPORATION23.9 out of 100, No moatNo moat
#463MRCY MERCURY SYSTEMS, INC.23.8 out of 100, No moatNo moat
#465BBAI BigBear.ai Holdings, Inc.23.4 out of 100, No moatNo moat
#466CIRC ATLANTIC INTERNATIONAL CORP23.3 out of 100, No moatNo moat

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

Common questions about ULBI

Does ULTRALIFE CORPORATION have an economic moat?: Based on its FY2025 SEC filings, the Moat Index scores ULTRALIFE CORPORATION (ULBI) 23.5 out of 100 — below the Shallow-moat bar, so no moat. The four filters behind that score (each 0–100): pricing power 39, returns on capital 4, balance-sheet safety 28, capital discipline 26.
Is ULBI stock trading below its intrinsic value?: Against a deliberately conservative owner-earnings model (9% discount rate, 0% assumed growth, capped at 4%), estimated intrinsic value is $1.78 per share versus a recent price of $5.51 — 210% above value. This is an educational estimate computed from primary SEC filings, not investment advice.
How has ULBI's Moat Score changed over time?: The record logs 2 readings since Jul 17, 2026; the latest reads 23.5 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 ULBI. See the disclaimer.