Does Uranium Royalty Corp. have an economic moat?

Based on its FY2026 SEC filings, the Moat Index scores Uranium Royalty Corp. (UROY) 63.1 out of 100 — a Narrow 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 80, pricing power not measurable from the filings, returns on capital 12, balance-sheet safety 100, capital allocation 61.

Is UROY trading below the conservative owner-earnings estimate?

The value if growth stopped today — a zero-growth baseline — is $1.04 per share. It capitalizes normalized owner earnings at a 9% rate and assumes 0% growth. Versus a recent price of $3.50, that is 237% above value if growth stopped today. The model also publishes a capped-growth comparison, but the zero-growth estimate is the cautious baseline. It assumes trailing owner earnings persist and is unreliable for declining businesses. This is an educational estimate from primary SEC filings, not intrinsic value as a fact or investment advice.

How has UROY's Moat Score changed over time?

The record logs 31 readings since Jul 17, 2026; the latest reads 63.1 out of 100 (narrow moat). Tier changes so far: Not rated → Narrow moat on Sep 4, 2026. (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.

Uranium Royalty Corp.

UROY · Other · $513M mkt cap · FY2026 filings · as of Oct 20, 2026 · Narrow moat ·

On the watchlist

Narrow moat

The five investor questions

2024–2026 (latest 3 aligned FYs; v3 window cap 5): revenue $31.2M to $187M, increasing; diluted EPS 0.12 to 0.29, increasing.

—

Not enough years of gross-margin data to score pricing power.

Median ROIC 2.2%, above the 12% hurdle in 33% of years.

100

Net cash position — no leverage risk.

Owner earnings changed +71.4%/yr over up to the ten most recent annual observations.

The pricingPower component abstained: Not enough years of gross-margin data to score pricing power. 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

237% above value if growth stopped today

: $13.7M
: $1.04
: $1.04
: $3.50
: 237% above value if growth stopped today

What today’s price assumes: owner earnings growing ~27%/yr over 5 years. The zero-growth estimate assumes owner earnings stay flat (0% growth).

How to read this

We solve for the constant annual change in owner earnings that would make the five-year zero-growth estimate equal today’s price. This keeps the existing model inputs and calculation unchanged; it is an expectations lens, not a forecast.

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 254% above the zero-growth estimate across 49 of the current top 50 companies by Moat Score with both values.

Score records captured Oct 20, 2026.

Exactly which 50 companies?

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

It earned 50.3% on invested capital in the latest filed year, FY2026. Across the full 3-year measurable filed record, median ROIC was 2.2%. Over the v3 recent window (3 measurable filed years), median ROIC was 2.2%. The Returns on Capital filter above scores it 12/100.

UROY's latest filed year, FY2026, 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.

Sales, as filed$187M FY2026

Revenue kept after cost of goods

Not disclosed in UROY’s filings for these years — we don’t estimate it.

Standard ROIC or separately labeled Operating ROIC

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

Cash an owner could take out$40.2M FY2026

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 Uranium Royalty Corp. makes its money

Uranium Royalty Corp.'s filing does not supply enough comparable lines for a truthful flow chart — here's what is filed:

Table alternative
Filed line	Value	% of revenue	Source
	$187M	100%	10-K · FY 2026Filing detailsAccession 0001193125-26-321135 · filed Jul 28, 2026
	$48.3M	26%	10-K · FY 2026Filing detailsAccession 0001193125-26-321135 · filed Jul 28, 2026
Income before tax	$54.6M	29%	10-K · FY 2026Filing detailsAccession 0001193125-26-321135 · filed Jul 28, 2026
Income tax	$14.4M	8%	10-K · FY 2026Filing detailsAccession 0001193125-26-321135 · filed Jul 28, 2026
	$40.2M	22%	10-K · FY 2026Filing detailsAccession 0001193125-26-321135 · filed Jul 28, 2026

Source:

10-K · FY 2026Filing detailsAccession 0001193125-26-321135 · filed Jul 28, 2026

· event Apr 30, 2026 · retrieved Oct 20, 2026 · annual-row source set

Flagship explainer

What Uranium Royalty Corp. owns — and owes

Uranium Royalty Corp.'s filing tags don't support a full breakdown — here's what is filed:

Table alternative
Filed line	Value	% of assets	Source
Total assets	$373M	100%	10-K · FY 2026Filing detailsAccession 0001193125-26-321135 · filed Jul 28, 2026
Cash and equivalents	$242M	65%	10-K · FY 2026Filing detailsAccession 0001193125-26-321135 · filed Jul 28, 2026
Stockholders’ equity	$313M	84%	10-K · FY 2026Filing detailsAccession 0001193125-26-321135 · filed Jul 28, 2026

Source:

10-K · FY 2026Filing detailsAccession 0001193125-26-321135 · filed Jul 28, 2026

· event Apr 30, 2026 · retrieved Oct 20, 2026 · annual-row source set

Flagship explainer

What drives Uranium Royalty Corp.’s return on equity?

ROE is five filed business factors multiplied together.

DuPont source inputs
Input	Value	Fiscal year	Source
	$40.2M	FY2026	10-K · FY 2026Filing detailsAccession 0001193125-26-321135 · filed Jul 28, 2026
Income before tax	$54.6M	FY2026	10-K · FY 2026Filing detailsAccession 0001193125-26-321135 · filed Jul 28, 2026
Operating income	$48.3M	FY2026	10-K · FY 2026Filing detailsAccession 0001193125-26-321135 · filed Jul 28, 2026
	$187M	FY2026	10-K · FY 2026Filing detailsAccession 0001193125-26-321135 · filed Jul 28, 2026
Ending assets	$373M	FY2026	10-K · FY 2026Filing detailsAccession 0001193125-26-321135 · filed Jul 28, 2026
Beginning assets	$216M	FY2025	10-K · FY 2025Filing detailsAccession 0001193125-26-321135 · filed Jul 28, 2026
	$313M	FY2026	10-K · FY 2026Filing detailsAccession 0001193125-26-321135 · filed Jul 28, 2026
	$215M	FY2025	10-K · FY 2025Filing detailsAccession 0001193125-26-321135 · filed Jul 28, 2026

Source:

10-K · filed Jul 28, 2026Filing detailsAccession 0001193125-26-321135 · filed Jul 28, 2026

· event Apr 30, 2026 · retrieved Oct 20, 2026 · annual-row source set

Embed this chart

Flagship explainer

Where Uranium Royalty Corp.'s cash went

Uranium Royalty Corp.’s filing does not supply enough provenance-matched cash-flow lines for a truthful flow chart — here’s what is filed:

Table alternative
Filed line	Value	% of cash from operations	Source
Cash from operations	$178M	100%	10-K · FY 2026Filing detailsAccession 0001193125-26-321135 · filed Jul 28, 2026
Depreciation and amortization	$111000	0%	10-K · FY 2026Filing detailsAccession 0001193125-26-321135 · filed Jul 28, 2026

Source:

10-K · FY 2026Filing detailsAccession 0001193125-26-321135 · filed Jul 28, 2026

· event Apr 30, 2026 · retrieved Oct 20, 2026 · annual-row source set

Curated 19-manager tier

Who reported holding Uranium Royalty Corp.

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
Manager	Reported position	Quarter-over-quarter	Filing accession
Abrams Capital	Not retrieved	Comparison not retrieved	Filing not retrieved
Akre Capital	Not retrieved	Comparison not retrieved	Filing not retrieved
Baupost Group	Not retrieved	Comparison not retrieved	Filing not retrieved
Berkshire Hathaway	Not retrieved	Comparison not retrieved	Filing not retrieved
Brave Warrior Advisors	Not retrieved	Comparison not retrieved	Filing not retrieved
Dodge & Cox	Not retrieved	Comparison not retrieved	Filing not retrieved
First Eagle	Not retrieved	Comparison not retrieved	Filing not retrieved
Fundsmith	Not retrieved	Comparison not retrieved	Filing not retrieved
Gardner Russo & Quinn	Not retrieved	Comparison not retrieved	Filing not retrieved
Gates Foundation Trust	Not retrieved	Comparison not retrieved	Filing not retrieved
Mairs & Power	Not retrieved	Comparison not retrieved	Filing not retrieved
Markel / Markel-Gayner	Not retrieved	Comparison not retrieved	Filing not retrieved
Oakmark / Harris Associates	Not retrieved	Comparison not retrieved	Filing not retrieved
Pershing Square	Not retrieved	Comparison not retrieved	Filing not retrieved
Polen Capital	Not retrieved	Comparison not retrieved	Filing not retrieved
Sequoia / Ruane Cunniff	Not retrieved	Comparison not retrieved	Filing not retrieved
Southeastern Asset Management	Not retrieved	Comparison not retrieved	Filing not retrieved
Tweedy, Browne	Not retrieved	Comparison not retrieved	Filing not retrieved
Yacktman Asset Management	Not retrieved	Comparison not retrieved	Filing 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 Oct 20, 2026

Flagship explainer

What Uranium Royalty Corp. insiders reported

We could not retrieve insider activity for this rendering; no zero-activity claim is shown.

Unavailable: Form 4 activity could not be retrieved for this rendering.

Moat Score history

Moat Score over timeLast scored reading of each day, on the 0–100 scale63.1 / 100

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

Not ratedchanged toNarrow moatSep 4, 2026
Normalizer upgraded unstamped (version unknown)tomoat-xbrl-normalizer@1.1.0 — readings across versions aren’t comparedJul 26, 2026
Methodology upgraded moat-index@2.0.0tomoat-index@3.0.0 — readings across versions aren’t comparedJul 23, 2026
Methodology upgraded moat-index@1.2.0tomoat-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.

The insider-filing service is temporarily unavailable, so no partial or guessed answer is shown for UROY.

Track record

How Uranium Royalty Corp.’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 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 UROY 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 indexed price path isn't available for this company yet; 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, UROY 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.

Other context

#21 of 104 scored Other companies, ranked by Moat Score.

Nearest peers by Moat Score

#19VCTR Victory Capital Holdings, Inc.64.6 out of 100, Narrow moatNarrow moat
#20AAMI Acadian Asset Management Inc.63.7 out of 100, Narrow moatNarrow moat
#22OPY OPPENHEIMER HOLDINGS INC.62.8 out of 100, Narrow moatNarrow moat
#23SNFCA Security National Financial Corporation60.0 out of 100, Narrow moatNarrow moat

Compare UROY with its nearest peers →All Other companies on the Index →

Common questions about UROY

Does Uranium Royalty Corp. have an economic moat?: Based on its FY2026 SEC filings, the Moat Index scores Uranium Royalty Corp. (UROY) 63.1 out of 100 — a Narrow 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 80, pricing power not measurable from the filings, returns on capital 12, balance-sheet safety 100, capital allocation 61.
Is UROY trading below the conservative owner-earnings estimate?: The value if growth stopped today — a zero-growth baseline — is $1.04 per share. It capitalizes normalized owner earnings at a 9% rate and assumes 0% growth. Versus a recent price of $3.50, that is 237% above value if growth stopped today. The model also publishes a capped-growth comparison, but the zero-growth estimate is the cautious baseline. It assumes trailing owner earnings persist and is unreliable for declining businesses. This is an educational estimate from primary SEC filings, not intrinsic value as a fact or investment advice.
How has UROY's Moat Score changed over time?: The record logs 31 readings since Jul 17, 2026; the latest reads 63.1 out of 100 (narrow moat). Tier changes so far: Not rated → Narrow moat on Sep 4, 2026. (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 UROY. See the disclaimer.