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The Moat Index

Valion Bio, Inc.

VBIO · Healthcare · $1.3M mkt cap · FY2025 filings · No moat ·

Doesn't clear the bar

14/ 100
No moat

The four filters

Pricing power0

Median gross margin 8.3% over 4y, variable.

Returns on capital0

Median ROIC -2509.6%, above the 9% hurdle in 0% of years.

Balance-sheet safety28

Net debt/EBITDA n/ax, interest coverage -54x.

Capital discipline44

Owner earnings trend unclear, share count n/a.

Margin of safety

Above valueOn sale
No price data
Owner earnings (normalized)
—
Est. intrinsic value / share
—
Recent price
$0.51
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

Valion Bio, Inc. booked $780000 of revenue in FY2024 in the Healthcare sector and kept 0.3% of it as gross profit — a thin-margin business by that measure. After every other cost, −725.0% of each revenue dollar reached the bottom line.

It earned −663.4% on invested capital in FY2024, with a median of −2509.6% across 4 filed years. The Returns on Capital filter above scores it 0/100.

VBIO's filings don't disclose total debt in a form the methodology can use, so leverage is treated as unmeasured — never assumed to be zero.

Put together: Capital Discipline is the strongest of the four filters (44/100) and Pricing Power the weakest (0/100), which is how VBIO lands at 14/100 — 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.

FY2020–FY2025 · 6 fiscal years, normalized from VBIO’s SEC filings

RevenueSales, as filed$780000 FY2024
$0$1M2020202220242025
Gross marginRevenue kept after cost of goods0.3% FY2024
0%20%2020202220242025
Return on invested capitalOperating profit on the capital employed−663.4% FY2024
−5000%0%2020202220242025
Owner earningsCash an owner could take out−$8.9M FY2025
−$10M−$5M$02020202220242025

Gaps in a line mean that item isn’t in VBIO’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

1 logged reading since Jul 18, 2026 · append-only, never rewritten

Moat Score over timeLast scored reading of each day, on the 0–100 scale14.3 / 100
0406080100WideNarrowShallowNo moatJul 18, 2026

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 — VBIO has read No 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 Valion Bio, 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 scores 2022–2025, one methodology version · reconstructed from filings on file each Dec 31 — never with hindsight

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

0406080100WideNarrowShallowNo moatAs-of Moat Score0.020.050.10.20.5125102050100Indexed price · log scale (2022 = 100)20222023202420252026

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, VBIO 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.

Healthcare context

#459 of 461 scored Healthcare companies, ranked by Moat Score.

Nearest peers by Moat Score

  1. #457ADTX Aditxt, Inc.14.3No moat
  2. #458AUTL AUTOLUS THERAPEUTICS PLC14.3No moat
  3. #460PREM PREMIER AIR CHARTER HOLDINGS INC.13.3No moat
  4. #461OM Outset Medical, Inc.10.3No moat

Compare VBIO with its nearest peers →All Healthcare companies on the Index →

Common questions about VBIO

Does Valion Bio, Inc. have an economic moat?
Based on its FY2025 SEC filings, the Moat Index scores Valion Bio, Inc. (VBIO) 14.3 out of 100 — below the Shallow-moat bar, so no moat. The four filters behind that score (each 0–100): pricing power 0, returns on capital 0, balance-sheet safety 28, capital discipline 44.
How has VBIO's Moat Score changed over time?
The record logs 1 reading since Jul 18, 2026; the latest reads 14.3 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 VBIO. See the disclaimer.