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VEMANTI GROUP, INC.

VMNT · Other · $1.4M mkt cap · FY2023 filings · · No moat ·

Price verdict withheld — value if growth stopped today unreliable

No moat
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The five investor questions

7

2020–2023 (latest 4 aligned FYs; v3 window cap 5): revenue $162292 to $123056, decreasing; diluted EPS 0.00 to -0.02, decreasing.

99

Median gross margin 82.4% over 4y, very stable.

0

Median ROIC -192.7%, above the 12% hurdle in 0% of years.

28

Net debt/EBITDA n/ax, interest coverage -51x.

34

Owner earnings changed trend unclear over up to the ten most recent annual observations.

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
$0.02
No price data

This zero-growth estimate assumes trailing owner earnings persist — unreliable for declining businesses. VMNT 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 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.

5 years of fundamentals

The business, in plain English

VEMANTI GROUP, INC. booked $123056 of revenue in FY2023 in the Other sector and kept 81.4% of it as gross profit — a high-margin business by that measure. After every other cost, −1218.0% of each revenue dollar reached the bottom line.

VMNT's latest filed year, FY2023, 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: Pricing Power is the strongest of the five filters (99/100) and Returns on Capital the weakest (0/100), which is how VMNT lands at 34/100 — 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.

FY2019–FY2023 · 5 fiscal years, normalized from VMNT’s SEC filings

Sales, as filed$123056 FY2023
$0$100000201920212023
Revenue kept after cost of goods81.4% FY2023
0%50%201920212023
Standard ROIC or separately labeled Operating ROIC

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

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

Cash an owner could take out−$1.5M FY2023
−$1M$0201920212023

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 VEMANTI GROUP, 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$123056 · 100%Cost of revenue$22883 · 19%Gross profit$100173 · 81%Operating income−$1.5M · −1195%Income before tax−$1.5M · −1217%Income tax$844 · 1%Net income−$1.5M · −1218%As of 2023-12-31 · 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
$123056100%
  • 10-K · FY 2023Filing detailsAccession 0001477932-24-001509 · filed Mar 28, 2024
Cost of revenue$2288319%
  • 10-K · FY 2023Filing detailsAccession 0001477932-24-001509 · filed Mar 28, 2024
$10017381%
  • 10-K · FY 2023Filing detailsAccession 0001477932-24-001509 · filed Mar 28, 2024
−$1.5M−1195%
  • 10-K · FY 2023Filing detailsAccession 0001477932-24-001509 · filed Mar 28, 2024
Income before tax−$1.5M−1217%
  • 10-K · FY 2023Filing detailsAccession 0001477932-24-001509 · filed Mar 28, 2024
Income tax$8441%
  • 10-K · FY 2023Filing detailsAccession 0001477932-24-001509 · filed Mar 28, 2024
−$1.5M−1218%
  • 10-K · FY 2023Filing detailsAccession 0001477932-24-001509 · filed Mar 28, 2024
Source:
  • 10-K · FY 2023Filing detailsAccession 0001477932-24-001509 · filed Mar 28, 2024
· event Dec 31, 2023 · retrieved Oct 20, 2026 · annual-row source set
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Flagship explainer

What VEMANTI GROUP, INC. owns — and owes

VEMANTI GROUP, INC.'s filing tags don't support a full breakdown — here's what is filed:

Table alternative
Filed lineValue% of assetsSource
Total assets$144941100%
  • 10-K · FY 2023Filing detailsAccession 0001477932-24-001509 · filed Mar 28, 2024
Cash and equivalents$13640794%
  • 10-K · FY 2023Filing detailsAccession 0001477932-24-001509 · filed Mar 28, 2024
Stockholders’ equity−$172370−119%
  • 10-K · FY 2023Filing detailsAccession 0001477932-24-001509 · filed Mar 28, 2024
Source:
  • 10-K · FY 2023Filing detailsAccession 0001477932-24-001509 · filed Mar 28, 2024
· event Dec 31, 2023 · retrieved Oct 20, 2026 · annual-row source set

Flagship explainer

What drives VEMANTI GROUP, 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−968%Tax burden100%net income ÷ pretax incomeInterest burden102%pretax ÷ operating incomeOperating margin−1195%operating income ÷ revenueAsset turnover0.26×revenue ÷ average assetsEquity multiplier3.07×average assets ÷ average equityAs of 2023-12-31 · 2 SEC filing sourcesBuy Like Buffett · buylikebuffett.com
DuPont source inputs
InputValueFiscal yearSource
−$1.5MFY2023
  • 10-K · FY 2023Filing detailsAccession 0001477932-24-001509 · filed Mar 28, 2024
Income before tax−$1.5MFY2023
  • 10-K · FY 2023Filing detailsAccession 0001477932-24-001509 · filed Mar 28, 2024
Operating income−$1.5MFY2023
  • 10-K · FY 2023Filing detailsAccession 0001477932-24-001509 · filed Mar 28, 2024
$123056FY2023
  • 10-K · FY 2023Filing detailsAccession 0001477932-24-001509 · filed Mar 28, 2024
Ending assets$144941FY2023
  • 10-K · FY 2023Filing detailsAccession 0001477932-24-001509 · filed Mar 28, 2024
Beginning assets$806177FY2022
  • 10-K · FY 2022Filing detailsAccession 0001477932-23-001945 · filed Mar 30, 2023
  • 10-K · FY 2022Filing detailsAccession 0001477932-24-001509 · filed Mar 28, 2024
−$172370FY2023
  • 10-K · FY 2023Filing detailsAccession 0001477932-24-001509 · filed Mar 28, 2024
$482195FY2022
  • 10-K · FY 2022Filing detailsAccession 0001477932-23-001945 · filed Mar 30, 2023
  • 10-K · FY 2022Filing detailsAccession 0001477932-24-001509 · filed Mar 28, 2024
Source: · event Dec 31, 2023 · retrieved Oct 20, 2026 · annual-row source set
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Flagship explainer

Where VEMANTI GROUP, INC.'s cash went

VEMANTI GROUP, 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−$371105−100%
  • 10-K · FY 2023Filing detailsAccession 0001477932-24-001509 · filed Mar 28, 2024
Depreciation and amortization$00%
  • 10-K · FY 2023Filing detailsAccession 0001477932-24-001509 · filed Mar 28, 2024
Source:
  • 10-K · FY 2023Filing detailsAccession 0001477932-24-001509 · filed Mar 28, 2024
· event Dec 31, 2023 · retrieved Oct 20, 2026 · annual-row source set

Curated 19-manager tier

Who reported holding VEMANTI GROUP, INC.

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
ManagerReported positionQuarter-over-quarterFiling accession
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
Markel / Markel-GaynerNot 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: Filing source not retrieved · event Jun 30, 2026 · retrieved Oct 20, 2026

Flagship explainer

What VEMANTI GROUP, INC. insiders reported

The complete Form 4 source snapshot retrieved on Oct 20, 2026 contains no transaction rows.

Verified empty: the retrieved source snapshot contains no transaction event.

Source snapshot retrieved 2026-10-20T07:00:04.208Z · SEC Form 4

Moat Score history

16 logged readings since Sep 4, 2026 · append-only, never rewritten

Moat Score over timeLast scored reading of each day, on the 0–100 scale33.5 / 100
0406080100WideNarrowShallowNo moatSep 4, 2026Oct 20, 2026

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

None yet — VMNT has read No moat for every logged capture since Sep 4, 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.

No reported Form 4 transactions were found in the complete checked issuer window for VMNT, –. The totals and cluster result below are arithmetic over that certified window.

$0
P purchases minus S sales only, Oct 20, 2025–Oct 20, 2026.
0 P / 0 S
Only P and S are included; awards, gifts, exercises, withholding, and other mechanics are excluded.
No
Requires at least 3 distinct insiders with P purchases.

Transaction-code histogram

Supporting event counts for the same certified window, Oct 20, 2025–Oct 20, 2026.

P
0
S
0
A
0
F
0
M
0
G
0
C
0
J
0
W
0

Retrieved .

Other context

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

Nearest peers by Moat Score

  1. #78BTBT Bit Digital, Inc.33.7No moat
  2. #79HYPD HYPERION DEFI, INC.33.6No moat
  3. #81DRK DarkHorse Technologies Inc33.3No moat
  4. #82ACGP Associated Capital Group, Inc.33.1No moat

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

Common questions about VMNT

Does VEMANTI GROUP, INC. have an economic moat?
Based on its FY2023 SEC filings, the Moat Index scores VEMANTI GROUP, INC. (VMNT) 33.5 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 7, pricing power 99, returns on capital 0, balance-sheet safety 28, capital allocation 34.
How has VMNT's Moat Score changed over time?
The record logs 16 readings since Sep 4, 2026; the latest reads 33.5 out of 100 (no moat). No tier changes on record yet. 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 VMNT. See the disclaimer.