Verastem, Inc.
VSTM · Healthcare · $620M mkt cap · FY2025 filings · · No moat ·
Doesn't clear the bar
The five investor questions
2021–2025 (latest 4 aligned FYs; v3 window cap 5): revenue $2.1M to $30.9M, increasing; diluted EPS -2.45 to -3.02, decreasing. 1 fiscal year was not jointly reported; CAGR uses the full 4-year elapsed span. Latest-filed diluted EPS remains usable for Business Trend, but an integer share-count change lacks enough evidence to confirm a comparable EPS basis; valuation growth therefore stays at 0%.
Not enough years of gross-margin data to score pricing power.
Median ROIC -77.6%, above the 12% hurdle in 0% of years.
Net debt/EBITDA n/ax, interest coverage -149x.
Owner earnings changed trend unclear over up to the ten most recent annual observations, share count n/a.
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.
- Not reported
- Unavailable — insufficient owner-earnings data
- Unavailable — insufficient growth-model data
- $7.98
- No price data
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 238% above the zero-growth estimate across 49 of the current top 50 companies by Moat Score with both values.
Score records captured Sep 4, 2026.
Exactly which 50 companies?
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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.
16 years of fundamentals
The business, in plain English
Across the filed record, revenue grew from $26.7M (FY2018) to $30.9M (FY2025) — about 2.1% a year compounded over 7 years.
ROIC is not available for the latest filed year, FY2025. Across the full 8-year measurable filed record, median ROIC was −73.2%. Over the v3 recent window (4 measurable filed years), median ROIC was −77.6%. The Returns on Capital filter above scores it 0/100.
VSTM's latest filed year, FY2025, 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.
Exact FY and FY-1 financing invested-capital inputs are required.. Current-year EBIT, tax expense, and non-zero pretax income are required for standard ROIC.. Exact FY and FY-1 Operating Invested Capital inputs are required.
Exact FY and FY-1 financing invested-capital inputs are required.. Current-year EBIT, tax expense, and non-zero pretax income are required for standard ROIC.. Exact FY and FY-1 Operating Invested Capital inputs are required.
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.
Visual explainers
The filing-backed explainer service is temporarily unavailable, so no partial or guessed chart is shown.
Moat Score history
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
- 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 VSTM.
Track record
How Verastem, 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.
How to read this: each dot is what the engine would have scored VSTM 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 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, VSTM 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
#479 of 708 scored Healthcare companies, ranked by Moat Score.
Nearest peers by Moat Score
- #477SKVI Skinvisible, Inc.33.7 out of 100, No moatNo moat
- #478BNGO Bionano Genomics, Inc.33.7 out of 100, No moatNo moat
- #480HYPD HYPERION DEFI, INC.33.6 out of 100, No moatNo moat
- #481ARVN ARVINAS, INC.33.5 out of 100, No moatNo moat
Compare VSTM with its nearest peers →All Healthcare companies on the Index →
Common questions about VSTM
- Does Verastem, Inc. have an economic moat?
- Based on its FY2025 SEC filings, the Moat Index scores Verastem, Inc. (VSTM) 33.7 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 63, pricing power not measurable from the filings, returns on capital 0, balance-sheet safety 28, capital allocation 44.
- How has VSTM's Moat Score changed over time?
- The record logs 16 readings since Jul 17, 2026; the latest reads 33.7 out of 100 (no 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.