The Moat Index

VALVOLINE INC.

VVV · Energy · $5.1B mkt cap · FY2025 filings · Narrow moat

On the watchlist

65/ 100
Narrow moat

The four filters

Pricing power63

Median gross margin 38.4% over 10y, very stable.

Returns on capital93

Median ROIC 22.0%, above the 9% hurdle in 80% of years.

Balance-sheet safety27

Net debt/EBITDA 2.6x, interest coverage 5x.

Capital discipline64

Owner earnings trend unclear, share count shrinking (buybacks).

Margin of safety

Above valueOn sale
56% above value
Owner earnings (normalized)
$292.3M
Est. intrinsic value / share
$25.55
Recent price
$39.92
Discount to value
56% above value

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

Moat Score history

Score history begins 2026-07-17. Check back as the record builds.

Scores are logged append-only and never overwritten — this record can't be backfilled, which is exactly why it's worth keeping.

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VALVOLINE INC. (VVV) Moat Score — The Moat Index · Buy Like Buffett