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Wealthfront Corporation

WLTH · Other · $1.4B mkt cap · FY2026 filings · · Shallow moat ·

Doesn't clear the bar

Shallow moat
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The five investor questions

60

2024–2026 (latest 3 aligned FYs; v3 window cap 5): revenue $217M to $365M, increasing; diluted EPS 0.54 to -0.76, decreasing.

100

Median gross margin 89.6% over 3y, very stable.

—

Not enough years of ROIC data to score returns on capital.

28

Net debt/EBITDA n/ax, interest coverage -113x.

44

Owner earnings changed trend unclear over up to the ten most recent annual observations, share count n/a.

The returnsOnCapital component abstained: Not enough years of ROIC data to score returns on capital. 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
65% above value if growth stopped today
$77M
$5.69
$5.69
$9.40
65% above value if growth stopped today

What today’s price assumes: owner earnings growing ~11%/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 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?

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

Wealthfront Corporation booked $365M of revenue in FY2026 in the Other sector and kept 89.6% of it as gross profit — a high-margin business by that measure. After every other cost, −11.5% of each revenue dollar reached the bottom line.

WLTH'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.

FY2023–FY2026 · 4 fiscal years, normalized from WLTH’s SEC filings

Sales, as filed$365M FY2026
$0$200M2023202420252026
Revenue kept after cost of goods89.6% FY2026
0%50%2023202420252026
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−$42.1M FY2026
$0$100M$200M2023202420252026

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 Wealthfront Corporation makes its money

Wealthfront Corporation's filing does not supply enough comparable lines for a truthful flow chart — here's what is filed:

Table alternative
Filed lineValue% of revenueSource
$365M100%
  • 10-K · FY 2026Filing detailsAccession 0001628280-26-027232 · filed Apr 24, 2026
Cost of revenue$38M10%
  • 10-K · FY 2026Filing detailsAccession 0001628280-26-027232 · filed Apr 24, 2026
$327M90%
  • 10-K · FY 2026Filing detailsAccession 0001628280-26-027232 · filed Apr 24, 2026
Income before tax−$101M−28%
  • 10-K · FY 2026Filing detailsAccession 0001628280-26-027232 · filed Apr 24, 2026
Income tax−$59.2M−16%
  • 10-K · FY 2026Filing detailsAccession 0001628280-26-027232 · filed Apr 24, 2026
−$42.1M−12%
  • 10-K · FY 2026Filing detailsAccession 0001628280-26-027232 · filed Apr 24, 2026
Source:
  • 10-K · FY 2026Filing detailsAccession 0001628280-26-027232 · filed Apr 24, 2026
· event Jan 31, 2026 · retrieved Sep 4, 2026 · annual-row source set

Flagship explainer

What Wealthfront Corporation owns — and owes

Wealthfront Corporation's filing tags don't support a full breakdown — here's what is filed:

Table alternative
Filed lineValue% of assetsSource
Total assets$1.4B100%
  • 10-K · FY 2026Filing detailsAccession 0001628280-26-027232 · filed Apr 24, 2026
Cash and equivalents$441M31%
  • 10-K · FY 2026Filing detailsAccession 0001628280-26-027232 · filed Apr 24, 2026
Stockholders’ equity$615M43%
  • 10-K · FY 2026Filing detailsAccession 0001628280-26-027232 · filed Apr 24, 2026
Source:
  • 10-K · FY 2026Filing detailsAccession 0001628280-26-027232 · filed Apr 24, 2026
· event Jan 31, 2026 · retrieved Sep 4, 2026 · annual-row source set

Flagship explainer

What drives Wealthfront Corporation’s return on equity?

One or more filed inputs needed for the five-factor decomposition are unavailable.

DuPont source inputs
InputValueFiscal yearSource
Net income−$42.1MFY2026
  • 10-K · FY 2026Filing detailsAccession 0001628280-26-027232 · filed Apr 24, 2026
Income before tax−$101MFY2026
  • 10-K · FY 2026Filing detailsAccession 0001628280-26-027232 · filed Apr 24, 2026
Operating incomeUnavailableFY2026
  • 10-K · FY 2026Filing detailsAccession 0001628280-26-027232 · filed Apr 24, 2026
Revenue$365MFY2026
  • 10-K · FY 2026Filing detailsAccession 0001628280-26-027232 · filed Apr 24, 2026
Ending assets$1.4BFY2026
  • 10-K · FY 2026Filing detailsAccession 0001628280-26-027232 · filed Apr 24, 2026
Beginning assets$435MFY2025
  • 10-K · FY 2025Filing detailsAccession 0001628280-26-027232 · filed Apr 24, 2026
Ending equity$615MFY2026
  • 10-K · FY 2026Filing detailsAccession 0001628280-26-027232 · filed Apr 24, 2026
Beginning equity$15.3MFY2025
  • 10-K · FY 2025Filing detailsAccession 0001628280-26-027232 · filed Apr 24, 2026
Source: · event Jan 31, 2026 · retrieved Sep 4, 2026 · annual-row source set

Flagship explainer

Where Wealthfront Corporation's cash went

Wealthfront Corporation’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$152M100%
  • 10-K · FY 2026Filing detailsAccession 0001628280-26-027232 · filed Apr 24, 2026
Depreciation and amortization$7.4M5%
  • 10-K · FY 2026Filing detailsAccession 0001628280-26-027232 · filed Apr 24, 2026
Source:
  • 10-K · FY 2026Filing detailsAccession 0001628280-26-027232 · filed Apr 24, 2026
· event Jan 31, 2026 · retrieved Sep 4, 2026 · annual-row source set

Curated 19-manager tier

Who reported holding Wealthfront Corporation

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 Sep 4, 2026

Flagship explainer

What Wealthfront Corporation 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

1 logged reading since Sep 4, 2026 · append-only, never rewritten

Moat Score over timeLast scored reading of each day, on the 0–100 scale57.9 / 100
0406080100WideNarrowShallowNo moatSep 4, 2026

Score history begins Sep 4, 2026 — the record builds forward from here.

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

None yet — WLTH has read Shallow 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.

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

Other context

#25 of 99 scored Other companies, ranked by Moat Score.

Nearest peers by Moat Score

  1. #23SNFCA Security National Financial Corporation60.0Narrow moat
  2. #24GPGI GPGI, Inc.58.4Shallow moat
  3. #26PGY Pagaya Technologies Ltd.57.9Shallow moat
  4. #27HKHC HORIZON KINETICS HOLDING CORPORATION57.7Shallow moat

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

Common questions about WLTH

Does Wealthfront Corporation have an economic moat?
Based on its FY2026 SEC filings, the Moat Index scores Wealthfront Corporation (WLTH) 57.9 out of 100 — a Shallow 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 60, pricing power 100, returns on capital not measurable from the filings, balance-sheet safety 28, capital allocation 44.
Is WLTH trading below the conservative owner-earnings estimate?
The value if growth stopped today — a zero-growth baseline — is $5.69 per share. It capitalizes normalized owner earnings at a 9% rate and assumes 0% growth. Versus a recent price of $9.40, that is 65% 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 WLTH's Moat Score changed over time?
The record logs 1 reading since Sep 4, 2026; the latest reads 57.9 out of 100 (shallow 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 WLTH. See the disclaimer.