Does WABASH NATIONAL CORPORATION have an economic moat?

Based on its FY2025 SEC filings, the Moat Index scores WABASH NATIONAL CORPORATION (WNC) 48.7 out of 100 — a Shallow moat. The four filters behind that score (each 0–100): pricing power 0, returns on capital 61, balance-sheet safety 71, capital discipline 82.

Is WNC stock trading below its intrinsic value?

Against a deliberately conservative owner-earnings model (9% discount rate, 4% assumed growth, capped at 4%), estimated intrinsic value is $49.97 per share versus a recent price of $13.44 — 73% below value. This is an educational estimate computed from primary SEC filings, not investment advice.

How has WNC's Moat Score changed over time?

The record logs 2 readings since Jul 17, 2026; the latest reads 48.7 out of 100 (shallow moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

The Moat Index

WABASH NATIONAL CORPORATION

WNC · Consumer Discretionary · $543.5M mkt cap · FY2025 filings · Shallow moat ·

On the watchlist

Shallow moat

The four filters

Pricing power0

Median gross margin 13.1% over 10y, variable.

Returns on capital61

Median ROIC 13.4%, above the 9% hurdle in 70% of years.

Balance-sheet safety71

Net debt/EBITDA 1.1x, interest coverage 14x.

Capital discipline82

Owner earnings +6.8%/yr, share count shrinking (buybacks).

Margin of safety

Above valueOn sale

73% below value

Owner earnings (normalized): $112.3M
Est. intrinsic value / share: $49.97
Recent price: $13.44
Discount to value: 73% below value

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

Fundamentals

There's no normalized fundamentals series for WNC yet — it appears once ingest has processed its filings.

Moat Score history

Moat Score over timeLast scored reading of each day, on the 0–100 scale48.7 / 100

Score history begins Jul 17, 2026 — the record builds from here and can’t be backfilled.

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

None yet — WNC has read Shallow moat for every logged capture since Jul 17, 2026.

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

Consumer Discretionary context

#158 of 340 scored Consumer Discretionary companies, ranked by Moat Score.

Nearest peers by Moat Score

#156AN AUTONATION, INC.49.4 out of 100, Shallow moatShallow moat
#157CVSA Covista Inc.48.7 out of 100, Shallow moatShallow moat
#159MNRO Monro, Inc.48.5 out of 100, Shallow moatShallow moat
#160HURN HURON CONSULTING GROUP INC.48.5 out of 100, Shallow moatShallow moat

Compare WNC with its nearest peers →All Consumer Discretionary companies on the Index →

Common questions about WNC

Does WABASH NATIONAL CORPORATION have an economic moat?: Based on its FY2025 SEC filings, the Moat Index scores WABASH NATIONAL CORPORATION (WNC) 48.7 out of 100 — a Shallow moat. The four filters behind that score (each 0–100): pricing power 0, returns on capital 61, balance-sheet safety 71, capital discipline 82.
Is WNC stock trading below its intrinsic value?: Against a deliberately conservative owner-earnings model (9% discount rate, 4% assumed growth, capped at 4%), estimated intrinsic value is $49.97 per share versus a recent price of $13.44 — 73% below value. This is an educational estimate computed from primary SEC filings, not investment advice.
How has WNC's Moat Score changed over time?: The record logs 2 readings since Jul 17, 2026; the latest reads 48.7 out of 100 (shallow 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 WNC. See the disclaimer.