ZeroStack Corp.
ZSTK · Industrials · $1.5M mkt cap · FY2025 filings · No moat ·
Doesn't clear the bar
The five investor questions
2022–2025 (latest 4 aligned FYs; v3 window cap 5): revenue $33.4M to $35.7M, increasing; diluted EPS -6.84 to -43.49, decreasing. 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%.
Median gross margin 23.3% over 5y, variable.
Median ROIC -103.1%, above the 12% hurdle in 0% of years.
Net debt/EBITDA n/ax, interest coverage 0x.
Owner earnings trend unclear, share count n/a.
Price vs. conservative owner-earnings floor
A cautious baseline, not a price target: what the shares may support if normalized owner earnings simply hold steady.
- Owner earnings (normalized)
- Not reported
- Owner-earnings floor / share
- Unavailable — insufficient owner-earnings data
- Capped-growth comparison / share
- Unavailable — insufficient growth-model data
- Recent price
- $1.45
- Price vs. owner-earnings floor
- No price data
This floor assumes trailing owner earnings persist — unreliable for declining businesses. The recent FY revenue series does not trigger the three-consecutive-declines flag.
Cohort context: median current price is 239% above the floor across 48 of the current top 50 companies by Moat Score with both values.
Score records captured Jul 26, 2026.
Exactly which 50 companies?
FTNT, META, MEDP, IBEX, MSFT, GOOGL, LULU, ANF, IDXX, TXRH, FHI, QLYS, FFIV, ADBE, LLY, MANH, VEEV, GRMN, SSD, MNST, DOCS, MCO, CPRT, NTAP, LRCX, NVDA, CORT, SFM, MPTI, ULTA, SN, RMD, ROL, PAYC, IRMD, INTU, DECK, MORN, LGCY, DAL, GWW, ISRG, MPWR, CTAS, LOPE, MRK, CMG, FAST, BKNG, ORLY
Missing a usable price or floor: ANF, BKNG.
Model details under moat-index@3.0.0: zero-growth floor 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.
6 years of fundamentals
The business, in plain English
ZeroStack Corp. booked $35.7M of revenue in FY2025 in the Industrials sector and kept 4.6% of it as gross profit — a thin-margin business by that measure. After every other cost, −335.6% of each revenue dollar reached the bottom line.
It earned −103.1% on invested capital in the latest filed year, FY2025. Across the full 5-year measurable filed record, median ROIC was −103.1%. Over the v3 recent window (5 measurable filed years), median ROIC was −103.1%. The Returns on Capital filter above scores it 0/100.
The balance sheet carried $53.5M of total debt in FY2025. Balance-Sheet Safety scores it 28/100.
Put together: Capital Discipline is the strongest of the five filters (44/100) and Returns on Capital the weakest (0/100), which is how ZSTK lands at 24/100 — 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.
Gaps in a line mean that item isn’t in ZSTK’s 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.
Moat Score history
Score history begins Jul 26, 2026 — the record builds from here and can’t be backfilled.
Tier changesSame-methodology crossings of the Wide / Narrow / Shallow bars
None yet — ZSTK has read No moat for every logged capture since Jul 26, 2026.
Scores are logged append-only and never overwritten — this record can’t be backfilled, which is exactly why it’s worth keeping.
Industrials context
#379 of 428 scored Industrials companies, ranked by Moat Score.
Nearest peers by Moat Score
- #377MEDS Wellgistics Health, Inc.24.3 out of 100, No moatNo moat
- #378SMXT SolarMax Technology, Inc.24.0 out of 100, No moatNo moat
- #380WHR WHIRLPOOL CORP /DE/23.7 out of 100, No moatNo moat
- #381CHSCP CHS Inc.23.3 out of 100, No moatNo moat
Compare ZSTK with its nearest peers →All Industrials companies on the Index →
Common questions about ZSTK
- Does ZeroStack Corp. have an economic moat?
- Based on its FY2025 SEC filings, the Moat Index scores ZeroStack Corp. (ZSTK) 23.8 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 34, pricing power 13, returns on capital 0, balance-sheet safety 28, capital discipline 44.
- How has ZSTK's Moat Score changed over time?
- The record logs 1 reading since Jul 26, 2026; the latest reads 23.8 out of 100 (no moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.