2021–2025 (latest 3 aligned FYs; v3 window cap 5): revenue $28.6M to $106M, increasing; diluted EPS -2.11 to 1.35, increasing. 2 fiscal years were 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%.
70
Median gross margin 91.0% over 4y, variable.
0
Median ROIC -108.3%, above the 12% hurdle in 0% of years.
55
Net cash position — no leverage risk.
44
Owner earnings changed trend unclear over up to the ten most recent annual observations, share count n/a.
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
No price data
Not reported
Unavailable — insufficient owner-earnings data
Unavailable — insufficient growth-model data
$10.27
No price data
This zero-growth estimate assumes trailing owner earnings persist — unreliable for declining businesses. The recent FY revenue series does not trigger the three-consecutive-declines flag.
Among the current top-score group, the median current price is 255% above the zero-growth estimate across 49 of the current top 50 companies by Moat Score with both values.
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.
14 years of fundamentals
The business, in plain English
It earned −39.2% on invested capital in the latest filed year, FY2025. Across the full 5-year measurable filed record, median ROIC was −108.3%. Over the v3 recent window (5 measurable filed years), median ROIC was −108.3%. The Returns on Capital filter above scores it 0/100.
The balance sheet carried $61.9M of total debt in FY2025 against $86.4M of owner earnings — roughly 0.7 years of owner earnings to retire it all. Balance-Sheet Safety scores it 55/100.
Put together: Pricing Power is the strongest of the five filters (70/100) and Returns on Capital the weakest (0/100), which is how ZVRA lands at 47/100 — a Shallow 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.
FY2012–FY2025 · 14 fiscal years, normalized from ZVRA’s SEC filings
Sales, as filed$106M FY2025Revenue kept after cost of goods89.3% FY2023Standard ROIC or separately labeled Operating ROICStandard ROIC −55.1% FY2025
Exact FY and FY-1 financing invested-capital inputs are required.. Not meaningful FY2018–2020: invested capital is negative (cash exceeds debt + equity). Exact FY and FY-1 Operating Invested Capital inputs are required.
Cash an owner could take out$86.4M FY2025
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 Zevra Therapeutics, Inc. makes its money
Zevra Therapeutics, Inc.'s filing does not supply enough comparable lines for a truthful flow chart — here's what is filed:
· event Dec 31, 2025 · retrieved Oct 16, 2026 · annual-row source set
Curated 19-manager tier
Who reported holding Zevra Therapeutics, Inc.
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
Manager
Reported position
Quarter-over-quarter
Filing accession
Abrams Capital
Not retrieved
Comparison not retrieved
Filing not retrieved
Akre Capital
Not retrieved
Comparison not retrieved
Filing not retrieved
Baupost Group
Not retrieved
Comparison not retrieved
Filing not retrieved
Berkshire Hathaway
Not retrieved
Comparison not retrieved
Filing not retrieved
Brave Warrior Advisors
Not retrieved
Comparison not retrieved
Filing not retrieved
Dodge & Cox
Not retrieved
Comparison not retrieved
Filing not retrieved
First Eagle
Not retrieved
Comparison not retrieved
Filing not retrieved
Fundsmith
Not retrieved
Comparison not retrieved
Filing not retrieved
Gardner Russo & Quinn
Not retrieved
Comparison not retrieved
Filing not retrieved
Gates Foundation Trust
Not retrieved
Comparison not retrieved
Filing not retrieved
Mairs & Power
Not retrieved
Comparison not retrieved
Filing not retrieved
Markel / Markel-Gayner
Not retrieved
Comparison not retrieved
Filing not retrieved
Oakmark / Harris Associates
Not retrieved
Comparison not retrieved
Filing not retrieved
Pershing Square
Not retrieved
Comparison not retrieved
Filing not retrieved
Polen Capital
Not retrieved
Comparison not retrieved
Filing not retrieved
Sequoia / Ruane Cunniff
Not retrieved
Comparison not retrieved
Filing not retrieved
Southeastern Asset Management
Not retrieved
Comparison not retrieved
Filing not retrieved
Tweedy, Browne
Not retrieved
Comparison not retrieved
Filing not retrieved
Yacktman Asset Management
Not retrieved
Comparison not retrieved
Filing 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 Oct 16, 2026
Flagship explainer
What Zevra Therapeutics, Inc. insiders reported
Records still being gathered — partial as of retrieval Oct 16, 2026.
Partial coverage: the incomplete Form 4 walk cannot establish no activity, an activity date, or zero counts.
Moat Score history
28 logged readings since Jul 17, 2026 · append-only, never rewritten
Moat Score over timeLast scored reading of each day, on the 0–100 scale46.8 / 100
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
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.
This machine-readable surface covers SEC ownership filings from 2003; it does not represent earlier paper-era records.
Records still being gathered — partial as of retrieval Oct 16, 2026.
Among the rows shown, A/F/M acquisition, payment or withholding, and exercise or conversion rows outnumber S sale rows (4 versus 3). The filing codes alone do not establish that every such row arose from a compensation plan.
Trailing-12-month totals and the 90-day cluster result are withheld because this issuer walk is incomplete.
Scroll sideways to see all columns
Insider
Shares owned after
Date
Filing detail
McFarlane Neil F.Director, President and CEO
Open-market or private sale (S)Table I · Disposed · Common Stock
20,000
$11.2474
$224,948
417,225
Oct 12, 2026
1 filed lot
Table I · Common Stock: 20,000 shares at $11.2474 · code S · owned after 417,225 ·
Exercise or conversion of derivative security (M)Table I · Acquired · Common Stock · 1 paired event
50,000
Not disclosed
Not disclosed
437,225
Oct 10, 2026
1 filed lot
Table I · Common Stock: 50,000 shares at Not disclosed · code M · owned after 437,225 · Paired event: 50,000 Restricted Stock Unit → 50,000 Common Stock ·
Exercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Unit · 1 paired event
50,000
—Exercise or conversion of derivative security (M)
—
50,000
Oct 10, 2026
1 filed lot
Table II · Restricted Stock Unit: 50,000 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 50,000 · Paired event: 50,000 Restricted Stock Unit → 50,000 Common Stock ·
Exercise or conversion of derivative security (M)Table I · Acquired · Common Stock · 1 paired event
12,300
$4.97
$61,131
14,100
Aug 10, 2026
1 filed lot
Table I · Common Stock: 12,300 shares at $4.97 · code M · owned after 14,100 · Paired event: 12,300 Stock Option (right to buy) → 12,300 Common Stock ·
Exercise or conversion of derivative security (M)Table II · Disposed · Stock Option (right to buy) · 1 paired event
12,300
—Exercise or conversion of derivative security (M)
—
46,500
Aug 10, 2026
1 filed lot
Table II · Stock Option (right to buy): 12,300 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 46,500 · Paired event: 12,300 Stock Option (right to buy) → 12,300 Common Stock ·
How Zevra Therapeutics, 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.
Point-in-time scores 2015–2025, one methodology version · reconstructed from filings on file each Dec 31 — never with hindsight
Point-in-time Moat Score (dot colored by tier)Indexed price (total-return (dividends reinvested))Rated Wide-moat that year
How to read this: each dot is what the engine would have scored ZVRA 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, ZVRA 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
#233 of 708 scored Healthcare companies, ranked by Moat Score.
Does Zevra Therapeutics, Inc. have an economic moat?
Based on its FY2025 SEC filings, the Moat Index scores Zevra Therapeutics, Inc. (ZVRA) 46.8 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 65, pricing power 70, returns on capital 0, balance-sheet safety 55, capital allocation 44.
How has ZVRA's Moat Score changed over time?
The record logs 28 readings since Jul 17, 2026; the latest reads 46.8 out of 100 (shallow 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.
Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell ZVRA. See the disclaimer.