A competitive moat is the structural reason a business can defend its profits from competitors over time. This guide shows you exactly where to find moat evidence in a company’s SEC filings, what the numbers should look like when the moat is real, and what changes when it starts to crack.
There are five types of moats. Each one leaves a specific trail in the filings. Knowing where to look is the skill.
Where to Go in Any 10-K
