Does Angel Studios have an economic moat?
Not clearly
Angel Studios earns -312.0% a year on the money invested in it, a return competitors could match.
The numbers behind it
Return on invested capital, average of recent years-312.0%
Return on invested capital, latest year-195.0%
Gross margin61.2%Share of each sale left after production costs
Net margin-53.0%
How we decide
A moat shows up in the numbers as high returns that last. We call it likely when the average return on invested capital over recent years is at least 15% and the gross margin at least 40%, and possible from 10%. The numbers can't show where a moat comes from (brand, network, patents), only that one seems to exist.
More questions about Angel Studios
Data as of Nov 13, 2026.