Does B. Riley Financial, Inc. 5.25% Senior Notes due 2028 have an economic moat?
Not clearly
B. Riley Financial, Inc. 5.25% Senior Notes due 2028 earns -5.1% 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-5.1%
Return on invested capital, latest year62.2%
Gross margin73.8%Share of each sale left after production costs
Net margin35.6%
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.
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Data as of Nov 13, 2026.