Does UMB Financial Corporation Depositary Shares Each Representing a 1/400th Interest in a Share of 7.750% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series B have an economic moat?
Not clearly
UMB Financial Corporation Depositary Shares Each Representing a 1/400th Interest in a Share of 7.750% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series B earns 0.0% a year on the money invested in it, a return competitors could match.
The numbers behind it
Return on invested capital, average of recent years0.0%
Return on invested capital, latest year–
Gross margin–Share of each sale left after production costs
Net margin28.9%
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.