Matters Graph

Matters Graph is a specialist buy-side-focused consultancy that provides objective fact-based commercial due diligence and value gen support for private equity and private lender clients.

Access our ongoing series covering best-practices for assessing market opportunities and conducting commercial due diligence.

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Economic Moat Analysis in Commercial Diligence Predicts Investment Performance

By Mark Stein

Claims of competitive advantage in investment memoranda and acquisition targets are nearly universal—yet despite the proven power of economic moats to indicate and drive investment returns, most Commercial Due Diligences either ignore the subject or treat moats as binary states rather than the dynamic forces they are.

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PART 1 OF 4: The Returns Case and Framework for Moat Analysis in Commercial Due Diligence

By Mark Stein

Why Moats Matter: The Evidence on Investment Returns The Quantitative Evidence: Economic Moats Deliver Exceptional Returns Research consistently demonstrates that companies with durable competitive advantages generate substantially higher returns:

NEWS

Access all of our recent news including deals supported by Matters Graph and firm news.

12 February 2026

Congratulations to Industrial Service Solutions and Wynnchurch Capital, L.P. on ISS’s acquisition of MSHS Pacific Power Group

14 January 2026

Congratulations to 11:11 Systems and Tiger Infrastructure Partners on 11:11 System’s Acquisition of NTirety, a Managed and Professional IT Services Firm