Munger Mode rating: 1 out of 5 — Strong Sell. Our own rating from the research report below, on business quality first: moat durability and management, with price separating the top three.
We have read through Ginkgo's filings, listened to the cadence of its earnings calls, and traced the arc of this company from a $15 billion debutante to a $590 million survivor. We will tell you plainly what we found. This is not a stock we would buy at any price we can presently justify, and we will spend the next several thousand words explaining exactly why a business that traffics in the genetic code of life has, so far, mostly demonstrated its mastery of the genetic code of shareholder dilution. Let us be clear about our method. Charlie likes to say that the way to get a reputation as a good businessman is to buy a good business. We are looking for a wonderful enterprise — a durable moat and trustworthy, capable owners-in-spirit running it — at a sensible price. We are not looking for a thrilling story. Ginkgo has, in spades, the second thing and almost none of the first.
Recent filings analysed: 10-Q (2026-08-06), 8-K (2026-08-05), 8-K (2026-07-30), 10-K (2026-02-26).
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