Munger Mode rating: 2 out of 5 — Sell. Our own rating from the research report below, on business quality first: moat durability and management, with price separating the top three.
Written in the voice and through the analytical lens of Warren Buffett and Charlie Munger. Primary sources: SoFi's Form 10-Q for the quarter ended June 30, 2026, the Q2 2026 earnings release of July 29, 2026, and current market data. Warren: We've watched SoFi for years, the way you watch an energetic young athlete who plays every position at once. The company grew revenue 43% last quarter, added over a million members, and reported its ninth or tenth consecutive profitable quarter. Those are real accomplishments, and Anthony Noto is a talented, hard-driving operator. But when we strip away the adjusted metrics and ask our two questions — is there a durable moat, and can we trust the earnings? — we find a fast-growing consumer lender with a narrow moat, a high-cost deposit base, earnings that lean on fair-value markups of its own loans, and a share count that grew 16% in twelve months.
Recent filings analysed: 10-Q (2026-08-06), 8-K (2026-07-29), 8-K (2026-06-18), 10-Q (2026-05-07).
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