Munger Mode rating: 4 out of 5 — Buy. Our own rating from the research report below, on business quality first: moat durability and management, with price separating the top three.
Charlie used to say the best businesses are the ones you can explain to your barber in two minutes. Verisign takes about thirty seconds. Verisign is the sole registry operator for the .com and .net top-level domains. Every one of the 179.1 million .com and .net domain names in existence as of June 30, 2026 pays Verisign an annual fee — currently $10.26 wholesale for .com, rising to $10.97 on November 1, 2026 — collected through registrars like GoDaddy who handle the retail relationship. Verisign never touches the end customer. It runs the authoritative database, answers the DNS queries, and cashes the checks. It also performs the Root Zone Maintainer function for the entire internet and operates two of the thirteen global root servers — plumbing so critical that most people have never heard of it, which is exactly how we like it. That's the whole business. One reportable segment.
Recent filings analysed: 10-Q (2026-07-23), 8-K (2026-07-23), 8-K (2026-06-26), FWP (2026-06-18).
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