Fair Isaac Corp

FICO: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Fair Isaac: Downgrading Our Moat to Narrow as Range of Outcomes in the Scores Business Has Widened

Rajiv Bhatia

Oct 21, 2026

As VantageScore is increasingly adopted and the actions of the Federal Housing Finance Agency can be difficult to predict, we are downgrading our Morningstar Economic Moat Rating on Fair Isaac to narrow from wide.

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Fair Isaac Corp

Fair Isaac: Downgrading Our Moat to Narrow as Range of Outcomes in the Scores Business Has Widened

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