Mixture-of-Experts (MoE) large language models decouple capacity from compute through sparse routing, but their large parameter count creates storage and serving challenges. We analyze three MoE compression families: expert pruning, expert merging, and weight reconstruction, and derive structural error bounds showing that pruning and merging can incur non-vanishing errors tied to routing and expert heterogeneity. In contrast, weight reconstruction avoids these structural costs by preserving expert structure and routing. Motivated by the analysis, we propose Shared Low-rank Basis Factorization (SLBF), a data-free weight reconstruction method that uses rank-k bases shared among experts, enabling richer cross-expert sharing, faster convergence, and lower reconstruction error. A post-hoc gauge fixing removes redundant parameters at no representational cost. Across five MoE architectures spanning 16B to 122B parameters, SLBF consistently outperforms methods from all three compression families.