The Moat Index
Compare moats, side by side.
Two to four companies, scored on the same four filters from their SEC filings — so the comparison is apples to apples. The method is fully public.
| Measure | CAPS | CENX | NTRP | WKC |
|---|---|---|---|---|
| Moat Score (0–100) | 23 (highest) | 23 (highest) | 23 (highest) | 23 (highest) |
| Pricing power | 34 (highest) | 0 | 11 | 7 |
| Returns on capital | 9 | 11 (highest) | 0 | 9 |
| Balance-sheet safety | 28 | 77 (highest) | 55 | 28 |
| Capital discipline | 24 | 24 | 44 | 64 (highest) |
| Margin of safety | No price data | No price data | No price data | 68% above value |
| Market cap | $2.3M | $4.1B | $26.6M | $2.0B |
| Moat tier | No moat | No moat | No moat | No moat |
| Filings as of | FY2025 | FY2025 | FY2026 | FY2025 |