The Moat Index
Compare moats, side by side.
Two to four companies, scored on the same five investor questions from their SEC filings — so the comparison is apples to apples. The method is fully public.
CLX · Materials · Narrow moat
On the watchlist
The returnsOnCapital component abstained: Not enough years of ROIC data to score returns on capital. The other four 20% weights were renormalized over the scored 80%.
SM · Materials · Narrow moat
On the watchlist
The capitalDiscipline component abstained: Not enough owner-earnings history to score capital discipline. The other four 20% weights were renormalized over the scored 80%.
| Measure | CDE | MTDR | CLX | SM |
|---|---|---|---|---|
| Moat Score (0–100) | 61 (highest) | 61 (highest) | 61 (highest) | 60 |
| Methodology version | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 |
| Business trend | 70 | 76 (highest) | 56 | 75 |
| Pricing power | 65 | 100 (highest) | 70 | 86 |
| Returns on capital | 9 | 61 (highest) | — | 43 |
| Balance-sheet safety | 100 (highest) | 45 | 60 | 37 |
| Capital discipline | 60 (highest) | 24 | 57 | — |
| Price vs. high estimate | No price data | 33% below high estimate (largest discount to high estimate) | 128% above high estimate | No price data |
| Market cap | $9.7B | $6.3B | $11.7B | $3.8B |
| Moat tier | Narrow moat | Narrow moat | Narrow moat | Narrow moat |
| Filings as of | FY2025 | FY2025 | FY2025 | FY2025 |