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 | DNOW | PWR | TRS | NOV |
|---|---|---|---|---|
| Moat Score (0–100) | 26 (highest) | 26 (highest) | 26 (highest) | 25 |
| Pricing power | 27 | 27 | 36 (highest) | 1 |
| Returns on capital | 11 | 22 (highest) | 6 | 7 |
| Balance-sheet safety | 28 | 18 | 1 | 61 (highest) |
| Capital discipline | 44 | 37 | 64 (highest) | 53 |
| Margin of safety | 127% above value | 1637% above value | 57% above value (highest margin of safety) | 162% above value |
| Market cap | $2.6B | $94.0B | $1.5B | $7.0B |
| Moat tier | No moat | No moat | No moat | No moat |
| Filings as of | FY2025 | FY2025 | FY2025 | FY2025 |