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.

EVOLUTION PETROLEUM CORP

EPM · Materials · Shallow moat

Shallow moat

Doesn't clear the bar

HNI Corporation

HNI · Materials · Shallow moat

Shallow moat

Doesn't clear the bar

Luvu Brands, Inc.

LUVU · Materials · Shallow moat

Shallow moat

On the watchlist

Ring Energy, Inc.

REI · Materials · Shallow moat

Shallow moat

On the watchlist

Measure	EPM	HNI	LUVU	REI
Moat Score (0–100)	46 (highest)	46 (highest)	46 (highest)	45
Pricing power	74	61	42	87 (highest)
Returns on capital	53	53	92 (highest)	16
Balance-sheet safety	28	40 (highest)	0	28
Capital discipline	11	21	29	44 (highest)
Margin of safety	189% above value	77% above value	68% below value (highest margin of safety)	66% below value
Market cap	$130.8M	$3.0B	$3.1M	$255.4M
Moat tier	Shallow moat	Shallow moat	Shallow moat	Shallow moat
Filings as of	FY2025	FY2025	FY2025	FY2025

Scores reflect business quality, not buy/sell signals. Educational only — not investment advice, and not a recommendation on any company shown. See the methodology and disclaimer.