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.
EXP · Materials · Narrow moat
Wonderful & reasonably priced
The balanceSheet component abstained: Insufficient leverage/coverage inputs to score the balance sheet. The other four 20% weights were renormalized over the scored 80%.
| Measure | EXP | NOBH | CVCO | PNRG |
|---|---|---|---|---|
| Moat Score (0–100) | 75 | 78 (highest) | 76 | 75 |
| Methodology version | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 |
| Business trend | 90 (highest) | 78 | 73 | 80 |
| Pricing power | 43 | 40 | 36 | 98 (highest) |
| Returns on capital | 84 | 100 (highest) | 100 (highest) | 18 |
| Balance-sheet safety | — | 100 (highest) | 73 | 78 |
| Capital allocation | 82 | 72 | 100 (highest) | 100 (highest) |
| 30% above value if growth stopped today | 3% above value if growth stopped today | 108% above value if growth stopped today | 2% below value if growth stopped today (largest discount to value if growth stopped today) | |
| Market cap | $6.7B | $97.6M | $4.4B | $306M |
| Moat tier | Narrow moat | Narrow moat | Narrow moat | Narrow moat |
| Filing date | FY2026 | FY2025 | FY2026 | FY2025 |