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 | FCX | HCC | IOSP | VMC |
|---|---|---|---|---|
| Moat Score (0–100) | 58 | 59 (highest) | 59 (highest) | 58 |
| Pricing power | 19 | 48 (highest) | 46 | 42 |
| Returns on capital | 85 | 92 (highest) | 52 | 71 |
| Balance-sheet safety | 91 | 62 | 100 (highest) | 39 |
| Capital discipline | 44 | 23 | 46 | 82 (highest) |
| Margin of safety | No price data | 49% above value | Around fair value (highest margin of safety) | 124% above value |
| Market cap | — | $4.1B | $2.1B | $37.7B |
| Moat tier | Shallow moat | Shallow moat | Shallow moat | Shallow moat |
| Filings as of | FY2025 | FY2025 | FY2025 | FY2025 |