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.
HWM · Industrials · Shallow moat
Doesn't clear the bar
The pricingPower component abstained: Not enough years of gross-margin data to score pricing power. The other four 20% weights were renormalized over the scored 80%.
NELR · Industrials · Shallow moat
Doesn't clear the bar
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%.
UPS · Industrials · Shallow moat
Doesn't clear the bar
The pricingPower component abstained: Not enough years of gross-margin data to score pricing power. The other four 20% weights were renormalized over the scored 80%.
| Measure | FLS | HWM | NELR | UPS |
|---|---|---|---|---|
| Moat Score (0–100) | 58 | 59 (highest) | 58 | 57 |
| Methodology version | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 |
| Business trend | 95 | 100 (highest) | 60 | 25 |
| Pricing power | 51 | — | 70 (highest) | — |
| Returns on capital | 25 | 25 | — | 100 (highest) |
| Balance-sheet safety | 40 | 65 | 78 (highest) | 46 |
| Capital allocation | 77 (highest) | 44 | 24 | 57 |
| 299% above value if growth stopped today (largest discount to value if growth stopped today) | 871% above value if growth stopped today | No price data | No price data | |
| Market cap | $9.0B | $88.3B | Not reported | Not reported |
| Moat tier | Shallow moat | Shallow moat | Shallow moat | Shallow moat |
| Filing date | FY2025 | FY2025 | FY2025 | FY2025 |