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.
FTCO · Materials · Shallow moat
On the watchlist
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%.
BTU · Materials · 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%.
PUBC · Materials · 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%.
| Measure | FTCO | BTU | PUBC | DLX |
|---|---|---|---|---|
| Moat Score (0–100) | 41 (highest) | 41 (highest) | 41 (highest) | 40 |
| Methodology version | moat-index@2.0.0 | moat-index@2.0.0 | moat-index@2.0.0 | moat-index@2.0.0 |
| Business trend | 20 | 28 | 27 | 56 (highest) |
| Pricing power | 65 | — | 84 | 92 (highest) |
| Returns on capital | — | 56 (highest) | — | 16 |
| Balance-sheet safety | 78 (highest) | 55 | 28 | 3 |
| Capital discipline | 0 | 24 | 24 | 35 (highest) |
| Price vs. high estimate | 36% below high estimate (largest discount to high estimate) | No price data | No price data | 31% below high estimate |
| Market cap | $114.1M | — | $7.3M | $1.2B |
| Moat tier | Shallow moat | Shallow moat | Shallow moat | Shallow moat |
| Filings as of | FY2025 | FY2025 | FY2025 | FY2025 |