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.

HEICO Corporation

HEI · Consumer Discretionary · Shallow moat

Shallow moat

Doesn't clear the bar

LOCKHEED MARTIN CORPORATION

LMT · Consumer Discretionary · Shallow moat

Shallow moat

Doesn't clear the bar

Travel & Leisure Co.

TNL · Consumer Discretionary · Shallow moat

Shallow moat

Doesn't clear the bar

MASTECH DIGITAL, INC.

MHH · Consumer Discretionary · Shallow moat

Shallow moat

Doesn't clear the bar

Measure	HEI	LMT	TNL	MHH
Moat Score (0–100)	55	56 (highest)	55	55
Pricing power	37	20	100 (highest)	37
Returns on capital	73	100 (highest)	57	45
Balance-sheet safety	48	42	1	100 (highest)
Capital discipline	60 (highest)	56	40	50
Margin of safety	No price data	83% above value	3% below value (highest margin of safety)	32% above value
Market cap	—	$116.5B	$4.6B	$87.5M
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.