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.
| Measure | IDR | HNI | REI | EQT |
|---|---|---|---|---|
| Moat Score (0–100) | 44 (highest) | 44 (highest) | 44 (highest) | 44 (highest) |
| Methodology version | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 |
| Business trend | 85 (highest) | 54 | 50 | 67 |
| Pricing power | 0 | 61 | 87 (highest) | 74 |
| Returns on capital | 11 | 46 (highest) | 13 | 4 |
| Balance-sheet safety | 100 (highest) | 40 | 28 | 50 |
| Capital allocation | 24 | 21 | 44 (highest) | 24 |
| 1538% above value if growth stopped today | 223% above value if growth stopped today | 64% below value if growth stopped today (largest discount to value if growth stopped today) | 70% above value if growth stopped today | |
| Market cap | $337M | $3.4B | $272M | $32.7B |
| Moat tier | Shallow moat | Shallow moat | Shallow moat | Shallow moat |
| Filing date | FY2025 | FY2025 | FY2025 | FY2025 |