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.
MP · 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%.
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%.
| Measure | MP | RES | PRPL | BTU |
|---|---|---|---|---|
| Moat Score (0–100) | 41 (highest) | 41 (highest) | 41 (highest) | 41 (highest) |
| Methodology version | moat-index@2.0.0 | moat-index@2.0.0 | moat-index@2.0.0 | moat-index@2.0.0 |
| Business trend | 53 | 62 | 68 (highest) | 28 |
| Pricing power | — | 25 | 61 (highest) | — |
| Returns on capital | 12 | 22 | 0 | 56 (highest) |
| Balance-sheet safety | 55 | 59 (highest) | 28 | 55 |
| Capital discipline | 44 | 37 | 49 (highest) | 24 |
| Price vs. high estimate | 2901% above high estimate | 27% above high estimate (largest discount to high estimate) | No price data | No price data |
| Market cap | $8.1B | $1.3B | — | — |
| Moat tier | Shallow moat | Shallow moat | Shallow moat | Shallow moat |
| Filings as of | FY2025 | FY2025 | FY2025 | FY2025 |