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.
MRTN · 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%.
HLMN · 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%.
KRFG · 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%.
| Measure | MRTN | HLMN | KRFG | RCL |
|---|---|---|---|---|
| Moat Score (0–100) | 45 | 46 (highest) | 45 | 45 |
| Methodology version | moat-index@2.0.0 | moat-index@2.0.0 | moat-index@2.0.0 | moat-index@2.0.0 |
| Business trend | 46 | 73 | 58 | 84 (highest) |
| Pricing power | — | — | 45 (highest) | 45 (highest) |
| Returns on capital | 35 (highest) | 0 | — | 16 |
| Balance-sheet safety | 100 (highest) | 65 | 55 | 20 |
| Capital discipline | 0 | 44 | 24 | 60 (highest) |
| Price vs. high estimate | 82% above high estimate (largest discount to high estimate) | 209% above high estimate | No price data | 311% above high estimate |
| Market cap | $1.4B | $1.6B | $2.8M | $77.4B |
| Moat tier | Shallow moat | Shallow moat | Shallow moat | Shallow moat |
| Filings as of | FY2025 | FY2025 | FY2026 | FY2025 |