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.
BKV · Materials · No 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 | NC | CEIN | BKV | SMG |
|---|---|---|---|---|
| Moat Score (0–100) | 30 | 31 (highest) | 30 | 30 |
| Methodology version | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 |
| Business trend | 54 | 63 (highest) | 13 | 25 |
| Pricing power | 0 | 18 | — | 36 (highest) |
| Returns on capital | 49 | 0 | 19 | 57 (highest) |
| Balance-sheet safety | 45 | 28 | 90 (highest) | 2 |
| Capital allocation | 2 | 44 (highest) | 0 | 28 |
| 7% below value if growth stopped today (largest discount to value if growth stopped today) | No price data | 36% above value if growth stopped today | No price data | |
| Market cap | $350M | Not reported | $2.5B | $4.0B |
| Moat tier | No moat | No moat | No moat | No moat |
| Filing date | FY2025 | FY2025 | FY2025 | FY2025 |