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.
NELR · 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%.
HWM · 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%.
| Measure | NELR | ALH | HWM | FLS |
|---|---|---|---|---|
| Moat Score (0–100) | 58 | 59 (highest) | 59 (highest) | 58 |
| Methodology version | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 |
| Business trend | 60 | 90 | 100 (highest) | 95 |
| Pricing power | 70 (highest) | 62 | — | 51 |
| Returns on capital | — | 100 (highest) | 25 | 25 |
| Balance-sheet safety | 78 (highest) | 28 | 65 | 40 |
| Capital allocation | 24 | 15 | 44 | 77 (highest) |
| No price data | 216% above value if growth stopped today (largest discount to value if growth stopped today) | 1178% above value if growth stopped today | 308% above value if growth stopped today | |
| Market cap | Not reported | $5.1B | $116.2B | $9.2B |
| Moat tier | Shallow moat | Shallow moat | Shallow moat | Shallow moat |
| Filing date | FY2025 | FY2025 | FY2025 | FY2025 |