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.
NGS · 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%.
SDRL · 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 | NGS | JHIUF | APD | SDRL |
|---|---|---|---|---|
| Moat Score (0–100) | 37 (highest) | 37 (highest) | 37 (highest) | 36 |
| 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) | 50 | 53 | 24 |
| Pricing power | — | 64 (highest) | 51 | — |
| Returns on capital | 0 | 70 (highest) | 41 | 37 |
| Balance-sheet safety | 29 | 0 | 0 | 42 (highest) |
| Capital allocation | 32 | 0 | 39 | 43 (highest) |
| 641% above value if growth stopped today | 215% above value if growth stopped today | 166% above value if growth stopped today | 11% below value if growth stopped today (largest discount to value if growth stopped today) | |
| Market cap | $391M | $14.8B | $66.7B | $3.0B |
| Moat tier | No moat | No moat | No moat | No moat |
| Filing date | FY2025 | FY2026 | FY2025 | FY2025 |