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.
NGTF · Industrials · No 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%.
NNBR · Industrials · 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 | NGTF | FGI | VATE | NNBR |
|---|---|---|---|---|
| Moat Score (0–100) | 17 (highest) | 17 (highest) | 17 (highest) | 16 |
| Methodology version | moat-index@2.0.0 | moat-index@2.0.0 | moat-index@2.0.0 | moat-index@2.0.0 |
| Business trend | 15 | 10 | 51 (highest) | 40 |
| Pricing power | 0 | 30 (highest) | 8 | — |
| Returns on capital | — | 20 (highest) | 0 | 0 |
| Balance-sheet safety | 28 (highest) | 0 | 0 | 0 |
| Capital discipline | 24 (highest) | 24 (highest) | 24 (highest) | 24 (highest) |
| Price vs. high estimate | No price data | 62% below high estimate | No price data | No price data |
| Market cap | $5.2M | $8.1M | $121.1M | $174.7M |
| Moat tier | No moat | No moat | No moat | No moat |
| Filings as of | FY2025 | FY2025 | FY2025 | FY2025 |