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.
| Measure | NL | ROG | GPK | NPO |
|---|---|---|---|---|
| Moat Score (0–100) | 39 (highest) | 39 (highest) | 39 (highest) | 38 |
| Methodology version | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 |
| Business trend | 36 | 18 | 74 (highest) | 56 |
| Pricing power | 52 | 57 (highest) | 23 | 57 (highest) |
| Returns on capital | 4 | 16 | 18 (highest) | 0 |
| Balance-sheet safety | 57 (highest) | 55 | 5 | 34 |
| Capital allocation | 43 | 46 | 73 (highest) | 46 |
| 12% below value if growth stopped today | 295% above value if growth stopped today | 57% below value if growth stopped today (largest discount to value if growth stopped today) | 290% above value if growth stopped today | |
| Market cap | $332M | $2.5B | $2.5B | $6.2B |
| Moat tier | No moat | No moat | No moat | No moat |
| Filing date | FY2025 | FY2025 | FY2025 | FY2025 |