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.
ANNA · Materials · 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 | NOG | ANNA | HL | VAL |
|---|---|---|---|---|
| Moat Score (0–100) | 51 | 52 (highest) | 52 (highest) | 51 |
| Methodology version | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 |
| Business trend | 75 | 85 (highest) | 85 (highest) | 85 (highest) |
| Pricing power | 92 (highest) | — | 11 | 0 |
| Returns on capital | 39 (highest) | 0 | 4 | 8 |
| Balance-sheet safety | 28 | 100 (highest) | 100 (highest) | 100 (highest) |
| Capital allocation | 24 | 24 | 60 (highest) | 60 (highest) |
| No price data | No price data | No price data | 20% below value if growth stopped today | |
| Market cap | $2.1B | $135M | Not reported | $5.5B |
| Moat tier | Shallow moat | Shallow moat | Shallow moat | Shallow moat |
| Filing date | FY2025 | FY2025 | FY2025 | FY2025 |