The Moat Index
Compare moats, side by side.
Two to four companies, scored on the same four filters from their SEC filings — so the comparison is apples to apples. The method is fully public.
| Measure | NOG | OEC | APOG | TTI |
|---|---|---|---|---|
| Moat Score (0–100) | 44 (highest) | 44 (highest) | 44 (highest) | 43 |
| Pricing power | 92 (highest) | 37 | 36 | 5 |
| Returns on capital | 39 | 48 | 45 | 68 (highest) |
| Balance-sheet safety | 0 | 40 | 45 | 84 (highest) |
| Capital discipline | 24 | 55 (highest) | 53 | 24 |
| Margin of safety | No price data | 67% below value (highest margin of safety) | 49% below value | 333% above value |
| Market cap | $2.1B | $384.7M | $870.7M | $1.2B |
| Moat tier | Shallow moat | Shallow moat | Shallow moat | Shallow moat |
| Filings as of | FY2025 | FY2025 | FY2026 | FY2025 |