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.
NSC · Industrials · Narrow moat
On the watchlist
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%.
UPS · Industrials · Narrow moat
On the watchlist
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 | NSC | UPS | FDX | ZBRA |
|---|---|---|---|---|
| Moat Score (0–100) | 69 | 70 (highest) | 69 | 68 |
| Methodology version | moat-index@2.0.0 | moat-index@2.0.0 | moat-index@2.0.0 | moat-index@2.0.0 |
| Business trend | 67 | 74 | 87 (highest) | 74 |
| Pricing power | — | — | 100 (highest) | 79 |
| Returns on capital | 93 | 100 (highest) | 34 | 44 |
| Balance-sheet safety | 36 | 46 | 47 | 63 (highest) |
| Capital discipline | 80 (highest) | 57 | 78 | 80 (highest) |
| Price vs. high estimate | 45% above high estimate (largest discount to high estimate) | No price data | 52% above high estimate | No price data |
| Market cap | $75.2B | — | $72.4B | — |
| Moat tier | Narrow moat | Narrow moat | Narrow moat | Narrow moat |
| Filings as of | FY2025 | FY2025 | FY2026 | FY2025 |