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.
EXP · Materials · Narrow moat
Wonderful & reasonably priced
The balanceSheet component abstained: Insufficient leverage/coverage inputs to score the balance sheet. The other four 20% weights were renormalized over the scored 80%.
| Measure | PNRG | CVCO | EXP | NEU |
|---|---|---|---|---|
| Moat Score (0–100) | 75 | 76 (highest) | 75 | 74 |
| Methodology version | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 |
| Business trend | 80 | 73 | 90 (highest) | 82 |
| Pricing power | 98 (highest) | 36 | 43 | 41 |
| Returns on capital | 18 | 100 (highest) | 84 | 96 |
| Balance-sheet safety | 78 (highest) | 73 | — | 68 |
| Capital allocation | 100 (highest) | 100 (highest) | 82 | 84 |
| 2% below value if growth stopped today (largest discount to value if growth stopped today) | 108% above value if growth stopped today | 30% above value if growth stopped today | 57% above value if growth stopped today | |
| Market cap | $306M | $4.4B | $6.7B | $7.3B |
| Moat tier | Narrow moat | Narrow moat | Narrow moat | Narrow moat |
| Filing date | FY2025 | FY2026 | FY2026 | FY2025 |