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 | PWR | NWPX | GEV | AXON |
|---|---|---|---|---|
| Moat Score (0–100) | 49 | 50 (highest) | 50 (highest) | 49 |
| Methodology version | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 |
| Business trend | 100 (highest) | 95 | 82 | 80 |
| Pricing power | 27 | 3 | 10 | 100 (highest) |
| Returns on capital | 12 (highest) | 10 | 9 | 7 |
| Balance-sheet safety | 35 | 96 | 100 (highest) | 0 |
| Capital discipline | 73 (highest) | 44 | 47 | 60 |
| Price vs. high estimate | 463% above high estimate | 121% above high estimate (largest discount to high estimate) | 2933% above high estimate | 2368% above high estimate |
| Market cap | $93.6B | $1.2B | $273.5B | $40.3B |
| Moat tier | Shallow moat | Shallow moat | Shallow moat | Shallow moat |
| Filings as of | FY2025 | FY2025 | FY2025 | FY2025 |