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.
NPK · Industrials · Shallow moat
Doesn't clear the bar
The businessTrend component abstained: Fewer than two aligned fiscal years of revenue and diluted EPS are available; the filing history does not contain a measurable trend. The other four 20% weights were renormalized over the scored 80%.
PANL · Industrials · 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 | RCL | NPK | SKYW | PANL |
|---|---|---|---|---|
| Moat Score (0–100) | 45 (highest) | 45 (highest) | 45 (highest) | 45 (highest) |
| Methodology version | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 |
| Business trend | 85 | — | 90 (highest) | 29 |
| Pricing power | 45 (highest) | 25 | 0 | — |
| Returns on capital | 16 | 37 | 3 | 39 (highest) |
| Balance-sheet safety | 20 | 100 (highest) | 33 | 55 |
| Capital discipline | 60 | 20 | 100 (highest) | 57 |
| Price vs. high estimate | 321% above high estimate | 141% above high estimate | 29% below high estimate (largest discount to high estimate) | 5% above high estimate |
| Market cap | $79.4B | $886M | $4.2B | $498M |
| Moat tier | Shallow moat | Shallow moat | Shallow moat | Shallow moat |
| Filings as of | FY2025 | FY2025 | FY2025 | FY2025 |