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.
REPX · Materials · Shallow 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%.
AR · Materials · 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 | REPX | NOG | NCSM | AR |
|---|---|---|---|---|
| Moat Score (0–100) | 54 (highest) | 54 (highest) | 54 (highest) | 53 |
| Methodology version | moat-index@2.0.0 | moat-index@2.0.0 | moat-index@2.0.0 | moat-index@2.0.0 |
| Business trend | 69 | 88 (highest) | 44 | 72 |
| Pricing power | — | 92 (highest) | 64 | — |
| Returns on capital | 55 (highest) | 39 | 0 | 4 |
| Balance-sheet safety | 47 | 28 | 100 (highest) | 90 |
| Capital discipline | 44 | 24 | 60 (highest) | 48 |
| Price vs. high estimate | 39% below high estimate (largest discount to high estimate) | No price data | 341% above high estimate | 210% above high estimate |
| Market cap | $760.2M | $2.1B | $106.8M | $10.3B |
| Moat tier | Shallow moat | Shallow moat | Shallow moat | Shallow moat |
| Filings as of | FY2025 | FY2025 | FY2025 | FY2025 |