The Moat Index

Compare moats, side by side.

Two to four companies, scored on the same four filters from their SEC filings — so the comparison is apples to apples. The method is fully public.

Reservoir Media, Inc.

RSVR · Communications · Shallow moat

Shallow moat

Doesn't clear the bar

Calix, Inc

CALX · Communications · Shallow moat

Shallow moat

Doesn't clear the bar

TELEPHONE AND DATA SYSTEMS, INC.

TDS · Communications · Shallow moat

Shallow moat

Doesn't clear the bar

Warner Bros. Discovery, Inc.

WBD · Communications · Shallow moat

Shallow moat

Doesn't clear the bar

Measure	RSVR	CALX	TDS	WBD
Moat Score (0–100)	47	49 (highest)	48	46
Pricing power	98	72	100 (highest)	100 (highest)
Returns on capital	5	7 (highest)	0	7 (highest)
Balance-sheet safety	0	100 (highest)	51	0
Capital discipline	80 (highest)	24	37	70
Margin of safety	17% above value (highest margin of safety)	706% above value	No price data	67% above value
Market cap	$670.5M	$2.6B	$3.9B	$66.6B
Moat tier	Shallow moat	Shallow moat	Shallow moat	Shallow moat
Filings as of	FY2026	FY2025	FY2025	FY2025

Scores reflect business quality, not buy/sell signals. Educational only — not investment advice, and not a recommendation on any company shown. See the methodology and disclaimer.