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.
SDRL · Materials · No 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%.
NGS · Materials · No 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%.
EP · Materials · No 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 | SDRL | APD | NGS | EP |
|---|---|---|---|---|
| Moat Score (0–100) | 36 | 37 (highest) | 37 (highest) | 36 |
| Methodology version | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 |
| Business trend | 24 | 53 | 85 (highest) | 41 |
| Pricing power | — | 51 | — | — |
| Returns on capital | 37 | 41 (highest) | 0 | 4 |
| Balance-sheet safety | 42 | 0 | 29 | 55 (highest) |
| Capital allocation | 43 | 39 | 32 | 44 (highest) |
| 16% below value if growth stopped today (largest discount to value if growth stopped today) | 164% above value if growth stopped today | 769% above value if growth stopped today | No price data | |
| Market cap | $2.8B | $66.3B | $459M | $88.9M |
| Moat tier | No moat | No moat | No moat | No moat |
| Filing date | FY2025 | FY2025 | FY2025 | FY2025 |