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.
KEX · 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 | SKAS | KEX | STLD | LMB |
|---|---|---|---|---|
| Moat Score (0–100) | 56 (highest) | 56 (highest) | 56 (highest) | 56 (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 | 25 | 85 | 24 | 94 (highest) |
| Pricing power | 62 (highest) | — | 5 | 4 |
| Returns on capital | 80 (highest) | 0 | 76 | 35 |
| Balance-sheet safety | 55 | 62 | 77 | 85 (highest) |
| Capital allocation | 55 | 77 | 97 (highest) | 60 |
| 52% below value if growth stopped today (largest discount to value if growth stopped today) | 222% above value if growth stopped today | 32% above value if growth stopped today | 185% above value if growth stopped today | |
| Market cap | $6.7M | $8.0B | $35.8B | $846M |
| Moat tier | Shallow moat | Shallow moat | Shallow moat | Shallow moat |
| Filing date | FY2025 | FY2025 | FY2025 | FY2025 |