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.
SPND · 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 | SPND | NESR | COTY | CITR |
|---|---|---|---|---|
| Moat Score (0–100) | 32 | 33 (highest) | 33 (highest) | 32 |
| Methodology version | moat-index@2.0.0 | moat-index@2.0.0 | moat-index@2.0.0 | moat-index@2.0.0 |
| Business trend | 20 | 85 (highest) | 40 | 50 |
| Pricing power | — | 18 | 99 (highest) | 52 |
| Returns on capital | 0 | 9 (highest) | 0 | 0 |
| Balance-sheet safety | 55 (highest) | 47 | 0 | 28 |
| Capital discipline | 54 (highest) | 5 | 24 | 29 |
| Price vs. high estimate | No price data | 185% above high estimate | 20% below high estimate (largest discount to high estimate) | No price data |
| Market cap | $18.9M | $2.7B | $2.4B | $84.3M |
| Moat tier | No moat | No moat | No moat | No moat |
| Filings as of | FY2025 | FY2025 | FY2025 | FY2025 |