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.

SPORTSMAN’S WAREHOUSE HOLDINGS, INC.

SPWH · Consumer Discretionary · Shallow moat

Shallow moat

Doesn't clear the bar

MASTECH DIGITAL, INC.

MHH · Consumer Discretionary · Shallow moat

Shallow moat

Doesn't clear the bar

Wendy's Co

WEN · Consumer Discretionary · Shallow moat

Shallow moat

On the watchlist

TILE SHOP HOLDINGS, INC.

TTSH · Consumer Discretionary · Shallow moat

Shallow moat

On the watchlist

Measure	SPWH	MHH	WEN	TTSH
Moat Score (0–100)	54	55 (highest)	54	54
Pricing power	56	37	93	99 (highest)
Returns on capital	82 (highest)	45	35	32
Balance-sheet safety	0	100 (highest)	2	35
Capital discipline	64	50	78 (highest)	40
Margin of safety	No price data	32% above value	45% below value (highest margin of safety)	36% below value
Market cap	$43.9M	$87.5M	$1.5B	$113.9M
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.