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.
| Measure | TLS | DFLI | TBRG | BHE |
|---|---|---|---|---|
| Moat Score (0–100) | 28 (highest) | 28 (highest) | 28 (highest) | 28 (highest) |
| Pricing power | 59 | 28 | 85 (highest) | 24 |
| Returns on capital | 0 | 0 | 3 (highest) | 3 (highest) |
| Balance-sheet safety | 28 | 55 | 0 | 59 (highest) |
| Capital discipline | 24 | 44 (highest) | 8 | 40 |
| Margin of safety | No price data | No price data | No price data | 265% above value |
| Market cap | $344.2M | $17.6M | — | $2.8B |
| Moat tier | No moat | No moat | No moat | No moat |
| Filings as of | FY2025 | FY2025 | FY2025 | FY2025 |