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 | TNC | HWKN | CXT | SPRS |
|---|---|---|---|---|
| Moat Score (0–100) | 57 | 58 (highest) | 57 | 56 |
| Pricing power | 69 (highest) | 28 | 40 | 19 |
| Returns on capital | 50 | 56 | 69 | 71 (highest) |
| Balance-sheet safety | 66 | 81 | 65 | 100 (highest) |
| Capital discipline | 40 | 80 (highest) | 59 | 44 |
| Margin of safety | 204% above value | 121% above value | 13% above value (highest margin of safety) | 79% above value |
| Market cap | $1.5B | $3.0B | $2.9B | $22.6M |
| Moat tier | Shallow moat | Shallow moat | Shallow moat | Shallow moat |
| Filings as of | FY2025 | FY2026 | FY2025 | FY2025 |