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.
ULCC · Industrials · 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 | ULCC | FET | QXO | PPIH |
|---|---|---|---|---|
| Moat Score (0–100) | 35 (highest) | 35 (highest) | 35 (highest) | 35 (highest) |
| Methodology version | moat-index@2.0.0 | moat-index@2.0.0 | moat-index@2.0.0 | moat-index@2.0.0 |
| Business trend | 54 | 37 | 59 (highest) | 36 |
| Pricing power | — | 15 | 56 (highest) | 13 |
| Returns on capital | 6 | 0 | 8 | 36 (highest) |
| Balance-sheet safety | 55 | 78 (highest) | 28 | 57 |
| Capital discipline | 24 | 44 (highest) | 24 | 30 |
| Price vs. high estimate | No price data | 577% above high estimate | 1247427% above high estimate | 87% above high estimate (largest discount to high estimate) |
| Market cap | $1.4B | $594.8M | $9.1B | $202.8M |
| Moat tier | No moat | No moat | No moat | No moat |
| Filings as of | FY2025 | FY2025 | FY2025 | FY2026 |