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.
UNP · Industrials · Narrow moat
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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 | UNP | NVT | MCK | DOV |
|---|---|---|---|---|
| Moat Score (0–100) | 67 | 68 (highest) | 68 (highest) | 67 |
| Methodology version | moat-index@2.0.0 | moat-index@2.0.0 | moat-index@2.0.0 | moat-index@2.0.0 |
| Business trend | 75 | 83 | 90 (highest) | 59 |
| Pricing power | — | 67 (highest) | 16 | 64 |
| Returns on capital | 81 | 13 | 85 (highest) | 58 |
| Balance-sheet safety | 35 | 78 | 95 (highest) | 68 |
| Capital discipline | 79 | 97 (highest) | 52 | 86 |
| Price vs. high estimate | 45% above high estimate | 405% above high estimate | 173% above high estimate | 26% above high estimate (largest discount to high estimate) |
| Market cap | $175.7B | $25.0B | $99.9B | $28.3B |
| Moat tier | Narrow moat | Narrow moat | Narrow moat | Narrow moat |
| Filings as of | FY2025 | FY2025 | FY2026 | FY2025 |