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.

Wendy's Co

WEN · Consumer Discretionary · Shallow moat

Shallow moat

On the watchlist

HEICO Corporation

HEI · 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

SPORTSMAN’S WAREHOUSE HOLDINGS, INC.

SPWH · Consumer Discretionary · Shallow moat

Shallow moat

Doesn't clear the bar

Measure	WEN	HEI	MHH	SPWH
Moat Score (0–100)	54	55 (highest)	55 (highest)	54
Pricing power	93 (highest)	37	37	56
Returns on capital	35	73	45	82 (highest)
Balance-sheet safety	2	48	100 (highest)	0
Capital discipline	78 (highest)	60	50	64
Margin of safety	45% below value (highest margin of safety)	No price data	32% above value	No price data
Market cap	$1.5B	—	$87.5M	$43.9M
Moat tier	Shallow moat	Shallow moat	Shallow moat	Shallow moat
Filings as of	FY2025	FY2025	FY2025	FY2026

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.