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.
MRTN · 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 | WS | NOV | NPWR | MRTN |
|---|---|---|---|---|
| Moat Score (0–100) | 38 (highest) | 38 (highest) | 38 (highest) | 38 (highest) |
| Methodology version | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 |
| Business trend | 13 | 75 (highest) | 20 | 15 |
| Pricing power | 15 | 1 | 70 (highest) | — |
| Returns on capital | 48 (highest) | 0 | 0 | 35 |
| Balance-sheet safety | 93 | 61 | 55 | 100 (highest) |
| Capital allocation | 19 | 53 (highest) | 44 | 0 |
| 21% above value if growth stopped today (largest discount to value if growth stopped today) | 179% above value if growth stopped today | No price data | 70% above value if growth stopped today | |
| Market cap | $1.8B | $7.5B | Not reported | $1.3B |
| Moat tier | No moat | No moat | No moat | No moat |
| Filing date | FY2025 | FY2025 | FY2025 | FY2025 |