← All Moat Types
⚙️
Cost Advantage Moat
41 companies · Ranked by earnings quality
A cost-advantage moat comes from scale (Walmart, Costco), unique resource access (low-cost ore bodies, shale acreage), or a process others can't replicate (Toyota production system). It shows up as durably higher margins in a commodity-like category.
| Company | Score | GM | ROE | CF/NI | FCF | Other Moats |
|---|---|---|---|---|---|---|
| BRK-BBERKSHIRE HATHAWAY INC2025 | B85 | — | 9.3% | 0.69x | $25.0B | — |
| FASTFastenal2025 | B83 | 45.0% | 31.9% | 1.03x | $1.1B | Switching Costs |
| COSTCOSTCO WHOLESALE CORP2025 | B83 | 12.8% | 27.8% | 1.65x | $7.8B | Brand Power |
| TXNTEXAS INSTRUMENTS INC2025 | B81 | 57.0% | 30.7% | 1.43x | $2.6B | Efficient Scale |
| WMTWalmart Inc.2025 | B80 | 24.9% | 21.4% | 1.88x | $12.7B | Efficient Scale |
| ROSTRoss Stores2025 | C79 | 27.8% | 37.9% | 1.13x | $1.6B | — |
| CEGConstellation Energy2025 | C77 | — | 16.0% | 1.83x | $1.3B | Efficient Scale |
| TMUST-MOBILE US INC2025 | C77 | — | 18.6% | 2.54x | $18.0B | Efficient Scale |
| TMOTHERMO FISHER SCIENTIFIC INC.2025 | C76 | — | 12.6% | 1.17x | $6.3B | Switching Costs |
| ODFLOld Dominion Freight Line2025 | C76 | — | 23.7% | 1.34x | $955M | — |
| VMCVULCAN MATERIALS COMPANY2025 | C76 | 27.4% | 12.6% | 1.68x | $1.1B | Efficient Scale |
| NVDANVIDIA CORP2025 | C73 | 71.1% | 76.3% | 0.86x | $96.7B | Switching Costs |
| UNHUNITEDHEALTH GROUP INCORPORATED2025 | C73 | 88.7% | 12.0% | 1.63x | $16.1B | Efficient Scale |
| BACBank of America Corporation2025 | C73 | — | 10.1% | 0.41x | $12.6B | Efficient Scale |
| JPMJPMorgan Chase & Co2025 | C72 | — | 15.7% | -2.59x | $-147.8B | Efficient Scale |
| SCHWSCHWAB CHARLES CORP2025 | C72 | — | 17.9% | 1.05x | $8.8B | Switching Costs |
| COPConocoPhillips2025 | C71 | 62.1% | 12.4% | 2.48x | $19.8B | — |
| AMATApplied Materials2025 | C70 | 48.7% | 34.3% | 1.14x | $5.7B | Switching Costs |
| XOMEXXON MOBIL CORP2025 | C70 | — | 11.1% | 1.80x | $23.6B | Efficient Scale |
| CBCHUBB LIMITED2025 | D69 | — | 14.0% | 1.24x | $12.8B | Brand Power |
| UPSUnited Parcel Service, Inc.2025 | D69 | — | 34.3% | 1.52x | $4.8B | Efficient Scale |
| ILMNIllumina2025 | D68 | 66.1% | 31.2% | 1.27x | $931M | Switching Costs |
| TRVThe Travelers Companies, Inc.2025 | D68 | — | 19.1% | 1.69x | $10.6B | Brand Power |
| EOGEOG RESOURCES, INC.2025 | D68 | — | 16.7% | 2.02x | $10.0B | — |
| MLMMARTIN MARIETTA MATERIALS, INC2025 | D68 | 30.7% | 11.3% | 1.57x | $978M | Efficient Scale |
| PDDPDD Holdings2024 | D65 | 60.9% | 35.9% | 1.08x | $16.7B | Network Effects |
| CVXChevron Corporation2025 | D65 | 42.8% | 6.6% | 2.76x | $16.6B | — |
| VLOVALERO ENERGY CORP/TX2025 | D63 | 4.4% | 9.9% | 2.48x | $5.8B | — |
| JDJD.com2025 | D62 | 15.9% | 17.3% | 1.40x | $7.2B | Efficient Scale |
| TSLATesla, Inc.2025 | D60 | 18.0% | 4.6% | 3.89x | $6.2B | Brand Power |
| NEMNEWMONT CORPORATION2025 | D60 | — | 20.9% | 1.46x | $7.3B | — |
| NETCloudflare, Inc.2025 | F59 | 74.5% | -7.0% | -5.90x | $287M | Network Effects |
| FCXFreeport-McMoRan Inc.2025 | F59 | 28.2% | 11.7% | 2.55x | $1.1B | — |
| BURLBURLINGTON STORES, INC.2025 | F57 | 43.3% | 36.7% | 1.71x | $-17M | — |
| FANGDiamondback Energy2025 | F57 | — | 4.5% | 5.26x | $8.8B | — |
| PSXPhillips 662025 | F56 | 12.3% | 15.1% | 1.13x | $5.0B | — |
| GFSGlobalFoundries2025 | F53 | — | — | — | — | Efficient Scale |
| OXYOCCIDENTAL PETROLEUM CORP /DE/2025 | F53 | — | 4.5% | 6.53x | $4.1B | — |
| MPCMarathon Petroleum Corporation2025 | F52 | 10.0% | 23.4% | 2.04x | $4.8B | — |
| DDDuPont de Nemours, Inc.2025 | F46 | 34.5% | -5.6% | — | $-333M | — |
| DOWDow Inc.2025 | F40 | 6.3% | -16.4% | -0.39x | $-1.4B | — |
The "Other Moats" column shows additional moats each company carries beyond this one. Multiple moats compound multiplicatively, not additively.