Mesa Royalty Trust owns overriding royalty interests in various oil and gas producing properties in the United States. It holds interests in properties located in the Hugoton field of Kansas; and the San Juan Basin field of northwestern New Mexico and southwestern Colorado. Mesa Royalty Trust was founded in 1979 and is based in Houston, Texas.
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Competitive advantage assessment
Key strengths
Consistent Cash GenerationCash generation is strong and consistent (score 0.94).
Margins Consistently Above PeersGross margin at 99.1% (top 9%) and operating margin at 71.4% (top 10%) indicate strong pricing power.
Key risks
ROIC Below WACC or PeersROIC at 0th percentile suggests inefficient capital deployment.
Revenue Volatility Signals Weak StickinessRevenue volatility is high (stability score 0.08), suggesting weak customer stickiness.
The dashed ring is the peer median. Defense scores are percentile ranks
against peers, so 50 is roughly the typical company in this group.
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Mesa Royalty Trust ranks #11 of 93
scored companies in Oil & Gas E&P by moat score — the top 12%.
The widest moat in the group is Texas Pacific Land Corporation (TPL)
at 84/100.
Moat scores for companies ranked near MTR in Oil & Gas E&P
Pricing power is the ability to raise prices without losing volume.
Cost Advantage
Score 54
· 15% of the moat score
A cost advantage means delivering the same product for structurally less — better purchasing, denser distribution, a more automated process.
Customer Stickiness
Score 60
· 15% of the moat score
Stickiness is what makes revenue repeat without being re-won every year.
Capital Efficiency
Score 61
· 18% of the moat score
Capital efficiency asks what the company earns on the money tied up in the business.
Resilience
Score 97
· 17% of the moat score
Resilience is the capacity to get through a bad year on its own terms — enough liquidity, enough interest cover, and enough cash generation to avoid a rescue financing or a forced sale.
Scale & Market Position
Score 74
· 15% of the moat score
Scale matters only when it converts into economics.
Mesa Royalty Trust (MTR) scores 70 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as moderate. It ranks #11 of 93 scored companies in Oil & Gas E&P, the top 12%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 92 companies in Oil & Gas E&P. Its strongest defense is Resilience (97/100) and its weakest is Cost Advantage (54/100).
How does Mesa Royalty Trust compare with other Oil & Gas E&P companies?
Mesa Royalty Trust ranks #11 of 93 scored companies in Oil & Gas E&P by moat score. The widest moat in Oil & Gas E&P is Texas Pacific Land Corporation (TPL) at 84/100. The companies ranked closest are MV Oil Trust (MVO) at 70 just above it and CKX Lands, Inc. (CKX) at 70 just below it.
How is the moat score calculated?
Each company is scored with an industry-specific template — Corporate Default in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 92 companies in Oil & Gas E&P. The defenses are then weighted to produce the overall score out of 100.
Why is Mesa Royalty Trust scored with the Corporate Default template?
Most public companies sell a product or a service at a margin, so the moat question is whether that margin survives contact with competitors. The Corporate template scores the six defenses that show up in a general operating company's financial signature: whether it can hold price, produce more cheaply than rivals, keep its customers, earn a return above its cost of capital, withstand a downturn, and turn size into economics.
Which competitive defenses are measured for Mesa Royalty Trust?
The Corporate Default template measures 6 defenses, and MTR scores: Pricing Power (81), Cost Advantage (54), Customer Stickiness (60), Capital Efficiency (61), Resilience (97), Scale & Market Position (74). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.
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