Sabine Royalty Trust holds royalty and mineral interests in various producing oil and gas properties in the United States. Its royalty and mineral interests include landowner's royalties, overriding royalty interests, minerals, production payments, and other similar non-participatory interest in certain producing and proved undeveloped oil and gas properties located in Florida, Louisiana, Mississippi, New Mexico, Oklahoma, and Texas. The company …
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Competitive advantage assessment
Key strengths
Margins Stable Across CyclesOperating margin volatility is low (stability score 0.90), demonstrating pricing resilience across cycles.
Cost Leadership PositionOperating margin at 100.0th percentile with strong OpEx control demonstrates cost leadership.
Key risks
Revenue Volatility Signals Weak StickinessRevenue volatility is high (stability score 0.22), suggesting weak customer stickiness.
ROIC Below WACC or PeersROIC at 0th percentile suggests inefficient capital deployment.
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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Sabine Royalty Trust ranks #3 of 56
scored companies in Oil & Gas Midstream by moat score — the top 5%.
The widest moat in the group is Hess Midstream LP (HESM)
at 84/100.
Moat scores for companies ranked near SBR in Oil & Gas Midstream
Pricing power is the ability to raise prices without losing volume.
Cost Advantage
Score 74
· 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 22
· 15% of the moat score
Stickiness is what makes revenue repeat without being re-won every year.
Capital Efficiency
Score 80
· 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 70
· 15% of the moat score
Scale matters only when it converts into economics.
Sabine Royalty Trust (SBR) scores 77 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as strong. It ranks #3 of 56 scored companies in Oil & Gas Midstream, the top 5%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 67 companies in Oil & Gas Midstream. Its strongest defense is Resilience (97/100) and its weakest is Customer Stickiness (22/100).
How does Sabine Royalty Trust compare with other Oil & Gas Midstream companies?
Sabine Royalty Trust ranks #3 of 56 scored companies in Oil & Gas Midstream by moat score. The widest moat in Oil & Gas Midstream is Hess Midstream LP (HESM) at 84/100. The companies ranked closest are MPLX LP (MPLX) at 77 just above it and Antero Midstream Corporation (AM) at 77 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 67 companies in Oil & Gas Midstream. The defenses are then weighted to produce the overall score out of 100.
Why is Sabine 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 Sabine Royalty Trust?
The Corporate Default template measures 6 defenses, and SBR scores: Pricing Power (96), Cost Advantage (74), Customer Stickiness (22), Capital Efficiency (80), Resilience (97), Scale & Market Position (70). 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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