San Juan Basin Royalty Trust operates as an express trust in Texas. The company has a 75% net overriding royalty interest in Southland's oil and natural gas interests in properties located in the San Juan Basin in northwestern New Mexico. It also owns subject interests consist of working interests, royalty interests, overriding royalty interests, and other contractual rights in 119,000 …
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Competitive advantage assessment
Key strengths
Margins Consistently Above PeersGross margin at 101.2% (top 1%) and operating margin at 73.0% (top 8%) indicate strong pricing power.
Margins Stable Across CyclesOperating margin volatility is low (stability score 0.72), demonstrating pricing resilience across cycles.
Key risks
ROIC Below WACC or PeersROIC at 2.6th percentile suggests inefficient capital deployment.
Revenue Volatility Signals Weak StickinessRevenue volatility is high (stability score 0.07), 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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San Juan Basin Royalty Trust ranks #44 of 93
scored companies in Oil & Gas E&P by moat score — the top 47%.
The widest moat in the group is Texas Pacific Land Corporation (TPL)
at 84/100.
Moat scores for companies ranked near SJT 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 7
· 15% of the moat score
Stickiness is what makes revenue repeat without being re-won every year.
Capital Efficiency
Score 6
· 18% of the moat score
Capital efficiency asks what the company earns on the money tied up in the business.
Resilience
Score 1
· 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 84
· 15% of the moat score
Scale matters only when it converts into economics.
What is San Juan Basin Royalty Trust's moat score?
San Juan Basin Royalty Trust (SJT) scores 49 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as developing. It ranks #44 of 93 scored companies in Oil & Gas E&P, the top 47%. 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 Pricing Power (86/100) and its weakest is Resilience (1/100).
How does San Juan Basin Royalty Trust compare with other Oil & Gas E&P companies?
San Juan Basin Royalty Trust ranks #44 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 Murphy Oil Corporation (MUR) at 49 just above it and Diversified Energy Company plc (DEC) at 48 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 San Juan Basin 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 San Juan Basin Royalty Trust?
The Corporate Default template measures 6 defenses, and SJT scores: Pricing Power (86), Cost Advantage (54), Customer Stickiness (7), Capital Efficiency (6), Resilience (1), Scale & Market Position (84). 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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