I find these two images quite interesting, especially when looked at at the same time.
This image shows that the probability of maintaining business quality over time is high. 70% of companies that had a greater than 25% ROIC in 2007 were able to maintain it throughout the next decade.
The image below shows that the probability of maintaining high growth is low. Only 15% of companies that were growing at 15% rates were able to maintain that growth into the next decade:
Moats are important but so are markets that allow for incremental growth to take advantage of this moat.