The Moat Index
Compare moats, side by side.
Two to four companies, scored on the same five investor questions from their SEC filings — so the comparison is apples to apples. The method is fully public.
FRHC · Other · No moat
Doesn't clear the bar
The returnsOnCapital component abstained: Not enough years of ROIC data to score returns on capital. The other four 20% weights were renormalized over the scored 80%.
| Measure | ABIT | WULF | COSG | FRHC |
|---|---|---|---|---|
| Moat Score (0–100) | 39 | 40 (highest) | 40 (highest) | 39 |
| Methodology version | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 |
| Business trend | 0 | 63 (highest) | 20 | 27 |
| Pricing power | 15 | 35 (highest) | 31 | 28 |
| Returns on capital | 83 (highest) | 0 | 12 | — |
| Balance-sheet safety | 55 | 55 | 55 | 78 (highest) |
| Capital allocation | 44 | 44 | 80 (highest) | 25 |
| No price data | No price data | No price data | 306% above value if growth stopped today | |
| Market cap | $18.4M | $6.9B | $275M | $9.3B |
| Moat tier | No moat | No moat | No moat | No moat |
| Filing date | FY2025 | FY2025 | FY2024 | FY2026 |