The Moat Index
Compare moats, side by side.
Two to four companies, scored on the same four filters from their SEC filings — so the comparison is apples to apples. The method is fully public.
| Measure | ABX | CBOE | NDAQ | HKHC |
|---|---|---|---|---|
| Moat Score (0–100) | 51 | 65 (highest) | 54 | 48 |
| Pricing power | 100 (highest) | 53 | 96 | 43 |
| Returns on capital | 24 | 57 (highest) | 30 | 11 |
| Balance-sheet safety | 9 | 100 (highest) | 19 | 100 (highest) |
| Capital discipline | 60 (highest) | 60 (highest) | 60 (highest) | 60 (highest) |
| Margin of safety | 153% above value | 90% above value (highest margin of safety) | 158% above value | No price data |
| Market cap | $1.0B | $28.6B | $52.2B | $522.2M |
| Moat tier | Shallow moat | Narrow moat | Shallow moat | Shallow moat |
| Filings as of | FY2025 | FY2025 | FY2025 | FY2025 |