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 | AD | LUMN | SPIR | ROKU |
|---|---|---|---|---|
| Moat Score (0–100) | 31 | 33 (highest) | 32 | 31 |
| Pricing power | 75 | 82 (highest) | 39 | 64 |
| Returns on capital | 0 | 0 | 0 | 4 (highest) |
| Balance-sheet safety | 28 | 0 | 55 (highest) | 28 |
| Capital discipline | 17 | 44 (highest) | 44 (highest) | 24 |
| Margin of safety | 349% above value | No price data | No price data | No price data |
| Market cap | $3.0B | $6.4B | $387.9M | $21.4B |
| Moat tier | No moat | No moat | No moat | No moat |
| Filings as of | FY2025 | FY2025 | FY2025 | FY2025 |