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.
| Measure | ADBE | QLYS | FFIV | MANH |
|---|---|---|---|---|
| Moat Score (0–100) | 95 (highest) | 95 (highest) | 95 (highest) | 94 |
| Methodology version | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 |
| Business trend | 100 (highest) | 100 (highest) | 89 | 100 (highest) |
| Pricing power | 100 (highest) | 100 (highest) | 100 (highest) | 91 |
| Returns on capital | 100 (highest) | 97 | 100 (highest) | 100 (highest) |
| Balance-sheet safety | 73 | 100 (highest) | 100 (highest) | 100 (highest) |
| Capital allocation | 100 (highest) | 81 | 86 | 80 |
| 41% above value if growth stopped today (largest discount to value if growth stopped today) | 160% above value if growth stopped today | 349% above value if growth stopped today | 360% above value if growth stopped today | |
| Market cap | $93.0B | $4.9B | $22.6B | $9.1B |
| Moat tier | Wide moat | Wide moat | Wide moat | Wide moat |
| Filing date | FY2025 | FY2025 | FY2025 | FY2025 |