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.
ADEA · Communications · Shallow moat
Doesn't clear the bar
The pricingPower component abstained: Not enough years of gross-margin data to score pricing power. The other four 20% weights were renormalized over the scored 80%.
DIS · Communications · Shallow moat
Doesn't clear the bar
The pricingPower component abstained: Not enough years of gross-margin data to score pricing power. The other four 20% weights were renormalized over the scored 80%.
NMAX · Communications · Shallow 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%.
MTN · Communications · Shallow moat
Doesn't clear the bar
The pricingPower component abstained: Not enough years of gross-margin data to score pricing power. The other four 20% weights were renormalized over the scored 80%.
| Measure | ADEA | DIS | NMAX | MTN |
|---|---|---|---|---|
| Moat Score (0–100) | 51 | 52 (highest) | 52 (highest) | 51 |
| Methodology version | moat-index@2.0.0 | moat-index@2.0.0 | moat-index@2.0.0 | moat-index@2.0.0 |
| Business trend | 50 | 69 | 70 | 81 (highest) |
| Pricing power | — | — | 64 | — |
| Returns on capital | 55 (highest) | 20 | — | 48 |
| Balance-sheet safety | 41 | 78 (highest) | 28 | 15 |
| Capital discipline | 59 | 41 | 44 | 60 (highest) |
| Price vs. high estimate | 63% above high estimate | 367% above high estimate | No price data | 3% below high estimate (largest discount to high estimate) |
| Market cap | $2.9B | $183.2B | $886.2M | $5.2B |
| Moat tier | Shallow moat | Shallow moat | Shallow moat | Shallow moat |
| Filings as of | FY2025 | FY2025 | FY2025 | FY2025 |