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.
IBEX · Technology · Wide moat
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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 | ADTN | FTNT | IBEX | META |
|---|---|---|---|---|
| Moat Score (0–100) | 27 | 100 (highest) | 99 | 98 |
| Methodology version | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 |
| Business trend | 55 | 100 (highest) | 94 | 95 |
| Pricing power | 54 | 100 (highest) | — | 100 (highest) |
| Returns on capital | 0 | 100 (highest) | 100 (highest) | 100 (highest) |
| Balance-sheet safety | 28 | 100 (highest) | 100 (highest) | 97 |
| Capital allocation | 0 | 100 (highest) | 100 (highest) | 100 (highest) |
| 2450% above value if growth stopped today | 885% above value if growth stopped today | 48% above value if growth stopped today (largest discount to value if growth stopped today) | 317% above value if growth stopped today | |
| Market cap | $504M | $125.7B | $608M | $1.83T |
| Moat tier | No moat | Wide moat | Wide moat | Wide moat |
| Filing date | FY2025 | FY2025 | FY2026 | FY2025 |