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.
FRHC · Other · No 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%.
| Measure | AGPU | FRHC | NCPL | DXR |
|---|---|---|---|---|
| Moat Score (0–100) | 39 (highest) | 39 (highest) | 39 (highest) | 38 |
| Methodology version | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 |
| Business trend | 25 | 27 (highest) | 20 | 0 |
| Pricing power | 70 | 28 | 94 (highest) | 91 |
| Returns on capital | 0 | — | 9 (highest) | 0 |
| Balance-sheet safety | 55 | 78 (highest) | 28 | 55 |
| Capital allocation | 44 | 25 | 44 | 45 (highest) |
| No price data | 306% above value if growth stopped today | No price data | No price data | |
| Market cap | $43.4M | $9.3B | $1.3M | $44M |
| Moat tier | No moat | No moat | No moat | No moat |
| Filing date | FY2025 | FY2026 | FY2025 | FY2011 |