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.
AIRO · Consumer Discretionary · Shallow moat
Doesn't clear the bar
REAL · Consumer Discretionary · 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%.
| Measure | AIRO | REAL | LIVE | PII |
|---|---|---|---|---|
| Moat Score (0–100) | 51 (highest) | 51 (highest) | 51 (highest) | 50 |
| Methodology version | moat-index@2.0.0 | moat-index@2.0.0 | moat-index@2.0.0 | moat-index@2.0.0 |
| Business trend | 59 | 60 | 75 (highest) | 54 |
| Pricing power | 94 (highest) | 93 | 50 | 38 |
| Returns on capital | 0 | — | 39 | 69 (highest) |
| Balance-sheet safety | 55 (highest) | 28 | 28 | 28 |
| Capital discipline | 44 | 24 | 62 | 64 (highest) |
| Price vs. high estimate | No price data | No price data | 87% below high estimate (largest discount to high estimate) | 17% below high estimate |
| Market cap | $212.7M | $1.4B | $35.6M | $4.1B |
| Moat tier | Shallow moat | Shallow moat | Shallow moat | Shallow moat |
| Filings as of | FY2025 | FY2025 | FY2025 | FY2025 |