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 | AMGN | NOC | ILMN | HALO |
|---|---|---|---|---|
| Moat Score (0–100) | 68 | 69 (highest) | 69 (highest) | 68 |
| Methodology version | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 |
| Business trend | 90 (highest) | 48 | 57 | 67 |
| Pricing power | 93 | 90 | 99 (highest) | 96 |
| Returns on capital | 80 | 76 | 86 (highest) | 77 |
| Balance-sheet safety | 14 | 41 | 42 (highest) | 40 |
| Capital discipline | 65 | 87 (highest) | 58 | 62 |
| Price vs. high estimate | 36% above high estimate | 16% above high estimate (largest discount to high estimate) | No price data | 67% above high estimate |
| Market cap | $202.6B | $77.0B | $29.7B | $9.6B |
| Moat tier | Narrow moat | Narrow moat | Narrow moat | Narrow moat |
| Filings as of | FY2025 | FY2025 | FY2025 | FY2025 |