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.
ATHR · Technology · 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 | APG | OKTA | ATHR | SUNB |
|---|---|---|---|---|
| Moat Score (0–100) | 56 (highest) | 56 (highest) | 56 (highest) | 56 (highest) |
| 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 | 85 (highest) | 22 | 20 |
| Pricing power | 29 | 98 | 100 (highest) | 97 |
| Returns on capital | 35 | 0 | — | 55 (highest) |
| Balance-sheet safety | 100 (highest) | 73 | 78 | 77 |
| Capital allocation | 60 (highest) | 24 | 24 | 29 |
| 315% above value if growth stopped today | No price data | No price data | 80% above value if growth stopped today (largest discount to value if growth stopped today) | |
| Market cap | $17.1B | $24.8B | $50.3M | $31.0B |
| Moat tier | Shallow moat | Shallow moat | Shallow moat | Shallow moat |
| Filing date | FY2025 | FY2026 | FY2025 | FY2026 |