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.
SCLX · Healthcare · 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%.
MRVI · Healthcare · Shallow moat
Doesn't clear the bar
| Measure | ARDX | SCLX | CDNA | MRVI |
|---|---|---|---|---|
| Moat Score (0–100) | 43 (highest) | 43 (highest) | 43 (highest) | 43 (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 | 65 (highest) | 28 | 43 | 15 |
| Pricing power | 96 (highest) | 70 | 88 | 60 |
| Returns on capital | 0 | — | 4 | 67 (highest) |
| Balance-sheet safety | 28 | 28 | 55 (highest) | 28 |
| Capital allocation | 24 | 45 (highest) | 24 | 44 |
| No price data | No price data | No price data | No price data | |
| Market cap | $1.2B | $48.1M | $1.9B | $976M |
| Moat tier | Shallow moat | Shallow moat | Shallow moat | Shallow moat |
| Filing date | FY2025 | FY2025 | FY2025 | FY2025 |