The Moat Index
Compare moats, side by side.
Two to four companies, scored on the same four filters from their SEC filings — so the comparison is apples to apples. The method is fully public.
| Measure | BDX | TELA | STEX | CERS |
|---|---|---|---|---|
| Moat Score (0–100) | 36 (highest) | 36 (highest) | 36 (highest) | 36 (highest) |
| Pricing power | 76 | 85 (highest) | 71 | 84 |
| Returns on capital | 0 (highest) | 0 (highest) | 0 (highest) | 0 (highest) |
| Balance-sheet safety | 10 | 28 (highest) | 28 (highest) | 28 (highest) |
| Capital discipline | 54 (highest) | 24 | 44 | 24 |
| Margin of safety | Around fair value | No price data | No price data | No price data |
| Market cap | $45.1B | $32.6M | $39.0M | $601.4M |
| Moat tier | No moat | No moat | No moat | No moat |
| Filings as of | FY2025 | FY2025 | FY2025 | FY2025 |