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.
BEN · Other · Shallow moat
Doesn't clear the bar
The pricingPower component abstained: Not enough years of gross-margin data to score pricing power. The other four 20% weights were renormalized over the scored 80%.
HNNA · Other · Shallow moat
Doesn't clear the bar
The pricingPower component abstained: Not enough years of gross-margin data to score pricing power. The other four 20% weights were renormalized over the scored 80%.
COIN · Other · Shallow moat
Doesn't clear the bar
The pricingPower component abstained: Not enough years of gross-margin data to score pricing power. The other four 20% weights were renormalized over the scored 80%.
| Measure | BEN | HNNA | ABX | COIN |
|---|---|---|---|---|
| Moat Score (0–100) | 50 (highest) | 50 (highest) | 50 (highest) | 49 |
| Methodology version | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 |
| Business trend | 32 | 53 | 57 (highest) | 31 |
| Pricing power | — | — | 100 | — |
| Returns on capital | 64 | 93 (highest) | 24 | 38 |
| Balance-sheet safety | 66 | 37 | 9 | 92 (highest) |
| Capital allocation | 37 | 17 | 60 (highest) | 33 |
| 63% above value if growth stopped today | 3% above value if growth stopped today (largest discount to value if growth stopped today) | 210% above value if growth stopped today | 222% above value if growth stopped today | |
| Market cap | $16.0B | $81M | $765M | $45.1B |
| Moat tier | Shallow moat | Shallow moat | Shallow moat | Shallow moat |
| Filing date | FY2025 | FY2025 | FY2025 | FY2025 |