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 | BHIC | ABNB | ADSK | PCTY |
|---|---|---|---|---|
| Moat Score (0–100) | 83 (highest) | 83 (highest) | 83 (highest) | 82 |
| Methodology version | moat-index@2.0.0 | moat-index@2.0.0 | moat-index@2.0.0 | moat-index@2.0.0 |
| Business trend | 85 | 75 | 77 | 95 (highest) |
| Pricing power | 84 | 98 | 100 (highest) | 93 |
| Returns on capital | 100 (highest) | 100 (highest) | 90 | 97 |
| Balance-sheet safety | 100 (highest) | 100 (highest) | 97 | 100 (highest) |
| Capital discipline | 44 | 44 | 52 (highest) | 27 |
| Price vs. high estimate | No price data | 224% above high estimate | 310% above high estimate | 118% above high estimate (largest discount to high estimate) |
| Market cap | — | $90.3B | $46.2B | $7.0B |
| Moat tier | Wide moat | Wide moat | Wide moat | Wide moat |
| Filings as of | FY2025 | FY2025 | FY2026 | FY2025 |