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 | BMI | EXEL | UTHR | MDXG |
|---|---|---|---|---|
| Moat Score (0–100) | 85 | 87 (highest) | 86 | 84 |
| Methodology version | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 |
| Business trend | 100 (highest) | 95 | 100 (highest) | 75 |
| Pricing power | 67 | 100 (highest) | 100 (highest) | 100 (highest) |
| Returns on capital | 79 | 76 | 97 (highest) | 85 |
| Balance-sheet safety | 100 (highest) | 100 (highest) | 73 | 100 (highest) |
| Capital allocation | 80 (highest) | 63 | 60 | 60 |
| 323% above value if growth stopped today | 466% above value if growth stopped today | 111% above value if growth stopped today | 32% above value if growth stopped today (largest discount to value if growth stopped today) | |
| Market cap | $4.7B | $14.5B | $23.1B | $622M |
| Moat tier | Wide moat | Wide moat | Wide moat | Wide moat |
| Filing date | FY2025 | FY2025 | FY2025 | FY2025 |