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 | BNED | HOG | AIN | PLCE |
|---|---|---|---|---|
| Moat Score (0–100) | 38 (highest) | 38 (highest) | 38 (highest) | 37 |
| Pricing power | 34 | 35 | 50 (highest) | 44 |
| Returns on capital | 4 | 12 | 43 | 47 (highest) |
| Balance-sheet safety | 100 (highest) | 79 | 0 | 28 |
| Capital discipline | 31 | 40 | 50 (highest) | 24 |
| Margin of safety | No price data | 62% below value | No price data | No price data |
| Market cap | $433.8M | $3.0B | — | $65.6M |
| Moat tier | No moat | No moat | No moat | No moat |
| Filings as of | FY2026 | FY2025 | FY2025 | FY2026 |