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.
BTMD · Healthcare · Wide moat
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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 | BTMD | ELMD | UTHR | NATR |
|---|---|---|---|---|
| Moat Score (0–100) | 80 | 82 (highest) | 81 | 80 |
| Methodology version | moat-index@2.0.0 | moat-index@2.0.0 | moat-index@2.0.0 | moat-index@2.0.0 |
| Business trend | 69 | 91 (highest) | 78 | 67 |
| Pricing power | — | 100 (highest) | 100 (highest) | 100 (highest) |
| Returns on capital | 100 (highest) | 41 | 97 | 66 |
| Balance-sheet safety | 73 | 100 (highest) | 73 | 73 |
| Capital discipline | 80 | 76 | 60 | 93 (highest) |
| Price vs. high estimate | No price data | 499% above high estimate | 30% above high estimate (largest discount to high estimate) | 101% above high estimate |
| Market cap | — | $341.3M | $23.1B | $367.0M |
| Moat tier | Wide moat | Wide moat | Wide moat | Narrow moat |
| Filings as of | FY2025 | FY2025 | FY2025 | FY2025 |