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.
NVAX · Healthcare · Narrow moat
On the watchlist
The returnsOnCapital component abstained: Not enough years of ROIC data to score returns on capital. The other four 20% weights were renormalized over the scored 80%.
BIOE · Healthcare · Narrow moat
On the watchlist
The returnsOnCapital component abstained: Not enough years of ROIC data to score returns on capital. The other four 20% weights were renormalized over the scored 80%.
| Measure | CDRE | NVAX | NAGE | BIOE |
|---|---|---|---|---|
| Moat Score (0–100) | 61 | 62 (highest) | 62 (highest) | 61 |
| Methodology version | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 |
| Business trend | 89 (highest) | 54 | 85 | 65 |
| Pricing power | 68 | 76 | 91 (highest) | 57 |
| Returns on capital | 52 (highest) | — | 8 | — |
| Balance-sheet safety | 71 | 73 | 100 (highest) | 99 |
| Capital allocation | 28 | 44 (highest) | 24 | 24 |
| 150% above value if growth stopped today | No price data | No price data | No price data | |
| Market cap | $1.3B | $1.2B | $256M | $10.3M |
| Moat tier | Narrow moat | Narrow moat | Narrow moat | Narrow moat |
| Filing date | FY2025 | FY2025 | FY2025 | FY2025 |