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 | CEVA | QBTS | MAN | TBCH |
|---|---|---|---|---|
| Moat Score (0–100) | 42 | 43 (highest) | 42 | 42 |
| Methodology version | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 |
| Business trend | 33 | 50 (highest) | 28 | 28 |
| Pricing power | 100 (highest) | 83 | 31 | 43 |
| Returns on capital | 0 | 0 | 60 | 74 (highest) |
| Balance-sheet safety | 55 (highest) | 55 (highest) | 53 | 42 |
| Capital allocation | 24 | 24 | 40 (highest) | 24 |
| No price data | No price data | Around the value if growth stopped today (largest discount to value if growth stopped today) | 73% above value if growth stopped today | |
| Market cap | $805M | $4.6B | $2.0B | $310M |
| Moat tier | Shallow moat | Shallow moat | Shallow moat | Shallow moat |
| Filing date | FY2025 | FY2025 | FY2025 | FY2025 |