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.
CHRS · Healthcare · Shallow moat
Doesn't clear the bar
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%.
MRVI · Healthcare · Shallow moat
Doesn't clear the bar
ANAB · Healthcare · Shallow moat
Doesn't clear the bar
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%.
AWHL · Healthcare · Shallow moat
Doesn't clear the bar
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 | CHRS | MRVI | ANAB | AWHL |
|---|---|---|---|---|
| Moat Score (0–100) | 43 (highest) | 43 (highest) | 43 (highest) | 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 | 45 | 15 | 63 | 66 (highest) |
| Pricing power | 74 (highest) | 60 | — | 32 |
| Returns on capital | — | 67 (highest) | 5 | — |
| Balance-sheet safety | 28 | 28 | 78 (highest) | 28 |
| Capital allocation | 24 | 44 (highest) | 24 | 44 (highest) |
| No price data | No price data | No price data | No price data | |
| Market cap | $120M | $980M | $1.4B | Not reported |
| Moat tier | Shallow moat | Shallow moat | Shallow moat | Shallow moat |
| Filing date | FY2025 | FY2025 | FY2026 | FY2025 |