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.
CME · Other · Narrow moat
On the watchlist
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 | CME | WT | SEIC | CBOE |
|---|---|---|---|---|
| Moat Score (0–100) | 72 | 78 (highest) | 78 (highest) | 71 |
| Methodology version | moat-index@2.0.0 | moat-index@2.0.0 | moat-index@2.0.0 | moat-index@2.0.0 |
| Business trend | 86 | 81 | 81 | 94 (highest) |
| Pricing power | — | 100 (highest) | 53 | 53 |
| Returns on capital | 24 | 93 | 100 (highest) | 46 |
| Balance-sheet safety | 100 (highest) | 37 | 73 | 100 (highest) |
| Capital discipline | 77 | 81 | 84 (highest) | 60 |
| Price vs. high estimate | No price data | 275% above high estimate | 23% above high estimate (largest discount to high estimate) | 93% above high estimate |
| Market cap | — | $2.8B | $12.1B | $29.1B |
| Moat tier | Narrow moat | Narrow moat | Narrow moat | Narrow moat |
| Filings as of | FY2025 | FY2025 | FY2025 | FY2025 |