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.
COIN · Other · 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%.
BEN · Other · 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%.
ICE · Other · 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%.
| Measure | COIN | ABX | BEN | ICE |
|---|---|---|---|---|
| Moat Score (0–100) | 49 | 50 (highest) | 50 (highest) | 48 |
| Methodology version | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 |
| Business trend | 31 | 57 | 32 | 62 (highest) |
| Pricing power | — | 100 | — | — |
| Returns on capital | 38 | 24 | 64 (highest) | 18 |
| Balance-sheet safety | 92 (highest) | 9 | 66 | 25 |
| Capital allocation | 33 | 60 | 37 | 85 (highest) |
| 253% above value if growth stopped today | 277% above value if growth stopped today | 85% above value if growth stopped today (largest discount to value if growth stopped today) | 112% above value if growth stopped today | |
| Market cap | $49.4B | $931M | $18.1B | $91.6B |
| Moat tier | Shallow moat | Shallow moat | Shallow moat | Shallow moat |
| Filing date | FY2025 | FY2025 | FY2025 | FY2025 |