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 | COUR | EQPT | UPBD | FSLR |
|---|---|---|---|---|
| Moat Score (0–100) | 51 (highest) | 51 (highest) | 51 (highest) | 51 (highest) |
| Methodology version | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 |
| Business trend | 70 | 75 | 26 | 90 (highest) |
| Pricing power | 84 (highest) | 84 (highest) | 81 | 13 |
| Returns on capital | 0 | 17 | 93 (highest) | 12 |
| Balance-sheet safety | 55 | 0 | 28 | 100 (highest) |
| Capital allocation | 44 | 77 (highest) | 25 | 38 |
| No price data | 711% above value if growth stopped today | 46% above value if growth stopped today (largest discount to value if growth stopped today) | 136% above value if growth stopped today | |
| Market cap | $902M | $1.5B | $1.2B | $21.8B |
| Moat tier | Shallow moat | Shallow moat | Shallow moat | Shallow moat |
| Filing date | FY2025 | FY2025 | FY2025 | FY2025 |