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 | CSBR | SIGA | LNTH | NBIX |
|---|---|---|---|---|
| Moat Score (0–100) | 73 (highest) | 73 (highest) | 73 (highest) | 73 (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 | 82 | 15 | 75 | 100 (highest) |
| Pricing power | 75 | 91 | 72 | 100 (highest) |
| Returns on capital | 83 | 96 (highest) | 90 | 39 |
| Balance-sheet safety | 100 (highest) | 100 (highest) | 82 | 100 (highest) |
| Capital allocation | 24 | 63 (highest) | 46 | 24 |
| 2000% above value if growth stopped today | 66% below value if growth stopped today (largest discount to value if growth stopped today) | 161% above value if growth stopped today | 534% above value if growth stopped today | |
| Market cap | $84.5M | $223M | $6.8B | $17.6B |
| Moat tier | Narrow moat | Narrow moat | Narrow moat | Narrow moat |
| Filing date | FY2025 | FY2025 | FY2025 | FY2025 |