The Moat Index
Compare moats, side by side.
Two to four companies, scored on the same four filters from their SEC filings — so the comparison is apples to apples. The method is fully public.
| Measure | CSTL | BCRX | ATRC | QURE |
|---|---|---|---|---|
| Moat Score (0–100) | 47 (highest) | 47 (highest) | 47 (highest) | 47 (highest) |
| Pricing power | 99 | 100 (highest) | 100 (highest) | 96 |
| Returns on capital | 5 | 0 | 4 | 7 (highest) |
| Balance-sheet safety | 55 | 61 (highest) | 55 | 55 |
| Capital discipline | 24 (highest) | 24 (highest) | 24 (highest) | 24 (highest) |
| Margin of safety | No price data | No price data | No price data | No price data |
| Market cap | $717.2M | $2.0B | $1.7B | $2.5B |
| Moat tier | Shallow moat | Shallow moat | Shallow moat | Shallow moat |
| Filings as of | FY2025 | FY2025 | FY2025 | FY2025 |