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.
PBH · Healthcare · Narrow moat
Wonderful & reasonably priced
NVAX · Healthcare · Narrow moat
On the watchlist
The returnsOnCapital component abstained: Not enough years of ROIC data to score returns on capital. The other four 20% weights were renormalized over the scored 80%.
| Measure | DCTH | PBH | INFU | NVAX |
|---|---|---|---|---|
| Moat Score (0–100) | 62 (highest) | 62 (highest) | 62 (highest) | 62 (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 | 48 | 93 (highest) | 54 |
| Pricing power | 94 (highest) | 94 (highest) | 66 | 76 |
| Returns on capital | 0 | 13 (highest) | 4 | — |
| Balance-sheet safety | 100 (highest) | 62 | 64 | 73 |
| Capital allocation | 44 | 92 (highest) | 83 | 44 |
| No price data | 7% below value if growth stopped today (largest discount to value if growth stopped today) | 21% above value if growth stopped today | No price data | |
| Market cap | $424M | $2.4B | $184M | $1.2B |
| Moat tier | Narrow moat | Narrow moat | Narrow moat | Narrow moat |
| Filing date | FY2025 | FY2026 | FY2025 | FY2025 |