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.
KOAN · Technology · Shallow moat
Doesn't clear the bar
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 | DOCN | NCMI | KOAN | SES |
|---|---|---|---|---|
| Moat Score (0–100) | 50 (highest) | 50 (highest) | 50 (highest) | 50 (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 | 80 (highest) | 60 | 50 | 70 |
| Pricing power | 96 | 100 (highest) | 70 | 88 |
| Returns on capital | 6 | 14 (highest) | — | 0 |
| Balance-sheet safety | 23 | 55 (highest) | 55 (highest) | 55 (highest) |
| Capital discipline | 44 (highest) | 20 | 24 | 35 |
| Price vs. high estimate | 5167% above high estimate | 227% above high estimate (largest discount to high estimate) | No price data | No price data |
| Market cap | $11.4B | $352M | $55201 | $184M |
| Moat tier | Shallow moat | Shallow moat | Shallow moat | Shallow moat |
| Filings as of | FY2025 | FY2025 | FY2024 | FY2025 |