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.
PAYO · Technology · Wide moat
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The pricingPower component abstained: Not enough years of gross-margin data to score pricing power. The other four 20% weights were renormalized over the scored 80%.
| Measure | DUOL | CART | WEX | PAYO |
|---|---|---|---|---|
| Moat Score (0–100) | 86 (highest) | 86 (highest) | 86 (highest) | 85 |
| Methodology version | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 |
| Business trend | 85 (highest) | 80 | 81 | 80 |
| Pricing power | 100 (highest) | 98 | 67 | — |
| Returns on capital | 100 (highest) | 88 | 82 | 86 |
| Balance-sheet safety | 100 (highest) | 100 (highest) | 100 (highest) | 100 (highest) |
| Capital allocation | 44 | 64 | 100 (highest) | 75 |
| No price data | 111% above value if growth stopped today | 36% above value if growth stopped today (largest discount to value if growth stopped today) | 100% above value if growth stopped today | |
| Market cap | Not reported | $10.3B | $6.0B | $2.5B |
| Moat tier | Wide moat | Wide moat | Wide moat | Wide moat |
| Filing date | FY2025 | FY2025 | FY2025 | FY2025 |