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.
BLLN · Healthcare · Narrow moat
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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 | ENSG | NBIX | TCMD | BLLN |
|---|---|---|---|---|
| Moat Score (0–100) | 72 | 73 (highest) | 73 (highest) | 72 |
| Methodology version | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 |
| Business trend | 95 | 100 (highest) | 75 | 85 |
| Pricing power | 33 | 100 (highest) | 100 (highest) | 59 |
| Returns on capital | 74 (highest) | 39 | 27 | — |
| Balance-sheet safety | 100 (highest) | 100 (highest) | 100 (highest) | 100 (highest) |
| Capital allocation | 60 (highest) | 24 | 60 (highest) | 44 |
| 309% above value if growth stopped today | 390% above value if growth stopped today | 112% above value if growth stopped today (largest discount to value if growth stopped today) | No price data | |
| Market cap | $10.2B | $13.6B | $503M | $2.1B |
| Moat tier | Narrow moat | Narrow moat | Narrow moat | Narrow moat |
| Filing date | FY2025 | FY2025 | FY2025 | FY2025 |