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.
ZTS · Healthcare · Wide moat
Wonderful & reasonably priced
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 | EXEL | ZTS | ALGN | UTHR |
|---|---|---|---|---|
| Moat Score (0–100) | 87 | 89 (highest) | 88 | 86 |
| 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 | 88 | 41 | 100 (highest) |
| Pricing power | 100 (highest) | 100 (highest) | 99 | 100 (highest) |
| Returns on capital | 76 | — | 100 (highest) | 97 |
| Balance-sheet safety | 100 (highest) | 68 | 100 (highest) | 73 |
| Capital allocation | 63 | 100 (highest) | 100 (highest) | 60 |
| 524% above value if growth stopped today | 23% above value if growth stopped today (largest discount to value if growth stopped today) | 106% above value if growth stopped today | 115% above value if growth stopped today | |
| Market cap | $16.0B | $32.0B | $10.3B | $23.6B |
| Moat tier | Wide moat | Wide moat | Wide moat | Wide moat |
| Filing date | FY2025 | FY2025 | FY2025 | FY2025 |