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.
CAKE · Consumer Discretionary · Wide moat
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| Measure | FCN | ARHS | PAYX | CAKE |
|---|---|---|---|---|
| Moat Score (0–100) | 82 | 83 (highest) | 83 (highest) | 82 |
| Methodology version | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 |
| Business trend | 87 | 90 (highest) | 89 | 88 |
| Pricing power | 56 | 65 | 100 (highest) | 100 (highest) |
| Returns on capital | 76 | 100 (highest) | 100 (highest) | 78 |
| Balance-sheet safety | 92 | 100 (highest) | 57 | 81 |
| Capital allocation | 100 (highest) | 60 | 68 | 65 |
| 50% above value if growth stopped today (largest discount to value if growth stopped today) | 88% above value if growth stopped today | 112% above value if growth stopped today | 414% above value if growth stopped today | |
| Market cap | $4.5B | $1.4B | $39.4B | $5.8B |
| Moat tier | Wide moat | Wide moat | Wide moat | Wide moat |
| Filing date | FY2025 | FY2025 | FY2026 | FY2025 |