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.
GUTS · Healthcare · 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%.
BFRI · Healthcare · Shallow moat
Doesn't clear the bar
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%.
ADPT · Healthcare · Shallow moat
Doesn't clear the bar
| Measure | GUTS | BFRI | ADPT | IART |
|---|---|---|---|---|
| Moat Score (0–100) | 41 (highest) | 41 (highest) | 41 (highest) | 40 |
| Methodology version | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 |
| Business trend | 20 | 63 (highest) | 60 | 38 |
| Pricing power | 54 | — | 91 | 95 (highest) |
| Returns on capital | — | 0 | 0 | 5 (highest) |
| Balance-sheet safety | 55 (highest) | 55 (highest) | 28 | 28 |
| Capital allocation | 33 | 44 (highest) | 24 | 36 |
| No price data | No price data | No price data | 71% above value if growth stopped today | |
| Market cap | $107M | $18.2M | $3.7B | $1.3B |
| Moat tier | Shallow moat | Shallow moat | Shallow moat | Shallow moat |
| Filing date | FY2025 | FY2025 | FY2025 | FY2025 |