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 | INNV |
|---|---|---|---|---|
| Moat Score (0–100) | 41 (highest) | 41 (highest) | 41 (highest) | 41 (highest) |
| 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 | 58 |
| Pricing power | 54 | — | 91 (highest) | 20 |
| Returns on capital | — | 0 | 0 | 5 (highest) |
| Balance-sheet safety | 55 | 55 | 28 | 100 (highest) |
| Capital allocation | 33 | 44 (highest) | 24 | 19 |
| No price data | No price data | No price data | No price data | |
| Market cap | $212M | $9.4M | $3.7B | $1.2B |
| Moat tier | Shallow moat | Shallow moat | Shallow moat | Shallow moat |
| Filing date | FY2025 | FY2025 | FY2025 | FY2026 |