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.
VERX · Technology · Shallow moat
Doesn't clear the bar
The businessTrend component abstained: Fewer than two aligned fiscal years of revenue and diluted EPS are available; the filing history does not contain a measurable trend. The other four 20% weights were renormalized over the scored 80%.
| Measure | HQY | WU | VERX | LQDT |
|---|---|---|---|---|
| Moat Score (0–100) | 59 | 60 (highest) | 60 (highest) | 59 |
| Methodology version | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 |
| Business trend | 85 (highest) | 25 | — | 60 |
| Pricing power | 96 | 64 | 98 (highest) | 80 |
| Returns on capital | 11 | 100 (highest) | 0 | 57 |
| Balance-sheet safety | 46 | 39 | 97 | 100 (highest) |
| Capital allocation | 60 | 71 (highest) | 44 | 0 |
| 242% above value if growth stopped today | 82% below value if growth stopped today (largest discount to value if growth stopped today) | No price data | 382% above value if growth stopped today | |
| Market cap | $7.9B | $2.0B | Not reported | $1.6B |
| Moat tier | Shallow moat | Shallow moat | Shallow moat | Shallow moat |
| Filing date | FY2026 | FY2025 | FY2025 | FY2025 |