The Moat Index
Compare moats, side by side.
Two to four companies, scored on the same four filters from their SEC filings — so the comparison is apples to apples. The method is fully public.
| Measure | IBTA | ETSY | APH | WFCF |
|---|---|---|---|---|
| Moat Score (0–100) | 76 (highest) | 76 (highest) | 76 (highest) | 75 |
| Pricing power | 97 | 99 (highest) | 55 | 72 |
| Returns on capital | 88 | 91 (highest) | 90 | 62 |
| Balance-sheet safety | 55 | 31 | 81 (highest) | 73 |
| Capital discipline | 44 | 64 | 80 | 100 (highest) |
| Margin of safety | No price data | 90% above value (highest margin of safety) | 425% above value | 113% above value |
| Market cap | — | $8.2B | $185.5B | $62.5M |
| Moat tier | Narrow moat | Narrow moat | Narrow moat | Narrow moat |
| Filings as of | FY2025 | FY2025 | FY2025 | FY2025 |