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.
ICE · Other · 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%.
BEN · Other · 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%.
COIN · Other · 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%.
ASST · Other · 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%.
| Measure | ICE | BEN | COIN | ASST |
|---|---|---|---|---|
| Moat Score (0–100) | 48 | 50 (highest) | 49 | 46 |
| Methodology version | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 |
| Business trend | 62 (highest) | 32 | 31 | 37 |
| Pricing power | — | — | — | — |
| Returns on capital | 18 | 64 (highest) | 38 | 9 |
| Balance-sheet safety | 25 | 66 | 92 (highest) | 78 |
| Capital allocation | 85 (highest) | 37 | 33 | 63 |
| 112% above value if growth stopped today | 65% above value if growth stopped today (largest discount to value if growth stopped today) | 231% above value if growth stopped today | No price data | |
| Market cap | $91.6B | $16.1B | $46.4B | Not reported |
| Moat tier | Shallow moat | Shallow moat | Shallow moat | Shallow moat |
| Filing date | FY2025 | FY2025 | FY2025 | FY2025 |