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%.
SAMG · Other · Shallow moat
On the watchlist
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%.
COHN · 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 | SAMG | HKHC | COHN |
|---|---|---|---|---|
| Moat Score (0–100) | 56 | 58 (highest) | 57 | 55 |
| Methodology version | moat-index@2.0.0 | moat-index@2.0.0 | moat-index@2.0.0 | moat-index@2.0.0 |
| Business trend | 94 (highest) | 53 | 70 | 65 |
| Pricing power | — | — | 43 | — |
| Returns on capital | 18 | 100 (highest) | 11 | 38 |
| Balance-sheet safety | 25 | 73 | 100 (highest) | 55 |
| Capital discipline | 85 (highest) | 5 | 60 | 60 |
| Price vs. high estimate | 86% above high estimate | 36% below high estimate (largest discount to high estimate) | No price data | No price data |
| Market cap | $80.3B | $85.8M | $482.5M | $27.0M |
| Moat tier | Shallow moat | Shallow moat | Shallow moat | Shallow moat |
| Filings as of | FY2025 | FY2025 | FY2025 | FY2025 |