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.
IONQ · Technology · No 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%.
IBEX · Technology · Wide 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%.
| Measure | IONQ | FTNT | META | IBEX |
|---|---|---|---|---|
| Moat Score (0–100) | 34 | 100 (highest) | 98 | 98 |
| Methodology version | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 |
| Business trend | 55 | 100 (highest) | 95 | 92 |
| Pricing power | — | 100 (highest) | 100 (highest) | — |
| Returns on capital | 0 | 100 (highest) | 100 (highest) | 100 (highest) |
| Balance-sheet safety | 55 | 100 (highest) | 97 | 100 (highest) |
| Capital discipline | 24 | 100 (highest) | 100 (highest) | 100 (highest) |
| Price vs. high estimate | No price data | 448% above high estimate | 116% above high estimate | 27% above high estimate (largest discount to high estimate) |
| Market cap | $11.9B | $113.2B | $1.53T | $447M |
| Moat tier | No moat | Wide moat | Wide moat | Wide moat |
| Filings as of | FY2025 | FY2025 | FY2025 | FY2025 |