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.
| Measure | IRWD | APT | JRSS | ONC |
|---|---|---|---|---|
| Moat Score (0–100) | 55 (highest) | 55 (highest) | 55 (highest) | 54 |
| Methodology version | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 |
| Business trend | 20 | 23 | 30 | 80 (highest) |
| Pricing power | 99 (highest) | 57 | 70 | 94 |
| Returns on capital | 91 | 33 | 96 (highest) | 4 |
| Balance-sheet safety | 30 | 100 (highest) | 55 | 69 |
| Capital allocation | 33 | 62 (highest) | 24 | 24 |
| 117% above value if growth stopped today | 14% above value if growth stopped today | 85% below value if growth stopped today (largest discount to value if growth stopped today) | No price data | |
| Market cap | $605M | $49.9M | $1.5M | $469.6B |
| Moat tier | Shallow moat | Shallow moat | Shallow moat | Shallow moat |
| Filing date | FY2025 | FY2025 | FY2023 | FY2025 |