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.
IVVD · Healthcare · 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%.
PRAX · Healthcare · 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%.
AVR · Healthcare · Shallow moat
Doesn't clear the bar
The returnsOnCapital component abstained: Not enough years of ROIC data to score returns on capital. The other four 20% weights were renormalized over the scored 80%.
| Measure | IVVD | PRAX | INM | AVR |
|---|---|---|---|---|
| Moat Score (0–100) | 42 (highest) | 42 (highest) | 42 (highest) | 42 (highest) |
| Methodology version | moat-index@2.0.0 | moat-index@2.0.0 | moat-index@2.0.0 | moat-index@2.0.0 |
| Business trend | 70 (highest) | 70 (highest) | 55 | 20 |
| Pricing power | — | — | 34 | 70 (highest) |
| Returns on capital | 0 (highest) | 0 (highest) | 0 (highest) | — |
| Balance-sheet safety | 55 | 55 | 78 (highest) | 55 |
| Capital discipline | 44 (highest) | 44 (highest) | 44 (highest) | 24 |
| Price vs. high estimate | No price data | No price data | No price data | No price data |
| Market cap | $193.2M | $7.7B | $3.0M | $341.8M |
| Moat tier | Shallow moat | Shallow moat | Shallow moat | Shallow moat |
| Filings as of | FY2025 | FY2025 | FY2025 | FY2025 |