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.
KOAN · Technology · 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%.
DFIN · Technology · 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 | KOAN | DFIN | NCMI | DOCN |
|---|---|---|---|---|
| Moat Score (0–100) | 50 (highest) | 50 (highest) | 50 (highest) | 50 (highest) |
| Methodology version | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 |
| Business trend | 50 | 20 | 60 | 80 (highest) |
| Pricing power | 70 | — | 100 (highest) | 96 |
| Returns on capital | — | 72 (highest) | 14 | 6 |
| Balance-sheet safety | 55 | 67 (highest) | 55 | 23 |
| Capital allocation | 24 | 40 | 20 | 44 (highest) |
| No price data | 20% above value if growth stopped today (largest discount to value if growth stopped today) | 227% above value if growth stopped today | 5167% above value if growth stopped today | |
| Market cap | $55201 | $1.2B | $352M | $11.4B |
| Moat tier | Shallow moat | Shallow moat | Shallow moat | Shallow moat |
| Filing date | FY2024 | FY2025 | FY2025 | FY2025 |