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.
MEHA · Healthcare · Narrow moat
Wonderful & reasonably priced
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 | LGND | GYRE | DRS | MEHA |
|---|---|---|---|---|
| Moat Score (0–100) | 64 | 65 (highest) | 64 | 64 |
| Methodology version | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 |
| Business trend | 65 | 70 | 80 (highest) | 66 |
| Pricing power | 100 (highest) | 100 (highest) | 28 | 90 |
| Returns on capital | 20 | 9 | 33 (highest) | — |
| Balance-sheet safety | 44 | 100 (highest) | 100 (highest) | 55 |
| Capital discipline | 91 (highest) | 44 | 80 | 44 |
| Price vs. high estimate | 528% above high estimate | 1032% above high estimate | 224% above high estimate | 94% below high estimate (largest discount to high estimate) |
| Market cap | $5.9B | $542M | $12.8B | $86041 |
| Moat tier | Narrow moat | Narrow moat | Narrow moat | Narrow moat |
| Filings as of | FY2025 | FY2025 | FY2025 | FY2025 |