The Moat Index
Compare moats, side by side.
Two to four companies, scored on the same four filters from their SEC filings — so the comparison is apples to apples. The method is fully public.
| Measure | LH | ARQT | ARDX | CTSO |
|---|---|---|---|---|
| Moat Score (0–100) | 39 (highest) | 39 (highest) | 39 (highest) | 39 (highest) |
| Pricing power | 43 | 97 (highest) | 96 | 96 |
| Returns on capital | 23 (highest) | 0 | 0 | 0 |
| Balance-sheet safety | 32 (highest) | 28 | 28 | 28 |
| Capital discipline | 65 (highest) | 24 | 24 | 24 |
| Margin of safety | 87% above value | No price data | No price data | No price data |
| Market cap | $23.3B | $3.5B | $1.3B | $22.6M |
| Moat tier | No moat | No moat | No moat | No moat |
| Filings as of | FY2025 | FY2025 | FY2025 | FY2025 |