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.
LYV · Communications · 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%.
WMG · Communications · Shallow moat
Doesn't clear the bar
The businessTrend component abstained: Fewer than two aligned fiscal years of revenue and diluted EPS are available; the filing history does not contain a measurable trend. The other four 20% weights were renormalized over the scored 80%.
ADEA · Communications · 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 | LYV | SPOK | WMG | ADEA |
|---|---|---|---|---|
| Moat Score (0–100) | 54 | 56 (highest) | 55 | 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 | 65 (highest) | 49 | — | 61 |
| Pricing power | — | 100 (highest) | 80 | — |
| Returns on capital | 40 | 4 | 57 (highest) | 55 |
| Balance-sheet safety | 52 | 100 (highest) | 14 | 41 |
| Capital allocation | 60 | 27 | 69 (highest) | 59 |
| 657% above value if growth stopped today | 24% above value if growth stopped today (largest discount to value if growth stopped today) | No price data | 61% above value if growth stopped today | |
| Market cap | $41.7B | $218M | Not reported | $2.8B |
| Moat tier | Shallow moat | Shallow moat | Shallow moat | Shallow moat |
| Filing date | FY2025 | FY2025 | FY2025 | FY2025 |