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.
| Measure | MCO | VEEV | DOCS | NTAP |
|---|---|---|---|---|
| Moat Score (0–100) | 93 | 94 (highest) | 93 | 92 |
| Methodology version | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 |
| Business trend | 69 | 100 (highest) | 88 | 80 |
| Pricing power | 100 (highest) | 100 (highest) | 100 (highest) | 98 |
| Returns on capital | 100 (highest) | 93 | 96 | 100 (highest) |
| Balance-sheet safety | 100 (highest) | 100 (highest) | 100 (highest) | 85 |
| Capital allocation | 94 | 77 | 80 | 98 (highest) |
| 247% above value if growth stopped today | 422% above value if growth stopped today | 113% above value if growth stopped today (largest discount to value if growth stopped today) | 144% above value if growth stopped today | |
| Market cap | $83.6B | $30.5B | $3.7B | $32.9B |
| Moat tier | Wide moat | Wide moat | Wide moat | Wide moat |
| Filing date | FY2025 | FY2026 | FY2026 | FY2026 |