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.
MDAI · Healthcare · 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%.
| Measure | MDAI | ARQT | PCYN | RAL |
|---|---|---|---|---|
| Moat Score (0–100) | 44 (highest) | 44 (highest) | 44 (highest) | 44 (highest) |
| Methodology version | moat-index@2.0.0 | moat-index@2.0.0 | moat-index@2.0.0 | moat-index@2.0.0 |
| Business trend | 20 | 70 (highest) | 49 | 26 |
| Pricing power | 76 | 97 | 99 (highest) | 87 |
| Returns on capital | — | 0 | 0 | 33 (highest) |
| Balance-sheet safety | 55 (highest) | 28 | 28 | 28 |
| Capital discipline | 24 | 24 | 43 | 44 (highest) |
| Price vs. high estimate | No price data | No price data | No price data | 69% above high estimate |
| Market cap | $50.6M | $3.4B | $2.0M | $7.9B |
| Moat tier | Shallow moat | Shallow moat | Shallow moat | Shallow moat |
| Filings as of | FY2025 | FY2025 | FY2024 | FY2025 |