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.
MKTX · Other · Wide moat
On the watchlist
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%.
FHI · Other · Wide moat
Wonderful & reasonably priced
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%.
ENDI · Other · Wide moat
On the watchlist
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 | MKTX | FHI | MORN | ENDI |
|---|---|---|---|---|
| Moat Score (0–100) | 86 | 96 (highest) | 90 | 83 |
| Methodology version | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 |
| Business trend | 64 | 97 (highest) | 94 | 50 |
| Pricing power | — | — | 98 | 100 (highest) |
| Returns on capital | 100 (highest) | 100 (highest) | 80 | — |
| Balance-sheet safety | 100 (highest) | 100 (highest) | 89 | 100 (highest) |
| Capital allocation | 81 | 86 | 90 (highest) | 80 |
| 19% above value if growth stopped today (largest discount to value if growth stopped today) | 35% above value if growth stopped today | 155% above value if growth stopped today | No price data | |
| Market cap | $4.2B | $4.3B | $6.9B | Not reported |
| Moat tier | Wide moat | Wide moat | Wide moat | Wide moat |
| Filing date | FY2025 | FY2025 | FY2025 | FY2023 |