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.
SPRO · Healthcare · 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%.
PNTG · Healthcare · 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 | MMM | SPRO | PNTG | NEPH |
|---|---|---|---|---|
| Moat Score (0–100) | 56 (highest) | 56 (highest) | 56 (highest) | 56 (highest) |
| Methodology version | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 | moat-index@3.0.0 |
| Business trend | 20 | 65 | 100 (highest) | 85 |
| Pricing power | 72 | — | — | 92 (highest) |
| Returns on capital | 97 (highest) | 14 | 28 | 4 |
| Balance-sheet safety | 45 | 100 (highest) | 35 | 73 |
| Capital discipline | 45 | 44 | 60 (highest) | 24 |
| Price vs. high estimate | 89% above high estimate (largest discount to high estimate) | No price data | 492% above high estimate | No price data |
| Market cap | $91.5B | $67.1M | $1.4B | $38.7M |
| Moat tier | Shallow moat | Shallow moat | Shallow moat | Shallow moat |
| Filings as of | FY2025 | FY2025 | FY2025 | FY2025 |