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.
MNKD · Healthcare · No 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 | MNKD | INNV | NAII | NVCR |
|---|---|---|---|---|
| Moat Score (0–100) | 37 (highest) | 37 (highest) | 37 (highest) | 37 (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 | 75 (highest) | 55 | 15 | 45 |
| Pricing power | 70 | 25 | 3 | 87 (highest) |
| Returns on capital | — | 6 | 47 (highest) | 0 |
| Balance-sheet safety | 2 | 55 (highest) | 55 (highest) | 28 |
| Capital discipline | 0 | 44 | 64 (highest) | 24 |
| Price vs. high estimate | No price data | No price data | 48% below high estimate | No price data |
| Market cap | $1.2B | $1.5B | $14.5M | $2.2B |
| Moat tier | No moat | No moat | No moat | No moat |
| Filings as of | FY2025 | FY2025 | FY2025 | FY2025 |