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%.
SMMT · Healthcare · No 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 | MNKD | SMMT | VERU | 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) | 20 | 10 | 45 |
| Pricing power | 70 | — | 76 | 87 (highest) |
| Returns on capital | — | 7 (highest) | 0 | 0 |
| Balance-sheet safety | 2 | 78 (highest) | 55 | 28 |
| Capital allocation | 0 | 44 (highest) | 44 (highest) | 24 |
| No price data | No price data | No price data | No price data | |
| Market cap | $954M | $12.5B | $34.9M | $1.8B |
| Moat tier | No moat | No moat | No moat | No moat |
| Filing date | FY2025 | FY2025 | FY2025 | FY2025 |