The Moat Index
Compare moats, side by side.
Two to four companies, scored on the same four filters from their SEC filings — so the comparison is apples to apples. The method is fully public.
| Measure | MRNA | CFOR | IRTC | AXGN |
|---|---|---|---|---|
| Moat Score (0–100) | 40 (highest) | 40 (highest) | 40 (highest) | 40 (highest) |
| Pricing power | 70 | 49 | 98 (highest) | 98 (highest) |
| Returns on capital | 10 (highest) | 6 | 0 | 0 |
| Balance-sheet safety | 55 | 73 (highest) | 28 | 28 |
| Capital discipline | 24 | 44 (highest) | 24 | 24 |
| Margin of safety | No price data | No price data | No price data | No price data |
| Market cap | $24.4B | $203.0M | $3.6B | $1.9B |
| Moat tier | No moat | No moat | No moat | No moat |
| Filings as of | FY2025 | FY2025 | FY2025 | FY2025 |